Episode Transcript
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Speaker 1 (00:01):
Welcome to the Business Happy Hour radio show with your host,
Frank Debankkodo, the owner of Lincoln Lending Group, right here
in Tampa Bay for twenty three years, joined by his
incredible co host, Senia Akishna, realtor with Mahara and Associates.
Speaker 2 (00:15):
Tampa's top real estate company.
Speaker 1 (00:17):
Together, they have helped finance and clothes nearly one billion
dollars of real estate every year.
Speaker 2 (00:23):
If you're looking for local mortgage or real estate advice.
Speaker 1 (00:25):
The Business Happy Hour team has been right here on
news radio WFLA for over a decade. Listen right here
or find us on the Business Happy Hour YouTube channel,
or follow us on Instagram at Frankdebankkodo. Now, sit back, relax,
and get ready for some serious mortgage, real estate and
business talk with two of Tampa's top experts.
Speaker 2 (00:44):
Here's Frank de Bank and Senia.
Speaker 3 (00:47):
Hey Tampa Bay, Welcome back to the Business Happy Hour,
your number one show for all things business and entrepreneurial.
I am your host, Frank the Bankkodo, owner of Lincoln
Lending Group and eight one three mortgage dot Com, right
here in the WFLA studio with my incredible.
Speaker 4 (01:03):
Co host, Sennia Akisha, how you doing, Senia?
Speaker 5 (01:05):
Hello, Hello, I'm happy to see you. Frank Oh how
are you?
Speaker 2 (01:10):
Yes?
Speaker 5 (01:10):
And I'm definitely happy that everybody's tuned into our show
excited for our guest today.
Speaker 4 (01:16):
I love it. I love it. And who is our
guest today? Sanya?
Speaker 5 (01:19):
Well, we've actually had him on before. It's been a
minute though, so I missed him. Like you know what,
we got to have mister Jeffrey Weaver back. Yes, he's
with Southern Risk Insurance Agency a gang. Yes, I've been
dying to, you know, ask all these questions post hurricanes.
So we are going to save all the best parts
for last after you know, we catch up with you too,
(01:40):
because you just got back from the Capitol.
Speaker 4 (01:43):
Oh my gosh, you right, and we haven't talked.
Speaker 5 (01:45):
So I'm all curious. You know how that what.
Speaker 3 (01:48):
I probably should have written that down in our show.
I did something really exciting last week, and I'm like
that guy who just keeps moving and I and I
forget what I do.
Speaker 4 (01:54):
So thank you for bringing that out.
Speaker 5 (01:55):
Well you left me hanging, so I remember.
Speaker 3 (01:58):
So if you guys, anyone listening or watching Instagram, see
the stress in Sinnia's voice and face.
Speaker 5 (02:05):
I'm sure they did.
Speaker 4 (02:06):
You did a great job.
Speaker 3 (02:07):
I was actually in a meeting in the House of
Representatives in the House Chamber when your notification for the
radio show came up and I had to like shut
it off for a second, and I'm like, oh, dang it,
I gotta watch what she's doing. And so I had
you like on in the corner, you know, and I'm
literally in the House chamber. It's funny, but yeah. So
first of all, Jeff, welcome.
Speaker 4 (02:24):
Back to the show.
Speaker 6 (02:25):
Thank you for having me.
Speaker 3 (02:26):
Yes, yes, And we are going to tease everybody. You're
not going to get to find everything out about insurance
until a little later in the show, so you're gonna
have to listen to Senny and I talk before you
actually get to meet Jeff again. But I promise it's
going to be a great show. We've got lots of questions.
I actually am doing acclaim myself with my insurance company,
so this is a great time to have Jeff on.
We're kind of discussing before the show some of my experience,
(02:48):
which I'm going to ask him as an uninterested third party,
if it's real or what's going on. So stay in
tune with that if you guys want to know anything
about insurance, you should join on the Instagram right now
or Facebook. But go to the Instagram because I'm watching
the comments. So if you have any comments about insurance
or any questions, put him in there, and Sydney and
I will do our best to watch him and we'll
(03:09):
try to ask Jeff while we're here on the show.
So what did I do with the Capitol? It was
a lot of fun. So I went to and by
the way, it's it's the State of Florida Capital. Because
of some people saw, yeah, I wasn't DC.
Speaker 5 (03:21):
I totally thought that's okay.
Speaker 3 (03:23):
Yeah, that's a lot of people. They're like, they're like, man,
you're in d C. I was like, no, no, I'm
not that cool. Like I'm kind of cool, but I'm
really not that cool. No, So I am, yeah, let'sten,
let's just go with it. I was with Trump. So
so I went to I had the honor to be
the a a government government affairs delegate representing basically the
(03:44):
Central Florida area for Florida Association and Mortgage Professionals FAM.
And there's only a handful of us across the state
who do it. And we go up to the Capitol
and we we have a lobbyist I think it's Sean
Cronin if I remember his name, and uh, and he
got gets us meetings with senators and people from the
House of Representatives to push you could say, our legislative agenda.
(04:07):
But it's all about real estate because it's about mortgages.
And so I'll tell everybody kind of what we were
doing because it is very exciting, very exciting for condos.
Actually two major things, but I'll start with this hometown hero.
So we met with twelve different senators and House of
Representatives people. We had a little happy hour at the
Governor's Club the night before and during that happy hour,
(04:27):
I'm standing there, I'm going to lose my mind on
who I was talking talking to Senator Bernie Jacques actually
who we had on the show, right, I'm sorry, House
of Representative Bernie Jock. And I'm telling him about trigger leads, Right, Jeff,
are you familiar with trigger leads and what that is?
Speaker 4 (04:42):
Okay? So good? I could to educate somebody, do you.
Speaker 3 (04:45):
Well, there you go, You and the other one hundred
thousand people listening now are going to learn about trigger leads.
Speaker 4 (04:49):
So here's what a trigger lead is. The damn.
Speaker 3 (04:54):
Equifax Experience and TransUnion, the three gestapo credit agencies in
the country, right, who have you not bully on us?
Because they're the only ones who control credit in our country.
They decided a few years ago that it would be
okay if they sold everyone's information every time they had
their mortgage, their credit ran for a mortgage, right, It's
called a trigger lead, meaning when we run their credit
(05:15):
on a hard credit poll, it triggers the agency because
they know they're providing us the data. They're like, oh,
this guy's shopping for a mortgage because it's a mortgage
company who ran it. Now, let me go sell this
data out to anybody who will freaking buy it. Right,
So what happens to the customer is the customer now
gets one hundred phone calls in the first twenty five
last few buyers.
Speaker 5 (05:36):
That's been their exact complaint. They're like, oh my god,
They're like, all of a sudden, my phone is just
blowing us.
Speaker 4 (05:41):
To the poll. Use your phone, okay. It is horrendous.
Speaker 3 (05:46):
So I'm standing there talking to Bernie and I'm talking
about how many times the people are getting these phone
calls and this senator I'm terrible. I can't remember her name,
but she walks by and she goes, are you talking
about trigger leads? And it was my job as the
delegate to educate them on trigger leads. I don't know
they knew what it was. And I said, yes, ma'am,
we're talking about triggerlys. She goes, can I join the conversation? Said,
come on in, So she shows me her phone. Her
(06:06):
sister had applied for a mortgage the day before, and
her sister got ninety four calls, not just texts, calls
ninety four that day. Send her sister, who's a senator,
a message and said, my god, is there anything you
can do about this in legislation because this should be illegal. Well,
the reason it's not illegal is because every single time
we've ever had our credit pulled anywhere, right, we have
(06:28):
opted in. We have nobody reads the crap that like,
you go buy a new TV and you opt in, Well,
guess what you just told them? They can listen to you, right,
same crap You have already opted in, so they legally
can sell your data and that's what they do. And
the calls don't stop, usually for almost thirty days they
tail her off, you know, because you're a hot lead, right,
you know, we all buy leads. You're a hot lead,
(06:49):
and then it kind of tailors off after a few days.
But it's to the point where our clients are say
to us, like, you know, what do we do? I said,
We'll save our numbers. Here's three phone numbers. If it's
not one of these, just don't answer. I hate to
tell you, don't answer if you don't know them. You know,
it's all I can get tell you. There's a way
to avoid it, right, how you avoid it in our company?
And what we would do for your clients and would
be we do a soft credit pull up front. We
(07:11):
run credit without doing a hard pull, so now we
can see what's on the credit without creating an inquiry,
which it doesn't create the trigger lead. And then there's
a website called opt out opt outprescreen dot com.
Speaker 4 (07:24):
Anybody can go to it.
Speaker 3 (07:25):
Anybody listening right now can go to opt outprescreen dot
com and you can opt yourself out forever you go
one time you enter your information on there. We do
it as a courtesy for all of our clients. So
our procedure is run soft credit, opt them out. Then
it takes three to five business days for the crap
to process. After that, you can run a hard credit
(07:46):
and they cannot call you. They will not get the
data to call you. It's the only way to fix
the problem. So what I did was I met with
the Senators with another solution. Sorry to get a little
boring here, but the section four ninety four of the
Florida Statutes says it. It is what governs the mortgage
industry and all of our licensed originators. So I implored
the Senators to change the statute, change the statue to
(08:09):
say that Florida originators cannot call trigger leads. We can
save Florida homeowners, can't. We can't fight Equifax TransUnion experience.
And that's the problem. That's why all legislation that has
been put in front gets squashed because think about it,
they run credit in America.
Speaker 4 (08:24):
Yan't going to beat them, Okay, So we.
Speaker 3 (08:26):
Can beat them by changing the regulation and stop it
for the state of Florida, and then we're hoping as
other states will follow suit. Eventually it'll make it up
to Washington and something happens.
Speaker 4 (08:34):
So that was my most exciting thing.
Speaker 3 (08:37):
We also asked for Hometown Heroes to extend their funding
from one hundred million to two hundred million, and every
single Senator that I met with signed on to that,
So that was wonderful. So I think there's a real
chance that the Budget Appropriation Committee is going to get
us double the money for Hometown Heroes, which is I
think it's like twenty five thousand for home buyers.
Speaker 5 (08:55):
That would be great. That money runs out quick, I
mean as soon as they announce that. I mean, everybody's
on it.
Speaker 3 (09:00):
The longest it has lasted is six weeks. The shortest
is three weeks. And that was our exact point to
the centers. I'm like, well, this is a great program
for one month.
Speaker 2 (09:08):
You know.
Speaker 3 (09:08):
I even came up with another idea. I said, well,
why can't you space the money out? Because I don't
think it's really fair if they release the money in April.
If you're buying in April, you got a chance. Everybody
else the rest of the year has no chance at
the money. So why can you not just put out
I don't know, fifty million a quarter, eh, genius, Right,
I'm a mathematician. And then the last thing, there's six
things we'll just go into one more thing.
Speaker 4 (09:28):
In its condos.
Speaker 3 (09:30):
Did you guys know that the state of Florida is
the only state out of fifty states that has this
requirement that if your condo that you live in doesn't
qualify for Fanny May standard, qualify financing because of like
the budget or the insurance, which Jeff, we should talk
about today. A lot of condos are underinsured and if
they don't meet Fanny May requirements, then they have what's
(09:52):
called a limited review loan process where you can put
down twenty five percent. So let's say you qualify for
three or five percent down, but you're condo doesn't have
the proper insurance or the product, proper budget, or proper reserves,
you have to put down twenty five percent in Florida.
