Archive for May, 2009
13 Lucky Tips On Getting A Commercial Loan
Posted by admin in commercial loan on May 31st, 2009
Beginners look at commercial loans as a means of realising a dream. They long to own their own restaurant, pub or bed-and-breakfast, and look to their friendly local bank manager for help. Cue frustration and disappointment. These days, loans are decided by back-room underwriters, who use cold calculation to decide your credit worthiness. To the seasoned pro, it’s just another day at the office; a handy way of adding to their portfolio. To get the best deal, you need to prepare in advance. Here are a few tips to help you on your way:
1. Have your business plan, forecasts and projections, financial records and statements, history of the property’s income, and the appraisal when you approach lenders. Make sure these are accurate and up to date. This lets the bank know that you mean business. If make them think about your application, they are more likely to deny your loan.
2. Put your own money down. You’ll need at least a deposit and closing costs. Lenders want to share the risk, not own it entirely. They will usually not finance more than 75% of the appraised value of the property. Personal guaranties of the principal owners may be necessary.
3. Get your own appraisal of the property. This will provide you with an unbiased estimate of what the property is really worth. You’ll then know whether it’s worth the financial risk.
4. Apply for your loan as soon as you can. Commercial lenders exaggerate their speed. They’ll quote you forty-five days when it’s more likely to be three months!
5. Never rely on just one commercial lender. Commercial lending is very subjective. Submit your deal to at least four of them.
6. Commercial lenders must order a property appraisal themselves. The bank won’t be allowed by law to accept one ordered by you or a third party.
7. Most commercial lenders now require toxicity reports, to discover any contamination of the site. If a lender forecloses on a contaminated property, the lender inherits the expense of cleaning it up.
8. Lenders near the property generally offer better terms. With those farther away, it’s a case of ‘out of sight, out of mind’.
9. Does your company have a sizable cash flow? You can use the promise of depositing it with the lender to negotiate a better deal.
10. Have a lawyer who specializes in property investment go over everything. You need someone who knows the business and who can be an advocate on your behalf.
11. Be certain that you can afford to keep your business going and still meet your payments. Properties must show sufficient debt-repayment ability. If the property is to be occupied by a sole tenant, the lender will want to appraise that tenant’s finances.
12. Check with your local small business administration for any potential grants or low interest loans you might be able to wangle.
13. Negotiate. You do not have to take the first offer you get. Getting a loan is like buying any other good. People are sometimes too in awe of banks to haggle. There’s no need to be afraid; they can only say no!
Quick House Sale
Deciding What To Sell In Ebay
Posted by admin in retail shop sale on May 31st, 2009
Simply speaking, everything can sell in eBay. It all depends on the balance between demand and supply, i.e. the price strategy. If you are already selling certain products in other places, e.g. your own local shop, you can just do a simple research in eBay and see if eBay is a proper platform for your business.
Let’s say you’re selling computer accessories products. You think you have a very good source of USB drive. Then let’s do a research in eBay and see how the demand is. Take a look at this example: you type in a key word “USB drive 2gb” in eBay search and notice that most people are selling around US$30.
Now you can have a rough idea how much a 2GB USB drive can sell in eBay. Including shipping, it costs around US$30. If you find out that you can make a decent profit from your current supplier, you’re very likely to make a profit in eBay.
Or course, item cost is one thing. You also need to consider the cost you have to pay back to eBay, Paypal and the shipping cost. Don’t expect every item will sell when you post in eBay. So you have to estimate your sales conversion rate. Certain profits from the sold items will be allocated to cover those not sold. I will show you some calculations about all these budget preparation based on the real sales records from an eBay account in some future articles.
How to Find Good Items to Sell in eBay?
One of the most common questions that I heard from people who want to start a business in eBay is: How to find good items to sell in eBay?
I understand the frustration to find a starting point when you know nothing about sourcing at the beginning. When I firstly wanted to start an eBay business, I had this frustration, too. Is it possible for an ordinary person like you and me to sell in eBay? Is it only those big retailers who can invest huge amount and buy in wholesale dominating the who retail market?
Not very long after my first frustration, I found my way. In fact, the answer was just all around. I saw it every day, i.e. the retail shops I bought from every day.
