What a Summer!!!

Most of you know that we are still recovering of getting use to a “New Normal” in dealing with Covid-19. So, I wanted to give you an update on upcoming events and opportunities. Here are the current promotions that are going on…

“First Responders” (Active Military, Veterans, Police, Fire, Health Care Professionals, Teachers) I’m giving you a 10% discount off the following services:

“Home Inspections Services”

and

“Residential Design Preliminary Services”

Just produce documentation supporting your claim as a “First Responders” and you will receive your 10% discount.

This offer will end on December 31, 2020.

“NACA members”, I wanted to say congratulations for you going through the NACA Home Buyers Program on home ownership. So as a thank you for you going through the program. Just produce your NACA ID # and you will receive your 10% discount.

This offer will end September 30, 2020.

“New Decade – New Home Seminar Series”, that was schedule for September 12, 2020 has been reschedule to October 31, 2020. The formal format was to do a live presentation but due to the current Covid-19 health issue, it will be an “Online” presentation.

More detail information is coming to you soon.

As a reminder, People, Places & Things LLC and PPT Inspections are still operating safe practices until further notices. These safe practices including the following…

    Clients should limit the number of people attending inspections to as few, as necessary.

    All parties should meet the inspector in front of the property- NOT inside the property.

    Inspectors will provide disposable (non-vinyl) gloves for each participant. Masks will not be provided but may be brought and worn if desired.

    All gloves used during inspection will be collected and disposed of immediately upon exiting the home.

    Sanitary wipes and/or hand sanitizer will always be accessible during the property inspection.

It is important to recognize that as home inspectors and rehab consultants, we are entering homes and touching surfaces that may be contaminated by this virus. During the entire process, we need to stay focused on the home buying activity and the process of the inspection.

That is all for now.

203kconsultants #NAFHAC #203kdiscoverydays #203kproject #203klender #203krehab #203kloan #203kcontractor #renovationproject #renovationloans #homerenovationloan #203kconsultant #203kcontratista #203krehabloan #203kloans #fhaloan #fha203k #generalcontractors #homeinspectors #homeinspections #buildingdesign #residentialdesign #homedesign

THE PAUSE IS OVER – Here is the “New Normal” (For Now)…

The “Staying in Place” order has been lifted so in the State of Michigan we can resume somewhat the new normal for now. So as a reminder, People, Places & Things LLC and PPT Inspections are still operating safe practices until further notices. These safe practices including the following…

  • Clients should limit the number of people attending inspections to as few, as necessary.
  • All parties should meet the inspector in front of the property- NOT inside the property.
  • Inspectors will provide disposable (non-vinyl) gloves for each participant. Masks will not be provided but may be brought and worn if desired.
  • All gloves used during inspection will be collected and disposed of immediately upon exiting the home.
  • Sanitary wipes and/or hand sanitizer will always be accessible during the property inspection.

It is important to recognize that as home inspectors and rehab consultants, we are entering homes and touching surfaces that may be contaminated by this virus. During the entire process, we need to stay focused on the home buying activity and the process of the inspection.

Here are some wonderful opportunities for the clients to participate during the month of June.

New Decade – New Home Seminar Series that was schedule for April 18, 2020 has been postpone until September 12, 2020. The current format was to do a live presentation but due to the current Covid-19 health issue, the decision to have a live in person event will be made soon.

“First Responders” (Active Military, Veterans, Police, Fire, Health Care Professionals) I’m giving you a 10% discount off the following services:

“Home Inspections Services”

and

“Residential Design Preliminary Services”

Just produce documentation supporting your claim as a “First Responders” and you will receive your 10% discount.

This resolution will end on December 31, 2020.

NACA members, I wanted to say congratulations for you going through the NACA Home Buyer Program on home ownership. So as a thank you for you going throughthe program, I am giving you a 10% discount off “Home Inspections Services” during the month of June.

Just produce your NACA ID # and you will receive your 10% discount.

More information and offers are coming soon.

Thank you for your business.

#203kconsultants #NAFHAC #203kdiscoverydays #203kproject #203klender #203krehab #203kloan #203kcontractor #renovationproject #renovationloans #homerenovationloan #203kconsultant #203kcontratista #203krehabloan #203kloans #fhaloan #fha203k #generalcontractors #homeinspectors #homeinspections #buildingdesign #residentialdesign #homedesign

A PAUSE… DAWN COMING SOON

Light at the end

Okay, being “Staying in Place” at home is beginning to get to us. However, hope is on the horizon as in Michigan, May 1 is fast approaching and the state government will have to make some important decisions. It does not mean that we will be getting our lives back before Covid-19 but it means that we will began to do a slow burn back to becoming a normal society. As the weather gets warmer and some of our industries are getting to go back to work (housing market, I hope), golf course (please) and attending church service in person (cannot wait) we will live by the specter of seeing if the health experts gets the prediction correct on Covid-19 second wave is coming or if we as a society can withstand a possible “Staying in Place” order during the summer or fall months.