Every other state is ten percent down, forty nine other
states is ten percent day.
Speaker 5 (10:12):
Why is it like that here?
Speaker 4 (10:13):
Because fair?
Speaker 3 (10:14):
We are being geographically discriminated, and you know, using that
word when I go in front of politicians.
Speaker 4 (10:19):
That works real well.
Speaker 3 (10:20):
I'm like, hey, guys, let's talk about discrimination. And they're
looking at this white boy like.
Speaker 4 (10:23):
What is he?
Speaker 3 (10:24):
I'm like, no, no, no, we're talking insurance discrimination. We're
talking Fanny made discrimination. So that really struck a nerve
with a lot of people. I didn't even know before
I met with the you know, the lobbyist. I didn't
realize we were the only state. I thought it was
some other states. Nope, Florida is the only one.
Speaker 5 (10:39):
Did that happen like after you know, the building collapsed
or has it always like that?
Speaker 3 (10:43):
It's like nineteen ninety one, ninety one. And the last
thing I'll mention, I cheatd and I's say one more
homestead exemptions. We're fifty thousand now. I do believe that
our efforts are going to get us one hundred thousand
homestead exemption, which has also been in place since nineteen
eighty nine. Right, we have barely raised them. I think
we were twenty five. We went to fifty. Come on, dude,
prices of homes have like quadrupled, and our homes take
(11:03):
exemption has not.
Speaker 4 (11:04):
So there's our entire first segment.
Speaker 5 (11:06):
That was very informative, though, thank you.
Speaker 4 (11:08):
Yeah, yeah, it's good stuff.
Speaker 3 (11:10):
So if you guys want more information, you can text
me directly or a message on here, and I'll tell
you guys what you can do to avoid these problems.
But the trigger leads I would encourage everyone listening to
go to opt outprescreen dot com. Right now, you don't
have to be doing a mortgage. You don't have to
have your credit pulled. It costs you nothing op yourself out,
so the next time you're ready to do a mortgage,
you don't have to worry about.
Speaker 5 (11:27):
What That is probably the most valuable thing I've gotten.
Speaker 4 (11:30):
Thank you in every radio show for everything.
Speaker 5 (11:32):
This is great. My buyers are gonna love it because
that is a big complaint I hear about.
Speaker 3 (11:37):
Yeah, it is the number one complaint. It ruins the
customer experience.
Speaker 4 (11:41):
It's it's very sad.
Speaker 3 (11:42):
So anyway, on that note, we're gonna take a break.
We're to come back, do some stats, and then we're
gonna dive right into insurance. You guys are gonna have
to wait too long, maybe a half another segment. You're
gonna start learning about some insurance things right here on
the Business Happy Hour with Sennia Akisha from Mahara and
Associates and yours truly, Frank the Bank Codo. Go find
me on Instagram and we'll be back in just a minute.
Speaker 1 (12:01):
All the best mortgage or real estate advice from Tampa
Bay's top experts. It's the Business Happy Hour with Frank,
Debenkoto and Senia.
Speaker 3 (12:10):
Hey, Tampa Bay, welcome back to the Business Happy Hour.
We hope you guys love our new format, our new intros,
our new rejoins, and please don't forget we are now
on three radio stations, not just nine to seventy WFLA,
which is our bread and butter. We've been here for
over ten years now. In the same time, we are
now on Saturday mornings bright and early five am on.
Speaker 4 (12:31):
Twelve fifty w hn Z. That's twelve fifty wh and
Z and we are FM guys.
Speaker 3 (12:37):
If you're an F that's right, James, let's throw the
applies FM. We are on one oh five point nine FM,
so check us out on your FM dollar. By the way,
I just heard something about them like new laws with
cars is they have to now put AM receivers.
Speaker 4 (12:51):
James, you know something about this. I saw you perk up.
Why are they fighting that? Like you don't want to
have AM radio? Are you serious?
Speaker 5 (13:03):
I love that guy.
Speaker 3 (13:05):
Okay, So James is saying for me to blame elon
Mosco on this, which if he's saving me on taxes,
I won't drive my Tesla off of a bridge. But
either way, they're fighting to putting the AM radio in cars.
Which funny you say that because I had to use
I have to use tune in to listen to nine
to seventy in the Tesla because there is no way.
Speaker 4 (13:25):
Does your car have AM? Yeah it does have Does
your car have AM radio?
Speaker 6 (13:29):
It does?
Speaker 4 (13:29):
So it's Elon.
Speaker 3 (13:31):
Elon is trying to take away my AM radio. I
found a workaround. So anyway, we're gonna get that fixed.
SIN stats, what's new? Anything pop up from January to January?
Speaker 5 (13:42):
Well, we still have the December but hopefully in next
week's episode, you know. But we like our December numbers,
so I don't can you.
Speaker 4 (13:50):
Of course I can't refreshment.
Speaker 3 (13:51):
I've got two events tonight i'm speaking at, so I
want to make sure I'm not lying when.
Speaker 5 (13:54):
I say absolutely.
Speaker 4 (13:56):
Yeah.
Speaker 5 (13:56):
Let's go through all three of our counties. So for
Hillsborough County, our closed sales were up by seventeen percent, Okay,
and that's year over year December and Panella's County, that's
the one you got really excited about. It was up
thirty three point two percent year over year, and Pasco
up fifteen percent for closed sales god Lee.
Speaker 4 (14:15):
And that's the number of sales December.
Speaker 5 (14:17):
To the number of sales, so yeah, kind of just
shows you know activity, And yeah we did say that,
hey post hurricanes, since we lost a little bit of time,
you know, market time, then maybe some of that is
you know, picking up from it. But anyway, we like
those numbers, so I.
Speaker 3 (14:29):
Think those are very strong. And now didn't the sales prices.
Speaker 5 (14:32):
Go up too? So for median sales price again year
over year, Hillsborough County we're still at four hundred and
twenty five thousand, Okay, it's down just a tad bit.
But Panella's was up nine and a half percent.
Speaker 4 (14:44):
Okay.
Speaker 5 (14:45):
Their median sales price for December is four hundred and
seventy seven thousand, five hundred, okay. And Pasco County was
down a little bit more than Hillsboro, but median sale
price still three.
Speaker 3 (14:55):
Eighty okay, okay, okay, three all right, so it wasn't
down my So it's really Penelos. I think that that
really surprised me because of the storms. Yes, you know,
like like you like sen was saying like maybe that
was inventory. That was kind of postponed because of our
lack of anything in October.
Speaker 4 (15:15):
But but the media.
Speaker 5 (15:16):
And sales price though, I mean, right, you know.
Speaker 3 (15:19):
The price before right, and everybody, I mean, you hearing
it out there, Jeff, people talking about our prices going down?
Speaker 4 (15:25):
Are you getting deals on the beach. I'm not seeing them,
not personally, No.
Speaker 3 (15:29):
No, I'm not. I just I'm not seeing deals. And
trust me, I'm looking right and I'm not. You know,
the deals I keep seeing advertised are tear down your
house and rebuild this the four story manages.
Speaker 5 (15:40):
Probably a lot of it, and I doubt any of
that makes to the MLS really, you know, it's probably
kind of the private deals that are happening where you know,
somebody does have too much damage that they're just you know,
well let me just cut my losses and.
Speaker 4 (15:51):
Yeah, just so just get out of there.
Speaker 3 (15:52):
But I don't know, I haven't seen a dry prices down.
But I can't wait to hear our January to January
because now when you get to January, now we're like
a quarter removed from that.
Speaker 5 (16:00):
So yeah, so well we'll see. But I mean, overall,
I mean, I think we're in a good market. You know,
there's nothing crazy happening or being like, oh my gosh,
that's crashing right, you know, going down the drain. We
don't see any signs of that. No, Actually I might talk.
I got a contract in South Tampa and I was
talking to that agent, you know, because when I'm working
with a buyer and say, hey, you know, prices are softening,
(16:21):
YadA YadA, trying to really get that deal, I'm not
seeing that.
Speaker 4 (16:25):
No.
Speaker 5 (16:26):
I tell my client, like, South Tampa is just the
market on its own, en. I mean, there there's always
demand for South Tampa exactly. There's urchins are not flooding
or not. They don't care what's going on on Bay Shore.
Speaker 3 (16:35):
I mean they can at burglar bars on their windows
in South Tampa and they still will sell. And they
every freaking rain it floods their neighborhood and they still buy.
Speaker 4 (16:44):
But that's okay. It's a great market.
Speaker 3 (16:46):
So anyway, our advice to you guys is by now
you're gonna call CINYA if you need some assistance at.
Speaker 5 (16:52):
Yes please eight one, three, seven, five five reel. And
last week I messed up the website because I was
so nervous without you. It's Tampa real Estate Dot pro.
Speaker 4 (17:02):
All right, Tampa real Estate dot pro. Very easy.
Speaker 3 (17:05):
Reach out to sen so she can find you the
house and when you need the mortgage, very easy. Just
go to contact frankdibank dot com. Probably the easiest thing
to do. Of course, my cell phone numbers all over
the Instagram page. I'd love it for you guys to
like us on Instagram Frank, thebank Codo or the business
Happy Hour.
Speaker 4 (17:20):
You can find Sinny on there.
Speaker 3 (17:21):
It's realtor send ks in on the Instagram. But please
reach out to us, guys. Don't forget we actually run
businesses and we are here to answer your questions. And
we do love getting paid for our services.
Speaker 5 (17:33):
Even does we just do for fun?
Speaker 4 (17:34):
We we we really do.
Speaker 3 (17:36):
We love bringing this in front of you guys and
having guests such as Jeff on So you know, I'm
going to forego the reverse mortgage stuff right now since
we talked all about the cool capital visit and everything.
But Jeff, I know we're going to probably talk about
some things maybe with some people that's some more experienced
people over sixty two, and maybe I'll bring it up
then when we talk about insurance for people like that. Definitely,
(17:58):
But Jeff, thank you for coming on the show. This
is Jeff Weaver, Southern Risk Agency. Jeff, are you allowed
to give out information on how to contact you?
Speaker 6 (18:06):
We are. Our phone number is three excuse me, eight
one three three three three nine eight eight seven. I'll
do it one more time really quick. Eight one three
three three three nine eight eight seven.
Speaker 3 (18:18):
That's actually an easy number. Did you guys pick that
because it's a pretty good one. Yeah, I get three
three three nine.
Speaker 4 (18:23):
Eight eight seven.
Speaker 6 (18:24):
That's easy. It just rolls off.
Speaker 3 (18:25):
And by the way, guys, as always, if if you
want to get in touch with the Jeff for any reason, uh,
just message Senny and I if you don't remember his
phone number, and just say I just need to talk
to that insurance guy. And then we're gonna get you
in front of the insurance guy and let him answer
the questions. Senny, I'll let you. I'll let you take
it away. You've created a really nice list of all
these questions.
Speaker 5 (18:45):
It's a big list, because you know what I mean,
we're a few months, you know now down the road
after you know, the big hurricanes. Obviously it was a
huge thing for us in Florida, and I mean, I'm
sure there's probably people that still have questions. And I
guess for me, I mean me, Frank, we were lucky
not to, you know, get too much damage. I know
you had a couple of little things that you're getting addressed,
(19:07):
but overall, what has been your biggest challenge with this? Actually,
I know you guys were super duper busy for like
the first prie wide.