Have you ever thought of approaching those retail shops (mainly those small ones probably operating by 1 or 2 owners. Don’t bother thinking about the big chain stores) and offer a solution to the shop owners that you can bring in revenue for them? It’s not talking about a one-time sale by yourself, but a continous revenue added on their existing business without any additional investment required.
Imagine you’re a shop owner and you’re offered with such a good thing, how can you reject? Of course, there’re always skeptical or narrow-minded people who are not willing to explore new things. But according to my experience, over 80% of people will be interested to discuss further and know more.
But what exactly can you offer to these shop owners and in return helping yourself to start an eBay business? Just spend some time to think it over first. I’m going to unveil more of my strategy in the next article these few days.
Repossession
All About Office Furniture
Posted by admin in office sale on May 31st, 2009
When it comes to office furniture it will either be used for looks and/or for comfort. There are many different varieties of office furniture to contemporary to no contemporary.
If you are looking to decorate you office you may want to shop around a bit before you decide on the style that you are looking for. Office furniture includes desks, sofas, chairs, computer chairs, and whatever else will fit into your comfortable decorated work area. You can find office in many different types of materials such as velvet, leather, cloth or even wood. Wood is usually if you are just going for decoration, or maybe you don’t want customers to fall asleep in your office.
Leather office furniture would be the best for an office because in offices accidents such as spills tend to happen on the furniture, leather is the easiest to clean immediately. But if you have cloth furniture in your office when a spill happens it could take hours in order for it to dry.
Office furniture is always fun to go out and buy if you are into decorating. But you should always have a budget that you are sticking by because if you just go out and spend blindly you could end up over spending. When you are shopping for office furniture you should always be sure to shop around first, if you find a couch that you like in one store, but you are looking for a chair as well, you can buy the couch in that store then find a chair in the second or third store. You don’t have to limit yourself to just one store because there are tons of stores that sell office furniture around. All in all you will have a great time, not just buying the office furniture but when you are sitting in it as well.
Quick Property Sale
Bad Credit Commercial Loans: Gives Wings to Your Dreams
Posted by admin in commercial loan on May 31st, 2009
If you are planning to start a new business and bad credit score is acting as a hurdle then do not worry. As a matter of fact, bad credit commercial loans are especially designed keeping such situation of the borrowers in the mind. The credit record of the borrower plays an important role, when it comes to borrowing of the money. These loans offer financial assistance to the bad credit borrowers who are facing problems such as arrears, defaults, IVA and CCJs. Importantly, this loan is available to the applicants who have filed for bankruptcy.
For the benefits of people with bad credit, the commercial loans are available in two different categories, namely - secured and unsecured. Secured bad credit commercial loans are considered as the best option for availing greater amount at lower interest rate. For enjoying the secured loan’s flexibility, the borrowers are required to place any valuable property which has some considerable amount of equity to the lender as asset. Under this category, the borrowers can avail the loan amount ranging anywhere between £ 50000 to £ 50000000. But, in case of bad credit, the loan amount is depended on repaying capability and financial status of the borrower. The secured commercial loans for bad credit people is not much concern to the lenders, as loan is secured against the property of the borrower. Secured bad credit commercial loans come at feasible rate of interest and for flexible repayment duration ranging from 5 to 30 years.
On other hand, unsecured type of commercial loan can be taken between £5,000-£25,000 for the time period of 5 to 10 years. In comparison to a secured loan, the interest rate is slightly higher with the unsecured loans. With the help of extensive research, one can easily avail the bad credit commercial loan at affordable rate. Apart from search and research, the borrowers must compare the loan quotes offered by different lenders to get a pocket friendly rate. There are many lenders available in the financial online and offline market who are ready to give loan at feasible rates.
Therefore, it can be said that commercial loans for bad credit acts as a relief for the borrowers as in such worse stage, the borrowers are usually denied a loan. Commercial loans give a lot of support to businessmen, as they can meet their business related expenses. Moreover, with regular payment of loan instalment can improve borrowers credit score. So, for upcoming future, borrowers won’t have to face credit problem which arises in the way of loans.
These loans are designed to meet various commercial purposes like setting up a new business, expanding present business, buying of raw material, land or any other business related materials. However, with the help of the bad credit commercial loans, one can easily fulfil his dreams and plans which require greater efforts, intelligence, alertness, and above all finance.
