Professional Home Inspector Archives

What Do I Need To Know When Considering Construction Insurance?

In the building construction industry there are various kinds of insurance you should consider to possess before you carry out any kind of development work, these are typically as follows:

Liability Insurance – this would include Public Liability Insurance which would protect the firm against any claim made in regard of damage to property or injury.  Additionally Employers Liability Insurance is required by law and will also pay or defend a claim made by your staff.

Tools and Plant – you can actually cover your own tools and your employee’s tools.  With regards to plant this could be your own machinery and also machinery that’s hired in.  It is additionally strongly advisable you attach terrorism on your machinery insurance.

Short term Properties – you should integrate this on your insurance policy for any sort of porta cabins you have on site when undertaking work.

You must make certain that construction insurance you have set up is in accordance with the agreement from your client.  This means making sure that particular things like the contract limits are arranged to the appropriate level.  As well as reviewing oneself, it is also recommended that you get the broker or even insurer to examine your contract against ones own insurance coverage to ensure you are properly covered.

If you work with sub contractors then its also your obligation to confirm they have the correct construction insurance set up too.  You ought to check their policy at each renewal!

Construction insurance is generally for building contractors, electrical contractors, plumbing related contractors, tile contractors and then any other company within the development sector.

Should you be linked to building work needing such functions as excavation, piling, demolition or perhaps underpinning, there’s insurance obtainable known as 21.2.1 insurance cover.  This covers a builder against any liability or loss to adjacent property.  This can be caused by subsidence, heave, vibrations or other causes from the work being conducted.

It is a wise decision to contact a specialist agent who can give you advice on the cover that is necessary for your company.

Construction Health And Safety Regulations

You’re more than likely to encounter legislation regarding Health And Safety Regulations in your time as a construction worker, whatever your role. The biggest problem being that while these documents have been created with your safety in mind, they’re not easy to understand. We’re not lawyers, after all.

The biggest single idea you can have with any legislation is to find out which sections apply directly to you. Areas of legislation which have been designed, for example, for on site chemical work, will probably not apply to you. Things like this don’t make a difference to many sites, so can be quickly negated. The more widespread safety aspects are the things we all need to look for. Just remember that health and safety regulations are there for your safety. It’s easy to be suspicious of the legitimacy of regulations, but try not to be.

The main document of your health and safety material should cover many things, but should start with a general overview of the paper. After an initial run down of the main generic points of the paper, a number of specific amendments are made. You should study these if you are involved in construction in any way that might be applicable. Listed here are aspects of construction that we’re all probably used to, for example high rise working and chemical contaminants.

Health and Safety for your day-to-day site running is next. Everything from flooring types and access ways should be covered and things like the kind of ladder you use will be in there. Bear in mind that this document is from the minds of industry professionals. It is be utterly comprehensive, and isn’t a great bedtime read.

You have to study fire routes and procedures, as well as emergency fire drills, regardless of whether you work in a food hall or high rise construction. It has a personal effect as well, namely that if you are lax in this respect, you will get fined.

One thing that is often overlooked is noise levels. You will be informed of your maximum decibel level, and failure to comply will result in fines at best. at very least this is easy to understand. Don’t forget that it’s not just about how much noise you make, but also when you make it.

There are way too many aspects to your health and safety regulations to really delve into here, but suffice it to say that it’s amongst the most important part of your job. Obviously there are fines, and even imprisonment involved, but the real core of the issue is that you need to ensure the safety of those around you, as well as yourself. You should take time out to read and re-read the documentation and make sure you have a good handle on what is required.

Realtor Business Plan – Should You Have One?

“In any type of business, it is imperative that you have a plan. Without a plan, you will not be able to handle risks and unexpected events and this can put everything in disarray, if not in bankruptcy. Even in real estate, you need to have a plan so you can properly manage your dealings and everything that is vital to the success of the little steps you make.

As a realtor, you need a realtor business plan which can include a cash flow forecast, sales forecast and a projected profit and loss account for at least three years. Businesses that are larger should also draw up a projected balance sheet. The figures that will be used should be reasonable – avoid being overoptimistic. Aside from this, you need a very good marketing formula to effectively reach out to your future clients.

The people who will make the most impact on your business are, of course, the sellers. When it is easy for them to help you sell their house, you will sell more of your own listings in less time regardless of market conditions. An easy and inexpensive way to make this easy for your seller is to create realtor flyers with a photo of the house, a toll-free number, address and other important information.

