Which is best room for placement of an air conditioner?

Wherever it gives most comfort is where it should be installed. If you only have one air conditioner then we usually suggest bedroom. This is because most people find that if they can sleep comfortably during a hot summer night then their next days work will be a lot easier. Getting through a hot day at work becomes a lot easier when you know you will sleep comfortably that night.

Some people do not like a cool sleeping environment so they will tend to place it in a living room or family room. Or some people will place it in family room because whole family can sleep there. Get out sleeping bags and turn it into an adventure for young ones. Beats waking up in morning to find a dog, cat, and four kids in bed with you.

Also window air conditioner can be noisy, which may disturb sleep. Others find drone of fan actually promotes sleep because all neighbourhood noises are drowned out. Some people say air conditioner works as well as a sleeping pill

But whichever room you eventually pick don’t expect impossible from you’re A/C. It is not meant to cool more than one room or one open area. Air conditioners will not cool other rooms? This is because blower in a window air conditioner is not very powerful. It is sized to cool one open area, not a number of interconnected rooms. Therefore once again a couple of smaller units may be better for your home than one large unit.

Lastly, remember to properly secure air conditioner in window. Once installed a piece of wood to stop window from being lifted up is a good idea. If you have wooden sills simple addition of a wood screw at top of raised window (the one you had to raise to install A/C) will only take a minute. Otherwise an intruder could gain access to house by lifting window and letting A/C fall out. This could result in loss of both your valuables and air conditioner.

The successful investors do deals with low risk. Deals that are so robust that even if almost everything went wrong they'd still come out with a profit.

BUILD IN A SAFETY MARGIN

For example, suppose you have a rental with a positive cashflow. Is your cashflow high enough or your option payment big enough, that even if you had to evict your tenant for non-payment and it took you 2 months to fill it with another cash-paying customer, you'd still come out ahead?

Or, is your investment to value so low that even if you had to offer your buyer a big discount for a quick sale, you'd still walk away from closing table with a fat check?

In real estate things can and usually do go wrong. It's Normal. So, wouldn't you like all your deals to have these kinds of safety margins?

FIXING THE PROBLEMS WITH YOUR DEAL

Now, if you knew in advance that your risk was too high, or your cashflow was too low, or your profit over life of deal wasn't enough, you'd want to think of solutions.

This is what is meant by being a "transaction engineer". Find solution, fix problem, test it on numbers, and then negotiate it into deal.

And if you can't find a solution (but there always is one) or seller won't accept it—NEXT!

A RISKY DEAL IS NEVER WORTH DOING!

I can tell you from real experience, a bad or risky deal is NEVER WORTH DOING—no matter how enticing vision. The personal stress, heartache, and loss of confidence can be even more harmless than potential financial loss. In words of an ex-president's wife, if you are faced with doing a bad deal—Just say No!

WHAT'S THE ANSWER?

Some experienced investors have a feel for good deals, and can avoid trouble most of time. Others only do a particular type of deal and use a rough "rule of thumb" to evaluate their risk and profit.

However, what's really needed is a "calculator" or computer program that will take in all variables and

> Calculate exact profit and cashflow for all kinds of deals. > Measure and Evaluate financial risk in deal > Use standard and safe criteria for what constitutes a good deal > Suggests alternatives to fix what is wrong

A DEAL EVALUATION TOOL

We've taken tons of real estate courses and looked at all kinds of real estate software, and nothing has come close to what we as investors need. So we decided to create our own Deal Evaluation Tool.

Well after several months of testing and improvement, we now use it for all our deals—short sales, subject to, lease option, rehab, wholesaling, and even some commercial.

Since we can try out different "what-if" scenarios, it's kept us away from some real pitfalls, and helped us negotiate better profit margins. We wouldn't "leave home without it".

CONSTANTLY MEETING THE NEEDS OF INVESTORS

Well, some other investors wanted to try it, so we put it on our website. Much to our delight we now have a community of users and a users group that shares their insights about doing deals and creative ways to use Deal Evaluation Tool.

Their suggestions, are leading to a rapid improvement of already incredibly useful tool. There is just nothing out there like it. We've also put a demo up for those investors who would like to get a feel for using it. And we hold classes for new users.

Knowing all numbers, and having evaluated our risks with Deal Evaluation Tool gives us more confidence in negotiating deals with sellers and more consistent high profit real estate deals.

And that's what we all want, isn't it.

Best of Success,

Richard Odessey

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