Repossession
Insurance Revealed - What The Lenders Dont Want You To Know
Posted by admin in lease shop on May 29th, 2009
It is true to say that these days you can arrange an insurance policy for almost every eventuality. The most common insurance policies that people take out will include buildings insurance, contents insurance, life assurance and critical illness cover.
Another common insurance policy that many homeowners decide to take out is Mortgage payment protection insurance (MPPI) - this type of policy can cover your mortgage repayments for a period of time in the event of accident, sickness or unemployment.
Buildings Insurance
Every mortgage lender will require you to have a buildings insurance policy in place when taking out a mortgage.
If you own the freehold (the building and the land that it stands on) it is your responsibility to arrange this insurance. If you are a leaseholder then you must make sure that your freeholder has arranged cover on your behalf. It is common for leaseholders to pay out for this policy in there annual management payments to the freeholder.
As long as you have a mortgage on your property then the lender will have an invested interest in it too. The lender will therefore be very keen to make sure that you have your property covered in the event of fire, subsidence or heavy storms.
You may decide to arrange cover independently or through your mortgage lender, either way you may have to provide evidence that you have a sufficient policy in place. Most lenders will not insist that you take out contents cover for your home although this is usually highly recommended.
Contents Insurance
It is very common to arrange a combined buildings and contents insurance policy - most providers will offer to set out a policy in this way. If you ever need to make a claim, you will receive the cost of the replacements for damaged goods from your insurance company - often with an excess although this is agreed before you take the policy out.
An assessment of your possessions must be carried out before applying for contents cover to make sure that you are not underinsured or over insured. Some contents insurance policies will offer new-for-old cover whereas others may offer simply cash - decide which one best suits you before applying.
Most people will prefer a new-for-old policy as this will ensure that they receive an exact replacement or even an updated version of the goods lost. In this way you will not have the hassle of shopping around in order to purchase a replacement.
There are certain factors that can reduce a contents insurance premium such as having a burglar alarm in place, having smoke alarms installed and even living in a neighbourhood watch area. There is a wealth of contents insurance providers around, from traditional insurers to banks and supermarkets - always shop around for the best cover.
Mortgage Payment Protection Insurance (MPPI)
Mortgage payment protection insurance can provide cover for your monthly mortgage repayments in the event of accident, sickness or unemployment. MPPI encompasses a combination of insurances however it is possible to arrange solely one type of cover. For example, you may simply wish to take out unemployment cover if you are already covered through work for accident and sickness. .
While about 60 percent of new mortgage borrowers take out MPPI, only one-third of all borrowers have this insurance - this may be due on the main part to the price of the policy itself. As with all other insurance policies, it pays to shop around. There are even some mortgage deals that will have free MPPI included however this will only usually cover you for six months to a year.
Again, with all insurance polices it is important to make regular reviews or your cover in order to make sure that you are not underinsured or that your policy has not expired. Whenever you increase the size of your mortgage by way of a remortgage, you will also need to increase the level of the MPPI to reflect it.
Quick House Sale
New Tax Legislation Could Save Dentists $$thousands$$ in 2008
Posted by admin in lease shop on May 29th, 2009
thought about upgrading your equipment to the newest industry standards but were afraid of the cost? Or perhaps you want to improve your office to make it more comfortable for your patients? Do you need to upgrade your reception area to make it more efficient for your administrative staff or look nicer for your patients?
If you have been thinking about any of these improvements for your practice, consider that if you do it in 2008, the Government will help pay for them. That’s right, Uncle Sam is ready to pay for a significant part of your cost of improvements, but only if you make your purchases and do your improvements in 2008. How? The good old American way - through major tax deductions.
In February 2008, President Bush signed into law the Economic Stimulus Law of 2008. Most people think of this as the bill that gave millions of Americans a tax rebate check of $600-$1,200. You may not have been eligible for this benefit because your income was too high, but other parts of this legislation could be worth far more to a dentist than a small rebate check.
There are two parts of this legislation that could be particularly lucrative to you in 2008. First, there is the change to the Section 179 rules. Most of you know that if you buy new equipment then you can elect to deduct the full cost of this equipment up to certain limits. What you may not know is that these limits were increased substantially for equipment purchased and placed into service in 2008.
