20 min
2 Tips On Intelligently Navigating the Current Real Estate Market The SFR Show
-
- Investing
As you may have noticed, the market is crazy right now, and knowing what to do can be a challenge. Today we give a couple of quick tips on how you can make the most out of the current state of the real estate environment.
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Transcription
Michael:
Hey everybody, welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by my co hosts,
Tom:
Tom Schneider,
Emil:
And Emil Shour
Michael:
And today we're gonna be tackling what should you be doing right now given the current state of the market with interest rates, where they are and values doing what they're doing.
Alright guys, before we get into it, I just want to give a call out to all of our listeners, all of our watchers, we just launched our YouTube channel, we would love, love, love. If you came over and liked and subscribed to the channel, we've got tons of new content coming out regularly, I want to make sure everyone stays up to date. So that's a big help for us.
And as always, if there are content ideas that you want to hear an episode about, let us know drop us a line in the comment section. Wherever it is listen to your podcast. Alright guys, before we jump in today's episode, where are we at? How are things coming? Tom, you got your insurance all squared away, right?
Tom:
Yes, yeah. So what I did recently was a long story short, I guess short story long. My insurance is a bit of a mess on my rental properties. I was using this third party company and they kind of dropped the ball where I paid to renew but they like sent me a refund. I mean, this I'm probably it's probably my fault. But anyways, short story long, I ended up getting lender placed insurance for like a few months. And wouldn't lender place insurance. It's not necessarily what you want, you're maybe not getting the coverage you want, you're probably paying way more than you should. So what I did through the the prodding and poking of a meal and Michael to keep me going is I did some bundling, I went to my home insurance, the company that does my house and my cars. And I added my rental properties all on on one gigantic policy, I would say you know, when it's all said and done, my costs on my insurance are probably pretty comparable to what they were but the coverages was way more expansive, with a little bit lower deductibles and just a little more, those blankets at night are a little bit warmer, the pillows a little bit softer of comfortable.
So did that finishing up refining, seeing a couple of rentals, getting them all refinance, actually under the same lender that ended up buying a bunch of my other loans. So it's there's some convenience there of having it all through the same lender first a bunch of the rentals that I have. So that's my…
Michael:
Nice, Emil, what's good in your world?
Emil:
Tom, I just want to first say how proud I am of you that you did it, man. like six months, but you did it to there.
Tom:
Yeah. There are things in this world that you know, like wouldn't take a lot of effort. But for whatever reason, it was in this like rebellious little part of you, like just doesn't want to do it. And like the moment you do it, it's like, gosh, why did I do that like a long time ago. And that kind of stuff like pops up all over the place? You just need to get through the fog and just, you know, just do I don't know. But thank you. No, thank you that positive reinforcement has me geared up to continue to do things that I for whatever reason, like the rebelliously like have a hard time finishing through on so thanks, man.
Michael:
Yeah, Tom. I'm also proud of you. Nice work, man.
Tom:
Michael, that sounds fake. Thanks, Emil.
Michael:
Just kidding.
Emil:
I'm actually proud of you. Michael is patronizing you.
Michael:
I'm just frustrated how long it took. But I'm one of those people, you know, you can only take the horse to water not calling you a horse by any means.
Tom:
It's about the journey, Mich
As you may have noticed, the market is crazy right now, and knowing what to do can be a challenge. Today we give a couple of quick tips on how you can make the most out of the current state of the real estate environment.
---
Transcription
Michael:
Hey everybody, welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by my co hosts,
Tom:
Tom Schneider,
Emil:
And Emil Shour
Michael:
And today we're gonna be tackling what should you be doing right now given the current state of the market with interest rates, where they are and values doing what they're doing.
Alright guys, before we get into it, I just want to give a call out to all of our listeners, all of our watchers, we just launched our YouTube channel, we would love, love, love. If you came over and liked and subscribed to the channel, we've got tons of new content coming out regularly, I want to make sure everyone stays up to date. So that's a big help for us.
And as always, if there are content ideas that you want to hear an episode about, let us know drop us a line in the comment section. Wherever it is listen to your podcast. Alright guys, before we jump in today's episode, where are we at? How are things coming? Tom, you got your insurance all squared away, right?
Tom:
Yes, yeah. So what I did recently was a long story short, I guess short story long. My insurance is a bit of a mess on my rental properties. I was using this third party company and they kind of dropped the ball where I paid to renew but they like sent me a refund. I mean, this I'm probably it's probably my fault. But anyways, short story long, I ended up getting lender placed insurance for like a few months. And wouldn't lender place insurance. It's not necessarily what you want, you're maybe not getting the coverage you want, you're probably paying way more than you should. So what I did through the the prodding and poking of a meal and Michael to keep me going is I did some bundling, I went to my home insurance, the company that does my house and my cars. And I added my rental properties all on on one gigantic policy, I would say you know, when it's all said and done, my costs on my insurance are probably pretty comparable to what they were but the coverages was way more expansive, with a little bit lower deductibles and just a little more, those blankets at night are a little bit warmer, the pillows a little bit softer of comfortable.
So did that finishing up refining, seeing a couple of rentals, getting them all refinance, actually under the same lender that ended up buying a bunch of my other loans. So it's there's some convenience there of having it all through the same lender first a bunch of the rentals that I have. So that's my…
Michael:
Nice, Emil, what's good in your world?
Emil:
Tom, I just want to first say how proud I am of you that you did it, man. like six months, but you did it to there.
Tom:
Yeah. There are things in this world that you know, like wouldn't take a lot of effort. But for whatever reason, it was in this like rebellious little part of you, like just doesn't want to do it. And like the moment you do it, it's like, gosh, why did I do that like a long time ago. And that kind of stuff like pops up all over the place? You just need to get through the fog and just, you know, just do I don't know. But thank you. No, thank you that positive reinforcement has me geared up to continue to do things that I for whatever reason, like the rebelliously like have a hard time finishing through on so thanks, man.
Michael:
Yeah, Tom. I'm also proud of you. Nice work, man.
Tom:
Michael, that sounds fake. Thanks, Emil.
Michael:
Just kidding.
Emil:
I'm actually proud of you. Michael is patronizing you.
Michael:
I'm just frustrated how long it took. But I'm one of those people, you know, you can only take the horse to water not calling you a horse by any means.
Tom:
It's about the journey, Mich
20 min