Episode Transcript
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Speaker 1 (00:00):
Welcome to the Business Happy Hour radio show with your host,
Frankdebank Koto, president of Lincoln Lending Group and eight one
three Mortgage for twenty years right here in Tampa Bay,
joined by his incredible co host Rosa Bahiti and Sinia Akishna,
top producing real estate agents with Mahara and Associates. These
three bring nearly five decades of experience in the local
(00:22):
real estate market. If you're looking for real estate or
business advice, no matter what your experience level, the Business
Happy Hour team has been there for you for almost
a decade right here on news radio WFLA. Now, sit back, relax,
and get ready for some serious real estate and business
talk with three of Tampa Bay's top experts.
Speaker 2 (00:40):
Here's Frank the Bank. Hey, Tampa Bay. This is Frankdebank Coodo,
owner of lincol Lending Group and eight one three Mortgage
dot com. Welcome to the Business Happy Hour, your number
one show for all things business and entrepreneurials. I'm trying
to join my Instagram live with Rosa Bahiti right here
Mahara and Associates hire. You doing Rosa so good? How's
(01:01):
everyone doing good? I got turned down my volume. Sorry,
I'm over here like making everybody hear me four and
five times, which I know you guys want to hear
Frank the bank four and five times every single morning.
Oh man, So on studio today with Sinya Akisha? How
we doing?
Speaker 1 (01:15):
No?
Speaker 3 (01:16):
Doing well? Loving this weather?
Speaker 2 (01:18):
Oh my gosh, it's isn't it so nice? Every morning?
Speaker 1 (01:21):
Like?
Speaker 2 (01:21):
I don't know, but y'all, do you ever have coffee outside?
To Rosa? Why do you not have coffee outside?
Speaker 4 (01:29):
Because I have a porch at my other property. I'm
just remodeling it still, so when I'm done, i'll have that.
Speaker 2 (01:35):
Very important question. Yes, are you still sleeping on an
air mattress?
Speaker 5 (01:37):
I am Rosa?
Speaker 2 (01:40):
Do you have to pump it up every night?
Speaker 6 (01:41):
No?
Speaker 4 (01:41):
Because it's like a custom advanced one?
Speaker 2 (01:44):
Oh yeah, where do we get one of those?
Speaker 4 (01:50):
Amazon? It even has the built in thing that blow.
Speaker 5 (01:54):
Up things, the button, so I.
Speaker 4 (01:56):
Just plug it in. I don't have to actually put it.
Speaker 2 (01:58):
You're sure you didn't get that from Tarji?
Speaker 4 (02:01):
No, from Amazon? I think it was like one fifty
and then I liked a mattresses. Yet two days ago
I could have gotten a mattress for the same price.
I know, but I'm moving it around.
Speaker 3 (02:12):
Yeah, she's like, who needs a real mattress?
Speaker 4 (02:14):
I realize I love my air mattress.
Speaker 2 (02:17):
So much so when you bring gentlemen back.
Speaker 4 (02:22):
Yeah, so I don't think anyone wants to come jump
on my air mattress.
Speaker 5 (02:26):
Maybe, but you never know.
Speaker 2 (02:28):
Listeners, Here you go.
Speaker 4 (02:30):
Rosa is interviewing right now, accepting applications.
Speaker 5 (02:34):
Accepting applications.
Speaker 2 (02:36):
Oh my god. So I don't know why we're talking
about the business happy hour about air mattresses, but I
remember your saying that like a couple of weeks ago,
and I'm like, I wonder if she's still in an
air match. You know what's acceptable during hurricane times?
Speaker 4 (02:46):
Yeah, it's all I'm making it acceptable at any point.
Speaker 2 (02:49):
Yes, speaking of hurricanes, we're going to have a great
guest on today. We're going to have Nick from Urban
Young Insurance. He's going to actually call in. I don't
think we've have ever done a call in together.
Speaker 3 (02:58):
No, no, the thing. Yeah, I'm excited.
Speaker 2 (03:01):
So yeah, so we're gonna do a call in Nick
from Urban Young. We're gonna ask him. I'm sure you
ladies have some insurance questions. I've got some insurance questions,
I think, and.
Speaker 7 (03:09):
We're going to have so many we're probably gonna run
out of time before we can even with half of them.
Speaker 2 (03:13):
We're gonna we're gonna let him say hi. He's going
to call in in about six or seven minutes, and
so it might be like in our second segment, we'll
probably bring Nick on and then you know, just let
him hang out with us a little bit. He can,
he can answer some questions. We do do a lot
of insurance with him, and he's he's a pretty good guy.
I like Nick. He's a good He's like seven feet tall,
two hundred and fifty pounds. Like the dude's like a linebacker. Wow. Yeah,
(03:34):
actually I think bigger than the lineback around bad.
Speaker 3 (03:35):
He's not in studio. I want to see the summer
foot tall man.
Speaker 4 (03:38):
Can he send us a picture?
Speaker 2 (03:39):
Yes, I'll make him do that. Actually, full disclosure, he
didn't come today because he is coming to our pro
event on Thursday. So if you are a local real
estate agent, now mind you if you're listening on Sunday morning,
I'm not talking about this Thursday, all right. I'm talking
about if you're watching Instagram right now or Facebook on
Thursday at Pro from twelve o'clock to two o'clock. Lincoln
Lending Group is hosting a big lunch and learn. Are
(04:01):
you ladies going to make it to that? I wonder?
Speaker 4 (04:03):
I am so busy on Thursday. What time is it again?
Twelve to two?
Speaker 2 (04:07):
Don't you have to eat? Rosa?
Speaker 4 (04:08):
I have a training?
