Buying Puppies for Sale Online

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

There are different ways to find a new pet. You can adopt, buy at a local pet shop or at an online site. For those who don’t have the time to visit a dog kennel, a pet shop or an agency, you can find puppies for sale online. There are different online sites in the web that offers pets for sale. Why buy puppies online?

The advantage of buying online is that you have more options to choose from. Another advantage of buying online is that it prevents you from wasting a great deal of your time travelling from one shop to another in order to find a better option. In a way, it will also help you save plenty of money from transportation or gas. However, many wonder if buying pets online is safe? How sure you are that they will deliver? What is your assurance?

Well, maybe you don’t have an assurance. It will all depend on how well you choose an online pet shop and how you handle the purchase. As mentioned, there are plenty of pet shops in the internet but not all of them are trustworthy. If you’re not careful, you may end up with a sick puppy. Then how to buy a puppy online?

Here are the tips on how to buy a pet through the internet:

1. Purchase a pet from a reputable website.

2. Do not buy a puppy without seeing the picture to confirm its breed and to know if he is in good health.

3. Make sure to see all the documentation or papers concerning the sale of the puppy.

4. Once you see the papers, verify all the information such as date of registration, visits to the veterinarian and other information.

5. Make sure to verify the seller of the puppy.

6. Ask for a phone number and make sure the seller has no issue about speaking to you on the phone.

7. Verify the address of the person or shop selling the puppies. Make sure that telephone numbers and addresses are indeed their address.

8. Contact their previous customer and ask about their experience on buying puppies on this particular seller.

9. Search for reviews or complaints by previous customers to this seller.

10. Work out a shipping arrangement to the seller. Settle how you are going to receive the puppy or how will you pay for the transportation of the pet.

These are the tips on how to buy puppies for sale through online sites. Take note that the safest way is to purchase from a reputable site and to check the information given by the seller. One of the most reputable online pet shops is http://www.doggish.com.au/.

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Source by Paul J Easton

Making the Transition From an Apartment to Your First Home

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

Between myself and my real estate team, we have worked with several first time home buyers we have had several times where a first time homebuyer was moving from an apartment complex and into their first home.

We found that this transition in real terms is not that big of a deal, however it is the sentimental, emotional, and financial part of the transition that can have the biggest effect on a first time homebuyer. In other words, first time homebuyers that have been renting in the years leading up to the purchase of their first home have, on average, moved a half dozen times before the move into their first new home. The average age of a homebuyer is 32, and i can remember making at least 5 times before planting down in my first place. Point being, its not the actual move that causes the fear or the challenge in the moving transition; we have found that its all inside the buyer’s head.

With that said, the biggest change for a first time homebuyer will be the emotional and financial changes that occur through the process of buying one’s first home. Most notably, in most cases, a buyer’s monthly payment will go up compared to the rent that they were paying. Also, renters are used to calling the landlord when something breaks in the place that they are renting. For a first time homebuyer, something we do with our initial consultation is set expectations and try to ease the „sticker shock“ for a first time homebuyer. We do this by encouraging the buyer to „pretend“ to make his or her would-be payments so that they can get a feel for it and not get all stressed out the first month they move in. I’ve found that this fear of a higher monthly payment is all inside your head. Many buyers initially fear the higher payment, and sometimes it is a deterrent from buying a home in the first place, but I’ve found that all buyers get used to their new payment and make it a part of their lives and adapt and adjust their finances accordingly. A buyer gets qualified for a home loan, so the bank is taking a statistical bet that the buyer will be able to handle the payments, and i tend to agree with them on this as well.

However, a buyer can get over this financial concern by making the „pretend“ payment; for example, if rent is $1500 a month, but the new mortgage is going to be around $2200 a month, then make the rental payment, and throw $700 into a savings account every month leading up to your home purchase. For some buyers who are buying a short sale, this may entail more than a few months of saving, which is even better and directly addresses the second most common concern about the home-purchase transition for a new buyer which is maintaining and taking care of the home they just bought.

By saving each month with your pretend home payment, you are building a reserve for the rainy-day (or Maintenance fund) for your new home. Any good realtor professional will (or should have) a great list of referrals for all types of service providers and tradespeople, and we let our clients know this so that no matter what could happen, we have them covered with a good, reliable professional that can assist. Furthermore, if and when something may occur, or if our buyers are just looking to upgrade the home in a necessary or desired manner, they have the funds to do so rather than dipping into credit cards and getting further into debt, which we recommend staying away from at all costs.

The pretend mortgage payment is one great strategy that if implemented correctly, reduces stress, fear and concern in the mind of a first time homebuyer and allows them to focus on the task at hand and make the homebuying process a fun one.

Lastly, its interesting to note that nearly every new buyer that comes into the office, when we ask them why they are looking to buy their first place, one common thread that they all have is to quit paying someone else’s mortgage because they are sick of paying rent – this is the motivation enough to know that by purchasing a home they are staking a claim into their financial future and making their future that much more secure which is the emotional push that they draw upon whenever the buying process gets challenging, or when fears or concerns begin to mount. We always remind our clients why they came to us in the first place and that helps them get through the finish line and on with the enjoyment of their new home.

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Source by Michael Justin Wolf

How to Sell Candy at School

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

During my freshman year in high school there used to be one candyman who everybody went to when they wanted candy. He was so good at his job that people literally started calling him „Candyman“, inside and outside of school. Kids began to realize that selling candy was a really lucrative business—at least for a kid in high school. By my sophomore year there were a few more „candymen“ on the scene. This was quite convenient in that you didn’t have to report to THE Candyman every time you wanted candy. Now I’m in my junior year of high school and everybody’s a candyman. Now it’s virtually impossible for candy to be inaccessible on the 5-acre campus. I’ve been a candyman for 10 months now, and I’m going to share some tips with you that I had to learn by experience.

1. Buy your candy in bulk variety packs at Costco or Walmart. This will save you money.

2. Start off bringing about 25 candies every day. How much you bring depends on many factors, like your school size. There are nearly 3000 kids at my school and I’ve been able to sell over 50 candies a day.

3. Try to make regular customers. Find people who will buy your candy every day. Don’t be afraid to ask!!! „Hey, you want some candy?“

4. Abide by the Candyman Commandments below…

The Candyman Commandments

1) Thou shall not consume thy product.

Don’t eat your candy! You will never save any money that way.

2) Thou shall be unique.

There are all kinds of ways to be unique. For example: One of the candymen at my school turned his backpack into a portable refrigerator by neatly stuffing it with bags of ice. This kept the chocolate from melting. Guess whose chocolate everyone bought….his. Uniqueness and originality go a long way; that’s what brings in the cash.