There are two limits that increased as part of the 2008 Tax Act. The first is the total amount of equipment that can be deducted in a single year. The rule is $125,000 for years before and after 2008. But, for 2008 only, the limit has been increased to $250,000.
And the deduction is not limited to equipment. It also applies to computer software and to certain leasehold improvements.
The second limit that was increased is the maximum amount of equipment you can buy and still get the Section 179 deduction at all. Before and after 2008, you only get the deduction if you buy less than $400,000 of equipment during the year. For 2008, this has been doubled to $800,000. What does this mean to you? If you are setting up a new office or multiple offices, you may have been disallowed ANY Section 179 deduction if you purchased more than $400,000 of equipment. With this limit doubled, most dentists will be able to deduct all of the equipment they buy in 2008 up to the increased $250,000 limit.
In addition to the changes to the Section 179 deduction, there is more good news for those of you expanding or renovating your offices. As you may know, Section 179 only applies to tangible personal property (i.e., equipment and furnishings). So what about all of those improvements to the office itself? Any benefit there? Absolutely!!!
The 2008 Tax Act allows a bonus deduction for depreciation on certain property equal to 50% of the cost. And you still get to depreciate the other 50% of the cost of the property over the normal depreciation period. Let me give you an example.
Suppose you decide to renovate your office in 2008. You buy new equipment for $150,000, new furniture for $30,000 and make leasehold improvements to the office of $40,000. If you get this all done in 2008, your current tax deduction will be in excess of $200,000. If you wait until 2009, you will only get a deduction in 2009 of about $138,000. The different of $62,000 would have to be depreciated over future years.
One more benefit from this new law should not be overlooked, and that’s the additional depreciation you can take on business vehicles placed in service in 2008. Because of the “luxury auto” limitations, depreciation deductions for automobiles are severely limited. But in 2008, the limits are increased by $3,600. Nothing like the increases in Section 179 or bonus depreciation, but still a nice additional benefit for 2008.
Now for the really important part of this story. What should you do? Should you spend the money? ONLY IF IT MAKES SENSE FOR YOUR BUSINESS!!! I never recommend spending money just for a tax benefit. After all, the maximum tax rate is on 35% and even with a state rate of as much as 11%, you still lose money if all you are getting is a tax deduction.
On the other hand, if you are planning to make improvements to your office and/or equipment in the next year or two, it might make sense to do it in 2008 so the Government can underwrite a substantial portion (35-50%) of the cost.
I strongly recommend you meet with your tax advisor before undertaking any tax planning. I especially recommend to our dentist clients that they work with their tax advisor to formulate a COMPREHENSIVE, LONG-TERM TAX STRATEGY.
Sell and Rent Back
Need Office Chairs! Turn to the Internet
Posted by admin in office sale on May 28th, 2009
Chairs in an office must be chosen judiciously. The employees are to sit on them for the long hours they remain in the office. So, first priority should be given to the choice of the employees. Then importance should be given to the design and look of the chairs. One more thing to be taken care of is the demand of various rooms. All the office chairs should not be same; different room needs different types of chairs.
The chairs meant for the employees should be different from the chairs to be kept in the conference. In the same way, the reception area needs a unique type of chairs. It may appear to anybody that buying office chairs will be difficult as only one type of chair will not be sufficient. However, it will be quite easy and even fun if one knows how and from where to buy chairs for office.
The Internet is the obviously the best place. Almost all the manufacturers of office furniture and their dealers have website through which they sell chairs and other things. All the products of various companies are displayed along with their specifications. One can log on to these sites and check out the products. Since there will be a whole lot of variety in each type of product, it will not be difficult to find out suitable office chairs.
Like any other furniture, one can shop for office desks via the Internet. Whether the wooden or the glass desks is ones choice, he will have unlimited options in the online shops, just like the office chairs. Nowadays, glass desks are more in fashion than the wooden ones. This kind of desks is transparent and gives the place a roomy look. These are also easy to maintain. Though not recommendable for the work place, they will be perfect choice for reception and conference room.
