Oct 3, 2022

Bryan Shimeall is the Vice President based out of Orlando, FL.  After graduating from Auburn University, Bryan worked in IT Sales, then later moved to Florida and started a successful real estate development company. Since 2009, Bryan has worked as a producer in the insurance industry managing clients in the real estate, construction, hospitality, and non-profit sectors. Bryan will be involved with the development and servicing of new risk management and insurance clients for the firm. We are very excited to have Bryan on board!

In this episode, Bryan discusses how to succeed in the multifamily industry during difficult times. He explains that it’s important to diversify into insurance, as rates are increasing and the market is difficult. He discusses how climate change is impacting rates for multifamily properties and recommends maintaining good information on your properties, walking them regularly, and avoiding deferred maintenance. To know more about carrier biases and social inflation in the multifamily industry, listeners are invited to visit https://tbmins.com/!

[00:01 - 06:17] Opening Segment

• Bryan has over 10 years of experience in the multi-family insurance industry

• He is currently ensuring over 400, 000 units nationwide and is involved with multi-family syndicators

• He shares his experience as a builder and developer during the 2008 real estate market crash

• It led him to enter the real estate insurance industry

• He discusses how overpaying for insurance can lead to financial hardship  

[06:18 - 24:12] Seek Advice With An Professional Who Understands The Real Estate Industry

• Bryan discusses how the industry changed after the 2008 recession
• • How that led to increased insurance claims and rates
• He recommends working with an insurance agent who understands multifamily property insurance
• • Who can help you make smart decisions about your coverage
• He talks about the number of lawsuits and the size of the lawsuits in the real estate industry are on the rise, and this is due to social inflation
• • Social inflation is caused by a number of factors, including the way that the internet and social media have changed how people communicate
• He discusses how the real estate industry needs to reform in order to control insurance costs

[24:13 - 28:46] Closing Segment

• Bryan advises listeners to connect with other investors on the website to discuss strategies and share tips, https://tbmins.com/!
• Bryan shares where you can get in contact with him (links below)

Quote/s:

“You really need somebody that really understands all aspects of the multifamily insurance and all aspects of the industry itself.” – Bryan Shimeall

You can connect with Bryan through his:
Website: https://tbmins.com/

LinkedIn: Bryan Shimeall

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Or send me an email at sujata@luxe-cap.com

Visit my website www.luxe-cap.com or my YouTube channel

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