Maximize Your Earnings: How to Effectively Monetize Insurance Today

Brett McCollum (00:00.674)
All right, guys, welcome back to the show. I am your host, Brett McCollum, and I’m here today with Peter Silvester. And today we’re going to be talking about monetizing insurance. Before we do, at Investor Fuel, we help real estate investors, service providers, and real estate entrepreneurs to 2 to 5x their businesses to allow them to build the businesses they’ve always wanted and live the lives they’ve always dreamed of. Without further ado, Peter, how are you?

Peter Silvester (00:24.778)
Great, great to see you Brett. Wonderful day.

Brett McCollum (00:26.582)
You too, Yeah, thanks for catching up with me pre-show, getting to know you a little bit. I’m genuinely excited. This is going to be a very interesting show for us today. it’s a topic that I, and I told you full transparency, I don’t seem to know a lot about. So I am selfishly interested to learn more and get to know this subject matter more. But before we get after it and get into all the things, Peter can do us a favor, walk us back a little bit, give us some context and history. Who is Peter Sylvester?

Peter Silvester (00:53.422)
So once upon a time I was in the graphics business went out to Hollywood as a young guy and Was in the printing business and and everything went to computers at some point Got into graphic design did a lot of work for all the advertising agencies that are familiar to household names Did a lot of work for big companies like Apple and all the movie posters and videos and things not the videos but the

advertising for movies and advertising for big name brands like Apple, like the car brands. So that was fun for a long time until I realized well you know I’m not that happy about working inside you know and it’s really not going to…

bring in a lot of money, right? So I ventured out, which is hard for a nine to five person to do, I ventured out into becoming a real estate agent. And then from there, I really learned a lot about different types of assets. I wasn’t happy with just the homes. I went in to learn about commercial properties and creative financing and creative ways to selling. One big project was

short selling a bunch of homes near USC that were making a ton of money and yet it was possible to short sell them and have the inspectors come out and call them dumpy houses, right? So each one was sold in like the 200, $300,000 range when really they were worth more like a million each.

Brett McCollum (02:18.754)
Yeah.

Brett McCollum (02:29.105)
wow, yeah.

Brett McCollum (02:37.088)
Wow.

Peter Silvester (02:38.81)
And so that was pretty cool and creative to do that. And for the buyer to hire the seller as a consultant to make sure that she had cash, because with a short sale you’re not supposed to get any money. So she was able to walk away with a good amount of cash being hired as a consultant.

Brett McCollum (02:53.749)
Right.

Peter Silvester (03:00.59)
So that was kind of fun. And then from there, well, exited Communist California and came to Texas, you know, where everything’s been great ever since. Lovely people and lovely progressive as far as business, you know.

Brett McCollum (03:16.842)
Right.

Peter Silvester (03:18.35)
Greg Abbott has brought in so much business in New Texas. It’s really exciting times and it’s still growing and booming So there’s a lot of building and development and then one day I met this guy who sells insurance and He told me about this product and my gosh, you got to come to my real estate meetings so from there I joined his team because this is what every operator needs is a good amount of

Brett McCollum (03:23.618)
Mm-hmm.

Peter Silvester (03:48.396)
extra income coming in which boosts the revenue of course and this actually boosts occupancy by the way it’s sold

And of course it increases the value of each property or of the whole portfolio. So that’s what I’m here to talk about today because this is really helping out property owners across the country when sometimes the economy is not so kind to property owners. With reduced rents and reduced occupancy, can mean losing a property, especially if they have some strange

Brett McCollum (04:02.593)
Yeah.

Brett McCollum (04:07.756)
Yeah.

Peter Silvester (04:28.022)
loans going on. So this could be a matter of make or break adding these insurance policies that the tenants already need and they’re enjoying these products because it’s sold to them at a lesser cost than they would have to pay if found outside somewhere else. These are just funneled through the property managers and these actually give a high level quality to the

Brett McCollum (04:29.418)
Yeah.

Peter Silvester (04:57.872)
lives of the tenets.

Brett McCollum (04:59.466)
Right. Yeah, and I’m excited because that’s what I’m going to ask. I’m going to have so many questions to ask you about that when we get there. Let’s back up a little bit, though. So you started off, you went into graphics, you said. Is that correct? So what kind of graphics was it that you were doing?

Peter Silvester (05:11.712)
I did. Yeah.