Speaker 5 (04:10):
Oh my god, I would love to come.
Speaker 2 (04:12):
Okay you've been to one before?
Speaker 4 (04:14):
Yes?
Speaker 5 (04:14):
Yeah, well Hurricane.
Speaker 4 (04:15):
Stuff October twenty fourth, This Thursday, twelve to two at pro.
Speaker 2 (04:21):
At pro Penel's organization. Technically you're supposed to register, so
I'd really like it if you go to my Facebook
or Instagram page and actually click the link and register,
mainly because I need to know how many tacos to buy.
But you know, if you don't register and you show up,
I'm not kicking you out. Sinny is going to be
the bouncer and she's very very nice. You slipper A five,
you're getting in, I promise.
Speaker 4 (04:40):
And you can use Nick as back guy.
Speaker 2 (04:42):
Right all right? One hundred. Oh my gosh. You know,
I don't think we have time for it, but on
this if we ever have time, because your comment right
there was so perfect. There's a story from my bachelor
party from Las Vegas. Okay, this is going back a
long time where you know who Pamela Anderson is. Yes, well,
she was the right at the Pussycat Dolls theater at
(05:03):
Caesar's Palace. Actually shot, I'll just tell it real quick.
I've already started. And she came down on a swing
right like in like this big debut.
Speaker 3 (05:10):
The realm and like the impersonator.
Speaker 2 (05:13):
So the night before we were supposed to have VIP
in this club and they screwed something up and we
didn't get it. So they thanked us by giving us
free tickets to this Pamela Anderson thing. And so all
my buddies and everybody are staying around the station. Here
she comes on a swing and you know, swinging whatever
music's on, and like her. Some of her friends were
staying right there next to where my guys were staying.
And one of her friends takes a twenty and kind
(05:33):
of puts in like in a little strap thing or whatever.
And this is not a kid friendly story, and children
turn off the radio right now. And she looks down
at the twenty and like makes like the comment like
you just made like a twenty. Yeah, my best man, Tony,
if you're listening before she could get the words a
twenty out of her mouth had a hundred and slid
(05:54):
it right there, and she looks at him and goes,
that's what I'm talking about. And here's the best part.
This was before cell phones, like not cell phones. I
sorry it sounds terrible, but before like people use them
take pictures all the time, and so there was there
was websites where they called like club picks and things
like that, and there will be photographers in these places
taking pictures. There is a picture. I can get it
for you and show you of Tony doing this. Here's
(06:16):
the greatest part, Nick Lache standing next to him, Robin Leach.
Do you know Robin Leach is from Lifestyles of the
Rich and Famous? You would you definitely need to Lifestyles
of Reaching Finus. That's probably why Crocodile Dundee. But anyway, yeah,
it's hilarious. So that that went down in history. So
I'm sorry the first that comment I had to deviate
because I'm like, that's exactly what Pamela Anderson says.
Speaker 4 (06:37):
So you gotta find this picture and posted on the Facebook.
Speaker 2 (06:41):
God, all right, all right, I'll get I'll get on here.
And tell Tony, hey, I need the picture of Pamela
Anderston at my bachelor party a SAP. We're talking about
it on the air. Okay, there we go. Now we
got to get back to work. So Nick is holding.
We're gonna I think, James, you want to tell them
we're gonna bring him on the second segment. We'll finish
out this second and get him on. Oh good, Hei, Nick,
(07:02):
and uh sennya, I know it's been a little wild
here recently. Did we do any stats for this?
Speaker 7 (07:08):
I'm skipped him last last week and honestly I did
check today. The September stats aren't out yet, but I'll
be honest, like, I just don't know how relevant they're
going to be because these hurricanes. I mean, this is
going to cause I think a changes.
Speaker 3 (07:25):
On our market. Disruption, a little disruption.
Speaker 2 (07:28):
Yeah, I know Ray. By the way, Senny and Rose
are both with Ray Maharran associates. Ray has his finger
on the pulse right now because him and I are
texting here and there. I mean, he knows some things
out on the beach, and it's it's kind of weird,
right because I've heard some really bad stories about people
going up and down the street with contractors and literally
trying to buy people's homes and like kind of in
(07:49):
my opinion, to take advantage right, not the time right
to do this. But Ray has has had a lot
of people reach out to him that are in a
bind and they're like, hey, you know, I can't repair
the house. I didn't have insurance something like that, which
we're going to talk about today with Nick and he
and He's people are offering these deals, so they're out there.
(08:10):
So it's I think it's going to be weird, like
there's gonna be this flux. Right, How are y'all feeling it?
How is this week?
Speaker 3 (08:15):
Well, we definitely are.
Speaker 7 (08:16):
And I mean I think if you are trying to
sell your home, right for one, even just camping out
your property, you know it's not going to be listed
as a distressed home, but you're gonna have to read
those descriptions and see, hey, you know this other home
in my neighborhood, you know, listed for so and so
you know, see what kind of damage it is. And
I think just for values, you know it's going to
play a part in it.
Speaker 2 (08:37):
Okay, So that's a great point of if the listeners,
if you're not understanding what Sennya was just saying, it's that,
it's that. And when you do an appraisal, they look
at sales usually in the last three months, and they
try to get sales as close as possible. So the
sales the comps are going to be very weird up
because you don't know, like what if this guy had
a tree fall in his house and this guy had
floodwater in.
Speaker 4 (08:57):
His So we need to understand what those adjustments are for.
Speaker 7 (09:00):
Each well that any but if you're looking at a
comp that's sold, you know, a month and a half
ago before the hurricanes, I don't know how relevant that's
going to be now because things are going to shift.
