KEN KIRSCHENBAUM, ESQ ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE You can read all of our articles on our website. Having trouble getting our emails? Change your spam controls and whitelist ken@kirschenbaumesq.com ****************************** Financing the alarm deal / Why a Rider for alarm.com November 23, 2022 *********************** Financing the alarm deal *********************** Ken: Jim and I always grateful for the great work you do for our industry. Ken, respectfully reminding we can make buyers out of dealers with little money by bundling seller and buyers RMR thus providing the money to complete the transaction. Perhaps this would assist with the opportunities listed in The Alarm Exchange. Sincerely, Jim Sr james t wooster jtwooster@alarmfunding.com ********************** Response ********************** The Woosters, Jim Sr and Jr, are a wealth of wisdom in the alarm industry as well as, apparently, a wealth of funds available to fund deals. Now Jim Jr is also offering his expertise to perform due diligence on the deals. That makes sense. If he can evaluate a deal and decide if he’s willing to fund it then it makes sense that he can also evaluate a deal and handle the mundane due diligence that accompanies many deals. What Jim means by bundling accounts is that if you're buying $2000 of RMR I believe they will fund up to 26 times, so that's $52,000. But you're paying 34 times, which is $68,000. If you don't want to go out of pocket, and you have your own RMR, you can add that to the collateral to get you the entire $68,000 you need for the purchase. Just remember the 26 times funding you get will require you to pay the RMR equivalent to re-pay the loan for probably 36 or so months to pay back principal and interest. It's not that complicated, but I suggest you engage K&K to represent you on the deal, including the financing end. So thanks for the unsolicited compliment and always happy to assist. ******************** Why a Rider for alarm.com ******************* Ken, Please explain the reason for recommending your Alarm.com rider Wayne ******************** Response ******************** If you are using alarm.com that means you are an alarm.com dealer. Every alarm.com dealer has agreed to the alarm.com terms and conditions of being a dealer. One of those terms is that you agree to get your subscribers to agree to alarm.com terms and conditions. Those terms and conditions are not entirely consistent with the terms in your alarm contract; usually the Residential All in One [though could be the Commercial All in One]. The alarm.com Rider integrates the alarm.com terms into your Residential All in One, making it clear that the alarm.com terms, which the subscriber is agreeing to, is the contract between the subscriber and alarm.com and the Residential All in One is the contract between you and the subscriber. If alarm.com has changed its procedure or requirements let me know. The alarm.comRider, by the way, also specifies which alarm.com products and services are being offered, which might suggest additional services not already contracted for. ******************** To order up to date Standard Form Alarm / Security / Fire and related Agreements click here: www.alarmcontracts.com *************************** To order up to date Standard Form Alarm / Security / Fire and related Agreements click here: www.alarmcontracts.com *************************** CONCIERGE LAWYER SERVICE PROGRAM FOR THE ALARM INDUSTRY - You can check out the program and sign up here: https://www.kirschenbaumesq.com/page/concierge or contact our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304. *********************** ALARM ARTICLES: You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles updated daily ******************** THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily ************************* Wondering how much your alarm company is worth? Click here: https://www.kirschenbaumesq.com/page/what-is-my-alarm-company-worth ****************************** Getting on our Email List / Email Articles archived: Many of you are forwarding these emails to friends or asking that others be added to the list. Sign up for our daily newsletter here: Sign Up. You can read articles and order alarm contracts on our web site www.alarmcontracts.com ************************** Ken Kirschenbaum,Esq Kirschenbaum & Kirschenbaum PC Attorneys at Law 200 Garden City Plaza Garden City, NY 11530 516 747 6700 x 301 ken@kirschenbaumesq.com www.KirschenbaumEsq.com