3) Thou shall not overcharge.

Stick to the „everything is $1 rule“. (of course little things like lolipops are exceptions). Overcharging will not get you more money…It will get you no customers.

4) Thou shall not undercut.

Being a candyman is not about price competition. People WILL buy your candy as long as you don’t break Commandment #3. People will buy candy from you even if they’re not hungry–it’s human nature to just want candy when you see it. Don’t try to sell your candy at a discount and think that you will get more customers. From experience I know that you will not get more customers this way. This will just just lower your profits.

5) Thou shall be in possession of the following items during business hours:

* one-dollar bills. Always keep a stack of $1 bills so that you always have change and never have to let a customer down.

* Skittles, M&Ms, Snickers, Kit Kats, 3 Musketeers, Resse’s, Starbursts. These are the basics, the must-have candies. Uniqueness comes into play here. Try to sell a rare, high-demand candy like Shockers (formerly known as Shock Tarts). Don’t just sell the Original Skittles; sell the Tropical flavored ones too.

Now for the big question….How much money will I make? It depends. I personally made around $15 profit a day. You can make more. You can make less. Follow this guide and try to develop your own pattern.

Selling candy is like a passive income—you don’t really have to work; you just have to be smart and consistent.

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Source by Michael Z Adams

How To Write A Repair Request – It’s In The Details

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

Disclaimer: While your Realtor may draft a repair request for you, or you may do it yourself, I strongly recommend seeking competent guidance from an attorney who specializes in real estate matters. Real estate agents cannot give legal advice unless specifically qualified to do so.

One of the major components of any quality real estate sales and purchase contract is the inspection contingencies. Once you have agreed to the basic terms and conditions with a seller, you should have allowed yourself a reasonable time period to fully inspect the property using any resource you see fit. It is very typical to find numerous items that may need attention during this period and you must decide what should be repaired and what you can deal with later.

The sales and purchase contract should have detailed instructions on how to handle any requests for repairs, and you should review these instructions with your Realtor before drafting a repair request. Failing to follow these instructions can be just a bad as failing to adequately express your expectations. Make sure you understand what you must do and what your recourse could be or you may end up purchasing a property with significant defects.

Let’s develop a scenario to use as an example of the many possible solutions to finding problems and getting them satisfactorily resolved. One situation I recently observed a friend go through with the sale of her home was the repair of a ceiling with water damage from a previous water leak. The buyers noticed the stain on the ceiling and the seller had disclosed the fact the roof had leaked and was repaired. The seller had sufficient documentation to prove this fact and provided it to the buyers.

The buyers took issue with the condition of the ceiling during the inspection phase and make a request to have the ceiling repaired. The exact wording of the repair request was „seller to repair ceiling in the living room“. This request was properly presented to the seller according to the contract and was agreed upon by both parties. At this point, all parties involved were content with the the status of the transaction.

Obviously, for this to be a good example for our discussion, something has to go wrong, right? Well, something did go wrong, and it led to some very heated arguments and accusations. The buyers‘ intentions with the repair request was to have the ceiling opened up, inspected for further water damage and mold, and then repaired and painted to match the surrounding ceiling. The seller’s intention was to replace the affected area on the ceiling with new drywall and mud, but not repaint or inspect for other damage.

Now, re-read the exact wording of the repair request. Who has the correct interpretation of the intent of the request? The seller or the buyer? In my opinion, both viewed the extremely vague wording of the request to their advantage and failed to recognize the other party’s intentions. Both could be correct, but since money and time are involved, neither side wished to give in to the other.

The seller did exactly as I stated and had the stain removed from the ceiling and did not repaint. When the buyers came through the house on their 24 hour prior to close walk-through, they saw the ceiling and immediately protested. This led to an escalating argument that culminated with a war at the closing table over the meaning of the repair request. It was ultimately determined that the seller had complied with the letter of the request and the buyers were left with no further recourse.

What can we learn from this specific transaction? I hope the first and most important thing you learn is to write extremely detailed, well though-out repair requests. My personal suggestion in this case would be to have written… „Seller to repair stain on the ceiling in the living room. Seller to have repair made by a reputable company with a successful history in this sort of repair. Seller to have the ceiling inspected for further damage caused by the previous roof leak and to inform the buyer immediately if any water damage or mold is present. Buyer shall have the right to make further requests for repairs should other damage be found. Seller to have repair completely and accurately documented and shall transfer any warranties that accompany the repair. Seller shall repaint the ceiling to match the surrounding ceiling.“

I don’t claim to have the perfect request for repairs in this situation, but I think both parties would have had a much better understanding of the intentions of the buyers and it is possible to have alleviated some of the contention at closing if wording more similar to this had been used. When you need to make a request for repairs in a real estate transaction, make sure you have considered all of the details and it is very explicitly and clearly written on paper. I would even consider consulting with a home inspector and attorney to help with the language.

I hope you find this information helpful and will be very careful when making requests for repairs in your next real estate transaction…

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Source by Joe A. Hayden

How to Sell Your Writing Skills and Make Money

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

Experienced freelance writers make money by ghost-writing scores of articles for clients across the world. the following useful article writing and selling tips will help budding writers find a firm foothold in the world of content writing. You can plan and prepare your writing career and prevent a ‚trial and error‘ approach.

The important fact to bear in mind is that in order to be able to sell your writing services, you must be able to first follow certain basic rules of online writing.

Article Writing Tips

1. Writing formats: Get familiar with different writing assignments that you could be asked to complete. For example, writers could be asked to work on grant submissions (requesting funds for upcoming projects, usually related to NGO and charitable organizations), press releases (information regarding the release of a new product or service), website content (landing page, ‚about us‘ page and so on) or e-books.

The formats of each form of writing is different. There is plenty of information available on the Internet; invest time reading about different types of writing.

2. Choice of English style: Articles are generally written in American, UK or Australian English. Please understand that these are all different variants of the English language. Clients may request that articles be written for a local or international audience. There will be subtle differences in spelling as well as language.

For example, ’neighbor‘ is American English while ’neighbour‘ is British English. Similarly, the Americans say ‚counselor‘ while other countries spell the same word as ‚counsellor‘.

If you are not sure, ask your client for further clarification. Correct spelling is a crucial factor in getting good work assignments. One incorrectly spelled word can ruin the impression.

3. Research: Researching abilities are another vital contributing factor in crafting a top-notch article. As a budding freelance writer, you may be required to write articles on various genres and subjects. These could include finance, banking, gardening, cooking, health, business, home decor, parenting among several others.

