Jeremy Goodrich is a former school teacher turned insurance advisor, entrepreneur, podcast host, and real estate investor. His life has been marked by a common theme of teaching and serving others, and for the last eight years he has utilized those skills by simplifying the insurance process for first time home buyers and real estate investors. We speak with him on his experience of building a business from the ground up and how his family was able to take safe risks to reach their goals of financial stability. Jeremy knows what it’s like to live in a scarcity mindset, so he’s passionate about sharing tips for building wealth, both financially and mentally.
We also discuss the importance of having a high quality insurance contract in place for any commercial real estate transactions. Jeremy estimates that 80% of real estate investors have the wrong policies, and part of his job is to audit their contracts to find any missing holes. There are a few factors that should always be considered, and having a strong relationship with the agent is always helpful in getting there. Jeremy’s insight will offer clarity to anyone that is uninformed or uncertain about their insurance policies, and more information can be discovered on both his podcast and YouTube channel.
Key Insights
- The importance of quality insurance in commercial real estate
- Surviving in a scarcity mentality versus thriving in an abundance mentality
- What every investor should look for in their insurance contract, and the reasoning behind not always opting for the cheapest option
- Who is at fault in cases of liability, such as the condominium collapse in Miami, and how to ensure you are protected in the worst case scenario
- Balancing risk and stability to build a successful business
- Understanding how and why Real Estate is a key component of wealth management, and an important part of building a strong, diversified portfolio
Guest Bio:
Jeremy Goodrich is a commercial real estate insurance advisor and the Co-Founder of Shine Insurance Agency. He was previously an elementary school teacher, helping countless kids fall in love with art, math, science, and writing. After 13 years of teaching, Jeremy decided it was time to change the way people feel about insurance, so he carried the heart of an educator over and has been making insurance simple for first time home buyers and real estate investors ever since. Jeremy is also the host of a Multifamily real estate podcast, REI Clarity, and the host of Youtube’s #1 most watched independent insurance agency channel.
Resources:
Shine Insurance YouTube Channel