Well, anything that is printed, so…

any kind of billboards that you’ve seen like when Apple came out with iPods and things they were very cool graphic designs that went across the world so I worked on those and those are very simple graphics but a lot of movie posters and putting together images to create a collage of things and changing them from RGB space to CMYK space in order to print properly gets kind of highly technical

Brett McCollum (05:23.136)
Okay.

Brett McCollum (05:37.814)
Very cool.

Peter Silvester (05:50.256)
and I was really great at retouching for the car ads and the people. that was pretty fun, know, it’s rewarding in a way, but there’s nothing more rewarding than getting out and about and connecting people with other people to make deals happen and providing large amounts of money flowing into their lives, just enriching everyone’s lives.

Brett McCollum (05:53.292)
Yeah.

Brett McCollum (06:09.942)
Yeah.

Brett McCollum (06:16.706)
Do you still enjoy any, like, is that an enjoyable thing for you to do still? Maybe even in like spare time or do you not really mess with graphics that much these days or?

Peter Silvester (06:27.414)
not as much. I am hired on occasion by a very famous clothing designer, James Perth. So occasionally I do work on their projects.

Brett McCollum (06:35.596)
Mm-hmm.

Brett McCollum (06:40.044)
I imagine, and the reason I’m asking, is I imagine that at a minimum scratches that creative itch, right? Being able to function creatively in a way. I’m a musician and…

Peter Silvester (06:47.362)
Yes.

Brett McCollum (06:54.22)
you know, we’re working professionally in our respective, you know, businesses. And so sometimes like, you know, when you do get that opportunity to play music or you do get that opportunity to do design work and stuff like this, that’s that creative side of us that we don’t, I don’t know about you, but I don’t get to use as much. So I’m like thinking in my head, I bet you being able to do it, at least some, it gives that like, I get to satisfy that creative side that I love, you know.

Peter Silvester (07:20.706)
That is one. And then there’s another business I have, which is a wellness business, met at SpaUSA.com. And why I got into that is because we’re getting killed all the time by big pharma, the food industry. So that led my wife and I to open up a healing business and really educate the public on alternative ways to stay healthy.

Brett McCollum (07:25.132)
Mm-hmm

Brett McCollum (07:45.644)
Yeah.

Peter Silvester (07:46.506)
all the way to the most premium product of all, which is stem cell therapy. But we could talk about that another day. All right. Today, I just want to provide really valuable insurance products that the owners of these properties don’t even buy. It’s actually passed on to the tenants and the tenants enjoy them because they’re provided at such a discounted rate with such a high value to them.

Brett McCollum (07:51.318)
Yeah.

Brett McCollum (08:14.914)
Yeah, well, and Peter, I think we would be at least remiss that at the end, let’s bring up some of that here to be able to, if people did hear that from you and go, like, I still want to learn more about that, okay? Like, we’ll be remiss in not at least do, okay? So you did the graphics thing. How long were you in that industry? Like, before you kind of started into the real estate space?

Peter Silvester (08:15.744)
while protecting the property.

Peter Silvester (08:26.872)
Sure.

Peter Silvester (08:35.502)
Oh my gosh, I was in that for 20 plus years.

Brett McCollum (08:39.776)
Yeah, yeah, yeah, I was thinking that too. was like, it’s probably, you probably had a healthy career there. So you get into real estate after 20 plus years, you’re enjoying more of the wholesale side of things that sounded like those opportunities. You said something that I would love, the owner, you turned them into a consultant, is that how that worked?

Peter Silvester (09:03.31)
I turn the owners of the buildings, you’re talking about the owner, they become like an insurance company without having to jump through the hoops of becoming an insurance company. By putting them in what we call a captive, we could actually share underwriting profits with them. And they have, because they own shares in the captive basically. It’s their captive, so they own 100 % of the

Brett McCollum (09:28.706)
Right.

Peter Silvester (09:33.384)
they’re captive and they can with with a thousand five hundred doors or more they could actually receive ninety percent of the profits from the underwriting.

Brett McCollum (09:43.203)
Oh man. Yeah, and I apologize. I probably could have said it a little better on the short sale side. And I think that’s really, by the way, I now that you said it like that, I kind of get where you’re going with the insurance, but on the short sale business back when you were doing that, you mentioned that because you’re right, the owner of those properties that was being short sale are technically not supposed to receive profit from the sale. But you’d mentioned something about them turning into a consultant. Did I catch that correctly?