Real Estate Professionals
Two Main Things to Consider Before Starting Your Own Quilt Shop
Starting your own quilt shop is a lucrative business. Not only that, you have the chance to turn your passion into a part time income or even a full time business! So, before venturing into quilting business, you need to consider the following factors:
Start Up Capital
It is crucial that you have sufficient seed capital for your own quilt shop business. You are required to have start up costs to purchase a lot of fabric and supplies. Besides, cost of rent and insurance is another items that you will need to consider. If you are in an area where the rent is extremely high, then you might want to consider having an online quilt store rather than a physical shop in particular if you do not have a big capital.
If getting loan from the bank as your starting capital is one of the options, then you need to know how to prepare a financing plan in order to win bank’s approval for your application.
Marketing Study
You must find out whether your area will support your quilt shop prices. It would not be feasible to sell your quilt at say, $10 per yard if your area is willing to pay $5 per yard. In this instance, it may take you quite a while for your customer to accept your prices and therefore your pay back period will be longer.
Other than the above, doing your own market study will help carving out your marketing strategy and assist you in identifying your market segment. This is important as targeting the correct segment is key to successfully running your own quilt shop.
In a nutshell, if you plan to start your own quilt shop, make sure you have done your initial budget calculation and conducted a thorough market study of your quilt business.
Sell and Rent Back
The Development of Business of Exchange Offices of Internet Currencies in Russia
Posted by admin in office sale on May 28th, 2009
The first payment system in the Russian part of Internet is WebMoney. Since the beginning of work in Russia in November, 1998, the turn of the WebMoney system (hereinafter referred to as WM) has been growing, and, most probably, will continue to grow with the speed reaching 100 % a year (the statistics doesn’t say about the period before 2001). For more than 7 years of work, the system turned from an unknown group of enthusiasts into a popular tool for Internet money transfers. Even those people who for the first time face the necessity to use electronic means to transfer money, have heard about WM.
Further consideration of business of exchange offices of Internet of currencies is tightly linked to the WM system. The WM system is a ‘landmark’ Internet currency, which (in particular, the commissions) all competitors in Russia are guided by and by example of which it is possible to consider the development of Russian payment systems.
It is necessary to note that Internet currencies (which are called payment systems, as well) began to appear in the USA approximately 10 years ago (the E-Gold system appeared in 1996). Within the course of their development, they began to take more and more means from the turnover of then dominating kind of payments via credit cards through the Internet. When it became clear that the business of creation of own electronic currency was profitable, more and more various Internet currencies started to appear and spawn; nowadays there are hundreds of them in the USA.
In the author’s opinion, the development of the Russian Internet currencies market lags behind the USA market for 3-5 years, though even now in Russia it is possible to easily find at least 15-20 various kinds of Internet currencies (not speaking about game money of online games, which are also bought and sold). The development of the WM system of payments generated a lot of small businesses, which are not connected with the system. One of the first to try to make money on WM were so-called autoexchangers, where users were offered to exchange one kind of electronic currency for another online (another kind of Internet currency which was used at that time was E-Gold; PayPal also existed, but autoexchangers did not work with it). These companies were not distinguished by reliability, and it was regularly heard that ‘this or that autoexchanger had been split open’ (now autoexchangers are much more reliable). Till 2001 it was possible to exchange WM for cash or buy WM only in the official exchange office of WebMoney, located in Sadovnicheskaya street in the center of Moscow. 2001 was watershed; WM went out from Sadovnicheskaya street and began its expansion to all directions of the world. First private exchange offices started to appear; they offered not only to exchange WebMoney and E-Gold, but also to receive money transfers, then just starting to gain popularity. We shall not enlarge upon the point who was the pioneer in the business of exchange offices of Internet currencies, since it is a questionable matter and there is no common opinion. We shall note only that the business started in the capital of the country, in Moscow, and later in St. Petersburg. Alongside with the growth of the turnover of the WM system there was a gradual decrease in commissions of private exchange offices of Internet currencies. In Moscow, first of all, because of low commission fee of the WM official exchange office (1,5 % for withdrawal and 1 % placing, the same as now), private exchange offices never took commission more than 3 %, and even that very quickly lowered to the rate of 2 % for withdrawal. That rate remained until 2004, when exchange offices of Internet currencies began to experiment its reduction.