Speaker 3 (19:16):
Hold on, I don't want to mess Jeff up. He's
got forty seconds. Oh start with something. Yeah, okay, well
I think it. When we get back from the break,
we're going to the biggest challenge. Okay, but now, why
don't we just give Jeff, jefflet's see a little more time.
How long you've been in the business, and let's give
your number again.
Speaker 6 (19:30):
Sure, so I've been in the business for over ten years. Again,
the phone number is eight one three three three three
nine eight eight seven. And we are happy to be done. Seriously,
we are happy to be done with the season. It
was exhaustingly so.
Speaker 3 (19:45):
By the way, when's the season officially over? What when
does it end?
Speaker 5 (19:48):
November?
Speaker 3 (19:49):
No?
Speaker 4 (19:49):
Remember?
Speaker 3 (19:49):
Right?
Speaker 6 (19:49):
Yes?
Speaker 3 (19:50):
Yeah, but we feel like it keeps going anyway, We'll
be back on the business happier in just a minute
with Jeff Weaver from Southern Risk Agency eight one three
three three three nine eight eight seven. We'll be back
in a second.
Speaker 1 (20:00):
Welcome to the Business Happy Hour radio show with your host,
Frank Debankkodo, the owner of Lincoln Lending Group right here
in Tampa Bay for twenty three years, joined by his
incredible co host, Senya Akishana, realtor with Mahara and Associates.
Speaker 2 (20:15):
Tampa's top real estate company.
Speaker 1 (20:17):
Together, they have helped finance and clothes nearly one billion
dollars of real estate every year.
Speaker 2 (20:23):
If you're looking for local mortgage or real.
Speaker 1 (20:25):
Estate advice, the Business Happy Hour team has been right
here on news radio WFLA for over a decade.
Speaker 2 (20:31):
Listen right here or fight us on the Business Happy
Hour YouTube channel.
Speaker 1 (20:34):
Or follow us on Instagram at Frank Debankkodo. Now, sit back, relax,
and get ready for some serious mortgage, real estate and
business talk with two of Tampa's top experts.
Speaker 2 (20:44):
Here's Frank de Bank and Senia.
Speaker 3 (20:47):
All right, Senya and Frank are back in the studio
nine to seventy WFLA. Don't forget, we're also on twelve
to fifty WHNZ And if you're an FM guy, you
got an FM tuner in your car, go to one
O five point nine and listen to us on Saturday mornings.
And if you forget about all this, you can find
us on the old podcast system on iHeartRadio.
Speaker 4 (21:07):
Our podcast are there.
Speaker 3 (21:09):
And guess what, guys, if you want to watch our videos, Senya,
we're on YouTube.
Speaker 4 (21:13):
I know we are on YouTube.
Speaker 5 (21:15):
They're surprised to see that and they go, oh my god, that's.
Speaker 4 (21:18):
Me, that's you. Every single show is on YouTube.
Speaker 3 (21:22):
And I'm also taking the shows, the awesome little edited shows,
not just our little insta thing here, and I'm putting
them on our Facebook as well, so you can find
us on the old YouTube and Facebook.
Speaker 4 (21:32):
You can listen, you can see us. Just check us
out and give us a call. We'll take care of
you on the mortgages in the real estate. Jeff we Sweever,
Southern Risk Agency Insurance Extraordinary Sennia has a book of
questions for you here.
Speaker 3 (21:48):
We're gonna get to some of these for sure, and
then I've got a couple for you, but I'm gonna
let send you restart that question.
Speaker 4 (21:53):
Here we go.
Speaker 5 (21:55):
So, yes, the hurricanes that we had, Yes, Yes, So
I mean at least as long as I've lived here.
That was, you know, the biggest storm, you know, back
to back storms, and I mean the closest we've seen.
You know, all those warnings because they happen every year,
it's like, oh my gosh, everybody freaks out, we stock up,
but I mean this time they're.
Speaker 4 (22:14):
Really it happened.
Speaker 5 (22:16):
It happened. So on the insurance standpoint, I know you
guys were bombarded with calls. You know, people probably frantic.
What was the biggest challenge dealing with this?
Speaker 6 (22:28):
Well, so first thing that I'll say if I can,
is I would advise that everyone have an agent and
not not not do this alone because insurance, first off,
is boring. You guys don't want to be doing insurance.
Get an agent, even if it costs a little bit
more money. Get an agent. I would say. The biggest thing,
(22:53):
or the thing that was most sad was people who
didn't have flood insurance. I don't know how many times
I heard we've never flooded before, renters in the game.
Now flooded. People on Davis Island lost everything. So that
(23:13):
would be my first thing was, look look at some
flood insurance. Spend a couple hundred dollars a year, look
at your flood insurance.
Speaker 4 (23:20):
Because it's really cheap. Because that is.
Speaker 5 (23:23):
Usually that's been your guys as spiel when somebody calls
about insurance. I know that that is always part of
the insurance agent spiel, Hey get flood insurance even if
your lender doesn't require it. But I feel like people
obviously didn't, you know, heed that advice, and a lot
of people didn't have the flood insurance.
Speaker 6 (23:39):
Well, something that I say is, you know, when someone
has a claim, they don't call in and say, hey,
how much is my policy? Right, I get a call
and say do I have the coverage? So spend the
extra money, spend the extra time, get an agent and
understand a what you're covered for, and be get a flood.
Speaker 3 (24:00):
Now I've got an interesting question on that. Maybe there's
a rule of thumb, maybe there's not, But what elevation
would you recommend that someone get flood insurance? You know,
because I know there's like obviously if you're if you're
required to have you required, but people who aren't required,
they can go look up their elevation, like I think
I'm at twenty five feet or something like that should
(24:23):
I have it.
Speaker 6 (24:24):
Well, so here's what I'll tell you, is we all
live in Florida, right, yeah? Is it a peninsula?
Speaker 3 (24:29):
Is that?
Speaker 6 (24:29):
Is that what Florida is?
Speaker 4 (24:30):
I think so?
Speaker 6 (24:31):
I mean yeah, so there's going to be a point
where we probably all don't outsmart mother nature. So no,
there's no rule of thumb. How it works right now
with an NFIP policy is each property is individually rated.
So yes, there's still technically quote unquote flood zones, but
each property pays their own rate based off of how
(24:54):
elevated you are. Got it right, So to your point
being twenty five feet, do it right? Just do it,
Spend the three hundred dollars and do it. Then it
doesn't matter, right, I mean, like the only time that
I would say not to do it is you know
you're in the fourth floor on a condo or something
like that in a high rise, right, yeah, yeah, we
have bigger problems of view floor, right because yeah, then
it's going to be dire. But you know, if you're
(25:14):
in a single family residence and you're living somewhere in Tampa,
Panella's Pasco, get your flood policy.
Speaker 3 (25:21):
Interesting answer, Yeah, so you're basically saying listen, dude's three
hundred dollars do it because there's other things if I understand,
that are covered, like like it just it's just water itself.
It doesn't have to be like the ocean rising to
get to your.
Speaker 6 (25:33):
House to use your flood policy, right, it's any kind
of rising water. So an easy way to think of
this is on your home insurance policy. What's going to
be covered is if the water is coming from the top,
right example, right, roof gets torn off, window broken. What
the flood policy covers is from the bottom up right.
So you know you were talking about South Tampa earlier.
(25:55):
I know that there was like four days last year
where people just got flooded driving home on like a Wednesday, right,
flood claim flood policy? Interesting?
Speaker 4 (26:04):
Okay, all right, so that's good.
Speaker 5 (26:07):
So I guess for people, you know, because most of
us don't really look into insurance or know the difference. Hey,
I have homeowner's insurance, so I mean we know that
flood policy is separate. How do like the other coverages work?
Is there other coverage that you can get, like what's wind?
And I don't know storm damage?
Speaker 6 (26:25):
So on the flood, the most you're going to get
on an NFIP, which is a FEMA policy, is going
to be two hundred and fifty thousand for your structure,
and the most you're going to get for your contents
is one hundred thousand. So the max the policy would
pay out is that three fifty minus you're deductible.
Speaker 5 (26:39):
That's across the board.
Speaker 6 (26:40):
That right. You could purchase extra flood insurance. That's a
whole other topic if that's worth it or not, but
at minimum, do the NFIP policy and then in regards
to other coverages. The other thing I think we were
dealing with is, you know, there wasn't a lot of
claims that paid out like actually, as of today, I
would say the inspearance is in a better spot than
(27:01):
when I saw you guys last time as far as
me being able to write policies.
Speaker 4 (27:04):
Really, yeah, why is that? Well?
Speaker 6 (27:07):
So I would say there's some legislative stuff going on,
But I would say, so if you think about this too,
most damage, not all, but most damage sustained is not
going to meet that hurricane hurricane deductible threshold, right right,
So most people, so let's talk about that. Most people,
The majority of folks have a two percent hurricane deductible. Frank,
(27:28):
we were talking about this before the show. But if you're
ensuring your home for five hundred thousand, it's two percent
off of that five hundred thousand. So most folks, unless
you had a pretty substantial loss, did not reach that
and you're probably fixing that kind of stuff out of pocket.
Speaker 3 (27:43):
Yeah, that's ten thousand bucks on your five hundred thousand
dollars Posli And my mind was like fifteen thousand dollars.
And that was actually the call that I made to
the insurance after the first inspection when I made a
little claim, And that's exactly what the lady said. She goes,
you know, I don't think you have enough damage to
absorb your deductibles. I mean it basically says, go fix
it yourself. Very interesting, Now, why why is the hurricane
(28:06):
deductible so much higher? Is there a reason for that.
Speaker 6 (28:08):
I think that it's always been like that, and I
think what that does is deter on a natural disaster
level that we're not seeing these massive amount of claims. Right,
we saw more losses, at least at my agency. We
saw more losses for the first one, Helene, which didn't
even hit our area, right, but it was those flood
(28:29):
losses because of the rising tidal waters on the Milton
side of things, I would say that was a low
claim submission re at least at my agency.
Speaker 4 (28:37):
Very interesting. Now, how about this question. I'm gonna let
you get to your sheet in a minute.
Speaker 3 (28:46):
Is is it true that if you file a claim
after a storm and it gets denied or whatever, you
drop it, it doesn't count against you, it doesn't hurt you.
Speaker 6 (28:57):
So back to my first point is get an agent. Okay.
Reason being is any time that you bypassed, or if
you don't work with an agent and you work directly
with a carrier, if you call to ask a question,
that is that is going most of the time, it
is going to go on your file and it's probably
going to stick with you for five years. Okay, to
(29:21):
your point, catastrophic claims should not go against you. So yes,
it is true by the book, by book. By the book,
you're on the right track. I will tell you I
was rating a home yesterday, had a great rate for
the for this client got to the end to go
ahead and submit the policy, and the policy was declined
(29:43):
by a carrier because of one of these storm damages.
Really Yeah.
Speaker 3 (29:49):
See, I thought they weren't allowed to decline you for that,
but I guess I can do what the heck they want.
Speaker 4 (29:52):
Huh.
Speaker 6 (29:52):
Sure, wow, So by the book and that is the
book answer that I give my clients, and also too,
if you need to file a hurricane claim, file the
claim right, Like if you're in a spot to where,
don't worry about how it's file your claim right right?
Speaker 3 (30:07):
I mean that's what that's what it's there for. That's
why you're paid it is. You might as well use it,
all right, Sandy?
Speaker 4 (30:12):
Well, question number four, I.