Speaker 2 (09:09):
I think we're going to have the responsibility to It's
going to be more work on the appraisers and the realtors. Unfortunately,
is like to know the comps. So and if I
was you two, I would be looking at pre hurricane
comps to get a better understanding. But then sales afterwards
it could be all It's like a whole new market,
right do you think people are scared? Do you think
are we are we losing some buyers right now?
Speaker 4 (09:31):
I'm having people still wanting to buy like families wanting
to buy homes and put in the sweat equity because
they're like, great, we can afford this, and we can
be on the water now and we're okay with the flooding.
Speaker 2 (09:41):
I love her positive.
Speaker 3 (09:43):
Those are the great people.
Speaker 7 (09:44):
But no, there are going to be people that are
going to hesitate. I think some people are going to
hesitate about moving here in general. You know, it's a
really big storm for us.
Speaker 2 (09:52):
Well, the good news is, statistically speaking, you got one
hundred and twenty years, guys or something like that. You
got one hundred years before it's going to have f Yeah,
let's do this. But to Ros's point, there's a lot
of people that are seeing you know a lot of
anytime something bad, there's opportunity, right, Yeah, people they're seeing it.
And so the questions that we've been getting this week.
(10:12):
Literally walking into the studio today, I had this question.
It was a lady called and and she said, what
do I do? She's like, I love this house, it
was damaged, seller's not going to fix it. How do
I buy it? And there is one answer to that question.
It is a renovation loan, right, And I'm gonna explain
in twenty seconds. How that works? And hopefully I've told
you two before how we Yeah, just add the price
(10:35):
of the repairs to the price of the house, simple
and then put your down payment down. That's it, well, right,
and it's so easy. But everybody, everybody thinks it's complicated, right,
So we're.
Speaker 4 (10:44):
Here to make it not so complicated.
Speaker 2 (10:45):
Exactly exactly. And you know, I love ros's positive attitude,
like there's good, good deals out there. It's going to
be good for people, and if they need help, there's
help out there.
Speaker 5 (10:54):
Yep. And yeah, how much time do we have I'm
going to twenty go?
Speaker 4 (10:58):
Oh okay. Another thing I heard recently is someone was
talking about buying right now is a good time to buy,
not because of the storms, but because of the interest rates,
because a lot of people aren't buying, so the investors
are buying right now, so it's a good time to
actually buy because once the rates might drop a little bit,
then we'll see more activity and those investors might be
(11:19):
selling to those people and marking it up a little bit.
So I still think it is a good time to buy.
Speaker 2 (11:24):
I always think, what do you think, siny?
Speaker 7 (11:26):
I think, I mean I agree, and I mean for
those people that do want to fix up home, there's
probably going to be a whole lot of that, you know,
homeowners that don't want to put in the money, you know,
don't have the resources or whatnot, and they just want
to be done with it. There's going to be investors
buying it up, putting on you know, all the latest touches,
and I agree there'll be some good buys.
Speaker 2 (11:43):
So not to talk to Doom and Gloom. I do
want to ask you all a question, but we're going
to save it for the next segment when we bring
Nick on. I want to know, I want to talk
about Force Majure because I don't think we really touched
that last week, only for a second, and I think
a lot of people who are in contract right now
need some advice. So I want to ask the two
of you as a license XP. It's on real estate.
But now I lost track of what I was gonna
say before. Anyway, Uh, great deals, great time to buy,
(12:07):
don't hesitate. You gotta go to the Real Deal Tampa
dot com. That's it, realdeal Tampa dot com. If you're
interested in finding the house, Rosa and Sennia will find
that for you and of course, contact Frank Thebank dot com.
We'll be back in just a minute with Nick from
Urban Young Insurance.
Speaker 1 (12:20):
Now we're back with some serious real estate and business
talk with three of Tampa Bay's top experts. You're host
of the Business Happy Hour Frank Thebank, Koto, Rosa Bahiti
and Senia Akeishna.
Speaker 2 (12:31):
Welcome back to the Business Happy our friends. This is
Frank Thebank Koto. Like and share find me on Instagram.
That's what I like to do these days, Max, to
the chagrin of my wife, She's like, why do you
have to do the Instagram stuff all the time? Does
your husband do that to you?
Speaker 3 (12:46):
I don't think you watch us.
Speaker 4 (12:47):
No, Well, I shared our stats with you guys. The
consistency is paying off, Like each time we're getting we're
gaining more and more traction.
Speaker 2 (12:55):
I didn't see that. I'm a terrible co host.
Speaker 7 (12:57):
Oh but you know why he shared, don't you? And
I didn't ask him. Sorry, but I think he saw
you at Ace Hardware?
Speaker 5 (13:03):
Who did you the other day?
Speaker 3 (13:05):
Yeah? Because we go to that same one, because you're
on a gun highway.
Speaker 2 (13:08):
Yeah, I'm always like in and out of there.
Speaker 3 (13:10):
Like okay, I'm like I'm sure it was Frank.
Speaker 7 (13:12):
But I think the only reason is because he hasn't
met you, is because he sees you on Instagram.
Speaker 5 (13:16):
So to say hi to me, you should have been
like Frank the bank ask me, like, do you ask him?
Speaker 3 (13:20):
Wasn't him?
Speaker 2 (13:21):
Was it him?
Speaker 3 (13:21):
Like I lost on the show?
Speaker 2 (13:22):
It was me. I was at a hardware twice over
the last couple of days. That definitely. I was there
yesterday morning. Maybe that's when it was.
Speaker 1 (13:28):
Uh.
Speaker 2 (13:29):
Anyway, So we're gonna bring on Nick here in just
second from Urban Young Insurance. Actually, I'll do it. Nick.
Can you hear? Are you there?