Peter Silvester (09:54.156)
Okay. yes.

Peter Silvester (10:06.581)
Right,

Peter Silvester (10:11.074)
That’s right. So that becomes a transaction outside of escrow where the buyer hired the seller as a consultant with a one-time fee of $100,000.

Brett McCollum (10:23.554)
okay. Yeah, because that’s another creative thing that I don’t think I’ve heard people do.

Peter Silvester (10:30.858)
No, you have to call it that. It’s legitimate because the buyer could ask questions of like, how is each house run? How do you operate? Any number of questions. And the answers become like a consultant. And you need a…

Brett McCollum (10:51.778)
And you because it’s a consultant, you can name the fee is as you want. Yeah, that’s incredible. And that’s giving value back to the seller. In that situation. That’s incredible. Very cool. Very cool. Yeah, we probably could deep dive that and have a whole show about that. Right? That’s interesting. So all right. So you ran that how long were you doing the short sale thing for before you landed in the insurance product space?

Peter Silvester (10:54.968)
That’s right.

Peter Silvester (11:16.494)
Well, I’ve been in real estate now since 2010, so a good while, 14, 15, yeah, 15 years now. So, I was working in the commercial real estate space. So when deals came up like that that were creative, then I figured out a solution for them.

Brett McCollum (11:21.174)
Yeah, 25 years.

Brett McCollum (11:38.209)
Yep.

Yeah, I love that. Yeah. All right. Here. I wanted to kind of I love that you understand the actual because as a real estate investing podcast, knowing that you have that background in that context, in that history of being in the real estate space, you know, lends a lot to the credibility of what you’re talking about, right? Because you get you get me you get us you understand our world what we do because you’ve been there and done it. You know.

Peter Silvester (12:07.894)
Right. In addition, when my wife and I came to Texas, we joined a syndication group and we bought 64 units in the San Antonio market.

Brett McCollum (12:17.847)
wow.

Yeah, I mean, you’re actively doing it too. And I think that’s what makes this what we’re talking getting ready to talk about so specialist the fact that you practice what you preach, you know, and I think that’s really cool. Alright, so it let’s do this at best we can because I we talked about this pre show I’m very ignorant on the subject matter of what you’re going to talk about. So let’s try it. For me for my

Peter Silvester (12:31.682)
That’s right.

Brett McCollum (12:48.658)
smaller brain if you will here. Let’s break it down, simplify. Alright, you jump into the insurance thing and this product itself, if you can, kinda tell us what you call it and then step by step break it down what it is.

Peter Silvester (13:03.778)
Okay, there’s a number of components. I’ll go through each one. The first that really increases the occupancy is security deposit insurance. Especially during…

Brett McCollum (13:07.682)
Sure.

Brett McCollum (13:14.954)
security deposit insurance. Okay.

Peter Silvester (13:16.738)
Yes, during hard times, when people have a difficult time coming up with another $1,500, $2,000, whatever it is, dollars to move in for security deposit insurance, instead you offer them an opportunity to buy this insurance product. In this case, it’s an offering, right? You can’t demand it, but you can offer it. So you either collect your security deposit

Brett McCollum (13:35.788)
Mm-hmm.

Peter Silvester (13:46.624)
Deposit or you collect the insurance for it and the insurance covers the value of the security deposit so when people when operators are lowering Their security deposit just to get people in the door that becomes kind of dangerous because they’re leaving Themselves at risk so if they’re taking $300 well People are more than happy to walk away with that right?

Brett McCollum (13:50.422)
Right.

Brett McCollum (14:08.94)
Sure.

Peter Silvester (14:16.528)
What if you say, okay well I want to…

Brett McCollum (14:16.843)
Right.

Peter Silvester (14:21.71)
I want to say it should be 1,500. Then you can say, well, you can pay $33 a month instead. I’m just giving you example. It varies. It could be $28. It depends on the value of this credit deposit. And they’re going to say yes every time because people don’t really want to give up that big chunk of money because they know it might be hard to get when they move out. And they don’t know how long they’re going to live there. But most people are going to be

Brett McCollum (14:32.224)
Right.

Brett McCollum (14:44.929)
Right.

Peter Silvester (14:51.724)
there for let’s say a year or two years well it takes like three and a half years to equal the amount of the security deposit.

Brett McCollum (15:02.666)
Right. So security deposit insurance, how does that a product that goes to the tenant? How does that work?

