What is the Title Company’s Responsibilities?

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

Buying and selling real estate is certainly not an easy proposition; innumerable factors have to be taken into consideration, exhaustive researches have to be conducted, important financial and legal matters have to be efficiently handled, and endless paperwork has to be done meticulously. In such a complex scenario, the helping hand of the Title Company provides the much needed relief and peace of mind.

What is a Title Company?

Before we deal with the definition of the Title Company, it is essential to understand the term Title. A Title is basically a document that confirms that a particular person or company is the owner of the property. It is very different from Possession, where a person just holds the property, irrespective of whether he has any right to do so or not. Title, on the other hand, confirms true ownership.

The company that looks for such Title Deeds is called a Title Company. In addition to this, the company examines the title thoroughly to validate its authenticity, and also tries to delve out all the legal and financial issues related to the property. Furthermore, it facilitates the smooth closing of the real estate deal.

What exactly are the responsibilities of a Title Company?

The primary responsibility of a Company tackling issues related to the title is to search for the Title Deed to ascertain whether the seller is the true owner of the property or not. Apart from the ownership details, the company also looks for possession details. False claims can adversely affect the deal; for this reason, Title research is crucial.

The next important responsibility of a Title Company is to find out all the legal and financial upheavals that are bordering the property. Pending litigations, back taxes, first and second mortgages, debt, mechanical liens, and so forth are the matters of grave concern. Although they have to be tackled by the seller, but when the deal closes, the buyer becomes the owner of the property and thereby inherits all these hassles. If you wish to acquire a clean and clear title, hire a Title Company without a second doubt.

Yet another significant responsibility of the Company checking titles is to help in closing the deal properly. When the deal is about to be closed, tons of documents have to be read and signed. A good company not only makes the process really easy, but also helps you to understand all the intricate terms and phrases. When you mind is clear of confusion, you can think about and enjoy your newfound landowner status.

Some additional duties that a Title Company performs

An important responsibility of the Company dealing with titles is to issue title insurance. A superlative company would leave no stone unturned to authenticate the legitimacy of the Title Document. However, if the company makes any mistake in finding the ownership details or tracking the legal and financial problems associated with the property, the title insurance would provide you all the protection. Thus, title insurance is exceedingly important, but such a situation is preventable too. All you need to do is to select a Title Company that has an impeccable track record.

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Source by Anubha S Shyam

Starting a Homemade Pasta Making Business

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

Starting a Homemade Pasta Making Business

The first thing that you should know if you are starting a homemade pasta making business is the basic process of making fresh pasta. This kind of pasta is made from fresh ingredients and has a shorter shelf life compared to the commercially made or dry pasta.

Manufacturing fresh pasta is better because the business owner can tailor fit it to the consumer’s needs and demands in terms of the shape, size, color and flavor of the finished product.

Below are some suggested steps in starting a homemade pasta making business, categorized into: Initial Stage, Regulatory Compliance and Marketing.

Initial Stage

• Create and perfect your own recipe that you think will sell and will come out the same way every time you prepare it. Have your family and friends taste them and ask for feedback.

• As in any business, when you are starting a homemade pasta making business, prepare a business plan which would contain the goals and business projections that you have set. This will guide you in the actual running of the business and to help you gauge if the business is doing good or not.

• Purchase your ingredients and supplies like bags and packaging supplies. Decide on how you intend to package your homemade pasta. You could pack it in a freezer-safe bag where the consumers can freeze it, refrigerate it or eat it immediately. It could also come in cellophane bags. You could search online for bulk suppliers for these items. You will be able to save money and will help create a professional and consistent look. Design your own labels on your computer and print them out or you could ask a professional designer to create them for you and order your labels in bulk. Make sure to include the cooking and serving instructions in the labels.

• Purchase equipments that you don’t already have to make the preparation of large batches of your recipes a lot faster and easier.

• Determine a wholesale price list for all your products. Factor in all the cost that you will be incurring in producing you homemade pasta like the ingredients, facility cost, packaging and labor cost. This should be drawn up in a spreadsheet form which would include the retail as well as bulk prices for each of your product. This information will be useful to your future retailers because it will show the proof of the profit they will be making if they sell your homemade pasta in their stores.

Regulatory Compliance

• Since you will be starting a homemade pasta making business and producing a food product, you need to get in touch with your local and state health departments to inquire about permit and licensing requirements.

• Make sure that you could sell the products that are produced from your home kitchen because different states have different laws regarding homemade food products. These information are available online from your state’s Department of Health website or you can ask for a copy. Try to check on local zoning laws if operating a business from your home is allowed. As of 2010, only 13 states allow the operation of home-based cooking business and they are: Alabama, Iowa, Indiana, Kentucky, Maine, New Hampshire, North Carolina, Ohio, Pennsylvania, Tennessee, Vermont, Virginia and Utah. So it is important that you check into these before starting your business.

• Most states allow the sale of homemade food products at farmers‘ markets and flea markets without the necessary state licensing and inspection. They allow the sale of these products at these places only. Before starting a homemade pasta making business and deciding to sell your products in these venues, make sure that your state does not have any label requirements, like this label for example, „Made in a home kitchen and not inspected by the (insert state) Department of Agriculture.“ The label should indicate the product name and the ingredients that you used and check the cottage laws of your state about the requirements of home labeling.

• Most of the home based cooking operations are either sole proprietorship or partnerships. If you plan to make your business as a source of livelihood, a DBA (Doing Business As) license would be the best route if you will name your business. As of 2011, the registration fee is between $25 and $35. The DBA registration is not required though if your business name contains your legal name. Your state may also have other food processing licensing regulations which are peculiar to your homemade pasta making business.

Marketing

• Your main competitor in the homemade pasta business is the commercial pasta. Therefore, it is not a good idea to compete with these manufacturers in the supermarkets and groceries because this is not the right avenue to sell your products. You must do the traditional and tried and tested marketing strategies to attract your customers like posters and handing out flyers. Make your business be known in your community by giving out samples of pasta dishes with your fresh pasta or give them for free at community gatherings or meetings. It is also good to custom-made your fresh pasta during these events in order to cater to the individual needs of the customers. If you are into making healthy pasta, you can try selling your products at your local health stores.

• Other possible places to sell your products are the local farmers‘ markets, craft fairs and flea markets. A lot of people like the taste of homemade goods like fresh pasta but just doesn’t have the time to prepare them themselves. You can give them that homemade taste that they are looking for. During holidays and special occasions, many people love give local and homemade food products as gifts.

• You can also market your food products by creating your own brochures, catalogs and price lists and offering your products at retail outlets that sell local products. Draw up a list of your target retailers in your community with the name and contact information of the person who is in charge of purchasing.

• Try to ask if your local Italian restaurants purchase pre-made pastas because this could be a possible joint venture between your business and their restaurants.

• The internet is also a good venue to feature your products on a national scale. If possible, you could build your own website to help your business grow.

Hope these steps will help you in starting a homemade pasta making business.

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Source by Pinky Maniri

How to Start a Foreclosure Cleanup and Property Preservation Company

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

A new article on June 3, 2009 from MSN Money writer Michael Brush indicates that there is a third wave of foreclosures still to come from prime borrowers (i.e. those previously „safe-borrowers“ with sound credit and fixed-rate mortgages) as a result of job losses thanks to the worsening economy („Coming: A 3rd Wave of Foreclosures“).

The article states that „In the first quarter, the percentage of these borrowers who were behind on their mortgages or in foreclosure had doubled from a year earlier, to nearly 6%“ and goes on to say that „Credit Suisseanalyst Rod Dubitsky predicted last week that 8.1 million mortgages, or 16% of all mortgages, will go into foreclosure over the next four years. A weak economy, continued declines in home prices and rising delinquencies among prime borrowers all but ensure that foreclosures „will march steadily higher,“ he says.“ Not such great news for the economy, but good news indeed for entrepreneurs interested in starting a foreclosure cleanup business to clean and repair foreclosed homes for the banks.

To put this in perspective, this means that there will be over 2 million foreclosures a year and more than $2,025,000,000 up for grabs in money that will be spent on cleaning up these foreclosed properties (since the average bill is $1000+ to clean up one of these properties).