Speaker 5 (30:13):
Don't know too much about insurance and that's why I
do most people know that, like hurricane claim is different
than your homeowners I mean, I know my homeowner is aductible,
and I would think, hey, you know, if I've got damage,
this is my deductible. You know I have at least
that much. So do most people know that, you know,
needs to be that two percent threshold like where some
(30:35):
people surprise calling in like oh what like I didn't
know that, and sure they were totally blindsided because now
they have to come out of you know pocket.
Speaker 6 (30:42):
Well, I would say most are not right, and there's
things that take place right, homes have to get closed on,
and we're trying to deal with other things DTI and
all these other right. Okay, so again I'll go back
to get an agent. Review your policy, see annually. Okay,
find out what you have at the end of the day.
(31:04):
I would love for everyone to have great coverages, but
it is your policy. At the end of the day.
Your agent should be reviewing these with you. If they're
not proactively review them with your agent, that's what you're
paying that person to do. So I would like to
think that the majority of my clients listen to me, right,
I mean, I'm not that exciting, but I would like
(31:25):
to think that they do listen to me, and that
they do know that they have a higher deductible for
hurricanes name storms by the way.
Speaker 5 (31:31):
Okay, the ones that inquire. But it sounds like your
advice then is that when your top advice. Hey, every year,
you know, got the phone with your agent, go over
your policies and okay.
Speaker 3 (31:42):
So I want to make a comment to something you
said earlier getting an agent. I would I've never known
not getting an agent, and I maybe that's just because
I'm in the industry, but guys, I think that's great advice.
You need an advocate, and I don't think it costs
a lot more money. I think you save more money
because of what what how are they're gonna help you? Anyway,
We're gonna take a break on the Business Happy Hour.
We got a hard stop back in just a minute
(32:04):
from Jeff with Jeff Weaver Weaver from Southern Risk Agency.
Speaker 1 (32:08):
Let's get back to the Business Happy Hour radio show
with your host Frank the bank Kodo, owner of Lincoln Lending.
Speaker 2 (32:14):
Group, and his co host Sennia Akishna realtor with Mahara
and Associates.
Speaker 3 (32:19):
Guys, welcome back to the Business Happy Hour with Sinya
Akisha from Mahara and Associates. Ray Mahara runs an amazing
team over there, and man, we are working together every day.
We just put a contract in actually last night we
had one approved and.
Speaker 4 (32:34):
It was phenomenal.
Speaker 3 (32:35):
H So, if you guys need a great real estate agent,
I know you're going to call Sinia at.
Speaker 5 (32:40):
Eight one three seven five five real or they can go.
Speaker 3 (32:43):
To the website uh Tampa real Estate dot pro.
Speaker 4 (32:49):
To have a real estate dot pro.
Speaker 3 (32:50):
Guys, always contact Frankdbank dot com or you can find
me on Instagram and just text me directly. We'll get
you taken care of on a mortgage. We have the
pleasure of having Jeff Weaver from Southern Risk Agency in studio.
We were talking about getting an agent right before I
got rushed out of that quick break, And guys, I listen,
like Jeff said in the break, He's like, well, I
wouldn't buy a house without somebody representing me. Why would
(33:11):
you ensure the most expensive asset of your life and
just do it on your own. You just call a
freaking eight hundred number and me'll go give me an insurance. No,
you need an agent. It doesn't cost more. I'm with Heritage.
Jeff sells to Heritage, and he just made a point
to me. He goes, it's the same price. He goes, You, Frank,
you can call Heritage or you can call me. Well,
if I call Heritage, I don't have anybody to talk to.
I don't even know what to do. But Jeff's the
(33:32):
guy I'm gonna call and say, hey, man, listen, this
my toilet just overflowed, and didn't this and this?
Speaker 4 (33:37):
What do you think? Right?
Speaker 3 (33:39):
Instead of me going on record, that's right, like you said,
that's right because we don't go on record when we
call Jeff.
Speaker 4 (33:44):
Never go on record unless you're on the business happier.
Speaker 3 (33:47):
So, by the way, you can find Jeff at eight
one three three three three nine eight eight seven.
Speaker 4 (33:51):
Very easy.
Speaker 3 (33:52):
It's three three three nine eight eight seven. If you
have any insurance questions or reach out to Senia and
I will get you in touch. We've got a whole
segment here has got fifteen pages of questions, so we
got to hit you with another another one.
Speaker 1 (34:03):
Here you go.
Speaker 5 (34:04):
Oh, I'm tried to thank you other so many it's overwhelming.
One of my questions is is there I'm sure there is,
but what is the time limit to file a claim
that's hurricane related? Sam are procrastinator and it's like, oh man,
I've just been dealing, you know, with the repairs, Like
is there a time frame?
Speaker 6 (34:21):
There is? It is a very long time frame, and
this was recently just changed, so double and triple check
me on this out there in the interwebs. But it
was two years, and I think with some new legislation
over the last couple of years that has now been
taken down to one year.
Speaker 5 (34:36):
But still but still, I mean, that's actually that's longer
than I would think.
Speaker 4 (34:39):
I mean, if you don't file a claim and it's
been a year, shame on you.
Speaker 5 (34:44):
I mean, no, year seems plenty long enough, even for procrastinators.
Speaker 4 (34:48):
Like a year.
Speaker 3 (34:49):
I mean, come on, dude, something's broken in your house,
you're gonna just look at it for a year.
Speaker 4 (34:53):
There's a lot of people listening, say that's a good one.
What else? What other ones you got?
Speaker 5 (34:58):
Oh, let's see. Well, I mean, I guess maybe a
big question on everyone's mind, especially if you're in the
real estate industry, what do you think the repercussions will
be on the insurance industry? Are we going to see
big rate hikes? I mean any changes you foresee on
how flood insurance works.
Speaker 6 (35:22):
No, No to the rate increases just because yeah, because
I don't see a huge payout on the insurance side
of things. Actually, yesterday I saw a couple of policies
for the first time in a couple of years that
have actually gone down. Really what Lewich seriously hasn't happened
in probably over five years.
Speaker 4 (35:41):
That's amazing though it is.
Speaker 6 (35:43):
It is, And like I said, my market is better
than when I saw you guys last year. As far
as how I can help clients.
Speaker 3 (35:51):
Jeff, Could that be due to some of the legislation
that they are opening up to more agencies and bringing
more agencies into the state, So maybe there's.
Speaker 6 (35:59):
Some more competent potentially yep.
Speaker 3 (36:01):
Yeah, which, by the way, is a great squirrel. Note
competition is not out there right now when you're looking
for a home over here with Sinny and Maharran Associates.
Speaker 4 (36:08):
But this sounds like a total commercial.
Speaker 3 (36:10):
The competition is less right now, and I am not
be asking you if you want to buy a house,
now is the time to do it because as soon
as these rates drop, and they will, you're going to
have competition. So just like Jeff said, competition lowers your
insurance rates, competition increases the price of your home.
Speaker 4 (36:26):
So by yours today, bye today before it's too late.
So that was a good one. The competition price is
coming down. Dang, that's awesome.
Speaker 5 (36:33):
Yes, I mean with flood insurance too, because I guess
you know my thought. Okay, if there's you know, been
such an issue or whatnot, are those.
Speaker 6 (36:40):
Potentially with the flood because that's going to be on
a federal level versus on a state level. So potentially, Yeah, potentially.
Speaker 5 (36:48):
To a point, not a huge hikes, right, they could
still bet it's affordable coverage. You're not required to have it,
but still should be affordable for most people to get there.
Speaker 6 (36:56):
Something I will tell you just a quick side note
if I can on. Yeah, I was able to help
a couple of clients this year. Flood really wants those
policies to be renewed, like maintained. So if you have
somebody buying your home from the seller that that flood
policy is a big asset as far as transferring that
to the new owner. I was able to save several
(37:19):
thousand dollars on a deal by the seller had the
flood policy and we were able to roll that in. Again,
I'll go back to my point. If you have an agent,
they'd be able to educate you on something like that.
Speaker 4 (37:28):
But that was out a FEMA flood policy, correct. So
what you're doing is.
Speaker 3 (37:32):
You're grandfathering them in under what the zone and the
rate and everything.
Speaker 6 (37:37):
Just on the policy, just on the policy.
Speaker 5 (37:39):
Put that buyer just you know, didn't call, They're like, oh,
you know, let me start fresh, then they would have
paid a lot more money that It is significant transferred.
Speaker 3 (37:46):
And that that's even if you don't have flood insurance
that's required.
Speaker 6 (37:50):
Correct.
Speaker 4 (37:50):
So sim that's a great marketability angle. That's even a
great social media post.
Speaker 3 (37:55):
Is you know that a house that has a good,
cheap flood policy is actually more valuable. There's like people
talking about assigning mortgages. I was talking in the bathroom
to somebody about that just now, about assignment of FAHA mortgages.
That is a pain in the ass a signing or
transferring flood that is.
Speaker 6 (38:11):
Not very easy, very easy.
Speaker 3 (38:13):
Okay, Wow, that's some good advice. But there's another one
on here. I wanted to ask. I'm gonna steal one
from you here. If somebody after a storm finds out
they don't have enough coverage to repair their house, what happens?
Speaker 6 (38:28):
Well, so you could go FEMA. Yeah, I would say.
If you've driven around the Tampa Bay area, you can
see what you're talking about with the blue tarps still
on some folks roof. So I mean, not a lot happens.
Speaker 4 (38:42):
So you can go to FEMA.
Speaker 3 (38:43):
If your regular insurance doesn't cover, you can be like,
all right, I need your help, FEMA.
Speaker 6 (38:47):
You can potentially I think the max I looked it
up this morning. It was somewhere on a ballpark of
forty thousand dollars that you may again, that's a that's
a big may. Yeah, that you may be eligible for it.
Speaker 5 (38:59):
Parl, Like FEMA said, since that's why people do that.
So they call you first, you guys, discuss that there's
not enough coverage, and then that's their second correct avenue.
Speaker 3 (39:07):
Okay, so we got a minute left. What do we
want to leave the listeners with besides your phone number again?
Anything anything exciting.
Speaker 5 (39:14):
And a phone number again?
Speaker 4 (39:14):
But wow, this one quick I did.
Speaker 3 (39:16):
It went super fast. Well, we're having a lot of fun.
You can find Jeff at eight one three three three
three nine eight eight seven. That's three three three nine
eight eight seven and he does all kinds of insurance.
I was going to open up something on renters insurance.
We don't have a lot of time, but I do.
I know Jeff would agree with this. If you are
a renter, get the insurance. It's less than fifteen dollars
a month.
Speaker 4 (39:35):
Oh my god.
Speaker 6 (39:36):
Also, look into the flood. Don't be like those folks
on Davis Island, specially especially if you're on the first
floor and review your policies with your agent annually.
Speaker 3 (39:45):
Boom, and I'm going to leave you with some advice.
Get an agent. Get a freaking agent for real estate,
for insurance.
Speaker 4 (39:52):
And for mortgage. For Pete's sake, get an agent.
Speaker 3 (39:54):
Guys like and share watch the business Happy Hour, Jeff,
thank you for coming.
Speaker 5 (39:59):
Yeah, it takes some mind.
Speaker 6 (40:00):
Thank you so much.
Speaker 3 (40:00):
It was absolutely awesome. Guys, we'll see you next week.
We've got another great guest. I'll keep it a surprise.
Stay tuned. We'll see you when we get on air
next week.