Peter Silvester (15:13.538)
So it’s a matter of clicking two boxes on a piece of paper. So they choose that, right? So now every month there’s an extra little amount of money that flows in with their rent. And it’s easy to calculate, okay, this many people, yes.

Brett McCollum (15:30.24)
This is for the tenant, correct? Okay.

Peter Silvester (15:34.254)
This well this piece is for the security deposit insurance right so that secures their security deposit Now if they leave if they walk out Then at least the property owner gets that Security deposit within two days

Brett McCollum (15:50.818)
That protects the property and it gives them the capital to be able to do it.

Peter Silvester (15:57.3)
Right. And let’s say they live there for five years or more, they’re still paying that same amount.

Brett McCollum (16:05.762)
So that, does that fund then grow, the security deposit fund, over time?

Peter Silvester (16:10.734)
It grows over time and even after 12 to 18 months we can establish how many claims. So you take that lump sum and additional fee up. First of all there’s a fee up front. So you add another $2. So there’s $2 that is a revenue stream on top of that.

Brett McCollum (16:18.154)
Mm-hmm.

Brett McCollum (16:27.5)
Good.

Peter Silvester (16:32.994)
but then there’s underwriting profits that are shared back with the property owners. So after 12 to 18 months, we can establish minus the claims, here’s the profits. Now this big chunk of money is profits that then you could continue to invest. So long as you don’t take it, you’re not paying taxes on it. that’s excellent. So that’s the one product. And that one product…

Brett McCollum (16:37.282)
Okay.

Brett McCollum (16:46.22)
Love it, yeah.

Brett McCollum (16:52.098)
Mm-hmm.

Right.

Peter Silvester (17:01.582)
can be divvied up any which way. You can be really creative and say, no, no, I want to take in $300, but the screw deposit is $2,000. So then because you want the tenant to have skin in the game kind of thing, right? So it could be done any which way. Now there’s people have dogs.

Brett McCollum (17:18.476)
Mm-hmm. Mm-hmm.

Peter Silvester (17:27.414)
Well, there’s a lot of states that are getting rid of junk fees and they’re a dog fee a junk fee in liberal states. So this is an actual insurance product and it’s dog bite, dog damage insurance.

Brett McCollum (17:33.409)
Hmm.

Brett McCollum (17:43.114)
Okay.

Peter Silvester (17:44.0)
Now there’s $10,000 coverage for bodily injury. So the tenant is going to love this because it protects them as the property, as the dog owner, and it also protects the property owner. Because if somebody gets bitten by a dog on your property, that could be a problem. Now if the dog damages your property, minus the property,

Brett McCollum (17:59.683)
That’s right.

Yep, there’s liability for sure.

Peter Silvester (18:10.318)
I have to say that. But if they start chewing up cabinets and doors and put holes in the wall or who knows what, you have coverage on your unit from this dog insurance. So that’s a benefit to the owner as well as the dog owner. Now that’s a nice piece because it’s $30. $10 up front goes the property owner. $10 off that.

Brett McCollum (18:10.486)
weren’t here.

Brett McCollum (18:22.06)
Got it.

Brett McCollum (18:37.794)
Mm-hmm.

Peter Silvester (18:40.706)
There’s no additional fee on top of that. The $10 comes straight out of a 30.

Brett McCollum (18:45.793)
Right.

Peter Silvester (18:46.67)
And it’s less than what you would say a dog fee is. Some companies are saying, I need an extra $200 a month or whatever it is. Well, in some states you’re not allowed to do that anymore. this insurance piece covers multiple realms. It covers the unit, covers the dog owner, and it protects the owner from having to adhere to owner’s laws in unwelcome

Brett McCollum (19:17.654)
Right, wow.

Peter Silvester (19:18.683)
So there’s those two. Now there’s renters insurance. Most owners require renters insurance just to cover their own stuff. Well this one is tenant legal liability insurance which covers $100,000 of the unit inside the walls of that unit. And it covers

Brett McCollum (19:26.786)
That’s right.

Brett McCollum (19:37.471)
Okay.

Peter Silvester (19:41.74)
five thousand, ten thousand, twenty thousand, whatever, of the actual person’s personal property. the tenant is going to have to get this somewhere else. But this is cheaper and actually covers the unit as well. So it covers the tenant and it the property owner.

Brett McCollum (19:56.396)
Mm-hmm.

