Protecting Your Real Estate Is Good Business


We like to promote positive business principles here, including protecting your businesses and assets so that you don’t have any degradation with income or any depreciation.

One of the most common wealth building methods is through real estate.

Although there are several ways to build wealth in real estate, there’s one common factor  — it involves a physical property.

If you’re someone who is investing in a project house or simply trying to flip a home for massive returns, a lot of what you’re doing involves numbers, and making sure those numbers are right.

There are two common things that people tend to forget about when investigating a deal.

They are so concerned with the purchase price, the rehab cost, and the stack of bills they’re going to make as profit that they forget to protect their investment.

Insurance can save your deal

Like with Hurricane Harvey or with the more recent Hurricane Florence, flooding has and will always occur.

The worst is when you’re in the middle of a project and your house gets flooded.

Worse yet is if you have several rental properties and multiple get completely flooded and need massive overhauls.

In both storms, there were plenty of rental houses that didn’t have any flood insurance, which meant that they either had to get rid of the properties (how ironic) or had to come up with the repair costs out of their own pocket.

The ones that did have insurance?

Well, they got off pretty well.

They repaired the home and got to keep some cash in their pocket.

Flood insurance is massively important for seasonal things like this, and home owners insurance will help cover issues that might happen with a home, especially if it’s an older one.

Home inspections will reinforce your numbers

While insurance gets put into place when you already have the home, we have to consider the beginnings.

When checking out a house, a lot of new investors make mistakes when understanding what state the house is in.

Veterans also tend to get things wrong if they don’t know quite what to look for.

Some issues with homes tend to be things that you can’t yet see.

They’re bubbling up to the surface over time and might sprout only after the investment has already been made.

Home inspections can use certain tools, like thermal cameras, to identify potential issues in walls.

They also have a large checklist that goes over many points of the house, knowing what to look for, and how to identify hidden issues.

Common ones include electrical wiring, foundation, plumbing, and infestations.

These are all things that can be hidden until something happens like an electrical fire, a leak, or termites are suddenly eating up your front door.

Any of these things can set you back several thousands of dollars and ruin your deal, potentially causing you to pull out everything you would’ve made in profit.

That’s not OK when it comes to investing, and it’s easily avoidable.

Getting an investor-friendly home inspector to check out the property before you sign the contract can prevent all these unexpected costs from surprising you.

Keep your numbers realistic

If you’re going to flip a house, make sure that you have your numbers as realistic as possible.

Consider the position of your lender — how are they going to ensure that there’s enough buffer and spread for everyone involved?

Lenders know that flippers tend to be optimistic on their numbers.

The ARV is a bit high, the repair costs are a bit low.

So, what is the best strategy for them?

They take the ARV and deduct 20% from it, and they take the repair costs and add 20-50% to it.

What do those numbers look like?

That’s how they’ll assess risk, and they’ll judge it based on how close or far it is from being way too tight.

If there’s not enough money in that spread, then they know to what degree mishaps can occur and how much money will be left over.

At that point, some might actually categorize deals in tiers, knowing which is a low-risk compared to a high-risk.

So factor that in when you take a look at a property.

What would your lender think, and how would it appear to them from their perspective?

They have to make money, too, else they wouldn’t be interested in lending to you.

Cover your bases and you’ll be alright

These tips are important because they can bring you three different angles on protecting your investment and picking the right deal.

Knowing what state the structure is in, protecting it with insurance (and knowing the costs of doing so), and knowing the numbers so your lender will be comfortable are all good practices to make your deals run as smoothly as possible, despite any drawbacks that may occur.

We’ll continue to post more about real estate here, so be sure to look for updates on our homepage!

Here’s a video related to asset protection, which is just as important when it comes to managing your real estate properties:

How To Find A Great Staten Island Divorce Lawyer

If you are going through a divorce, you should think about hiring a legal representative. You are going to need a divorce lawyer even if you can settle things out of court with your spouse. Your lawyer will advise you, prepare your paperwork and help with the division of assets and debt between you and your spouse.

Brought to you by Michael Walker Law

Ask For Recommendations

Do you know someone who recently got divorced? If you know them well, ask them which lawyer they used and what their experience was like. You might be able to get some recommendations by talking to friends or co-workers. You might also find out which law firms or local lawyers should be avoided.

Contact Divorce Lawyers

You should contact a few different divorce lawyers in your area. Ask a few questions about their current workload and find out if they would be interested in helping you. If a lawyer is too busy to answer a few questions on the phone or if you cannot schedule an appointment without a long waiting time, it is best to keep looking.

