Dallas-Fort Worth Real Estate Investor Club

I recall hearing what seemed to be a consensus about this at one of the REI meetings. It seemed like no one thought it was a good idea (or not worth the money). But humor me. The seller is going to pay $475 for me to get one, so I'd like to hear some referrals.

I had American Home Shield in the distant past, but it was a lot more affordable then. The service fees now range from $75 to $125. Heck, my appliance guy only charges about $45 for a service call!

Thanks for your targeted responses about other options.

Paula

Hi Paula,

I have One Guard Warranty and been with them since 2013 and they are great.  Monthly service fee is only $57 a month and service calls per visit is $69.  I have them for my primary resident and rental.  Google One Guard Warranty and their home page should come up.  Check out their plans that fit your budget and give them call. 

Wil- REI Club Member 

Hi Paula,

For future reference, you are not required to spend the money credited to you at closing for a residential service contract on a RSC. If you do not believe they are a worthwhile investment (many do not), take the money and put it into a savings account to fix any future needed repairs on the property. If you never need it, then it is just additional profit.

If you are going to spend that money on an RSC, I suggest you 1) talk to the local sales rep for whichever company you are considering using (the local sales reps have the most impact on how well and how much service you are actually going to receive) and 2) carefully review which items the policy will/won't cover. 

Back when I used to use RSCs I usually chose American Home Shield. At the time they were the only RSC provider that would warranty foundation work (up to $500), plus I knew the local rep and she was great at getting her clients high quality service providers.

One parting thought. If you are selling a property, most Sellers can get a Seller's Home Warranty for free while the property is listed for sale.

Good luck in your future investing. And let me know if there is anything else my staff or I can do to help you grow your business.

-Greg

Greg Wilson

The REI Mentor