Peter Silvester (20:02.826)
and the money is flowing through again with the rent so you know they’re buying it every month. Because if you have a tenant, if you require a tenant to get renter’s insurance, they might cancel it a month later. Now you have outside services that monitor that. Well, you don’t need that outside service anymore because you know it’s flowing through.

Brett McCollum (20:16.502)
Right.

Brett McCollum (20:24.638)
Interesting. Yeah, that makes sense.

Peter Silvester (20:26.54)
And again, this one, you add $5 on top of that. So it’s cash flow right away, extra revenue flowing in. And again, there’s underwriting profits on the back end because this also goes into that captive we’re talking about on those other two products. This is the third one now.

Brett McCollum (20:35.382)
Mm-hmm.

Brett McCollum (20:49.163)
Right.

Peter Silvester (20:50.434)
that also flows into that. Now minus planes, now we realize there’s a big chunk of money here that the owner has. Now that’s pretty clear, right? Okay, now there’s a fourth one and that is it’s a concierge service. Now this is a whole array of products that could be customized and you can take modules out or add modules in.

Brett McCollum (21:03.553)
Right.

Peter Silvester (21:19.38)
And this is like a, it’s just a very small fee for the insurance product in a way, for the tenant. And the tenant enjoys this because why? Because it helps them move in, helps them connect all their utilities, and it gives them identity fact insurance.

Brett McCollum (21:45.826)
Bye.

Peter Silvester (21:46.412)
So gives them the blanket at that. Also changes their air filters if applicable. You can take that module out, it doesn’t matter. Like I said, you could put modules in, take them out. also reports positively to the credit bureaus every single month that they pay on time. And if they miss, we give them a…

Brett McCollum (22:08.652)
Mm-hmm.

Peter Silvester (22:13.304)
you you give them a on one of the months if they miss. So a new person into the market, like they move away from home, they move into an apartment, they don’t have any credit history. So this adds up their positive credit history really fast. And there’s couple of other pieces that go into that, but…

Brett McCollum (22:17.739)
Okay.

Brett McCollum (22:34.23)
Sure.

Peter Silvester (22:40.206)
Generally speaking, is a concierge package that starts at about $4, $8, something like that. An extra fee is put on top of that. So again, you’ve got cash flow flowing in immediately that month. And the rest of it goes into the captive. So underwriting profits are shared back with the property owner on the backend.

Brett McCollum (23:05.346)
That’s incredible.

Peter Silvester (23:06.67)
And all this can add up to as much as $400 per unit per year.

Brett McCollum (23:13.698)
Wow, okay. And that’s, you beat me to the punch. That’s what I was gonna say on average. Like what are you normally seeing, you know, for the investor, like, you know, per unit, you know, upwards of $400. I mean, and that’s just for a product that the tenant has to have anyway.

Peter Silvester (23:30.914)
That’s right.

Brett McCollum (23:32.299)
You’re utilizing a resource that is going to have to happen no matter what and adding value to it, to the actual property owner. In addition to, I know as the investor, let me back up a little bit. Good investors, the ones that care about people, Want to give them the best thing possible. Want to give them nice properties to live in. Want to give them, especially if they’re raising families and things like that, you don’t wanna…

Peter Silvester (23:49.782)
That’s Yeah.

Brett McCollum (24:01.172)
Most of us are good people, I’d say most people are inherently good. There’s some bad ones out there, but there’s some good people, know, and you want to do right by them. And so they’re going to have to have insurance anyway. And then I see your guys doing that and giving them a great, giving your tenants a great product as well. It’s really cool to see it’s both sides.

Peter Silvester (24:13.976)
But.

Peter Silvester (24:22.36)
Thank you, that’s what I love about this because there’s a lot of owners out there that are kind of unscrupulous, let’s say, and they have onerous or punitive fees.

Brett McCollum (24:29.346)
Sure.

Peter Silvester (24:35.982)
to monetize their properties more so than just the rent. This, on the other hand, provides value to the tenants and value to the property. And with these kind of benefits, these tenants are likely to stay at a property longer, appreciate the owner much more, the property managers much more, than they would at other properties. Because these are truly value add solutions.

Brett McCollum (24:40.695)
Yep.

Brett McCollum (24:45.302)
That’s right.

Brett McCollum (24:58.018)
Yep.