Obviously, we cannot be experts on every subject under the sun. Hence, intensive research will help you find out salient facts and useful information.

For example, if you are asked to write an article about savings accounts in the UK, sit down and read through four or five credible websites for information. If you read about ‚CD ladders‘ (bank deposits), look for more information about CD ladders and how they work.

Your article should be able to provide solid, useful and well-researched information to readers. Your aim is to put together information from various sources so that the reader has access to all the information in one place.

A word regarding choice of websites: Please bear in mind that there are excellent websites and several mediocre and unreliable ones at the same time. Avoid gathering information from ‚forums‘ etc. Stick to government, educational or reputed websites. This way you can be sure of providing your clients with updated and factual information.

4. Work count and keyword insertion: Keywords are important words and phrases that help an article or website attract traffic. They are based on the factb that all readers begin a search with a word or phrase.

For example, readers looking to travel to Paris may type in ‚Paris holiday‘ in the browser to begin seraching for good Paris holiday deals. Clients may often request the use of certain keywords in order to help their website gain visibility.

For instance, a client may ask you to write an article of 500 words and use a specific keyword say, three times in the article. You must be able to weave the keyword skilfully into the article without making it appear contrived. Avoid simply ’stuffing‘ it in. Use the keyword in a way that sounds sensible and logical.

Ideally, keywords should be used in the title, first line and last line (however, this is not a hard and fast rule). Pay attention to required keywords and keyword count.

Please do not ‚fill‘ in the article with useless, shallow information. In the world of freelance writing, this is referred to as ‚fluff“. As the name suggests, ‚fluff‘ refers to useless, irrelevant information that is merely written to complete the required word count.

Here is an example to illustrate the point:

a. Everybody needs a bank account to manage their money. Banks offer customers several options for saving their money. Services and quality varies across banks.

b. Opening a bank account is an excellent way to manage your money. banks offer several options including deposits, saving schemes and investment portfolios to help you build a consolidated fund pool.

Option (b) is more informative sentence compared to (a). Avoid scrimping on research. Shallow and inadequate research is tantamount to producing ‚fluffy‘ content.

5. Plagiarism issues: While crafting content for clients, please do not copy-paste information. All information on the Internet is copyrighted and copying is illegal. Read up information and then write it in your own words. That’s exactly what you are getting paid for.

Images, diagrams and photographs are also associated with strict copyright. Please ensure that you use legitimate, copyright-free images that you are allowed to use.

Taking unscrupulous short cuts is likely to lead to a bad name and poor reputation. You can also consider buying credits from ‚Copyscape‘; a website that helps you check your work for plagiarism.

6. Deadlines: Deadlines are sacrosanct and writers must respect them implicitly. Examine the amount of work that you need to do and allot yourself the required time duration. Avoid promises that you will find difficult to honor. If you need four days to complete a piece of work, communicate that to your client honestly.

Missed deadlines and delays should be avoided because you will ruin your reputation with your client. He will end up leaving a poor review for you out of pique and frustration.

7. Choose your clients carefully: Please remember that there are thousands of clients looking for writing services. As with other fields of work, there are excellent clients. But not all of them are professional. During the course of your writing career, you may come across stingy, demanding, rude and unreasonable clients.

In my humble opinion, looking for good clients is far more important compared to looking for good projects. The simple reason is that a good project will come to an end while a good client will provide regular work.

This is not to say that you should not consider any work from new clients. However, learn to be discerning in your choice of clients. You are here to sell valuable writing skills. Conduct yourself with dignity and treat your work with respect. Not everyone can write – that’s why your client wants your services in the first place. Avoid selling your work short – this also harms the prospects of other writers.

Clients get the false impression that they can always strike a bargain and pay cheap rates for good work.

8. Client-writer etiquette: The good news is that 96% of clients are really nice. They are here to look for good writers and will be happy to pay for competent services. Ask for feedback from your clients after you complete a piece of work. Be ready to incorporate any requested changes/revisions (within reasonable limits). Build a good rapport with clients. Make it a point to respond to all queries within 24 hours. They will be likely to contact you for further assignments.

9. Use your spare time to build credibility and a good reputation. Write to well-known websites that accept articles for submission. This will help you prove your abilities and reliability to your clients.

There are thousands (indeed millions) of websites that require content, images and articles and blogs to be written. Online writers can earn a decent income from writing for clients who want to build websites. Additionally, you can write for agents who sell your work to clients.

Freelance online writing is an interesting field that is pleasurable and lucrative at the same time. All it takes is effort, diligence and perseverance to make a successful career out of online writing.

Immobilienmakler Heidelberg

Makler Heidelberg


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Source by Nirupama N Raghavan

The Many Ways to Be Relieved of Your Timeshare Obligations

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

While it is true that a timeshare contract is a binding legal document, it is often mistakenly thought that such a contract cannot only be cancelled. In fact, most timeshare companies maintain that their contracts are not capable of being cancelled.

This misconception is perpetuated by timeshare companies and user groups that are funded, maintained and controlled by the timeshare industry.

The truth of the matter is, that under the law, contracts are subject to being cancelled for a variety of reasons, including fraud and mistake.

Moreover, a person who is burdened by the obligations of a contract may „terminate“ it and no longer be bound by the contract for reasons other than breach.

„Cancellation“ occurs when either party puts an end to the contract for breach by the other and its effect is the same as that of ‚termination‘ except that the canceling party also retains any remedy for breach of the whole contract or any unperformed balance.“ Uniform Commercial Code 2106(4); see 13 Corbin (Rev. ed.), §73.2; 13 Am.Jur.2d (2000 ed.)

„Termination“ occurs when either party, pursuant to a power created by agreement or by law, puts an end to the contract otherwise than for its breach. Uniform Commercial Code sec. 2106 (3)

Since it is the law of the land, that a breach of contract by a party to the contract may result in the other party being released from their obligations under the contract, the notion that one is forever bound by a timeshare contract is erroneous as a matter of law.

The purpose of this article is to provide a ray of hope to those timeshare owners who are no longer interested in being tied to their timeshare and its lifetime of financial obligations.

To start, when you first purchase your timeshare, most states have a rescission, or „cooling off,“ period during which timeshare buyers may cancel their contracts and have their deposit returned. This is know as the „right of rescission.“

Once this period expires, however, most timeshare companies will have you believe that their contract is not capable of being cancelled and you are thereafter bound in perpetuity to pay the ever increasing maintenance fees that go along with timeshare ownership.

Moreover, the proponents of timeshare ownership would have you believe that once the initial „right of rescission“ expires the only legal way to end timeshare contracts involve a transfer of ownership whether by selling, donating or giving it away.