Now to set the commission of WM at the rate of 1,5 % is not a problem (we offer 1 %). The same tendency is, in general, observed for other kinds of electronic currencies, for example, E-Gold, where the cost of withdrawal decreased from 10 % in 2001-2002 to 4-5 % (to tell the truth, recently, due to failed stability of the system, it reached 20 %). The cost of reception of Western Union money transfers is also steadily decreasing.
As for St. Petersburg, a 3 % and more commission for withdrawal is still considered normal. This is due to either long distance from the official exchange office, or risks, which are 1,5-2 times higher, or this is just conspiracy of exchange offices (by hearsay, the last variant is the closest to the truth).
If to move away from the capital, along with the decrease of competition there is the increase of commission, both for placing and withdrawing money via WM, amounting first to 4-5 %, and then to 10 % in small cities. Approximately in the same proportion the commissions for other electronic currencies increase.
Last year, due to development of the WM system, the opportunity appeared to purchase WM at post offices, offices for the top-up of WM-purses with cash, which should lead to a significant decrease in the commission for placing money via WM in the remote cities in the near future. WM is very popular outside Russia as well, including Ukraine and other CIS countries
At the beginning of the article, the annual growth of more than 100 % of the WM system’s turnover was mentioned. Therefore, it is easy to guess that there was a similar growth of the turnover of exchange offices. Once 3-5 thousand USD was enough for opening of a successful exchange office, moreover, due to the small quantity of exchange offices of Internet currencies, it was not difficult to inform potential clients about a new office. However, as in the case of the systems of Internet currencies, at a certain moment it became clear that the business was profitable, and a lot of new exchange offices entered the market.
There are more than a hundred official offices nowadays (and 10 times more small and unofficial ones). The necessary initial capital (it can be estimated as 10-15 thousand USD) also increased. Nevertheless, even today it is possible to recover value in a year.
Summarizing the written above, it is possible to say, that operating an exchange office is a very favorable investment, requires a comparatively small amount of initial investments, and has a short pay-back period.
However, this business has a lot of underlying potential problems and requires a sound management experience. To be singled out from among many competitors, it is necessary to differ from them, at least by the amount of commissions for operations. Any operation involves some costs, but they decrease along with the increase of turnover. This is the main idea of the development of the TrainEx business. At present the opportunity to attract investments into TainEx is being worked out.
Certainly, it should be more economically advantageous than investment into bank deposits.
Sell and Rent Back
Savvy Commercial Loans and Commercial Loan Lenders
Posted by admin in commercial loan on May 27th, 2009
l Loans Are Disappearing Rapidly. Keeping Savvy with commercial loan lenders in this market place.
Even Small and Regional Commercial Banks Have Cut Back Sharply on Commercial Loans Lending
In these times its important to get your fingers on the pulse of the commercial real estate lending market. The CMBS lenders started to die late last year and now they are not lending at all.
Most of the mega commercial bank lenders got crushed in the subprime residential lending debacle. Their balance sheets are so underwater that they are making at most 2% of their 2007 volume of commercial loans. Essentially the mega-banks are out of the commercial loans lending market.
Until very recently, however, the smaller banks were still making some commercial loans. We were greatly disturbed last week, however, when several smaller commercial banks - lenders with no exposure to the subprime crisis - contacted us and confided that their balance sheets were so troubled that they too had stopped making any commercial loans.
We are pretty sure that this is a trend that will continue among the surviving small and regional commercial banks. As their commercial loans to local industrial companies start to go bad (sales of widgets and other industrial products are cratering), soon most commercial banks will stop making commercial loans completely - even permanent loans on standing commercial properties.
Many people are thinking that this is the last call for commercial loans from banks. If you don\’t close your loans in the next 90 to 120 days, you may have to wait five to ten years before commercial loans with decent interest rates reappear.
There is some truth in the idea that even the small bank commercial lending is going to dry up, although there will still be a handful of very savvy commercial loan lenders who can broker deals even in times of severe financial crisis. The key to success the current commercial loan climate will be finding the elite few lenders who are capable, and relying on them to broker your loans.
Reliant C Loans is the leader in savvy commercial loan lenders. Contact 1 888 972 1948 for FREE consultation on your commercial loan!
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