吃瓜不打烊

Good morning and good afternoon, folks. Welcome to the Large Loss AMA. Super excited to have you here with us today. Well, I’m, excited to have about an hour and a half with you guys here today. I’m joined here by Tom McGuire from Large Loss Mastery, and we’re here to talk about Large Loss AMA. Thanks to everyone who participated ahead of time and sent us some questions. We got some doozies here from for for Tom and excited to get his expertise in this space. But before we get started, I do think it’s worthwhile having Tom introduce himself, so we’ll start there. Tom, over to you. Alright. Thank you, Dave. It is a pleasure to be here with everybody today, and, very honored. I wish I could you know, wish we could we were in one room where you we could all talk, but, this is awesome. My name is Tom McGuire. And for if you don’t know me, I started in the industry in 1986, and so this will be my 40th year in restoration. And I started purely in restoration as a commercial, restorer and, you know, fell in love with it like everybody on this call. You know, when you when you love restoration, you love it. And it’s I never thought that I would be around for 40 years, though, in the industry, to be perfectly honest. But as I as I went come on, you know, as I went through my career, it’s just like, you know, this is this is part of me now. And so I figure I got another 10 years, and then I’m gonna probably start to slow down a little bit. But this this industry has taken me all over the world. I’ve done commercial projects in Singapore, Kuwait, Mexico, Canada, Costa Rica, the West Indies, the Bahamas, the Virgin Islands, and it has been a blast. Not every job was a lot of fun, but it some of them were it was it was more fun to actually leave than it was, but to be there. Some of you know, as you know, in some of the some of these projects, they can be they can be miserable, but it’s still fun to see, you know, how we can bring all the pieces back together, how we can make that complete that journey. Because remember, we’re always on that journey of taking the client from what it looks like today, what it’s gonna look like tomorrow, and what it’s gonna look like when we’re done. And it’s that journey that is the most fun to watch your client go from the worst day of their life to where now they’re back in business or back in their home back in their home. It’s a great feeling. And so, again, Dave, thank you for having me. I’m very happy to be here with you all today. Thank you. Right on. Thanks, Tom. Appreciate it. So let’s get into, some of the questions here. So let’s start with there’s a theme that we got from a lot of folks who are on this call here today, and it was around how smaller companies can realistically take on larger loss work. Well, I my my my recommendation to smaller companies when you’re looking to get into large loss is get with a strategic partner, someone that needs a first responder. And so you don’t have to jump in feet first. You can learn from them by being their first responder and working with them on large loss. For example, if you know of a company, a larger company that is doing business in your region and you’d know that they don’t have an office, then become a first responder for them in that area because they always want to expand their footprint without spending any money. And so you can become their first responder. So that’s one great way to break into large loss without, number one, spending a lot of money because you’re just be you’re just networking with a larger company to become their first responder. And when that moment happens, they call you, you go, and then you you start to see how everything works. Because the main difference between doing small jobs and big jobs is resources, money, financing, experience, and and strategic partners. In the financing space, some folks perhaps might be curious just on, like, the cash flow side of things, on what, you know, the implications could be or what’s required for a for a large loss. Can you speak to to to that side of things? Well, you know, financing is a big deal. And in our industry, you know, as everybody on this call knows, you know, I always tell people, remember that we’re restorers. We’re not bankers. And but how many I know there’s probably 90% of the people on on our call today have bankrolled a job to where, you know, we’re paying for it until until we get paid, which is crazy. But it’s it’s our industry, and it’s where we are. So I always recommend, you know, getting money down. And so we’ll talk a little bit more about that. But first off, just make sure because make sure if you’re chasing a big job that you can afford to do a big job. Because, you know, here in the States, we do a lot of catastrophe work where, you know, it’s that shiny object, you know, that people are chasing, you know, a hurricane. It’s like, man, we gotta we gotta get to Louisiana. We gotta get to Florida or Texas. And then they get there and they get a big job, and they can’t afford to do it. Because remember, when you’re if you land say, let’s save a a $500,000 job, you’re going your labor on that job is probably going to be about $50-75,000 a week. Now you have to be prepared to pay that because most labor companies aren’t aren’t gonna give you any time on that invoice. It’s gotta be paid, you know, weekly. And so just remember just things like that. Now the rest of it will be can be spread out, but just think about think about that. And, you know, on bigger projects, you know, we’ve been on projects where, you know, it’s a minimum of $300,000 a week in our in our labor, just for our labor. And you have to be prepared to pay that weekly as well as support the team throughout that project. And so finances are are vital. And so I always recommend that you put yourself on a schedule. So when you make sure you have money up front. Make sure you’re asking for money up front. There’s an old saying, if you don’t a s k, you don’t g e t. If you don’t ask, you don’t get. And it’s very true in life as it is in business. And so make sure and I I add another thing to that. If you don’t ask, you don’t get. And if you don’t get, you don’t e a t, you don’t eat. And so make sure that you are asking for money upfront. When you start, it’s tradition it’s a tradition number. It’s 25-30%. And if it’s a large project, if we’re on it for three weeks, we’re gonna invoice every seven to ten days. And so that way, everybody can get used to what our invoices look like. If there’s any questions, we can get it worked out before that last invoice comes in. If you’re waiting to invoice till the end, I never recommend that because usually the end is gonna be 30 days after you’re done with the job. Now you’ve delayed your payment now 30 days. So do your progress billing. That last invoice can can be a little bit late. That’s okay. It’s the last invoice. It’s one of five or one of four or whatever it may be. It’s not the entire amount. And so make sure we’re doing that on our big projects. Love that, Tom. Like, you got a trademark in there with those acronyms that you’re pointing out. Those are that’s okay. Love that. Now you talked about another one. Another one? Yeah. You got another one? Too good. Yeah. This is this is this is another one here. What if, how much, how long? Love it. Love it. Now you talked about strategic partners being a great avenue, especially as a smaller company to get into the large loss space. You talked about financing. The other one that comes up quite a bit when you’re looking to evaluate your your company and your team is the knowledge and expertise in perhaps taking that step from perhaps, like, more of a residential portfolio to increasing your large loss portfolio. What what would you recommend or what would you, yeah, recommend to an owner to to to look at, to evaluate their team’s knowledge and experience? And then if they don’t perhaps have it, what would you do to perhaps acquire that knowledge? Well, the key is, you know, and and we we we live in an industry of education where where we’re constantly getting being educated and educating. And so back when I started, we didn’t there were no resources. It was all done in house. And so it was all done on the job, in house, and a lot of the standards that we have today came came from that. And so, came from that, the 80s and 90s when we didn’t have standards. That’s where they all came from, was