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Multifamily Insurance And Risk Management Holistic Strategy In Your Property Management Business With Calvin Roberts
Description
One of the most complicated parts to navigate when you own a property management company is the different types of insurance and risk management you have to know and have.
Property management growth expert, Jason Hull brought on Calvin Roberts of Falcon Insurance to discuss everything you should know about insurance and risk management as a property manager.
You'll Learn…
[01:26] Introduction to Calvin and Falcon Insurance
[05:46] Risk Management and Property Management
[13:24] Holistic Risk Management Strategies
[17:57] The Types of Insurance Coverage
[25:25] Insurance Best Practices and Tips
[29:56] Tenant Legal Liability
Tweetables
"It's the true risk management angle that I find to be sort of like chess. That's why I think it's interesting because one move counters another."
"It's just making your rights known in the lease agreement that will hopefully alleviate the vast majority of instances like this before it could ever find its way to a courtroom."
"If you don't feel like you're progressing or moving forward in your business, you just might not have a big enough goal. So set your stake a little bit bigger, a little bit higher."
"I think cyber's a great idea for everyone. I carry cyber liability insurance on my own insurance policy for Falcon. It's fairly cheap, and it does add a lot of value."
Resources
Transcript[00:00:00] [00:00:00] Calvin: If you haven't gone through all of the building limits with your insurance broker over the last three years, and really over the last year, maybe two years, it's probably significantly underinsured. I read the statistic recently that over 75% of buildings-- commercial investment real estate-- are underinsured by 40% or more
[00:00:25] Jason Hull: All right. Welcome Doorgrow Hackers to the DoorGrowShow. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you're interested in growing in business and life, and you're open to doing things a bit differently, then you are a DoorGrow Hacker. DoorGrow Hackers love the opportunities, daily variety, unique challenges and freedom that property management brings. Many in real estate think you're crazy for doing it. You think they're crazy for not because you realize that property management is the ultimate, high trust gateway to real estate deals, relationships, and residual income. At DoorGrow, we are on a mission to transform property management business owners and their businesses. We want to transform the industry, eliminate the bs, build awareness, change perception, expand the market, and help the best property management entrepreneurs win. I'm your host, property management growth expert, Jason Hull, the founder, and CEO of DoorGrow. Now let's get into the show.
[00:01:26] So my guest today who I'm hanging out with is Calvin Roberts of Falcon Insurance Agency.
[00:01:34] So Calvin, welcome to the show.
[00:01:37] Calvin: Awesome. Thank you once again for having me today. I appreciate the opportunity to speak with you and super excited.
[00:01:44] Jason H