Speaker 4 (40:07):
Have a good weekend.
Welcome to the Business Happy Hour radio show with your host,
Frank Debankkodo, the owner of Lincoln Lending Group, right here
in Tampa Bay for twenty three years, joined by his
incredible co host, Senia Akishna, realtor with Mahara and Associates.
Speaker 2 (00:15):
Tampa's top real estate company.
Speaker 1 (00:17):
Together, they have helped finance and clothes nearly one billion
dollars of real estate every year.
Speaker 2 (00:23):
If you're looking for local mortgage or real estate advice.
Speaker 1 (00:25):
The Business Happy Hour team has been right here on
news radio WFLA for over a decade. Listen right here
or find us on the Business Happy Hour YouTube channel,
or follow us on Instagram at Frankdebankkodo. Now, sit back, relax,
and get ready for some serious mortgage, real estate and
business talk with two of Tampa's top experts.
Speaker 2 (00:44):
Here's Frank de Bank and Senia.
Speaker 3 (00:47):
Hey Tampa Bay, Welcome back to the Business Happy Hour,
your number one show for all things business and entrepreneurial.
I am your host, Frank the Bankkodo, owner of Lincoln
Lending Group and eight one three mortgage dot Com, right
here in the WFLA studio with my incredible.
Speaker 4 (01:03):
Co host, Sennia Akisha, how you doing, Senia?
Speaker 5 (01:05):
Hello, Hello, I'm happy to see you. Frank Oh how
are you?
Speaker 2 (01:10):
Yes?
Speaker 5 (01:10):
And I'm definitely happy that everybody's tuned into our show
excited for our guest today.
Speaker 4 (01:16):
I love it. I love it. And who is our
guest today? Sanya?
Speaker 5 (01:19):
Well, we've actually had him on before. It's been a
minute though, so I missed him. Like you know what,
we got to have mister Jeffrey Weaver back. Yes, he's
with Southern Risk Insurance Agency a gang. Yes, I've been
dying to, you know, ask all these questions post hurricanes.
So we are going to save all the best parts
for last after you know, we catch up with you too,
(01:40):
because you just got back from the Capitol.
Speaker 4 (01:43):
Oh my gosh, you right, and we haven't talked.
Speaker 5 (01:45):
So I'm all curious. You know how that what.
Speaker 3 (01:48):
I probably should have written that down in our show.
I did something really exciting last week, and I'm like
that guy who just keeps moving and I and I
forget what I do.
Speaker 4 (01:54):
So thank you for bringing that out.
Speaker 5 (01:55):
Well you left me hanging, so I remember.
Speaker 3 (01:58):
So if you guys, anyone listening or watching Instagram, see
the stress in Sinnia's voice and face.
Speaker 5 (02:05):
I'm sure they did.
Speaker 4 (02:06):
You did a great job.
Speaker 3 (02:07):
I was actually in a meeting in the House of
Representatives in the House Chamber when your notification for the
radio show came up and I had to like shut
it off for a second, and I'm like, oh, dang it,
I gotta watch what she's doing. And so I had
you like on in the corner, you know, and I'm
literally in the House chamber. It's funny, but yeah. So
first of all, Jeff, welcome.
Speaker 4 (02:24):
Back to the show.
Speaker 6 (02:25):
Thank you for having me.
Speaker 3 (02:26):
Yes, yes, And we are going to tease everybody. You're
not going to get to find everything out about insurance
until a little later in the show, so you're gonna
have to listen to Senny and I talk before you
actually get to meet Jeff again. But I promise it's
going to be a great show. We've got lots of questions.
I actually am doing acclaim myself with my insurance company,
so this is a great time to have Jeff on.
We're kind of discussing before the show some of my experience,
(02:48):
which I'm going to ask him as an uninterested third party,
if it's real or what's going on. So stay in
tune with that if you guys want to know anything
about insurance, you should join on the Instagram right now
or Facebook. But go to the Instagram because I'm watching
the comments. So if you have any comments about insurance
or any questions, put him in there, and Sydney and
I will do our best to watch him and we'll
(03:09):
try to ask Jeff while we're here on the show.
So what did I do with the Capitol? It was
a lot of fun. So I went to and by
the way, it's it's the State of Florida Capital. Because
of some people saw, yeah, I wasn't DC.
Speaker 5 (03:21):
I totally thought that's okay.
Speaker 3 (03:23):
Yeah, that's a lot of people. They're like, they're like, man,
you're in d C. I was like, no, no, I'm
not that cool. Like I'm kind of cool, but I'm
really not that cool. No, So I am, yeah, let'sten,
let's just go with it. I was with Trump. So
so I went to I had the honor to be
the a a government government affairs delegate representing basically the
(03:44):
Central Florida area for Florida Association and Mortgage Professionals FAM.
And there's only a handful of us across the state
who do it. And we go up to the Capitol
and we we have a lobbyist I think it's Sean
Cronin if I remember his name, and uh, and he
got gets us meetings with senators and people from the
House of Representatives to push you could say, our legislative agenda.
(04:07):
But it's all about real estate because it's about mortgages.
And so I'll tell everybody kind of what we were
doing because it is very exciting, very exciting for condos.
Actually two major things, but I'll start with this hometown hero.
So we met with twelve different senators and House of
Representatives people. We had a little happy hour at the
Governor's Club the night before and during that happy hour,
(04:27):
I'm standing there, I'm going to lose my mind on
who I was talking talking to Senator Bernie Jacques actually
who we had on the show, right, I'm sorry, House
of Representative Bernie Jock. And I'm telling him about trigger leads, Right, Jeff,
are you familiar with trigger leads and what that is?
Speaker 4 (04:42):
Okay? So good? I could to educate somebody, do you.
Speaker 3 (04:45):
Well, there you go, You and the other one hundred
thousand people listening now are going to learn about trigger leads.
Speaker 4 (04:49):
So here's what a trigger lead is. The damn.
Speaker 3 (04:54):
Equifax Experience and TransUnion, the three gestapo credit agencies in
the country, right, who have you not bully on us?
Because they're the only ones who control credit in our country.
They decided a few years ago that it would be
okay if they sold everyone's information every time they had
their mortgage, their credit ran for a mortgage, right, It's
called a trigger lead, meaning when we run their credit
(05:15):
on a hard credit poll, it triggers the agency because
they know they're providing us the data. They're like, oh,
this guy's shopping for a mortgage because it's a mortgage
company who ran it. Now, let me go sell this
data out to anybody who will freaking buy it. Right,
So what happens to the customer is the customer now
gets one hundred phone calls in the first twenty five
last few buyers.
Speaker 5 (05:36):
That's been their exact complaint. They're like, oh my god,
They're like, all of a sudden, my phone is just
blowing us.
Speaker 4 (05:41):
To the poll. Use your phone, okay. It is horrendous.
Speaker 3 (05:46):
So I'm standing there talking to Bernie and I'm talking
about how many times the people are getting these phone
calls and this senator I'm terrible. I can't remember her name,
but she walks by and she goes, are you talking
about trigger leads? And it was my job as the
delegate to educate them on trigger leads. I don't know
they knew what it was. And I said, yes, ma'am,
we're talking about triggerlys. She goes, can I join the conversation? Said,
come on in, So she shows me her phone. Her
(06:06):
sister had applied for a mortgage the day before, and
her sister got ninety four calls, not just texts, calls
ninety four that day. Send her sister, who's a senator,
a message and said, my god, is there anything you
can do about this in legislation because this should be illegal. Well,
the reason it's not illegal is because every single time
we've ever had our credit pulled anywhere, right, we have
(06:28):
opted in. We have nobody reads the crap that like,
you go buy a new TV and you opt in, Well,
guess what you just told them? They can listen to you, right,
same crap You have already opted in, so they legally
can sell your data and that's what they do. And
the calls don't stop, usually for almost thirty days they
tail her off, you know, because you're a hot lead, right,
you know, we all buy leads. You're a hot lead,
(06:49):
and then it kind of tailors off after a few days.
But it's to the point where our clients are say
to us, like, you know, what do we do? I said,
We'll save our numbers. Here's three phone numbers. If it's
not one of these, just don't answer. I hate to
tell you, don't answer if you don't know them. You know,
it's all I can get tell you. There's a way
to avoid it, right, how you avoid it in our company?
And what we would do for your clients and would
be we do a soft credit pull up front. We
(07:11):
run credit without doing a hard pull, so now we
can see what's on the credit without creating an inquiry,
which it doesn't create the trigger lead. And then there's
a website called opt out opt outprescreen dot com.
Speaker 4 (07:24):
Anybody can go to it.
Speaker 3 (07:25):
Anybody listening right now can go to opt outprescreen dot
com and you can opt yourself out forever you go
one time you enter your information on there. We do
it as a courtesy for all of our clients. So
our procedure is run soft credit, opt them out. Then
it takes three to five business days for the crap
to process. After that, you can run a hard credit
(07:46):
and they cannot call you. They will not get the
data to call you. It's the only way to fix
the problem. So what I did was I met with
the Senators with another solution. Sorry to get a little
boring here, but the section four ninety four of the
Florida Statutes says it. It is what governs the mortgage
industry and all of our licensed originators. So I implored
the Senators to change the statute, change the statue to
(08:09):
say that Florida originators cannot call trigger leads. We can
save Florida homeowners, can't. We can't fight Equifax TransUnion experience.
And that's the problem. That's why all legislation that has
been put in front gets squashed because think about it,
they run credit in America.
Speaker 4 (08:24):
Yan't going to beat them, Okay, So we.
Speaker 3 (08:26):
Can beat them by changing the regulation and stop it
for the state of Florida, and then we're hoping as
other states will follow suit. Eventually it'll make it up
to Washington and something happens.
Speaker 4 (08:34):
So that was my most exciting thing.
Speaker 3 (08:37):
We also asked for Hometown Heroes to extend their funding
from one hundred million to two hundred million, and every
single Senator that I met with signed on to that,
So that was wonderful. So I think there's a real
chance that the Budget Appropriation Committee is going to get
us double the money for Hometown Heroes, which is I
think it's like twenty five thousand for home buyers.
Speaker 5 (08:55):
That would be great. That money runs out quick, I
mean as soon as they announce that. I mean, everybody's
on it.
Speaker 3 (09:00):
The longest it has lasted is six weeks. The shortest
is three weeks. And that was our exact point to
the centers. I'm like, well, this is a great program
for one month.
Speaker 2 (09:08):
You know.
Speaker 3 (09:08):
I even came up with another idea. I said, well,
why can't you space the money out? Because I don't
think it's really fair if they release the money in April.
If you're buying in April, you got a chance. Everybody
else the rest of the year has no chance at
the money. So why can you not just put out
I don't know, fifty million a quarter, eh, genius, Right,
I'm a mathematician. And then the last thing, there's six
things we'll just go into one more thing.
Speaker 4 (09:28):
In its condos.
Speaker 3 (09:30):
Did you guys know that the state of Florida is
the only state out of fifty states that has this
requirement that if your condo that you live in doesn't
qualify for Fanny May standard, qualify financing because of like
the budget or the insurance, which Jeff, we should talk
about today. A lot of condos are underinsured and if
they don't meet Fanny May requirements, then they have what's
(09:52):
called a limited review loan process where you can put
down twenty five percent. So let's say you qualify for
three or five percent down, but you're condo doesn't have
the proper insurance or the product, proper budget, or proper reserves,
you have to put down twenty five percent in Florida.
