An interview-based program that dives into the investor mindset when challenges arise. We explore the decision-making process of successful real estate investors, learn about their mistakes and how you can make the right decisions to make you successful.
Episode 20: Strategies to Lower Insurance Costs and Create Additional Revenue Streams
Going into 2020, Matt sees insurance costs on good renewals increase by 20 percent. In situations where investors had a prior claim, he has seen rates increase upwards of 70 percent. Investors that did not include a contingency in their underwriting for significant expense increases and purchased properties in the past few years could be faced with a substantial reduction in returns. Matt Moylan is a Risk Strategist that assists real estate investors in implementing creative insurance solutions to protect their assets. He provides us with insight into how insurance companies view the risk of a multifamily asset and offer some general guidelines to consider when selecting coverage. He also shares with us one of many ways he helps his clients not only reduce insurance costs but produce additional passive revenue streams.
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Advice to Listeners: Relationships are critical. Find a broker that specializes in working with multifamily real estate properties, conduct due diligence, and as you grow, find the one that has the products available to suit your needs.
About Matt Moylan:
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Matt is a highly accomplished sales professional having over six years of experience in the insurance industry with advanced expertise in networking, prospecting, customer relations, and sales-closing principles.
He enjoys educating, motivating others, and helping improve the community.
He is currently focused on connecting with multifamily real estate, family office executives, high net worth families, executives in the beverage industry, business owners, organizational leaders, and company shareholders to partner together to not only help one another in business but to improve communities and help others.
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Suggested Books:
Connect:
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1. Deductible buy down Article (5 part series consolidated)
https://www.linkedin.com/pulse/insurance-deductible-buy-down-programs-5-things-know-matt-moylan/
2. Mitigation Minute
https://mitigationminutemm.wixsite.com/mitigationminute
There is also a link in my LinkedIn profile
3. LinkedIn Profile
4. Passive Income Program
To sign up, send your name and email to mmoylan@thomasmcgee.com
Subject Line: Interested In Passive Income
Date: Tuesday, March 17th at 10 am EST
Audience: Investors with or will have over 150 doors in next 12 months
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About Dion:
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Dion Huey is a Co-founder at Delta Bridge Capital LLC which is a multifamily real estate investment company that invests in value-add apartment communities in the United States. He earned a master's degree in finance at Northeastern University in 2017 and worked on multiple business syndications as a financial analyst for Boston-based Plateau Asset Management which is a private equity search fund that has $30 million AUM. In 2017, Dion was an analyst on a deal team that advised Citic Investment Bank's Hong Kong private equity division on the syndication of a $1.5 billion acquisition of a hotel in New York. He is currently the host of The Multifamily Investor Situation Room Podcast.
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In 2010 he co-founded Rocky Mountain Education and Technology Group which is a Beijing-based education services company that has serviced more than 5,000 clients. In his spare time, Dion enjoys reading, martial arts, lifting, and learning foreign languages. Contact the author at dion@deltabridgecap.com.