Make use of the internet to let everybody know that you are selling your property. In short, the buyer could be your neighbor’s best friend, your neighbor’s workmate, your high school son’s cousins, or your uncle’s friend. This makes it easier for you to reach all of those potential buyers. This kind of strategy generates more interest in your property, increased the odds of a faster sale and increases the number of showings.

To have this kind of strategy implemented, you’ll need:

A digital camera (digicam) to get a picture of the house and the ability to download the pictures to your PC.

Access to MS Publisher or programs like it to create your business cards.

A landline number with multiple extensions. You will record two to three-minute messages describing the house for each extension.

Always remember that a sold listing is a good listing. Use inexpensive strategies and get your seller involved so you sell you more of your own listings, and make twice your projected income. Remember, it’s all about your plan. This is simply an indispensable component in every successful business there is.”

If you want long term success, you need to go beyond details such as call capture mortgage leads and call capture service marketing. A big plan that holds all of these together is the only thing that makes everything work.

What About Construction Safety Training?

Finding the right Construction Safety Training is absolutely essential to any construction manager looking to ensure the safety of his workforce. While finding the right Construction Safety Training for your site may be one well worth spending time looking into, the curriculum for each is exactly the same.

Initially, an outline of the course should be given, and the course objectives laid out. This is arguably the most important part of any training course, as it sets the scene and establishes exactly what trainees are expected to come away with from the course. In this should be a run down of the type and frequency of accidents in the workplace. This alone should highlight to trainees the degree of importance placed on Construction Safety Training.

It’s very important to be aware of the legislation regarding occupational health and safety, and any good Construction Safety Training should highlight the regulations appropriate to your site at the outset. This is where the most pertinent aspects of health and safety legislation should be pointed out. There are a number of alterations to legislation, and given that many of these laws are somewhat aged, finding the right information and supplying it to trainees is what separates a good course from a lousy one. Case studies and legislative specifics should be detailed here, as well as any salient provisions from the main workplace safety act.

It’s important that trainees get an good idea of the structure of the management system in the construction site they work on. This is something a more tailored course will offer, and is a good indicator of a quality course.

The main bulk of the course, however, should cover the basics of Construction Safety Training. Things like day-to-day monitoring of activities and the identification of types of work done on a construction site, along with their associated dangers. This should also cover the types of inspection that your site is open to, as well as case studies detailing the elements of Construction Safety Training that often go awry when workers get down to the nitty-gritty of construction work.

Things like earthwork and excavation, as well as specifics such as piling, underground services work and marine work will all be covered, even if it’s not applicable to your workforce. The fact that a course does go into this kind of aspect of Construction Safety Training is a good indicator that it has your best interests at the core of its philosophy.

Finally, accident notification and reporting should be comprehensively covered. It’s here that so often construction managers come unstuck and assume that if everything was done to prevent an accident, that they are in the clear. This simply isn’t the case. The nature of the society we live in today is one of litigation and legal action for the smallest infringements in documentation. Failing to correctly identify and concentrate on the importance of documentation in Construction Safety Training is a sure route to failure. As I said before, finding the right Construction Safety Training is essential, and it’s well worth spending time looking at.

Finding The Right Construction Safety Gear For Your Site

Finding the right Construction Safety Gear is not simply about sourcing a supplier and buying a bunch of clothing to fulfill health and safety requirements. There’s much more to Construction Safety Gear than gloves and hardhats.

No, Construction Safety Gear compliance is all about ensuring the absolute safety of the workforce on your site. If you fail to do this, you are failing in yourduty as a safety manager, pure and simple. Obviously, much of your consideration in this area is likely to be with PPE, or personal protective equipment.

Be aware, however, that Construction Safety Gear and personal protective equipment is not just concerned with following the rules. There are a number of things you need to consider. The most important of which is, ultimately, is your workforce as safe as they can possibly be?

When it comes down to it, that’s the most important question you can ask yourself. This has a number of implications you and your considerations when sourcing, buying and equipping your workforce with Construction Safety Gear. Supply is not enough to ensure compliance. Sure, you can hand a guy a pair of safety gloves, and assume he will use them correctly, but that assumption will equate to danger, pure and simple. If he is not properly trained in their use, regardless of how simple it may seem, you are endangering him and others around him. For example, were he to use them to wipe up a chemical spill, then move onto a high heat area, there is a distinct possibility that they will catch light, endangering him and others.