Every other state is ten percent down, forty nine other
states is ten percent day.
Speaker 5 (10:12):
Why is it like that here?
Speaker 4 (10:13):
Because fair?
Speaker 3 (10:14):
We are being geographically discriminated, and you know, using that
word when I go in front of politicians.
Speaker 4 (10:19):
That works real well.
Speaker 3 (10:20):
I'm like, hey, guys, let's talk about discrimination. And they're
looking at this white boy like.
Speaker 4 (10:23):
What is he?
Speaker 3 (10:24):
I'm like, no, no, no, we're talking insurance discrimination. We're
talking Fanny made discrimination. So that really struck a nerve
with a lot of people. I didn't even know before
I met with the you know, the lobbyist. I didn't
realize we were the only state. I thought it was
some other states. Nope, Florida is the only one.
Speaker 5 (10:39):
Did that happen like after you know, the building collapsed
or has it always like that?
Speaker 3 (10:43):
It's like nineteen ninety one, ninety one. And the last
thing I'll mention, I cheatd and I's say one more
homestead exemptions. We're fifty thousand now. I do believe that
our efforts are going to get us one hundred thousand
homestead exemption, which has also been in place since nineteen
eighty nine. Right, we have barely raised them. I think
we were twenty five. We went to fifty. Come on, dude,
prices of homes have like quadrupled, and our homes take
(11:03):
exemption has not.
Speaker 4 (11:04):
So there's our entire first segment.
Speaker 5 (11:06):
That was very informative, though, thank you.
Speaker 4 (11:08):
Yeah, yeah, it's good stuff.
Speaker 3 (11:10):
So if you guys want more information, you can text
me directly or a message on here, and I'll tell
you guys what you can do to avoid these problems.
But the trigger leads I would encourage everyone listening to
go to opt outprescreen dot com. Right now, you don't
have to be doing a mortgage. You don't have to
have your credit pulled. It costs you nothing op yourself out,
so the next time you're ready to do a mortgage,
you don't have to worry about.
Speaker 5 (11:27):
What That is probably the most valuable thing I've gotten.
Speaker 4 (11:30):
Thank you in every radio show for everything.
Speaker 5 (11:32):
This is great. My buyers are gonna love it because
that is a big complaint I hear about.
Speaker 3 (11:37):
Yeah, it is the number one complaint. It ruins the
customer experience.
Speaker 4 (11:41):
It's it's very sad.
Speaker 3 (11:42):
So anyway, on that note, we're gonna take a break.
We're to come back, do some stats, and then we're
gonna dive right into insurance. You guys are gonna have
to wait too long, maybe a half another segment. You're
gonna start learning about some insurance things right here on
the Business Happy Hour with Sennia Akisha from Mahara and
Associates and yours truly, Frank the Bank Codo. Go find
me on Instagram and we'll be back in just a minute.
Speaker 1 (12:01):
All the best mortgage or real estate advice from Tampa
Bay's top experts. It's the Business Happy Hour with Frank,
Debenkoto and Senia.
Speaker 3 (12:10):
Hey, Tampa Bay, welcome back to the Business Happy Hour.
We hope you guys love our new format, our new intros,
our new rejoins, and please don't forget we are now
on three radio stations, not just nine to seventy WFLA,
which is our bread and butter. We've been here for
over ten years now. In the same time, we are
now on Saturday mornings bright and early five am on.
Speaker 4 (12:31):
Twelve fifty w hn Z. That's twelve fifty wh and
Z and we are FM guys.
Speaker 3 (12:37):
If you're an F that's right, James, let's throw the
applies FM. We are on one oh five point nine FM,
so check us out on your FM dollar. By the way,
I just heard something about them like new laws with
cars is they have to now put AM receivers.
Speaker 4 (12:51):
James, you know something about this. I saw you perk up.
Why are they fighting that? Like you don't want to
have AM radio? Are you serious?
Speaker 5 (13:03):
I love that guy.
Speaker 3 (13:05):
Okay, So James is saying for me to blame elon
Mosco on this, which if he's saving me on taxes,
I won't drive my Tesla off of a bridge. But
either way, they're fighting to putting the AM radio in cars.
Which funny you say that because I had to use
I have to use tune in to listen to nine
to seventy in the Tesla because there is no way.
Speaker 4 (13:25):
Does your car have AM? Yeah it does have Does
your car have AM radio?
Speaker 6 (13:29):
It does?
Speaker 4 (13:29):
So it's Elon.
Speaker 3 (13:31):
Elon is trying to take away my AM radio. I
found a workaround. So anyway, we're gonna get that fixed.
SIN stats, what's new? Anything pop up from January to January?
Speaker 5 (13:42):
Well, we still have the December but hopefully in next
week's episode, you know. But we like our December numbers,
so I don't can you.
Speaker 4 (13:50):
Of course I can't refreshment.
Speaker 3 (13:51):
I've got two events tonight i'm speaking at, so I
want to make sure I'm not lying when.
Speaker 5 (13:54):
I say absolutely.
Speaker 4 (13:56):
Yeah.
Speaker 5 (13:56):
Let's go through all three of our counties. So for
Hillsborough County, our closed sales were up by seventeen percent, Okay,
and that's year over year December and Panella's County, that's
the one you got really excited about. It was up
thirty three point two percent year over year, and Pasco
up fifteen percent for closed sales god Lee.
Speaker 4 (14:15):
And that's the number of sales December.
Speaker 5 (14:17):
To the number of sales, so yeah, kind of just
shows you know activity, And yeah we did say that,
hey post hurricanes, since we lost a little bit of time,
you know, market time, then maybe some of that is
you know, picking up from it. But anyway, we like
those numbers, so I.
Speaker 3 (14:29):
Think those are very strong. And now didn't the sales prices.
Speaker 5 (14:32):
Go up too? So for median sales price again year
over year, Hillsborough County we're still at four hundred and
twenty five thousand, Okay, it's down just a tad bit.
But Panella's was up nine and a half percent.
Speaker 4 (14:44):
Okay.
Speaker 5 (14:45):
Their median sales price for December is four hundred and
seventy seven thousand, five hundred, okay. And Pasco County was
down a little bit more than Hillsboro, but median sale
price still three.
Speaker 3 (14:55):
Eighty okay, okay, okay, three all right, so it wasn't
down my So it's really Penelos. I think that that
really surprised me because of the storms. Yes, you know,
like like you like sen was saying like maybe that
was inventory. That was kind of postponed because of our
lack of anything in October.
Speaker 4 (15:15):
But but the media.
Speaker 5 (15:16):
And sales price though, I mean, right, you know.
Speaker 3 (15:19):
The price before right, and everybody, I mean, you hearing
it out there, Jeff, people talking about our prices going down?
Speaker 4 (15:25):
Are you getting deals on the beach. I'm not seeing them,
not personally, No.
Speaker 3 (15:29):
No, I'm not. I just I'm not seeing deals. And
trust me, I'm looking right and I'm not. You know,
the deals I keep seeing advertised are tear down your
house and rebuild this the four story manages.
Speaker 5 (15:40):
Probably a lot of it, and I doubt any of
that makes to the MLS really, you know, it's probably
kind of the private deals that are happening where you know,
somebody does have too much damage that they're just you know,
well let me just cut my losses and.
Speaker 4 (15:51):
Yeah, just so just get out of there.
Speaker 3 (15:52):
But I don't know, I haven't seen a dry prices down.
But I can't wait to hear our January to January
because now when you get to January, now we're like
a quarter removed from that.
Speaker 5 (16:00):
So yeah, so well we'll see. But I mean, overall,
I mean, I think we're in a good market. You know,
there's nothing crazy happening or being like, oh my gosh,
that's crashing right, you know, going down the drain. We
don't see any signs of that. No, Actually I might talk.
I got a contract in South Tampa and I was
talking to that agent, you know, because when I'm working
with a buyer and say, hey, you know, prices are softening,
(16:21):
YadA YadA, trying to really get that deal, I'm not
seeing that.
Speaker 4 (16:25):
No.
Speaker 5 (16:26):
I tell my client, like, South Tampa is just the
market on its own, en. I mean, there there's always
demand for South Tampa exactly. There's urchins are not flooding
or not. They don't care what's going on on Bay Shore.
Speaker 3 (16:35):
I mean they can at burglar bars on their windows
in South Tampa and they still will sell. And they
every freaking rain it floods their neighborhood and they still buy.
Speaker 4 (16:44):
But that's okay. It's a great market.
Speaker 3 (16:46):
So anyway, our advice to you guys is by now
you're gonna call CINYA if you need some assistance at.
Speaker 5 (16:52):
Yes please eight one, three, seven, five five reel. And
last week I messed up the website because I was
so nervous without you. It's Tampa real Estate Dot pro.
Speaker 4 (17:02):
All right, Tampa real Estate dot pro. Very easy.
Speaker 3 (17:05):
Reach out to sen so she can find you the
house and when you need the mortgage, very easy. Just
go to contact frankdibank dot com. Probably the easiest thing
to do. Of course, my cell phone numbers all over
the Instagram page. I'd love it for you guys to
like us on Instagram Frank, thebank Codo or the business
Happy Hour.
Speaker 4 (17:20):
You can find Sinny on there.
Speaker 3 (17:21):
It's realtor send ks in on the Instagram. But please
reach out to us, guys. Don't forget we actually run
businesses and we are here to answer your questions. And
we do love getting paid for our services.
Speaker 5 (17:33):
Even does we just do for fun?
Speaker 4 (17:34):
We we we really do.
Speaker 3 (17:36):
We love bringing this in front of you guys and
having guests such as Jeff on So you know, I'm
going to forego the reverse mortgage stuff right now since
we talked all about the cool capital visit and everything.
But Jeff, I know we're going to probably talk about
some things maybe with some people that's some more experienced
people over sixty two, and maybe I'll bring it up
then when we talk about insurance for people like that. Definitely,
(17:58):
But Jeff, thank you for coming on the show. This
is Jeff Weaver, Southern Risk Agency. Jeff, are you allowed
to give out information on how to contact you?
Speaker 6 (18:06):
We are. Our phone number is three excuse me, eight
one three three three three nine eight eight seven. I'll
do it one more time really quick. Eight one three
three three three nine eight eight seven.
Speaker 3 (18:18):
That's actually an easy number. Did you guys pick that
because it's a pretty good one. Yeah, I get three
three three nine.
Speaker 4 (18:23):
Eight eight seven.
Speaker 6 (18:24):
That's easy. It just rolls off.
Speaker 3 (18:25):
And by the way, guys, as always, if if you
want to get in touch with the Jeff for any reason, uh,
just message Senny and I if you don't remember his
phone number, and just say I just need to talk
to that insurance guy. And then we're gonna get you
in front of the insurance guy and let him answer
the questions. Senny, I'll let you. I'll let you take
it away. You've created a really nice list of all
these questions.
Speaker 5 (18:45):
It's a big list, because you know what I mean,
we're a few months, you know now down the road
after you know, the big hurricanes. Obviously it was a
huge thing for us in Florida, and I mean, I'm
sure there's probably people that still have questions. And I
guess for me, I mean me, Frank, we were lucky
not to, you know, get too much damage. I know
you had a couple of little things that you're getting addressed,
(19:07):
but overall, what has been your biggest challenge with this? Actually,
I know you guys were super duper busy for like
the first prie wide.
