Kids View Of Marriage
1. HOW DO YOU DECIDE WHO TO MARRY? (written by kids)
-You got to find somebody who likes the same stuff. Like, if you like sports, she should like it that you like sports, and she should keep the chips and dip coming. – Alan, age 10
-No person really decides before they grow up who they’re going to marry. God decides it all way before, and you get to find out later who you’re stuck with. – Kristen, age 10
2. WHAT IS THE RIGHT AGE TO GET MARRIED? Twenty-three is the best age because you know the person FOREVER by then. – Camille, age 10
3. HOW CAN A STRANGER TELL IF TWO PEOPLE ARE MARRIED?You might have to guess, based on whether they seem to be yelling at the same kids. – Derrick, age 8
4. WHAT DO YOU THINK YOUR MOM AND DAD HAVE IN COMMON? Both don’t want any more kids. – Lori, age 8
5. WHAT DO MOST PEOPLE DO ON A DATE? -Dates are for having fun, and people should use them to get to know each other. Even boys have something to say if you listen long enough. – Lynnette, age 8 (isn’t she a treasure ?)
-On the first date, they just tell each other lies and that usually gets them interested enough to go for a second date. – Martin, age 10
6. WHEN IS IT OKAY TO KISS SOMEONE? -When they’re rich. – Pam, age 7
-The law says you have to be eighteen, so I wouldn’t want to mess with that. – Curt, age 7
-The rule goes like this: If you kiss someone, then you should marry them and have kids with them. It’s the right thing to do. – Howard, age 8
7. IS IT BETTER TO BE SINGLE OR MARRIED? It’s better for girls to be single but not for boys. Boys need someone to clean up after them. – Anita, age 9 (bless you child )
8. HOW WOULD THE WORLD BE DIFFERENT IF PEOPLE DIDN’T GET MARRIED? There sure would be a lot of kids to explain, wouldn’t there? – Kelvin, age 8 And the #1 Favorite is …
9. HOW WOULD YOU MAKE A MARRIAGE WORK? Tell your wife that she looks pretty, even if she looks like a dump truck. – Ricky, age 10
All Thanksgivings are special however this Thanksgiving is even more special. This year the first night of Chanukah falls on Thanksgiving. Tonight Jews around the world will be celebrating their own thanksgiving as Chanukah begins. Tomorrow Jews in America will be celebrating both the first day of Jewish thanksgiving and the day of American Thanksgiving. The story of the founding of this country and the story that is remembered by Chanukah are not all that dissimilar and for this special occasion I will discuss some of the history of both so that we can all understand the parallels a little more.
In 222 BCE the Israel was a part of the Syrian-Greek Empire. It was at this time that Antiochus III reigned. Toward the end of his reign his disposition toward the Jews became unfavorable and after his death the reign of Seleuchus IV the oppression of the Jews was further intensified. In 174 BCE Antiochus IV, the “madman”, began his reign and he made it his mission to render the lives of the Jews unbearable. Antiochus suppressed Jewish laws, removed the High Priest, burned Torah scrolls, desecrated the Temple, etc. A small band of men led by a priest named Matityahu stood up by killing a Hellenistic Jew (an idol worshipping Syrian sympathizer) and then Syrian guards in the small town they were in. This small rebellion quickly escalated. When Matityahu was about to die he told the Jews in opposition to the Syrian regime to follow Judah, the Maccabee, during warfare. Judah’s followers were called the Maccabees. Antiochus sent his general Apolonius to wipe out Judah and the Maccabees and was defeated. He sent another expedition and was defeated again. He then sent 40,000men and after a series of battles the small band of Maccabees had prevailed. The menorah was a candelabra that was in the Temple and upon returning to the Temple the Jews found the Temple had been desecrated and that only one jar of pure oil with the seal of the High Priest was remaining. Rather than use the other, tainted oil they used the oil that was sufficient to light the menorah for only one day yet through a miracle it lasted for 8 days. And, this, the rebellion that led to a revival of the Jewish spirit, that allowed for Jews once again to honor their responsibilities toward G-d, is why Jews around the world are giving their thanks.