Let’s take a look at how you can position yourself to capitalize on this coming foreclosure movement

Set Up Your Company Properly

If you want to be hired for cleanup or preservation work, you’ll need to operate your business as a professional company. The good news is that you can set up a business quickly and inexpensively, and usually on your own. Many people decide to set up an LLC (Limited Liability Company) because of how quickly and easily it can be done but you’ll want to check with your accountant or other business professional to select the type of business entity that’s right for your personal situation.

If you do decide to start an LLC, you can usually find all of the documents you need online from your state’s government website. Usually the branch you’re looking for will be called the „Industrial Commission“ or „Corporation Commission“ or similar. Try typing in „start a business + ______ (your state)“. Anything ending in „.gov“ is usually a good place to start as it indicates a government site.

Once your business is set up, you’ll need an Employer Identification Number (EIN), which is like a SSN for your business. You can register for one online: type in „IRS“ & „EIN“ into a search engine to find the online registration link.

As soon as you have your EIN (which you can usually get immediately online), you can open up a business bank account for your company. This step is very, very important. In the excitement of things, many people get caught up in the day-to-day dealings of running a business and use their personal accounts to pay for business expenses. Not only does this present an accounting nightmare at the end of the year, but it could present problems for you with the IRS if you don’t keep your personal and business finances separate.

Once you legally set up your business, you may be required to register your business with your county or city in order to get a business license to operate. You can start by calling City Hall or the Office of the County Clerk to inquire as to whether or not you need a city/county/state business license and if so, how to get one.

So to recap:

1. Legally set up your business

2. Get your EIN # and set up a business bank account

3. Apply for a business license

4. If you want to do preservation work, determine whether or not you need a contractors‘ license

Get Insurance

You absolutely must have a Commercial Liability Insurance policy and Workers‘ Compensation Insurance in order to run your business. Not only is insurance essential for protecting yourself from liability and protecting those that work for you in the event of a work-related injury, but many asset management companies will not do business with you if you do not meet their minimum insurance requirements.

Insurance will likely be one of your largest start-up costs, however, most insurance companies allow you to pay the premium on a monthly (rather than yearly) basis, which definitely makes this expense more affordable.

General Liability Insurance policies can cover the following: bodily injury, property damage, contractual liability, personal and advertising injury, professional liability (also known as Errors & Omissions (E&O) insurance, this coverage protects you and your business from litigation caused by charges of professional neglect or failure to perform your professional duties), hired auto and non-auto liability and umbrella liability.

You’ll want to speak directly with your insurance agent to get a better idea of the extent of the coverage provided by their particular policy and one that is best suited for your individual needs

Workers‘ Compensation Insurance is required in most states when you have W2 employees, and some states also require your insurance to cover your 1099 contractors also. Workers‘ Compensation („Workers‘ Comp“) covers your employees‘ medical and disability expenses related to work-related illness and on-the-job injuries.

In the states where you are not required to cover your 1099 contractors you would need them to provide proof that they carry their own Workers‘ Compensation insurance. Although tempting to shift the financial burden of maintaining a policy onto your 1099 contractors, in all reality, you are probably better off to take on the cost of all staff Workers‘ Compensation (all W2 employees and 1099 contractors). The reason is that it’s difficult to find only independent contractors that have their own policy. In addition, this industry has such high turnover that if you put this restriction on your independent contractors, you’ll waste valuable time and lost revenues trying to find replacements in a hurry.

Here’s a great tip: sometimes you can get „pay-as-you-go“ insurance where your workers‘ compensation insurance premiums are based on your actual payroll, rather than an estimated amount. This is great for companies that are just starting out or have a fluctuating workload. Type in „pay as you go workers comp“ into a search engine for results in your area.

As a second tip, we’ve used Farmers Insurance for years and have always had excellent customer service and great rates. Just Google „Farmers Insurance“ for an agent in your area.

Foreclosure Cleanup v.s. Property Preservation Services

As the name suggests as a Foreclosure Cleanup Company, you’ll be cleaning out all of the junk in the house (also called a „trashout or a „junk out“), as well as cleaning the interior of the home. You may also be required to remove vehicles on the property. Usually foreclosure cleanup companies are also responsible for doing a basic landscape cleanup which includes hauling out any junk from the front/back yards, cutting the grass and trimming trees/bushes.

Cleaning up the property is the extent of services offered by a Foreclosure Cleanup Company, whereas a Property Preservation Company is also involved in the „securing“ of the property and the „preserving“ of the property.

Here are some of the services that a preservation company may offer (note that a Property Preservation Company will generally also offer cleanup services):

Securing the Property

o Initial vacant property inspection

o Lock changes

o Boarding of windows and doors

o Temporary roof repair

o Securing swimming pools

Preserving the Property

o Exterior Debris removal

o Abandoned vehicle removal (cars, boats, etc.)

o Interior Debris removal (junk-out)

o Hazardous waste removal

o Interior cleaning services including carpet cleaning

o Window washing/graffiti removal

o Window replacement

o Pool services (draining, acid washing, maintaining, etc.)

o Pest control services

o Yard maintenance/landscaping

o Snow removal

o Winterization

o Gutter cleaning

o Pressure washing

o Carpet removal & replacement

o Tile/Floor repairs

o Painting

o Sheetrock/drywall repairs

o Carpentry repairs

o Plumbing fixtures repairs & replacements

o Fire & mold remediation

o Fence repair

Here are a few things to consider when determining the extent of the services you want to offer:

A Contractors‘ License is generally not required for Foreclosure Cleanup Company but is likely required for preservation companies doing work over a certain dollar value (usually $500 – $1000+). Sometimes this license can be obtained by attending a course and successfully passing a test whereas other states require previous, verifiable industry experience.

The insurance premiums tend to be higher on companies that offer preservation services as they are considered to be a „general contractor“. However, the revenue potential is much higher as preservation services tend to run from a few thousand dollars upwards instead of $800 – $1500 for each cleanout.

Usually what people do is start out initially offering just the foreclosure cleanup services and then when things pick up, they’ll add preservation items to the list of services they offer. This let’s them get their foot in the door without having to spend a whole lot of money upfront when setting up their company.

Source the Right Equipment & Tools

The great thing about starting a foreclosure cleanup company is that the initial expenses are quite low as much of the equipment and tools needed for cleaning foreclosures can likely be found in your own garage:

o Cleaning chemicals (i.e. all purpose cleaner, disinfectant, toilet bowl cleaner, window cleaner)

o Cleaning supplies (broom, mop, scrub pads)

o Vacuum cleaner

o Garbage bags and shovels

o Work gloves and disposable plastic gloves

o Lawn mowers & lawn tools

o Wheelbarrow

For the smaller items you don’t have on hand, check your local dollar store. Their prices can’t be beat and they usually have the same chemicals and cleaning supplies as the other retailers. Once you start doing some volume, consider shopping for your supplies at Sam’s Club or Costco to keep your expenses low.

You can also find used equipment in great shape (such as vacuums) by going around to your local Saturday morning garage/yard sales. If you have a „Re-Use“ center or a Salvation Army, you may consider checking there also as they often have vacuums and other small equipment or yard tools for sale.

For hauling junk, you’ll need some sort of trailer and a vehicle large enough to pull it. If you don’t have a truck and a trailer, you can always borrow a friend’s truck and rent a trailer from U-Haul or just go ahead and rent a moving truck from U-Haul. (Remember though, that you’ll be charged a daily rate plus a per-mile rate when you rent a moving truck whereas if you use your own truck and just rent the pull-trailer, you’ll only incur the daily rental rate for the trailer.)

Sometimes you’ll be required to clean a property that doesn’t have electricity or water. In the event that there’s no electricity, you’ll need a generator to operate the vacuum cleaners and other electrical equipment. These can be rented at Lowe’s or Home Depot and is a much better alternative to purchasing one outright unless you’re going to use it on a regular basis (a new one will run you about $500+).

To save on expenses, it’s best to rent equipment in the beginning.

