Real Estate

Which is better: a deed or a lease option?

A deed contract is also known as a land contract or installment sales contract. It is simply an agreement or contract between the seller of a property and a buyer in which the property is not transferred to the buyer until the terms of the contract are fulfilled. It sounds very simple and it is except for the fact that the seller’s rights become the issue if the buyer breaches the contract.

Various states regulate the Land Contract differently and some states do not allow its use at all. This is not a reflection on the Land Contract, only the thought and experience of legislators in these states.

So the process looks like this: A seller wants to sell a property and, for financing or capital gains purposes, he wants a buyer to pay for the property over an extended period of time. This installment payment technique would possibly reduce your capital gains or, in the financing situation, allow a buyer who cannot obtain financing to live in the property and purchase it for an extended period, or until they can obtain conventional financing to replace the property. of the seller. financing.

This type of contract is often used when the buyer wants to know that they are obtaining title to the property while paying money to the seller. The alternative would be for a seller to give the buyer a lease option to purchase the property. In this case, the buyer would only be a tenant of the property and would actually purchase it in the future. In some cases, buyers may not like the control that is lost by not having a deed in their name and may refuse to pay rent in lieu of a mortgage.

The lease option can be a one or two-part contract and is specifically an option agreement associated with a lease. Therefore, the tenant, or potential buyer, leases the property to the seller until such time as he decides to exercise the option and buy the property.

The benefits of each type of contract are that a property can be sold, transferred, or rented to stop the property’s vacancy and the resulting negative cash flow or allow the buyer to enter the property without conventional financing. The buyer has a sense of ownership, so you have to treat the property differently than if you were just a tenant. Both are legal documents that are adjudicated in the court system under contract law. Some lenders may disagree, but both are viable as ways to finance the homeowner, whether or not there is a mortgage on the property.

Personally, I have had experience with both Deed Agreements and Lease Options. I want to give you just one example of the use of each so that you care about one over the other. Some time ago, I was approached by a real estate agent who was the buyer’s agent for a new investor who wanted to buy as many properties as possible while signing a deed on each property. The investor would buy the properties using his credit to obtain the money to finance each operation.

The investor’s end buyers were county employees and many were teachers. It had a simple premise, to buy with financing from conventional lenders and to sell to these buyers who otherwise could not have obtained financing. In a year, get them financed by a conventional lender because then they would not only need “refinancing” and not a new loan. The idea was that it was much easier to get a refinance than a new financing. Sounds almost perfect, right?

The investor was a guy with some money but no experience, so the whole idea was worked out by the investor’s mortgage broker whose interest was to finance the investor and refinance the buyers. The real estate agent’s deal with me was that she would find the properties by having them pre-sold to the investor, I would go in and buy them below the list as much as possible and she would sell them to the investor at what we could get, presumably fair value. market. The investor immobilized the properties until he could obtain financing and resold them to his buyers with only a small down payment.

If you’ve been here before, it’s like a herd of piranhas feeding on an injured cow crossing a stream: the mortgage broker, the title company, the lawyer, the real estate agent, the inspection company, the survey company, the appraiser, the construction or rehabilitation people, other investors who sell, etc. . All of these trades or professions were simply looking to make money from the original buyer, myself, and the novice investor. Of course, none of these non-buyers had any financial interest in the property.

I spoke with the investor after buying and selling a specific property from him and told him my dislike for the Deed Contract he was using on the first four properties he bought. His mortgage broker suggested that he use them to get the refinance working in one year. But I explained to him that if his buyer didn’t make the payments, he would have to foreclose on the property, which could take time, maybe years in our state.

The mortgage broker argued with me, after all he had already done four properties with this investor so he was an expert and some guru told him it would work. I’m not saying it wouldn’t work; Only, removal of the buyer can be a lengthy court battle. The mortgage broker proceeded to tell me that I was wrong and that foreclosure in this particular county only takes 2-4 weeks.

Now I know that the mortgage broker had no interest except commissions, so I did not argue and told the investor to be careful, especially if the market fell. The investor assured me that the market would continue for the next few years and that it was risk-free. This turned out to be in July 2006 and the market sank by at least 50% of its purchase prices.

Every deed contract he made was in default within six months and last year he called to say that he should have listened. He mentioned that he assaulted the mortgage broker and spent some time in jail (I wouldn’t tell you how much) and that the mortgage broker is now a bartender at a local tavern.

