Your mom may not be slipping on banana peels in her kitchen, but she might be slipping on that favorite rug by the sink! She may already question the safety of the rug, but has she ever wondered if there are other unsafe things in her house that she hasn’t thought of? Or better yet, what can YOU do to make your home more secure?

Your best resource for completing a comprehensive home security survey is a detailed home assessment checklist. A “home assessment” is a detailed checklist used to assess the safety and accessibility of a home or office. Home improvements are suggested on the checklist to improve home accessibility and safety for seniors, the elderly, and people with disabilities.

Some of the most important safety recommendations for a home involve the kitchen, bathroom, and entryways. For mom’s kitchen, a wall oven that has a convenient shelf just below the door keeps delicious, but heavy casseroles from falling out. Ranges with level electric cooktops ensure safe transfer between burners; front controls and downdraft features direct heat away; and a light that indicates when a burner is hot are essential features.

In the bathroom, there are many things that can be done to improve safety. To name a few, we would mention a folding seat installed in the shower; an adjustable shower head on a hose; and an anti-scald device to ensure that the water never gets too hot while showering.

Entrance areas are also critical points to review for security issues. You may want to include a motion-sensitive light at the entrances; a hallway with no slip-resistant flooring; a low or no-step entryway with a deck; side lights in the doors; and a surface to place packages while the door is being opened.

Non-slip, non-slip floor surfaces are critical in safety-conscious handicap-accessible homes. A non-slip material on your floor, such as wood or laminate with a matte finish, textured vinyl, or smooth-glazed ceramic tile will help prevent falls. Thresholds separating adjacent rooms should be close to the same level. Low-pile rugs that convert to flooring are better than softer, higher-pile rugs. Low pile carpeting and smooth flooring materials are also better for wheelchair maneuverability.

Finally, some accessibility items to consider if the mom is in a wheelchair or experiences a disability include a 30-inch by 48-inch clearance on appliances and a 60-inch diameter clearance for turning; pullovers with drawer loops; and lever handles whenever possible. A good home assessment checklist will also include information on safe electrical, lighting, and safety items; Heating, Ventilation and Air Conditioning; and stairs, lifts and elevators.

Referring to a detailed home assessment checklist will help you answer many questions about home safety for people with disabilities, seniors, and people who want to “age in place.”

If you need help assessing a home’s safety, you’ll find a directory of Certified Aging-In-Place Specialists (CAPS) on the NAHB website. Your CAPS specialist will schedule an in-home consultation to observe and evaluate your current living arrangement and help you create a safer and more affordable home for yourself or a loved one.

The work triangle is a simple set of rules used in kitchen design. While our kitchens are getting remodeled, updated, and more complicated, the tried-and-true methods of efficiency still seem to work. The work triangle rules go something like this:

1. Study the movement between your refrigerator, cooktop, and sink
2. Each leg must be between 4 and 11 feet
3. No more than 30 feet total
4. No section should cross through the flow of casual traffic.
5. Make sure your dishwasher is one step or less from the sink. Is there enough storage in the upper cabinet near the dishwasher? Ask your installer/designer to reverse the door hinges if necessary to avoid reaching into open doors. Don’t get caught in a corner while the dishwasher door is closed.
6. But, there’s so much more to efficient design that most homeowners don’t consider. Consider the current design of your kitchen. Is there enough storage space? (food, dishes, pots and pans) Enough countertop or work surface? (food preparation, small appliances, open storage) Is there a specific area where you constantly bump into other people? Or hit your hip against a counter? Do you have to reach around an open cabinet door to access the contents?

Blind base cabinets can be incredibly difficult to use. Although better than empty space, these corner cabinets will usually require you to get on your knees to reach the items in the back. Even lazy susan and easy access cabinets aren’t as user friendly as you might think, so think twice before designing this expense into your kitchen. The cabinets above your refrigerator should also be used for rarely used items. Even 24-inch-deep wall cabinets should not be considered for heavy-use items.

Pull-out shelves are a great investment for your low cabinets. Consider how difficult it is to access an item that is stored on the back of a fixed shelf. Again, you don’t want to have to get on your knees to rummage through your stuff. Pull-out trays are relatively easy to install and considerably cheaper than overkill on “all drawer” base cabinets.

