Fire at one of my last rental

If you would, please explain how the compensation works for what you do (adjuster). While having a cigar and libation at my buddy's place in Downtown Disney yesterday we struck up a conversation with another general contractor and his wife. He was telling me that his wife (also an adjuster) could have made TONS of money during the '04 storms. He said that in addition to a commission (on each claim written) the adjuster gets a 2% bonus and also a cut of any residual claim work that comes off of each claim. If that's the case we're all in the wrong business here. Do a breakdown for us since you're "in the game" so to speak.

JET>>>

Patty I also wanted to say that time and consideration gives perspective I understand this now. Few of us are always lovely or always vile. We have seasons I don't believe I ever said I didn't know the ropes, I tried to make it clear that I did . I thought that was a little odd to mention. B) :)>>>

Patty It is very sweet , Thank you I make no pretence. I am a salesman through and through . I have been since I can remember . And stories told to me of things I don't remember . I love the way of life and it has been very very good to me . As far as what is happening to me nothing but the gospel , if it is not of any help, That is not for me to decide . I'm just posting about what is going on in that part of my life.>>>

:laugh:>>>

I think she is speaking to CIAK in his native tongue. She doesn't quite have it down though. After re-reading it five times I was able to make a wee bit of sense of it.>>>

...............ahhhh Patty, clarity of vision.....>>>

Don't be sorry get over it . It is time to change the script to this old play . We are reading it and not feeling what we say . Tell me what your seeing anyway . Seems the simple things are the hardest to explain . Mason What is the doc you mentioned to get around the bank inspections and deposit the loot in my account ? It keeps tickling my nose I'm about to sneeze .>>>

Min asked me how I felt about this . I didn't answer him directly because I think I hadn't thought of it in a feeling way. If I were to try and explain . It is a euphoric feeling of direction purpose and accomplishment . Jimmy Capaldi explains : " Forty thousand headmen couldn't make me change my mind If I had to take the choice between the deafman and the blind I know just where my feet should go and that's enough for me I turned around and knocked them down and walked across the sea

Hadn't traveled very far when suddenly I saw Three small ships a-sailing out towards a distant shore So lighting up a cigarette I followed in pursuit And found a secret cave where they obviously stashed their loot

Filling up my pockets, even stuffed it up my nose I must have weighed a hundred tons between my head and toes I ventured forth before the dawn had time to change its mind And soaring high above the clouds I found a golden shrine>>>

Minn First off , you are correct $ 10,000.00 is the cut off . After that the lien holder is included on the check . Thanks for allowing me to correct that . Now what is the documents I need to circumvent to banks inspections as you alluded to ? I'm sorry I don't agree with your last assessment you make about the banks and insurance co's. I interpret your response as a victim mentality ." At the core victim mentality is a stewing rage of resentment and anger. " Of which I , have experienced plenty working the insurance angle here . People with a victim mentality feel afflicted and oppressed. They think their actions are justified because of what others have done to them , as has been notable in visceral blatherings levied against me through out this thread . The cure for this type of behavior.... become responsible for your own emotions. The first step is to forgive those whom you feel are oppressing you. Finding out what ails you is half the cure. The second step is to recognize that the world owes you nothing. I think it may be important to explore this behavior with in this thread " Knowledge is Power .">>>

Min It doesn't concern growing balls . As I have stated over and over " Knowledge is Power " I will investigate this side of it. I'm not worried about a lot of the issues you brought up. In the State of FL because it is a rental we need a contractor to do repairs on income property . I have a close friend who works with me on my properties . I'll let you know where this goes , Thanks>>>

Min. This is a rental . Now that being said it is the last one I have that has a small mortgage. The insurance company has compliance issues with the state and banking industry to include the name of the lien holder ( Bank of America ) and the owner ( ME ) on the check if it over a certain amount $2,500.0 I believe is the cut off. This check being over 40 times that . The lessons learned from Rita Katrina make this understandable .I've been told many checks were written to homeowners who thought it wise to run off to the Casino's to double their money , the consequences obvious . Abandoned homes never repaired still sitting in disrepair and a blight to the neighborhoods . After I take off the bankers hat , developer contractor hats go on . This is a very interesting event . Out of the ashes arises the Phoenix . Kool very very Kool>>>

Now that all the monies issues have been settled by the Insurance company I need a new hat . Dealing with the banks . Bank docs require signed forms stating 1. All insurance monies will be used to complete the repair of damages listed by adjuster estimates 2The bank will hold the balance of the insurance funds in a escrow account and will release additional funds as repairs progress and inspections are completed 3 I will be hiring a Contractors to do repairs . All invoices for labor and materials relating to the repairs to the property will be paid in full and no mechanics liens have been placed on property. Mail this doc to the bank they will process it and release 30% of the funds to get started . After 50% of completion after inspections more funds will be released then after 90% inspection final release. Mailing endorsed check to the bank approximately 10 days later $10,000.00 or 30% which ever is greater will be released. This is the next step.>>>

I understand PC . When preconceived ideas are challenged the first motion is to defend the old . right or wrong. I know I deal with first class ,honest moral people , who want to be a help . I'm not saying perfect people . To say I don't give a hoot is a misconception . If I didn't give a hoot I would not put up with all the crap thrown at me in this place or bother posting this whole series . I do it because I do care and know if I can get a few people turning they will see the light and understand . It is all about helping contractors on a local level helping their customers and community by learning the process and reading the contract . That's all. My intention in posting this .>>>

I met with the Architect today. With the monies given me by the insurance company I will be able to upgrade the house by a few hundred square feet add a wrap around porch and upgrade the A/C . A new kitchen new wood floors new dry wall new upgrade on roof and siding. Because I'm a " roofer "I will be able to use the roofing company to charge for roof upgrade siding and fascia soffit gutters at a rate I can determine . This is going to be a sweet deal. I also get another 9 months of lost rents while construction is going on . ALE on water and electricity used . Damn nice situation from an industry that is alleged to grind people down to a knob , Bull.Shate . Learn the system you can help your customers in the process. Get the job and be an all around good guy helping your community .>>>

"Allstate says some people hired lawyers because they were not familiar with the claims process. " Wonder where I have heard this before............ Finally a glimmer a light dimly lite yet turning on . Learn the process. You can actually be a good influence with this info. That is all I have been trying work here . Jed it is difficult to admit when you don't know something . Ed has come a long way in learning, " Knowledge is Power " from where he was. I'm not saying it is because of me . It is who he is . He still goes off on tangents from what is really going on . He is turning and will come around . He is a good guy and really wants to be a good influence . The process is one part of the key to working insurance. The other is understanding what the contract says . If you don't you are still a pawn to all the ambulance chasers and lawyers willing to line their pockets with your and your customer money . savvy ??>>>