All Forum Posts by: Nathan Hathorn

@Edwin Batte it depends with our carriers. Most of them are written on a "personal" policy to where it's in your name and then we name the LLC as an additional named insured in the policy to protect the LLC for liability as well as the property. The banks are fine with it being done this way. On folks that have a large schedule of rentals we have to do a commercial policy under the LLC as most personal carriers only allow a certain amount of rentals. Hope that helps! Thanks

@Edwin Batte I'm an independent agent in Abilene as well as a real estate investor. We can definitely help you out with that and an LLC isn't a problem. 325-733-1333 and Kellye can get you fixed up!

@Jay Rhodes Barnett and Hill would be my recommendation. Mitch or John are the owners

@Andrew Hamlett, I own Silverthorne Insurance Brokers. We are an independent insurance agency in Abilene. Being an independent agent gives me the ability to offer my clients multiple options/quotes. I am a real estate investor as well, so we have really good markets for any type of landlord policy you might need. I have a lot of options as far as coverage levels, pricing, etc. depending upon what your goals in protecting your investments are. We can write multiple properties on one policy or we can write individual policies per property. We also have options at replacement cost (RCV) or actual cash value (ACV). 325-733-1333 is the office number (ask for Katie or Kellye) or you can email [email protected] and someone on my team will get you taken care of. It’s a quick and easy process and we would be glad to help you protect your investments and pair you with policies that fit your needs. Thanks!

Late to this thread and don't get on BP enough, but I’m an Abilene investor/developer/flipper and an independent insurance agent here in Abilene as well. I specialize in working with real estate investors on the insurance side, developing cool/old buildings in downtown Abilene, flipping houses, finding deals, and I spend a lot of time looking at the Abilene real estate market. I invest in commercial, multi-family, and also single family residences.

First of all, don't be too scared of flood insurance! FEMA used to set the rates on flood insurance, and it was high. However, now we have what's called "private market" flood insurance. It's probably 1/2 of what the FEMA rates used to be. I'm talking as low as $300-$400 per year on a SFR depending on the value. Call or email me and I can help you on flood insurance as well as insuring the property while you own it or flip it.

To further my flood insurance point, I have several of my own buy and hold properties (both residential and commercial) in the flood zone and they are two of my best cash flowing properties in my portfolio right now. The risk of your property actually flooding in Abilene is minimal because the majority of the "risk" of flood in Abilene is due to creeks and not large bodies of water. So the damage should be minimal if it does occur. Plus, the city has fixed most, if not all, of the drainage issues in residential areas (don't hold that statement against me when you property floods though lol!). But I have been in the insurance industry for over 10 years and I have yet to have a flood insurance claim that I can remember locally!

Also, in certain cases, you can just carry the minimum amount that you have to satisfy your lender and if you are a cash deal or if you go without, just know that you are probably going to have to replace some sheet rock and flooring in the rare event that your property does somehow flood if you go without it. Whether it's covered on your insurance or not, it's not going to be a huge cost with a rental property most likely. We can discuss more on why in person or over the phone.

Part of the reason i'm posting is that I can likely help a lot of people on this thread and I'm sure a lot of you could help me as well. I can help you stay on top of lots of the topics above, be properly covered from an insurance standpoint, and keep your fixed costs low with things I've learned over the years (including local contractor knowledge). 

Fun fact, sometimes a property being in the flood zone is an opportunity for an investor when everyone else is avoiding those properties. A good deal is a good deal. I certainly understand that being a factor that kicks a deal out of consideration (especially when you don't live here and don't know the different pockets around town), but I can help you both on the investment side of things due to my knowledge of the Abilene market, as well as my knowledge on the insurance side of things.

By the way, my parents and I just started flipping houses on the side, so if any of you ever have a property that might be a good flip please let me know. We are interested in nicer neighborhoods. Thanks!

My schedule is flexible, so whatever works for the majority of people

Ben, what’s the address? I could be interested in purchasing or might know of someone that would be interested depending on where it is

Let’s do it. Would y’all prefer lunch? Coffee? Happy hour? I’ve got little kids, so usually during working hours is best for me if that works for others. I’ve probably got some friends and clients that enjoy real estate that I could invite as well. 

I know the seller. It's closing next week I'm pretty sure