The How, Why, And Who Of Home Remodeling And Dealing With Contractors

Image by The Library of Congress via FlickrAt sometime in the life of a home owner you decide it's time to remodel. The most common remodels are in the kitchen with new or resurfaced cabinets. The next on the list would be a deck or landscaping. Followed by a bathroom remodel. Being in the building business I found these three the most common requests.

When remodeling it's good to start with a budgeted amount you want to spend. Sticking to this budget is tough because you may underestimate what the projects cost or you go all wacky and want gold fixtures. Your spending a lot of money it's good to go slow in the planning and cost stage of the project.

You must keep in mind that when remodeling your home the money you spend must yield that amount when or if you ever sell. Putting extraordinary or opulent  additions to your home will never be monetarily  realized when you sell. In plain English it means, don't over build for your neighborhood. Keep the final product within the price level of the other homes around you.

Normal and practical additions include:

• Bathroom remodeling
• Master bedroom remodeling
• Bathroom remodeling or addition
• Family Room addition
• Roof Replacement
• Window replacement

Dealing with a contractor can be a pleasure or a nightmare. I am a licensed building contractor, and being around other contractors you learn the ones that do a professional thorough job are a rare breed. It's imperative to hire one that has been recommend by someone. It's a good idea to actually go see the work that was done by the contractor. When I hired a cabinet contractor my wife and I went to a customers house to check out the work.

• Get at least three written estimates
• Check references, including past clients
• Call the local chamber of commerce and Better Business Bureau to check for complaints
• Make sure the contract is clear and specifies what the job entails, including time frame, price and unforeseen changes
• Never pay in full, make a small down payment only if asked, preferable not. (Good contractors won't ask for earnest money)
• If Payment is not upon completion. Set up payments to coincide with work completed. Always hold the final payment till 100% job completion. No if's and's or but's.
• Make sure the contract has a 3-day rescission clause to protect you should you change your mind.
• Ask if the contractor will do the work or will it be sub-contracted
• Check all permits, licenses and insurance needs are meet by the contractor. Check and double check these.
• Make sure inspections are carried out by proper building department people.
• Hold the contractor responsible for cleanup and any damages that should occur during construction
• Make sure materials called for are used.

I have a pet peeve with contractors so I always scrutinize them carefully when working with them. It reminds me in the movie "The Naked Gun", at the end of the movie the bad guy is caught and asked the question, "How can you be so evil?". The bad guy responds, "Don't forget, I spent three years as a building contractor." This always cracks me up because I know so many bad contractors.

Reader: What's your experience with remodeling and contractors?

Keep Your Customers Happy By Offering A Wi-Fi Hotspot.

Image via WikipediaGiving your customers access to an Internet connection can increase the attractiveness of your business. For instance, someone wanting to stay at a Hotel would much prefer to settle in at one advertising a WiFi connection than one without Internet access.

In today's world, people conduct business or simply stay in touch even while they're on vacation and without high-speed Internet access, they're doomed to miss out on important communications. I stayed at a Hyatt while traveling. It had free Wi-Fi and breakfast. I'll be going there again.

Hotel's aren't the only ones jumping onto the WiFi bandwagon. Other small business owners are realizing the importance of catering to their customers' needs, such as the owners and operators of campgrounds, independent bookstores, apartment buildings, family-owned restaurants, and coffee houses.

Even Home Depot has public Wi-Fi. While your picking up something to fix your toilet you can check your email. Many times I grab a cold drink from the cooler and take a seat in the garden furniture department and go online.

It's not just travelers looking for a WiFi connecting spot. Many local residents like to make sure a business carries this feature so that they can get out of the house and relax with access to a high speed Internet connection.

The cost of setting up your own WiFi hot spot is minimal, but it goes a long way in fostering the relationship you want to develop with your customers. It's one must-have aspect many people check on before committing to visit a certain establishment.

If you want to stay competitive with other businesses in the community, set up your own WiFi hot spot and offer it as an added incentive for people to visit your place of business.

McDonald's was wise enough to set this up years ago. It was almost impossible to get online but that has been fixed and now it's a pleasure to sip you Carmel Frappé and surf the Internet.

Even our local YMCA has installed free Wi-Fi. While my daughter takes her class there I go online with my netbook and write a post or check my email.

The first thing you do is invest in some equipment, which will include a Broadband connection and credit card processing in case you want to offer your WiFi services at a fee, as some businesses do to deter squatters from taking up space all day in their place of business.

Buy some hotspot equipment for less than $300 and install it according to the directions. You want to choose an option that delivers good technical support for your customers, in case you don't want to be responsible for troubleshooting yourself.

Small business owners have the choice to buy and install the WiFi equipment and system themselves or hire someone to do it for them, such as a hotspot specialist or management service. Regardless of which installation method you choose, make sure it's running effectively. Then sit back and watch as the loyalty to your business grow exponentially.

With the growing use of smart phones and laptops the decision is a no brainer on installing a Wi-Fi at your business.


Reader: Where would you like to see WiFi at?