In fact, most timeshare user groups and virtually all timeshare companies want you to believe that under no circumstances will a timeshare company voluntarily take back their timeshare. This again, is not true.

What is true is that most timeshare companies will not willingly take back their timeshare. As will be seen below, when faced with litigation or the potential of litigation, many timeshare companies will in fact either take back their timeshare or simply agree to release the timeshare owner from any future liability in connection with the timeshare contract.

Before I discuss the latest developments in cancelling a timeshare, I’d like to devote a little time to the more traditional means of cancelling or getting rid of an unwanted timeshare.

As mentioned above, the traditional means of ridding oneself of an unwanted timeshare is through a sale, donation or transfer.

On the subject of selling a timeshare, many unwary timeshare owners seeking to rid themselves of their timeshare fall pray to listing companies that propose to list their timeshare for sale. Such companies have been under investigation by state Attorney General’s for fraudulent and deceptive practices and a proposed timeshare seller wishing to sell his or her timeshare obligation should first consider selling their timeshare by listing it on sites like eBay or Craigslist.

Other options are to list it through the developer, if the developer handles re-sales, or through a timeshare resale broker. One thing the proposed timeshare seller should not do is pay an advance fee for the sale of their timeshare. It is these advance fee practices that have fallen under the scrutiny of state Attorney Generals.

Another frequently discussed solution to the problem of how to be released from your timeshare’s financial burdens, is to donate the timeshare. Where there once were a number of organizations that accept deeded-timeshare donations, with the ever increasing burden of maintenance fees which seem to go up every year, such organizations are a vanishing breed.

Transferring ownership to a third party who will merely take over the yearly maintenance obligations is another „exit strategy.“ These persons, however, won’t pay you for the timeshare and in many cases the timeshare company will simply refuse to recognize the transfer or alternatively impose onerous resort transfer fees making the transfer to a third party prohibitive for those faced with financial difficulties.

In recent years, however, new techniques pioneered by real estate attorney’s who specialize in timeshare litigation have emerged. These techniques reached their ultimate fruition in a series of lawsuits filed in California which resulted in each and every plaintiff being released from their timeshare contracts.

Other similar actions have followed, all seeking damages for the type of fraudulent and deceptive conduct that is frequently utilized by timeshare sales people to induce unwitting potential owners to sign on the dotted line.

Such conduct includes the following representations, typically made at the time the timeshare was sold:

a. That the timeshare interest purchased would appreciate and increase resale price and value over time.

b. That the timeshare interest purchased could be freely exchanged, transferred and sold.

c. That the timeshare interest purchased was a financial investment.

d. That the timeshare interest purchased would result in the purchaser receiving booking priority over non – purchasing vacationers wishing to stay at one or more of the properties owned and/or maintained by the defendant, timeshare.

As a result of the filing of such actions, timeshare companies have become much more amenable to releasing timeshare owners from their timeshare obligations even without resort to litigation.

In order to avail yourself of such a solution, you should retain an attorney familiar with timeshare laws and the various techniques for terminating a timeshare contract.

In sum, do not believe the naysayers who tell you that it is impossible to get out of a timeshare contract. Should you be the victim of one or more of the foregoing misrepresentations, you too may be able to cancel your timeshare contract.

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Mitchell Sussman

Walgreens, CVS, and Rite Aid – What RE Investors Should Know

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

There are 3 major drugstore chains in the US: Walgreens, CVS, and Rite Aid. Below are some key statistics about the 3 major drugstore chains as of 2012:

1. Walgreens ranks first with market cap of $28.51 Billion, $72.2 Billion in 2011 total revenue ($45.1B from prescription revenues), and an S&P rating of A. According to Walgreens, 75% of the US population lives within 3 miles from its stores. In April 2010, it acquired 258 Duane Reade drug stores in New York Metropolitan area which brings a total of 7841 drug stores Walgreens operates as of February 2012, including 137 hospital on-site pharmacies.

2. CVS ranks second with market cap of $56.56 Billion, $107.1 Billion in revenue ($40.5 Billion from CVS prescription revenues and $16.1B from its Caremark prescription mail order revenue), and an S&P rating of BBB+. As of December 31, 2011, CVS operates 7404 drug stores.

3. Rite Aid ranks third (fourth, behind Walmart in terms of prescription revenues) with market cap of $1.49 Billion, $26.1 Billion in revenue ($17.1B from prescription revenues), operates 4714 drug stores as of February 2011 and has an S&P rating of B-.

Investors purchase properties occupied by these drugstore chains for the following reasons:

1. The drugstore business is very recession-insensitive. People need medicine when they are sick, regardless of the state of the economy. Both rich and poor people in the US have access to medicine. Some even argue that low-income people use more medicine due to free or low-cost drugs offered by government-assisted programs. So the tenants should do well during tough time and have money to pay rent to landlords.

2. The drugstore business has a good prospect in the US:

· People are living longer and need more medicine to sustain longevity, e.g. Actonel for osteoporosis, Aricept for Alzheimer’s symptoms. Older people tend to use more medicine than younger ones as they often have more medical problems. As the 78 million baby boomers are getting closer to retiring age starting from 2008, the drugstore chains anticipate the demand for medicine to increase in next 20 years.

· The drug market continues to expand as the US population continues to grow. More and more Americans suffer from various diseases. The number of Americans suffers from seasonal allergies doubled in the last 15 years to 37 million people per Fortune magazine. They spent $5.4 Billion in 2009 for allergy drugs. As their waist lines balloon (75% of Americans are forecasted to be either overweight or obese by 2020), more Americans are diagnosed with diabetes, along with high cholesterol at younger and younger ages. In addition, doctors also recommend treating various diseases sooner than later due to better understanding about the diseases. For example, doctors now prescribe antiretroviral drugs for patients soon after infected with HIV virus instead of waiting for the infection to become AIDS. More doctors combine insulin with oral medicines to treat type-2 Diabetes instead of just oral medicines alone. All these factors increase the size of the drug market.

· Advance in genetic engineering has introduced various new genetic DNA testing kits which allow the genetic diagnosis of vulnerabilities to inherited diseases and disorders. Genetic testing is currently the highest growth segment in the diagnostics industry. Some of these genetic tests will probably transform into direct-to-consumer testing kits available in drug stores in the near future.Upon FDA approval, these new products will potentially bring in additional revenue for drug stores.

· Using a new method of tailoring molecules called structure-based design; drug companies come up with new medicines that they might not have discovered otherwise, e.g. Xalkori by Pfizer to treat lung cancer.