Speaker 6 (13:37):
Oh? I'm Nick?
Speaker 2 (13:39):
How we doing? Brother? How are you?
Speaker 1 (13:42):
Hey?
Speaker 6 (13:42):
I am? I am doing as well as it can be.
I am, you know, recovering like everybody else from the
storm and and you know, helping out anywhere I can.
Speaker 2 (13:53):
That's awesome. That's awesome. I just thought about for our
Instagram users.
Speaker 4 (13:56):
That but things off.
Speaker 2 (14:00):
Wait a minute, how does that work? It might work?
Just just put them on.
Speaker 4 (14:03):
There here you mic and I'll.
Speaker 2 (14:06):
What do I turn my mic off? Sorry? Nick? We're
figuring this out here real quick. Okay, let's see creative here.
Speaker 4 (14:14):
I think the headphones, I.
Speaker 2 (14:15):
Think it's working. Yeah, So Rosa just put her headphones
on her phone so everybody on Instagram can listen to you.
But Nick, thank you for taking the time, uh to
come and listen and be on the business Happy Hour
with Rosa and Sending and myself. Nick is with Urban
Young Insurance. Like I was saying, I think we've worked
with you guys for like five years or something. It's
been a long time, right, yeah, oh yeah.
Speaker 6 (14:36):
It's coming up. I think it's yeah, about five years now.
Speaker 2 (14:39):
Yeah. Yeah, So we uh, Rosa and Sending are both
licensed real estate agents and obviously you know that I
own Lincoln Lending Group where we're we just we'd probably
like to have a little bit of an insurance discussion today.
I ask you some questions. We're hearing all kinds of
crazy things. Uh, and while we have you on, we're
gonna we're gonna talk about force majeure as well. Actually,
let me get into that right now, Becauseinny and I
(15:00):
kind of left off on it, and then we're going
to I'd like you to kind of give us a
bit of a status on the insurance industry, Like, you know,
some of the questions we want to ask you like,
how is this storm going to affect things? You know,
our price is going to go up now or is
it making things harder? But before we do that, Sinnia,
you're telling me in the break you've got a deal
going right now? And are you having are you having
(15:20):
issues with sellers or listing agents or anything regarding force
masure and getting the time you need for these inspections
and the delays because it's not just the house inspections,
it's it's just underwriting in general. Like, I mean, you
think about it. We were shut down two weeks solid
out of October. Some people three weeks or longer.
Speaker 3 (15:39):
Yeah, what do you know?
Speaker 7 (15:39):
The issues I'm having is actually getting the workers needed
to so I have a roof issue, which the lenders said, hey,
we sent a guy out there. He said, there's some
missing shingles, right, you guys need to patch it up
for us to close, and trying to get a roof
right now.
Speaker 3 (15:53):
I mean they're all so busy, and I'm sure Nick
is super busy. I'm thinking out of everybody insurance guys.
Speaker 2 (15:59):
Are are you getting blown up? Nick? Is it crazy
out there?
Speaker 6 (16:05):
Yeah? Yeah we are. And you know it's really about
just guiding your client, you know, who to call, what,
you know, hold their hands in the claim if if
they want to. But it's pretty much on the front end,
just making sure that they had the coverage, figuring out
if filing filing a claim is the right thing to do,
you know, going up the deductibles and things like that,
(16:25):
and assessing the damage. But you know, we got hit
with a unique situation because it was Boom Helene with
the flood and that was all flood claims and then
you know, this big storm came and that was that
was a lot of wind damage in Saint Pete and
I think Matt was telling me that I think Saint
Pete recorded like some of the highest winds to the
whole storm. So uh so, yeah, so I'm definitely very
(16:50):
busy and just kind of educating the clients on on
who to call and kind of holding their hands through
that process. You know, it is a catastrophic event. So
a lot of times insurance companies are a little bit
more lenient when it comes to filing or claim I
know back you know before when you shop insurance, if
you have some claims, it could really hurt your insurance score.
Right this this won't really do that because it is
(17:12):
a catastrophic claim or catastrophic scenario. So they are a
little bit more lenient where if you go to buy
a new home and you know, you come up and
you have a couple of claims and one is a
catastrophic claim, they tend to turn the other way or
kind of pass that one by.
Speaker 2 (17:27):
Nick.
Speaker 7 (17:27):
That was actually gonna be one of my questions, like
what classifies like catastrophic event for insurance purposes?
Speaker 6 (17:35):
Yeah, something like this, if a hurricane really hits you,
there's not like a I don't think there's like a
monetary measurement for like how many how many homes get
hit with it, or how much insurance pays out. It's
just you know, I don't even that's a very good question,
is like what what categorizes us as they're classifies as
(17:56):
as a catastrophic claim. But I think it's just like
when a hurricane hits a community or hits the state,
and it's just obviously it's it's bad. You know, this
isn't a situation where hurricanes just brushed by and and
you know it's it's people are firing claims, you know,
months down the road and they're just trying to get
a new roof because the roof is extremely old anyway,
(18:19):
so they can kind of really you know, they can
kind of tell what's from the storm and you know
what's not. And I think what I'm trying to get
at is now when when adjusters come out and they
look at homes and everything like that, they kind of
are a little bit more their guards a little bit
more down, like you know, they feel for the client,
and which is kind of rare. You know, I know
(18:40):
the turn is all bad, but it is it can
be scary, but when you get that, when you get
that claim check, it's it makes things a little bit better.
Speaker 2 (18:49):
I think my guess, Senia would be, it's it's when
it there is something in our on our side, especially
for like the FAHA two or three h program, if
it's considered a federally declared presidentially declared disaster area, I
think when the Feds get in and say, yeah, this
is a disaster, I'm pretty sure that's like the rubber
stamp that we're looking for.