Once you get up and going, it may be worth looking into purchasing equipment of your own. Check the online classifieds ads (such as Craigslist, Kijiji and Backpage) for used trailers, generators, etc. You should also check with U-Haul as they have been selling some of their excess trucks as of late.

Stay Safe on the Job

As a business owner, you’re responsible for keeping your staff safe while working on the job. Working safely is paramount to the health of your staff and the reputation of your business (and also keeps your insurance premiums low). It’s imperative that you review safety issues prior to allowing anyone to work on the job – you must provide both classroom and on-the-job safety training to all new hires.

Now, it doesn’t have to be anything fancy; you can spend 20 – 30 minutes reviewing safety policies, safe working practices and answering any questions and then you’ll be done! Make sure you have people sign in and out of the meeting and that you document that a safety meeting took place.

It’s also very important that you become familiar with OSHA and Safety Standards as well as the health & safety hazards associated with this industry so that you can keep your staff safe, avoid accidents and costly fines. You can find the OSHA Pocket Guide to Construction Safety (it’s a short and an easy read) at the main website (OSHA DOT gov) by searching for the report name.

Another way to protect your staff and your business is to make sure that you check references before you hire someone. Insist that they list non-related references (i.e. not mother, sister or best friend) and instead list references of previous employers or someone they know in a professional capacity. We also do drug testing and background checks – it might sound paranoid to some, but the safety of our staff, our customers‘ property and our company’s reputation is far too important to risk not spending $20 on a background check or drug test.

Price Your Services Right

In this industry, the lowest price always wins the bid (unless, of course, the lowest bidder has a terrible track record of not completing work and is utterly irresponsible and unprofessional, in which case the company has just committed „reputation-suicide“ and will never be hired again). Lenders don’t want to spend any more than they have to on these properties so you want to make sure you price your services comparable with the going market rates (but at the same time, priced so that you still make a great profit and don’t leave any money on the table).

For cleaning out foreclosures, most banks expect to spend anywhere from $500 – $1500 for a cleanout (trashout, interior clean and initial landscape cleanup), but it could be a bit more or a bit less, depending on your area. It’s important to know that most lenders have prescribed „price caps“ for the maximum amounts that they’ll pay for services.

If you’re also providing preservation services, a great site that we’ve used before to determine our prices for doing repairs is www.CostEstimator.com for getting the market rates for construction costs – you can get a free 30 day trial (no need to enter credit card – it really is free!). There are over 3,000 cost items adjusted for over 210 local, geographic regions to create your bid and you can add as many others as needed. If you want to sign up after the trial, it’s only $15/month.

Market Your Services

It’s true – „nothing happens until somebody sells something“… and you’ll need to get out there and sell, sell, sell your business. Once you’ve done a few jobs, you’ll find that word of mouth advertising and referrals will provide a large pool of new jobs for you, but in the meantime, you do need to do everything possible to let customers know you exist.

A large portion of work will come from the relationships that you build with Real Estate Agents („Realtors“) who list bank-owned homes (often referred to as REO listings). They are often given the task of bidding out the cleaning and repairs of new listings by the asset management company so you’ll want to make sure the agents in your area know your company handles this type of work.

A great way to find out which Realtors in your area list REOs is to go online to the major bank’s REO websites and „data mine“ the contact information for the listing agents (name, email, phone numbers). It can be painstaking work, but definitely worth it.

Here’s an example of a bank REO sites to get you started collecting Realtor information

WELLS FARGO (Properties managed by Premier Asset Services): pasreo.com/pasreo/images/pas_logo.jpg

NOTE: In order to access agent information, select the state and click search. Then, individually select each listing and click on „Print Property Report CVS“. Each listing and corresponding information (such as agent name, phone # and email) will be created in an Excel spreadsheet. You can access the page

Remember to follow up with a phone call a few days later. Don’t be shy about asking the Realtor if he/she has any jobs for you to bid, either – most of them are very accommodating and willing to give a new company the opportunity to provide estimates.

The other way jobs are bid out is through large Asset Management Companies (also referred to as Marketing & Management Companies, REO Field Service Companies and Property Management Companies). Essentially, the lender says, „ok – I have thousands of properties to get rid of. Here, national ABC Asset Management Company: clean, fix and sell these properties for us“. And the national Asset Management Company will then subcontract out the work to local foreclosure cleanup and property preservation companies. In order to work for these companies, you usually need to sign up your company as a potential vendor. Many times this can be done online.

There are both positives and negatives associated with working for the larger companies. On the positive side, you will probably be given a few projects to work on at a time so you will be kept relatively busy. On the negative side, they usually want you to offer ‚wholesale pricing‘ and don’t pay until 30 – 60 days after you invoice them for the work. Working for one of these companies, however, will give you the experience you need to go after more work.

Other possible customers include wholesale property investors (groups of investors that purchase foreclosed homes at the auctions and then sell them to smaller investors at a wholesale price), investors, landlords, property management companies, Realtors and so on.

You should also consider attending your local networking events such as the Chamber of Commerce meetings and any local investor meetings in order to hand out your card and network with potential customers. The more you get out there, the better chance you’ll have of securing some great, long-term customers!

This is definitely an exciting industry and a very profitable one for those of you who don’t mind getting your hands a bit dirty! Good luck!

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Les Tyler

You Can Be a Cruise Ship Owner Even If You Are Not Rich

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

Unlike fractional ownership of aircraft and houseboats, fractional owners of a cruise ship can all use the ship simultaneously. There is plenty of room for you and the other owners to live on the ship any time you want, or all the time. You can use it as a full-time residence, and so can the other co-owners.

The first obvious benefit of shared ownership is acquisition cost. There are many cruise ships on the market in all price ranges, sizes, ages, and conditions. There are many smaller and older cruise ships available for less than one million dollars. At the lower end, some smaller cruise ships in fair condition can be acquired for about $250,000. At the highest end, the biggest new mega cruise ships now cost about $500 million to build.

Do the math. If one hundred buyers pool resources in exchange for a percentage of ship ownership, the acquisition cost will be divided by that same number. One percent ownership of a $250,000 cruise ship would cost a mere $2500 for ship acquisition. At the other end of the scale, one percent ownership of a brand new mega cruise ship would cost five million dollars.

There are some other figures that must be tabulated into the total cost of ownership. Acquisition cost is first and foremost. The next figure is the cost to put the ship in service. On an older ship this cost may be higher than the acquisition cost. On the other hand, the cost to put a ship into service can be much lower if you were to get a good deal on a ship that already meets the international standards for ship safety, especially SOLAS (Safety of Life at Sea). Maintaining compliance with Chapter II SOLAS 74 amendments is cost prohibitive for some older ships and they are typically scrapped instead of being refurbished at great expense. There is a very important SOLAS implementation date coming up on January 10, 2010. On that date all commercial international ships will be required to be in compliance with the new fire safety codes. The most important new codes deal with the use of combustible materials in the ship. It will be expensive to replace all combustible materials in ships with non-combustible or flame resistant SOLAS compliant materials that meet the new safety standards. This will result in many ships being sold for scrap metal.

The looming SOLAS 2010 implementation date offers both perils and opportunities. The biggest peril is the possibility that the expense to bring a ship into full compliance with international standards will be greater than the value of the ship. However, there is a silver lining in this cloud. This pending SOLAS implementation date has already started to show up as a primary factor in the asking and selling prices of ships on the market today.

SOLAS 2010 also offers a tremendous opportunity for those who may prefer to have a very large houseboat instead of a commercial ship. Ships that are not in compliance with SOLAS 2010 are now selling for a song (inexpensively). A cruise ship can easily be converted into a megayacht with the stroke of a pen. Privately owned yachts, not in commercial service, and not carrying passengers or cargo for hire are exempt from many of the SOLAS requirements. Operating costs are also lower for a private yacht. It cost less to register, flag, and insure a private yacht. Megayachts can be flagged and classified for unlimited service. That means that a megayacht can go practically anywhere you want it to go. There is one major drawback to registering a cruise ship as a private yacht. You cannot use the yacht commercially. This cuts off a potential revenue source.