The investor made a total of seven properties before running out of financing ability with his lender. All of his properties went into foreclosure against him because he had the loans in his name, but not until the foreclosure of the buyers began to release the ties they had in the properties: his deed. If you had paid cash for each property, you would have had the same problem of foreclosing to get buyers out. His original agreement with his buyers was for them to pay the taxes and insurance, but neither was paid as soon as the buyers defaulted.

He had suggested that he rent options with buyers. The difference is that the buyers would be tenants and could be evicted using their lease and their Option to Pay would be irrevocably lost. The Option Consideration is not a deposit, so do not even refer to it as such or you could end up having to return it later.

I have discussed this strategy numerous times, but the eviction process simplifies the removal procedure for a defaulting buyer. The property can be rented over and over again if required, even in a declining market. Some of the most important aspects of this type of contract (without going into great detail) are:

1. Make the lease and option two separate documents,

2. Make a breach of the lease related to the cancellation of the Option Agreement.

3. Do not allow the potential buyer (Option Holder and Tenant) to have the ability to file a Notice of Interest in the public record.

4. Make the lease payment at least as much as the mortgage payment when the buyer finances in the future,

5. Make the tenant responsible for any repairs under $ 2,000,

6. Make the time required to remedy a breach reasonable (as required by local laws), and

7. Charge more rent than would be possible by giving the buyer a credit at closing for the surplus; If you close, otherwise you can keep the surplus.

In short, buyers do not like lease options because they lack control of the property if they fail to meet their lease payments. Remember, if they can’t get financing to buy your property, they have no choice but to go elsewhere. The best thing for you is to find another motivated buyer who wants your property. Always consult with a local attorney about the ramifications of a land contract or lease option for your particular situation.

Shopping Product Reviews

Unlocked cellphones

Many novice cell phone users who have tried to switch service providers have been frustrated when trying to switch service providers. Most mobile phones are locked by the company that issues the phones through the use of a special Subscriber Identification Module (SIM) card to encode their proprietary access code.

A locked cell phone has a code embedded in the SIM card that locks it for a specific carrier. The cell phone owner does not have access to modify these software settings on the SIM card, so the subscriber is bound to the phone service operator. Many people find it incredibly difficult to change the lock function. The biggest advantage of an unlocked cell phone is that it allows you to switch carriers on the fly simply by inserting a new SIM card.

Some people have the ability to unlock their current cell phone and generally all that is needed is a computer, your phone close at hand, and internet access. You can unlock them if you have that ability by contacting your service provider and for a small fee they will give you the access code. There are also software programs that will unlock your phone for you. You can find many online by doing a search.

These mobile phones can be used with various GSM-compatible operators around the world. Most mobile phones can be used within the US with carriers such as T-Mobile, Cingular / AT & T and other carriers and many other GSM service providers around the world. GSM, which leads the world as the fastest growing advanced digital technology available today. Using state-of-the-art GSM technology, they provide built-in voicemail, high-speed data, fax paging, and short message services. Users can call home, across town, across the continent, or around the world as long as cellular coverage is available. Many of the popular manufacturers are Nokia, Motorola, Sony Ericsson, Samsung, LG, and Alcatel.

There are many different types of unlocked cell phones that can suit the needs of any individual user. Nokia, Motorola, and Sony Ericsson have some of the most popular various unlocked cell phones. Nokia, which is one of the leading manufacturers in music, navigation, video, television, pictures, games and business mobility through mobile devices, launches new models almost every quarter.

The 8GB Nokia N95 cell phone that starts at the price of $ 689.99 from most retailers is a wonderful phone from the Nokia line. If you love to play games and music on your cell phone, then you should consider a Nokia N81 8GB cell phone. The Nokia E65 Quadband GSM cell phone is perfect for cell phone users who need mobile business capabilities. It has a variety of radiant colors for someone who wants a colorful phone. The Nokia E61i GSM smartphone has amazing email features that any user addicted to their email must have. The Nokia 7390 L’Amour cell phone is designed to fit the most classic cell user with a stylish built-in fold design. The best phones from Motorola, a pioneer in wireless communications, are designed to suit any individual need, for example the Motorola W375 Triband GSM or the Motorola V31 RaZR GSM. The Motorola A1200 quad-band smartphone and Motorola’s KRZR K1 quad-band cell phone, which retail for between $ 130 and $ 328. Sony Ericsson, which is known for its excellence in imaging and design, created the Sony Ericsson z-558i Triband with touchscreen handwriting recognition functions. The Sony Ericsson z-710i Quadband is incredible value with 3-click music download features and Bluetooth, all in the $ 200 to $ 350 price range at retailers.