all the hard knocks that we went through. And so if you’re doing, residential projects, if you’re doing it right and you’re following the standards and you’re and you’re and you’re in your including the best practices, because it’s not all about following the standards, because the the client’s priorities, the long term and short term priorities, are actually more important than the standards. The standards are for us to live by, but what the the client is living by is what the need is for their business. You know, what’s the short term, you know, they want us what what part of the building do they need so they can keep their business open or that it can stay in their home? You know, those are the things that we plug into into that in into the scope and into the project. So if you’re doing a job right on a residential level, then you’re probably gonna do it right on a commercial level. The only difference is the client. The client obviously is a is a different client because they’re it’s a business client and not as much of an emotional client because you’re in their home versus their business. But sometimes that business employs half of the people in that town, and that business is it’s it’s an emotional thing because everybody in that town has lost their job until you get that business back up. So sometimes they’re very, very similar, and sometimes the emotion in business in business disasters are almost as strong as in the residential. So if you’re doing residential right, you’re going to do commercial right. The difference is can you afford the bigger tab? Can you afford the, you know, covering because, you know, we don’t like to bankroll jobs, but we might have to bankroll that million dollar job or at least half of it to make sure that we’re alright. So you gotta make sure that you have cash to do it, cash or credit or credit lines or whatever you need to do the job. And if you don’t, find somebody that does that you can use as a strategic partner to help you through that moment. Right on. Thanks, Tom. Yeah. That makes a lot of sense. So for smaller companies looking to take on more large loss work, financing, no doubt, is important from what I’ve heard from you, knowledge and experience, and then looking for a strategic partner to kinda dip your toe in and not take on all the risk from from day one. Yep. Another interesting question that I find comes up, less so related to, like, smaller companies that get on larger loss work, but just the definition of what is considered a large loss. So, Tom, in your eyes, like, what is considered large loss? Well, it it depends upon who you talk to. It’s kinda like that big fish. You know? To some people, big fish is this big. To some people, you know, big fish is fish is a marlin. And and so you have in the carrier world, anything really over 50,000 is considered a large loss. In the restorer world, for the bigger companies, it may be, well, you know, 500,000 and above. For most restores, it’s gonna be anything that that that taxes your resources. In other words, it’s going to be that project that comes along. It doesn’t necessarily have to be a big dollar or, you know, big a lot of square footage. It might be that job that comes along and takes all your resources. You know, you’re you’re you don’t have anything left, you know, to do anything more, and it’s then that next job comes along, and it’s like, dang. You know, now what do we do? And so it can actually be all of all of the above when it comes to that stuff. And so a large loss typically is gonna be considered anything above 50,000. If, you know, some of the larger contractors, again, you know, 500, you know, some of the real the real the real big ones, they would say, oh, it’s a million, but it’s really 500,000 and above. But they like to separate themselves from the from the little guys. But really, for anybody, when the job takes all of your resources, takes all of your talent, and and gets it in one place, so you can have a, you know, $100,000 job that you have to get done over the weekend versus a million dollar job that a drying job where you have four technicians out there for a month. Two totally different. Now one is bigger in dollar value, but were that $100,000 job that you have to get done over the weekend or four days is much more taxing on your resources to actually get it done. And so it can be more challenging on $100,000 job than it is on a million dollar job. Makes a lot of sense. Really, really comes down to the nuance and the business and the type of job you’re taking on and what your client ultimately wants. Right? So that’s a that’s a great point on resource constraints and so forth. One of the hot topics from some of the questions we received was around consultants as consultants are are generally involved in in large loss. What do consultants I guess where we we should start with this conversation around consultants is what do they typically scrutinize the most? Well, I’m I’m I’m actually a third party consultant myself. I am I am independent, though, and I am a restorer at heart. And so when I look at the job, I look at it through the eyes of of a restorer. And not all consultants do that. Even the consultants that I that I grew up with that were restorers now look at the look at, the industry and look at projects in a different light than than I do. But the number one thing that the most common problem that happens on all invoices for all restorers when it comes to, issues with the invoice is labor and not understanding how much labor is needed for that particular job. For example, if you have a job and we’ll just we’ll just say 100,000 square foot hotel, and you have 100 people on that job for 14 days, someone like me is going to come along and look at your invoice and go, alright, so why did you have 14 people on that job? You know, here’s your production rate. Here’s what they were actually producing. They were producing at 60 square feet per person per day. And when you look at the job like that, it’s like a lot of times restorer will be like, well, what are you talking about? Because you’re you’re educating them on what they should how they should be looking at the job. Just don’t throw all of your resources at the job for sake of a big, nice invoice, because somebody’s going to look at it and scrutinize it and ask you why you had those that many laborers on the job, and they’re going to scrutinize your your your the time on the job, they’re going to scrutinize your equipment, all of those things. But it all starts with labor, and it’s usually where contractors get in trouble, is there’s too much labor. And so always pay attention. There’s two numbers to pay attention to on your project. One is square foot. What’s your square footage price? And what is your production rate? What is the production rate of your people? If you know those two numbers, you will usually always have the correct amount of people on the job. Now when you first get started, in the first few few days, what I like to call splash day. So on splash day, that very first, you know, two or three days, you’re gonna bring in as many people as you can, get all your equipment set up, get everything, all your supplies, everything moved in. But then we wanna back off to what we what we truly need to do the job. Because always remember that it might be the first time that you do that that you’re doing hospitality or that you’re doing that hotel, but it is not the first time it’s ever been done. And all of that data is out there from past performance on jobs. And so you’re constantly going to be compared to all those all the past performers on similar projects. And so that’s where that information comes from. I that’s where our information comes from, and you’ll and you’ll see the The Edge, The 吃瓜不打烊 Edge, that’s where it was born, was through data that we gathered over 30+ years. And we wanted to be able to fine tune how many people we needed on the job, and that’s what The Edge does for us. It ties all of that in, and then it also tells us what our production rate is or should be on that type of project under those circumstances, fire, water, mold, you know, congested facility, whatever it may be, all those factors into what our production rate should be. And so I encourage everybody on this call, if you have any questions about what I’m just talking about right now, because two things, square footage and production rate, then