Note investing insurance can present some murky waters for a new - and experienced - investor to wade through. That's why we're talking with one of our favorite insurance service providers on this week's show. We've also had a ton of requests for this topic with all the hurricanes, storms and natural disaster happening in many states that we all invest in. Note Investing Insurance Mel Babtkis from Ross Diversified, joins us on today's show to talk all about the note investing insurance you need for your business. One of the major reasons I like the guys over at RDIS, is because they are note investors too. They understand the issue we encounter in the business, and helps us get the right coverage for numerous different scenarios.  Some of the items Mel touches base on are force placed insurance, CFPB compliance, how to make sure you're protected on an asset by playing FBI agent, and so much more. On the topic of force placed insurance, he covers all the CFPB lets for staying in compliance. This has led to an interesting conversation in our office. We've been talking about the systems we have in place to make sure those letters go out, not only in a timely fashion, but at all. We've, since the recording, had a conversation with the guys over at RDIS - specifically Mel's brother Ed - and they said they'd be willing to give us the boiler plate letters to send out to the borrowers; as well as, giving us the exact timelines for when those letters need to go out. We'll be including those letters in the doc section of our upcoming training. How Much Insurance Do I Need Another main competent to understand regarding your insurance coverage is, how much do I need? This was a question it took me a few deals to get right, and Mel gives a solid breakdown during the show. Insurance is always tied to the value of the structure. When it comes to insurance a 1,000 square foot home, at $10 a square foot. So, you've got an asset with a value of $100,000. Let's say the note is going to cost you $50,000 to acquire. So, how much can you insure? The $100,000 value of the home or your $50,000 stake in the home? Well, the answer is both! You can invest up to $100,000 because that is what the home is worth. However, you might be in a position where you don't want the increased premiums, and you're only interested in insuring your interest in the property at $50,000. Both are options you have when choosing how to insure the asset. Mel goes on into more detail around minute 16 of the show! Definitely spend some time understanding this aspect of the business. That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com. Listen & Watch this Week’s Show to Learn: How Much Insurance Do I Need On This Asset How To Stay CFPB Compliant With Regards To Insuring Your Assets What To Do And What You Can Do If You Have Assets In Places Like Florida With 'Named' Storms And much more! Featured on the Show: Due Diligence Pro Ross Diversified Insurance Services Listening Options: Subscribe via iTunes. Listen on Stitcher Radio. Right-click and “save file as” for direct download. Or click here to get sent to the top of the page where the on-site player is.   Thanks for listening to our show! We’ll be back next Wednesday morning. Cheers, Chase & Robby