Our Top Tips for Finding and Vetting a Good Insurance Carrier

The SFR Show - En podcast af Roofstock

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In this episode Emil, Tom and Michael discuss the most important factors to consider when looking for insurance. --- Emil:  Hey everyone, welcome back for another episode of your favorite show The Remote Real Estate Investor. My name is Emil Shour. And today I'm joined by my co host,   Tom: Tom Schneider   Michael: Michael Albaum.   Emil: So in today's episode, we're going to be talking about how to find and vet an insurance provider. So let's hop into this one.   Emil: Alright guys, before we hop in, let's talk updates, what's going on your real estate investing lives?   Michael: So I had that six unit under contract I was talking about last time that fell out buyer couldn't perform, I was pretty frustrated with the whole contract of itself. I did a poor job reviewing it, but my agent didn't point out a couple pretty big ticket items that were included in that contract. And so I fired him this morning, and I'm gonna be placing that listing with somebody else. It was an uncomfortable conversation, but I think one that had to be had. And, you know, he asked me point blank, he says, What are you unhappy with the service? And I tell him, yeah, these are my issues that I'm having with it alone as independent issues, not a big deal, but kind of cumulatively, they cause me a lot of heartache. And the other thing I didn't realize is that I had signed a year long agreement with this listing agent, which goes against every fiber of my being. But again, it was something that I rushed and didn't do a good job looking at. So anytime you're signing a listing agreement with an agent, be very particular about the length of time in which that contract is enforced for.   Tom: I love these episodes, and kind of respect Atomy stuff, putting a lot of these learnings forward to limit people in the future for making them. So looking back retrospect when you initially vetted this agent, and we'll do another episode, you know, more specific on the agent side, but what would you have done differently? I mean, one, you mentioned the one year listing agreement, what else anything else you would have done to suss out this subpar?   Michael: Yeah, he was a recommendation from my property manager who I like quite a bit, and I was kind of looking to get it done pretty quick. So I said, Okay, sure. Yeah, we'll go with your guy. That sounds great. They've already got a pre existing relationship. I didn't think about this other group that I already had done a bunch of deals with, because my agent friend had ended up he had left that group. And so I said, Oh, well just use him for everything. And then he left the picture. So I didn't really have a good person to reach out to so this is a personal reference. Cool, just go that route. But absolutely, I should have interviewed some other folks. But I was looking to get it done too quickly. So didn't listen to my own advice. And yet again, it's come to bite me in the rear. So I don't know why I think that'll stop happening one day, it just clearly is it won't   Tom: Good. Take away. Good take away.   Michael: Yeah. What about you, Tom? What you got going on?   Tom: Oh, not a lot still waiting on this refi close at the Wheelock wine wine wine complaint complaints, snail mail, blah, blah, blah. I just listened to our last week's episode, kind of related kind of unrelated, we're going into another week of bad air and in California, these fires and my wife are playing around the idea of Oh, you know, what if we you know, live or move around a little bit and one idea remote real estate invested kind of relating is like what if we like bought a house in an area that we are bullish on investing, you know, bought one probably more of appreciation play in like a Raleigh or like a Columbia, South Carolina or, and we go and live in it for like six months or a year, rent our house here in California, and then come back to California. And we also have, you know, turn that other one into a rental. So playing around w

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