Rental Property Insurance Pitfalls with Attorney Galen Hair

 

Rental Property Insurance Pitfalls with Attorney Galen Hair

 

Guest (Attorney Galen Hair): New Orleans Attorney Galen Hair is an expert in avoiding rental property insurance pitfalls.  At any given time Galen and his team are involved in helping several hundred people obtain full payment from insurance companies for catastrophic loss.

 

Big Idea: Rental property insurance policies are designed NOT to pay out.  Galen Hair & I discuss the process for purchasing a property insurance policy.  I personally own dozens of properties and have flipped well over 1,000, and I’ve NEVER bought insurance with the level of due diligence coached by Galen.  You may not have the insurance protection you believe you bought….

 

 

    

 

Dan Breslin: Today we are joined by New Orleans Attorney Galen Hair who is an expert in avoiding rental property insurance pitfalls. At any given time, Galen and his team are involved in helping several 100 people obtain full payment from insurance companies for catastrophic losses. A catastrophic loss would be considered a very large claim usually a fire in the context of us real estate investors. The thing is, many rental property insurance policies are actually designed not to pay out completely in those catastrophic events.

During this episode, Galen and I discussed the right process for purchasing a property insurance policy. I personally own dozens of properties and have flipped well over 1000 and I have never bought insurance with the level of due diligence coached by Galen on today’s episode, you may not have the insurance protection that you believe you bought. Let’s begin.

Alright, welcome to the REI diamond show. Galen, how are you doing?

Galen Hair: I’m great. How are you doing?

Dan: Nice. I am also great. We had like 60-degree weather here. It’s December in Chicago, which is unique for us this time of year. So no one’s complaining about the weather right now. Whereabouts are you recording in from and live and invest in that kind of thing?

Galen: Yeah, so our office is based in New Orleans. Essentially, that’s where I live. Spend most of my time here. Unfortunately though, given my line of work, I kind of have to follow disasters where they are. So I will move around, probably head to the Midwest next week because of some tornadoes that just kind of blew through everything during hurricane season, I kind of moved from Hurricane to hurricane but most of my life and work are in New Orleans. And the weather is crazy in New Orleans if anyone follows that. So I think today, it’s pretty good. It’s like 65. But a couple of days ago we were in like the 30s. So it’s just all over the place.

Dan: So just to kind of give people a little bit of background, if you would touch on maybe some of your real estate experience, and then kind of encapsulate what it is that you do in your business model now and how that fits in for real estate investors listening.

Galen: Yeah, so real estate-wise, I’m definitely an amateur. I do identify properties that make sense for us to pick up kind of in and around the New Orleans area. And what I’ll do is buy those, fix them up and actively rent them out. I find that that’s an easier model for me than flipping, although the markets are pretty good here. It produces revenue. So for me, as long as it’s cash positive, it’s an investment that I’m kind of interested in. But I don’t do more than maybe two a year.

 

This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/

 

This Episode is Also Sponsored by the Lending Home. Lending Home Offers Reliable & Low Cost Fix & Flip Loans with Interest Rates as Low as 6.99%.  Buy & Hold Loans Offered Even Lower.  Get a FREE IPad when you Close Your First Deal by Registering Now at  http://REILineOfCredit.com

 

Resources mentioned in this episode:

www.InsuranceClaimHQ.com

 

For Access to Real Estate Deals You Can Buy & Sell for Profit:

https://AccessRealEstateDeals.com/

 

Galen Hair & I Discuss Rental Property Insurance:

  • Rental Property Insurance Policy Pitfalls-written to avoid paying claims

  • How to Make a Claim in the Event of Catastrophic loss

  • Choosing Enough Coverage When Buying a Policy

  • The Sneaky Practice of “Co-Insurance”


    

Relevant Episodes: (There are 205 Content Packed Interviews in Total)

 

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.

How to Release Home Equity WITHOUT a Refi, Monthly Payments, or Mortgage with Matthew Sullivan

 

Episode: How to Release Home Equity WITHOUT a Refi or Payments-a conversation with Matthew Sullivan

Guest: Matthew Sullivan is the Founder & CEO of QuantumRE as well as the host of his own podcast, “Hooked on Startups”. He is originally from London and has a background working with Richard Branson’s corporate finance team and was a director of the Virgin-sponsored London Air Ambulance.  Matthew has created a new method allowing homeowners to release home equity without a refi.

Big Idea: How to Cash Out Home Equity while making NO monthly payments.  Add in blockchain technology to provide a secondary market for real estate investors to participate in hot real estate markets around the world in a truly passive manner.