Brett McCollum (25:05.536)
Yeah, I think this is great. I think for the service that you provide to the industry, I’m going to make a broad guess and what I’m about to say. And if I’m wrong, please correct me. OK? I would imagine that most of the real estate investor community doesn’t really understand or know this product. Yeah.

Peter Silvester (25:24.588)
That’s right. There’s other products. Here’s what’s really sad though is I do have to educate them because they might be using another product that is not true insurance. Especially with

Brett McCollum (25:38.839)
Hmm.

Peter Silvester (25:42.19)
Self storage because we could actually provide some of this for self storage owners But there’s a there’s some products out there that don’t come from insurance companies and they provide it at such a small fee That they say oh well you the property owner couldn’t tack on $15 $20 what the crazy amount of money the problem is if there’s actually a claim there’s no money to cover their claim

Brett McCollum (26:09.601)
Right.

Peter Silvester (26:10.51)
That would have to come out of the pockets of the owners if they have it. And if they don’t, and they get reported to the insurance agency, they’re going to be in big trouble. And there has been owners fined over $200,000 providing fake insurance. Yeah.

Brett McCollum (26:28.45)
That’s tough. Yeah, I think it’s just really important that we’re, I’m glad we’re doing this and getting this, information more out there to the public to, and.

And you knew this as a realtor, like in the realtor space. Do you know like how uneducated realtors are typically, right? And how, I mean, investors too, a lot of us got into it because we fell into something and we just started building something and we just, oh, this is how we do it, because this is how we’ve always done it. And, you know, if it ain’t broke, don’t fix it, you know, kind of thing. And there’s a lot of ignorance out there. Like you’re not trying to be bad. You just don’t know better.

Peter Silvester (26:45.454)
Right.

Peter Silvester (26:59.265)
Peter Silvester (27:03.776)
I was very shocked one day. was at the gym, know, being a realtor, I love to talk about real estate with everybody. You kind of have to to generate leads, right? So I was talking to this guy and he said, Hey, I’m looking, I’m a real estate agent. I’m looking for 50 units, whatever. Just talking about what I needed in that day. And he says, you came to me a little late. I just sold a apartment building. And to me, I’m like, what you…

What do mean you just sold it? Like end of story. I said, oh, excuse me. What do you mean you sold it? Did you do a 1031 exchange? No, I didn’t know what that was. Okay, so what did you do? I just paid the taxes and I was blown away. So that person hired an agent.

Brett McCollum (27:53.932)
Yep.

Peter Silvester (27:58.318)
worked with an accountant obviously right they probably have one and nobody told them hey stop you can’t just sell this property you can’t do that you have to do a 1031 exchange or you have to do something you have to get get a Delaware trust or something to save you you over $200,000 in taxes so

Brett McCollum (28:18.4)
Right.

But that part, mm-hmm, yep. And some people don’t know, you know, and you don’t know unless you were taught, you know, and it’s like, you almost, it’s when you don’t even know how to ask the question, because you don’t know enough to ask a question. And that part is where it’s like, hearing you talk about this, I’m like, of course I know what insurance is. Peter, I was an insurance adjuster.

Peter Silvester (28:27.522)
They don’t.

Brett McCollum (28:45.344)
You know, like I’ve adjusted over 5,000 claims. You know, I know the business. I’ve never heard of that. How am I supposed to ask a question to something I’ve never heard of? You know, kind of thing. And so I love that you’re doing this and getting this out there and talking about it more because we’re always, it’s add value to the property in addition to the cash flow. Because we know this, that renters are going to…

Peter Silvester (28:46.51)
Yeah.

Peter Silvester (28:57.527)
Right.

Peter Silvester (29:08.984)
Yes.

Brett McCollum (29:13.822)
Not every one of them, but renters are going to destroy properties. It’s going to happen.

Peter Silvester (29:18.39)
Right, now you have this extra layer of protection for that property so you’re not maybe not having to go to your insurance agent that covers the entire property. And the less times you do that, the more you save.

Brett McCollum (29:20.855)
that part.

Brett McCollum (29:30.678)
Yep, I think that’s brilliant.

Well, you know this, the average investor that has, let’s call it, a handful of properties or whatever, turnover, and they have to, how much money are they spending in getting the property turned? It’s a lot.

And then all the cash flow that they maybe had for that year and a half, two years is now just gone, plus some. they’re never really, and now they’re just banking on appreciation and hopefully that they have equity in the property. That’s what, well, I’m doing it for the equity. Ideally we would do it for the cash flow and the equity, right? But when you’re turning a property and that money’s gone. I think this really helps protect that. I love that.

