Hasta La Gadget!

TomTom didn’t only unveil fitness wearables at IFA — it has also taken the wraps off a pair of navigation devices, the next-generation GO devices and the entirely too intriguing VIO. The latest TomTom GO range brings the company’s most advanced satnavs to date, according TomTom, while VIO brings a new twist (and unique design) to an aged technology: it’s … Continue reading

Several days ago, Apple confirmed that they would be hosting an event on the 7th of September in which presumably the new iPhones will be announced. However as it turns out, Apple might have more than just an iPhone announcement up their sleeves. According to the folks at French website iGen.fr (via iClarified), we could be looking at new Beats by Dre products.

This is according to an email mistakenly sent by the Beats PR team which reads, “The Apple Keynote, awaited by all lovers of technology! Do not miss this event, a selection of new Beats by Dre products will be revealed September 7th, 2016.” The original post included a screenshot of the email but they have since been asked to take it down, but it’s pretty much the same thing.

Now Apple typically never announces what they plan to announce, even though we guess based on their schedule it’s not that hard to figure out, so this would really be a first in which they are being very specific about it. It is unclear if we are looking at new headphones or new speakers, but if it is the former, we wouldn’t be surprised to see some Lightning-only variants designed specifically for the new iPhones which is said to have its headphone port removed.

In any case if you are after some new Beats products, do check back with us next week for the official details.

Apple Might Be Announcing New Beats By Dre Products September 7 , original content from Ubergizmo. Read our Copyrights and terms of use.

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When you’re doing no rehab or other work on a home you’re flipping, wholesaling is a term many use. You’re locating a deep discount deal that has enough difference between what you’ll pay to buy/control it and what your buyer will pay for it to allow you some profit in the middle. Your value in this type of deal is purely in your ability to locate and lock up properties your buyers either can’t find or do not want to spend the time and effort to find.

Let’s use the example of your search for a property to flip to a rental property investor who wants it pretty much ready to rent or needing only minor fast cosmetic work. You know this investor buyer’s requirements well, and she/he has told you they want another home and given you the characteristics; bedrooms, baths, area etc.

You are constantly marketing through classifieds, bandit signs and Craigslist, and you have a possible fit with a home from a distressed owner. You also know what your buyer has told you they’re willing to pay for a rental home, roughly 10% to 15% below current retail market value.

Now the wholesaler has two ways to approach the contract with the seller. Let’s assume that the home can be purchased for $112,000 with a current retail market value of $156,000. Giving the buyer a 10% discount from list. That would be a selling price of $140,400.

You have two choices for getting the deal closed. You can actually contract to buy the home and have a closing for that, closely followed by the closing with your buyer. To do that, you’ll need to fund the purchase, which you cannot do without a short term transaction loan. You can get one, but the cost with interest and charges is going to be around $3,500.

Pros

• Your buyer doesn’t know what you paid for the home, only what you’ve offered to sell it to them for, which is an acceptable price for their needs.
• Your approximate profit is really pretty good, as it will be around23,000+/- after your closing and other costs on your purchase and after the transaction lender takes their fees.

Cons

• Your risk increases, as should the unlikely situation of the buyer backing out happen, you’ll have to scramble to find another buyer while paying the transaction lender extra money for the extra time.
• If that happens, you’ll also likely have to sell cheaper to attract an emergency buyer, so your profits will be hit hard.
• Your other option is to use an assignment contract. This is pretty much an identical contract to the other one except for the identification of the “Buyer.” Instead of just your name or your business name, you’ll have that plus a phrase like “and-or assigned,” or “or assignees” or similar. Basically you’re telling the seller that you may be assigning the contract to another buyer.
• You assign not only your rights in the contract, but also your obligations. So, doing this you would execute an Assignment of Contract document with your buyer to do that and you’re out of the deal completely. Your buyer will be taking it the rest of the way to closing.

Pros

• You have only your earnest money at risk, and only then if you can’t get your buyer to pay you that when you sign over the deal. That’s a negotiation item.
• If the deal doesn’t go through or for some reason doesn’t close, you don’t get any of your projected profit, but you don’t own a home you have to go into overdrive to sell either.

Cons

• Your buyer is assuming the contract, so they have to see it. They know what you’ve negotiated to pay. They may not want to pay you the price you thought you would get, instead negotiating it downward, cutting your profit.
• In fact, some buyers will tell you flatly that they will only pay a specified spread between the buy and the sell if you use an assignment contract. They’re taking on some extra work and risk taking the deal through to closing. If so, maybe this buyer will only pay10,000 over your purchase price, or122,000. Not bad, but definitely less than the other approach.

Some wholesalers prefer the assignment contract for risk and time involved reasons. There is no need to work with a transaction lender and the time involved in the deal for the wholesaler is far less than a double closing with lending fees.

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