Everything Else

Other questions about circuit breaker boxes often asked are about loose or damaged breakers. One breaker that is obviously misaligned from the rest is probably loose. While we do not recommend touching components inside the panel, you should be able to touch the breaker handle safely. Homeowners have to do this to turn the circuit breaker on and off. Any breakers that are loose should be noted for replacement.

Breakers with damaged bodies or handles should be replaced. What do you do when you find a fuse blown or missing? What if you find a breaker trip or in the off position? Leave it!! There is usually a good reason it is off. You can electrocute somebody or start a fire if you turn the circuit back on.

Another commonly ask question is, "can you use any breaker in any electrical panel"? Every panel manufacture makes breakers for its panels. Only those breakers designed for that panel should be used in it. Different breakers may not fit properly and may create dangerous, loose connections.

Question the installation of breakers made by one company in a panel made for a different company. Again, note this as a question rather than a conclusion. The situation should be described as unusual and the possible problems and complications that come with improper installation of circuit breakers!!

HAPPY REHABBING

I am going to talk a little bit about circuit breakers since I have had a lot of questions concerning the circuit breaker box. Every electrical panel is designed to accommodate a given number of circuits. Some manufacturers provide half sized twin breakers so you can get two circuits into a spot designed for one breaker in the panel. This is convenient because it allows you to squeeze an extra circuit in, but it can lead to too many circuits in the panel,.

There should not be more circuits used in the panel than the panel is rated for. This information is usually on the panel label. A total of 42 single pole circuits is the maximum allowed in the largest panel available.

HAPPY REHABBING!!!

A man's favorite donkey falls into a deep precipice;
He can't pull it out no matter how hard he tries;
He therefore decides to bury it alive.

Soil is poured onto the donkey from above.
The donkey feels the load, shakes it off, and steps on it;
More soil is poured.

It shakes it off and steps up;
The more the load was poured, the higher it rose;
By noon, the donkey was grazing in green pastures.

After much shaking off (of problems)
And stepping up (learning from them),
One will graze in GREEN PASTURES.

I did not write this story. However, I try to live by it. We all have problems in life. It is very easy to give up an bury your donkey. However, if we look at these problems as steps to the greener pasture we will not lose focus.

Being a coach is fun. You get to meet great people, travel around the country and keep up to date on the most effective ways to make money. The best part to me is meeting all of you. Having an opportunity to see someone come in and change their life is AMAZING. to see someone get their financial house in order and then start living their dreams is a treat.

All of you and your success is the lifeblood of what we do. If you don't succedd then we don't have success. You cannot imagine how interesting it is to ask a question for better understanding to a student you have once taught.

All of the coaches wish you all well. Keep up the good work. Be diligent. You were made to succeed.

I have a lease option deal in putting together and would be doing a sandwich lease to another tenant buyer. My question is when I have the tenant buyer pay the deposit money for the option to buy the house which would be on a separate contract from the lease contract, can I get the money up front for me to spend? Or does this money have to sit in a escrow account until the tenant buyer exercises on the option contract. From what I learned and Deans successful student Greg Murphy says, you get paid up front, the middle of the deal and at the end of the deal. I'm confused and need some advice from someone who has down a lease option deal.

EDGE 2014 is in the record books for another one of Dean's events that will change lives! Heck, I might even say it will change generations! It will change neighborhoods and I believe will even have a positive impact on the economy by DGers doing one house, one deal at a time coast to coast!!!

I am looking for JV partners for 2-5 yr terms who are interested in working with me.

The ideal JV would be someone who can bring the funds to cover purchase, rehab, expenses for the properties I have in exchange for a 50/50 split of all cash flow after expenses and 50/50 split of the equity. It would be a 2-5 yr JV agreement and at the end of the term the property can be sold or JV's equity bought out.

For example:

As the Catalyst (Investor) I have the deals and the JV brings the funds to complete the purchase, profits and equity are split 50/50.

Say the house is worth 100,000 - I have it under contract for 35,000 and it needs 15,000 in rehab. The JV is all in for 50,000. Todays value is 100,000 - in 5 yrs it would be worth more, but today's value will work for the example.

I am wondering how to get started with no money, no job, and bad credit.

As a coach, one of the questions I am often asked is, "How do I find an agent?"

Sometimes I think we go into overdrive when we start talking to an agent. We give them so much information that we may drive them away. Remember, they do not know what we know. By and large an agent does not have the same concept of what an investor is as compared to what we know. These differences can scare an agent off because he or she simply does not understand what we want to do.

Keep it simple. Tell an agent we are investors that have success by looking for particular properties. The following are what we are looking for in a property:

1. 180 days on the MLS
2. Vacant
3. The price has dropped at least once
4. The property needs rehab work