Peter Silvester (30:13.016)
Good.

Brett McCollum (30:17.908)
If people were to want to reach out to connect to you to learn more about this directly, what’s the best way for them to do that?

Peter Silvester (30:24.652)
all they could call me at 737-881-9229 website well just I would say the phone call is best and yeah then just I’ll send them an email with all the details

Brett McCollum (30:30.986)
Okay. And website, anything like that.

Brett McCollum (30:38.519)
Yeah.

Brett McCollum (30:43.787)
Love that.

Yeah, and we’ll make sure that gets into the show notes and for people to read. He put his number out there guys, so that means use it, okay? And I encourage you strongly, like this is a, I just haven’t heard it.

pitched quite like this before in a way that makes sense from an insurance perspective. guys, I strongly encourage you to take a look at that. Have the conversation at a minimum. Have a conversation, get yourself educated, learn the product. Especially, gosh, Peter, people have to use it anyway. You may as well as a property owner monetize it like we’ve been talking about. So, yeah.

Peter Silvester (31:22.542)
That’s right. And to make it clear, is insurance covered by reinsurance covered by reinsurance with really huge names. The names are big deal, know, people don’t.

Brett McCollum (31:31.468)
Yeah.

Peter Silvester (31:36.022)
I don’t want to bore people with the names of these companies because like, you know, there’s already so much stuff we need to learn, right? Like these details of 1031 exchanges and things like that. once they call me and connect, they’re going to realize, wow, this is for real. This is a real insurance company. It’s not some fee company that is acting like insurance. And there’s insurance companies out there that were based from hedge funds that are in trouble right now.

Brett McCollum (31:43.33)
Sure.

Peter Silvester (32:05.936)
And they’re they’re the ones like I don’t want to name names and get in trouble with people but they’re taking in fees on top and providing fees to the property owners on top that they’re not sharing on the back end and And they’re not getting enough to cover the claims

Brett McCollum (32:05.974)
Yep.

Brett McCollum (32:21.122)
Yeah.

Brett McCollum (32:25.9)
Yeah, question for you. have thought about, I forgot to ask you this and I apologize. Who’s the target avatar for your clientele? Who’s the target person that this would benefit the most?

Peter Silvester (32:40.824)
There’s well, I just met a guy yesterday at my real estate meetup group, which happens every Tuesday in Austin. It’s a it’s a ongoing.

real estate investor communication meeting that has been going on for like nine years now run by Ken Harris great guy friend of mine and one guy was there and he has 2,200 units so he’s excited to learn because he is enjoying upfront fees but he’s not getting the back-end profits like I talked about so I’m gonna talk with him soon about changing him over to our product so that’s our our avatar somebody that has a portfolio

Brett McCollum (33:06.508)
Mm-hmm.

Brett McCollum (33:13.122)
Sure, yeah.

Peter Silvester (33:23.28)
of over a thousand. We can start with 300 units. The share of profits on the back end is not going to be 90%. It’s going to be less. Still, it’s a great way to start. There’s a lot of people growing and they just got to the 300 point. We could start them off right away. So there’s so many syndicators and also property management companies that watch this video and say, gee, I could add value to myself.

Brett McCollum (33:28.608)
Yeah.

Brett McCollum (33:41.282)
Perfect.

Peter Silvester (33:53.25)
by offering this to the owners, to the syndicators. Because the front end money coming in could be shared with your property management company. That way you’re incentivizing them. And then the huge amount of profits on the back end is just kept with the property owner.

Brett McCollum (33:57.954)
That’s right.

Brett McCollum (34:09.826)
That’s right.

Brett McCollum (34:15.926)
Perfect, yeah, and that’s it, I love that. So guys, if that’s you, reach out to Peter immediately. Go rewind, I’m telling you, you’re not gonna be sorry you did, but Peter, man, this has been great. I really sincerely appreciate you taking your time, spending, teaching us new things that we may not have heard of before and really educating us, and I really appreciate that.

Peter Silvester (34:41.752)
Thank you, Brett. It’s been a joy talking with you and look forward to chatting with you again.

Brett McCollum (34:44.439)
Yeah, of course. Well guys, to you as well, thanks for hanging out, spending your time as well, and we will see each of you on the next episode. Take care everybody.