Speaker 3 (19:16):
Hold on, I don't want to mess Jeff up. He's
got forty seconds. Oh start with something. Yeah, okay, well
I think it. When we get back from the break,
we're going to the biggest challenge. Okay, but now, why
don't we just give Jeff, jefflet's see a little more time.
How long you've been in the business, and let's give
your number again.
Speaker 6 (19:30):
Sure, so I've been in the business for over ten years. Again,
the phone number is eight one three three three three
nine eight eight seven. And we are happy to be done. Seriously,
we are happy to be done with the season. It
was exhaustingly so.
Speaker 3 (19:45):
By the way, when's the season officially over? What when
does it end?
Speaker 5 (19:48):
November?
Speaker 3 (19:49):
No?
Speaker 4 (19:49):
Remember?
Speaker 3 (19:49):
Right?
Speaker 6 (19:49):
Yes?
Speaker 3 (19:50):
Yeah, but we feel like it keeps going anyway, We'll
be back on the business happier in just a minute
with Jeff Weaver from Southern Risk Agency eight one three
three three three nine eight eight seven. We'll be back
in a second.
Speaker 1 (20:00):
Welcome to the Business Happy Hour radio show with your host,
Frank Debankkodo, the owner of Lincoln Lending Group right here
in Tampa Bay for twenty three years, joined by his
incredible co host, Senya Akishana, realtor with Mahara and Associates.
Speaker 2 (20:15):
Tampa's top real estate company.
Speaker 1 (20:17):
Together, they have helped finance and clothes nearly one billion
dollars of real estate every year.
Speaker 2 (20:23):
If you're looking for local mortgage or real.
Speaker 1 (20:25):
Estate advice, the Business Happy Hour team has been right
here on news radio WFLA for over a decade.
Speaker 2 (20:31):
Listen right here or fight us on the Business Happy
Hour YouTube channel.
Speaker 1 (20:34):
Or follow us on Instagram at Frank Debankkodo. Now, sit back, relax,
and get ready for some serious mortgage, real estate and
business talk with two of Tampa's top experts.
Speaker 2 (20:44):
Here's Frank de Bank and Senia.
Speaker 3 (20:47):
All right, Senya and Frank are back in the studio
nine to seventy WFLA. Don't forget, we're also on twelve
to fifty WHNZ And if you're an FM guy, you
got an FM tuner in your car, go to one
O five point nine and listen to us on Saturday mornings.
And if you forget about all this, you can find
us on the old podcast system on iHeartRadio.
Speaker 4 (21:07):
Our podcast are there.
Speaker 3 (21:09):
And guess what, guys, if you want to watch our videos, Senya,
we're on YouTube.
Speaker 4 (21:13):
I know we are on YouTube.
Speaker 5 (21:15):
They're surprised to see that and they go, oh my god, that's.
Speaker 4 (21:18):
Me, that's you. Every single show is on YouTube.
Speaker 3 (21:22):
And I'm also taking the shows, the awesome little edited shows,
not just our little insta thing here, and I'm putting
them on our Facebook as well, so you can find
us on the old YouTube and Facebook.
Speaker 4 (21:32):
You can listen, you can see us. Just check us
out and give us a call. We'll take care of
you on the mortgages in the real estate. Jeff we Sweever,
Southern Risk Agency Insurance Extraordinary Sennia has a book of
questions for you here.
Speaker 3 (21:48):
We're gonna get to some of these for sure, and
then I've got a couple for you, but I'm gonna
let send you restart that question.
Speaker 4 (21:53):
Here we go.
Speaker 5 (21:55):
So, yes, the hurricanes that we had, Yes, Yes, So
I mean at least as long as I've lived here.
That was, you know, the biggest storm, you know, back
to back storms, and I mean the closest we've seen.
You know, all those warnings because they happen every year,
it's like, oh my gosh, everybody freaks out, we stock up,
but I mean this time they're.
Speaker 4 (22:14):
Really it happened.
Speaker 5 (22:16):
It happened. So on the insurance standpoint, I know you
guys were bombarded with calls. You know, people probably frantic.
What was the biggest challenge dealing with this?
Speaker 6 (22:28):
Well, so first thing that I'll say if I can,
is I would advise that everyone have an agent and
not not not do this alone because insurance, first off,
is boring. You guys don't want to be doing insurance.
Get an agent, even if it costs a little bit
more money. Get an agent. I would say. The biggest thing,
(22:53):
or the thing that was most sad was people who
didn't have flood insurance. I don't know how many times
I heard we've never flooded before, renters in the game.
Now flooded. People on Davis Island lost everything. So that
(23:13):
would be my first thing was, look look at some
flood insurance. Spend a couple hundred dollars a year, look
at your flood insurance.
Speaker 4 (23:20):
Because it's really cheap. Because that is.
Speaker 5 (23:23):
Usually that's been your guys as spiel when somebody calls
about insurance. I know that that is always part of
the insurance agent spiel, Hey get flood insurance even if
your lender doesn't require it. But I feel like people
obviously didn't, you know, heed that advice, and a lot
of people didn't have the flood insurance.
Speaker 6 (23:39):
Well, something that I say is, you know, when someone
has a claim, they don't call in and say, hey,
how much is my policy? Right, I get a call
and say do I have the coverage? So spend the
extra money, spend the extra time, get an agent and
understand a what you're covered for, and be get a flood.
Speaker 3 (24:00):
Now I've got an interesting question on that. Maybe there's
a rule of thumb, maybe there's not, But what elevation
would you recommend that someone get flood insurance? You know,
because I know there's like obviously if you're if you're
required to have you required, but people who aren't required,
they can go look up their elevation, like I think
I'm at twenty five feet or something like that should
(24:23):
I have it.
Speaker 6 (24:24):
Well, so here's what I'll tell you, is we all
live in Florida, right, yeah? Is it a peninsula?
Speaker 3 (24:29):
Is that?
Speaker 6 (24:29):
Is that what Florida is?
Speaker 4 (24:30):
I think so?
Speaker 6 (24:31):
I mean yeah, so there's going to be a point
where we probably all don't outsmart mother nature. So no,
there's no rule of thumb. How it works right now
with an NFIP policy is each property is individually rated.
So yes, there's still technically quote unquote flood zones, but
each property pays their own rate based off of how
(24:54):
elevated you are. Got it right, So to your point
being twenty five feet, do it right? Just do it,
Spend the three hundred dollars and do it. Then it
doesn't matter, right, I mean, like the only time that
I would say not to do it is you know
you're in the fourth floor on a condo or something
like that in a high rise, right, yeah, yeah, we
have bigger problems of view floor, right because yeah, then
it's going to be dire. But you know, if you're
(25:14):
in a single family residence and you're living somewhere in Tampa,
Panella's Pasco, get your flood policy.
Speaker 3 (25:21):
Interesting answer, Yeah, so you're basically saying listen, dude's three
hundred dollars do it because there's other things if I understand,
that are covered, like like it just it's just water itself.
It doesn't have to be like the ocean rising to
get to your.
Speaker 6 (25:33):
House to use your flood policy, right, it's any kind
of rising water. So an easy way to think of
this is on your home insurance policy. What's going to
be covered is if the water is coming from the top,
right example, right, roof gets torn off, window broken. What
the flood policy covers is from the bottom up right.
So you know you were talking about South Tampa earlier.
(25:55):
I know that there was like four days last year
where people just got flooded driving home on like a Wednesday, right,
flood claim flood policy? Interesting?
Speaker 4 (26:04):
Okay, all right, so that's good.
Speaker 5 (26:07):
So I guess for people, you know, because most of
us don't really look into insurance or know the difference. Hey,
I have homeowner's insurance, so I mean we know that
flood policy is separate. How do like the other coverages work?
Is there other coverage that you can get, like what's wind?
And I don't know storm damage?
Speaker 6 (26:25):
So on the flood, the most you're going to get
on an NFIP, which is a FEMA policy, is going
to be two hundred and fifty thousand for your structure,
and the most you're going to get for your contents
is one hundred thousand. So the max the policy would
pay out is that three fifty minus you're deductible.
Speaker 5 (26:39):
That's across the board.
Speaker 6 (26:40):
That right. You could purchase extra flood insurance. That's a
whole other topic if that's worth it or not, but
at minimum, do the NFIP policy and then in regards
to other coverages. The other thing I think we were
dealing with is, you know, there wasn't a lot of
claims that paid out like actually, as of today, I
would say the inspearance is in a better spot than
(27:01):
when I saw you guys last time as far as
me being able to write policies.
Speaker 4 (27:04):
Really, yeah, why is that? Well?
Speaker 6 (27:07):
So I would say there's some legislative stuff going on,
But I would say, so if you think about this too,
most damage, not all, but most damage sustained is not
going to meet that hurricane hurricane deductible threshold, right right,
So most people, so let's talk about that. Most people,
The majority of folks have a two percent hurricane deductible. Frank,
(27:28):
we were talking about this before the show. But if you're
ensuring your home for five hundred thousand, it's two percent
off of that five hundred thousand. So most folks, unless
you had a pretty substantial loss, did not reach that
and you're probably fixing that kind of stuff out of pocket.
Speaker 3 (27:43):
Yeah, that's ten thousand bucks on your five hundred thousand
dollars Posli And my mind was like fifteen thousand dollars.
And that was actually the call that I made to
the insurance after the first inspection when I made a
little claim, And that's exactly what the lady said. She goes,
you know, I don't think you have enough damage to
absorb your deductibles. I mean it basically says, go fix
it yourself. Very interesting, Now, why why is the hurricane
(28:06):
deductible so much higher? Is there a reason for that.
Speaker 6 (28:08):
I think that it's always been like that, and I
think what that does is deter on a natural disaster
level that we're not seeing these massive amount of claims. Right,
we saw more losses, at least at my agency. We
saw more losses for the first one, Helene, which didn't
even hit our area, right, but it was those flood
(28:29):
losses because of the rising tidal waters on the Milton
side of things, I would say that was a low
claim submission re at least at my agency.
Speaker 4 (28:37):
Very interesting. Now, how about this question. I'm gonna let
you get to your sheet in a minute.
Speaker 3 (28:46):
Is is it true that if you file a claim
after a storm and it gets denied or whatever, you
drop it, it doesn't count against you, it doesn't hurt you.
Speaker 6 (28:57):
So back to my first point is get an agent. Okay.
Reason being is any time that you bypassed, or if
you don't work with an agent and you work directly
with a carrier, if you call to ask a question,
that is that is going most of the time, it
is going to go on your file and it's probably
going to stick with you for five years. Okay, to
(29:21):
your point, catastrophic claims should not go against you. So yes,
it is true by the book, by book. By the book,
you're on the right track. I will tell you I
was rating a home yesterday, had a great rate for
the for this client got to the end to go
ahead and submit the policy, and the policy was declined
(29:43):
by a carrier because of one of these storm damages.
Really Yeah.
Speaker 3 (29:49):
See, I thought they weren't allowed to decline you for that,
but I guess I can do what the heck they want.
Speaker 4 (29:52):
Huh.
Speaker 6 (29:52):
Sure, wow, So by the book and that is the
book answer that I give my clients, and also too,
if you need to file a hurricane claim, file the
claim right, Like if you're in a spot to where,
don't worry about how it's file your claim right right?
Speaker 3 (30:07):
I mean that's what that's what it's there for. That's
why you're paid it is. You might as well use it,
all right, Sandy?
Speaker 4 (30:12):
Well, question number four, I.
