All Forum Posts by: Ryan Thomas

@Enyi Ajoku

Hey Enyi,

We can help! Please use an independent brokerage at the least, you simply get more options. Rental dwellings are fairly simple risks and we like to put all future purchases on a master policy given it’s the same owner. We have many carriers that offer this.

@Christopher Mitchell

I just want to add a note about insurance as it’s the only thing I’m knowledgeable about. Try to get the sellers policy, if not make sure to find out if the loan requires earthquake insurance as that can be 4 times the price of a standard package policy. We are seeing moratoriums EVERYWHERE because of the wildfires and that alone can double your rate by not being able to access competitive carriers. They are now doing separate wildfire deductibles in CA due to all the losses so just note that rates are increasing.

@Brittani W.

Hey Brittani,

We can absolutely help. Please make sure to use an independent insurance brokerage as we have access to a multitude of carriers instead of a captive agency that only uses one carrier. We work with many investors all throughout the U.S. that either buy and hold or aggressively flip. There are many options that we can can talk about as it relates to your current and future endeavors.

@Melvin Maxwell

Hey Melvin, I’m happy to have a conversation with you regarding builders risk/ocp insurance. We may even be able to get away with writing a vacant dwelling policy if the repairs are minor and only cosmetic. If not, we can turn around a builders risk quote day of, just need some details. Happy to help!

@Amanda Rome

Hey Amanda! Welcome! I’m an insurance agent and realtor from Arizona. Let me know if you have any questions about the southwest! Best of luck to you!

@Kyle Ross

Hey Kyle I live in Mesa AZ. I’m an insurance agent but use my real estate license for friends, family and personal investments. Happy to link up!

@Victoria Bradley

Hey Victoria, camp grounds are somewhat simple investments but I just wanted to notate one thing with trailer parks; the general liability coverage is already expensive and when you try different or creative ideas, more carriers deny quoting and your prices will skyrocket.

@Luke Weber

Hey Luke, I like this. Some people just operate more analytically and they need one to feel comfortable. I don’t. I think there is a difference from a formula and streamlining your processes. Just like a business, you need to maximize efficiency without sacrificing quality. This is an ever changing industry which is why I too shy away from strict formulas. Good post my friend!

@Jeff Quinlan

Hey Jeff,

Most carriers are rated A- or higher and that only reflects the companies financial strength anyway. Most all loans require this rating so there are few carriers that are in the B range and if anyone offers you a quote from that avoid them. Just look at the premium, coverages and...EXCLUSIONS. Assault and battery is a big one on general liability lately, if that’s not included in your quote avoid it. Conventional loans usually have pretty strict insurance requirements to the point they hire 3rd party compliance companies that go above and beyond to make sure everything is squared away. The most important thing to consider with commercial insurance is to have a solid relationship with your agent who will answer all questions and concerns accurately and in a timely manner. This is what I do and we’re licensed in all 50 states so I’m happy to help out any time.

@Rick Stout

Hey Rick, yes I can provide that for you.