WASHINGTON, June 21--The Environmental Protection Agency (EPA) decision to delay enforcement of the
new Lead: Renovation, Repair and Painting rule will provide much-needed time to get more remodelers and
other contractors trained – and for EPA to get the word out to consumers about the importance of hiring a
certified remodeler, according to the National Association of Home Builders (NAHB).
“EPA listened to our concerns and did the right thing,� said NAHB Chairman Bob Jones, a builder and
developer in Bloomfield Hills, Mich.
In revised guidance released on Friday, EPA acknowledged that remodelers in many parts of the country have
been unable to obtain the required training to comply with the rule – a problem that NAHB has urged the
agency to solve since the rule was announced two years ago.
The issue came to a head in May after floods devastated parts of Tennessee and there weren’t enough certified
remodelers to complete much-needed home repairs. NAHB and its state home builders association proposed a
delay in enforcing the rule -- a decision EPA consented to in its letter on Friday.
While remodelers, electricians, heating and air conditioning technicians and other contractors must adhere to
lead-safe work practices, including special equipment filters and a ban on open flames, EPA will not take
enforcement action against firms that have been unable to obtain certification until Oct. 1 of this year.
Individual contractors must apply to enroll in a training class by Sept. 30 and complete the training by Dec. 31,
2010.
“This rule potentially affects about 79 million homeowners. That’s how many homes were built before 1978,
when lead paint was banned,� Jones said. “We need significantly more contractors certified than the 300,000
who have taken the training course, and we also need to make sure that affected homeowners understand the
importance of hiring a certified contractor.�

Homeowners can find a certified firm at http://cfpub.epa.gov/flpp/searchrrp_firm.htm . Remodelers can search
for an EPA-approved training provider at http://cfpub.epa.gov/flpp/searchrrp_training.htm   

July 21, 2008 by Wendy Patton

Focusing on making money does not mean that real estate investors won't have a need for competent and experienced real estate agents, actually we who are involved in real estate investing really need investment friendly agents. Contributing author Wendy Patton presents an article about using an often over looked real estate investment technique of lease options.

Getting Realtors Begging You To Buy Their Listings

Many investors think that real estate agents don't have the best deals, or they have all been picked over by the time they actually hit the market. I believe that some of the sweetest deals are sitting on the market. We automatically think that REALTORS, or their clients, will snatch up the best deals before they hit the market.

It is true that some of the best deals do get snatched up before they hit the market, but-there are many other deals left behind that no one sees. The reason that no one sees them is because they are looking for traditional' or what I call "retail" homes, not "lease option" homes. These are two very different markets. The retail market is what 90+% of the people and investors understand. The Lease Option market takes up a portion of the remaining 10% of the market.

I look to work with REALTORS that understand the concept of lease options and can help their sellers understand lease options. This understanding can take time. Your job is to assist REALTORS to understand lease options. I do this by using several techniques.

First, I have a letter that I send to a listing agent explaining the concept, second, I have a presentation that I do for my local real estate offices, and third I network and continually tell REALTORS what I do. I hear investors tell me all the time that REALTORS just don't understand or want to understand what they do. I can only say that patience and persistence pays off. REALTORS aren't trained in unique selling techniques; they are trained in the "Retail Market"' which is 90+% of what is out there. As investors, it is our job to continue to help those around us understand what we do so they know when to call us.

The type of home I am looking for through a REALTOR is one that the seller:

either doesn't need their equity out; or

doesn't have any equity in their home

I prefer the first one as they are a safer seller for me and they usually have a lower mortgage payment, if at all.

When a REALTOR hears a seller say, "If my home doesn't sell soon I might have to RENT it!," then the Realtor should think of you. (assuming you have continued to remind them of what you do) All you need is 2-4 good listing REALTORS. Listing REALTORS work directly with the sellers and know which sellers are in trouble, which ones can rent, and which homes are vacant. Once a REALTOR knows what you do and has a seller that can accept your terms-wow! You are the proud new owner of a lease option.

One of the most important things for anyone is that they get paid for what they do. REALTORS are just like everyone else in this regard. When I am taking on an option, I am asking the seller to wait 2-3 years to get cashed out. I don't want to make the REALTOR wait that long. If I do, they won't even tell the seller about what I can offer. Why should they? It might not do them any good. They are doing all the work now to get the deal done and want to get paid for it. So I give them the listing agent portion of the commission up front in a seller's market.

This is my option fee and is applied to the purchase price when I get my mortgage or when I sell the home. The agent is therefore paid on what they do just as if they sold the home conventionally to another buyer. When you sell the home you will be asking for 3-5% down from your tenant/buyer (in a seller's market), therefore, you are still minimal or zero down/out-of-pocket. If you aren't a licensed agent/broker and entitled to ½ of the commission, then let the "REALTOR Double-Dip." They can get the listing agent portion down upfront from you and the selling agent portion when the home closes in 2-3 years. They will wait for the second half of the first half is paid up front. The second half would just be a bonus that most agents wouldn't expect anyway.

*** NOTE ***: If you are in a buyer's market (as is most of the Country right now) use 1% down for the agent to start the option. The tenant buyers in a buyer's market will only have 1-2% down as well. Therefore, in either market, a buyers or sellers, the amount you are giving to the Realtor will align with what you are receiving from the tenant buyer. In either market, however, the amount you are giving to the REALTOR will be credited off of your purchase price when you close on the property.

When you start to work with REALTORS and they start to bring you their listings you will have more deals than you will know what to do with.

About the Author:

Wendy Patton is widely recognized as one of the most inspiring speakers on "Little or No Money Down" real estate investing. Her real estate savvy, great depth of experience and viable knowledge has helped her in orchestrating the most complete and easy to follow Lease Option & Subject To Program in the country.