· The passage of Health Care Reform Bill on March 23, 2010 provides insurance coverage to an estimated 33 million more American. This is a great present to the drugstore industry.

· There are new drugs to treat previously untreatable illnesses, and new diseases, e.g. Viagra for men’s unhappiness, Avastin for colon cancer, Herceptin for breast cancer,. The new medicines are very expensive, e.g. a year’s supply of Avastin costs about $55,000. Eli Lilly has sold about $4.8 billion of Zyprexa in 2007 for schizophrenia and yet most people have never heard of this medicine.

· There are existing drugs now approved to treat new illnesses and thus increase their sales revenue. For example, Lyrica was originally intended to treat pain caused by nerve damagein people with diabetes. It is now approved by FDA to treat Fibromyalgia which affects 5.8 million Americans per WebMD.

· Big advances in genetics, biology and stem cells research are expected to produce a new class of drugs to treat diabetes, Parkinson’s and various rare genetic disorders. For example the new drug Ilaris from Novartis targets genetic causes of an inherited disorder that there are only 7000 known cases worldwide. However, Novartis hopes to gradually broaden its drugs to a blockbuster drug to more common disorders caused by similar genetics.

· Technology and modern life introduce and require new products, e.g. pregnancy test kits, Lamisil for stronger clearer toe nails, Latisse for longer & thicker eyelashes, Propecia for male hair loss, Premarin for menopausal symptoms, diabetic monitors, electronic toothbrushes, contact lenses, lenses cleaners, diet pills, vitamins, birth-control pills, IUDs, nutrition supplements and Cholesterol-lowering pills (Americans spent nearly $26B in 2006 on Cholesterol medications alone per IMS Health, a Connecticut-based consulting company that monitors pharmaceutical sales.)

· Before the customers can get to the medicine aisles or pharmacy counters, they have to pass by chocolates, sodas, digital cameras, watches, toys, dolls, beers and wines, cosmetics, video games, flowers, fragrances, and greeting cards. Drug stores hope you use the one-hour photos services there. The stores also carry seasonal items, e.g. Halloween costumes, and „As Seen on TV“ merchandise, e.g. Shamwow. As a result, customers buy more than their prescriptions and medicine in these drugstores. CVS reported that non-pharmacy sales represented 30% of the company’s total sales in January of 2007. The figure for Walgreens is 34% and 37% for Rite Aid. Many pharmacy locations are in effect convenience stores especially ones that are in residential or rural areas. And so Walgreens hopes that customers also pick up WD-40, and screwdrivers at its stores instead of at Home Depot; Thai Jasmine rice, and fish sauce to avoid a trip to Safeway or Kroger Supermarkets. During the recession, sales of these non-drug items are down as customers buy what they need and not what they want. Walgreens tries to reduce the number of items by 4000. It also introduces its own private label which has higher profit margins.

· There are more and more generic medications on the market as a number of enormously popular brand-name blockbusters lose their 20-year long patents, e.g. Lipitor (best selling drug in the world to lower cholesterol) in 2010, Viagra (you know what it’s for) in 2012. Drugstores prefer to sell generic drugs to customers due to higher profit margins than the brand-name medications.

· Many people are addicted to pain killers, e.g. Hydrocodone/Oxycodone. Per the DEA in 2012, there are 1.5 million American addicted to cocaine but 7 million addicted to prescription drugs.

· This author estimates that at least 10% of the dispensed prescription drugs are not used at all and sit idle in the medicine cabinets. They are eventually expired and thrown away.

3. These companies sign very long-term NNN leases, guaranteed by their corporate assets. This makes the investment in the underlying property fairly low risk, especially for Walgreens with a S&P „A“ rating. In fact, these properties are sometimes referred to as investment-grade properties. Once the drugstore chains sign the lease, they pay the rent promptly and timely. This author is not aware of any properties leased by one of these drugstore chains in which the tenants failed to pay rents. Even when the stores are closed due to weak sales (Walgreens closed 119 stores in 2007), these companies may sublease the properties to other companies, e.g. Advance Auto Parts and continue to pay rents on the master leases.

· A typical Walgreens lease consists of 20-25 year primary term plus 8-10 five-year options. During primary term and options, there will be no rent increases in most of the leases. This is the main disadvantage of investing in Walgreens drugstores.

· A typical CVS lease consists of 20-25 year primary term plus 4-5 five-year options. The rent is normally flat during the primary term and then there is a 2.5%-10% rent increase in each 5-year option.

· A typical Rite Aid lease consists of 20-25 year primary term plus 4-8 five-year options. The lease often has a rent increase every 5-10 years.

Investment Risks

Although the pharmacy business in general is recession-insensitive, there are risks involved in your investment:

1) The main downside about investing in pharmacies is there is little or no rent bump for a long time, e.g. 20-50 years, especially for Walgreens. So the rent is effectively reduced after inflation is factored in. This is one of the main reasons these properties do not appeal to younger investors, especially when the cap rate is low.

2) The 3 drugstore chains now have a new formidable competitor, Walmart. Walmart sells prescription drugs in more than 4000 Walmart, Sam’s Club and Neighborhood Market stores in 49 states. As of 2012, Walmart is the third largest drug retailer with $17.4B in prescription sales, just ahead of Rite Aid with $17.1B in prescription sales. The retail giant is known for launching in 2006 a highly-publicized $4 generic prescription drug program which now sells 350 generic medications for a 30-day supply. The actual number of medications is less as the medications with different strengths are counted as different medications. For example, Metformin 500 mg, 850 mg, and 1000 mg are counted as 3 medications. Walmart probably makes very little profits on these medications if any. However, the marketing campaign–created by Bill Simon, the President and CEO of Walmart US, generates a lot of publicity for Walmart. Walmart hopes to draw customers to its stores with other prescriptions where it has higher profit margins. In an unscientific survey with just one brand-name prescription of Lyrica, this author finds the lowest price at Costco, the highest price at Walgreens and Walmart at the middle. Other drug chains try to counter Walmart in different ways. Target now offers the same 350 generic medications for $4 for a 30-day supply. Walgreens has a Prescription drugs club with membership fee which offers 1400 generic medications for as little as $1/week. CVS says it will match any offers from its competitors.

3) Chief Business Correspondent Rick Newman from US World & News Report predicted that Rite Aid might not survive in 2009. Rite Aid is still around in 2012. The prediction seems to go away in 2012 as Rite Aid as it was able to refinance the long terms debts and sales revenue has increased.