No, training is and essential point of Construction Safety Gear considerations. Also, you need o consider the end result of the supply of Construction Safety Gear. If, for instance, workers are supplied with goggles and hard hats, then you need to ensure that neither piece of Construction Safety Gear will interfere with the other. If this happens, you are essentially rendering both pieces of equipment worse than useless. This applies to so much in the Construction Safety Gear field. Due to the non-standard nature of the equipment, there is plenty of room for this to occur.

Maintenance is another key aspect of ensuring Construction Safety Gear compliance. Sure, you can have the most expensive PPE in the world, but leaving it in an unsuitable place, even for a short period of time, could not only mean added danger for the workforce, but extra costs for you. Things like safety netting should be tested and dealt with on a frequent and regular basis. If this doesn’t happen, you run the risk of safety equipment failing when it’s needed most.

Remember, the idea of PPE and Construction Safety Gear is to keep the workforce as safe as possible. If it fails to do this, you need to look at other ways of ensuring Construction Safety Gear compliance.

Ensuring Appropriate Safety On Construction Sites

It’s undoubted that wherever you are in the world, Safety On Construction Sites is essential to any kind of construction work. Not only will you be liable for any number of legal issues, but more importantly, you put your workers at risk.

With this in mind, far and away the best way toimprove safety on any site is to make sure everyone involved in the building works is enrolled on the appropriate Safety On Construction Site training. There are a number of places that will ensure your entire team is trained to an excellent standard. It is, after all, a very lucrative business. Further details can be gained from your government’s Health and safety executive.

It’s amazing to think we work in as dangerous an industry as anyone. The figure of fatalities in our industry can be reduced significantly with the appropriate training. Accidents always seem to be drawn to those with little common sense. Just make sure they have the appropriate Safety On Construction Sites.

The most common cause of accidents to any construction worker are parts and materials, floor conditions, worker movement, hand tools and machinery. Simply concentrating on those elements would reduce the fatality rate, but any decent Safety On Construction Sites should include some of the points below.

First aid is essential for any Safety On Construction Sites. People have accidents, we all know that, but if the nearest person doesn’t have the right first aid training, they can cause even more damage. Supported scaffolding should feature for the same reason. The chances are that whoever is working on a scaffold didn’t put it up. In situations like that, you need to know that it has been erected correctly.

We use tools every day, but do we really know how to handle them as safely as possible? Probably not. If you’ve been injured by work you’ve done in the industry, you may have more respect for the dangers now. Makes sense doesn’t it. Make sure you treat power tools with respect, before you have an accident. Do you have enough of an understanding of working at heights? Even if you are experienced in height work, you should understand all the issues around this. While it’s true that if you’re more confident at heights, you’re less likely to have an accident, but a training course will show you the most common dangers, and how to spot badly implemented safety regulations.

Basic on-site safety is absolutely essential. We may already know about the dangers on any given construction site, but a good course of training will allow you to become much more aware of those dangers by giving you concrete advice and tricks to spot the specific dangers around you. The legal side of health and safety is also an increasingly important aspect. Any Safety On Construction Sites course will make you aware of all the pertinent information about Australia’s occupational health and safety regulations.

Freddie Mac Takes On The Short Sale Transaction

Short Sale Fraud – It’s not a law; nor is it an official policy, but it’s definitely going to be a problem regardless. The latest opinion released from Freddie Mac on short sales presents legal and practical issues for short sale investors.

On Friday, April 16, 2010, the organization posted an educational article titled “Emerging Fraud Trends: Short Payoff Fraud.” The article described a new trend in short sale fraud that happens when a short sale buyer flips a newly acquired property to another buyer and “pockets the difference.” This could spell trouble for investors who have been short-sale flipping, which means negotiating a short sale with the bank, then selling the property immediately to another buyer for a profit of a few thousand to tens of thousands of dollars.

The Freddie Mac poster went on to describe scenarios and red flags for short payoff fraud. The scenario involved a facilitator, whose description matched that of a real estate short sale investor, who negotiated a deal with a lender to short sale a home worth $80,000 with a debt of $100,000 for $70,000. In the scenario, the facilitator fails to notify the bank he has a higher offer, 95,000, on the house. When both transactions close and the facilitator pockets his profit, Freddie Mac considers him to have committed fraud since Freddie Mac has now taken a “larger than necessary” loss on the sale.