There are many decent cruise ships for sale at prices of less than one million dollars that would make good private megayachts. For example, take the ‚VERGINA SKY‘ is a ship that I have personally inspected and so I can talk first hand about it. The asking price was $750,000. Here are the specifics of the ship in a nutshell:

Current Name: Vergina Sky

Ship Details: Built: 1971 in Japan – totally rebuilt 1992 in Greece

Dimensions: LOA 97.8m x LBP 82m x beam 14.6m x draft 4.49m Dwt: 500 on 4,49 GT/NT: 4,668 / 1,717

Description: Pielstick 2 x 8400bhp, twin screw, bow thruster, 3 x 500kw generators, 16 knots, 2 saloons, restaurant, 3 bars, casino, duty free shop, disco, swimming pool, 120 cabins for 318 guests. Lying Greece

My Comments after inspecting the ship

This is a well built little ‚Pocket Cruiser.‘ At just over 320′ in length overall, it is a small cruise ship. Many experienced cruise passengers prefer smaller more intimate cruise ships for a variety of reasons. This ship can go places where the big cruise ships cannot reach, such as shallow draft ports and even many rivers. It has an omni-directional bow thruster and can turn on a dime (relatively speaking of course). I have carefully examined this ship from the engine log to the ultrasound hull report. This is a sound and safe little cruise ship. It is also a very fuel efficient and economical ship. My first time on this ship was in the middle of the summer in Greece when it was very hot outside. The ship is fully air conditioned and it was cool and comfortable inside the ship. I checked the engine room to see how many generators were running. I am happy to report that all the electric and air-conditioning requirements can be met by running just one of the three Daihatsu generators. These generators are very economical to operate in terms of fuel consumption and maintenance.

I was able to negotiate with the owner, John Kosmas and get some concessions. I got the price down to $500,000. And at that price, he agreed to bring the ship into compliance with SOLAS 2005 and also to include new paint topside. The ship was fairly well furnished even including bed linen, but the ship had been laid up for years. Its most recent service was in the Mediterranean and Black Seas. Cruise ships that trade exclusively in the Mediterranean and Black Seas tend to have smaller cabins and fewer amenities than the typical cruise ships that frequent the Caribbean. The bottom line is that this ship was an economy model, not a luxury model. When I was inspecting the engine room, I asked for the engine log. When I opened it I noticed all the entries were in Greek. I was able to discern some dates and other data that told me when the ship was last in service, but I could not read the Greek entries so I handed the engine log back to the ship owner, and told him „It’s all Greek to me.“ Being Greek, Mr. Kosmas failed to find the humor in that.

Let’s look at the numbers on this ship. 100% of the acquisition cost would have been $500,000. 1% thus = $5000. One hundred buyers could own one percent each. There are 120 cabins so each co-owner could have a private cabin with 20 cabins left over. However, these cabins are a bit on the small side. Every cabin does have a bath and shower, but the size is just too small to be comfortable for most people, especially if the owners intend to live onboard full time. On a ship this size I would recommend that there be no more than 60 joint owners so each can have two cabins and will have the option of converting those two cabins into a two room suite. To keep the numbers simple lets say that this ship has 50 buyers who each buy 2% of the ship. Buy in cost per owner would then be $10,000. If there were only ten buyers, then the acquisition cost per buyer would be $50,000. $50,000 will not buy much of a house on land, but on this ship it would buy 10% of a ship like the Vergina Sky and twelve cabins that could be converted into a fairly large home.

At the economy end of the scale, a co owner could buy 1% of an economical cruise ship for about $5000. However it is not necessary for all co owners to have equal shares in the ship. Ownership can easily be divided up into 1% increments. If one buyer wanted 5%, then his cost of acquisition would be $25,000. He would be entitled to 5% of the ship’s cabins, and would have five votes on operations and management of the ship, such as itinerary planning.

Before becoming a joint owner, it would be imperative to find other people who have similar goals. I would suggest composing a preliminary DCCR (DECLARATION OF

COVENANTS, CONDITIONS AND RESTRICTIONS). You can do this before you even shop for a ship. Write your version of how you envision the shared ownership of a cruise ship as it should be. Then see if you can find some people who agree with your goals and your DCCR, subject to some revisions and concessions to accommodate other joint owners.

Step One: Determine if you and your family have the desire and financial capability to become joint cruise ship (or megayacht) owners.

Step Two: Find others who agree with your concept for shared ownership of a ship.

Step Three: Shop for a ship. This is the fun part.

Step Four: Buy a ship.

Step Five: Put the ship into service.

Even if you are not rich, you can afford to jointly own a cruise ship. But then comes the next logical question: Why would you or anyone want to live on a cruise ship? Who would this be suitable for?

If you are retired or otherwise have a stable income from a dependable source you probably can afford to be a cruise ship co-owner and live full-time onboard a cruise ship. If you work in a field where you can work from home online, then you too can probably afford to become a co-owner of a cruise ship. Most modern ships have satellite Internet service available 24-7.

Operating a cruise ship is expensive. The expenses include the cost of fuel, labor, maintenance, repairs, spares, food, port charges, insurance, technical management, shore management, registration, and the other costs of operating the ship. At first glance these costs may seem expensive, but in reality the cost of living at sea is actually a bargain considering what you get based upon what you pay. The best value does not always translate to the cheapest price. If the ship is well managed, the management will seek the highest quality goods, services, and labor at the very best global value. If the owners are dissatisfied with either technical or shore management, they replace them.

If there are many other co-owners of the ship to split the operating expenses of the ship, it can be affordable for those with a moderate level of income, such as a retirement check. I do have specific operating cost figures but I won’t bore you with that data. The bottom line is that it would not be prohibitively expensive for a middle-class average person to be able to afford to own a fraction of a cruise ship and be able to afford to live on the cruise ship full-time if they elect to do so.

For comparison purposes it is noteworthy that you have expenses in land based housing too. Those expenses include property taxes, homeowners insurance, maintenance and repairs, yard care, and utilities. Additionally you have transportation costs and of course food costs. Most people also spend money on entertainment too. When these expenses are added up the maintenance fees for living aboard a ship are comparable.

There are actually some savings resulting from living aboard a ship. The ship’s executive chef buys food and kitchen supplies in bulk for the ship and can get better prices than the average shopper. Other savings result from the large freezers and the mobility of the ship giving the food service management the ability to stock up on supplies in countries where prices are low. Some crew and owners may choose to fish for leisure. This can supply some fresh food at even lower costs to the owners. Labor savings are realized when the crew is hired based upon the best global labor rates. The laws of supply and demand drive prices down in some places in the world. Proper ship management can capitalize on these disparities. All the savings would be passed on to the cabin owners resulting in an economical cost of living similar to what you could expect to spend with a conventional home. Ship management should have accounting transparency will all books (financial records) open and available for any owner to inspect. Also ship management should submit all financial records quarterly to an outside auditor for the peace of mind of the owners. Anybody in the chain who spends any of the ship’s operational funds should also be periodically audited. For example, a good way to audit the executive chef would be for one or more of the live-aboard co-owners of the ship to go to the food market district of each port of call and they should try to haggle and get a better price for the same food than the price the executive chef was able to acquire. If the executive chef cannot find better deals than the ship’s co-owners, then the executive chef should be given his walking papers. The executive chef position is a vital position on a cruise ship. This is a position of trust because he will bill the food he buys to the ship. He must never be tempted to accept bribes from vendors or suppliers. Therefore, he should know that he will be routinely audited and any substandard performance will result in termination of his employment.

The biggest value of all onboard cruise ship is in labor costs. The better cruise ships tend to be labor intensive, providing passengers with unrelenting attention and extravagant pampering. The hotel staff on all cruise ships provides the basic services including food preparation and serving, laundry, cabin stewarding, entertainment, casino operation, beauty shop operations, This is one area where I would prefer to not scrimp because of the very good value in these services due to the low cost of international labor. I would prefer to go beyond the level that most cruise ships go in the area of spas. Land based luxury and specialty resort spas are very expensive, but the exact same level of service, professionalism, skill, and treatments can be provided on a cruise ship at extremely low cost. Labor is the key and the primary reason for most of the expense of spas. Labor is a tremendous value on a cruise ship because the cruise ship managers can choose workers from the global marketplace where it is easy to get the best value for the money.