4) Drugs are also sold in thousands of supermarkets, Target stores, and Costco warehouses. However, there are no drive-through windows at these stores or Walmart to conveniently drop off the prescriptions and pick up medicines. Customers will not be able to pick up their prescriptions during lunch hour or after 7PM at Target stores or supermarkets. They need to have membership to buy medicines at Costco. Others may not fill their prescriptions at Walmart because they don’t want to mingle with typical Walmart customers who are in lower income brackets. And some baby boomers don’t want their prescriptions filled at Target or Walmart because there are no comfortable chairs for them to sit down and wait for their medicines.

5) Drugs retail business to some degree is controlled by the Pharmacy Benefits Managers (PBMs). Customers normally get prescription coverage from their health insurance companies, e.g. Blue Cross. These PBM manage prescription benefits on behalf of the insurance companies. In 2012 Walgreens lost a contract valued at over $5 Billion with Express Scripts, a major PBM. Walgreen revenue was immediately fallen in the first quarter of 2012 as Express Scripts customers cannot fill their prescriptions at Walgreens. The PBMs are also in the drugs retail business via mail orders which do not require leasing expensive retail spaces. The prescription mail orders currently capture over 20% market share of the total prescription revenue. Should customers change their prescription purchase habits to mail orders (there is no such evidence in 2012), it could have negative impact to the business of drugstore chains.

6) Many leases in areas with hurricanes and tornadoes are NNN leases with the exception of roof and structure. So if the roof is damaged, you will have to pay for the expenses.

7) The tenant may move to a new location down the road or across the street when the lease expires. This risk is high when the property is located in small town where there is low barrier for entry, i.e. lots of vacant & developable land.

8) The tenant may ask for rent concession to improve its bottom line during tough times. The possibility is higher if the tenant is Rite Aid and if the store has low sales revenue and/or higher than market rent.

9) More Americans are walking away from their prescriptions, especially the most expensive brand-name medicines. This may have negative impact on the sales revenue and profits of drug stores and consequently may cause drug store closures. According to Wolters Kluwer Pharma Solution, a health-care data company, nearly 1 in 10 new prescriptions for brand-name drugs were abandoned by people with commercial health plans in 2010. This is up 88% compared to 4 years ago just before the recession began. This trend is driven in part by higher and higher co-pays for brand name drugs as employers are shifting more insurance costs to their employees.

Among 3 drugstore chains, Walgreens and CVS pharmacies in general have the best locations-at major intersections while Rite Aid has less than premium locations. Walgreens tends to hire only the top graduates from pharmacy schools while Rite Aid settles with bottom graduates to save costs. When possible, all drugstore chains try to fill the prescriptions with generic medications which have higher profit margins.

1) Walgreens: the company was founded in 1901 by Charles Walgreen, Sr. in Chicago. While the company has existed for more than 100 years, most stores are only 5-10 years old. This is the best managed company among the three drugstore chains and also among the most admired public companies in the US. The company has been run by executives with proven track records and hires the top graduates from universities. Due to its superior financial strength–S&P A rating– and premium irreplaceable locations, properties with leases from Walgreens get the highest price per square foot and/or the lowest cap rate among the 3 drugstore chains. In addition, Walgreens gets flat rent or very low rent increases for 20 to 60 years. The cap rate is often in the low 5% to 6.5% range in 2012. Investors who buy Walgreens tend to be more mature, i.e. closer to retirement age. They are looking for a safe investment where it’s more important to get the rent check than to get appreciation. They often compare the returns on their Walgreens investment with the lower returns from US treasury bonds or Certificate of Deposits from banks. Walgreens opened many new stores in 2008 and 2009 and thus you see many new Walgreens stores for sale. It will slow down this expansion in 2010 and beyond and focus on renovation of existing stores instead.

2) CVS Pharmacy: CVS Corporation was founded in 1963 in Lowell, MA by Stanley Goldstein, Sidney Goldstein, and Ralph Hoagland. The name CVS stands for „Consumer Value Stores“. As of 2009, CVS has about 6300 stores in the US, mostly through acquisitions. In 2004, CVS bought 1,200 Eckerd Drugstores mostly in Texas and Florida. In 2006, CVS bought 700 Savon and Osco drugstores mostly in Southern California. And in 2008 CVS acquired 521 Longs Drugs stores in California, Hawaii, Nevada and Arizona for $2.9B dollars. The acquisition of Long Drugs appears to be a good one as it CVS did not have any stores in Northern CA and Arizona. Besides, the price also included real estate. It is also bought Caremark, one of the largest PBMs and changed the corporation name to CVS Caremark. When CVS bought 1,200 Eckerd stores, it formed a single-entity LLC (Limited Liability Company) to own each Eckerd store. Each LLC signs the lease with the property owner. In the event of a default, the owner can only legally go after the assets of the LLC and not from any other CVS-owned assets. Although the owner loses the guaranty security from CVS corporate assets, this author is not aware of any incident where CVS closes a store and does not pay rent.

3) Rite-Aid: Rite Aid was founded by Alex Grass (he just passed away on Aug 27, 2009 at the age of 82) and opened its first store in 1962 as „Thrif D Discount Center“ in Scranton, Pennsylvania. It officially incorporated as Rite Aid Corporation and went public in 1968. By the time Alex Grassstepped down as the company’s chairman and chief executive officer in 1995, Rite Aid was the nation’s largest drugstore chain in terms of total stores and No. 2 in terms of revenue. His son, Martin Grass, took over but was ousted in 1999 for overstatement of Rite Aid’s earnings in the late 1990s. Rite Aid is now the weakest financially among the 3 drugstore chains. In 2007, Rite-Aid acquired about 1,850 Brooks and Eckerd drugstores, mostly along the East coast to catch up with Walgreens and CVS. In the process, it added a huge long term debt and is the most leveraged drugstore chain based on its market value. The integration of Brooks and Eckerd did not seem to go well. Revenue from some of these stores went down as much as 20% after they change the sign to Rite Aid. In 2009, Rite-Aid had over 4900 stores and over $26 Billion in revenues. The figures went down in 2010 to 4780 stores and $25.53 billion in revenue. On January 21, 2009 Moody’s Investor Services downgraded Rite Aid from „Caa1“ to „Caa2“, eight notches below investment grade. Both ratings are „junk“ which indicate very high credit risk. Rite Aid contacted a number of its landlords in 2009 trying to get rent concession to improve the bottom line. In June 2009, Rite Aid successfully completed refinancing $1.9 Billion of its debts. In 2012, Rite Aid benefits from Walgreens contract problem with Express Scripts. Same store sales increased 2.2%, 3.2%, and 3.6% for January, February and March of 2012, respectively. Rite Aid is still losing money in fiscal year 2012 which ended in March 3, 2012. However, it is losing less, $0.43 per share in 2012 versus $0.64 per share in fiscal year 2011. The company expects better outlook in fiscal year 2013.

