Our Renter's Policy at BIG Insurance 🏠 We provide tenants with affordable contents and general liability coverage, featuring several key benefits. This includes protection for direct physical damage to personal property and tenant liability, with $3,000 for Additional Living Expenses, $1,000 for damage to others' property, and $3,000 in Medical Payments. The policy offers worldwide coverage for personal property and limited coverage for others' property at the residence. Tenants can manage their policy 24/7 via an online portal, handle payments monthly by credit/debit card, check, or ACH, and benefit from a $500 deductible. Coverage is available in almost every state, but may not include theft, vandalism, or malicious mischief if the residence has been vacant for 60 or more consecutive days. Give us a call today! 📞 205.682.8856 . . . #birminghamalabama #biginsurancegrup #biginsurance #alabamainsurance #alabamapropertyinsurance #alabamarealestate #propertyinsurance #propertymanagement #insurance #insurancecoverage #nationwidecoverage #localinsurance #homeownersinsurance #commercialinsurance #riskmanagement #businesscoverage #propertyprotection #insuranceagency #realestateinsurance #protectyourassets #secureyourinvestment #coverageoptions
About us
BIG Insurance is a full-service property and casualty insurance agency laser-focused on risk management solutions in the SFR (single-family residential) and MFR (multi-family residential) space! Our Master Policy Program is available in all 50 states and was designed by investors, for investors. It provides tailored coverage and competitive premiums specifically for Real Estate: · Investors · Owners · Tenants · Property Managers 205.682.8856 | mk@biginsurance.us
- Website
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https://biginsurance.us/
External link for BIG Insurance Group
- Industry
- Insurance
- Company size
- 2-10 employees
- Headquarters
- Birmingham, Alabama
- Type
- Privately Held
- Founded
- 2018
- Specialties
- real estate, sfr, real estate investing, risk management, mfr, and insurance
Locations
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Primary
Birmingham, Alabama 35222, US
Employees at BIG Insurance Group
Updates
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Many new investors are drawn to residential real estate because it feels familiar, but commercial real estate can offer distinct advantages. My perspective shifted during a cross-country RV trip, where I saw the profitability of RV parks and decided to invest in one. Commercial real estate has key benefits: focusing on one large property allows for quicker growth compared to managing multiple small homes. It also enables faster scaling, as acquiring a large number of units at once is more efficient. Unlike residential properties, commercial values are driven by income, offering better control over property value. Commercial real estate loans are based on the property’s income, not personal finances, making them more accessible. There’s also less competition in sectors like RV parks and self-storage, making it easier to find and invest in properties. Overall, commercial real estate can be a more advantageous option for new investors due to better financing, less competition, and greater value control. The full article is available here 🔗 https://lnkd.in/gMvQKGgE . . . #birminghamalabama #biginsurancegrup #biginsurance #alabamainsurance #alabamapropertyinsurance #alabamarealestate #propertyinsurance #propertymanagement #insurance #insurancecoverage #nationwidecoverage #localinsurance #homeownersinsurance #commercialinsurance #riskmanagement #businesscoverage #propertyprotection #insuranceagency #realestateinsurance #protectyourassets #secureyourinvestment #coverageoptions
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Only 10% of U.S. homes are equipped for aging in place, and one-third of people foresee needing home modifications, which can cost $10,000 to $100,000. Riaz Taplin of Riaz Capital shifted from luxury home flipping to developing affordable workforce housing in San Francisco, growing his portfolio to 3,600 units with more in development. Despite setbacks from the pandemic and local government issues, Taplin remains positive about urban housing's future. In New York City, the reopened Section 8 program saw overwhelming demand, highlighting the urgent need for affordable housing. The federal government is addressing this with $30 billion for the Housing Choice Voucher Program, helping over 2.3 million families. Investors can benefit from affordable housing projects, especially workforce housing, which meets growing demand while remaining profitable. Read the full article here 🔗 https://lnkd.in/gj3PxxV5 . . . #birminghamalabama #biginsurancegrup #biginsurance #alabamainsurance #alabamapropertyinsurance #alabamarealestate #propertyinsurance #propertymanagement #insurance #insurancecoverage #nationwidecoverage #localinsurance #homeownersinsurance #commercialinsurance #riskmanagement #businesscoverage #propertyprotection #insuranceagency #realestateinsurance #protectyourassets #secureyourinvestment #coverageoptions