The American story is much more familiar to all of us. We all know the stories of the Protestants that fled the monarchies of Europe to come began anew. We all know of our forefathers who crafted a nation that was to be ruled by Divine Law. We know of the battles they fought for us to be here today in what is the greatest nation in the world. The American Colony of the British Empire stood up to one of the greatest empires in the history of the world and prevailed to win its independence so that the people of this country could be free from the bondage of greatest monarchy on earth at the time. In standing stout to claim independence we were granted a heritage that hearkens back to a time where some of the greatest people this world has ever seen stood together to create a system of governance that recognized the most important thing a system of governance can recognize, that there is one King and one King only and that King is G-d.
On this Thanksgiving holiday, I thought I would take a moment to send you a thank you for being a part of the EquityBuild and EquityBuild Finance family and wish you a wonderful holiday with your family. I hope you have a wonderful meal, spend lots of quality time with your family, create some memories and drive safely.
I will leave you with the two links. The first is to the first Thanksgiving Proclamation given by George Washington and the other is to an article that will help us all remember the true nature of Thanksgiving.
CLICK HERE FOR WASHINGTON’S PROCLAMATION
CLICK HERE FOR THE ARTICLE
Subject: Happy Thanksgiving from Kendrick Property Management
|Property Insurance – The Basics on Insuring Your Property
Posted: 21 Nov 2013 10:29 AM PST
When you own real estate – whether an investment or a personal residence – you should procure the proper type and dollar value of insurance needed for your property. Unfortunately, many people don’t understand the basics of how insurance coverage works, and many individuals just want to spend “as little as possible” on insurance. The trouble comes about when there is an problem, like a fire, slip-n-fall, or lawsuit. If you don’t have the right type of insurance, nor enough coverage, it could end up costing you a lot of money. So let’s go over the basics herein, plus we’ll discuss renter’s insurance basics and tenant liability insurance basics too.
A standard dwelling insurance policy will cover losses on the building, separate structures, personal property, loss of use, liability, and a few other optional coverages. The one’s that are more important to focus upon are:
1. Coverage for your physical assets – building, separate structures, and personal property 2. Liability and lawsuit coverage.
Physical Assets Each year when you renew your policy it comes with limits on how much coverage you have in case your physical assets are destroyed. These are listed on your policy declarations page. For example you might have a 4,000 square foot structure – like a five unit building – and if it costs $100 per square foot to rebuild that structure, you should have $400,000 in dwelling coverage. Note that only the structure is covered by insurance, not the land because typically land isn’t destroyed. If you also have separate structures like pools, unattached garages, or significant personal property like appliances, you need to have your insurance agent add up the total value and procure enough coverage for all of your assets.
What happens if there is a fire and you only have $250,000 worth of coverage but it will cost $400,000 to rebuild and replace assets? You’ll get a check from the insurance company for the $250,000 dollars, and that’s all. You’ll have to spend your own money to rebuild it. So pull out your declarations page and make sure you’ve got enough coverage based on what it costs to rebuild.
Liability Protection Insurance also provide liability coverage in case there is a lawsuit related to your property. If a tenant’s dog bites a neighbor, you’re going to get sued too. If you do get sued, your insurance company will step in and provide a lawyer to negotiate, defend, settle, or pay a judgment – up to your policy coverage limits. So if you have $300,000 in liability coverage, that is the maximum they will pay out – you’re on the hook for the rest. You can up that coverage amount with a Personal Umbrella Policy, and you should consider doing this. You can increase your liability coverage in increments of $1,000,000 for between $300-$600 per year. So estimate your net worth and your earning potential, and make sure you’ve got enough on this issue too in case the worst occurs.
Other types of coverage that are typically not included in your regular policy are earthquake coverage, flood coverage, and others depending on the state within which you live. And, of course, discuss all insurance issues with your insurance agent, plus do your own research on the Internet and talk to other property owners. Also shop around every few years to make sure you are still getting a fair deal.
