TrueTitle Agency … providing professional and personal service with true industry expertise for a worry free transaction.

“Worry-free” is pretty important when that transaction concerns an asset the size of a house. Maureen Dockrill of TrueTitle Agency has that experience and dedication … and will even deliver it directly to you!

Maureen Dockrill, our Elyria IRN chapter Membership Chair, was our speaker on July 9th. Despite the withering economy and volatile housing market here in Northern Ohio, Maureen had some interesting information about one potential method for turning this difficulty into a profitable opportunity with a relatively small investment.

The market is ripe with good, and even amazing, deals on homes available for sale through foreclosure. If you have the money to invest in purchasing these deals, a steady cash in-flow and significant profit is possible. One of the methods of achieving this is through use of a Purchase Money Mortgage.

Let’s create a scenario and use some nice, easy round numbers: You have $10,000 to invest. You find a house that you can purchase for a mere $2,000 (and note, these deals really DO exist right now). Now, it needs some work and you take the remainder of your monies to do these renovations. You end up with a home valued at about $45,000. (In other words, something decent and livable for a young couple or the like.) You are actually able to find that young couple to rent the home from you for $500 a month. In less than 2 years, your initial investment has been returned to you in full. This is the point that you could offer to sell that house to that young couple. They may run to the bank and get themselves a loan and you have made an easy deal right there, but as they are young and the market has been so poor, the bank really doesn’t want to give them a loan. You could offer them a Purchase Money Mortgage.

This is the type of mortgage that occurs when the funds provided for the sale are provided by the owner of the asset. That asset then is used as security for the funds. Either you, as the note holder, will have an on-going cash flow plus interest, or in the event of a foreclosure, you already have your investment return, so you will either take in additional monies through a sheriff’s sale or be the sole owner of your paid-off property again, able to sell it or rent it for income and profit.

Be sure its done right and right on time. Maureen and TrueTitle are available when its time to transfer your property title.

A good referral for Maureen would be:

• Buying a home, especially a first time home buyer;
• Purchasing or selling commercial property;
• Dealing with the possibility of a foreclosure;
• Looking to make investments in real property.

No one can predict a disaster. Let Skilled Construction and Readyclean restore your dreams!

Our speaker on July 2nd was Vee Melendez Dungan, the Marketing Representative for Skilled Construction and their sister company Readyclean. She helped us to understand how extensive her company’s capabilities are in rebuilding after a disaster strikes.

Damaging winds … a devastating fire … high water … attack by criminal vandals … Unfortunately, these types of disasters do happen. Skilled Construction and Readyclean are on stand-by, ready to provide immediate and efficient service to minimize your property damage. They can also take the complication out of the insurance claim process, alleviating stress while cleaning and restoring your property and your daily life.

Skilled Construction Inc. is experienced in every aspect of insurance restoration. They offer a full line of commercial and residential services that includes site clean-up and debris/water removal, carpentry, masonry, HVAC, electrical, security board-up, power washing, roofing, mold remediation and property storage. They are the only local restoration company that has 24 hour emergency response available with a fully prepared semi-truck and drivers ready to go when you need them, even within an hour of your call. They also have 24,000 square feet of storage space available to handle any size job to store and safeguard your property while your home or business is cleaned and rebuilt.

Their sister company, Readyclean, are the cleaning specialists during those disasters and fully complement their services with specialties of their own. They also have 24 hour emergency service. They can provide the pack-out service for the contents of your home or business; remove debris, water, and smoke, provide specialty odor removal, structural drying service, and mold remediation; handle the special cleaning of your clothes and other linens, carpets, electronics, ducts, and the trauma left from vandals; face the unique challenges from most any unusual circumstances that unexpected disasters can present.

You do not require a disaster to contract their services. These skilled professionals are available to work with anyone to provide a variety of cleaning, remodeling, and building solutions for you. Their extensive in-house resources allow them to provide much more than the usual company with exceptional quality and craftsmanship.

The expertise you will find with Skilled Construction and Readyclean allows them to be more than just a construction company. They can be a trusted advisor and partner in a difficult process. They are there to work for you!

