Insider Secrets 46 with Brian Mitchell

<p><strong>Standout Quotes:</strong></p> <p>"You have to sit down and ask yourself, what am I good at? What am I passionate about?" - [Mike]</p> <p>"Siding with somebody that has experience in your field is crucial to building your team" - [Brian]</p> <p>"Every good investor knows their numbers" - [Mike]</p> <p>"Any market's going to provide opportunities... so get out there, meet people, and Network" - [Brian]</p> <p>"Try to surround yourself with experts, people that are smarter than you in various areas that can really get you to the next level, create a well-rounded team" - [Brian]</p> <p><strong>Key Takeaways:</strong></p> <p>- Brian describes himself as 'Determined' as it is a key attribute to have in Real Estate, one he applies in his day-to-day life.</p> <p>- The great thing about insurance is that you're transferring risk, and you often can't transfer risk in a lot of other investments.</p> <p>- Brian shares that Real Estate investing, especially multi-family has many aspects to it and is quite a secure form of investment.</p> <p>- Interviewing Insurance agents: How long has the insurance agent been in the business? What are the coverages you should look for as a landlord? It is necessary to do some personal research so you can evaluate the kind of answers you're getting.</p> <p>- Coverages that a property owner should have include Property Coverage, Liability Coverage, and Loss of Rental Coverage.</p> <p>- There have been no claims being paid for loss of income due to Covid19, as it is not a covered cause of loss spelled out in the policy, and hence is not a viable claim.</p> <p>- Brian recommends that investors meet a trusted agent to get an estimate for insurance costs on their property.</p> <p>- The 3 elements of Coverage to a Renters' Policy: Liability, Loss of Use Coverage, and the coverage by the renters for their property.</p> <p>- Brian's view on making high stakes decisions: It's a gut decision based on experience. Know your numbers, know your area the more, and the more you can trust your gut