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A common thread running through Kemra Norsworthy’s career is that she doesn’t like to lose. From her time selling cars to many years in the mortgage and private lending industries,… more

The post Taking the Bull By the Horns appeared first on Think

A common thread running through Kemra Norsworthy’s career is that she doesn’t like to lose. From her time selling cars to many years in the mortgage and private lending industries,… more

The post Taking the Bull By the Horns appeared first on Think Realty | A Real Estate of Mind.

There are usually two strategies when it comes to growing a sales team: hire experienced talent or grow new talent. But there’s another way of thinking about your sales team:… more

The post Revolutionary or Evolutionary? appeared first on Think

There are usually two strategies when it comes to growing a sales team: hire experienced talent or grow new talent. But there’s another way of thinking about your sales team:… more

The post Revolutionary or Evolutionary? appeared first on Think Realty | A Real Estate of Mind.

Think Realty is providing you with another FREE WEBINAR! On July 25th at 11AM (CST), Zach LeMaster from Rent to Retirement will be speaking about “Turnkey Investing: How to Start,… more

The post Think

Think Realty is providing you with another FREE WEBINAR! On July 25th at 11AM (CST), Zach LeMaster from Rent to Retirement will be speaking about “Turnkey Investing: How to Start,… more

The post Think Realty Webinar: Turnkey Investing: How to Start, Scale, Diversify & Build a Portfolio appeared first on Think Realty | A Real Estate of Mind.

Think Realty is providing you with another FREE WEBINAR! On June 22nd at 2PM (CST), a panel of experts will be speaking about “Investing in Florida.”   This webinar will… more

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Think Realty is providing you with another FREE WEBINAR! On June 22nd at 2PM (CST), a panel of experts will be speaking about “Investing in Florida.”   This webinar will… more

The post Think Realty Webinar: Investing in Florida appeared first on Think Realty | A Real Estate of Mind.

Bill Tessar fell in love with lending early in his career. During his freshman year of college, he worked as an originator—and he hasn’t looked back since. “The whole ‘love… more

The post The CIVIC Difference appeared first on Think Realty

Bill Tessar fell in love with lending early in his career. During his freshman year of college, he worked as an originator—and he hasn’t looked back since. “The whole ‘love… more

The post The CIVIC Difference appeared first on Think Realty | A Real Estate of Mind.

It’s the question at the forefront of every real estate investor’s mind: When will the housing market stabilize? On any given week, you might answer that question very differently. Just… more

The post What Does the New Normal Look Like? appeared first on

It’s the question at the forefront of every real estate investor’s mind: When will the housing market stabilize? On any given week, you might answer that question very differently. Just… more

The post What Does the New Normal Look Like? appeared first on Think Realty | A Real Estate of Mind.

If you are a real estate investor, you are always looking for properties that look attractive with an even more attractive price tag. Let’s say that a family member has… more

The post 5 Important Facts About Quitclaim Deeds

If you are a real estate investor, you are always looking for properties that look attractive with an even more attractive price tag. Let’s say that a family member has… more

The post 5 Important Facts About Quitclaim Deeds for Real Property Transfers appeared first on Think Realty | A Real Estate of Mind.

You’ve decided on your first, third, or hundredth new investment property, and now the real work begins. Is the property turnkey ready for tenants? Does it need some cosmetic rehab, or maybe some more extensive work? Is it a ground-up construction project?

The answer to those questions will help you choose the most appropriate insurance policy for your property.

Before we dive into the details of each policy type, let’s review some general best practices for any investment property that

You’ve decided on your first, third, or hundredth new investment property, and now the real work begins. Is the property turnkey ready for tenants? Does it need some cosmetic rehab, or maybe some more extensive work? Is it a ground-up construction project?

The answer to those questions will help you choose the most appropriate insurance policy for your property.

Before we dive into the details of each policy type, let’s review some general best practices for any investment property that will undergo some form of rehab.

Total Completed Value

Selecting an appropriate coverage amount for the property plus any improvements is an excellent first step. The cost of materials, labor, and inflation can increase these amounts, so what you may have insured a property for two years ago may not be the same calculation today.

Your best practice will be to insure the property for Total Completed Value. A simple rule of thumb for valuation for insurance is selling price minus land value.