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Mortgage rates fell last week amid anticipation of a Federal Reserve rate cut and signs of a weakening economy. The 30-year conforming rate averaged 6.66%, down 11 basis points from the previous week, while the 15-year rate dropped to 6.11% 📉 The Consumer Price Index showed inflation slowing to 2.9% in July, and job growth was below expectations. This decline in mortgage rates has led to a 16% increase in loan applications, with refinances up 35% weekly and 118% year-over-year. Expectations for a Fed rate cut have shifted, with a 25-bps cut now more anticipated than a 50-bps cut. However, an emergency rate cut is not expected. In California, high rates and prices have made housing less affordable, with only 14% of buyers able to afford the median home price of $906,600. Conversely, Realtor.com forecasts improved home sales and a lower year-end mortgage rate of 6.3% for 2024, as easing rates boost buyer purchasing power. Read the full article here 🔗 https://lnkd.in/gzwwmV5m . . . #birminghamalabama #biginsurancegrup #biginsurance #alabamainsurance #alabamapropertyinsurance #alabamarealestate #propertyinsurance #propertymanagement #insurance #insurancecoverage #nationwidecoverage #localinsurance #homeownersinsurance #commercialinsurance #riskmanagement #businesscoverage #propertyprotection #insuranceagency #realestateinsurance #protectyourassets #secureyourinvestment #coverageoptions
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As of August 17, significant changes have reshaped the U.S. real estate market, impacting home prices and commissions 🏦 Agents can no longer use MLS databases to offer commissions to buyers' agents, shifting negotiation power to buyers and sellers. Sellers now decide whether to cover commissions for all realtors involved, typically 5% to 6% of the sale price. Buyers must negotiate their agent's fees separately and formalize this agreement before viewing properties. These updates, resulting from a class-action lawsuit and a $418 million settlement with the National Association of Realtors, aim to reduce conflicts of interest and enhance transparency. The changes could lead to lower commissions and home prices by adopting a more flexible, à la carte system. Buyers and sellers should now negotiate and clarify commission terms directly with their agents, who must disclose that their fees are negotiable. Read the full article here 🔗 https://lnkd.in/gdwDnEg2 . . . #birminghamalabama #biginsurancegrup #biginsurance #alabamainsurance #alabamapropertyinsurance #alabamarealestate #propertyinsurance #propertymanagement #insurance #insurancecoverage #nationwidecoverage #localinsurance #homeownersinsurance #commercialinsurance #riskmanagement #businesscoverage #propertyprotection #insuranceagency #realestateinsurance #protectyourassets #secureyourinvestment #coverageoptions
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Recent changes by the National Association of Realtors (NAR) are set to impact real estate investors positively. NAR now requires clearer commission breakdowns, allowing for better negotiation and options like self-representation or hiring a Transaction Broker for a flat fee. Commission structures have shifted, with both buyers and sellers negotiating fees upfront, which increases your leverage to secure lower rates, especially as a repeat client. Additionally, buyers must sign a Buyers Agency Agreement before touring properties, though alternatives like the Touring Agreement can ease initial commitments. These changes are expected to lower costs, enhance agent accountability, and boost negotiation power, potentially increasing deal volume. Read the full article here 🔗 https://lnkd.in/gJDFeazY . . . #birminghamalabama #biginsurancegrup #biginsurance #alabamainsurance #alabamapropertyinsurance #alabamarealestate #propertyinsurance #propertymanagement #insurance #insurancecoverage #nationwidecoverage #localinsurance #homeownersinsurance #commercialinsurance #riskmanagement #businesscoverage #propertyprotection #insuranceagency #realestateinsurance #protectyourassets #secureyourinvestment #coverageoptions