Since I am an opportunist at heart, I am hoping for the best but preparing for the worst. So, until the time we are getting the all clear from the proper authorities, PPT Inspection process under Covid-19 will continue.

Why?

Because even when other industries will be permitted to go back to work (housing market), there will be a transition period and during that time the protection of the client and their representatives, seller and their representatives and to myself will be paramount. As a reminder…

  • Clients should limit the number of people attending inspections to as few, as necessary.
  • All parties should meet the inspector in front of the property- NOT inside the property.
  • Inspectors will provide disposable (non-vinyl) gloves for each participant. Masks will not be provided but may be brought and worn if desired.
  • All gloves used during inspection will be collected and disposed of immediately upon exiting the home.
  • Sanitary wipes and/or hand sanitizer will always be accessible during the property inspection.

It is important to recognize that as home inspectors and/or rehab consultants, we are entering homes and touching surfaces that may be contaminated by this virus. During the entire process, we need to stay focused on the home buying activity and the process of the inspection.

Hope that helps and its almost over. Yay.

A PAUSE…

Prevention-Graphic

The Covid 19 Pandemic is real…

Whether you personally ascribe to the validity or severity of the crisis, others are. For that reason, I believe it is time to start taking actions to provide calm and confidence to our employees, clients, referral partners and the community in general.

These are the actions that PPT Inspections are implementing in order to assist with your protection during property inspections. That these measures include the following:

  • Clients should limit the number of people attending inspections to as few as necessary.
  • All parties should meet the inspector in front of the property- NOT inside the property.
  • Inspectors will provide disposable (non-vinyl) gloves for each participant. Masks will not be provided but may be brought and worn if desired.
  • All gloves used during inspection will be collected and disposed of immediately upon exiting the home.
  • Sanitary wipes and/or hand sanitizer will always be accessible during the property inspection.

It is important to recognize that as home inspectors, residential designers or rehab consultants, we are entering homes and touching surfaces that may be contaminated by this virus. During the entire process, it should be stressed that conversation should NOT include discussion of the current health situation/crisis (everyone knows it by now) but stay focused on the home buying activity and the process of the inspection.

By using reasonable, common sense practices, we are showing our customers that it is “business as usual”- with a few adjustments. Your referral partners and clients will appreciate your pro-active efforts on their behalf and will see you as the calm, caring professional who knows the importance of their home buying process but also recognizes the need for extra precautions during this time.

I hope these suggestions will be useful to you over the next weeks and months – as the situation resolves.

If you have any tips or suggestions, please comment and remember, we are all in this together.

Sincerely,

Walter L. Williams – President

People, Places & Things LLC – Residential Design, Architectural Drafting and Space Planning

PPT Inspections – Home Inspection, Building / Site Inspection and HUD 203k Consultant

 

 

New Decade – New Home Seminar Series

Home Seminar Design Final #1

What better way to start off a new decade than with buying your very first home? Of course, the process can be quite confusing. PPT Inspections is here to help by hosting a homebuying and home inspection seminar in Detroit, MI.

When you join our first-time homebuyer seminar, you’ll get valuable information about:

  • The homebuying process from start to finish
  • The power of using a rehab loan to get the house of your dreams
  • Finding the neighborhood and home that is right for you
  • What to expect during the process, from showings to closing

We’ll be hosting our first-time homebuyers seminar on Saturday, April 18th from 9:30 a.m.-3:00 p.m. Continental breakfast and lunch will be provided. The seminar will be held at:

PW Community Development Nonprofit Housing Corporation
20011 Grand River Avenue
Detroit, MI 48219

In addition to learning valuable information about the homebuying and home inspection process, all attendees will receive a gift bag and will be entered to win prizes

RSVP today by  reserving your seat via Evite at…

https://www.evite.com/event/0310HOJCF7RKWEZRMEPKJYCD3RPNDQ/activity

Use the QR Code…

QR

Or call to get more information…

877-399-203K

Happy Valentine’s Weekend!!!

Hearts

I hope everybody had a nice “Valentine’s Day”. So, let me give you an update…

Back in the new year, you were eligible to get an 10% discount off the following services…

“Home Inspections Services”

and

“Residential Design Preliminary Services”

We’ll because I’m still in a loving mood, I’m extending the sale until the end of the month. Just mention the discount before services rendered.