Speaker 5 (30:13):
Don't know too much about insurance and that's why I
do most people know that, like hurricane claim is different
than your homeowners I mean, I know my homeowner is aductible,
and I would think, hey, you know, if I've got damage,
this is my deductible. You know I have at least
that much. So do most people know that, you know,
needs to be that two percent threshold like where some
(30:35):
people surprise calling in like oh what like I didn't
know that, and sure they were totally blindsided because now
they have to come out of you know pocket.
Speaker 6 (30:42):
Well, I would say most are not right, and there's
things that take place right, homes have to get closed on,
and we're trying to deal with other things DTI and
all these other right. Okay, so again I'll go back
to get an agent. Review your policy, see annually. Okay,
find out what you have at the end of the day.
(31:04):
I would love for everyone to have great coverages, but
it is your policy. At the end of the day.
Your agent should be reviewing these with you. If they're
not proactively review them with your agent, that's what you're
paying that person to do. So I would like to
think that the majority of my clients listen to me, right,
I mean, I'm not that exciting, but I would like
(31:25):
to think that they do listen to me, and that
they do know that they have a higher deductible for
hurricanes name storms by the way.
Speaker 5 (31:31):
Okay, the ones that inquire. But it sounds like your
advice then is that when your top advice. Hey, every year,
you know, got the phone with your agent, go over
your policies and okay.
Speaker 3 (31:42):
So I want to make a comment to something you
said earlier getting an agent. I would I've never known
not getting an agent, and I maybe that's just because
I'm in the industry, but guys, I think that's great advice.
You need an advocate, and I don't think it costs
a lot more money. I think you save more money
because of what what how are they're gonna help you? Anyway,
We're gonna take a break on the Business Happy Hour.
We got a hard stop back in just a minute
(32:04):
from Jeff with Jeff Weaver Weaver from Southern Risk Agency.
Speaker 1 (32:08):
Let's get back to the Business Happy Hour radio show
with your host Frank the bank Kodo, owner of Lincoln Lending.
Speaker 2 (32:14):
Group, and his co host Sennia Akishna realtor with Mahara
and Associates.
Speaker 3 (32:19):
Guys, welcome back to the Business Happy Hour with Sinya
Akisha from Mahara and Associates. Ray Mahara runs an amazing
team over there, and man, we are working together every day.
We just put a contract in actually last night we
had one approved and.
Speaker 4 (32:34):
It was phenomenal.
Speaker 3 (32:35):
H So, if you guys need a great real estate agent,
I know you're going to call Sinia at.
Speaker 5 (32:40):
Eight one three seven five five real or they can go.
Speaker 3 (32:43):
To the website uh Tampa real Estate dot pro.
Speaker 4 (32:49):
To have a real estate dot pro.
Speaker 3 (32:50):
Guys, always contact Frankdbank dot com or you can find
me on Instagram and just text me directly. We'll get
you taken care of on a mortgage. We have the
pleasure of having Jeff Weaver from Southern Risk Agency in studio.
We were talking about getting an agent right before I
got rushed out of that quick break, And guys, I listen,
like Jeff said in the break, He's like, well, I
wouldn't buy a house without somebody representing me. Why would
(33:11):
you ensure the most expensive asset of your life and
just do it on your own. You just call a
freaking eight hundred number and me'll go give me an insurance. No,
you need an agent. It doesn't cost more. I'm with Heritage.
Jeff sells to Heritage, and he just made a point
to me. He goes, it's the same price. He goes, You, Frank,
you can call Heritage or you can call me. Well,
if I call Heritage, I don't have anybody to talk to.
I don't even know what to do. But Jeff's the
(33:32):
guy I'm gonna call and say, hey, man, listen, this
my toilet just overflowed, and didn't this and this?
Speaker 4 (33:37):
What do you think? Right?
Speaker 3 (33:39):
Instead of me going on record, that's right, like you said,
that's right because we don't go on record when we
call Jeff.
Speaker 4 (33:44):
Never go on record unless you're on the business happier.
Speaker 3 (33:47):
So, by the way, you can find Jeff at eight
one three three three three nine eight eight seven.
Speaker 4 (33:51):
Very easy.
Speaker 3 (33:52):
It's three three three nine eight eight seven. If you
have any insurance questions or reach out to Senia and
I will get you in touch. We've got a whole
segment here has got fifteen pages of questions, so we
got to hit you with another another one.
Speaker 1 (34:03):
Here you go.
Speaker 5 (34:04):
Oh, I'm tried to thank you other so many it's overwhelming.
One of my questions is is there I'm sure there is,
but what is the time limit to file a claim
that's hurricane related? Sam are procrastinator and it's like, oh man,
I've just been dealing, you know, with the repairs, Like
is there a time frame?
Speaker 6 (34:21):
There is? It is a very long time frame, and
this was recently just changed, so double and triple check
me on this out there in the interwebs. But it
was two years, and I think with some new legislation
over the last couple of years that has now been
taken down to one year.
Speaker 5 (34:36):
But still but still, I mean, that's actually that's longer
than I would think.
Speaker 4 (34:39):
I mean, if you don't file a claim and it's
been a year, shame on you.
Speaker 5 (34:44):
I mean, no, year seems plenty long enough, even for procrastinators.
Speaker 4 (34:48):
Like a year.
Speaker 3 (34:49):
I mean, come on, dude, something's broken in your house,
you're gonna just look at it for a year.
Speaker 4 (34:53):
There's a lot of people listening, say that's a good one.
What else? What other ones you got?
Speaker 5 (34:58):
Oh, let's see. Well, I mean, I guess maybe a
big question on everyone's mind, especially if you're in the
real estate industry, what do you think the repercussions will
be on the insurance industry? Are we going to see
big rate hikes? I mean any changes you foresee on
how flood insurance works.
Speaker 6 (35:22):
No, No to the rate increases just because yeah, because
I don't see a huge payout on the insurance side
of things. Actually, yesterday I saw a couple of policies
for the first time in a couple of years that
have actually gone down. Really what Lewich seriously hasn't happened
in probably over five years.
Speaker 4 (35:41):
That's amazing though it is.
Speaker 6 (35:43):
It is, And like I said, my market is better
than when I saw you guys last year. As far
as how I can help clients.
Speaker 3 (35:51):
Jeff, Could that be due to some of the legislation
that they are opening up to more agencies and bringing
more agencies into the state, So maybe there's.
Speaker 6 (35:59):
Some more competent potentially yep.
Speaker 3 (36:01):
Yeah, which, by the way, is a great squirrel. Note
competition is not out there right now when you're looking
for a home over here with Sinny and Maharran Associates.
Speaker 4 (36:08):
But this sounds like a total commercial.
Speaker 3 (36:10):
The competition is less right now, and I am not
be asking you if you want to buy a house,
now is the time to do it because as soon
as these rates drop, and they will, you're going to
have competition. So just like Jeff said, competition lowers your
insurance rates, competition increases the price of your home.
Speaker 4 (36:26):
So by yours today, bye today before it's too late.
So that was a good one. The competition price is
coming down. Dang, that's awesome.
Speaker 5 (36:33):
Yes, I mean with flood insurance too, because I guess
you know my thought. Okay, if there's you know, been
such an issue or whatnot, are those.
Speaker 6 (36:40):
Potentially with the flood because that's going to be on
a federal level versus on a state level. So potentially, Yeah, potentially.
Speaker 5 (36:48):
To a point, not a huge hikes, right, they could
still bet it's affordable coverage. You're not required to have it,
but still should be affordable for most people to get there.
Speaker 6 (36:56):
Something I will tell you just a quick side note
if I can on. Yeah, I was able to help
a couple of clients this year. Flood really wants those
policies to be renewed, like maintained. So if you have
somebody buying your home from the seller that that flood
policy is a big asset as far as transferring that
to the new owner. I was able to save several
(37:19):
thousand dollars on a deal by the seller had the
flood policy and we were able to roll that in. Again,
I'll go back to my point. If you have an agent,
they'd be able to educate you on something like that.
Speaker 4 (37:28):
But that was out a FEMA flood policy, correct. So
what you're doing is.
Speaker 3 (37:32):
You're grandfathering them in under what the zone and the
rate and everything.
Speaker 6 (37:37):
Just on the policy, just on the policy.
Speaker 5 (37:39):
Put that buyer just you know, didn't call, They're like, oh,
you know, let me start fresh, then they would have
paid a lot more money that It is significant transferred.
Speaker 3 (37:46):
And that that's even if you don't have flood insurance
that's required.
Speaker 6 (37:50):
Correct.
Speaker 4 (37:50):
So sim that's a great marketability angle. That's even a
great social media post.
Speaker 3 (37:55):
Is you know that a house that has a good,
cheap flood policy is actually more valuable. There's like people
talking about assigning mortgages. I was talking in the bathroom
to somebody about that just now, about assignment of FAHA mortgages.
That is a pain in the ass a signing or
transferring flood that is.
Speaker 6 (38:11):
Not very easy, very easy.
Speaker 3 (38:13):
Okay, Wow, that's some good advice. But there's another one
on here. I wanted to ask. I'm gonna steal one
from you here. If somebody after a storm finds out
they don't have enough coverage to repair their house, what happens?
Speaker 6 (38:28):
Well, so you could go FEMA. Yeah, I would say.
If you've driven around the Tampa Bay area, you can
see what you're talking about with the blue tarps still
on some folks roof. So I mean, not a lot happens.
Speaker 4 (38:42):
So you can go to FEMA.
Speaker 3 (38:43):
If your regular insurance doesn't cover, you can be like,
all right, I need your help, FEMA.
Speaker 6 (38:47):
You can potentially I think the max I looked it
up this morning. It was somewhere on a ballpark of
forty thousand dollars that you may again, that's a that's
a big may. Yeah, that you may be eligible for it.
Speaker 5 (38:59):
Parl, Like FEMA said, since that's why people do that.
So they call you first, you guys, discuss that there's
not enough coverage, and then that's their second correct avenue.
Speaker 3 (39:07):
Okay, so we got a minute left. What do we
want to leave the listeners with besides your phone number again?
Anything anything exciting.
Speaker 5 (39:14):
And a phone number again?
Speaker 4 (39:14):
But wow, this one quick I did.
Speaker 3 (39:16):
It went super fast. Well, we're having a lot of fun.
You can find Jeff at eight one three three three
three nine eight eight seven. That's three three three nine
eight eight seven and he does all kinds of insurance.
I was going to open up something on renters insurance.
We don't have a lot of time, but I do.
I know Jeff would agree with this. If you are
a renter, get the insurance. It's less than fifteen dollars
a month.
Speaker 4 (39:35):
Oh my god.
Speaker 6 (39:36):
Also, look into the flood. Don't be like those folks
on Davis Island, specially especially if you're on the first
floor and review your policies with your agent annually.
Speaker 3 (39:45):
Boom, and I'm going to leave you with some advice.
Get an agent. Get a freaking agent for real estate,
for insurance.
Speaker 4 (39:52):
And for mortgage. For Pete's sake, get an agent.
Speaker 3 (39:54):
Guys like and share watch the business Happy Hour, Jeff,
thank you for coming.
Speaker 5 (39:59):
Yeah, it takes some mind.
Speaker 6 (40:00):
Thank you so much.
Speaker 3 (40:00):
It was absolutely awesome. Guys, we'll see you next week.
We've got another great guest. I'll keep it a surprise.
Stay tuned. We'll see you when we get on air
next week.
Speaker 4 (40:07):
Have a good weekend.
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