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Financing the alarm deal / Why a Rider for
November 23, 2022
Financing the alarm deal
          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.
Jim Sr
james t wooster
          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
          Please explain the reason for recommending your rider
          If you are using that means you are an dealer.  Every dealer has agreed to the terms and conditions of being a dealer.  One of those terms is that you agree to get your subscribers to agree to 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 Rider integrates the terms into your Residential All in One, making it clear that the terms, which the subscriber is agreeing to, is the contract between the subscriber and and the Residential All in One is the contract between you and the subscriber. 
          If has changed its procedure or requirements let me know.
          The Rider, by the way, also specifies which products and services are being offered, which might suggest additional services not already contracted for.

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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301