Renter’s Insurance As a landlord you should also work towards moving all your tenants to having Renter’s Insurance when they renew their leases. This insurance protects the tenants from theft, water and fire damage, and liability issues. And it also protects you as claims should first go against your tenant’s policy, not your master policy. A typical renter’s policy runs about $125-$175 per year.
Tenant Liability Insurance You should also consider Tenant Liability Insurance. This type of insurance protects you, the landlord, in many instances including if a tenant lets their renter’s insurance lapse or they didn’t procure the right type or enough insurance. You pay for it, or assess it to your tenants, and it protect you against lawsuits filed against your tenants, against property damages caused by your tenants, it may protect your from frivolous lawsuits from your tenants, or insurance deductibles you might otherwise have to pay when your property is damaged. This coverage costs around $120-$150 per year per unit. Make sure to fully understand the policy and what is and what isn’t covered, because coverages can vary by carrier and policy. Here’s more information on Tenant Liability Insurance from AppFolio.
Conclusion Having the proper type and amount of insurance in place isn’t needed, if nothing bad ever happens. Unfortunately, we all know, things happen! So take a day each year, meet with your insurance agent, do some research, look at your current policies and limits, to make sure you are property covered. Because, when something does occur, you’ll breathe easier knowing you’ve got the appropriate insurance policies in place.
Leonard Baron is America’s Real Estate Professor – his unbiased, neutral and inexpensive “Real Estate Ownership, Investment and Due Diligence 101” textbook teaches real estate buyers how to make smart and safe purchase decisions. He is a San Diego State University Lecturer, blogs at Zillow.com, and loves kicking the tires of a good piece of dirt! More at ProfessorBaron.com.
The Top 5 Factors Resulting in Resident Loyalty
by Joanna Ellis – PropertyManagementInsider.com
When it comes to maintaining and increasing resident retention, we seem to put a lot of focus on why our residents are not loyal to us, but what we should really be asking ourselves is “What am I doing right?” When you identify who your loyal residents are, you’ll usually find there are five common factors that correlate with their loyalty. We’ve listed them below for your convenience:
1. You Ask for AND Listen to Resident Feedback
You know that traditional satisfactions surveys don’t cut it – that you need to ask the hard questions and really listen to residents’ needs, wants, and concerns. You know that survey programs modeled after proven Net Promoter Score (NPS) methodology, give you the greatest insight into resident loyalty by answering the question “What is the likelihood you would recommend us?” Willingness to recommend is one of the strongest signs of customer loyalty(“The One Number You Need to Grow”, Harvard Business Review). Residents who are loyal will not only give you referrals, but they will stay longer and are willing to pay more.
After you take time to listen to their desires and honest feedback, you work to provide your residents with what they need or want in a home. You show them that you care about them, and caring builds trust. When you implement changes and improvements based on resident feedback, you cultivate resident loyalty, and practically, increased resident retention.
How can you get more feedback to generate resident loyalty?
- Ask your residents how they are doing at every opportunity, through:
- Loyalty-based resident surveys
- Personal conversations
- Social media channels
- Monitor apartment rating and review sites
- Review resident letters/complaints
- Keep current on the grapevine at your community
2. You are Fast to Resolve any Maintenance or Apartment Community Issues
When a problem does arise, you are prompt in providing the best solution. You know that resolving concerns as quickly as possible is part of the success equation. Quick action prevents small issues from becoming bigger. Using an ongoing program of loyalty-based resident surveys ensures that you have a constant flow of information and can stay apprised of any concerns so they can be addressed right away.
Because you realize your residents will share their experiences with anyone who will listen, you know that a speedy solution to problems is a winning proposition and will help generate resident loyalty (and increase lead conversion).
3. You Make Living at your Apartment Community Easy
Your staff and services are convenient for residents and you consider it part of your job to make their life easier and more enjoyable. You’ve designed your procedures and processes to deliver the kind of lifestyle that feels good to come home to. Residents know your team is there for them and will help them in any way they can. Keeping life simple is one of the best ways to generate resident loyalty.
