KJ VanDerwerken is widely regarded in the Charlotte area as a successful real estate investor and an insurance expert. For his entrepreneurial successes, he won two 30 Under 30 Business Awards in 2018. To know more about his ventures and to understand his take on entrepreneurship, we recently interviewed KJ VanDerwerken.
KJ, Thank you so much for talking with us. What drew your attention towards entrepreneurship?
I believe entrepreneurship is a part of one’s genetic make-up. You’re either an entrepreneur or you’re not. School never interested me. I understood the importance of education and getting through it – but I was genuinely passionate about other things. In my first grade, I would buy stickers in bulk and sell them to kids to put on their backpacks and skateboards. In college, I was buying limited edition sneakers, and flipping them online for a huge profit. I was always infatuated with the process of starting, growing and capitalizing on different ventures.
You have been quite successful in the insurance sector. Please tell us more about your experience in this sector. What according to you is the most challenging thing for an insurance agent?
My father has worked in the insurance industry his whole life. That inspired me to study Risk Management and Insurance at UNC Charlotte. I was blessed to land a job at an independent agency in Charlotte, NC called Movement Insurance. My first year I did everything from open mail, to run reports, to shadow agents. As the company grew, I took advantage of an opportunity to get licensed and sell. I’ve been with the company over seven years now and have had the privilege to assist over 3,000 people with their insurance needs. The most challenging thing is maintaining first-class service, while maximizing your capacity.
How do you think the insurance sector will evolve in the next few years. Do you see it growing?
The biggest changes in the insurance sector are technology related. Consumers want simplification. Amazon can deliver almost anything to your doorstep in two days. People expect the same when it comes to their insurance. Apps are being developed to efficiently assist you in claims situations. Websites are being developed for quick and easy online quoting. Online portals are being perfected for fast access to policy information. We’ll continue to see technology improved over the next few years.
In your experience, do you think selling home insurance is a notch difficult than other insurance products?
I would honestly consider home insurance one of the easiest insurance products to sell. As opposed to products such as life insurance, home insurance is required if there is a mortgage. There are fewer risk factors than something like commercial insurance – so underwriting in comparison is much easier. After assessing their needs, educating them on available coverage options, you can implement a policy to protect them and their home. With that said, it’s equally as important.
You have also been a successful real estate investor. As the owner of VanDerwerken properties, how do you see the real estate sector evolving, especially after the 2008 subprime crisis?
As a real estate investor, I stay prepared for any and all market scenarios. In terms of investing, both bad and good markets create opportunities. I think the market is very strong right now. Mortgage rates are low. Companies like Zillow, Redfin, Opendoor, etc. joining the sector by buying, selling and mortgaging homes is creating the biggest changes currently in my opinion.
As an expert in dealing with rental properties, what suggestion would you give to newbies who wish to enter this sector?
Get with a loan officer, realtor and/or a financial planner. Take a look at your current financial situations as well as what you’d like to get out of real estate investing. Develop a short term and long-term plan. There are several ways to create wealth through real estate. You might want to flip homes for quick cash. You might want to accumulate income producing rental properties. Maybe, you’d just like to buy a first home to start building equity, rather than renting. Everyone’s situations and goals are different, so find your niche and execute on your goals. I’d also recommend shadowing. No matter what form of real estate investing you plan on doing, someone has done it before you. Things rarely ever go perfectly as planned, and if you can learn from other people’s mistakes prior to investing, you’ll save yourself a lot of money and headaches.
What message would you give to those who wish to start something on their own and follow their dreams but are somehow unable to do so because of fear or failure?
Happiness is the ultimate goal. If you’re not happy because you’re not chasing your dream or doing what you love – then you have to make a change and go for it. You can recover from failures. You only have one life. I personally fear getting old and looking back on my life with regret because I didn’t do something I wanted to – more than the fear taking a chance doing that thing.