Insurance agents have many tools at their disposal to help you select the appropriate coverage amount. They can utilize building cost data based on the scope of the project and the geographic area to determine an estimated cost to rebuild. If you are using a lender to leverage your project, you will also need to adhere to their insurance requirements for the loan. They will often require your insurance policy to, at minimum, have a builder’s risk endorsement. They will also require the property coverage amount to be at least up to the loan amount unless a full replacement cost estimate is provided proving the need for a lower coverage amount.

General Liability

Many investment property insurance policies also include general liability insurance. Make sure yours does. We recommend a $1 million per occurrence coverage amount here.

When conducting any level of rehab, it is best practice for the property to be vacant. The use of licensed contractors and labor that secure the premises before, during, and after their work, including raw materials, ladders, etc. will help mitigate any theft or vandalism claims along with injury liability claims, including trespassers. If maintenance on the property needs to be done while tenants are occupying the property, the same best practices above apply. Be mindful and aware of potentially harmful fumes or airborne materials. It goes without saying, but please don’t fumigate the property with tenants inside.

Builder’s Risk Endorsement

Cosmetic rehab of a property typically includes painting, updating fixtures, or remodeling a bathroom or kitchen. An insurance policy for this project often looks like a rental property insurance policy with the addition of a builder’s risk endorsement.

An endorsement in insurance changes the base policy by adding, removing, or modifying the language in the policy. Specifically, a builder’s risk endorsement could add coverage for fixtures and machinery, equipment used in the course of updating the property, and building materials and supplies used for construction. This endorsement will often expire if construction is abandoned, 60-90 days after construction has been completed, or once the property has become occupied. Please note this doesn’t cause the entire policy to end, just the builder’s risk endorsement.

Course of Construction

When performing more extensive work on an existing structure, such as adding additional square footage or moving load-bearing walls, a more robust policy may be needed. These policies are often referred to as course of construction policies and can include many optional bells and whistles.

The basic coverages are the same as a builder’s risk endorsement, but often with higher limits of coverage and broader perils covered. There can be additional coverages that are included or are optional, such as materials in transit or at a temporary location, backup of sewers and drains, ordinance and law coverage, and debris removal. Certain soft costs can also be added to the policy from project delays, including architect fees, interest on construction loans, license or permit fees, and more.

Ground-up Construction

An insurance policy for ground-up construction is essentially a course of construction policy as outlined above, but with added underwriting guidelines and considerations. Again, selecting the most appropriate coverage amount is the first step. Remember selling price minus land value or ask your insurance agent.

In ground-up policies, you will want to be more diligent in your selection of additional coverages, especially having the option for a change order endorsement. A change order endorsement can increase your coverage amount, often in increments of 10%, if the scope of the project exceeds your original valuation. This endorsement can provide peace of mind if costs go up or the project timeline gets extended.

All the coverages, endorsements and exclusions touched upon above can vary greatly between different insurance carriers and markets. As with any insurance policy you purchase, it is important to understand the coverages included and the exclusions of your policy. Having an in-depth conversation with an experienced insurance agent about the scope of your project and asking as many questions as needed is critical to selecting the most appropriate insurance policy for your next investment property.

Sam Brust leads business and product development for Ross Diversified Insurance Services. RDIS has been serving the investor community for more than 35 years with insurance products ranging from single rehab properties to large portfolios of 500+ rental properties nationwide.

Brust attended CSULB for business administration and accounting. He then went on to build call centers for various unsecured debt and credit verticals before starting at Ross Diversified Insurance Services.

In its most recent Rental Housing Finance Survey, the census bureau counted 48.2 million individual rental units in the United States. With new apartment buildings going up seemingly every month, that’s stiff competition for your clients’ rental units.

Some real estate agents are going the extra mile to fill rental properties, including listing them on Airbnb for potential tenants to “test out” before signing the lease, or hosting local MeetUp affinity groups in shared community spaces.

In its most recent Rental Housing Finance Survey, the census bureau counted 48.2 million individual rental units in the United States. With new apartment buildings going up seemingly every month, that’s stiff competition for your clients’ rental units.

Some real estate agents are going the extra mile to fill rental properties, including listing them on Airbnb for potential tenants to “test out” before signing the lease, or hosting local MeetUp affinity groups in shared community spaces.

Rental properties have to stand out, not only with how they look and their amenities but also with how they’re described to pique the interest of potential tenants and provide them with adequate information about the home. It doesn’t take a professional copywriter to draft descriptions, although it’s great if you partner with one. You just need a touch of creativity to make the descriptions work for you.