please get ahold of us. You know, we’ll gladly give you a demo of The Edge because these are the two things that carriers and consultants look at. The very first thing that I look at when I get a file, if we’re doing a a file review, is I’m gonna do a square footage overall view of that project. So I’m gonna take the the total project, divide it by the total square feet or square meters, it doesn’t matter. Square feet, square meters, it doesn’t matter. The Edge works either way. So we’re going to find out what it should be. And what what I’m gonna do is I’m gonna look at it and say, alright. So why is this job at $22 a square foot when it should be at $8 a square foot according to the best practices of of the, you know, historical data. And so it’s very important to remember those two things. Again, square footage and square and what’s your production rate of your people? Hey, Tom. From that explanation, we had a question come come through live around what is a good way to quantify production rate? Well, what production rate is is what one person can produce in an eight hour period or a shift. And so, so the best way to look at it let’s let’s go back to let’s go back to our hotel example, our hospitality. When we’re average hotel room, in North America is about 300 square feet. And give or take, what part of the part of what part of the what part part of the US you’re in or what province you’re in. And the age of the hotel and all of that. So 300 square feet. So think about what it would take for one person in that 300 square feet if they had to clean everything in that 300 square feet. That’d be the walls, ceilings, floors, contents, fixtures. So think about that hotel room, 300 square feet. Now if one person were to do it, the average, production rate or the sweet spot is about 140 square feet per person per day. It used to be 150. I’ve just recently moved that number down to 140 over the last, six months because we’re actually working slower today than we than we were in the past. And so 140. So think about that. Here’s your hotel room, so 140-150. That hotel room, it’s probably gonna take somebody at least two days to clean everything that’s in there. Now if you put some if you put two people in there, they get it done in one day. So that means that the the production rate would be at 140-150 for that 300 square foot hotel room. So when you apply that to then to any project, whether it’s a 3,000 square foot home or whether it’s a 300,000 square foot building, it all applies exactly the same way. So the the number to remember is 140-150. That’s our sweet spot for our production rate per person, per day, or per shift. Right on. Thank you, OnePlus, for that question. Really appreciate it. A question came in from Chris. Thanks for that. Was that cleaning correct? What about demolition? Demo there, it’s it’s it’s the same. And so what we’re we’ll start at one fifty with demo, and we’ll probably go up a little bit because, obviously, with demo, we’re gonna be we’re gonna be demoing. We’re gonna be tearing it out. It goes out much quicker than than it does to to clean. And so we will have a higher number. And inside The Edge, The Edge estimating system, you’ll be able to adjust for for that. But demo is one of the things that will be a little bit higher than cleaning. It requires less labor. So the the the least amount of labor that we have on the job, our production rate is gonna go up. Our square footage number is gonna go down. Alright. Thanks, Tom. Nate from, actually don’t know where Nate is from, but question given from Nate. Thanks, Nate. That’s considered for an eight hour shift. How about on residential applications where drive time cuts into that eight hour shift? Just divide 140 square feet by eight for hourly rate. With with your with your travel time now, when you when if you if you have a lot of travel time and travel time also, factors into commercial because sometimes, commercial projects, we might be we might be staying two hours away. And, you know, driving into one to two hours a day. And those jobs are horrible, but they they exist. And and we and you get stuck, you know, you get Los Angeles or New York or Boston, you get stuck in some traffic, you know, from hell, you know, here, Orlando or or Tampa, same thing. And so travel time does factor in in there with your with the production rate. It will affect it because, obviously, you’re gonna charge for your travel time, but it also depends upon, what, you have contracted for your travel time. Is your travel time at full rate or is it at half rate? With some with some, carriers, with some re they they want you to do it half rate for your travel time. And so all those things play into it. Thanks, Tom. With cat work, shift is possibly a bit higher, looking like twelve to fourteen hours. Does your production rate lessen if that’s the case? It will it will not significantly, but we all know that when you go when you work twelve hours, you’re much more efficient at eight to nine hours than you are at twelve hours. At twelve hours, you become kind of a neutral. You don’t you’re not really you’re you’re getting stuff done, you’re you’re you’re making progress, but you’re you’re you’re at a near neutral state. Typically, it won’t affect it to where you have to adjust it. Now there may be other things in there. You know, maybe you have a power situation, maybe the power is out, you gotta use the stairs. You know, all of that stuff will adjust your production rate down. You know, when you’re there’s no no elevators and you’re in a ten story building, again, another nightmare, but, again, it’s what we that’s what we deal with. But, yes, all of those things will adjust our production rate down. Looks like we have one more question about production rate at this point, and it was around contents packing and pack out. Does the production rate change, or or how does it impact if you’re doing contents packing and pack out? We have what we do with pack out in particular, and we’re well, specifically, is we have square footage ranges for, packing out. And so when you’re in The Edge, it does affect your production rate, but what we do is we apply a square footage price for moving, for packing out, whether it’s congested, heavily congested, hoarder, you know, whatever it may be affects our product our our square footage price for that actual pack out. And so that’s typically what we’ll what we’ll use if we’re doing a pack out only, we have square footage prices that are for that. And those square footage prices were given were were given to me by some professional movers and people that that’s that’s what they do for a living. And they they love the system, and so they were they they donated me some some information. Good deal. Thanks, Tom. Appreciate that. Going back to an earlier topic, we had another question come in live when we were talking about qualifiers for large loss. And one of the qualifiers that came up was if it taxes your resources that you currently have. So, Tom, do you have any guidance for this individual for, like, any metrics or things to look at to determine where your resource max is when dealing with a large loss so that smaller companies can strategically approach perhaps a certain large loss versus maybe one that might be too big based on their resources? You know, that’s a great question. And it’s really it’s a hard one to answer, though, too, because it is really up to that individual company. One, in how risky you are. You know, are you risk evasive or or are you are you all in? And so, you know, the guys that are more gamblers, you know, they they’ll take big a bigger chance. For the rest of us that don’t wanna gamble with our business, I would look at, you know, and look at your finances and decide what you can do. What you you know, what are your you know, do you have credit lines? Do you, you know, do you always have I would I would probably use do you have at least thirty percent of that project in cash? So if it’s a million dollar job, do you have, you know, $300,000, you know, in cash that you can use that will that will, you know, get you through it. That’s that’s important because your look if you looked at the project, you know, on a big project and it’s we’re we’re looking to get a minimum of 50%, then I would recommend that you have you have 50% to to do the job just as a as a as a guide. Now if you wanted to roll the dice, you