Speaker 7 (19:07):
But for like a claim, I mean, I'm guessing if
your house value is worth you know, five hundred thousand,
and say your damage is you know, two hundred thousand.
I didn't know if there was like a number, like
a threshold if you just need a new roof, because
that's you.
Speaker 2 (19:17):
Know, you're well. I definitely want him we have a
little bit of time before the breaks. When we get
back from the break, I definitely want him to go
into detail on flood versus regular like and I don't
know if we call it wind versus flood or whatever,
but there's a significant difference in the in the deductibles
and how these are handled. But I will mention this
because I love that Nick said that the insurance adjusters
(19:40):
are more lenient, because it's always been my opinion. And Nick,
we can pick this up when we get back as well,
but it's always been my opinion that you want to
hire an independent adjuster. However, my agent on a policy
that I have on my house told me, he goes,
I'm sorry, it's not Nick, but he says, it's old, old,
old policy, and he said no, he goes go with
the insurance company. He goes, they are working with people
(20:01):
and being more lenient. So what Nick said it I
think is one thousand percent true. He's like, they'll they'll
scrutinize you more if you get the independent one. Anyway,
We'll save that f when we get back the real
deal Tampa dot Com. Oh man, I love how we
did that. Contact Frank the Bank reverse Guru, all kinds
of websites, Like and share us on Instagram and Facebook.
We love checking it out Every Tuesday. We will be
(20:21):
live for you right here on Instagram. We'll be back
in just a minute with Nick from Urban Young.
Speaker 1 (20:25):
Welcome to the Business Happy Hour radio show with your host,
Frank the Bank Kodo, president of Lincoln Lending Group and
he won three mortgage for twenty years right here in
Tampa Bay, joined by his incredible co hosts, Rosa Bahiti
and Sinia Akishna, top producing real estate agents with Mahara
and Associates. These three bring nearly five decades I've experience
(20:46):
in the local real estate market. If you're looking for
real estate or business advice, no matter what your experience level,
the Business Happy Hour team has been there for you
for almost a decade right here on news radio WFLA. Now,
sit back, relax, and get ready for some serious real
estate and business talk with three of Tampa Bay's top experts.
Speaker 2 (21:05):
Here's Frank the Bank, Tampa Bay. Welcome back to the
Business Happy Hour, your number one show for all things
business and octrepreneurial stuff. Losing my mind. I found the picture.
By the way, I just showed the girls during the break.
It is real. This disclaimer. I'm going to show it
on Instagram, total disclaimer. If there's children watching, it's really
(21:25):
not bad. But there you go. I was not lying.
That is my best man putting one hundred dollars bill
in Pamela Anderson's bikini.
Speaker 3 (21:33):
And that does look like the real Pam Anderson, not
the impersonator.
Speaker 2 (21:35):
Oh no, that was the real Pam Anderson for sure.
Totally amazing. Just the fact that, like cell phones didn't exist,
but that picture was taken I will not exist. But
you know what I'm saying. Like, by the way, you
see the new Apple, it's like they have a new
camera button. Now, that's the new feature. Basically we're buying
cameras that we can call people on. That is like
when I figured it out with these phones, right, Like
every time the update is like it's a badass camera
(21:57):
and I'm like it's up anyway. Yeah, So we got
Nick from Irvin Young Cinya had some questions. I do
want him to talk about flood versus wind. But let's
go back to what you're talking about in these different policies.
What was the questions?
Speaker 3 (22:13):
Well, yeah, I just.
Speaker 7 (22:13):
Wasn't sure like what classified something as a catastrophic claim.
I wasn't sure if it was related to like just
the value or you know, how much damage versus you know,
the value of the home.
Speaker 2 (22:22):
Yeah, that's right. He was saying that it's so they'd
be more lenient on us. So if it is catastrophic,
it that that means I think you're kind of telling us, Nick,
is that in these major disasters, which we all know
that's what this is, they're just going to work with
us more. Is that basically the bottom line?
Speaker 6 (22:39):
Yep, that's exactly right. And he said something too that
I wanted to kind of add on to was when
you said, you know, you're talking to people and they
might think about getting a public adjuster first. Yes, because
obviously insurance has a bad rep so they just want
to make sure that they're getting the full value of
their of the damage of their home, you know what
I mean. So what a lot of people do I
(23:00):
don't know is what when you get a public adjuster,
And from my experience and from what I from what
I know is that they automatically get ten percent of
whatever that claims check is going to be. So what
instead of doing that, instead of giving them ten percent
off the top automatically, what I think you should do
and what I recommend doing and what I recommend my
client is go through the process with the adjuster that
(23:21):
the insurance company a points and then because you know,
at the end of the day, if he gives you
the value that you both agree on, which is sounding
like so far that you know they're being pretty pretty
fair on, then you get to keep all of that money.
You don't have to give ten percent to anybody. So
say that. And then, especially when you add a public
adjuster into the claims process, takes twice as long. So
(23:45):
instead of maybe thirty days or forty five days to
get your check for the claims, it's going to be
four or five months because it's the whole process that
they have to drag out. So and then you can
always argue it too. You can always get a public
adjuster at the end, you know, if you don't agree
with it. So you just.
Speaker 2 (24:01):
Answered the question that that was what I really wanted
to know. If you started one way and you disagreed
with your insurance company, you can always get a public adjuster.
Private I don't know what they really are, but the
independent adjuster.
Speaker 4 (24:12):
Right, public adjuster.
Speaker 3 (24:15):
Public.
Speaker 2 (24:17):
I was like, it's private adjuster, but.
Speaker 4 (24:19):
I've seen them titled the public adjuster.
