Category: Monthly Meetings

Rain or shine our members always show up! We had another fantastic in-person networking meeting for the month of July. Former HV-REIA Member Siobhan Brosnan returned back to reconnect with us and shared her experience in property management with our members and how effective property management can help you escalate your business to the next level!

See below for quick recap of our July’s Meeting:

July meeting quick recap/highlights:

Mini-Workshop on DealCheck – Big shouts to Ulises Marmol for an excellent presentation)
Meeting was kick-off with a mini-work on Deal Analyzing with DealCheck. Ulises demonstrated how to run a cash-flow analysis with a property pulled directly from the live market! Due to the high level of interest, we will be organizing a few more of these workshops in the coming months. For those interested in leaning more about DealCheck, we’ve arranged a special referral link for HV-REIA members. You can use the link below to sign up and start optimizing your deal analyses:

Benefits of using DealCheck:
* Analyze up to 15 properties fast and easy for FREE. (Pro version starts at $10.00 – very affortable)
* Comprehensive Analysis Tools (tools helps you calculate cashflow, ROI, CAP Rates all automatically)
* Create PDF Export of your properties. Ideal for sharing it with business partners.

Sign up for DealCheck for FREE

Speaker of the Month: Siobhan Brosnan on Property Management
Siobhan Brosnan delivered an exceptional presentation, breaking down the responsibilities of a property manager. She highlighted how beneficial effective property management can be for investors and upkeeping of the property (the investment). Shiobhan has an intensive knowledge in property management, streamlining property management tasks and maximizing rental property performance.
Top 10 Highlights of Using a Property Manager for Your Rentals

• Efficient Tenant Screening: Ensures high-quality tenants.
• Rent Collection: Streamlined processes for timely payments.
• Property Maintenance: Regular upkeep to maintain property value.
• Legal Compliance: Staying updated with rental laws and regulations.
• Tenant Communication: Professional handling of tenant issues.
• Marketing Vacant Properties: Quick turnover with effective marketing.
• Handling Evictions: Professional management of difficult situations.
• Financial Reporting: Detailed reports for financial planning.
• Vendor Relationships: Access to trusted maintenance vendors.
• Time Savings: Allows investors to focus on growth and strategy.

If you like to contact Siobhan for a free consultation or like to know more about her services. She can be contacted at the information below.

Siobhan Brosnan
845-242-1400
sbrosnan15@gmail.com

Thank you to everyone who attended our July meeting and contributed to making this meeting a success. We look forward to seeing you at our upcoming in-person events.

Our June in-person meeting was a resounding success, featuring Rob Bowen, the Owner and President of Patriotic Insurance Group, as our guest speaker. Rob provided invaluable insights into the complexities of insurance for real estate investors.

Rob Bowen’s presentation was an eye-opener for many attendees, providing a deeper understanding of the nuances of property insurance. We thank Rob for sharing his expertise and helping our members make more informed decisions.

TIP: We have put together a property insurance checklist for members to use. Download it here https://hv-reia.com/product/property-insurance-checklist/

Key Takeaways from Rob Bowen’s Presentation:

• The Landscape on Insurance is changing: The landscape of the insurance industry is changing. It’s crucial to review your policies and fully understand your coverage. Don’t risk having a claim denied because you lack the proper protection for your assets.
  
• Choosing the Right Insurance: Rob emphasized that opting for the cheapest insurance policy is not always the best decision. It is important to consider proper coverage has been discussed.

• Skyrocketing Auto Insurance: Auto insurance rates have significantly increased, impacting overall insurance costs for property owners with vehicle assets. Try taking advantage of bundling your insurance policies for further savings.

• Private Flood Insurance: Exploring private flood insurance options can offer better coverage and pricing compared to federal programs. Rob highlighted the benefits and considerations of private policies. He encourages anyone needing more information to reach out directly to him; see our Business Directory for his contact.

• Elevation Certificates: Obtaining an elevation certificate can significantly impact flood insurance costs. Property owners should ensure they have accurate and up-to-date certificates to avoid overpaying for insurance.

• Sewage Backup Policy: Having a sewage backup policy is crucial for preventing costly damages and ensuring comprehensive coverage for unexpected incidents.

• Equipment Breakdown Policy: This policy is relatively low-cost but offers significant benefits. It covers repairs or replacements of essential equipment, protecting property owners from unexpected expenses.

• Vacant Land Liability: If you own vacant land, ensure you have a liability policy in place to protect against potential legal and financial risks.

• Renters Insurance Mandate: Including a mandate for renters’ insurance in your lease agreements can protect both the property owner and tenants. It ensures that tenants have adequate coverage for their personal belongings and liability.

• Loss of Rent Coverage: This coverage can safeguard your profit line by compensating for lost rental income due to covered incidents, ensuring financial stability during property repairs.

• AI and Roof Inspections: The use of AI in roof inspections is becoming more prevalent, offering more accurate and efficient assessments. Rob discussed how this technology impacts insurance claims and coverage.
  
• Earthquake Deductibles: Similar to hurricane deductibles, earthquake deductibles come with specific costs and conditions. Rob stressed the importance of understanding these to manage expenses effectively.
  
• Hurricane vs. Wind Deductibles: Understanding the difference between hurricane and wind deductibles is essential for property owners in hurricane-prone areas. This knowledge can help in making informed decisions about coverage and claims.

Stay tuned for our next meeting and more valuable insights from industry experts!

“Formal education will make you a living; self-education will make you a fortune.” — Jim Rohn

Former IBM’er and Connecticut resident turned into Real Estate investing to achieve financial freedom.

We will start the evening with a networking session
6:00PM to 7:15PM – Networking and Event Sponsors
7:30PM to 9:00PM – Robyn Thompson (Main Speaker)

After spending 9 years working a dead end corporate job, Robyn realized that her hard work and dedication for IBM was not going to provided financial independence.  She walked away from her secure paycheck and never looked back.

Over the past 20 years since Robyn left IBM, she has bought, renovated and sold 420+ homes with price ranges as low as $8,000 to as high as $4,000,000.  She has spent as much as $2,100,000 in labor and materials in one year to renovate properties with more than 22 contractors working full time to take the run down homes she bought and turn them into little castles at lightening speed. Robyn has also acquired a very large portfolio of gorgeous homes through seller financing that she rents out to high end tenants that are producing massive passive wealth.

Robyn has shared her knowledge with thousands of students across our nation and has agreed to come to Poughkeepsie to explain her perfected system and how it will work for you. This is not a “blue sky” program but a reality and each and every one of you can place as she does Cash In The Bank.  

She will instruct you on:  

1. Her Buying Machine                                                                 
2. Where to Find Properties to Rehab for profit                           
3. 10 Criteria to Ensure High Profit Deals                
4. The Rehab Process                                                                                             
5. Locating the Best Contractors to Get the Job Done                
6. Pre-screening Contractors
7. 9 Types of Houses to Never buy                                                                     
8. 4 Strategies to Funding Deals when You Have No Money
9. Maximum Allowable Offer formula                       

As you can see this will be a knowledge packed evening full of excitement and education. Make a list of your questions and have them ready for her at her table following the end of the session. Robyn will remain near her table answering all questions possible for each and every one.

Cost: FREE to HV-REIA Members \ Non-members $25.00

New members sign-up here:
Yearly – https://hv-reia.com/new-member-sign-up/
Monthly – https://hv-reia.com/monthly-membership/