Schedule A Free Consultation

Most lawyers will give you a free consultation. You should schedule a free consultation once you have found a divorce lawyer who seems interested in your case. Prepare a few questions to find out more about this lawyer’s background and track record. Bring any documents relevant to the divorce so they can find out more about your situation.

Find Out About Their Background

You will get better results if you hire a lawyer who specializes in divorce and family law cases. Specialized lawyers will have more experience and will be able to advise you on the best course of action based on what they have seen happen in similar situations in the past. They should also be familiar with issues like child custody, child support, visitation rights and asset and debt division.

Ask About Their Track Record

A good divorce lawyer should give you realistic expectations regarding your divorce. Do not choose a lawyer who says the things you want to hear or who promises you a positive outcome before knowing all the details of your case. You should ask a few questions about their track record and make sure they have a history of helping their clients get the results they want, especially for cases similar to yours. Don’t hesitate to ask for some references so you can get in touch with some of their former clients.

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Take the time to meet with a few different divorce lawyers in your area so you can compare their fee structure and their background. Look for a lawyer who has enough time to work on your case, who has experience with similar cases and who asks plenty of questions about your situation during your free consultation. A great divorce lawyer should always have your best interest in mind, advise you on the best course of action and give you realistic expectations regarding the outcome of your divorce.

Hoover’s New Food Delivery Options

“There’s an app for that.” Now there’s an app for food delivery – in fact, many of them. Lately, there have been an influx of multiple types of third party food delivery services in Hoover via apps, and here’s what you need to know about them.

Who Does It Affect?

Everyone! Consumers as well as restaurants. The benefit to restaurants is that they no longer need to have their own drivers on staff. They can sign up for Waitr and let them take care of the drivers and logistics. By paying a nominal fee per transaction, their outreach is potentially multiplied. For consumers, they now have access to restaurants that they would otherwise have to drive through the terrible Hoover traffic to enjoy. Now, you can order in advance and avoid the heavy traffic while you’re just trying to get home at a decent hour.

What Are My Options?

Well, there are a number of options now. UberEats, Waitr, DoorDash, and Grubhub are among them. The problem right now is that their offerings are fragmented. What you may find on one app is not on another, and this is mostly because of the cost for the restaurants. To them, it’s hard to determine whether they get the most return on their investment with one or another or even with all at the same time. This means it’s a little harder for you, as the consumer, to find out if your restaurant is offering delivery through one of these guys, but if you go around searching, you may find that they’re in fact offering it and you just didn’t know. It’ll take a little bit of effort and time, but it’s almost certain that you can find some of your favorite restaurants in one of these apps.

It remains to be seen which of these food delivery services are going to take over the Hoover market, but undoubtedly, eventually one of them will win out and dominate the market. Similar to app marketplaces, when most consumers are using one marketplace, the rest will flock to it, bringing even more restaurant opportunities and offerings. Competitors will have to come up with some creative and attractive offers to keep their consumers in their user base. We’ll see how it goes.

Have you used any of these services? Let us know what your experience was like, either from the restaurant or the consumer perspective. We’re interested to see what people think, how they differ in their experiences, and which one is headed to the throne of food delivery services.

Playing Ark? Try This Server Host

There are a lot of server hosts out there these days, but the problem is that not all of them are optimized for the games that you want to play. In a lot of cases, they are very generic servers hosted in data centers that can be re-purposed for any game. What you really want is a server that’s catered to your game – in this case, Ark.

If you want to rent ark server, then you’ll want a host that builds servers specifically to the game. This requires calibrating the cpu and memory specs to the needs of the game so that you reduce the bottleneck, and you can maximize your experience and FPS due to the configuration. Without the proper configuration, sometimes there will be FPS drops or even lag spikes because there is an unnecessary bottleneck.

Most hosts are actually a VPS, but you’ll want to get a dedicated server to handle your gaming needs. The dedicated server ensures that no other games or applications are running and it also helps ensure a proper configuration because it isn’t a multi-purpose machine.

In addition to configuration, location is important. You’ll want a data center that’s nearest your ideal location to reduce latency. Your data center should also include proper switches to give you the best throughput and firewall/DDoS protection so that your server won’t be susceptible to outside attacks. These DDoS attacks are generally the cause of most outages, especially during tournament styled games.

When it comes to game server hosting, you get what you pay for. Don’t skimp on the quality of your server. In some cases you can even get them for free or cheap for a trial. If you can, bang on it as hard as you can and get many people playing so that you can really test the robustness. In other cases, they’ll have some test servers already online that you can get your buddies on and try it out. Be sure to also check out reviews and already existing communities using the provider so that you know that it’s a good setup.

As always, have fun, don’t suck, don’t die. Choose wisely and enjoy gaming. Choose the right ark server hosting.