Speaker 7 (24:22):
Well Nick would know, he's the insurance guy, but I
actually I've never had an insurance claim before, and I
didn't realize even when this adjuster does come out, you know,
it works for the insurance company. The homeowner does participate
in the process, and you know, kind of hay, do
you agree with this?
Speaker 2 (24:36):
Is there is that right?
Speaker 3 (24:37):
There is some say from the homeowner.
Speaker 6 (24:40):
Yeah, for every company is a little bit different how
it goes. I know with FEMA and flood, so they've
been getting adjusters from all over the state. There's there
have been, because I met a few at some client
houses to kind of you know, hold their hands to
the process and uh there the one adjuster was from Mississippi,
one was from Alabama. They're they're coming from all over
(25:01):
because just because there's been so many claims filed, but
they're all they all worked out a little bit differently.
But yeah, so if you just go through the process
with them, they're just gonna go through the whole house
view everything, and yeah, you just you just kind of
have If you have receipts for things too, that's a
huge help because it's an obviously, you know, dollar to
(25:22):
a dollar value, depending on what your policy says. It
could be actually dollar to a dollar value, but it
really depends on, you know, what your policy has. But
receipts really help because you can just try to tell
the adjuster, you know, these are the things over my house.
These are things you can see that are clearly damaged
or in a pile on my front and lawn right now.
But uh yeah, so I always I always recommend if
(25:45):
you're you know, doing renovations or whatnot, always keep receipts
because you know, God's forbid to say. This hurricane last,
you know, came in a few weeks later, and people
already repaired their homes from Halleen and I know so
and then that this next one came, well, what was
the name of it, Milton, I I already gave you
(26:06):
the most recent hurricane.
Speaker 2 (26:08):
But so talking about the receipts, Cenia, you said, you
never filed a claim. I had the pleasure of filing
a major water loss about five years ago, and Nick
Nick brought up it was very interesting two things. One
and I think you should elaborate on this, Nick, because
you touched on it very gently. And I actually have
(26:28):
one of our managers are at our office had a
loss from the first hurricane and they chose to do
and Nick helped me with this actual value versus replacement
cost value on her contents? Am I saying that right?
And so what happened was when they went in to
pay them, which it was obviously a loss. It was
(26:50):
three feet of water in their house. Right, It's not
like you're you're disputing that. Literally, they gave them what's
called the depreciated value for all of our furniture, computers, everything.
So you know, what's a used couch, what's some air
mattress worth? I used air mattress. Well, we know they're
new at one.
Speaker 4 (27:04):
Hundred and fifty, maybe fifty.
Speaker 2 (27:07):
She'll sell it for fifty. You heard it here today
on the business app are fifty dollars used.
Speaker 5 (27:10):
Air mattress suit.
Speaker 2 (27:11):
I'm signed by ROSA two fifty anyway, But in those
areas though used furniture has like no value, right, as
compared to the guys who like, when I had my claim,
I chose to do the more expensive and I'll let
you speak to this in a second. I'll shut up
as the mortgage guy. But my personal experience was anything
I had receipts for it was like done data. Like
(27:32):
they're like, yep, okay, here's your receipt for one thousand dollars.
You're getting one thousand dollars, right, And when I didn't
have receipts, they allowed me to research, to go online
and go, you know, find the same item online. Now.
It was also important to have pictures, is that right, Nick,
Like you always want to have pictures of your your belongings.
Speaker 6 (27:50):
Yep, yep, that's correct, yep.
Speaker 2 (27:51):
Especially if they floated down the river.
Speaker 6 (27:55):
So that's a very important use of coverage. And it's
actually kind of what we will either win business on
or lose business on a lot of the times, depending
on what other agents are doing. So it's kind of
just like how your home is valued, right, So for mortgages,
you need your home valued at replacement costs rather than
actual cash value, which is just depreciated value. So same
(28:18):
thing with your contents, but this isn't mortgages don't care
about your contents, but it's the same exact type of
same coverage. So we always like to add the personal
property at replacement costs. So that means if you bought
a couch in twenty twenty for five thousand dollars, if
that couch gets damaged in a fire or a covered claim,
you'll get the full price for that couch if you
(28:40):
have actual cash value or if you have replacement costs
on if it's actual cash value, you would get the
depreciated the appreciated value of that couch for five years
or four years, so you might only get fifteen hundred
dollars depending on what the adjuster says and what they.
Speaker 4 (28:56):
Come to because of the.
Speaker 2 (29:00):
Saying is that that's that's because the property is because
it's worth less because it appreciates over time. Is that
the way you're explaining it?
Speaker 6 (29:07):
Exactly? Yeah, so yeah, exactly. So what is the value
of a four year old a four year old couch?
That's why it's important, and it's usually around it's a
it's not like an exact monetary value on the policy,
but it's a certain percent of the premium. So the
higher the premium, it's obviously the higher the price it's
(29:29):
going to be to keep the replacement costs on your contents.
But but you know, some people obviously they want to
stretch the dollar as much as they can so they
if they find that they don't really have that much stuff,
or they find that they don't really have nice you know,
care about their things, and they want it to save
(29:49):
like the extra for maybe five hundred bucks for the year.
That's also fine too. So it's funny. We also like
we'll get when people shop around their insurance, they'll probably
receive two exact quotes, two different agents, and the only
thing different is one agent will put the personal property
replacing costs on and one will remove it. And usually
the person the client will go with it just a
(30:09):
cheaper option, not knowing why it's cheaper.
Speaker 1 (30:12):
Right.
Speaker 6 (30:12):
Well, that's a very good question, and it's like a
very kind of a big piece of how most agents
win or lose business.