Enjoy your Valentine’s Weekend.

What can I do for you in 2020?

2020

Happy New Year!!!

A new year and a new decade is upon us and as I had time to reflect, I have a lot to be thankful for. Since everybody gives a “New Year’s Resolution(s)” I was thinking on what kind of resolutions can I give myself. After thinking about it, I concluded that the best “New Year’s Resolutions” that I can give to myself is to give to others.

So, here are my best “New Year’s Resolutions” that I can give to you…

Resolutions #1 – To all the “First Responders” (Active Military, Veterans, Police, Fire) I’m giving you a 10% discount off the following services:

“Home Inspections Services”

and

“Residential Design Preliminary Services”

Just produce documentation supporting your claim as a “First Responders” and you will receive your 10% discount.

Thank you for your service protecting us.

This resolution will end on December 31, 2020.

Resolutions #2 – Now until “Valentine’s Day, 2020”, I’m giving the same 10% discount off the same services just like the “First Responders” to everyone else…

However, this resolution will end on Valentine’s Day, February 14, 2020 for everyone who is not a “First Responder”.

That’s all for now. Enjoy ringing in the New Year and let’s get ready to go to work.

 

Why a “Renovation Loan” Works For You – Part 5 – The most important player in the rehab home renovation process.

Part 5 – Rationale:

You get a phone call from a potential buyer or from a lender asking the question – Can you do a 203K Work Write Up? Normally the answer should be “Yes”. However, after getting the information on the details of the project, I ask this question, “Has the buyer selected a general contractor?”

Well…

This may sound absurd but the most important person on this process is not the lender (whom controls the loan and distributes the funds) nor the borrower (whom found the home and will be paying the mortgage) but you guess it, it’s the general contractor.

The role of a General Contractor

contractor 1

Most rehab lenders have a standard procedure to assess a contractor’s eligibility. A general contractor is required to submit cost estimates along with the license documentation, a copy of the commercial liability insurance policy needs to be submitted for approval. It does not hurt to have references, credentials and financial data at the ready, if asked from the lender.

Then an agreement is reached with the contractor to complete the work at the agreed price within the stipulated timeframe. An IRS w-9 form must also be collected for the general contractor and for any other vendors involved in the completion of the renovation work. This step is necessary prior to release of any fund advance to the contractor for initiation of the repair work.

A general contractor is expected to complete the proposed work in accordance with the details outlined in the written estimate, homeowner/contractor agreement and approved change orders. All the repair work and improvements should be completed under the applicable local codes and ordinances. Several permits are necessary and must be secured prior to beginning any concerned work. All payments required for permits will generally be listed in the 203k contractor’s bid sheet.

Contractors need to understand the following

The borrower is responsible for approving, selecting and hiring whichever contractor they want, however for a large construction project, I recommend at least three contractor’s bids, including the borrower’s contractor. Why? Because as the borrower, you will have to live with the results after the contractors collected their payments and the borrower will have to pay on the mortgage. During the construction process, there will be issues that we all have to agree on. In addition, each contractor bid will not come out the same price, but the scope of work will have to be the same as the Preliminary Work Write Up (Feasibility Study). The lowest bid does not mean the borrower will select that contractor. That contractor may have to explain how they got those numbers. My job as a consultant is to review each of proposed cost in thorough detail. It is my responsibility to ensure that the repair costs are acceptable and within reasonable estimates. Anything that is deemed to be excess or unnecessary is resolved on consultation with the borrower, contractor and the lender.

The compensation structure setup by these types of loans does not always permit contractors to receive pre-renovation deposits/start-up funds. This is very important, general contractors must be financially capable of affording the start-up costs and ongoing expenses with any rehab renovation project. Ample credit lines with suppliers and subs and/or sufficient capital/reserves will be verified as part of the certification process.

So, how do the general contractors get paid?

contractor 2

The contractors are paid in a series of draws by the borrower’s lender through escrowed funds. At closing, the lender places the rehab/improvement funds into an escrow account. The general contractors need to be as knowledgeable as possible regarding the rehab process. The exception that a general contractor will receive funds at startups is the FHA 203k Limited. The general contractor receives a maximum of two (2) payments. After closing on the home, contractors may receive a portion of the job cost (maximum 50%) as a pre-construction payment, subject to lender approval but may take weeks to arrive. Therefore, contractors must be financially capable of affording all the start-up costs and a portion of the ongoing expenses with the 203k project (ample credit lines with suppliers and subs and/or sufficient capital/reserves). Once all the work is complete, the contractors can request final payment of the remaining portion of the job cost according to the proposal that was submitted and approved by the borrower and the lender.