Description Basics

Ultimately, potential tenants are looking for basic information about the rental unit upfront, without having to scroll through property details elsewhere, particularly if you’re placing the listing in the MLS or on Zillow or Trulia.

Your description should include the number of bedrooms and bathrooms, general neighborhood details, square footage, and rental cost. Don’t forget to mention when a tenant can move in. This information will answer all the basic questions someone might ask about the home and help screen tenants whose needs won’t be satisfied with the property.

A Little Bit of Spice

A basic description is designed to inform, but it won’t always catch someone’s eye. However, emphasizing a really great feature will.

To draw your reader in, use the best thing about the rental property as the introduction to the listing. For example, you might want to highlight something unique about the property that sets it apart from others in the area.

Point out that it has a two-car garage, that it’s newly remodeled, or it’s within walking distance to shops and dining. Put this feature in the very first sentence of your description, and then follow up with the basics. For example:

Fully remodeled family home! 1,200 square feet featuring 3 bedrooms and 2 bathrooms in Waldo, available June 1.

The Business Side

So far, our sample listing is missing some valuable information you should include before you post the property for rent. Ensure your description includes:

For listings online, independent of the MLS, such as on social media, there’s a bit of a debate as to whether an agent should include the full address of the property. Ultimately, it’s up to you. For some locations, cross streets provide adequate information to tempt potential tenants into touring. But for others, a specific address helps tenants determine whether the location will truly work for them.

Engaging and Easy to Read

Your potential tenants are relying on your property description to inform them of a housing option in their area. Although it may be tempting to be clever and add some pizzazz to the description, doing so creates clutter that hides the facts they’re looking for. Keep the description no more than six sentences long.

Although your property description should be as easy as possible to read, it can still be interesting. Vary the sentence length. Use descriptive phrases to help clients imagine the rental property. And never add details that could be misconstrued as a violation of Fair Housing Laws.

Let’s look at our sample listing again:

Fully remodeled family home! 1,200 square feet featuring 3 bedrooms and 2 bathrooms in Waldo, available June 1. $1,400/month with two-month deposit secures this pet-friendly ranch with easy-to-clean LVP flooring and landscaped backyard oasis at W. 79th and Brookside. Water and trash included. Call (816) 555-5555 to tour today.

A Professional Polish

Your listing comes across as perfectly professional when it’s free of errors, including typos and incorrect information. Ask a colleague to proofread each listing for you and consider using a spell checking tool.

Finally, when applicable, include clear photos of the property taken in daylight.

Why the Formula Works

Brevity and clarity work together in rental property listings because that’s the type of content people are accustomed to seeing online, thanks to the rise of social media.

Expect potential tenants to skim over every ad they read until they spot one that checks all their boxes. All the special extras and considerations will motivate them to pick up the phone to make an appointment for a tour and, if all goes well, a lease signing.

Gain Authority

With most of your tenant leads coming from the internet, you need a digital marketing firm on your side to keep your agency top-of-mind when people are looking to buy or rent properties. For this, snappy property descriptions won’t be enough.

Jenifer Calandra’s decade of marketing experience in a range of industries gives her a unique perspective on strategy. As a senior digital copywriter at iFocus Marketing, Calandra is a professional writer by trade, who crafts the story of your brand to positively affect your website’s search engine optimization and authority with your target audience.

When partnering with iFocus Marketing, you get an in-depth analysis on current and future marketing strategies and tactics, as well as a custom marketing plan built to make an impact and generate the return on investment you are looking for. With experience in the real estate industry, iFocus Marketing is prepared to help you reach your goals today.

Many real estate investors miss out on the tools available to help customize a rental loan and meet their investing objectives. Make sure you’re not one of them. The fundamentals… more

The post Designing the Best Rental Loan appeared first on Think

Many real estate investors miss out on the tools available to help customize a rental loan and meet their investing objectives. Make sure you’re not one of them. The fundamentals… more

The post Designing the Best Rental Loan appeared first on Think Realty | A Real Estate of Mind.

If you’re looking to move, you can look on the internet to research a new area you might be interested in, but that’s only the beginning of your investigative journey.… more

The post How to Choose the Best Real Estate Agent appeared first on

If you’re looking to move, you can look on the internet to research a new area you might be interested in, but that’s only the beginning of your investigative journey.… more

The post How to Choose the Best Real Estate Agent appeared first on Think Realty | A Real Estate of Mind.