The article urges buyers, sellers and lenders to be on the lookout for short payoff fraud red flags. These flags include sudden borrower default, a borrower who is current on other obligations and the buyer of the property being an entity rather than a person. The article also tells readers to keep an eye out for resale options in their purchase agreement.

Buyers, sellers and lenders all are encouraged to report short sale fraud the second they become aware of or suspect a second purchase contract for a higher price. This may not yet be a law, but the signs are not good when Freddie Mac has posted such a direct attack on short sale investors.

Real Estate Investing Tips For Today’s Market

Bulk REO Investing

Real Estate Investing is a tough business right now. While the business of buying and holding real estate as a long term investment remains a legitimate and viable strategy for wealth building, profit is no longer guaranteed as it once appeared to be.

With that in mind, the astute real estate investor will consider some specific real estate investment concepts to complement the “tried and true” strategy of long-term buy-and-hold investment houses:

* Internet Marketing – The internet continues to grow at an astounding rate and its value as a marketing medium grows even faster. With the expanding influence of social networking and the ability of “normal” internet users to directly interact with each other, the internet has become a center of social persuasion and an extremely viable medium for “getting the word out” about products and services available to average people. The benefits aren’t reserved for large businesses, either. While the internet has become increasingly competitive in recent years, it’s still imminently accessible as a marketing medium even for solo entrepreneurs with a modicum of determination and education.

* Bulk REO – the prevalence of foreclosures in our economy has put mortgage lenders into a difficult position. With large pools of foreclosed properties on their books, it is no longer efficient for these lenders to sell their foreclosed properties one-by-one through real estate brokers. As such, mortgage lenders are increasingly opting to sell their foreclosures in “packages” to well-funded investors, at steeply discounted prices. Bulk REO investing is a rapidly emerging trend and will continue to be a significant tool for real estate acquisition and disposition until such time as the current foreclosure crisis abates and the foreclosure rate regresses to more normal historical levels.

It’s a different world in the real estate investment business. It would be very, very simple to think that the foreclosure crisis has caused the door of opportunity to be slammed entirely shut. Yet that’s simply not the case. When one observes the state of the real estate market, it is undeniable that fundamentals matter more than ever. For example, the selection of the local real estate market is of greater importance than ever, considering the huge disparity that exists among the thousands of real estate markets across the United States. Additionally, the role of regulatory compliance is greater than ever given the activist nature of the current presidential administration.

Without a doubt, there are very major challenges in today’s real estate investing market. But with some persistence, determination and creativity, there is still plenty of opportunity.

Fundamentals Of Bulk REO Investments

No generation in American history has ever experienced the number of foreclosures and defaulted mortgages as is happening now. However, opportunistic real estate investment professionals are turning the recession into great profits with a bit of creativity.

The new opportunity is known as ‘Bulk REO Investing’ or ‘REO Package Investing’ and it’s a huge opportunity.

Consider with me, if you will, the fundamentals of the Bulk REO business.

To understand investing in Bulk REO, you have to understand the foreclosure process.

Mortgage lenders faced with a non-paying home owner send a large volume of threats, warnings and documentation to the borrower who is late. The lender directs the subsequent timing of the actual foreclosure proceedings. The ‘pre-foreclosure’ time starts with filing of foreclosure paperwork and concludes at public auction.

Foreclosure is completed when the defaulted property is auctioned. If there are no buyers for the property at auction, the property is returned to the lender. The property then receives the designation of being an ‘REO’ or the more formal name, ‘Real Estate Owned’.

Lenders usually try to unload their REO properties at close to retail price by listing their REO’s with a real estate broker. Yet with increasing frequency, REO properties are being sold for pennies or dimes on the dollar. However, the purchase of a ‘package’ (or group) or REO properties is the trade-off for receiving such great prices.

There is huge profit potential in these REO packages for qualified real estate investors. REO packages are easiest to buy and sell with a well regarded source of financing in place. There are many sources of funding for these transasactions including: hard money and commercial financing, as well as non conventional sources such as hedge funds and private investors. Additionally, one man is becoming very well known in the field of bulk REO investing, and his name is Salvatore Bushemi of Dandrew Partners, a New-York based hedge fund.

How to Successfully Organize and Operate a Home Inspection Business

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