A good referral for Vee would be someone:
~ looking to update their kitchen or bathroom;
~ who has invested in a foreclosed or long-empty home who needs clean-up and renovation work done;
~ that has discovered a mold problem in their basement or home that needs cleaned up;
~ in a disaster situation, whether large or small, including someone with some water or roof damage from the thunder storm this past weekend.

Life Comes At You Fast!

And in these summer months, it may come at you even faster!

Our speaker this week was Sue Burgos of the Trinter Agency in Amherst. She specializes in providing insurance coverage for both individual and commerical accounts through Nationwide.

She talked to us about extensively about coverage for recreational vehicles. These types of of vehicles include:

• Motorcycles
• Boats
• RVs
• Dirt bikes, ATVs, trikes, scooters, and Segways
• Snowmobiles
• Trailers for transporting these vehicles
• Safety gear and apparel
• and pretty much anything that runs with a motor.

Many people are surprised to find out that these vehicles are NOT covered under a homeowner's policy. Unfortunately, they usually discover this at the time they need to make a claim. Insurance coverage is available for the item, itself, drivers and riders, and for liability. Depending on what it is you drive, there is also medical coverage for some of these as well. Antiques and custom made units are insurable as well.

Fortunately, this type of insurance is probably not as expensive as you may think.

Often, these vehicles are used as part of your vacation. Don't worry ... the folks at the Trinter agency won't abandon you if you are out adventuring. Trip interruption and roadside service is available in many cases, including on-water towing for your boat. Coverage is even available for snowmobile collisions, uninsured boaters, and even your fishing equipment.

As Sue is a specialist in commercial insurance, she also briefly touched on some important topics to remind us that these items are available in the world of commercial insurance. She is also the go-to person when you need to be bonded for your commercial endeavor, including city bonding for contractors.

Whether you are a self-employed contractor or a big business, as your business grows, your insurance needs to keep up. It is important to have your insurance needs reviewed at regular intervals or in times of growth.

For business people with special needs, there are special endorsements available. "Installation coverage" is available for contractors to insure their equipment, parts, and specialty items that may be on hand when they are performing installations. For restaurants and food and beverage services, when breakdowns and power outtages occur, the product spoilage and loss of business can be devastating. Insurance against these losses is now available. And anyone that who has employees can purchase employment related insurance to protect against employee theft or law suites.

Remember, when life comes at you fast, Nationwide and the Trinter Agency are on your side. A good customer for Sue would include:

• Contractors
• Restaurants
• Auto Supply Stores
• Pet Stores
• The owner of a recreational or seasonal vehicle

You work hard to earn your money ... NARO works hard to help you keep it!

Our meeting was held this week in the Elyria Room at the Holiday Inn, a perfect place to accommodate our smaller group this week.

Rob Narolewski, owner of NARO Tax Services (and my own very awesome boss), gave a presentation that left us all dazzled by incomprehensible numbers and armed for the future with a better understanding of federal income and expenses. He made us work for the information, though, quizzing us to find out how far on or off the mark our expectations really were. Here is a sampling of this information, based upon numbers for 2007. (The IRS is still working on getting all the papers and money for 2008!)

How much does the U. S. Government actually collect in taxes?
Total collections were $2.57 trillion.

Of those tax dollars collected, how many of them were individual income taxes (as opposed to corporate or excise or Medicare)?
Individuals paid in $1,163 billion.

What were taxes as a percentage of GDP?
It was 18.8% … only slightly higher than the 28 year average of 18.4% (fluctuating in only a 5% range).

Given that they collected $2.57 trillion in taxes, of that amount, what did they spend?
Spending amounted to $2.73 trillion, giving us that $162 billion deficit.

How did the government spend its income?
Mandatory spending was 53% (this includes Medicare/Medicaid, Social Security, and unemployment/welfare); Discretionary spending was 38% (these are the budgets of the various Federal Departments of … but does NOT include war spending in Iraq and Afghanistan); and the final 9% was spent on Interest (on the national debt).

Of this discretionary spending, who got the biggest piece of the pie?
Education received the most with $79.8 billion, followed by transportation with $71.2 billion. A few other interesting facts: the environment ranked 8 out of a list of 16 with $30.9 billion and energy was only 15 on this list at $3.6 billion. In case you were curious, general government expenses landed 11 on the list at $15.9 billion.

We have significant debt ($2.767 trillion as of July 31, 2008) that is held by foreign countries. Which country holds the most?
Japan does, at $593.4 billion or 22.2%. Other holdings include: Mainland China (19.4%), the UK (10.9%), the Oil exporters (6.5%), Brazil (surprise!!!) (5.5%), and Caribbean Banking Centers (5.0%), leaving 30.6% divided throughout the all the other countries.

Rob at NARO Tax Services is not just another fast tax agent looking to input your numbers for the biggest return…for HIM. He is an IRS enrolled agent with extensive education in accounting, available throughout the year to help with all facets of tax filing and issue resolution. He and his staff are also available to perform bookkeeping services, monthly business filings, and assist in establishing new companies. Rob is also a QuickBooks Pro Advisor, able to teach you and your staff how to manage your own routine bookkeeping requirements.

A good referral for Rob would be:
· Someone trying to resolve old IRS filing or payment issues;
· A small company or independent contractor looking to maintain financial order through monthly bookkeeping services;
· A new business establishing itself and setting up new books;
· Someone who is eligible for the first time home buyer tax credit that needs to amend their previously filed return;
· Someone looking for a new, better, and reasonably priced tax preparer;
· A busy professional, someone hearing impaired, or an individual with physical challenges that is most comfortable transacting services through entirely electronic means.

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Please visit the IRN website to register for the
“Summer Day Forum for Successful Networkers”
Tuesday, July 21, 2009

And for information about other upcoming IRN events!

http://irnlink.com/events.php

Get some insight to your business image!

Lori Wagner, owner of Insight Type & Graphics, is not only a printer. She is a specialist in marketing that can help you define or redesign the face your company presents to the world every day.

“Identity is who you are…Image is how you are perceived!” Lori is an expert at creating that image and can offer you a variety of media vehicles that will drive your company forward and your sales to the top. Those printed materials include: business cards, labels, flyers and brochures, event banners, yard signs, vehicle lettering, magnetic signage, screen printed t-shirts, embroidered clothing, stick and peel coupons… if you can put a logo on it, Lori can help you make your materials a printed reality.

One of the most important jobs that Lori does is the design and creation of company ID packages. Through this, a company will identify its product or service and the logo that will be used to market it. This logo will become an important representation of the company and must translate well to the various products on which it will appear. Depending on the logo and the industry, there may even be legal specifications to be met, like in the case of a trucking company that has to have specific size lettering to announce their company name and location on their trucks. Not only does that logo need to be functional, it must be accurate to the company, exciting to the customer, and consistent across the board. Boring, outdated, inconsistent, or incorrect, all of these images will lose business.

Insight Type & Graphics is also available for social and personal items. These include event invitations, postcards, important family announcements, banners, novelty items for parties and gatherings, and t-shirts.

A great reference for Lori Wagner would include:
o Someone early on in the start-up process of their new business;
o A company that needs to update their image;
o Anyone with printing and design needs;
o A small business wishing to change from in-house production to professional production for their sales and marketing materials;
o Brides-to-be and high school graduates that need invitations and/or announcements.

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Special Guests of the Week

Atty. Marc L. Stolarsky – Rocky River Chapter Member

Greg Miller – Fairview Park Chapter Member, Home Smart Inspection Services

Heather Miller – lovely daughter of Greg Miller

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SPECIAL ANNOUNCEMENT

Linked-In Forum
July 21, 2009
Cleveland Marriott
8:30 a.m. until 11:30 a.m.

Contrary to former announcements, there will be a forum.
This forum will be unique in that non-members will be welcome to attend.
Plenty of time will be made available for networking and a light breakfast will be served.
There will be 2 sessions available on Linked-In.

Everyone should do their best to attend and to bring a guest along!

Do You Love The Skin You're In?

Nancy Klein is owner and managing Aesthetician at That’SKINcredible.

Since 1996, Nancy and her staff have been offering a variety of methods for looking and feeling your best, including various skin and massage therapies. Whether it’s a treatment for a problem or simply a matter of much needed time spent relaxing and being pampered, That’SKINcredible offers many options in aesthetic care and massage for both women and men provided by experienced professionals in a warm and inviting environment.

Although we have had a slow start to our summer here in Elyria, temperatures are rising and people are spending more time outdoors. Nancy was kind enough to share with us information about sunscreens and the damage that the sun can do to our skin.