know, you can do that. If you’re getting money up front and if you’re getting, you know, all of your thing ducks in in line and you’re getting your invoices in and you’re invoicing every seven to ten days, then you’re probably not gonna have any issues. But if there’s issues on that job and they don’t want they and they’re still slow on payment, you wanna make sure you at least have your cost covered. So thirty thirty to fifty percent of the project. It’s a good metric. Thanks, Tom. We know that question come in here, and let me just see. I gotta scroll back up a bit. We have someone who’s, looking for some assistance with consultants, specifically with debris. So they’re running into an issue where looks like they’re dumping debris into their own bins and making an invoice from that due to the volume of debris. How would you look at or, like, what type of documentation would you like to see to be able to justify the price that they’re charging from your point of view, Tom, as a consultant? As a consultant, you know, and that could vary, you know, and that’s you know, you know, and, you know, it’s a lot of times, you know, you’re dealing with consult consultants and it’s an and it’s opinion. And so I’ll give you my opinion. My opinion is if you’re doing the work and it’s documented and it is and it is true to form, you should be able to charge what your what your labor rates are, without without question. And so it sounds like that that with somebody’s having is having an issue, with that. And if you’re if you’re doing the job and you’re doing it right and you’re doing the service that their the customer needs and is asking for, you should be getting paid for it. Right on. Thanks, Tom. Thanks for the question, Jessica. Appreciate that. A follow-up to the question about, taxing. Like, what type of resources would you need to take on a large loss. Tom, you mentioned kind of a metric of, like, twenty five to thirty percent. Now they’re curious to know, would you recommend putting in the contract a down payment up to that twenty five to thirty percent? And perhaps you can just talk generically to, some of the payment best practices. What you know, does it make sense to ask for a draw payment early upfront, things like that. Any big project, there is going to be they’re they’re going to expect you to ask for money. Now if you don’t ask for money, they’re not going to volunteer it. So, again, it goes back to if you don’t ask, you don’t get. And because they’ll you know, if you don’t ask for money, then they’ll just say, wow, they don’t need it. And and and I actually have a a client, a large they do a lot of a lot of large projects, and they’re like, Tom, man, we just don’t want them to think we don’t have any money. And I’m like, are you kidding me? You’re you’re doing jobs based on you don’t want you know, you’re not asking for money because you don’t want the client to think you don’t have any money. That doesn’t make any sense. Everybody has to understand that this is a business, that when they sign your contract, their contract means that they’re going to pay you. And inside that contract you know, it’s like if you if you were to build a house, start to build it, Dave, you’re you’re building a house here in Florida. Yep. And there isn’t a contractor on the planet that’s gonna build that house for you and finish it, and then you pay them at the end. No. Not going to happen. He’s gonna ask for fifty percent down, and they’re gonna call they’re gonna call it a draw. In that draw, when he gets to fifty percent, what’s he gonna do? He’s gonna say, hey, Dave. You know, we’re we’re up on that draw. We’re gonna need some more money, and you’re gonna wire him some more money. If you don’t wire him any money, then then your house in Florida never gets done. And so it’s a business. And and sometimes in our in the restoration world, we forget that. We forget because we’re we’re worried about getting paid. We’re worried about upsetting somebody. We’re worried about, you know, what the adjuster might think or what whatnot. Don’t worry about that. It’s business. Excuse me. So ask for money up front. Put it in your contract. Twenty to thirty percent. Sorry about that. No worries. Good deal. Good advice. Thanks for for that on the payment side of things. Lorraine, thanks for the question. Dean, thanks for chiming in here. So we have a scenario where looks like Dean might be working 100,000 square foot property with 80 unit apartment building fire where all unit owners needed to evacuate at one point, and now, the area, is stabilized and made safe for reentry. What strategies, Tom, have you seen or would recommend for managing the entry or reentry of these unit owners, restorers, and professionals in a safe way? Another good question. Something must have been flying around here. Yeah. No worries. Reentry into the building. Now this is after after we’re done with the restoration. You really wanna be very strategic, because everybody wants to get back in all at the same time. And everybody’s important. But, you know, in those buildings, there are people that think they’re more important than than other people. And that’s the biggest challenge. It’s like, okay. What is the priority? What’s the priority floors? Who goes in first? Who’s second? Set those priorities. Sometimes it might you might start at the top, work your way down. Sometimes it might be, you know, the people that got the most cache, know, who’s got the most cash, who is the most important person in the building, all that kind of stuff. But, typically, I try not to look at that. I try to keep everybody happy. You know, if you have a VIP in there, get them set to where they’re happy, but try and treat everybody the same way, and then do it systematically. And so and put it on a critical path schedule to where you they know when their time is to move in and then stick to it and be ready for any questions or anything that could go wrong. It’s very important. I’m I’m a client guy, and so it’s very important that you’re always listening to what the client’s, you know, asking for. And, you know, it’s our goal, you know, it’s you know, our mission and their expectations are usually, you know, ways apart. It’s our goal to narrow that gap. And we narrow that gap by alright. So setting up something systematic for how they come back in, you know, take care of the VIP people, make sure they’re happy, but treat everybody like they’re VIP even though there there will be some that will get special treatment just because, you know, they they are who they are. Makes sense. But be very, very, very systematic with it, though. You know, start at the top, go down, whatever it may be, whatever whatever, but have a system. Don’t just, you know, let everybody just show up and start, you know, going in and doing all that kind of stuff. It’ll be a nightmare for everybody. Right on. We had a question come in around equipment, which I think is gonna be a bit of a hot topic. What equipment is is needed to to kind get into, like, the the large loss, you know, space? And perhaps what do you see is typically owned versus rented? Talk to us generically about equipment, Tom. My my opinion is have your small equipment on-site. So on on hand. And so the equipment that you can use on any size project, so, say, residential, commercial, whatever it is, certainly small LG your LGRs, your air movers, your air scrubbers, have all of those in, you know, your your hydroxyls, whatever whatever you’re using. But have that equipment on hand, and then have a strategic partner then that has has the generators, has the the desking and dehumidifiers, any any cooling equipment, chillers, and all that stuff that you need that can bring it in to where you don’t have to maintain it, you don’t have to buy it up front. Now when you get bigger, as you grow, you might make some capital investments into equipment that you can maintain. You can have somebody on your staff that maintains them. But if you don’t have somebody on staff to maintain your equipment, then then we probably shouldn’t have that equipment yet. Now it can happen down the road, but for getting started, just have your LGRs, your air movers, your air scrubbers, and that will work on ninety percent of the of the large loss, you know, and then you can always fill in the blank, say, go back to our go back to our to our hotel, our our hospitality deal example. Say we we