 

 

    

Dan Breslin: Matthew joins us today sharing his unique business model of providing cash to homeowners without a refi mortgage or monthly payments. The conversation includes tokenization of real estate through blockchain technology, the underwriting process to obtain this cash, and a brief history of Matthew’s background as a helicopter pilot and how that applies to running a business. Let us begin.

All right, Matthew Sullivan, welcome to the REI Diamond Show. How are you doing today?

Matthew Sullivan: Very well, Dan. Thanks for having me on.

Dan: Nice. So you have a bit of a history, which, I mean, maybe people already recognize the accent. But do you want to kind of talk about where you came from in your career and kind of how it evolved to what you are doing today?

Matthew: Yes, of course. So I am originally from England and I moved to Southern California about seven years ago. And before that, I had spent about the last previous twenty-something years and really running my own businesses in finance, telecommunications, and technology. I think back in the late 90’s I had the amazing privilege of working closely with Sir Richard Branson as well for a few years and it was involved with a number of companies like Virgin Cosmetics, Virgin Clothing.

I was a trustee of the London Air Ambulance that was sponsored by Virgin, so that was a fantastic time. I moved here with a big changed in circumstances back in England, so fresh start over here. And the first thing I did was just launch myself into real estate, which is something that I always wanted to do when I was in the UK, but I got distracted by the internet and other sorts of platforms. So, it was really a great opportunity to explore this fantastic universe of real estate.

Dan: Nice. Okay, so a couple of things before we dive into some of our big topics here. But I am curious, I do not know a lot about UK real estate. I have heard that it operates a little bit differently, it is more constrained, there is not the type of supply of real estate that we have in almost all the markets in the US. Would you mind shedding some light on that assumption for me?

Matthew: Yes. Well again, I did not have any great exposure to the real estate markets in the UK, so all of my real operating experience comes from the US. But I can tell you from my experiences as an investor, as a business person in the UK, property there, obviously it is a much smaller country, so you have got far fewer people and the number of opportunities is nowhere near as numerous as they are in the US.

Real estate in the US is a multi-layered industry, which comprises everything from huge public company investments down to individuals that are fixing and flipping. There is a large private money universe. One of the things that you do not have so much in the UK, so you do not have that same depth to the private capital. And also there is just nowhere near the scale of real estate opportunities that you see over here. If you look at just California for example, the size of the Californian economy is not far off the size of the UK economy and so that just puts it into perspective. It is much bigger over here, much faster-moving, and is much more the bedrock of the economy as a whole.

 

Episode Sponsored by the Deal Machine:

Driving for Dollars Software to Build a Team of Drivers, Manage Routes, & Even Automate Marketing.  Free Access at  http://REIDealMachine.com/

 

Resources mentioned in this episode:

www.QuantumRE.com

 

Matthew & I Discuss How to Release Home Equity

  • What is a “Home Equity Contract”?

  • Own a Piece of Appreciation in Hot Markets

  • Tokenizing Residential Real Estate

  • Using Option Contracts instead of Mortgages

  • Cash Out Home Equity WITHOUT a Refi

    

Relevant Episodes: (There are 189 Content Packed Interviews in Total)

 

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.

Investing in Your LIFE, Not Just Your Portfolio with David Blain

David & I Discuss:

  • Classes/Category of Passive Investor

  • Real Estate as a BUSINESS

  • Allocation to Real Estate as Asset Class

  • When to Seek Financial Advice


Listen Now:

Relevant Episodes: (There are 162 Content Packed Interviews in Total)

 

Resources Mentioned in this Episode:

www.BlueSkyWa.com/realestate

www.DavidBlain.com

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Leveraging Legal Counsel to Grow Your Business with Denice Gierach

Denice & I Discuss:

  • $35 Million Development Project

  • Selecting the RIGHT Legal Counsel

  • Where to Find Businesses to Buy

  • Getting Your Business Ready to Sell


Listen Now:

Google Play

stitcher

Relevant Episodes: (There are 157 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.GierachLawFirm.com

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

From Corp America to Owning $42 Million in Multi-Family Real Estate with Agostino Pintus

Agostino & I Discuss:

  • Turning Around the “Fear Mentality”

  • Buying is Easy, RUNNING the Deal is the Hard Part

  • Never Underestimate the Power of Sales Skills


Listen Now:

Google Play

stitcher

Relevant Episodes: (There are 151 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

Text “FREEDOM” to 202-410-4202

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Cryptocurrency & the Potential Shifts in the Real Estate Industry with Gary Gilgen

Gary & I Discuss:

  • Potential Changes Stemming from Crypto

  • Why Crypto is a Horrible Investment

  • How Crypto might be a Great Investment

  • Importance of TIMING an Investment


Listen Now:

Google Play

stitcher

Relevant Episodes: (There are 150 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.GalacticTrust.com

www.CryptoInvestorSecrets.com

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.