Today we're going to talk about an item that every Rental Property Owner has, but many of us don't think about or understand until something Bad Happens. I'm talking about Your Rental Property Insurance Policy.
There are many ways that you can use Insurance to protect your wealth and property, and there are many ways to make mistakes that will cost you money if and when the time ever comes that you need to make a claim against that insurance policy.
So I've invited my Insurance Broker, Mike Murphy from J.B. Harrison Insurance, to talk about the common mistakes he sees investors making on their insurance coverage and policies. Mike will also share his suggestions on how to make sure you have the proper coverage that will manage your risk, save you money, and add value to your portfolio.
I also want to thank Mike Murphy for being a new sponsor to this show. I've been working with him for five years now, and he's my "go-to" insurance broker for all my residential properties.
You can contact Mike by phone or email:
Quite often real estate investors start out by managing their own properties and once they acquire a certain number of units they decide to hire a Third-Party Professional Property Management Company to looks after their portfolio. My guest today decided to go in the opposite direction.
After working with several property management companies, Ben Blake figured that he could save himself money and headaches by taking control of the property management on his 12-unit portfolio in Grand Rapids, Michigan. Today we talk about how he went about doing that and the improvement in his cashflow as a result.
Ben also shares how one of his celebrity teammates from his College Football days helped him get started in real estate investing, and the influence he had on his early career. Ben also shares some of the early mistakes he made in screening tenants and the problems he encountered because of those mistakes.
If you're going to manage your own properties you need to make sure you have the right team and technology in place. Ben shares how he uses Buildium, Rently, and Quickbooks to keep his business running smoothly. He also shares how he works with his tenants and handles maintenance to control expenses.
I know you're going to enjoy this episode. Ben has a lot of great wisdom and experience to share, as well as tools that can save you time and money. You can contact Ben through email at: firstname.lastname@example.org
Sooner or Later, every one of us will be faced with the challenges of providing safe and comfortable housing for our aging population. Whether you're looking for a housing solution for yourself or a family member, or you're an investor interested in profiting from this need while doing good for others, there is a lot of information you need to know before going down this road.
Gene Guarino is a CFP, Founder of The Residential Assisted Living Academy, and is regarded as an expert in the residential senior housing space. Gene has taught many investors how to profit from Residential Assisted Living while helping others at the same time. Today he's going to share how you can participate as a real estate investor, business owner, or simply a passive investor in this fast growing field.
Gene will also be one of our featured speakers at the RPOA's Annual Michigan Landlord & Real Estate Investor FREE Conference & Expo which is happening in Grand Rapids, Michigan from February 21 through 23, 2019. This is the largest Landlord & Real Estate Investor Conference in the Midwest, and you can register for free at:
I know you're going to enjoy listening to my conversation with Gene. Senior Assisted Housing is a fast growing investment opportunity that is, and will continue to be, very much in demand.
Many Savvy Real Estate Investors are making a lot of money by renting out their property as short term rentals through sites like Airbnb.com. Some are getting 3 to 4 times what they would be making from a long-term rental. But for every investor who's making a killing with their short-term rental, there's another investor who either hasn't gotten started or is losing money because they're doing it wrong.
Today we talk about the nuts & bolts techniques involved in successful short-term rental investing with Frederick Kidd, who has been managing and operating short-term rentals for the past eight years. Frederick owns and operates his own short-term rentals in the West Michigan area and the Chicago metro market. he also provides full-service management of short-term rentals and rental properties through his company, Silver Lakes Property Management, which currently manages short-term rentals for clients located in Benton Harbor, Grand Haven, Spring Lake and Manistee, Michigan.
Frederick is going to share his best practices for managing short-term rentals remotely, finding the right team members, understanding the expenses, getting the 5-star ratings from guests, communicating effectively when problems occur, and the top things you must do to be successful.
When it comes to short-term rentals the details really do make the difference, and Frederick is going to get specific about what thread count his sheets must have, whether or not he leaves condiments in the fridge, where he buys his mattresses, and the top five things you must stock up on to make your guest feel at home.
This episode is a 'must-listen' for anyone interested in making more money from their rental property. Frederick can be contacted through his websites or email: