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