Another useful piece of hardware is the base cabinet trash can bracket. Available at most home improvement stores and easy to install. A trash can behind the door can be functionally sanitary and integrate beautifully into your design.

Look to your designer if you’re trying to fit your refrigerator against a side wall. Many newer appliances are designed with extra deep storage bins in the doors, so a full 180 degree door swing may be required to access the center drawers or internal extensions.

Also, try to avoid putting your microwave above shoulder height. I know most designers like to put the microwave on top of the stove, but consider how dangerous that can be for you or your children. Remove hot liquids. The countertop or even under the counter is a much easier place to use.

Have you ever found yourself looking for someone? Have you tried to find someone who hasn’t been a part of your life for a long time, maybe a long lost relative, a friend from college or trying to trace your family tree? Unfortunately, if you’re trying to find someone you haven’t seen in a while, you need to prepare yourself for the possibility that they may no longer be alive. What many people find, however, is that they don’t know if the person is alive or not. While comprehensive databases exist for searching public death records, not many people know exactly where they are and how they can be accessed…

Basically, there are two ways to search for deceased people. The first is through the use of death records. These records are an official record of a person’s death and can contain very important information, especially if you are conducting an investigation and trying to find out who a person is. This includes the names of surviving relatives, the name of your spouse, the date and time of birth, and the official cause of death. It will also contain their last official address, something that can help you find the next most important record of the person’s death.

An obituary is something that is completely unofficial. It is usually an account of the person’s life and is written by someone very close to the deceased person, usually a close friend or family member. In some circumstances, particularly with people who have been ill for a long time, the deceased person will write their own obituary. It can be an amazing resource if you want to take a peek into the person’s personal life. You will learn who they are and what they have accomplished throughout their lives. They will also provide a list of surviving family members, some of whom may be off the official death record due to divorce or other legal circumstances.

As you can imagine, there is no specific place designated for obituaries. They are usually published in the local newspaper, but which one is variable. Sometimes they are published in the newspaper where the person was born and sometimes they are published in the local newspaper where the person last lived. Either way, it’s almost impossible to say for sure where it will be published.

Fortunately, there are sites that keep track of both of these types of records, and you can search them for free.

Due to the high cost of living, startups have become quite difficult to venture into. In fact, most people, especially people with minimal income, have been unable to start a business due to the high cost of starting a business. But one only needs to think big and start small to achieve these business goals. Small business ideas to make money are the benchmark for successful business ventures. In fact, most successful businesses are started from scratch.

The concepts of starting a business or investing wisely are based on how well one wants to succeed and what path one wants to take to achieve success through entrepreneurship. These business ideas form the platform for achieving this distinctive goal in business. These small business ideas to make money can be anything from:

Investing in the stock market, trading currencies, buying and selling cars, insurance, and gardening provide the best incentives to invest wisely.

Most of these ideas and schemes to make money have their different modalities to achieve them. These ideas can also be;

Online business schemes like affiliate marketing, online service provision, blogging photography and even selling goods and services online.

Thousands of smart investors today sell services online. Initially, this was a small business idea to make money, but gradually it has transformed into a successful business. You can sell cars online. People are now buying vehicles online, all you need is to have legitimate contacts with car dealers and their banks and you are good to go. You will earn a large amount of income from such practices. Most of these ideas often transform from a few dollar investment to a multi-million dollar investment venture.

If you’ve owned a home and paid off your mortgage over the years, you know that the first 10 years are almost all interest payments with very little principal.

There is nothing wrong with buying a home as long as you can qualify. That means a good down payment and a steady job. None of that nonsense with no money down. Buyer must be serious about monthly mortgage payments and have a good job. Banks are reviewing these days.

The financial community in the recent past has been forced to make mortgages to those who did not qualify with no money down and had no serious intention of paying if it became financially uncomfortable. It’s too easy to walk away.

The true cost of owning a home is not just the monthly mortgage payment. In a new home all appliances, plumbing, roof, pool equipment, window frames, etc., etc., all have an estimated life expectancy after which they need to be replaced.

Buying an old house means that all of the above will happen sooner. Replacing or repairing can be expensive.