Things to consider when invested in a pharmacy

If you are interested in investing in a property leased by drugstore chains, here are a few things to consider:

1. If you want a low risk investment, go with Walgreens. In stable or growing areas, the degree of safety is the same whether the property is in California where you get a 5.5% cap or Texas where you may get a 6.5% cap. So, there is no significant advantage to invest in properties in California as the property value is based primarily on the cap rate. In 2012, the offered cap rate for Walgreens seems to come down from 7.5%-8.4% in 2009 to 5.5%-6.5% for new stores.

2. If you are willing to take more risk, then go with Rite-Aid. Some properties outside of California may offer up to 9% cap rate in 2012. However, among the 3 drug chains, Rite Aid has 10.5% chance of going under in 2010. Should it declare bankruptcy, Rite Aid has the option to pick and choose which locations to keep open and which locations to terminate the lease. To minimize the risk that the store is shuttered, choose a location with strong sales and low rent to revenue ratio.

3. Financing should be an important consideration. While the cap rate is lower for Walgreens than Rite Aid, you will be able to get the best rates and terms for Walgreens.

4. If you are not a conservative investor or risk taker, you may want to consider a CVS pharmacy. It has BBB+ S&P credit rating. Its cap rate is higher than Walgreens but lower than Rite Aid. Some leases may offer better rent bumps. On the other hand, some CVS leases, especially for properties in hurricane areas, e.g. Florida are not truly NNN leases where landlords are responsible for the roof and structure. So make sure you adjust the cap rate down accordingly. Some of the CVS locations have onsite Minuteclinic staffed by registered nurses. Since this clinic idea was introduced recently, it’s not clear having a clinic inside CVS is a plus or minus to the bottom line of the store.

5. All 3 drugstore chains have similar requirements. They all want highly visible, standalone, rectangular property around 10,000 – 14,500 SF on a 1.5 – 2 acre lot, preferably at a corner with about 75 – 80 parking spaces in a growing and high traffic location. They all require the property to have a drive-through. Hence, you should avoid purchasing an inline property, i.e. not standalone and property with no drive-through windows. There is a chance that these drugstores may not want to renew the lease unless the property is located in a densely-populated area with no vacant land nearby. In addition, if you acquire a property that does not meet the new requirements, for example a drive-through, you may have a problem getting financing as lenders are aware of these requirements.

6. If the pharmacy is opened 24 hours a day, it is in a better location. Drugstore chains do not open the store 24 hours day unless the location draws customers.

7. Many properties may have a percentage lease, i.e. the landlord can get additional rent when the store’s annual revenue exceeds a certain figure, e.g. $5M. However, the revenue used to compute percentage rent often excludes a page-long list of items, e.g. wine and sodas, tobacco products, items sold after 10 PM, drugs paid by governmental programs. The excluded sales revenue could account for as much as 70% of store’s gross revenue. As a result, this author has seen only 2 stores in which the landlord is able to collect additional percentage rent. The store with a percentage rent is required to report its annual sales to the landlord. As an investors, you want to invest in a store with strong gross sales, e.g. over $500 per square foot a year. In addition, you also want to check the rent to revenue ratio. If the figure is in the 2-4% range, the store is likely to be very profitable so the chance the store is shut down is low.

8. It does not matter how good the tenants are, avoid investing in declining, e.g. Detroit and/or low-income areas or small towns with less than 30,000 residents within 5 miles ring. In a small town, it may be the only drug store in town and captures most of the market share. However, if a competitor opens a new location in the area, revenue may be severely affected. In addition, the tenant can always moves to a new location down the road when the lease expires since there is low barrier to entry in a small town. These properties are easy to buy now and hard to sell later. When the credit market is tight, you may have problems finding a lender to finance these properties.

9. Many properties have an existing loan that the buyer must assume. If you have a 1031 exchange, think twice about buying this property. You should clearly understand loan assumption requirements of the lenders before moving forward. Should you fail to assume the existing loan (assuming an existing loan is a lot more difficult than getting a new loan), you may run out of time for a 1031 exchange and may be liable to pay capital gain.

10. With few exceptions, drugstore chains do not own the stores they occupy for several reasons. Here are just a couple of them:

– They know the pharmacy business but don’t know real estate. Stock investors also don’t want Walgreens to become a real estate investment company.

– Owning the real estate will require them to carry lots of long term debts which is not a brilliant idea for a publicly-traded company.

11. About 10% of the drugstore properties for sale and typically CVS pharmacies require very small amount of equity to acquire, e.g. 10% of the purchase price. However, you are required to assume an existing fully-amortized loan with zero cash flow. That is, all of the rent paid by the tenant must be used to pay down the loan. The cap rate may be in the 7-9% range, and the interest rate on the loan could be attractive in the 5.5% to 6% range. Hence, the investor pays off the loan in 10 to 20 years. However, you have no positive cash flow. This requires you to come up with outside cash to pay income tax on the rental profits (the difference between the rent and mortgage interest). The longer you own the property, the more outside cash you will need to pay income taxes as the mortgage interest will get less and less toward the end. So who would buy this kind of property?

– The investors who have substantial losses from other investment properties. By acquiring this zero cash flow property, they may offset the income from the drugstore tenant against the losses from other investment properties. For example, a property has $105,000 of rental profits a year, and the investor also has losses of $100,000 from other properties. As a result, the combined taxable profits are only $5,000.

– The uninformed investors who fail to consider that they have to raise additional cash to pay income taxes.

Out of the Box Thinking

If you put too much weight on the S&P rating of the tenants, you may end up either taking a lot of risks or passing up good opportunities.