had our LGR’s throughout the hotel, but we wanted to do maybe 5-10,000 square feet of that with a bigger unit, with a a desiccant unit. And so we would get a generator and a desiccant unit for maybe the lower level. And then the rest would be all of our smaller equipment. So my advice to to smaller companies getting you know, preparing for large loss is have have your have a good inventory of small equipment, and a good inventory of that might be, you know, 200-400 air movers, and, you know, 100 LGRs, you know, depending upon, you know, your size and where you are and and the dollar value that you’re looking to get into. Thanks, Tom. And it doesn’t have to be LGR. It can be, Phoenix units or whatever, but I I don’t mean to don’t mean to go for one brand over another. So no. No. No worries. We’re going back to the payment side of things. We had a couple more questions come through around, justifying the draw or deposit on mitigation, specifically when the carrier is involved. Do you have any recommendations on language that you should use to perhaps be more successful in getting a draw deposit on mitigation when a carrier is involved? When a carrier is involved, I actually I actually like it better when they’re involved because you’re talking directly to them. And they’re expecting you to ask for for money up front. And it’s it’s expected. I’ve I’ve also represent rest restoration companies that are smaller and haven’t done large loss before. And one of our our first meeting that we go into with the adjuster is usually about the contract and usually about the, you know, our rates and everything. And the last conversation that we’re gonna have is we we’re requesting, you know, twenty five to thirty percent down. And one of the questions that I get all the almost every time is, can we do that? And I’m like, yeah. We can do that. They’re expecting it. So when you when you push that contract across and you’re asking for twenty five percent down, they they know that that’s coming. Now they’re not gonna write you a check right then. It’s gonna come, you know, a week to ten days later. So don’t count on them giving you, you know, a cash advance or anything like that. They’re gonna give they’re gonna give you your money up front, but it’s not going to be that very day. Now there there are some that that will do their wire transfer, some ACH bank bank transfers and stuff that can work on on some of the larger projects, you know, where we’re talking a million dollar, down payment or something that then they’ll some a lot of times, they’ll do that. Sticking with the payment themes, when it comes to a payment schedule, sounds like this individual bases it on benchmarks that are included in the initial contract. Is there a scenario where you would not be would it where that that would not be appropriate to follow those benchmarks, or is there a best way to propose the pay schedule other than benchmarks? You could use benchmarks. I I go off of time. And so you but you could do the same thing with you know, it’s really the same thing. So, you know, once we finish this month’s square footage, you know, we we get the next payment. Or it could be, you know, if we’re on a if we know we’re gonna be there for three or four weeks, then, you know, we want we’re gonna be invoicing every seven to ten days, and we’re gonna we’re gonna operate off of that. So whether whether it’s time or whether it’s actual physical production, what you’ve produced, square footage that you produce, it really doesn’t matter. It’s up to you. If you wanna use a benchmark of days or if you wanna benchmark on actual production, you can do you can do it either way. I’ve I’ve always done the days. You know, after a certain amount of days, you’re getting an invoice. And if everybody understands that from the very beginning, because it’s always remember, this is a business. You know, whoever signs our contract, that’s that’s who who is paying us, and the con the contractor and the end user. The contract is never with the carrier, and it’s never with the third party consultant. It’s always with the end user or the client. And, ultimately, that’s who’s responsible for paying our bill. The carrier will be involved on large projects, and they’ll be involved in that meeting. They’ll be sitting right beside the client. And, you know, it’s business. Everybody everybody understands it. And as long as as long as what we’re asking for is reasonable, nine times out of ten, there’s no issue at all. They shouldn’t ever they shouldn’t ever look at you and say that you can’t ask for money upfront. We got, Phil with a a great question. Thanks, Phil, for chiming in. Curious on how big the company should be before they take on, let’s say, a quarter million dollar job. Do you have any benchmark or reference for how big the business could or should be, Tom, to take on a quarter million doll dollar job? Well, you know, in my in my day, back in the day, I was we were we were a ten million dollar company. And so that’s not a big company by today’s standards by no means. And we landed the the World Trade Center in 2020 or two in 1993. We were there back in 2001, for under different circumstances. But in 1993, 8.8 million square feet. And that job is still the largest project ever done, and and nothing will ever we did it in sixteen days, so we had 4,000 people a day. So to answer the question about, we didn’t know that that was going to happen, and it was a holy ass moment. And and it was everything that we could do to put you know, we it cost us a million dollars in supplies right up front. And my answer then to that, to the question, is whatever you’re comfortable with. At that time, you know, we were a small company compared to the companies of today, but we had a lot of talent, and we believed that we could pull it off. Now if you believe you can pull it off and you have the resources, then there really isn’t a barrier on that on that entry, on on on what you what you should, you know, tackle. Because that was the largest project ever done. And we were a ten million dollar company. And and so the answer is if you feel comfortable in that and knowing that you you want thirty twenty to thirty percent, you wanna have that in cash just to cover, you know, your cost on a on $100,000 job or a million dollar job, whatever it may be, make sure that you’re you’re you’re comfortable with it. If you’re comfortable with it and you feel that your team is ready, you feel that your team is experienced, then you can make that that judgment decision, which is it’s a business decision that you have to make. And most of us, when you’re, you know, in in the restoration world, when that job comes around, you wanna be ready for that moment because you don’t wanna you don’t wanna have to turn it down because you’re not. And so that’s one of the things that, you know, why I mean, you know, also do training is is is to get people ready for that moment. For when that day comes and you and that job lands in your lap, you’ll you’ll just gonna look at and say, we’re ready. It’s time. And and that’s one of the biggest things. And so as long as you have, you know, thirty to twenty twenty to thirty percent of what, you know, that 100,000 is so that you’re you’re covered on your costs and you have the the knowledge and experience to do it and you feel good about your group, then I would say go for it. Do you have any tips going back to cost consultants, appraisers, and controllers? Do you get any tips for dealing with folks that try to renegotiate or bend or maybe find loopholes in the original agreement? Sounds like this company’s finding that after every new large loss, they’re looking to update their large loss agreement, their rate sheets, their conditions because people are finding new ways of maybe reducing their bill. Do you have any tips there? And and perhaps even, do we have, like, examples that we could share maybe as a follow-up, Tom, on what, a contract could look like? Well, there’s every consultant is different. And so when I’m when I’m consulting on a project, I’m looking at it through the eyes of the restorer. And sometimes, for me, I you know, being in the industry as long as I have, I try to you know, if the contractor needs, you know, some guidance and a little education, so to speak, you know, here’s what here’s how you need to approach this, here’s where you what you where you need to be, That’s the