The true cost of maintaining the house is the mortgage payment plus upkeep. Oh, and let’s not forget about taxes. Then there is a little thing called insurance that is required by the mortgage holder.

The industry calls it PITI = principle, interest, taxes and insurance. Depending on the length of the mortgage and whatever your down payment is, it typically comes out 10% per year of the sales price divided by 12 or 1% of the sales price each month.

If the house is $200,000, that’s about $2,000 or close to $2,000 per month.

If you are 55 years old, do you want to assume that obligation? Wouldn’t it be smarter to rent? If the same quality house can be rented for $1,200 per month, the renter could save the difference of $800 each month and in 10 years at retirement would have $96,000 plus interest. I can guarantee you wouldn’t have that in home equity if you bought the house when you were 55.

Plus, renters pay significantly less for renter’s insurance and have the ability to move to a new location at any time. Tenants don’t have to put on a new roof or replace an old water heater. No major out-of-pocket maintenance costs.

How about a 6 month rental in Canada for the summer and 6 months in Florida, Mexico or the Dominican Republic for the winter? The only extra would be travel expenses.

With so many rentals available, foreclosure prices are still not a great buy. If a person wants to buy, there are still about 4,000,000 more distressed properties to come on the market in the next 2 years. The prices will be even lower than the current ones.

Do the numbers before you buy.

Some people start their real estate careers right out of high school or college, but most get into real estate after doing something else. Some have retired and others are just looking for a change of pace.

When I write agent biographies, I always look at those past careers to see how they might tie into real estate sales. Often past experiences can reinforce the skills the agent wants to emphasize.

Some past races make the transition more difficult than others. For example, schoolteachers have to learn to listen for themselves after years of doing the talking. On the other hand, a good schoolteacher has the skills to educate buyers and sellers about the reality of today’s market.

That’s a skill a bartender might not have, but I believe that good bartenders possess most of the skills necessary for a successful career in real estate.

My definition of a good bartender is one who has a following: a person who is an “attraction” to the establishment where he works. They can make a good drink, but it’s their people skills that turn occasional customers into “regulars”.

So what skills do bartenders possess that would make them good real estate agents?

A good bartender knows how to listen. Just think of the time they spend listening to their customers. And while they may not have to listen wholeheartedly to everyone, they do need to pay close attention to their regular customers. Just like good real estate agents, they must pay close attention to their buyers and sellers.

And then they better have A good memory. Not only does he (or she, of course!) need to remember what each person at the bar wants when they raise a finger to order another drink, he also needs to remember what to place in front of a regular customer when he walks in. And then he needs to remember what that person does, the names of her children, etc. Agents must remember personal information along with the wants and needs of their clients.

A good bartender respects what the client wants – is not trying to suggest that something else might work. As an agent, you probably won’t show someone a house on a busy street if you’ve specified that you want to live on a quiet cul-de-sac.

A good bartender can talk to people from all walks of life. and treat them equally. You should be friendly and nonjudgmental, except in the most extreme cases. And in those extreme cases you have to think and act fast without getting dazed. Good practices for dealing with surprise buyers and sellers sometimes arise in an agent.

A good bartender knows how to keep information confidential. Good waiters can’t be gossipers. Can you imagine how quickly they would lose followers if they started mentioning that Mr. Smith came to have a drink with Ms. Jones, or if they mentioned that a salesperson from company X was involved in a long conversation with the owner of the company? Z? ? In real estate, it is imperative to maintain the confidentiality of client information.

A good bartender has to have people management skills.. You need to be able to say “You’ve had enough” without turning a customer into an enemy. That requires a bit of finesse! This skill could translate well into the finesse needed when clients ask an agent to do things that go against regulations.

So if you’re a bartender thinking about a change, consider real estate. You have the skills!

The sum of the outstanding principal balance plus increased interest may actually overstate the value of the note

A little known fact

At first glance, the fair market value (FMV) of a note, secured or unsecured, appears to be easily determined. IRS Treasury regulations assume your value is unpaid principal, plus any accrued interest and late fees as of the valuation date. To value the grade for less, satisfactory evidence must be presented. Evidence of lower valuation can be one or more factors such as: interest rate, payment amount, payment frequency, duration, collateral, payment history, or credit status of the borrower, to name a few. only some.