Consider that melanoma is the premier killer of women ages 21 to 34. That alone should be enough to make anyone sit up and pay attention to the importance of sunscreen. With every sunburn we get, the risk of melanoma increases. Blocking the damaging rays of the sun should be the first consideration for all summer activities and all ages of people.

Sunscreen should be chosen with care. SPF (Sun Protection Factor) is a measurement of UVB rays blocked. UVB is what causes both suntan and sunburn, acting directly on skin cells to produce melanin, a process that eventually causes accelerated aging and DNA damage that can lead to skin cancer. UVA, on the other hand, has indirect affects that eventually cause the same skin damage as UVB, but without the sunburn. Because it is a penetrating ray without a direct affect on the melanin, it is not measured by SPF and your sunscreen may or may not contain the ingredients required to protect your skin from UVA.

Nancy recommends a “broad spectrum protector” to be the most safe, along with reading ingredients and looking specifically for items that will protect against UVA.

She also addressed the dangers of tanning beds, devices that concentrate UV rays for quick or sunless tanning purposes. If you thought that these devices are a safe alternative to direct sun exposure, you have misunderstood the true nature of a tanning bed. These devices, even ones with claims of safety, may be as dangerous as the sun itself. The levels of UVA and UVB may be such that sunburn is avoided but the skin and DNA damage may be equally or more traumatic.

Nancy is dedicated to healthy skin and has products, including broad spectrum sun blocks, that are available for purchase.

A good customer for Nancy would include:
o Anyone living with the results of sun-damaged skin;
o An individual with skin sensitivity issues who may not be able to use standard store-offered products for skin care and protection;
o Individuals who have special events upcoming for which they want to look and feel their very best (like a bride-to-be and her wedding party, a recent graduate with important upcoming job interviews, or someone who is preparing for a special vacation);
o Someone with a special skin problem who needs special treatment and maybe a boost in their self esteem and image.

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Special Guests

Laura Spade, Technical Writer

Atty. Maureen Gechter, Medina IRN

Al Zanni, ACN, North Olmsted IRN

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Special Announcements

There will be no July forum, although a cross-chapter networking event will be upcoming. More details to come later.

Netfest will tentatively be held on August 12th.

Stay tuned for information regarding a possible new meeting location.

Honesty, Integrity, and Professionalism are what you can expect!

Our speaker for this last meeting in May was Luanne Boyles, Finance Manager for Howard Hanna Mortgage Services. Luanne’s expertise in residential lending brought new and important information to all of us, including those members who work in the industry and those of us who only know when to mail the payment.

This is an industry that has seen drastic changes over the last several years…and the last few weeks. Some of these changes are coming so fast that a home buyer who is approved today for a loan may not be accepted tomorrow. Interest rates are also on the move upward and can jump in a matter of hours.

Some changes have been a result of 9/11 events. Others have come from the tumultuous financial conditions we’ve seen over the last year. These changes have not so much affected the nature of the mortgage so much as they have changed the process by which they are qualified and issued.

As of January 1, 2008, a borrower is required to have a job. Explicit verification of employment, income, and any significant assets is one of the first and most important qualifiers. Good credit is also a factor.

Today, at least some money down is a must. For an FHA loan, this would be 3 ½% of the purchase price. For first-time home buyers, many states, including Ohio, have programs that will assist a new buyer in this part of the process. (Note that a VA loan does not require money down.)

An important issue to note is that there must be records of where all monies have come from that are used for a down payment. 2-3 months worth of bank statements are reviewed, along with other documentation, to create an explicit paper trail. Cash in hand, without the proper source documents, may not be usable for your required minimum down payment.

The process of appraisals has also been restructured in an effort to ensure accuracy. In Luanne’s office at Howard Hanna, appraisers are assigned on a random and rotating basis through a company agent. The identity of this assignment agent is kept anonymous within and without the company to insure the integrity of the program.

Good referrals for Luanne would include:
o Anyone financing a home purchase;
o A first-time home buyer who may be eligible for the new tax credit;
o A U. S. Veteran shopping for a home – in an effort to thank those who have defended our country, Howard Hanna is offering all qualified veterans a $300 discount on their closing costs, now through July 4th.

Thanks, Luanne, for all your valuable information!