way that’s the best to me, that’s the best way to do it. Not everybody’s like that. They’re they they they don’t have the experience that that someone like I would have, so they just naturally go to where we’re just going to we just want to reduce your invoice for the sake of reducing. And I hate that, and I hate that that’s even happening in our industry, but unfortunately it is. And so my my advice is always be prepared to negotiate. Don’t pad your bill with things, but what you can do, you know, don’t pad don’t do any anything illegal. What you’ll do is you can have things in there that you’re prepared to negotiate on. And maybe, you know, your travel. Maybe you’re traveling and you have your travel marked up, ten you know, twenty percent. And the consultant might say, well, your travel, we want we’d like to see that as a pass through. So keep that in your pocket as a pass through, knowing that you’re going to you know, if if it comes down to negotiating, you’ll say, okay. Well, we’ll we’ll do the travel expense as a pass through. That means we won’t mark it up. It’ll it’ll be part of our cost of doing business. And and then that gives them something. But have those those things in there so that you’re you’re always have something to negotiate with. But don’t pad your bill thinking that they’re gonna take thirty percent of it. Make sure they can justify everything that they’re doing by asking them what what they’re using, what formulas are they what what are how did they get where they are? Know, what’s their square footage number? What’s their production rate that they’re they’re looking at? And you can you can start to have an educated conversation, and The Edge will help you do that to where it’s it’s here’s how we did it. How did how did you get to your number? So if your rates are good, your your time is good, and you’ve got everything documented, that’s the main thing is make sure you have everything documented, Make sure your labor, make sure you have your time sheets, make sure you have your sign in sheets on a daily basis. It’s all daily paperwork. Because if you’re missing any anything, and it’s the old saying, if you don’t document it, it it didn’t happen. And that that saying has been around since as long as it’s industry, and it’s very true. If you lose your if you lose a set of time sheets and you don’t have them, then you can’t prove it. So make sure everything is documented daily and it’s double checked and you’re ready. You’re because then, you know, somebody to come in and just arbitrarily, determine that they’re gonna lower your bill is they’re gonna have to prove it. But also, you know, I’m also a negotiator. So, you know, I’m I’m I’m one of those people, I believe that we I have I have something else to do. I’m you know, let’s get this done. Let’s move on. None of us have, you know, an abundance of time on our hand where we’re just, you know, man, I got I got so much time on my hands. I just wanna argue about bills and all that. No. Let’s get this done, negotiate it, and move on. Right on. Great advice. Thanks, Tom. On the topic, though, of documentation, you mentioned how important documentation is to helping yourself get paid. Is there any difference in in your eyes, like, when it comes to commercial documentation that differs from residential? Like, are there any tips for folks that are perhaps getting into the commercial space on what they should look for for documentation or documentation tools? The the best method is always even on your even on your residential projects, do them both the same. Do them both the same where you’re backing up everything that you do. Your invoice should represent what you what you did on the job. Your estimate is what you think you’re going to do on the job, but your invoice reflects what you actually did. And that reflection is in your labor sheets, your or whatever method you’re using, your labor, your time, your labor, your equipment, your supplies and materials. Everything that you’re doing on that job, you wanna document. Do that on your residential job, and you’ll it will auto you’ll do it automatically on the commercial job, and it will go so much smoother. You’ll get paid quicker. And I know, Dave, you’re gonna talk about, you know, the 吃瓜不打烊 tools that everybody can use to to make that happen and make that so much easier. Believe me, we I grew up in an age of where everything was written down on paper, and it was fax machines and all this nonsense. We have tools today where documentation is so much easier, but we still have the one one thing is we don’t have enough time, and people are always saying, man, we didn’t have we work we’re eighteen hours a day. We don’t have enough time. We don’t that has been the case for for forty years. And so the tools that we have today are designed to to utilize your time, do the paperwork, do the take the time that it that it it it takes to do the data entry. It’s easier now than ever, so there’s really no excuse. And so make sure we’re doing that. If we’re doing that on the residential side, then it flows directly into commercial. Thanks, Tom. I think what Tom and I were hoping to do for the next thirty minutes as we conclude this this session is to actually talk through and show you guys some examples of reports that apply to documentation, to the ROM tool, and for scoping. We talked a lot about, the production rate output, and Tom was talking about some of the production rate calculations. And I think it’s worthwhile showing an example of what a ROM and production rate could look like to help you guys, deploy some tools that are quite useful in the large loss space. So what we’re, what we’re gonna cover here is we’re gonna talk through some of the daily field reports and advantages of using daily field reports in the large loss space. We’re gonna touch on how standardization in reporting to clients that exceeds their expectations helps you win more jobs. It also helps you differentiate from competition. We’re gonna talk through some of the administrative burdens that are placed on a lot of large lost jobs. As simple as photo documentation and labeling photos can be quite costly and how you can use technology to automate that process and then how you can keep all of your teams from field to admin to sales from from the individual who sold the job to the team that’s producing the job in sync in real time. We’re then gonna touch on how to create a defensible ROM. Tom mentioned The Edge. That’s how Tom and 吃瓜不打烊, have partnered over the last couple months. 吃瓜不打烊 acquired The Edge and are building that entire system, and The Edge tool helps produce ROMs in a matter of minutes that are defensible and very applicable to jobs that Tom was talking about, especially that, World Trade Center example that I think a few folks were interested to learn more about. And then lastly, we’ll talk about how a scope can definitely align to a ROM and how an accurate scope can help, produce that invoice that is justifiable and can scale, on different types of jobs that you guys are are going out and responding to. So what we’ll start is we’ll go through an example report here where this is a daily field report that a lot of clients in the large law space that use 吃瓜不打烊 look to deploy to show their client any updates that happen from the field to their office, especially if the if dealing with a commercial client that perhaps has a corporate office not located in the region that you’re in, it’s a great remote tool to share progress. This report is quite small. It’s 25 pages long. But a lot of times when I’m dealing with clients, they’re talking a couple hundred pages. The table of contents can be navigated, through by the end consumer, whether that’s the cost consultant or the adjuster or your commercial client. And then any attachments, which could be your moisture reports, could be your equipment reports to justify the equipment you’ve placed on the job site, or it could also be your scope of work or your ROM so that you’re receiving or sending one package to your client as opposed to multiple packages. Few things to note here. Of course, you can take notes. Voice to text is an incredible feature in the field. You can easily speak into your device and have this translated for you. We then can talk through some of the examples that save a lot of time on larger commercial properties, like a floor plan. An example of a floor plan tool