All Forum Posts by: Jacob Passmore

@Jason Silbernagel

That's a fairly easy request there, I'd like to help you out on this, I do quite a bit of work in the DFW area!

I'll send over a colleague request!

@Sam Meador

I could probably help you out with that, I'll shoot over a colleague request. 

@Joshua Pavao

Is that a Federal Pacific "stab-lok" breaker by chance? 

I've just recently ran into a situation where an insurance company did an inspection and found my client to have a Federal Pacific Stab lok and they chose to come off risk. I can't tell from the pics, but it looks like one, and if it is then it's likely the reason why. There are companies that will still insure them. 

@Michael Badin

@Account Closed

I'm mainly tagging this tomorrow, because it seems like some good information that has been shared. And I want to look through it from a computer not mobile. But I'll chime in to see if others experiences are the same.

It would show on a clue, but it's weather related and there's nothing the new owners could do about that.. My concern would be the post binding inspection. We've seen a huge increase in inspections, and they are very closely looking at roofs. If it has lifted shingles, patches etc, in such cases the options are basically; fix it (new roof etc), exclude wind/hail (fire/lighting only), or NOC. Most of those scenarios occur around roofs that had paid claims and were never "fixed". I agree with Michael that it's also a selling point for future buyers. 

@Alvin Price

Congrats to you for being proactive, and wanting to have your stuff inline before your purchase.. Trust me, it's not always that way. 

Speaking only for insurance, my first questions as an agent are usually: tell me about yourself, what are your goals? what are planning to do with your home purchases? What type of homes you are looking for? Is it a JV? etc etc.. Based on those answers the insurance agent should be able to offer advice on the route to take.

@Benjamin Fritz

I know an awesome insurance agent who works great with investors :)... Depending on the size of your portfolio of properties, I try to place investors into programs that their insurance costs are set, and the only variable is the value of the home. In most of these programs the rate is .31-.89c/100 of Total insured valued. So for a 100k home you would be looking at $310-890 annually depending on the deductible you were comfortable with. I'll shoot you over some details

@Cory LaChance

Lake Jackson is a beautiful area! I played a many of football games in Angleton, good program out there!

There are several companies that will insure a rental in an LLC name.. Depending on how many properties you have it could also be time to consider a package policy that would include all of your rentals on one policy.

@Darryl Taylor

I do quite a bit of business in the DFW area.. I'll toss my hat into the ring. I'll shoot over a connect.

@Brian Stone

I'm not sure anyone is going to be able to accurately answer this one for you. Sure there are things to look over, such as the arrangement with the agency. The contract terms etc. Is there a stipend for the first year, two, three? Do you pay back what the stipend was, and the list goes on and on. Are you good at keeping track? Those are all tangible things that the job requires..

To really evaluate how well you'll like it, its maybe a bit deeper..For me, insurance, Is about the intangibles. How well can you handle rejection? Do you get up and go to work, even when someone isn't forcing you? Can you get told NO 50 times in a row, and then have the guts to ask the 51'st?

It's definitely not an overnight success, but it can be a worthwhile endeavor. And as far as connecting you to real estate.. it depends on what your focus is, if you're attempting to write life insurance all day long, then probably not etc. I'll shoot over a colleague request, feel free to run anything by me. 

@Austin Pretiger

I'll send over a connect! Welcome to BP