Spas

Spa treatment is customized for each client. Spas commonly offer services such as:

Soothing massage therapies, skin and body treatments drawing from European and Eastern principles, expert hair and nail services, and a full menu of therapeutic treatments utilizing a deep-cleansing facial at the start of the program, as well as a series of detoxification and contouring wraps, lypo-reduction wrap, as well as marine mud and herb wraps. Massage Therapies including: Swedish Massage, Shiatsu Massage, Deep Tissue Treatment, Maternity Massage, Therapeutic Foot Massage (Reflexology), French Hydrotherapy Massage.

The healing therapies include a variety of massages, reflexology, facials, firming and many other body treatments. Plus a wide variety of services and wellness programs specially designed to meet the individual’s needs and desires. A full service salon offers all manner of hair treatments (including a certified colorist), as well as a variety of manicures, pedicures, and ‚facelifts‘ for your hands. Extensive skin care includes: Age Management Therapies including, Glycolic Facial, Anti-Aging Facial Peel, Microdermabrasion; Facials including: Aromaplasty Facial, Teen Facial, Gentleman’s Facial, Nutrisource Facial, Regulating Acne Facial, Vitamin „C“ Skin Renewal Facial; Body Treatments including: Decleor Sauna Mask, French Hydrotherapy Massage, Andromeda Salt Glow, Mummy Mud Mask, Seaweed Body Wrap, Safe Sun Treatment, Herbal Wrap; as well as various hair and nail treatments.

Additionally, spas also can facilitate weight reduction programs, and even administer physical therapy. In short, you can be treated like a king, on the budget of a pauper.

Labor Costs – International competition provides the most value to the ship owners.

On paper it seems to make good sense to man the ship with a Philippine crew. I love the Philippines. I have been there several times. English is still widely spoken and usually spoken quite well. The people are usually friendly and happy to see foreign tourists. A large percentage of ships worldwide are manned by crews from the Philippines. The Philippine government has a pretty good structure and system to facilitate the export of Philippine labor. In spite of how attractive it seems on paper, I would recommend NOT hiring a crew from the Philippines. Philippine workers tend to be envious of others, and especially of everybody else’s wages. They tend to think they are getting the raw end of the deal. It is rare to find a Filipino who is happy with his employment. While I am sure there are many good employees from the Philippines, there are more who are dissatisfied than satisfied with their employment. There seems to be a cultural anomaly in the Philippines where people feel that employers are bad guys. I would hesitate to recommend a crew from the Philippines in spite of the apparent advantages on paper.

My recommendation (for what it is worth)

I do know something about what I am writing about here. I am the former President of Adventure Spa Cruise. My advice is not just uninformed ranting. Back to the point now, the second best manning nation for a ship is India. I highly recommend India for the medical staff and the entire hotel staff, including the spa, and every other position except the deck and engineering. The labor costs in India are very attractive. I would also recommend using an Indian based manning agency. It is best if the ship’s owners do not have to deal with every employee issue or concern. The manning agency takes the pressure off the ship’s management, and their service is very reasonable. Indian employees tend to make better employees than do Filipinos. Indians also speak English, albeit not quite as well as Filipinos. I know Americans tend to get all worked up when someone uses a broad brush to paint an entire ethnicity. I love the people from the Philippines, but as employees they tend to be more problematic than do Indian employees. I realize that this statement is politically incorrect, and these days that might get me thrown in jail. I usually do not worry so much about being politically correct. I call it the way I see I and I let the cards fall where they may, and hope I can stay out of jail for speaking my mind.

All deck and engineering positions should be filled with an all Ukrainian crew. The ship will realize the most value for the money with Ukrainian deck and engineering staff. The Ukraine has a long maritime history and tradition. Maritime training and standards in the Ukraine are among the best in the world. Ukrainian deck and engineering staff are as good as or better than any other, but the cost of their labor is a very good value. The labor for deck officer and engineering staff are governed by international agreements, including STCW (Standards of Training, Certification and Watchkeeping for Seafarers).

Putting a cruise ship into service

After acquiring the ship, it will require some more investment to put it into service. At this point the joint owners will need to reach some agreements on many points. The cost of putting a cruise ship into service as a megayacht (very large private yacht) is much less than putting the ship into commercial service. However, if you can afford to buy a ship can easily meet SOLAS 2010 requirements, and can afford to flag and register it as a commercial ship then you can use the ship commercially to produce income and ROI (return on investment).

There are many marketing options for a commercial cruise ship. If the owners use no more than half the cabins, then that will leave sufficient means to produce enough revenue to at least pay for operating costs, and possibly produce a profit above operating costs. I will just briefly touch on some of the options available for marketing cruise ship capacity.

1. Conventional cruises. There is a trade-off here. You can produce revenue by providing conventional cruises. This will require that the ship have an itinerary that suits the commercial cruising market.

2. Freight and cargo. Some cruise ships have enough cargo capacity to produce some revenue by booking freight.

3. Assisted living. A cruise ship is well suited for assisted living, including crew and facilities. The going rate for assisted living in the average city in America is higher than the average cost of a cruise of the same duration.

4. Timeshares. This is an option not available to conventional cruise ship operators but could be facilitated if your co-owners agree to this type of marketing to fill cabins not used by co-owners. I will not go into the figures here, but timeshares tend to be high profit sales. There is a good chance that if the joint owners use no more than half the ship’s cabins for their own personal use, the remaining cabins could easily produce more than the total amount all the joint owners combined have invested.

Ships that would easily meet SOLAS 2010 tend to cost a bit more money to buy up front, and cost more to put into service. So I will give you couple of examples.

The Orient Venus is one of my favorite high-end ships. The specs:

M/V ORIENT VENUS

BUILT: JULY 1990 AT I.H.I.TOKYO

JAPANESE FLAG

JG. NK OCEAN GOING

GRT: 21,884 TONS

DWT: 4,863 TONS ON 6.50 M

LOA x B x D : 174.0×24.0x8.7 M

M/ENG: DIESEL UNITED-12PC2-6V x 2 SETS ,

TWIN SCREW CPP

SPEED: SERVICE ABT21.0 KNOTS / ABT 56.70MT /D

FUEL TANKS CAPA: IFO 1,500.4 M3 /MDO 87.30M3

GENERATOR: 1,600KWxAC450Vx60HZx 3 SETS

ENGINE ROOM M0 SYSTEMS

CRUISING RANGE: ABT 7,000MILE

PASSENGERS: MAX 606 PERSONS

CREW: 120 PERSONS

ABA WOG

DELIVERY: BY ARRANGEMENT

INSPECTION : KOBE.JAPAN

OWNERS PRICE USD 22 MIL net here

My personal assessment of the Orient Venus

It is a late model and beautiful ship. It has many highly desirable attributes for a residential ship. It is a high end luxury cruise ship with an extraordinarily high tonnage to passenger ratio. This is very important for a residential ship. More living room and more space per passenger is far more essential for a residential ship than for a conventional cruise ship. When passengers are only on a ship for a short time, they can tolerate cramped living quarters, but when they live year-round on a ship, the extra space is quite valuable. The owners have been trying to sell this ship for $22,000,000. That may seem like a high price, but when you divide it by the number of cabins (195) the asking price per cabin is $102,564. This price is in line with what you would expect to pay for a condominium. The last word I got from the owners is that they will sell the ship for $18,000,000 now ($92,307 per cabin). The cabins are all „outside“ cabins and are large. The ship can accommodate 606 passengers and a crew of 120, for a total of 726 people.

Several ship brokers have this ship listed. I usually do not talk to ship brokers. I prefer to talk directly with the ship owners. I am in contact with the owners of the Orient Venus. I could probably get this stunningly beautiful ship for less than $15,000,000 today, and get some concessions and extras thrown in to boot.

Another example of a high end ship that would make do well as a commercial cruise ship, plus accommodate a hundred or so full-time live aboard co-owners is the Dream Princess, originally named Song of Norway.