  1. A Good location should be the key in your decision on which drug store to invest in. It’s often said a lousy business should do well at a great location while the best tenant will fail at a lousy location. A Walgreens store that is closed down later on (yes, Walgreens closed 119 stores in 2007) is still a bad investment even though Walgreens continues paying rent on time. So you don’t want to blindly invest in a drug store simply because it has a Walgreens sign on the building.
  2. No company is crazy enough to close a profitable location. It does not take rocket science to understand that a financially-weak company like Rite Aid will make every effort to keep a profitable location open. On the other hand, a financially-strong Walgreens will need justifications to keep an unprofitable location open. So how do you determine if a drug store location is profitable or not if the tenant is not required to disclose its profit & loss statement? The answer is you cannot. However, you can make an educated guess based on the store’s annual gross revenue which is often reported to the landlord as required by the percentage clause in the lease. With the gross revenue, you can determine the rent to income ratio. The lower the ratio, the more likely the store is profitable. For example, if the annual base rent is $250,000 while the store’s gross revenue is $5M then the rent to income ratio is 5%. As a rule of thumb, it’s hard to make a profit if this ratio is more than 8%. So if you see a Rite Aid with 3% rent to income ratio then you know it’s likely a very profitable location. In the event Rite Aid declares bankruptcy, it will keep this location open and continue paying rent. If you see a Rite Aid drug store with 3% rent to income ratio offering 10% cap, chances are it’s a low risk investment with good returns and the tenant will most likely to renew the lease. The weakness of corporate guaranty from Rite Aid is probably not as critical and the risk of having Rite Aid as a tenant is not really that significant.
  3. Drug stores with new 25 years leases tend to sell at lower cap, e.g. 6-7% cap on new stores versus 8.0-8.5% cap on established locations with 5-10 years remaining on the lease. This is because investors are afraid that the tenants may not renew the leases. Unfortunately, lenders also have the same fear! As a result, many lenders will not finance drug stores with 2-3 years left on the leases. The fact that drugstores with new leases have a premium on the price means they have potential of 20% depreciation (buying new at 6% cap and selling at 7.5% cap when the leases have 8 year left). Some investors will not consider investing in drug stores with 5-10 years left on the lease. They might simply ignore the fact that the established stores may be at irreplaceable locations with very strong sales. Tenants simply have no other choices other than renewing the lease.

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Source by David V. Tran

Buying and Selling Mortgage Notes

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

It might be common nowadays to see a sign that reads „mortgage notes for sale,“ but since this is about money and business, things could get tricky. Here is a guide meant to help each individual in choosing the right mortgage note and how to wisely purchase notes for sale.

A mortgage note is proof that there was a debt made for a piece of land or property. When a person puts his property for mortgage, it’s like saying that if he is unable to pay, then the property will be the one to repay the fee or cost that the debtor was unable to pay for. Some people sell their mortgaged land or property and are called mortgage notes.

First, contact a mortgage broker. They can be found online, in newspaper ads, or in the local phone directory. It might also be helpful to ask friends and colleagues for referral as trust is already built in. The mortgage broker’s job is somewhat like a matchmaker as his role is to find which note best suits the client.

It is good practice to carefully go through the mortgage note with the broker. Since it will come with some terms, it is best to ask the broker what they mean and how to go about the investment. The broker is supposed to discuss the investment opportunities and the rate of interest as a return on the investment. It would also be helpful to contact the bank or firm which processed the note for better understanding and practical advice.

When buying a mortgage note, a promissory note is required. This formalizes the agreement and makes it bound to legal terms, which is safer since the former owner will have to pay the new lender (the one buying the note) a certain amount of money. The promissory note should also include all the terms and agreements that are written on the note.

When buying these kind of notes, a third and unbiased party is usually involved and that person is in charge of creating an escrow account. A note broker or real estate broker is someone who is authorized to create an escrow account and manage the funds of the mortgage note.

Once bought, the buyer must deposit the funds into the escrow account and the person that’s managing the account will be responsible for the disbursement of the money to the one who sold it.

The new owner of the mortgage note should then receive monthly payments as he now owns the property. Again, the money should be paid to the escrow account and in the same way, the manager of the account will be the one to disburse the funds.

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Source by Eliza Raven Diaz

I Need a Sample Expired Listing Letter

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

„I need a sample expired listing letter to send out. I am new and want to make sure that I send out the right letter to the homeowners. Thank you.“ wrote a real estate agent from California recently.

It took me more than two years to perfect my expired listing letter I sent to the expireds with my resume. Writing, testing, rewriting, testing, editing… I kept looking for that perfect letter that would make finally my phone ring with „Please, come list our house!“ But it never happened. Why? Here is the problem…

When a listing expires, the sellers receive twenty… thirty… even fifty expired listing letters within the first three days! That is one BIG stack of letters. It makes no difference how strong, well written, and powerful your letter is, it will get lost in the pile of others. That’s the bad news. Does it mean you should not use mail to communicate with the expired listings? Of course not.

The answer is not in just ONE letter. One expired listing letter will never get it done. If you really want to list expireds consistently, you must use several contacts using multiple real estate marketing methods. Here is an example…

Some home sellers prefer letters. They open every one and read it carefully. With these folks, a set of well written letters can make the biggest difference. Other expired listings respond better to your post cards. They prefer short, snappy messages, and they like the interesting visuals.

Others sellers review your resume page by page. They may even call a reference or two. Some will closely read your web site. Some will read emails you send them. Some only like to talk with you on the phone, and ignore any mailings. And some prefer to do business the old fashioned way and meet you in person. It just depends…

And then there is another group of home owners that you need to approach using a mix of all the real estate marketing tools you have at your disposal. Since you don’t know what will work with whom, you have to do it all, do it well, and do it consistently (the Expired Plus system comes with an entire set of great expired listing letters and marketing).

How long should you keep the mail going? Until you (or anther real estate agent) list the house. It was common for me to list homes that had expired six… eight… even twelve months prior.

Most real estate agents quit after just a few mailings. If you stay persistent, keep mailing them well written expired listing letters, postcards, and updates – anything that’s interesting, it will pay of handsomely.

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Source by Borino Slivka

Real Estate Deposit vs Down Payment

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

When you’re selling your home, you have to be familiar with related real-estate lingo. You have to know the difference between a canopy and an awning; a mortgage and a loan; and most importantly, the difference between a deposit and a down payment.

Believe it or not, there are a lot of home sellers who think that deposits and down payments are one and the same, when in reality they are not.

A deposit is the money given or handed over to the owner when a buyer indicates a sincere desire to purchase the property being sold. It is a token amount that could be as small as a few hundred dollars, or as big as 5% of the total purchase price. The deposit can be returned when the transaction does not fall through for reasons beyond the control of the buyer, and can also be forfeited in favour of the seller. When the purchase pushes through, the deposit is credited to the buyer and forms part of his down payment.

A down payment or equity, on the other hand, can be considered as an initial payment on the property itself. It is given when the buyer has decided to actually purchase the house (unlike in deposit, where it is given when the buyer indicates a desire to buy the unit). The down payment is the total amount of money a buyer can give as a partial payment and is generally of a bigger value (10% of the total property cost, or more) than regular deposits.

It’s fairly easy to differentiate. Just remember that a deposit is smaller and, once the transaction pushes through, becomes part of the down payment. The total of these two, plus any outstanding balance, should be the agreed upon purchase price of the property.

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Source by Gloria Smith