A qualified note appraiser can set a lower value or even a zero value of no value; the lower FMV reduces the taxable valuation of the note. This fact is not widely known, even to many CPAs and lawyers, but it is of great importance to the person who pays unnecessary taxes.

Fair market value differs from book value

Book value, cost and outstanding balance are accurate historical facts. Its accuracy is not in dispute. But, FMV (the preferred IRS definition) refers to the “market value” of the note, its current sale value, not its historical cost or unpaid balance. These two points of view result in two values ​​for the same promissory note. Only one value is adequate for tax purposes.

Defined Fair Market Value

The definition, as defined in Section 1.170A-1(c)(2) of the IRS Regulations, is “the price at which property would change hands between a willing buyer and a willing seller, without being under any obligation to buy or sell and both having a reasonable knowledge of the relevant facts”.

tax implications

A taxable event can be any of numerous events. Some examples are the sale of a note, the transfer of a note from a Traditional IRA to a Roth IRA, the gift of a note, or the need to value a note in an estate or trust. In all of these situations, the historical cost, book value, or outstanding balance of the note may differ materially from its current fair market value. Typically, the FMV is substantially less than the book value and the tax will be substantially less.

General conclusions

• The fair market value of a note is usually less than its unpaid balance plus increased interest.

• The IRS calculates many taxes on fair market value, not cost or book value.

• Many CPAs and lawyers don’t know that promissory notes are not “valued” at what they appear to be; they often overestimate the bill and overpay the tax.

• The valuation is determined based on the definition and evidence.

• A qualified and experienced note appraiser can produce a fair market value report that meets the IRS definition and regulations. The fair market value is usually less than its book value.

Complaints about rising rents from Dubai residents are increasing due to unreasonable increases being demanded by the landlord. There is no federal law that determines the rent cap, each emirate has its own laws.

For the emirate of Dubai, Law No. 26 of 2007 regulates the relationship between landlord and tenant and establishes rental rules. Regarding rent, the Supreme Court of the Union has indicated that “the effect of the provisions of a lease (lease contract) provided for in articles 742 et seq. of the Civil Code is that the rent is paid in consideration of the enjoy the leased thing”.

(It should be noted that the Dubai Law No. 26 of 2007 is applicable throughout Dubai, except for the areas covered by the DIFC zone, as real estate in the DIFC zone is regulated by the DIFC Law No. 4 of 2007) .

The law defines rent as a specified amount of consideration that the lessee is obligated to pay under the lease. The lease is the contract by which the lessor agrees to allow the lessee to benefit from the property for the specified purpose and period in exchange for a specified consideration and therefore the amount of rent will be specified. in the contract and will remain the same until maturity. of said contract.

In addition, the law provides for the determination of the value of the rent in the event that it is not provided for in the lease or when the rent is determined but it is not possible to prove it. In such cases, the Committee, that is, the Judicial Committee authorized to resolve disputes between landlords and tenants, must determine the rent of the property thus leased in accordance with the ‘similar rent’. The ‘similar rent’ must be specified by the committee in accordance with the Real Estate Regulatory Agency (RERA) rent increase percentage specification standards. In addition, the general economic circumstances in the emirate, the state of the property, the market rent in the same area and the existing legislation are factors that must be taken into account when determining the similar rent. RERA must establish criteria to determine rent increase rates in the Emirate, in accordance with the general economic conditions of the Emirate.

Any dispute related to the rental of the leased premises should be referred to the committee, as the committee’s jurisdiction includes all such disputes.

At the expiration of the lease, it must be renewed for a similar period and during the renewal the lessor can modify the contractual terms. You can review the rent you can keep at the same rent amount or you can increase or decrease it. The rent thus increased or decreased would be valid during the period of the lease. For the lease to continue in force, it is essential that the lessee agrees with the terms thus modified by the lessor, if the parties do not reach an agreement, the Committee may agree on a fair rent. If either party to the lease wishes to modify any of its conditions, it must notify the other party at least 90 days prior to the expiration date, but this condition may be waived by agreement between the landlord and the tenant. tenant.