Speaker 2 (30:20):
I think if anybody, I think, if all of you
are listening right now, if you check on anything on
your insurance, I think you should be checking on the
replacement cost factor of your contents because let's be real.
I mean, most things don't blow your house away, right,
they don't. They don't ruin the structure of your house,
not necessarily maybe the flood stuff, but your contents always
gets damaged. Like in that flood on that water claim
(30:41):
I had from a broken pipe. It wrecked so much
stuff it was ridiculous. It was raining my garage, It
destroyed my wife's car, almost destroyed another car. And I
don't think they're considered couches. But the contents, because we
had all this stuff stored in the attic, was unbelievable.
So thank god we have that. I mean, it was
a difference between literally us getting a four thousand dollars
(31:02):
check and a forty thousand dollars check and what did
it cost? Five hundred bucks? Now we'll save from a
mortgage standpoint, that is a trick that we use. I
don't know if you ladies knows the trick. Now, it's like,
you know, if the person's debt ratio is off, then
lowering their interest rate or putting down an extra ten
thousand dollars. I don't know people know, but it's about
(31:23):
five dollars per thousand when you put money down, it
doesn't make a big difference. You got to put down
fifty grand to make a five hundred dollars difference and
a mortgage payment or actually way more. No, that's about right.
But ten thousand dollars gives you like a fifty dollars difference.
It's like nothing. So it's much better. You can just
lower the insurance. You can switch it over. Call Nick
and be like, all right, take away the replacement costs
(31:43):
on the contents, it saves them fifty dollars a month
you close, and.
Speaker 4 (31:46):
Then after you close, then you call Nick backup or
your insurance agent and you put that back on.
Speaker 2 (31:52):
Nailed it. That's a great post, actually right, It.
Speaker 4 (31:55):
Is really like hitting it hard with these videos. I
see them every day. I'm proud of you.
Speaker 2 (32:01):
Thank you, lucky chair, lucking chair. But it's so funny
though that that algorithm to deviate real quick if you
post every day, it is insane.
Speaker 4 (32:09):
It's a part of it. If you're a business owner,
definitely be posting every day and useful information too. That's
valuable to your education followers.
Speaker 2 (32:17):
And you do have to put a little fun out
there too. You have to throw it out. But I
went from twelve thousand followers to almost sixteen thousand followers
in less than a year. And I'm not doing anything.
I'm just posting.
Speaker 4 (32:27):
You're not buying followers.
Speaker 2 (32:28):
I did one time three years ago.
Speaker 4 (32:30):
So that's how you got up to that twelve to start,
you know.
Speaker 2 (32:33):
Hey, we have to take a break. On that note,
Rose of Ahiti from Ahar and Associates. We'll be back
in just a minute with Senni Akuisha, Frank Coto, Frank
the Bank. Stay tuned. We'll be back here with Nick
and Urban Young as well.
Speaker 1 (32:44):
Now we're back with some serious real estate and business
talk with three of Tampa Bay's top experts, your host
of the Business Happy Hour, Frank the Bank, Coodo, Rosa
Bahiti and Senia Akishna troubled It.
Speaker 2 (32:55):
Hey, Tampa Bay, welcome back to the Business Afyr. We
are having a great time. I do want to mention
really quick. We only have Nick for about four and
a half more minutes, but I do want to mention
we have a listener who sent a few questions to
us recently and they wanted us to address I think
was Steven. Is that right?
Speaker 4 (33:12):
I think they didn't share the name and the part
that you shared with us.
Speaker 2 (33:15):
Okay, yeah, I'll to double check that. But they they're
asking a couple questions about homestead exemption, and we were
talking about that together that if you if you go,
if you own a house and you had your exemption
for many years and then you sell that house, right Rosa.
Speaker 4 (33:31):
And then you so you pour your homestead over. I
didn't fully understand his question. So he was saying, if
there's a gap in time between when he sold and purchased.
Speaker 3 (33:42):
Guys, we didn't discuss this for the thread.
Speaker 7 (33:45):
I feel like his question was actually relating to capital
gains tax I think you're right, yeah, the homestead exemption
or the portability because he sold it and now he's
wondering about the two hundred to two hundred and fifty thousand,
which it is two hundred and fifty thousand for or
a single single filer.
Speaker 2 (34:02):
Yeah, yeah, no it is. And matter fact, let's we're
going to table that. We're going to back to get
back to that in about three and a half minutes.
Because that's all that that we can have the caller
on with Nick until one pm. What else can we
What are the questions you have for Nick?
Speaker 4 (34:14):
I have a question for Nick so I had a
client come to me and they said that they heard
if you file two claims flood claims I believe, or
claims and on a home that no longer will that
carry or carry insurance for.
Speaker 2 (34:29):
You, that's a good one. And he's he touched on
that that they're being more lenient. We need to know
about that.
Speaker 6 (34:34):
Yeah, well, so most flooded insurance policies in Florida are
written through FEMA. But there's like a there's a there's
a company that there's companies that you can go through,
but they're basically SEMA companies. So sure that one company
might not write with you might not be able to
get a policy through them anymore. You would have to
go directly through FEMA. And then and yes, that's true.
(34:56):
I believe if it's two policies within a couple years,
two flood claims within a couple of years, that company
will eventually drop you or non renew you, depending on
when the policy is. And then you just have to
call your agent and you have to go. They'll put
you directly to FEMA, so you can still get insurance
and those rates are all governed by FEMA, so it's
(35:16):
not gonna they're not going to They're not like private
carriers where they can increase you for filing claims or
anything like that. It's just basically whatever your house is,
the elevation for that discode that area. That's what the
premium is going to be.