GRT: 22,945

Max Draft: 6.7 M in sea water

Length: 194 M.

Total No. of Cabins: 538

Total No. Of Beds + Berth: 1280

Outside Cabins: 346

Inside Cabins: 192

Cabins size range: SQ. M: 11 -18.

Main Engines: 4 Wartsila Sulzer – 18,000 HP.

Service Speed: 16 Knots.

Public Rooms:

Main Dinning room – „King & I“- about 500 pax.

South Pacific Lounge about 400 pax.

My Fair Lady Lounge about 500 pax.

Bars- 5

Self Service Restaurant on the swimming pool deck

Large Swimming pool

Disco

Casino

Duty Free Shops

Gym

8 passenger decks

extensive outdoor areas

Ship was redecorated / refurbished extensively during 2005.

The asking price on this ship is $31 million USD. Divide the asking price by the number of cabins and the average cost per cabin would be $57,620. Of course some cabins are better than others so co-owners would have to agree of the shared usage before agreeing to the purchase.

I have some bad news for the ship owners and some good news for you. This ship will not sell for the asking price.

Fuel

Ship fuel is cheaper than automobile fuel for a few reasons. There are no road taxes on ship fuel of course and also it is different fuel. Ships main engines usually run on IFO180 or IFO380. Generator engines tend to be more finicky and commonly require diesel (MDO), which is still cheaper than automotive diesel. IFO 180 and 380 costs much less than MDO, usually about half the price. Ships consume a lot of fuel. So fuel cost is a major concern. I have some suggestions. If I were a co-owner of a ship I would be willing to invest a little more in the ship to increase fuel efficiency, and thus lower operating costs. There are many things that can be done to increase fuel efficiency. I would start with hull resistance. There is a new silicone-based paint from International Paints that when applied to the hull reduces amount of resistance in the water sufficiently to result in a 3 to 5% decrease in fuel consumption. A similar coating for the propellers also has been proven to increase fuel efficiency.

In addition to hull and prop coatings, there is an even more promising way to achieve dramatic fuel savings.

There is a company called Kiteship that has developed and produces kites for racing sailboats. These sailing kites do not require a mast. The kites fly high above the vessel, attached by cable and controlled from the vessel. Dave Culp of Kiteship has done a technical feasibility study on fitting a very large kite onto a conventional cruise ship. This would dramatically reduce fuel consumption. It would convert a fuel guzzler to a „green machine.“ This is tantamount to converting a powerboat into a sail boat. The design of a cruise ship limits the amount of sail that a conventional ship can safely accommodate. A cruise ship lacks the ballast of a sail boat. If used in addition to the main engine(s) the kite will increase fuel efficiency. If the kite is used to pull the ship with the main engines shut down the ship’s speed will be reduced substantially. However, in this case, not only would the ship save IFO (main engine fuel) but also save MDO (generator engine fuel). If the kite were pulling the ship unassisted by the ship’s engines, then the propellers could be used to propel the ship’s generators without firing up the diesel generator engines. Even if the ship were traveling very slowly in the water, the propellers would turn in reverse if freed from the main engines. This is a very simple and easy task for the ship’s engineer to accomplish. In other words, the ship can be pulled by the kite, and that motion will push the ship’s propellers providing power to produce electricity and power the air-conditioning without using any fuel. The trade-off is a loss of speed and also some tacking is required, further reducing actual speed. What’s the rush? Why not go for maximum fuel savings? The salient point is that a high flying large kite can pull a cruise ship. If I were a co-owner of a cruise ship I would hope to find like minded co-owners who would be receptive to using such state-of-the-art technologies to save fuel.

There are hundreds of cruise ships on the market but I will just mention one more here. This cruise ship has RO/RO (Roll-On, Roll-Off) capability. This would be very convenient for live aboard owners who want to bring their „toys“ with them. The garage deck will accommodate 6 to 8 trucks, or 60 to 80 cars. That converts to a lot of co-owner toys such as motorhomes, travel trailers, campers, cabin cruisers, ski boats, jet skis, sailboats, houseboats, bass boats, motorcycles, ATVs, cars, and trucks.

Specifications:

650 PASSENGER CRUISE SHIP FOR SALE

VESSEL IS FULLY FITTED WITH SPRINKLERS

SOLAS 2005/2010 FITTED

TWIN SCREW CRUISE

VESSEL DIMENSIONS LOA 137.10 X BREADTH 21.00 X 5.8 METERS DRAFT

BUILT 1981 / POLAND

REBUILT 1991

REBUILT – UPGRADED 1999

REBUILT – RENOVATED – REFURBISHED 2002

CLASS R.S. ICE CLASS L2

GRT 12637

PASSENGERS 650 IN 230 CABINS (BASIS 3 BERTH OCCUPANCY)

ALL CABINS WITH PRIVATE FACILITIES (INCLUDING SUITES AND SEMI SUITES)

9 DECKS

HELICOPTER PAD

MAIN ENGINES SULZER 4 X 4,350 BHP

SPEED ABOUT 17.5 / 15 KNOTS ON ABOUT 45 / 36 M/TONS + 9 TONS DIESEL OIL

BOWTHRUSTER 800 BHP

STABILIZERS

120 TONS PER DAY WATER MAKER

RECEPTION

LOUNGE

RESTAURANT (420 SEATS)

NINE BARS

CASINO

DUTY FREE SHOP

CHILDREN’S PLAY ROOM – TWO DISCOS

TV/MOVIE CORNER

DUTY FREE SHOPS

HAIRDRESSING SHOP

JACUZZI

ONE PASSENGER ELEVATOR

LAUNDRY SPA & HEALTH CLUB

TWO SAUNAS

CLINIC

TWO SWIMMING POOLS (ADULT & CHILDREN)

Cost per cabin based on asking price, $71,739. This ship will sell for less than asking price. It is already SOLAS 2010 compliant. It would cost very little to put into commercial service.

Conclusion

Becoming a co-owner of a cruise ship is not a far fetched idea. It is practical and feasible if you are able to find like minded people who would be willing to share the expenses.

Immobilienmakler Heidelberg

Makler Heidelberg


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Source by Arthur Wyss

How To Be An Expired Listings Guru (Note: This Is 100% Legal)

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

The biggest mistake you can make in real estate sales is overlooking the ripest fruit.

Where is the ripest fruit in real estate sales?

Here is the list of the easiest targets for your quality, professional real estate brokerage services:

In order of COLD TO HOT prospects:

9. People hiding under random targets (cold calling, door knocking)

8. People you know (your „sphere“) (just slightly better than random)

7. People who have listed property with a competing real estate broker

6. People who promise someone they will list their property

5. People who promise you they will list their property soon

4. People who have listed, and are currently dissatisfied with their broker

3. People who, today, will drop their current broker and might look for a new one

2. People who promised to give you the listing

And the NUMBER ONE HOT PROSPECT is sort of almost a client already:

1. People who signed a listing agreement with you that is post-dated for the day their current listing agreement expires

I am sure this list could be fortified in many ways. In some of my writings on my website I let you know about some more prospects and how to get them. But for right now I want to let you in on a little-known secret.

This secret is information that most real estate salespeople would pay a lot of money to get, and I will give it to you free here.

The way to get this information is to log into the MLS system of your choice (Rappatoni, MLX, e.g.) and search the database for listings which expire within two weeks. NOT EXPIRING TODAY. That is too late.

Then, contact those sellers with a very plainly stated letter which says in BOLD CAPS: this is not a solicitation to list your property during the present time, but in the future, when NO OTHER LISTING MIGHT EXIST on your property.

Include a statement a listing agreement. Why? Because your sellers may be interested in selling their property still, if their current broker does not hold up.

Make sure you POSTDATE the listing agreement and put it in the envelope.

OK, the big question is….

…Is this ethical? Absolutely. Here is why.

