All Forum Posts by: Timothy W.

If you go against the unit owner's policy they'll probably depreciate the claim, however your deductible won't apply.  If you go with your company you'll probably get full replacement cost but your deductible will apply and they will attempt to recover from the other unit owner's policy.  If you have an admission of negligence and acceptance of liability in writing, may be worth it so just see what the other unit owner's carrier will give you.

The claim's probably already on the Comprehensive Loss Underwriting Exchange (CLUE) database so it's not easy to unring the bell.  It is a legitimate claim.  Check with your agent.

Yeah you needed to be in a new building then.  There were no more challenges.  Something Trump said at a conference about 2006 that I'll never forget, "If you're the smartest person in the room, you're in the wrong room."

Sounds like he's screwed and needed to cut expenses anyway.

I looked up your name to see what you do or did rather, lol.  Do your same job, or something close to it, but as an independent contractor for more money.  Basically you take what your salary was, double it, and that becomes your fee per hour as an independent contractor.  Now only you can fire you.  

Btw, are you an estimator by chance?

 Believe me I get it.  When I was single I rented my bachelor pad in a higher end neighborhood that didn't cash flow but was great to live in while owning my investment property about an hour away in a place that cash flowed that I didn't want to live in. 

I don't know man.  I'm about free and clear on mine and all I see is hundreds of thousands of dollars I can't put to work.  It keeps the wife happy though for some reason so in that sense it's an investment in peace. 

Really?  You think a non income producing property that costs more to buy than it is worth is a non sequitur?  Ok.  

This is why I sold my real estate to buy the law degree.  Lot of money to be made in the second to third year of Trump's second term when the credit market dries up and suddenly properties are no longer valued based on access to lending.

I have a doctorate in law and I can tell you first hand that higher education does not tell you how to become rich.  The professors sure as heck don't because most of them haven't figured it out.  The reason 80% of millionaires "have college degrees" is that millionaires are motivated people seeking new challenges and a degree is one of them.  They are millionaires because of who they are not because of the degree.  There are plenty more people with college degrees who are not millionaires than are.

 I'm guessing you aren't aware of the utter bloodbath that occurred in 2006.  What he proved is that the liabilities on a primary residence can exceed the value of it and it has no income generating exit strategy to weather a full market cycle.  That's why it's a liability rather than an asset.  That's what being upside down on a mortgage is called.