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006 - Escalation Clauses, Multiple Offers, & 3 Must-Knows About Insurance in 2024
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In this episode of the Midwest Invest Report, Kyle discusses escalation clauses in real estate, the importance of understanding insurance, the difference between captive and independent insurance, and the concept of self-insuring versus low deductible insurance. He also ends the episode with a journal prompt about identifying one's unique-ability.
Takeaways:
Escalation clauses can be a useful tool in competitive real estate markets to make competitive offers on properties.
Insurance costs have been increasing due to rising costs in other industries, such as labor and materials.
Captive insurance companies only sell their own products, while independent insurance brokers can quote multiple carriers for the best price and coverage.
Consider self-insuring and raising deductibles to lower insurance premiums, especially if you have a financial safety net.
Reflect on your unique ability and how it can be leveraged in your personal and professional life.
Chapters
00:00
Introduction and Market Minute
02:14
Escalation Clauses in Real Estate
05:01
Understanding Insurance
09:45
Captive Insurance vs Independent Insurance
12:40
Self-Insuring vs Low Deductible Insurance
13:35
Journal Prompt: What is My Unique Ability?
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