From the REALTOR® Code of Ethics : Standard of Practice 16-4: REALTORS® shall not solicit a listing which is currently listed exclusively with another broker. However, if the listing broker, when asked by the REALTOR®, refuses to disclose the expiration date and nature of such listing; i.e., an exclusive right to sell, an exclusive agency, open listing, or other form of contractual agreement between the listing broker and the client, the REALTOR® may contact the owner to secure such information and may discuss the terms upon which the REALTOR® might take a future listing or, alternatively, may take a listing to become effective upon expiration of any existing exclusive listing…. – Emphasis mine

This practice is known as the Postdated Listing. It is a real contract, but its effective date is after the expiration of the current exclusive listing.

Now, there may be a problem with exclusive listings broker in this case. The broker may say, „You found my listing through the MLS and that is unethical.“ You tell that broker, „The unethical thing is for you to take a listing which is not selling. I am not protruding into your listing agreement. You may sign another, postdated listing or get the listing extended. I am not prohibiting you to do that. And if you have done a good job, your client will sign again. But let’s let the seller decide.“

Be professional, be polite, be a business person. But be competitive. Don’t sit back and wait for the expiration of the listing, or you may find that one of your competitors had the same idea but took action, and that seller will put a new sign up the very next day after the active listing expires…. And you would be too late.

Enjoy this sales tactic, and think through it properly. Also beware that you may make some enemies using this technique. But the only competitor that everyone likes is the one who lays on the ground and does nothing to challenge your business.

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Brooks Hanes

Tax Lien Investing – What is a Redeemable Deed and How Does it Differ From a Tax Lien?

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

Most investors know the difference between a tax lien and tax deed. They understand that when they purchase a lien they are not buying the property, but paying the taxes on a tax delinquent property and putting a lien on the property so that if the property owner doesn’t pay the amount of the lien plus interest and penalties, in a given amount of time (the redemption period) they can foreclose on the property. And they understand that when they go to a tax deed sale and purchase a tax deed, they are actually purchasing the property. But many would be tax investors do not understand what a redeemable deed is and how it differs from a lien.

What Is a Redeemable Tax Deed?

A redeemable tax deed is something in between a lien and a deed. When you go to a redeemable tax deed sale, you are actually purchasing the deed to the property. If you are the successful bidder, you will receive a deed to the property. That deed, however, is encumbered for a period of time known as the redemption period (not to be confused with the redemption period for liens). The owner can redeem the property by paying the amount that was bid for the deed at the tax sale plus a hefty penalty. If the deed is not redeemed during the redemption period then the previous owner is barred from redeeming the property and the tax deed holder is the owner of record and the legal owner of the property.

Which is Better, Redeemable Deeds or Tax Liens?

A redeemable tax deed is very similar to tax liens, but there are some important differences that I believe make redeemable deeds a better deal for the investor. I will point out that every redeemable state treats these deeds differently. In some states, like Texas for example, when you purchase a redeemable deed you are considered the legal owner of the property and can evict anyone who may be in the property once you record the deed. The previous owner has redemption rights, but is no longer considered the rightful owner of the property. But in Georgia, which is another popular redeemable deed state, when you purchase a deed you are not the legal owner of the property until the redemption period is over and you foreclose on the property. In Georgia you must foreclose the redeemable deed much like you would a lien in order to take ownership of the property.

But in both states and in most other redeemable deed states, in order to redeem the deed, the owner must pay the investor what they bid at the tax sale plus a hefty penalty, not interest. What this means is that if you purchase a redeemable tax deed and it redeems a few days after you record the deed you still get the full penalty amount. You make the same interest on your money if it redeems in 2 weeks or 2 years. A penalty is not annualized like an interest payment would be.

What are the Drawbacks to Investing in Redeemable Deeds as Apposed to Tax Liens?

The problem with investing in redeemable deeds is that there are only 5 states that sell them and none of these states have online tax sales, so you have to show up for the auction in order to participate in the sale. The 5 states that do sell redeemable tax deeds are Connecticut, Georgia, Hawaii, Tennessee, and Texas. To find out more about Tax Lien and Tax Deed investing go to http://www.TaxLienInvestingBasics.com and get your free special report on the 7 Steps to Building Your Profitable Tax Lien Portfolio.

Immobilienmakler Heidelberg

Makler Heidelberg


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Source by Joanne Musa

How to Start a Home Photography Business in North Carolina

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

After years of pursuing photography as an avid amateur photographer, I decided to finally take the plunge and become a professional. I already owned all the necessary camera bodies, lenses, flashes and other assorted equipment, and having my own business meant future photography purchases would be tax-deductible. A smart decision, right?

The short answer, for me at least, was „yes.“ The long answer, however, was, „It depends on how much time you want to spend running around and researching the requirements.“

Fortunately for you, I’ve done it already in North Carolina and am willing to share the results (for this state, at least!).

For the purposes of this article, I’m assuming the following things are true:

1. You will be operating this business in the state of North Carolina.

2. You already have the photography expertise to qualify as a professional photographer (that’s another article all by itself).

3. You’ve done the necessary research to determine whether you have the time, energy, potential customer base, and business plan to ensure your new venture succeeds (again, this topic is another article on its own).

The first step was determining what kind of business entity to be. After doing much research online, I was a bit confused, until a CPA explained it to me: there is a difference between your LEGAL status and your TAX status. She recommended that my photography business be an LLC (limited liability company), but file taxes as a sole proprietor.

As with all the different options, there are positives and negatives to each option. LLC status would protect me from personal liability in the event of a lawsuit, which was important to me. The paperwork is very easy to prepare and submit, which is also good because I wanted to take care of everything myself.

Filing taxes as a sole proprietor would be very simple: just attach a Schedule C to my personal tax return each year. Although this filing status is easy enough, sole proprietors pay a slightly higher tax rate than S-Corporations.

Filing as an S-Corp, however, means more paperwork and filing quarterly taxes instead of a Schedule C with my annual return. I wasn’t interested in that much paperwork, so sole proprietor status is fine with me. If and when my business starts making so much money that I’m interested in a lower tax rate, I can always change my status to an S-Corp.

Now that I’ve determined my legal status and tax status, I had to file for my LLC with the state of North Carolina. This involves sending a check for $125 to the Secretary of State, along with Articles of Organization, which can be downloaded and filled out from their web page.

It takes about 7-10 days for your status to come back confirmed, although if you include a note and your e-mail address, they will e-mail it to you which will save a few days.

The state of North Carolina considers photographers to be one of those lucky professions that require a State Privilege License. This is an annual license granted to the person, not the business, so if you end up working for a different photography business in the future, you don’t need to get a second license that year. A privilege license is $200, from the North Carolina Revenue Office. This must be done in person, but the Revenue Department has offices all over the state, so there’s probably one in a city near you.

While I was there, I also received a State Tax ID. This is (fortunately) free, and it will come in handy because armed with this important number, I will no longer need to pay sales tax when purchasing items for my business (assuming I’m purchasing from a North Carolina vendor; obviously you don’t pay sales tax at all when purchasing from an out-of-state vendor, such as when I buy lenses online).

The friendly and helpful NC revenue employee explained to me that two forms will need to be mailed into the NC Revenue Office each quarter. One is a form explaining what your revenues for the quarter were and how much tax you charged your clients. You will need to include a check for the tax amount. The other form shows what equipment you purchased for your business that quarter and didn’t pay tax on. You will need to include a check for 1% of the total (hey, at least it’s lower than paying the full retail tax on your purchases). This includes everything from cameras and lenses to printers, computers, paper, ink cartridges, etc.

Charging my clients sales tax is a bit confusing in North Carolina. The law is not clear, and lawsuits that have been argued in state court have conflicting results. It appears that you do not need to charge sales tax on services such as session fees, UNLESS the client ends up purchasing prints from the session. Of course you always hope and assume the client will purchase prints, but you never know for sure. To be safe, you should go ahead and charge them sales tax on the session fees up front, assuming they will buy prints.

You always need to charge sales tax for tangible goods sold. So any prints, albums, or other products that you sell to your clients must always include sales tax.

The tax rate that applies depends on where the client took possession of the goods. If the client lives in Gaston County and asks me to mail her the prints, the Gaston County rate applies. If the bride decides to swing by my house in Charlotte to pick them up personally, the Mecklenburg County rate applies.

