All Forum Posts by: Samuel Eddinger

Join us at Elite Dealmakers – CT for an insightful session on Understanding Asset-based Lending and Underwriting Loans to Close.

🗓️ Date: May 1st, 2025

🕡 Time: 6:30pm-8:30pm

🏢 Location: Lendmarq, 290 Post Road West, Westport, CT 06880

Hosted by David Devito & Joseph V. Scorese, this event is sponsored by Lendmarq, Elite Deal Makers, and MB Capital Solutions. Enjoy lite beverages & snacks while networking with fellow real estate professionals and investors.

ℹ️ The Elite Dealmakers – CT Masterminding meetings provide a platform for sharing ideas, strategies, and experiences in the real estate industry. Don't miss the chance to gain insights from active investors and peers on deal analysis, financing, property management, mindset shifts, and more.

🔍 Topics Covered:

- Deal analysis

- Financing / Creative Financing

- Working with lenders and buyers

- Property management / buy n hold

- Mindset shifts

- Collaborating with other business owners

- Access to private money

- Current market trends

Secure your spot by registering at the link provided. Join us for an evening of learning, networking, and collaboration!

#RealEstate #Networking #AssetBasedLending #UnderwritingLoans #EliteDealmakersCT

hey @Greg M.
Thanks for your reply. In lease it says that: 
"We may also enter the Dwelling at reasonable times to show the Dwelling to possible or actual purchasers, mortgage lenders, tenants, workmen or contractors.
We will give you reasonable notice of our intent to enter the Dwelling. You will not unreasonably deny us the right to enter the Dwelling. We may also enter the Dwelling at any time without your consent in case of emergency."
Not sure about the law thing over here. 
I did gave her option that, either she can have her friend during showing or I can record each showing before entry till exit to make sure that nothing of her's is touched. Still she say's it is not OK.

There are many contributing factors into why this is happening nationwide, and not just CT. 

Carriers catching up to inflation (insurance lags behind inflation), and cost of replacing roofs/cars/houses.... It costs more now to replace/fix a car. Body shops are taking forever to fix them and car rentals are taking longer, which the carrier is paying for is just one example of many. Roofs are double what they used to cost 5-10 years ago. 

They say there have also been more severe weather events. This means events that cause over $1B in damages. I am not sure if there are more events, or materials/labor just costs more for them to say it is a severe event. I posed this question to the head of Travelers personal insurance department at their HQ. He couldn't give me an answer on that!

Carriers cannot match what is needed to charge in certain states that limit what they can raise their rates too. This causes them to add restrictions, or just pull out of the market all together. If you are losing billions of dollars and can't match the rate required due to the state insurance department not allowing it, there is no need to continue business. 

All coastal states have a possibility to be hit by a major weather event. You might think CT doesn't have any, but being on the coast there is always a change of a hurricane, or other severe weather events. 

Many carriers, like Progressive, insure nationwide, and when severe weather events hit an area, it wipes out all premiums they had nationwide. This also causes them to raise rates or just get out all together. 

Insurance also needed a reset after they were insuring homes at $700-1,000/year ($300,000+ dwelling coverage) with a $1,000 deductible. Think, how can they cover expenses insuring homes at this amount with a deductible the same as your car! 

I know none of this will make anyone feel bad for the carriers, but they are a business and they are just matching what it costs to not lose billions of dollars.