Carlos Slim Still No. 1 Billionaire on Forbes List.

Image via WikipediaThis year again Carlos Slim is the wealthiest man on the globe. With over 74 billion, up 20 billion from last year, He has beaten out Bill Gates 30 billion again. But remember Bill has been giving his billions away lately, so he really can't keep up. But it's a shame that Mexican billionaires are needed to do work that American billionaires just won't do.

Forbes list tells us that there are 1,210 billionaires hanging around and the U.S has 413 of them. Our lead in billionaires is on the decline. During the year, 23 new billionaires were created in the U.S., in large part from the increasing paper value of social-media site Facebook. Meanwhile, China added 54 billionaires and Russia, 31. Moscow is the home to 79 billionaires, beating out New York with it's 58. Russia has 115 billionaires and the numbers are growing because the fortunes were born on the rising of commodity prices. With Russia being a bread basket of commodities for the next 100 years, we are seeing a shift from domestic to foreign money sources.

What does all this mean to us today? Nothing for today's citizens but it could be the early signs of a fundamental shift of wealth, power and influence to non-U.S. sources.

Let's face it the globe has been dominated by U.S. wealth and influence for the last 100 years. We are a benign world super power with military bases in over 100 countries. Our economy and dollar is the go to economy when you want security and capital. But maybe not much longer. There are a few new kids on the block who are looking to take their turn on the world stage.

I wrote in another post how this century will belong to Asia, according to investor Jim Rogers. The rest of the world is catching up to the U.S. in terms of finances and innovation. Soon we will not be seen as so powerful anymore.

I can't predict if these changes are good or bad but just that they are happening.


Reader: How do you see it?

Charlie Sheen's 5 Tips To Dealing With Difficult Co-Workers

Image via Wikipedia

Charlie Sheen has finally been fired from his hit show "Two and a Half Men". Over the last few weeks, we have been witness to the rantings and diatribes of Mr. Sheen and have learned quite a few tips on how to deal with difficult co-workers.

We have seen Charlie divorced twice, in the company of porn stars, taken to the hospital because of drug overuse, and domestic violence. All of this has been on display in the press for several years. Yet he wasn't fired. These incidents are very serious and grounds for termination in many companies, but not CBS or Warner Bros. What did it finally take to finally fire Charlie Sheen, he insulted his bosses.

In companies, like families, there is going to be conflict. To make it worse the TV industry has people with large egos backed up by large check books. This gives people a false sense of importance.

Here are 5 tips I have learned from Charlie Sheen's troubles to make it a little easier to get along with that pain in the @$$ at work. Don't waste energy having a breakdown on account of someone you can't stand. Be ready and proactive in the office environment.

Dealing with Co-Workers Tip #1: Be prepared for Conflict

 If you have people in the organization who are difficult, be prepared for a potential situation. If you don't you may react with anger or some useless childish behavior that will only make the situation worse.

It may help to practice a potential argument in your head to get ready for the situation. Listen to what your saying to see if it comes across as immature or foolish. Also remember to not be wishy-washy, uphold your morals and values. Don't be arrogant but be self-confident. And by all means don't let the person get under your skin, be ready for cheap shots.

Your job is already quite stressful with deadlines and difficult bosses. Not getting along with co-workers makes your job ten times more difficult. You have no choice but to try and get along, or just change jobs.

Dealing with Co-Workers Tip #2: Don't fuel the fire.

If tempted to retaliate, don't. People who cause tension and confrontation also thrive on it. They feel powerful with an exchange of harsh words. Don't get sucked in, you'll only look like the bad guy. Instead react in the opposite way they expect, be nice to them. It drives irrational people crazy. You'll either become friendly with them or drive them away.

Dealing With Difficult Co-Workers Tip #3: Lend a Helping Hand

It may not work in all situations but difficult people may be just a troubled person or someone with poor social skills. They end up making enemies instead of friends because they have money problems or marriage problems at home. This makes them an actual miserable person to be around. They may not be justified in mistreating you, but at least you know why they act the way they do.

Dealing With Difficult Co-Workers Tip#4: Get a Third Party Involved.

No matter how hard you try you may just not be able to get through to the person. This is when you get a neutral party to help. They can listen to both sides and try to find common ground.

Dealing With Difficult Co-Workers Tip#5: Move On

You tried your best and nothing worked. You will reach a point where it's not going to be resolved. If one of you doesn't move on your going to have to suck it up or quit. If this treatment by the person effects your productivity it could he considered grounds for termination. But before all this occurs be careful in examining your own behavior and if your doing the right things. Most of all don't ignore the situation it will only get worse.

We haven't seen the last of Charlie Sheen. He will continue to lash out at his former bosses, sue them, and probably win. CBS will replace Charlie with another actor, but the show will flop and Charlie will feel vindicated. 

Charlie, why not just take the goddesses on a vacation far away and let everything cool down. Especially you.

Would You Move To Another Country If It Meant You Would Prosper?