The law also sets a ceiling on landlord rent increases so that landlords do not take advantage of the vulnerable position of tenants and exploit them through unreasonable increases in rent rates. Additionally, rent cannot be increased during a lease. It can only be increased after the expiration of the previous contract, so the rent will be maintained for a period of one year from the beginning of the lease.

In addition, the Dubai Decree No. 62 of 2009 relating to rental prices in the emirate of Dubai has fixed the maximum increase in rents for properties in the Emirate of Dubai according to the average rent of properties in the same area and the percentage difference between median income and current income. Thus, depending on the difference, the increase can be up to the following limit:

Yo. zero increase in rent in the event that the rent is up to 25% below the average rent of properties of similar specifications;

ii. 5% of the applicable rent in the event that the rent is 26% to 35% less than the average rent of properties of similar specifications;

iii. 10% of the applicable rent in case the rent is 36% to 45% less than the average rent of properties of similar specifications;

IV. 15% of the applicable rent in case the rent is 46% to 55% less than the average rent of properties of similar specifications; and

v. 20% of the applicable rent in case the rent is more than 55% less than the average rent of properties of similar specifications.

Apart from this, the Dubai government has provided us with an online rent increase calculator at the following website: http://www.dubailand.gov.ae/english/Tanzeem/Rentals/Rental_Increase_Calculator.aspx

The aforementioned government website provides a service to calculate increase percentages to obtain rental values ​​in certain areas as a guidance tool. All the user has to do to use this service is to select the calculator from the website and enter the required details and then the increase limit and average rent for the requested area and unit will be provided.

Tips to avoid an illegal rent increase:

1. Make sure the landlord has notified you in writing of the proposed rent increase no less than 90 days before the end of the lease.

2. Verify that the increase amount matches the RERA rent calculator for your property.

3. If you cannot come to an agreement with your landlord on the amount of the rent increase, apply to the Rent Committee.

What is a Luxury Portable Toilet Rental?

Renting a luxury portable toilet is a good option. They are ideal for any special event, festival and film production. The deluxe bathroom trailer is a large trailer that has different bathrooms inside it. They have running water, lighting and offer the user the feeling of a traditional bathroom.

Features of a Deluxe Portable Toilet Trailer

These features may vary. But, here are some of the more common features discussed:

1. Climate control includes heating and air conditioning.

2. Running water for toilets and sinks.

3. Recessed lighting to enhance lighting along with security.

4. Mirrors to get ready.

5. Countertops that help make grooming much more convenient.

These are some of the common features that you can find in almost all luxury bathroom trailers. Read on so you can learn about the benefits of choosing a bathroom rental for your event. These benefits perfectly highlight the reasons why you’ll need to rent a bathroom for your place.

Luxury bathroom rentals fit almost everywhere

All events are unique and you will have to meet different requirements to make it a success. When you rent mobile restroom trailers, you’ll get the flexibility you need for an event. Both smaller and larger units can be purchased. No matter how intimate your gathering is, luxury rentals help you take care of your sanitizing needs at your event.

Disposable toilet trailers offer versatile and impressive outdoor options. Plus, they’re a great alternative to your home bathroom.

Easy access

When guests are invited to an event, they want their needs met. Placing your rental in the right place will always be a beneficial move. When you choose an accessible location, you will keep people comfortable. Meet your customers’ expectations by placing your portable rentals in an easily accessible location.

supreme comfortable

You’ll be able to provide your guests with extreme comfort and relaxation when you select a clean mobile restroom rental, Modesto. Nobody wants a smelly bathroom. Provide your guests with the desired comfort of home. It can only be done when you select to have bathroom rentals from the right place.

Amenities included in the bathroom rental include running water, lights, a mirror, and much more.

Mirrors

Every guest wants to look their best every time they attend an event. It can get difficult without a mirror. Many event spaces may not be able to provide you with this facility. Provide your guests with a quick touch-up space and reflect the need before capturing the moments.

superior cleaning

A mobile toilet trailer helps you offer the required convenience. There will be no shortage of paper towels or soap dispensers when you select a bathroom trailer. Don’t let it become a reality. Don’t sacrifice your event with a messy toilet.

Luxury bathroom rental, Modesto provides guests with the desired comfort. When he chooses them, he will get an ample amount of space. In addition, he ensures sanitation at your event.