4. You Know your Residents Have A Choice—and You Let them Know It
Unless your community is located in a remote area of Antarctica, you are not the only place your residents could choose to live. You express your sincere thanks to residents for choosing your community as their home. You offer valuable products and services that generate resident loyalty. A greater value keeps them coming back for more and will get you plenty of referrals. A mere 5% increase in resident loyalty can improve overall profitability by 25% – 100% (The Loyalty Effect, Reichheld).
5. You Create “WOW” Moments in your Community
Having satisfied customers is not enough – satisfied residents defect. Loyal residents stay and refer friends and family to your apartment community. You strive every day to create “WOW” moments by delivering a consistently positive and memorable customer experience. You know your resident’s emotional connection and reaction to their living experience is what drives their action and will ultimately generate resident loyalty.
Your focus on “WOW” experiences helps build a relationship between you and your residents based on trust. They come to expect you will adhere to good corporate citizenship, offer transparency, and hold yourself to a standard of accountability. Seventy eight percent of purchase decisions are made based on peer-to-peer recommendations, and because you consistently provide a “WOW” experience, your residents are enthusiastic enough they will stake their own reputation with a friend or colleague to refer them to you (“How Philips Uses Net Promoter Scores to Understand Customers”, Harvard Business Review).
Loyal residents are your most profitable residents. They are happier, lease longer, and will be your brand champions. Because of your personal experiences, you know who you would be willing to recommend to others and why.
What things do you do that generate resident loyalty?
Posted: 18 Nov 2013 04:21 PM PST
If you’re a potential buyer or a former owner, you’re darned if you try to own and darned if you’re currently an owner. Unless you own a rental home or a multi-family residential income property, the days of buying a house and expecting the price to automatically rise with demand aren’t here yet.
We were reminded of this on Monday October 21st when we learned that U.S. home resales fell in September and prices went down as higher mortgage rates took the lilt off the housing market recovery. The National Association of Realtors (NAR) informed us that sales of previously owned homes actually fell 1.9 percent last month to an annual rate of 5.29 million units.
At the same time, the median price rose 11.7 percent in September from a year ago to $199,200. While that was the 10th straight month of double-digit gains, it was the smallest increase since April. “This softening had been expected in response to the increase in mortgage rates that began in May,” said Daniel Silver, an economist at JPMorgan in New York.
The NAR said a combination of high home prices, barely rising salaries and higher mortgage rates was hurting affordability, which hit a five-year low in September according to its gauge. The trade group said sales probably peaked in July and August.
No Immediate Turnaround in Sight According to a recent Reuters report there’s at least one more month of declining home prices and an ongoing dip in the affordability housing index. “Economists said they expected home resales to decline again in October in part because a 16-day partial government shutdown had hurt consumer confidence and likely delayed the processing of mortgages backed by the Federal Housing Administration.”
Some economists believe that despite these current headwinds the housing market recovery remains intact. Perhaps their crystal ball sees a 10-year Treasury bond rally ahead which will lower the yield. Mortgage rates are tied to the interest rate on the 10-year Treasury which as of October 21st is still around 2.6%. That would explain the following quote from an East Coast economist.
“The housing market is not faltering, it’s just that the rapid improvement has been stunted,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. “That is not a terrible thing as many were worried about another bubble being formed. I still think the sector has a long way to go.”
That may be true but what about the first-time homebuyers and young adults who in the past were a big part of a housing price recovery? First-time buyers accounted for only 28 percent of the previously-owned home sales, way down from the 40 percent to 45 percent that economists and real estate professionals normally anticipate.
Investors, including REITs and large, publicly-traded opportunists like The Blackstone Group (NYSE:BX) have been the big purchasers in recent months, bought only 19 percent of the homes in September, with almost three quarters paying in cash. Any way you slice it homes are also not selling as fast as they did in the summer. A home’s median time on the market in September was 50 days. That was up
from 43 days in August, but down from more than 70 days a year ago.
The silver lining in the report was that distressed properties (which can lower prices because they typically sell at deep discounts) accounted for only 14 percent of sales last month. That’s way down from 24 percent a year ago. The number of unsold homes on the market was unchanged at 2.21 million in September, representing a 5.0 months’ supply.