Image via WikipediaFamed global investor Jim Rogers says if you want to prosper in the 21st Century, move to Asia. You may not know that Jim Rogers has put his money where his mouth is and did move to Singapore in 2007. He is raising his two little girls there and making sure they learn Mandarin. He is very bullish on Asia and says it's the place to be for the 2000's. He says it's not only for the success of his own assets. But for positioning his heirs for success.

He stated:

"In 1807, if you had moved to the U.K., you and your heirs would have been much, much better off for the next 100 years. If in 1907 you had moved to the U.S., you and your heirs would have been much better off for the next 100 years. 

In 1907, if you had stayed in Poland or China, you would not have had a great future, nor your families. Had you moved to America, [your descendants] would have had a much better future. Who knew what they would do, if they would become doctors or what, in the next 100 years. But whatever happens to them, they were better off. They spoke English, which became the world's language. 

My view is that the 21st century is going to be the century of Asia, of China. If I'm right about the future, you are going to have a better life [if you move there], better opportunities, and better everything going where the action is, where the assets are."

In my view, moving to Asia in 2007 means my heirs are going to be much better off in the next 100 years.

A thoughtful explanation of the last 2 centuries of history. But will it happen again in Asia? Jim Rogers is wealthy enough to move wherever he wants. Also he can do business from any part of the world. But Asia is where the action is for the 21st century, he claims.


Think for a minute, would you leave the U.S and move to another country for financial gain? We know millions that have left their country and traveled to the U.S. They did it for a better future for their family. It's the same idea Jim Rogers is talking about. Is he so wrong to do the exact thing?


Could you pick up and leave the U.S. Many already live abroad and are happy doing it. At first it seemed I didn't think I could make the leap. If offered an enticing job abroad, would I go for it? I don't know. What do you think? Would you ever leave the U.S.?

Why Good Credit Still Matters in Retirement

You may think you are sitting pretty with a nice retirement fund and not much time left before punching the clock for the last time. With your home paid for and your other financial affairs seemingly in order, it may seem like the only thing to do is sit back and enjoy the ride.

However, the road to retirement is just not that simple, especially these days and if you happen to have less than desirable credit. Even if you don’t foresee the need to take out a personal loan or finance a new car, it is essential that you stay on top of your finances and ensure you have nothing but the best of credit no matter where you are in life.

Your Credit History is Your Future

Credit scores and personal credit history reports are the hallmark of how you manage your money and your credit. During your working (and younger) years, you may have had a few mistakes that cost you some points on your credit scores. Even if you have managed to maintain your finances, the changes in the credit industry may have also caused your credit score to become lower. There are now new standards to follow in the credit industry and lenders are even more stringent than ever and require a much higher credit score than consumers could get away with in previous years.

These changes matter to you especially if you are planning to seek any type of credit in the future. But they also make a difference if you have no need for financing. These days it is well beyond the scope of good lending practices for having good credit. There are now other entities that lean on a person’s credit score for a variety of reasons.

Who’s Asking for Credit Checks?

As you approach the age of retirement, you likely have been working to pare down your expenses on every level. With a credit score that is less than perfect, you may end up paying way more than you can afford in your budget for a number of things. There are several relevant industries that will use your credit score to make decisions. These sources include:

·         Landlords/Property Managers - If you are planning to downsize and move out of your home in order to rent in a retirement-type community or just to a smaller place, your application may not get approved if you have a bad credit history. Since your ability to handle money is represented in your credit history and calculated score, a low score can signal to these rental agents that you may not be reliable enough to meet rental obligations regardless of how much you have saved for retirement.

·         Insurance Companies – If you own a home and/or drive a vehicle, you will continue to need auto insurance. The insurance agent will often pull a credit check on you in order to give you a premium rate. Those with lower credit scores will have to pay a higher premium rate than others with better scores. Insurance companies, like many other businesses, have made a correlation between people with bad credit histories and the amount of claims they file in a lifetime. Essentially, a bad credit score represents risk to the insurance company. In turn the insurance company will be sure to charge you additional money to cover that risk.

·         Part Time Work – Even in retirement, many people still are content to work part time as a way of earning extra cash or in order to get out of the house on a regular basis. Employers, even those who are hiring for part time positions, often run credit checks on applicants. If you are up against someone who has perfect credit, you may lose out to the other applicant. This is especially true if you are working in any type of financial position or are applying for any type of government job.

As we get older, our financial priorities do get more refined. We know more about what we need to do to become and stay financially stable. It is important to always stay on top of our credit scores even if we don’t think we need financing for any reason. Regardless of how much money you have in your retirement accounts, it is that little three-digit number which can have a huge impact on your life just when things start getting good.

Be sure to keep requesting the free annual copy of your credit report and make sure your information is correct. Be on the look out for fraudulent use of your identity on those reports and dispute any incorrect information as soon as you spot it. If there is erroneous information, look into credit repair. It is your financial obligation to ensure your credit report is as healthy as it can be and regular follow up is highly recommended.

This was a guest post by Ed O'Brien. Ed O’Brien is a seasoned writer with a strong background in business and personal finance. His blog, Credit Repair, offers free advice to those seeking ways to improve their credit scores.