Tax was by far the most complicated part of the business-formation process. Fortunately the employees at the NC revenue office were very helpful, and gave me several „cheat sheets,“ sample forms, and (best of all) their phone numbers for me to call with questions.

If you want your NC State Tax ID to be in your business‘ name, instead of your own name, you will need a Employer Identification Number from the IRS. I was initially confused by this, because I wasn’t planning on employing anyone other than myself, but as it turns out, the Employer Identification Number has nothing to do with employing anyone. Luckily it was free and handled easily over the phone while I waited in the lobby of the state revenue office.

Now there’s the matter of where you live. I’m a resident of Charlotte, so I’m in Mecklenburg County. Fortunately, Mecklenburg County recognizes the State Privilege License, so I wasn’t required to get an additional County business license.

I was, however, required to get a Customary Home Occupation Permit from the Zoning Office. This is a one-time permit that allows me to work from home. This is a lifetime permit; however, it only applies to this particular address. If I decided to move to a different house in a few years, I will have to get a new permit. It cost $125.

Next, I needed a business checking account. I went straight to Wachovia, since they already handle our personal bank accounts and I wanted everything in one place for convenience. Wachovia needed copies of my privilege license, my EIN, and my state tax ID, as well as the normal documents for a new account like my driver’s license. In about a week, I had received my check card and checks for the account. This is highly recommended by the CPA I visited, in order to keep business and personal expenses separate.

The final thing I needed was business insurance. This is recommended in addition to any homeowner or umbrella liability coverage you may already have. It’s not too expensive (less than $200 per year) so go ahead and get it. Any insurance agent will be able to go over the options with you. Business insurance will not only cover your equipment in the event any of those expensive lenses or cameras get damaged, but will also help in case a guest trips over one of your lightstands at a wedding, for example.

A few side notes: if your business is an LLC, you are legally required to have the initials „LLC“ or the words „Limited Liability Company“ in your business name. This makes it clear to all customers and potential customers that you are an LLC. Also, if you do not keep your business and personal expenses separate, you lose the protection of an LLC (meaning your personal assets are vulnerable in the event of a lawsuit). DO NOT RISK THIS — keep everything well documented and separate!

Best of luck with your new business venture! I recommend visiting the North Carolina State business development website and calling their hotline; they gave me a lot of tips the CPA didn’t mention, and it was free to boot! Fortunately there is a lot of support out there for people starting their own businesses. It’s free, and these people know what they’re talking about — please take advantage of it!

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Source by Elizabeth Morrison

Buying a Flat From an Investor – What You Should Know

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It is a popular concept in Mumbai to purchase Investor flats. Mostly, you find them through the builder himself, after the builder has exhausted the stock in his hands.

What is an investor flat?

An investor flat is one in which an investor draws an agreement with the builder to purchase a given flat at a certain future point of time. In return for this promise, he pays a small token money towards the price of the flat. This agreement happens even before the construction begins. So, the price agreed upon for the flat is also quite less.

Benefits of investor flats to all parties

Investors:

The benefit of this agreement to the investor is the fact that he is able to procure it at a very low rate and needs to make payment only much later.

Builder:

The main benefit for the builder is the cash flow that accrues to him even before commencement of the project. This will ensure smooth execution of the project. Also, he is making sales even before the goods are produced.

Consumer:

It is not any problem to a consumer to buy a flat from an investor. As the agreement will be made with the builder itself (in case purchase is before possession) the agreement will be one of first-sale and not of resale. Depending upon the investors needs, prices become negotiable. Recently, I heard of an investor flat being quoted at nearly Rs 1000 per square feet lesser than that of the builder. Isn’t that great?

Therefore, when you search for new flats, don’t rule out investor flats. They are as good as buying from the builder itself.

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Source by Archana Sarat

Pros and Cons of Rent Back

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

This market has brought several challenges. Sellers who cannot and/or will not move until they know the money is in the bank and title has transferred. Many sellers are requesting to retain possession and/or rent back after close of escrow. Typically up to 30 days. I have seen some who need up to 90 days.

Pro- For seller definitely assures them of money in the bank and the funds to be able to move.

Provides breathing room to pack and locate another home.

Provides more time to clean house per se… that is sell items not needed and/or give to a charitable organization or toss.

Buyer-In a sellers market this could be a clincher in a multiple offer situation.

Buyer can confidently give notice at present location knowing they will have a definite home on such and such a date instead of giving notice when the deal has not been finalized.

Things to consider for both parties… You have now went from Seller/Buyer to Tenant/Landlord… Consideration should be accounted for in escrow for rents. Typically we determine rents on lease back by taking buyers PITI (Principal, Interest, Taxes and Insurance) on their new loan divide by 30 days and have the escrow company withhold amounts as agreed to in purchase contract. All is negotiable. Should be determined in writing prior to close of escrow. Buyer needs to make sure insurance is in effect. Seller should check with their own insurance as to what is covered in this type of transition. Seller is responsible to maintain the property while in their possession. Buyer now becomes responsible for maintenance of the home for any repairs that might be needed. Would suggest a home warranty be obtained to cover unexpected issues that might arise. Murphy’s Law always shows up post sales in one form or fashion. Some frown on lease backs but if done properly will be a tremendous help to both parties.

Can complications occur? Unfortunately yes… sometimes sellers have not made the proper arrangements and feel they can take advantage by staying longer than contractually agreed to, leaves the home in total chaos, does not report broken items etc. Buyers get impatient and want possession sooner.

Escrow instructions should be mutually agreed to, to hold out a little more as a deposit for peace of mind on buyers side.

Both parties insurance company needs to be contacted to insure there is no misunderstandings in the event of a fire and/or other natural hazard that would result in claims.

Have contract or instructions in writing as to details of the leaseback. Remember failure of either party to perform could result in litigation.

Most lease backs perform without issue. Just KNOW your rights whatever side you are on and ALWAYS have instructions or contract in writing to lease back.

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Source by Terry Osburn

Title Companies Vs Real Estate Lawyers

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

Is a real estate lawyer a better choice than a title company when it comes to selling your home? You can choose any one of the two but you should first be aware of the difference between real estate lawyers and title companies. Here is some information about both the entities and whose services can benefit you most.

Real estate lawyers

Real estate lawyers specialize in laws relating to real estate and make sure that your interests as a seller are met in the transaction. These lawyers can act as escrow agents as they can hold your earnest money, down payments as well as help you with the requisite documentation. These attorneys can also help you understand the legalities involved in the sale transaction, the offer made by the buyer and your rights as a seller.

An attorney can also handle a closing in case the lender’s lawyer doesn’t do that. Every real estate lawyer has two most important responsibilities.

• To advise on the documentation process of the transaction

• To represent you at a closing

Besides these two important services, an attorney also negotiates any modifications in the purchase contract that the seller wants to incorporate. Preparing the seller’s deed, another crucial aspect, is also taken care of by the attorney. The attorney you hire will also accompany you on your meeting with the client/buyer at the time of settlement. He/she will also advise you on the tax implications involved in your home or property sale.

Title companies

Title companies are insurance agencies that represent title insurance companies. Such companies insure titles to lenders and buyers by ensuring that a title is free from any encumbrance that can cause financial loss.

The title company assures the buyer that he/she can get his/her title on the home or property with no liens against it. The availability of a title on the particular home/property is made clear and vouched for by a title company. In the process, such an entity protects the rights and interests of both parties in question.

Usually, most title companies insure a closing with the help of a lawyer to fulfill certain requirements. Closings also depend on the area you are living in. Toronto natives can hire the services of a real estate lawyer for sale closings.

Keep the following things in mind when you sell your property:

Title companies can hold the down payment and close your home without additional costs. Also, there is a possibility that title companies may give you a discount on your title insurance if you had previously used their services to either refinance or buy your home or property. Lawyers can also close your home/property sale and hold your down payment but may charge an additional fee.

A lawyer can charge a higher fee to write a contract. In cases of simple transactions, this can complicate negotiations. But in most other property sale transactions, the services of a real estate lawyer can prove invaluable.

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Source by Jonathan R Bailey