MHP #726: A Guide to Choosing the Right Insurance for your Mobile Home Park

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

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4.9 • 675 Ratings

🗓️ 3 April 2024

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of the Mobile Home Park Investing Podcast, Kevin shares the mic with Kurt Kelly; Mobile Home Insurance Expert based in Texas.

Often times, insuring your investment property will not come through a large insurance house like State Farm. There are many special cases mobile home park owners will need to account for in order to ensure all bases are covered.

Kurt goes through the list of 10 major pitfalls park owners face when choosing insurance, and how to deal with them.

HIGHLIGHTS:

[7:07] What is Kurt’s background?
[12:29] What is the first biggest mistake park owners make when finding insurance?
[22:34] Is there a point where you can actually overinsure?
[39:20] What is Data Breach and Discrimination coverage?
[51:22] Kurt’s final words of wisdom

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Grab a free copy of my latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park...and how to avoid them MobileHomeParkAcademy.com

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Transcript

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0:00.0	Hey guys, Kevin Bup here. Just wanted to make a quick announcement about our Wednesday Mobile Home Park show that you're about to listen to.
0:06.4	These Wednesday episodes are in collaboration with my other podcast, the Mobile Home Park Investing Podcast, many of which were recorded a few years ago.
0:14.1	I've carefully hand-selected only material that I feel is still relevant today, but there's a chance you might find references that could be outdated
0:20.9	at present, such as website URLs. Thanks for tuning in, and now on to the show.
0:27.2	Welcome to this week's Mobile Home Park Investing Podcast that will teach you how to successfully
0:32.1	invest in and build steady streams of passive income from the highly lucrative niche of mobile home parks.
0:38.3	With decades of experience, Kevin Bup will personally share with you the valuable lessons he's learned along his journey
0:44.3	so that you too can learn how to generate cash flow and build legacy wealth for you and your family.
0:51.3	Now, without further ado, let's welcome your host for today's show, Kevin
0:56.0	Bob. I'm your host Kevin Bob, and in today's show, we're going to be speaking with mobile home
1:00.8	park insurance expert, Kurt Kelly. Now, Kirk is the president of mobile insurance, which
1:05.9	ensures more mobile home park and retailers than any other agency in the country. He's an honors graduate from both the
1:12.0	University of Colorado and the University of Oklahoma Law School. Kurt has been a part of mobile
1:17.1	insurance since 1996 when it had only five employees. Kurt's not only proud of the company's steady
1:23.4	growth and extraordinary client retention rate, but also of the nice home and job stability
1:27.7	provides for all of Mobile's employees. Kurt is also the president of expert climate control LLC,
1:34.2	a heating and air conditioning company specializing in multifamily projects and headquartered in Texas.
1:39.8	Kurt owns and manages multiple investment real estate properties as well. His favorite hobbies include
1:44.6	regular workday lunches with his wife, climbing, skiing, motorcycling, target shooting, and reading.
1:50.8	So guys, today we're going to cover the exciting topic of insurance. But more specifically,
1:56.9	the ins and outs of properly insuring your mobile home park to ensure overall peace of mind
2:02.2	knowing that your valuable asset is adequately protected. And I think one of the most important
	...

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