Rehabbing & House Flipping

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Will F.
  • Investor
  • Los Angeles County, CA
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Insurance for flipping

Will F.
  • Investor
  • Los Angeles County, CA
Posted Nov 3 2014, 14:18

What type of insurance do you all recommend for short term real estate holding and construction. Liability, etc? Also how do you generally hold title? LLC?

Our plan is to flip and only hold for 4-6 months.

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Jeremy Tillotson
  • Investor
  • Fort Wayne, IN
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Jeremy Tillotson
  • Investor
  • Fort Wayne, IN
Replied Feb 5 2015, 07:49

@Jeff S. NREI has monthly premiums. 

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Scott Beattie
  • Investor
  • San Ramon, CA
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Scott Beattie
  • Investor
  • San Ramon, CA
Replied Oct 19 2016, 13:50

Does anyone have contact info for NREI? Google turns up nothing.

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Matthew Marini
  • Real Estate Agent
  • Depew, NY
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Matthew Marini
  • Real Estate Agent
  • Depew, NY
Replied Apr 3 2017, 19:16

@Jason Bott Does this program still exist?  Found this thread through a google search for "Flip insurance".  

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Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
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Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
Replied Apr 4 2017, 10:35
Originally posted by @Didi Siani:

@Katie Neason 

I'm a flipper in South Florida doing 70 flips a year.

I need an insurance too.

Please PM me :)

 Still flipping in South Florida? Would love to connect.

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Jason Bott
  • Insurance Agent
  • Nationwide
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Jason Bott
  • Insurance Agent
  • Nationwide
Replied Apr 4 2017, 12:19

@Matthew Marini, it is thriving.  I will PM you the info.

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Shawn V.
  • Real Estate Investor
  • New Britain, CT
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Shawn V.
  • Real Estate Investor
  • New Britain, CT
Replied Apr 13 2017, 11:33

@Jason Bott Can you please send me that info as well if you have it.  I have read through this thread and am interested in getting more info.

Thanks.

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Jason Bott
  • Insurance Agent
  • Nationwide
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Jason Bott
  • Insurance Agent
  • Nationwide
Replied Apr 15 2017, 19:30
Originally posted by @Shawn V.:

@Jason Bott Can you please send me that info as well if you have it.  I have read through this thread and am interested in getting more info.

Thanks.

Not a problem.  I'm sending over now.

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Adam N.
  • Investor
  • Ohio
1
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Adam N.
  • Investor
  • Ohio
Replied Apr 16 2017, 14:22

May I please also be placed on your list to receive information? I am about to list my first flip and want to be prepared going forward. Thank you!

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Tony Wooldridge
  • Rental Property Investor
  • Walla Walla, WA
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Tony Wooldridge
  • Rental Property Investor
  • Walla Walla, WA
Replied Apr 16 2017, 22:06

@Jason Bott it appears that you have a hot item.  Would you mind adding me to the list as well.  Thanks for your consideration to this matter!

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Tony Wooldridge
  • Rental Property Investor
  • Walla Walla, WA
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Tony Wooldridge
  • Rental Property Investor
  • Walla Walla, WA
Replied Apr 16 2017, 22:07

Anybody used REIGuard?  Thanks ahead of time for the info!

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Matthew Marini
  • Real Estate Agent
  • Depew, NY
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Matthew Marini
  • Real Estate Agent
  • Depew, NY
Replied Apr 25 2017, 13:17

Looking into REIGuard is definitely worth the time.  Great support staff and communication, easy to understand proposals and quotes.  Insurance for Flipping and Buy & Hold projects.  I highly recommend contacting Jason Bott to get started.

I've spent a lot of time shopping insurance options locally and you really need to find an agent or company that understands this business.  You can have a real conversation with these people about what you do and they actually understand.  They understand Vacant, In Renovation, Occupied, etc....they make it super easy to change between them, it's billed monthly, and the policy also includes general liability coverage, I haven't come across this comprehensive of a plan yet.  

@Brandon Turner - We really need a podcast to discuss insurance needs, requirements, and options.  This is something so many newbies and experienced investors are still struggling with.

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Pete Pucci
  • Flipper
  • Montverde, FL
0
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Pete Pucci
  • Flipper
  • Montverde, FL
Replied Apr 25 2017, 16:58
Originally posted by @Jason Bott:

@Matthew Marini, it is thriving.  I will PM you the info.

 @Jason Bott Please PM me this info also.  Thanks

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Jason Bott
  • Insurance Agent
  • Nationwide
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Jason Bott
  • Insurance Agent
  • Nationwide
Replied Apr 25 2017, 21:11

@Pete Pucci I just emailed over to you.

@Tony Wooldridge I just sent over

@Matthew Marini I'm glad I could help with pointing you in the right direction for the flipping program and help with the rest of your business insurance.  I'm confident we can find some good options.  thanks again for the opportunity!