How to tell if a man is interested in you: 7 telltale signs that will show you if he is interested in you or not

If there’s one thing guys aren’t made to be good at, it’s expressing their feelings. It is as if they have the inherent idea that being emotional and verbal about their own emotions is “unmanly” and contradicts the macho effect they are trying to project. We will leave them to their ideologies, but that does not mean that the boys are also devoid of feelings. They feel a lot and they feel real, and here we show you how to tell if a man is really interested in you.

You are often the butt of their jokes.

Nobody has anything weird to say about your beautiful hair, but they make fun of you incessantly for your crown of glory. He calls you cute mocking names, and he wants to be the only one to call you that. A guy who likes you but is afraid to show affection will do the exact opposite to “hide” how he feels. It sounds like high school, but many adults still fall for this trend.

He completely ignores you when his friends are around.

When he passed high school, some parts of your boy got stuck there and never left. His friends have a suspicion that he’s a bit (or a big crush on you) and doesn’t want them to make a big deal out of it, so he tries his best to stay hidden when you’re around. But notice that the quieter you get, your friends will stumble and behave even more, giving away your feelings.

He does all the old school gentleman stuff for you.

This is a classic, especially if you don’t have your friends doing this for you often. He holds the doors, pulls out chairs, and seems to always be there to offer to carry your things. This is a good sign. It means that he may not openly show you how much he likes you, but he is willing to let you know that he respects you and wants to do little things for you.

There is always something you want to know.

You tell him that you are a vet and all of a sudden he has a dog as a pet. You tell him that you are studying to be a doctor and he calls you at random times of the day to ask you about a certain random ailment. You are an environmentalist and you recently joined a group that supports community recycling. Now he can keep his PSPs and his basketball-loving friends, but why does he seem completely interested in what you do now?

Everything is in the small acts.

A guy who is interested in you will try to break down any barrier, even a physical one. When you speak, does he look you straight in the eye? Do you casually tuck your hair behind your ear? Does he often pat you lightly on the shoulder or touch your hand lightly when you speak?

He is afraid that you will see everything.

One of the most credible tricks to know if a guy likes you is, during a conversation, while looking at you, look him in the eye and keep your gaze fixed. You will feel that all your secrets are about to be discovered through the mirrors of your soul, so you will break that gaze and smile shyly. Try it.

He wants to be the friend of your friends.

Now why would a guy want to be friends with a girls only click? The point is, he wants to be friends with them so that he can use their advice to get to know you better and, at the same time, get their approval, so they can convince you that you like him too. But if all of his other tricks have worked for you, you don’t need your friends to let you know, do you?

Arts Entertainments

Arnold, Frank Zane, Bob Kennedy and the importance of enzymes in your diet

A few months ago, I was at the MuscleMag offices in Mississauga, Ontario, and ran into publishing legend Bob Kennedy. Of course, it was exciting because Bob Kennedy has been publishing health and fitness magazines for over 25 years. In fact, one of my biggest emotions in my bodybuilding career occurred when I was emailed at Canadian Corner almost 10 years ago, at which point my photo appeared as the overall winner of my provincial championships.

I will always be grateful for Bob’s coverage of the sport that he has given me so much and for helping me realize one of my first big dreams of having my image grace the pages of his magazines.

Amazingly, almost ten years later I am face to face with the man who has been surrounded by the best of the best in bodybuilding.

Bob, a tall, soft-spoken man, looked older than the smiling image I see in the editorial section of his new REPS magazine. He told me that he had started REPS as a way to return bodybuilding to the physiques of the Golden Age of the 60s and 70s, when ideal health and physique were achievable without the massive levels of drugs taken by bodybuilders today.

Of course, this was the era that is often referred to as the Golden Age of bodybuilding. Legends like Arnold, Frank Zane, Franco Columbu, Robby Robinson and the whole gang could be seen sunbathing on Venice Beach or doing fierce workouts at Joe Gold’s gym in Venice.

I listened carefully to Bob, who was still as enthusiastic about pumping iron as he was then, recalling a conversation he had the night before with the legendary Frank Zane.

Bob laughed heartily as he recounted how Frank was on the phone for hours talking about bodybuilding, how it has been and where it is going. I thought to myself, “Wow, imagine Frank Zane calling you to talk about it for hours. Most guys would kill just to talk about it with Frank for 10 minutes and here Frank is calling Bob to talk about bodybuilding. for FREE hours.

Well one thing led to another and before you know it Bob was sharing with me the thoughts Frank had made about Arnold and the rumor that Arnold was told by his doctors that he couldn’t train anymore due to his heart problems .