Speaker 4 (35:29):
Okay, thank you for clarifying that. Yeah, I kind of
figured as much, and I told my clients, I'm like,
I'm pretty sure there's plenty of other insurance carriers that
will pick you up in the event that that happens.
Speaker 2 (35:39):
Yeah, well, I also I like it.
Speaker 6 (35:42):
Yeah, it's actually just so it's actually just FEMA. So
like you would have to basically you're foregoing the the
middleman the other insurance companies that you would write through,
and the agent has to put you directly through FEMA.
Every agent, insurance agent good have like a SEMA login,
SEEMA flood login where they can just go and write
directly through FEMA. That's like the that's what you have
to do if there's multiple claims within within a year.
Speaker 2 (36:04):
Yeah, And I mean I do understand that they are
going to be a little bit more lenient because I
was told I had a second water situation with another
year of my laws one and my agent's like, don't
file it, is like, you just need to deal with
that one. But but you're saying because of the disaster,
people don't need to worry about that, right, just file
it and get your help.
Speaker 6 (36:22):
Correct. Yeah, and a lot of people too, when whatever,
you call the insurance company and you start that process
to file a claim. Even if you're like, hey, you
know what, I'm going to go ahead and fix this
on my own, that's I don't want to file the
claim right when you called. That's that's a claim that's
on your name. So you know, I have one client
who's buying a home and he had three or four
claims that were there and he's like, yeah, but I
(36:43):
fixed everything myself. And how these insurance companies view you
is they view you as a bad risk for anything
that happens. If it's little, if it's small, if it's big,
you're going to call the insurance company to file a claim.
You're going to try to get the claim right away.
So you're saying everything.
Speaker 7 (36:56):
So I mean, if you think maybe you'll fix it yourself,
don't even they're calling the insurance company to talk it over.
Speaker 6 (37:03):
Correct. So that's why it's important to call your agent,
not the insurance company agent. First.
Speaker 2 (37:10):
Hey, Nick, by the way, what's your before we cut
you off, what's your contact info? Somebody wants to get
in touch you with. What's the best way to do it?
Speaker 6 (37:18):
Yeah, so you're gonna Nick n I C K at
HERB and Young E R B A N D y
O U N G Nick at erband young dot com.
That's gonna be the best way to get everything. I
work really well with email. But then you can also, uh,
you can also call me at seven two seven two
(37:38):
five zero zero two two five and then my extension
is one zero zero three. And yeah, love love to
help out answer any questions too, for anyone anyone listening.
And uh, yeah, that's what having a good insurance agent
is important. And it's funny. It's you know, through through
a home buying process, you know, you have your your realtor,
you have your lender, your title, you have your insurance
(38:00):
as we're the only person that has a lasting relationship
with that client after the deal is done. So that's
why it's important to brank and why you and I
kind of have been such good partners together is because
you know, you get a deal right away and you're like, Okay,
call Nick, because you know, you know you can trust us,
and that client will then trust us and kind of
hold their hand to the process and the whole full time.
(38:22):
They basically own that home.
Speaker 2 (38:23):
Yeah, and I got to give kudos to Rosa too,
because the last you've kept me on my toes over the.
Speaker 5 (38:28):
Last few days and then keeping you busy you have.
Speaker 2 (38:30):
Been and and but it is super important to pedestal
our partners, like Nick was saying, and to tell tell
the partners who they are and allow the people to
have trust because if they trust one of us, they're
going to trust us all. And we truly are all partners.
And Nick, we really appreciate what you've done. I know
you've been working overtime over there answering these questions. Uh So,
I want you guys to remember Nick at HERB and
Young e ERB and Young dot Com is the best
(38:54):
way to get them, and God forbid you forget. I'm
sure you can go to the real deal Tampa dot com,
or you can go to Contac Frank the Bank or
reverse Guru and you fill out the little form and
then I'll get you in touch with Nick and sell
little ladies and get your questions answered, But is there
anything else that that you need to hit? We have
a minute left.
Speaker 7 (39:10):
Here if you have a minute for Nick. I'm just
curious about the time frames right now. So if I
were to file a claim, you know, I haven't done one.
We got lucky, But what is that process looking like?
So they call you, you do actually have a legit claim
that they want to get moving on. How long to
get the adjuster out there? And how long is the
process normally before somebody gets their check?
Speaker 6 (39:31):
Yep, great question. So right after Milton's that's the hurricanes
split my mind. I can't believe it was so huge.
So Hurricane Milton, right after that, everyone was filing planes
and that was about a week for somebody an adjuster
to come out there. BEMA flood was a little bit longer,
obviously because they have you know, they're a national company,
so they have a they're on a larger scale, so
(39:52):
it was usually a week and then from there they
were promising an advancement check would take an out a
week after that, and then a final check would be
I think it was like two to three weeks after that.
So all in all, yeah, yeah, it's been all hands
(40:13):
on deck, and like everybody really knows that. So you know,
that's what they kind of prepare for in situations like
this like this. This area hasn't been hit with a hurricane,
what was it, thirty years and we just had two
back to back.
Speaker 2 (40:26):
So hey, so Nick, thank you for I hate to
cut you off. We got twenty seconds before they're literally
cutting us off of the air and they're going to
go to all these other exciting people like Hannity and
Limbaugh and things like that. Right here, that's right, he's dead. Sorry,
right here on iHeartRadio. Thank you everybody for listening, ladies, Thank.
Speaker 4 (40:43):
You so much, everyone for listening to it.
Speaker 3 (40:45):
Thank you, Nick, thank you so much. So you know,
doing a great job. It sounds like, so we appreciate you.
Speaker 2 (40:49):
Have a great week, everybody, Stay safe, Florida.