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Tony Wooldridge
  • Rental Property Investor
  • Walla Walla, WA
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Tony Wooldridge
  • Rental Property Investor
  • Walla Walla, WA
Replied Apr 25 2017, 21:17

@Matthew Marini I completely agree with your assessment of REIGuard.  They certainly seem so much more educated on the investor side of insuring houses.  I believe I am going to use them with my up and coming 1st Rehab.  

@Jason Bott thank you Sir, I got your colleague request and wanted to thank you for the info as well as your help!

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Jeff Filali
  • Rental Property Investor
  • Broken Arrow, OK
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Jeff Filali
  • Rental Property Investor
  • Broken Arrow, OK
Replied Apr 26 2017, 02:08

@Tony Wooldridge I've been using REIGuard for all my properties now since discovering them about 6 months ago.  Best discovery ever since started investing.  They've saved me a ton of money, and simplify the process.  I love how they put all your properties into one invoice, and send it to you early in the month with reminder to make any changes for that month.  This saves so much time, and prevents you from paying for properties you've sold, or reminds you to swap properties to occupied, etc.

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Will F.
  • Investor
  • Los Angeles County, CA
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Will F.
  • Investor
  • Los Angeles County, CA
Replied May 1 2017, 08:29
Originally posted by @Matthew Marini:

Looking into REIGuard is definitely worth the time.  Great support staff and communication, easy to understand proposals and quotes.  Insurance for Flipping and Buy & Hold projects.  I highly recommend contacting Jason Bott to get started.

I've spent a lot of time shopping insurance options locally and you really need to find an agent or company that understands this business.  You can have a real conversation with these people about what you do and they actually understand.  They understand Vacant, In Renovation, Occupied, etc....they make it super easy to change between them, it's billed monthly, and the policy also includes general liability coverage, I haven't come across this comprehensive of a plan yet.  

@Brandon Turner - We really need a podcast to discuss insurance needs, requirements, and options.  This is something so many newbies and experienced investors are still struggling with.

I agree Matthew. There's a lot of discussion about liability LLCs incorporating, then the whole insurance vs LLC debates.

I guess this all falls under asset protection.  

What do the Renovation insurance rates run on typical $500k SFR in Southern California?

I'd assume some hard money lenders would recommend or require this sort of insurance on a rehab/flip?

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Yia Her
  • Real Estate Investor
  • Sacramento, CA
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Yia Her
  • Real Estate Investor
  • Sacramento, CA
Replied May 24 2017, 13:31

@Jason Bott  would you email me the insurance info as well.  Would like to get more info on that.  I'm here in CA.  Thanks.   

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Elizabeth Moore
  • Real Estate Investor
  • Chapel Hill, NC
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Elizabeth Moore
  • Real Estate Investor
  • Chapel Hill, NC
Replied May 25 2017, 07:19

Jason Bott - I am interested in your insurance program for flipping. Will be starting a new project in a few weeks! Please pm me! Thanks!

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Jason Bott
  • Insurance Agent
  • Nationwide
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Jason Bott
  • Insurance Agent
  • Nationwide
Replied May 26 2017, 07:22

@Yia Her & @Elizabeth Moore, I sent via PM.  Good luck on the projects!

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Luis Acevedo
  • Investor
  • Tybee Island, GA
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Luis Acevedo
  • Investor
  • Tybee Island, GA
Replied May 26 2017, 09:28

@Jason Bott When you get a chance, I would like the insurance program for flipping. thank you in advance.

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Jason Bott
  • Insurance Agent
  • Nationwide
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Jason Bott
  • Insurance Agent
  • Nationwide
Replied May 30 2017, 18:30

@Luis Acevedo sending over now. 

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Account Closed
  • Investor
  • Canton, GA
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Account Closed
  • Investor
  • Canton, GA
Replied May 30 2017, 18:44

NREIG / REI Guard is the best option nationwide. Haven't found anyone that beats their policies. I use them exclusively for all my deals. http://nreig.com/

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Jason Bott
  • Insurance Agent
  • Nationwide
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Jason Bott
  • Insurance Agent
  • Nationwide
Replied May 30 2017, 20:00

@Account Closed They are a good option and one of many I offer my clients. 

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Matthew B.
  • Investor
  • Howey in the Hills, FL
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Matthew B.
  • Investor
  • Howey in the Hills, FL
Replied Dec 26 2017, 08:25

NREI does not offer named storm coverage - important for those of us in hurricane areas. Their product seemed perfect for me until I found that out.

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John Razz
  • Hazlet, NJ
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John Razz
  • Hazlet, NJ
Replied Feb 23 2018, 10:47

@Jason Bott - I am also interested in your insurance program for flipping. We will be starting a new business in the near future and would like additional information. Thank You.