Atmosphere

Make sure your guests get the desired vibe. When planning your event, guests need to feel special. Renting a luxury toilet trailer will help you make a difference. They are equipped with the best comforts and a sophisticated appearance.

Portable toilets help create the right environment for the meeting you need. Thus, it will automatically help make your event a success.

For those looking to get into real estate investing in today’s market, there is a unique way to earn a profit without the need for cash or credit, and without the risks or headaches of owning rental properties. In this article, I’ll show you how you can put unsalable homes under contract subject to your existing mortgage, and then assign the contract to a buyer who hasn’t been able to qualify for a mortgage. Your profit is on average about 5% of the purchase price.

This is NOT Assignment of Mortgage

One of the latest fads making the rounds on the internet right now, and the email inboxes of many investors, is a concept called Mortgage Assignment. For those unfamiliar with this, it sounds like you’re just assigning a mortgage from one person to another. Note that this is not the same as a mortgage assumption in which the lender legally transfers responsibility from the seller to the buyer. Rather, a mortgage assignment is nothing more than assigning the payments to the buyer, while the seller holds the mortgage in the buyer’s name. In the Mortgage Assignment program, the underlying transaction remains a dirty issue for the existing mortgage. In either case, the seller of the property is still in trouble, credit-wise, if the mortgage is not paid. What it will do is find sellers who are willing to sell their property subject to the existing mortgage and market that property to a buyer who has some cash, but cannot qualify for a mortgage under today’s more stringent underwriting standards.

Why you don’t need to be a real estate agent

One of the first questions that arises is how can you do this without being a real estate agent? Well, it’s simple. What you will do is get the seller to agree to your placing a purchase option on his property. You will market his interest in the property to other buyers. This is not unlike marketing your property to buyers like FSBOs.

Description of offers “subject to”

In a “Subject To” or “Sub2” offer, you are buying the property subject to existing financing. This means that the existing mortgage will not be paid. If there is equity in the home that the seller wants to collect, the buyer would need to have the cash on hand or the seller can agree to make the payments in the form of a second mortgage. Typically, a Sub2 deal is done when there is little or no equity in the property, because the seller can’t pay the mortgage at closing, pay the fees and commissions, or both. The alternatives to this are a short sale or foreclosure, and neither is easy or pleasant.

The biggest problem one faces with Sub2 offers is something called the Expiration of Sale Clause. What this means is that when the property is sold, the lender has the right to call the mortgage due, which means that the buyer would have to refinance the property from the seller who is facing foreclosure. However, in the experience of almost all Sub2 investors, not once has a mortgage been called to maturity on the sale. Many gurus teach all sorts of tricks to prevent the lender from being notified of the sale, including a land trust and a deed, but others will teach you to be honest with the lender and not lie or hide anything. The way a lender usually finds out about the sale is not when the new deed is recorded, but when the homeowner’s insurance policy has a new owner. In my Find and Assign package, I explain the sale expiration clause in more detail and why it’s not something you need to worry about.

The seller’s dilemma

Right now the market is perfect for making Sub2 assignments. Many houses are now under water, which means the seller owes more on the mortgage than the house is worth. There are sellers who can no longer afford their mortgage payments and are struggling to make the payments each month or are behind on their payments and are facing foreclosure. In Find and Assign, I have a matrix that shows the various options a seller has to get rid of their property, along with the costs for each. If you can show a seller how you can walk away from your property and make your mortgage payments without affecting your credit, you have a motivated and receptive seller to your offer.

Buyer’s dilemma

In the past, all you had to do to get a mortgage was fog up a mirror. This means that you simply had to be alive! Banks and mortgage companies made loans to anyone who could fill out an application. There were no-document loans, declared-income loans, and subprime buyer loans. Initial payments are as low as zero. Fast forward to today. Now, you must prove your income, provide two years of tax returns, bank statements, and have a credit score above 680. What we have now are buyers who a few years ago could get a mortgage, but now can’t. . So you’re in the perfect position to sell unsellable homes to unsellable buyers, all by simply having the seller make a call option attached to the existing mortgage and assigning this deal to a buyer for a assignment fee. The new buyer obtains the deed at closing and pays closing costs.

