Profit vs. Peril: The High Stakes Game of Property Insurance
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 2 August 2023
⏱️ 50 minutes
🧾️ Download transcript
Summary
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Visit Ken's Bookstore: https://kenmcelroy.com/books
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: https://mccompanies.com
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Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this podcast are accurate and up-to-date, all information contained on it is provided ‘as is.’ Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this podcast. Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites. All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate.
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Transcript
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| 0:00.0 | Welcome to the Real Estate Strategies podcast, where we host in-depth conversations on everything |
| 0:07.8 | real estate with the industry's biggest movers and shakers. I'm your host, Ken McElroy, joined by my |
| 0:13.9 | co-host, DeNeil. Let's get right into this episode. So today we had Jerry the Goodrich on, |
| 0:19.9 | and what a great guy. Yeah, he's so knowledgeable |
| 0:22.8 | insurance and I know a lot of you had insurance questions and we're going to be going over just, |
| 0:28.2 | you know, things that you need to make sure that you have done to make sure you're properly |
| 0:32.3 | covered and also some mistakes that he commonly sees landlords make. So enjoy the episode. |
| 0:38.5 | Hey, everybody. |
| 0:39.0 | It's Canada, Daniel here, and we're with Jeremy Goodrich. |
| 0:42.3 | So we're going to talk all insurance today. |
| 0:44.8 | Jeremy, thanks for joining us. |
| 0:47.0 | You know, insurance seems to be an incredibly odd topic right now. |
| 0:50.3 | I think you might know we've owned about $2 billion in multifamily. And so we're seeing |
| 0:56.1 | our premiums go crazy. You know, we're shifting our acquisition strategies as a result of insurance |
| 1:01.9 | costs. So, you know, we were originally trying to buy in Florida. Now we completely are not because |
| 1:07.6 | insurers are playing out of there. And it seems to be spilling over |
| 1:12.2 | into these other markets. And we're underwriting 30 and 40% increases for next year. And I know |
| 1:18.9 | we're not the only one. So can you kind of walk us through a little bit about your background? |
| 1:24.6 | Because I know you handle a lot of big large |
| 1:27.6 | insurance companies but also what's going on with the industry yeah absolutely ken daniel it's |
| 1:33.4 | really a pleasure to be on your show thanks so much for having me i don't know that i have like |
| 1:38.5 | great news for your listeners but i definitely have clarity and that's always been my goal is |
... |
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