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Starter home prices have surged above $1 million in over 100 U.S. cities, according to Zillow, highlighting ongoing affordability issues. Despite the national average for a starter home being $196,611, these prices have risen 54.1% over the past five years, outpacing the general housing market increase of 49.1%. States like California, New York, and Florida have notable concentrations of these high-priced starter homes. This price surge, coupled with high mortgage rates and low inventory, is pushing homeownership further out of reach for many, with the median age of first-time buyers now at 35. Though recent declines in mortgage rates—falling to 6.47% from 6.73%—offer some relief, the Federal Reserve's interest rate hikes have significantly impacted housing affordability. Increased construction and potential rate cuts may help, but adding more housing supply is crucial for long-term relief. The full article is available here 🔗 https://lnkd.in/ewX7cyj9 . . . #birminghamalabama #biginsurancegrup #biginsurance #alabamainsurance #alabamapropertyinsurance #alabamarealestate #propertyinsurance #propertymanagement #insurance #insurancecoverage #nationwidecoverage #localinsurance #homeownersinsurance #commercialinsurance #riskmanagement #businesscoverage #propertyprotection #insuranceagency #realestateinsurance #protectyourassets #secureyourinvestment #coverageoptions
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Driving for dollars can be highly effective in 2024 with a dedicated team. Instead of going solo, recruit motivated locals like mail carriers or delivery drivers who are already familiar with the area. Offer incentives and use technology like DealMachine for property research. Train your team to spot distressed properties and gather key details using apps. Compensation can be per lead or per deal, but clear contracts and communication are essential to build trust. With a well-trained team and effective management, you can find valuable off-market deals more efficiently. Expand geographically to increase your chances of success. Read the full story here 🔗 https://lnkd.in/g25JTWHS . . . #birminghamalabama #biginsurancegrup #biginsurance #alabamainsurance #alabamapropertyinsurance #alabamarealestate #propertyinsurance #propertymanagement #insurance #insurancecoverage #nationwidecoverage #localinsurance #homeownersinsurance #commercialinsurance #riskmanagement #businesscoverage #propertyprotection #insuranceagency #realestateinsurance #protectyourassets #secureyourinvestment #coverageoptions
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What the Latest NAR Changes Mean for Real Estate Investors The recent changes at the National Association of Realtors (NAR) are crucial for real estate investors, offering increased commission transparency and legal shifts that impact how agents are compensated. Investors will now have clearer insight into commission structures, allowing for better negotiation and potentially lower transaction costs. These changes also open up the possibility for investors to represent themselves or hire a Transaction Broker for a flat fee, providing more flexibility in managing deals. NAR's legal challenges have led to significant alterations in commission agreements, with both buyers and sellers now needing to negotiate agent fees upfront. This shift empowers investors, especially repeat clients, to negotiate more favorable commission rates. Additionally, the requirement for buyers to sign a Buyer’s Agency Agreement before touring properties introduces more paperwork but ensures clearer compensation agreements from the start. Overall, these NAR changes are poised to benefit investors by increasing transparency, reducing overall commission costs, and enhancing the value provided by agents. While more paperwork may be required, the ability to negotiate commissions and opt for alternative representation methods will likely lead to more profitable and efficient transactions. Thank you for the insightful article, Duratus Properties! https://lnkd.in/gJDFeazY
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As interest rates fall, investors are eyeing commercial real estate, which has faced challenges recently. Aging office buildings, available at deep discounts, might offer future gains as leasing recovers and can be repurposed into apartments or data centers. Rental apartments could also be attractive due to potential discounts from high debt and maintenance issues, though they come with risks. Medical office buildings are a stable investment, offering predictable cash flow through long-term leases. For lower-barrier options, flex warehouses meet high business demand, parking lots provide steady income with low maintenance, and self-storage facilities address the need for extra space due to housing affordability issues. Senior living facilities are growing in demand as the population ages, and cell phone towers offer a stable, passive income as coverage expands. Overall, lower interest rates create significant buying opportunities in high-demand commercial real estate sectors. Read the full article here 🔗 https://lnkd.in/dKdgiFtr . . . #birminghamalabama #biginsurance #alabamainsurance #alabamapropertyinsurance #alabamarealestate #propertyinsurance #propertymanagement #insurance #insurancecoverage #nationwidecoverage #localinsurance #homeownersinsurance #commercialinsurance #riskmanagement #businesscoverage #propertyprotection #insuranceagency #realestateinsurance #protectyourassets #secureyourinvestment #coverageoptions
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