I had to wonder how many foreclosed and bank-owned homes were included in the supply numbers, and how many weren’t because they’re being held from the market for now. September’s supply numbers compared to August’s 4.9 months supply. According to the NAR a 6.0 month’s supply is normally considered healthy.
A New Class of Renters Continues to Unfold The bottom line is that millions are either priced-out of the housing market or can’t qualify for financing, no matter how low interest rates are. This demographic has the owner’s-pride mentality and scruples of people who would in times past have been buyers. Many potential first-time buyers are still saying, “It’s less expensive and less risky to rent!”
Property managers and landlords can ask for a higher deposit from this new breed of renters. They have the money to be more upscale on the kinds of rental properties they live in and have the money to prove it. Expect many of these renters to be either self-employed or to hold multiple jobs. They know that property managers will screen them carefully and they want to qualify for the most desirable rental housing they can afford.
The way to go after this new class of renters is to lead with the strengths, benefits and advantages of both your properties and having a manager like you. The new renters will pay more for better locations, nicer amenities, and excellent management services.
Real Estate Investing – Cash Flow Leveraging
Cash flow leveraging is about how borrowing can impact your cash coming from your rental properties.
The first important thing to understand in cash flow leveraging is the capitalization rate. It is important to know how much the property is paying you. In its simplest form capitalization rate is the net rental income from the property divided by the purchase price.
Let us say you buy a property for $100,000. Let us assume gross income from this property is $14,000. Total expenses that include rates, insurance, maintenance & management come to $4,000. The net income from the property will be $10,000 ($14,000 minus $4,000). The net yield or cap rate on the property will be $10,000 (net rent) divided by $100,000 (purchase price) or 10% in this case.
The next important thing to understand in cash flow leveraging is the cost of borrowing funds. It is not a simple case of interest on your loans but must also into account the amortization cost and the loan period to work out the loan constant. Let us say that the cost of borrowing is 7%.
The difference between the cost of borrowing and the return from your investment property is called the spread. In our example above we have borrowed money at 7% and are getting a net return of 10%. In this case we have a positive leverage on the property.
If the return from property was lower than the cost of borrowing we will have a negative leverage. A neutral leverage will occur when the cost of borrowing is same as return from the property.
When you are buying a property for cash flow you have to purchase only positively leveraged property. If you do this the cash flow leverage will work in your favor.
Investors sometimes buy negatively or neutrally leveraged property in the hope that capital appreciation from the property will overcome the short term cash losses on the investment. In this case you will need to support the short fall in cash flow from other sources of income. This can become very worrisome if the investor loses his job or suffers losses in his business that is supporting the negatively leveraged property.
A positively leveraged property can turn into a negative leveraged property in case of loss of rental income or if the interest rates move up at the time of re-fixing the mortgage. It is therefore prudent for you to allow for the vacancy rates or changes in the cost of borrowing.
No one can allow for all the contingencies that may occur in the future. But if you can work out your figures accurately for the first five years then chances of things going wrong with your investment are greatly reduced. This is because rents will normally go up to provide you with additional cash flow. In addition increase in capital value of the property will give you with an extra cushion of equity.
A negatively leveraged property will move into positive territory given time and a few rent reviews along the way.
As an investor you will keep out of trouble if you apply cash flow leverage properly and make it a habit of buying only positively leveraged properties. This is what Robert Kiyosaki and all savvy investors do. You must always concentrate on cash flow first and capital appreciation later.
Investing in residential properties is the best strategy when starting out as a real estate investor. The biggest leverage you can have in the process of creation of wealth through real estate is knowledge.