Well, I am not in a position to comment on whether the report was true or not. Frank relayed some firsthand experiences with Arnold when they used to hang out at Muscle Beach in the ’70s.

Frank told Bob that Arnold was a great eater and ate all kinds of horrible food out of season. Of course, when dieting, he was focused on the laser like only Arnold can, but Frank was clear that Arnold would love to gobble up tons of fried and sweet foods. Other bodybuilders would try to follow Arnold’s plan and end up fat, out of shape, and most of all, confused.

Arnold was blessed with a fast metabolism and was also known for his incredible levels of endurance. He routinely trained 4 more hours per day and could get away with junk food back then when he was young, and it apparently had little to no effect on his physique.

Even after his career as a bodybuilder ended, Arnold continued his lifestyle as a movie star, businessman, and now Governor of California. While no one would consider contesting Arnold’s accomplishments, as he is an inspiration to every bodybuilder who has ever grabbed a barbell, Arnold’s once famous body has degenerated perhaps more than it should for someone of his age and physical capabilities. .

The question is, of course, why? How could something like this happen to the greatest bodybuilder of all time?

Part II Enzymes, metabolic damage: the effects of a poor diet

Frank believes that Arnold’s disregard for healthy eating had a detrimental effect on his metabolism. He told Bob Kennedy that he felt that all the junk food had somehow compromised Arnold’s tremendous physical abilities. Eventually Arnold’s body began to show signs of wear and tear. His genetic heart disease required surgery, forcing Arnold to reduce the intensity of his training and focus more on cardiovascular training.

It seems that life has given the Champion perhaps the cruelest hand of all by not allowing the 7-time Mr. Olympia to train at all, even though he is still a relatively young man at 60.

Frank also confessed to Bob that he was finding it increasingly difficult to get in top shape every year, as his body just wasn’t responding to training like it used to 10, 20, or even 30 years ago. Although Frank is a bit older than Arnold, he still maintains great conditioning for a man at any age, and has always been known to carefully watch everything he eats.

Bob asked me what I thought of the two cases and I quickly pointed out that both Arnold and Frank suffered from the same problem, only at different levels of intensity. Bob quickly agreed and added, yes, it’s called “THE AGING PROCESS”. Which, of course, generated a round of laughter from everyone present, as most of the people during the conversation were able to relate.

I chuckled too, but quickly added … “Well, I think what you’re saying is true, Bob, but have you ever considered what causes aging?”

Bob looked at me with a little more intensity than before and asked, “What exactly did I mean?”

Feeling that this was my moment, I quickly explained to him as quickly and concisely as I could about the research done by Dr. Howell, the enzyme pioneer, and how he had discovered that the rate of aging was directly proportional to the total enzyme potential of any organism.

Part III What are digestive enzymes?

You will see that enzymes are regularly found in food, be it fruits, vegetables, and even meat that is naturally found in nature. Digestive enzymes are necessary for the breakdown and digestion of food and are divided into 4 main digestive enzymes and a host of other enzymes and enzyme precursors. Sucrase and lactase are some that you may be familiar with, mainly because some people cannot digest certain foods due to a lack of these enzymes.

Protease: which digests proteins.

Amylase, which digests carbohydrates.

Lipase, which digests fats.

Cellulase, which digests the cellulose in vegetables (that’s fiber)

There are also many other enzymes like.

Sucrase – which digests sugar (sucrose)

Lactase – which digests lactose (the sugar in milk)

And the list goes on with other enzymes, enzyme precursors, etc.

Research has shown that any food that is heated above 118 degrees loses all of its enzymes. In other words, all cooked foods lack digestive enzymes.

Processed foods, irradiated foods, foods grown with pesticides, chemical fertilizers, or in mineral-deficient soils have minimal levels of naturally occurring enzymes.

Our bodies are designed to recognize the taste of nutrient- and enzyme-dense foods by looking for foods that break down easily and taste sweet. Anyone who has eaten a vegetable or fruit in an organic garden or farm will quickly attest to the taste of different organically grown enzyme rich foods.

You see, nature designed our food to break down in our digestive tract, yet modern man has gone against nature’s natural ways and started eating foods that are deficient in enzymes.

Humans are the only species on the planet that cooks their food. Humans are also the only species on the planet that places chemicals in the soil to grow food or sprays pesticides on food, and we are the only species that processes food with chemicals, additives, artificial sweeteners, artificial preservatives, or whatever. worse, it creates genetically. modified foods.

The bottom line is that humans are going against more than 4 billion years of evolution. Now that’s serious.

Now what does this have to do with Arnold, you might say? And more importantly, what does that have to do with you?

Everything …