that a lot of our customers, use for large projects is the the Floor Plan tool in 吃瓜不打烊, where this is an 8,000 square foot building, took about 13 minutes to scan. So as fast as your team can walk, it’s one video, and this can directly import into Xactimate if you’re using that tool, but it can also be used as an artifact for your daily field report or perhaps for moisture mapping. The time savings here alone is quite impressive when it comes to 8,000 square feet scanned in 13 minutes. We then can get into some of the photo documentation. Each one of these photos, what I hear from people using us on large loss is that we organize the photos for, in this case, an apartment building where it’s organized by unit and room, all of the photos are easily labeled automatically for you even if you do export this and send this to a client. So you’re not having to label photos. You also can capture photos from multiple sources. So our tool allows for unlimited users, but you can also share with sub trades or temp workers, which is a very interesting use case, especially if we’re looking to scale up on the labor side of things. You still wanna have folks that are deployed to your job, leveraging a tool to help you capture documentation that backs up your t and m bill. We then can get into the moisture mapping workflows where oftentimes a lot of commercial restorers are looking to justify equipment and equipment calculations, where the IICRC S500 calculations can help you with that to, again, justify the equipment side of your bill, and cost consultants will definitely be looking for documentation in this space, or we can help you with your dehumidifier calculation, your air mover calculations, and then also provide insight into all of the readings across each drying chamber where you’ll see photoproof of each reading. On the last webinar we ran back a couple weeks ago, we talked about some of our AI features. And one of the features we’re launching early in twenty twenty six is that when you take a picture of a meter like the one you’re seeing here on screen, we’ll automatically fill out the temperature and relative humidity so your team doesn’t have to worry about entering that data. And when you think about a large commercial loss, I’ll leave it to your imagination, but I imagine it’s more than just a few readings you’re taking. You’re taking several hundred readings, which can save a lot of time in the field for your technicians. And then where I’ll wrap up on the daily field report is that you can send over, of course, moisture mapping details to show where the water migrated, all the equipment, where the equipment was placed, and all the readings. So really good visual documentation and justification. If you’re looking to customize this to meet the needs of your clients, we can accommodate that as well. And where we’ll go to next is talking about the ROM tool, which here’s a project cost estimate coming from the solution that Tom built with his expertise over the last twenty five to thirty years. And this can be included in your daily field report or your first report that you send combining the 吃瓜不打烊 report with The Edge report. So, Tom, why don’t you take us through this report and and the output of, what this cost estimate looks like from the wrong tool? Yes. And so what you’re what you’re looking at is the cover sheet, and this is a standard, time and materials cover sheet. It can also apply to Xactimate. You can use Xactimate rates in here as well as your time and material rates. And so this tool, as it’s built, can be used on either commercial or residential projects. And so what you’re looking at here is a breakout. Here’s your labor summary, your your associated project costs, your supplemental items are all in here. And then if you scroll down, Dave, to the next page, this here’s our breakout, and you’ll see up here at the top of the page, you know, we have 100,000 square feet, and you’ll see our production rate that we factored on this job was 160 square feet per person per day. By doing that, and Dave, if you look right there at our our labor, come down here to supervisor and production labor, production labor. Those two things are automatically factored the minute we we know our working days, the minute we know our our square footage, total affected square foot square feet or square meters, doesn’t matter. System works either way. In 160 square feet or square feet per person per day, that determines instantly how many people we need for a baseline for our project. And so then you simply add in labor like we did here. We added in another supervisor, four more supervisors, and, five more laborers. And so you can you do that as a as the estimator. You can come through and you can you can add as many people as you want. You can also take, you know, zero out, people that are that are automatically calculated in there. It’s all up to you. The more you use the system, the better it becomes and the better you become. And so you can just scroll down, Dave, and you’ll see, you know, everything that’s involved with this job. And so, what we what we did was an adjuster a few adjusters told us they wanted more detail, and so we started to give more detail to the to the adjusters and to the client. It’s easy to read. So on these two pages, you can you can go through with the client and show them very easily without going through page after page after page of line item. You can show them very easily what the job is gonna cost and why. And then down here at the bottom, there’s our square footage price. Down there, you remember everybody remember the two most important numbers are what’s your square footage number and what’s your production rate number. Your production rate up here at one sixty, and then down at the bottom, there’s our total square footage number at thirteen sixty. And I can tell you by just looking at this as an experienced consultant and an experienced restorer, there is no problem with this number whatsoever. And that’s to be yep. For context, how long would, this report take to to produce if you were using The Edge? Well, I depending upon your your how skilled you are. But, typically, this is gonna take once you do your damage assessment and you have all your information on the job, this is gonna take between ten and fifteen minutes. It’s the fastest, ROM estimating tool in the industry by far. There is nothing close. Looks like folks are interested in where we’re inputting these numbers. So, Tom, we’re gonna call an audible here, and I’m gonna open up, The Edge and Yeah. Show folks where we’re getting this information from. So here’s The Edge, folks. If you’re looking for more information, happy to to get get you get you guys set up on a a demonstration, or, we have a a promo too that I’ll I’ll talk about in a second. But here’s here’s The Edge tool. So, Tom, take us away. Well, if you if let’s start, let’s start here, and let’s enter in our 100,000 square feet. And then let’s start what was our 18 working days, I think is what we had on that example. And then and then it’s at one fifty right now, but that’s okay. Let’s just scroll down and show we will show everybody how instantly calculated our labor right there. Just go go back up, Dave, to our labor. Yeah. And so you can see it’s instantly calculated just by plugging in our square footage and our calendar days. It’s instantly calculated that we need four supervisors and 37 laborers. Now, these are our baselines, and what that means is this is our starting point. So now I’m gonna look at that, and I’m gonna use my experience and say, okay. You know, here’s where we’re gonna add the additional people. And so that’s how quickly how quickly that works. So if we go and this is our production rate calculator. And so if we click on hospitality, gonna give us a starting point at three zero five. Being slow right now. Might have been open for a while. It might have went to sleep on us while I was talking. So do 100,000, 18, and then we’ll just put hospitality. There we go. It was just open for a while. So do a do a fire and water. Do fire and water, and then click on level three, and then do it’s a level three contaminant level, which is gonna be water, smoke, fire. We have a description there. Also, content concentration. Go ahead and put that at level three also. It’s a hotel. It’s gonna have a lot of stuff. We’re gonna do two to twenty. Yep. Elevators. We’re