By Robert Benson
- City Job Costs
- City Resale Value
- City Cost Recouped
- City/Region Comparison
- City/National Comparison
PDF (2.1 MB)
|Rochester, NY – Midrange Data||
2013 Middle Atlantic Averages
|Job Cost||Resale Value||Cost Recouped||Project||Job Cost||Resale Value||Cost Recouped||Change vs. 2011-12|
|$11,234||$4,516||40.2%||Backup Power Generator||$11,825||$5,624||47.6%|
|$14,912||$7,485||50.2%||Deck Addition (composite)||$15,584||$9,557||61.3%|
|$9,229||$5,112||55.4%||Deck Addition (wood)||$9,958||$6,914||69.4%|
|$2,737||$1,132||41.4%||Entry Door Replacement (fiberglass)||$2,798||$1,715||61.3%|
|$1,123||$577||51.4%||Entry Door Replacement (steel)||$1,166||$967||83.0%|
|$78,010||$37,645||48.3%||Family Room Addition||$84,224||$46,943||55.7%|
|$1,472||$865||58.8%||Garage Door Replacement||$1,547||$1,104||71.4%|
|$26,917||$8,812||32.7%||Home Office Remodel||$28,698||$11,035||38.5%|
|$53,328||$30,331||56.9%||Major Kitchen Remodel||$56,199||$34,725||61.8%|
|$100,726||$52,592||52.2%||Master Suite Addition||$108,536||$62,696||57.8%|
|$18,307||$10,077||55.0%||Minor Kitchen Remodel||$19,400||$12,843||66.2%|
|$11,005||$6,719||61.1%||Siding Replacement (vinyl)||$11,860||$8,329||70.2%|
|$9,643||$5,219||54.1%||Window Replacement (vinyl)||$10,200||$6,530||64.0%|
|$10,571||$5,546||52.5%||Window Replacement (wood)||$11,164||$7,359||65.9%|
|Rochester, NY – Upscale Data||
2013 Middle Atlantic Averages
|Job Cost||Resale Value||Cost Recouped||Project||Job Cost||Resale Value||Cost Recouped||Change vs. 2011-12|
|$33,893||$14,823||43.7%||Deck Addition (composite)||$36,036||$18,985||52.7%|
|$2,700||$1,560||57.8%||Garage Door Replacement||$2,795||$1,965||70.3%|
|$7,048||$3,065||43.5%||Grand Entrance (fiberglass)||$7,214||$4,200||58.2%|
|$106,488||$49,032||46.0%||Major Kitchen Remodel||$110,792||$59,346||53.6%|
|$217,703||$85,013||39.0%||Master Suite Addition||$230,013||$106,851||46.5%|
|$12,884||$8,071||62.6%||Siding Replacement (fiber-cement)||$13,793||$10,150||73.6%|
|$13,496||$8,246||61.1%||Siding Replacement (foam-backed vinyl)||$14,456||$10,052||69.5%|
|$12,949||$7,148||55.2%||Window Replacement (vinyl)||$13,385||$8,594||64.2%|
|$16,233||$8,920||54.9%||Window Replacement (wood)||$16,757||$10,458||62.4%|
If you are not satisfied with your Property Management, contact
Team Kendrick NOW!!!!
Start the NEW YEAR right with first month service Free.
Why choose Kendrick Property Management
We are dedicated to providing the highest level of service to our clients. To accomplish this our team does extensive research on each of our client’s properties to ensure nothing is overlooked. From checking the condition and code requirements to make sure that any defects are brought up to standards.
We will run comps to make sure clients are receiving the maximum rent for the property based on area and condition. If improvements will increase the rental rate we will cost it out and inform our client if the improvements are worth doing.
Since we have our own team of contractors we can keep the rehab and repair cost down for our clients. We can also control the time it takes to get the work completed.
Most management companies will sign a contract with you and spend your time and money marketing your property. We choose to go at this from a completely different direction. We market the renters.
Market the renters? you are probably wondering what I’m talking about. Well this is it, we spend more time and money marketing to the renters. We have a formula that we use to determine what price they can pay for rent. We screen them check their references and add them to our waiting list. Then we will only show them properties they can afford. The same way a bank won’t let someone get a mortgage they can’t afford. With this program it makes it less likely that they will get behind and have you not receive your rent.
Since we are dedicated to providing the highest level of service to our customers we have to be selective when considering what properties we will manage. Often subprime properties put to much strain on a management company’s resources. Most companies take any and all properties offered to them, we won’t. If your portfolio consist of mostly subprime properties we are not the Management Company for you.
James L Kendrick 50 Kentwood Dr. Rochester, NY
585 – 880 – 4324