find sellers

There are many ways to find sellers, including posting ads on Craigslist and newspaper classifieds. A sample ad might say, “We buy houses with little or no equity. Don’t make any more mortgage payments.” A great way to find sellers is to call real estate agents and ask them to provide leads on those who want to sell but can’t because they can’t come up with the cash to work out a deal. You can offer the agent a referral fee. If the agent is honest and says they can’t agree to a referral fee, you can still legally pay the agent by having the agent become your buyer’s agent. When you get the house under contract and then assign the contract to the final buyer, at the time of liquidation, the agent will receive his legal fee, depending on what you agree. In Find and Assign, I go over many other ways to find vendors for the Sub2 Assignment program.

find buyers

Of course, you need buyers to complete the deal and make money. You can find buyers by posting ads that say “Buy a home that doesn’t qualify for a mortgage. 10% cash required.” You can run these ads on Craigslist and newspaper classifieds. You can also call mortgage loan officers and ask for leads on those who want to buy a home but can’t qualify for a mortgage. What you may need to do is simply give these loan officers your information and ask them to give it to would-be buyers. You can offer a fee to the LO on any deal you make.

Writing the Agreement

There are two ways to do this. One way is to write a simple real estate purchase contract, where you write “and/or assignees” after your name. In the purchase price section, you would write the price, then “subject to existing financing as detailed in Appendix A. In the appendix, you would list the balance of the mortgage(s) on the property and the existing monthly payment.” no special forms are needed. It’s just the wording you should use. The second way is to write a call option on the house, using the same theme for the language. It would then assign the purchase contract or option to the new buyer. If you use a purchase agreement, you need to make sure you have the proper escape clauses that allow you to walk out of the deal if you don’t find a buyer. You do not want to actually buy the property. And that’s what the contract says. With an option to buy, the seller is giving you the right to buy the property, but you are not obligated to do so. If you don’t find a buyer to assign the property to within a 90-day Period, you simply walk away.

When making these deals, there are also some statements that must be signed by the seller, namely disclosing the fact that the sale is subject to the existing mortgage and that the mortgage will remain in your name. It also discloses the potential of the Sale Expiration Clause. What I always suggest is that before you start on this, find a real estate attorney who has done Sub2 deals before. You can find one the same way I did, on Craigslist! In Find and Map, I share with you how I did this and what questions to ask. You may also need a title agency to close the deal, and I cover that in Find and Assign. Your real estate attorney should also know which one to use.

Close the deal

All you really have to do is get the ultimate buyer to write you a certified check for your transfer fee after doing their due diligence on the property, including a title search, inspection, etc. The title search will show you any and all liens that are attached to the property, along with any judgments on the owner and any back taxes that are owed. You can use any title agency to do a search. The fee would be around $60 or less. You can have the buyer do this or have the seller do it and make it available to potential buyers.

When you have a buyer for the property, you want to refer them to your real estate attorney to close the deal. In this way, you have done your part to bring the two parties together and thus earn your allowance fee. The key is to have a real estate attorney involved in these deals and not try to close a “kitchen table.” You don’t want the seller or buyer to approach you because you didn’t disclose everything you should have. If you do this right, you can earn a reasonable income by assigning just one or two properties per month. If you do a search online, you can find pretty much everything you need on forums and other sites. There are no special forms other than the call option, call option assignment, purchase agreement and of course the CYA disclosure form. Other forms that are involved are an Authorization to Release Information and perhaps a Power of Attorney. If you find a real estate attorney who has done these deals, this person can provide you with all the forms you need.

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In my Find and Assign package, I give you much more detailed information on how to do Sub2 Assignments. All of this is in one of the 42-page guidebook bonus packs, plus all the forms and agreements you need, including a very detailed disclosure form. I teach you many ways to find sellers and buyers, and even show you how to get others to search for properties for you with no money up front. Along with this, you get a PowerPoint package that you can use with sellers, along with other helpful tools and resources. There is no need to spend hundreds of dollars on courses or workshops. Once you understand how to find buyers and sellers, and you know which forms to fill out, you can start doing it with very little cash. All you really need is the motivation and dedication to place ads online and what to say to callers from your ads. In Find and Assign, you even get scripts and information to send to sellers and buyers.