gonna do the elevators. We’re gonna click on everything that applies to the job. So it’s contents, false error. We’re gonna do false error. No contain no containment on the job. The containment this would be for mold and asbestos only, and not a drying chamber, but containment is going to be a a room that we’re going in and out of PPE. And and so we won’t do that. Put it put it in a little demo and then HVAC. Alright. And so that puts us at one seventy four. Let’s live with that, and we’ll just plug that in, and now you’ll see that it hit well, let’s go back. We must we must have an extra zero in there. Go up to our square footage. Yeah. There we go. I like I like it. I like those extra zeros. But you can see when you hit a million square feet in eighteen calendar days, we’re we’re gonna need 300 people to do that for our 100,000 and 18 working days. We have four and 32, and then we’re just simply going to add to that based on our experience. So we’re going to add more production labor and or supervisor labor, and we just you know, then we go down through the whole system and and make the adjustments. And so I don’t know if you wanna go through the whole thing, Dave, or what are your thoughts? I think that gives people a good idea of how to input the data into the tool. And a lot of the insight that Tom was talking about is in that advanced calculator, and then you’re able to change the job as you see fit to produce a result that works for your business. The only thing I’ll note that I think is worthwhile, Tom, that that you’re big on is there’s an estimate range that folks can can leverage as the bomb tool is an estimate before the job starts. So you’re able to throw in five, ten percent. Think, Tom, you’re a big ten and ten guy. So Yep. Generally, ten and ten on the the low and high end, which gives you a little bit of wiggle room to play with, with the job depending on how it actually progresses. Yes. Now what we didn’t plug it, but you can see just by where where we’re at there, Dave, how quickly it calculates our first number. Now I can look at that five dollars square foot number, and I can tell you we’re not gonna do this job for five dollars in square foot, but that’s just because we haven’t gone back and added in our subcontractors and all of that. And so but you can see how quickly the system works. And and always when you’re estimating, get used to giving a range. Say, okay. Here on the low end, here’s where we’re gonna on the high end, here’s where we’re gonna be. Because it’s restoration, there isn’t anything perfect in in what we do, so we’re gonna be in this range. So if we get everybody on board, with that from the very beginning, then typically there aren’t any issues. Now if you get if you have somebody that want a specific number, then you’ll give them the the number that’s right in the middle. So you’ll have your low, high, and your middle number, and that’s that will be the number that you’ll give them. That way you have lots of, you know, wiggle room. The last thing that we want to do is estimate a project where we have no wiggle room to for anything to go wrong. And so, we don’t want to estimate projects like that. That’s, you know I’m here on the Space Coast in Florida. Nasa is about ten miles away. And and SpaceX, they don’t do anything, you know, they keep everything in a range, and they have to do it that way. Even with them, they’re not they’re not always dialed in to complete specifics until they get up to launch. Even the launch window is always a range. One question that came in, Tom, as we were going through the input is, does The Edge estimate pricing in specific areas or, you know, via specific insurance companies, or is it my own pricing that I can upload into the system? It’s your own pricing. So if you go back up to labor, Dave, in in right there, these are gonna be your prices. And you can see the prices that we have, and these are just for demo. Your project manager rate’s gonna be higher. You’re gonna have whatever rates you’re using either from your time and materials contract or from Xactimate. So when when we say that, it doesn’t matter what part of the world you’re in or what regions you’re in because you’re using your prices. So if you’re in you’re in New York City and you’re saying, wow, man, our prices are so much higher than anywhere else, doesn’t matter. This you’re plugging in your numbers in here, not ours. And so we have numbers in here as a default. And so but the but your it’s all based on what you, what you charge. And you can use exactimate rates, or you can use your time and material rates. It doesn’t matter. It’s up to you. Going down to the estimated range at the high level, question came in around, should you set the high end as your not to exceed based on the current known scope? You could that that could be a very good way to do it, and the way good way to look at it is that high number in your your you could use that as your not to exceed, and then the the carrier or the adjuster or consultant then would set their reserves then at that plus, what what they what they feel comfortable with. Because they’re the adjuster is always going to take your number, and then they’re going to add twenty percent to it or whatever for their reserve, you know, for their budget reserve. And so they never wanna they would never wanna find out that they you went over their budget reserve. And so it’s very important that we’re always communicating where the job is at all times so that nobody is surprised by our invoice. And so, because what we give them at the beginning, we wanna make sure that we’re as close as we can get. Typically, with this system, we’re within ten percent almost every time. Thanks, Tom. Yep. Fast input to get to the output that we were just showing a minute ago here, which is that two page report that provides quite a a good amount of summary for the cost consultant or adjuster to review on, the initial Yes. And and just think think about your client though too, Dave, because it’s like, you know, the client, when you sit down with an exact Exactimate not to bash on Exactimate. I mean, it’s a great tool, but it’s not user friendly for somebody who doesn’t understand what they’re looking at. You know, for, you know, the homeowner or the business owner, they’ll look at it and go, what is this? What does this mean? But with this tool, it breaks it out very simply to where it’s it’s not it’s not rocket science. It’s, you know, here’s our here’s what expected breakout to be. And so it really works out very, very well. Right on. Thanks, Gary, for the question on the not to exceed on current scope. And speaking of scope, the last thing that we wanted to just show off, and if people are interested to learn more, happy to, set up a demonstration. But here’s an example of a mitigation scope. We talked at a previous webinar or two about our new, AI scoping tool, and this was produced from photos, videos, and a sketch. So lots of detail provided from visual documentation that is gonna significantly speed up the scoping process, but then also improve the level of completeness and accuracy of that scope. So think about the opportunity to merge the ROM tool, which is producing an estimate for your team upfront with a very detailed scope of work to back up said estimate. So I won’t go through this in a ton of detail as we’re running close on time here, but I did think that it was worthwhile sharing that, you know, this is coming from, like I said, in some cases, a handful of photos, a video, and a sketch. So lots of detail that we can extract from our AI scope model that will be broken down in project task per room with summaries of the damage, square footage, volume calculations, affected materials, And you’ll see much of the same as I continue to scroll through. That’s awesome, Dave. Right on. Well, thanks, everyone, for your time. Really appreciate the hour and a half here. Hopefully, you guys got a lot of value out of the large loss AMA. If you did, we’re happy to run another one of these. Please take a look at The Edge tool. Please take a look at Tom’s training. Thanks again for your time, everyone. Really appreciate it, and hope to see you on the next webinar. If I don’t talk to you before the holidays, happy holidays, folks. Enjoy it with your loved ones. Take care. Thank you, everybody. Thank you, Tom. Thank you, Dave. It was a pleasure. Always always a pleasure.