Building Consultant
In the end it was another loan that came to the Mercados’ rescue: the Federal Housing Administration’s 203(k), also known as the F.H.A. rehab loan, which is designed to cover not only buying the home but also renovating it, and is then paid back like a regular mortgage. A hybrid that has been around for more than 30 years, the loan program has recently surged in popularity.
Sen. Jack Reed (D-R.I.) introduced the measure that expands the Neighborhood Stabilization Plan, and would offer $15 billion in grants for fixing up residential and commercial properties left vacant following foreclosure. It would also increase support for land banks, which work with communities to buy, hold and redevelop distressed properties as part of a long-term redevelopment strategy.
First and foremost, clear communication is paramount. If you know what you want the contractor to do for you and can clearly relate that need, your contractor is less likely to misunderstand those instructions. Cost overruns almost always start with poor communication. Step #1 starts with You! Write it down.
Reciprocity: in-kind, whether positive or negative, responses for the actions of others. Or…as mentioned in “The Golden Rule”, one should treat others as one would like others to treat oneself. But, do you “expect” something from others when you offer a favor? For me, reciprocity is centered more on “trading” favors than making a negotiation or a contract with another person. Because there is a sense of future obligation with reciprocity it can help to develop and continue relationships with people. I think that’s why “Word of Mouth” advertising is still one of the most effective tools in your Marketing Handbag.
Podcast by ASHI – Inspect that foreclosure!