| May 17, 2013
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Investing in Real Estate

Now that the real estate recovery is underway, investors are returning to the market in a big way.  While it is easiest for larger corporations and trusts to take advantage of foreclosed properties, falling prices, and low interest rates, a savvy individual can still find ways to invest in real estate.

Rental Properties

The main reason someone buys investment property is to make money on leasing it to a tenant.  While some people prefer to invest in residential houses and condos, others find that purchasing retail or office space and then leasing it to business owners is safer than being a landlord to individuals and families.

Before purchasing a property for investment, buyers need to do their research.  They need to know their own financial situation and the real estate market in their area.  Investors need to look at property values, insurance and crime rates, neighborhood amenities such as schools, hospitals, and parks.  They also need to familiarize themselves with legal and tax requirements associated with such a purchase.

The costs associated with maintaining a investment property can be prohibitive.  Landlords must make mortgage payments and pay property taxes, maintain insurance premiums and pay for any repairs or maintenance required on the property. They may need to have liability insurance for their tenants and pay taxes on the income from the property.  In addition, if the tenants vacate, they have to spend time and money advertising for new tenants and still cover the costs of the property while it is empty.  Tenants can also cause financial and legal problems up to and including the need to initiate eviction proceedings, which are time consuming as well as costly.

Investors can get around these problems by choosing to hire a property manager or management firm.  In those cases all they have to do is choose a reputable manager and pay them to handle the property and tenants.  The owner still retains legal and financial responsibility, but they don’t have the daily stress of managing their investment.

Other Investment Properties

Renting out a property is not the only way to invest in real estate.  Some people choose to join investment groups that purchase, manage, and sell property.  They may or may not have a vote in which properties are purchased and how they are managed or they may simply invest as if buying stock in a company.  Other types of real estate investment include time shares, which entitle owners to limited use of a property, purchasing land to be developed or sold in the future, or buying property to be improved and sold at a profit, known as flipping.

Article provided by Scott Tucker

 

Category: Money |
| May 15, 2013
4 comments

Listening is the Key Element When Handling Customers

Customer complaints are never fun – especially in real estate, but they do not have to be the end of any business relationship especially customer service.  One of the key elements in handling customer complaints, is to ensure that the customer knows that they are being heard.  Great customer service teams will have highly cultivated listening skills.  In some instances, customers will leave frustrated, not voicing their opinions nor their concerns.  But when they do complain, this is actually a good thing, as it gives the team the chance to “make it right”.  This is an opportunity, and when it is thought of in a positive manner such as this, the outcome will too, be a positive one.

yellow signSo, how does one listen to a customer who may be irate and disgruntled?  The answer is to quite simply, listen and listen well.  In the first few sentences, a customer will often times reveal just how to resolve the issue.  They will say what they want, or what they had wanted but felt they did not receive…be it in the form of a service or in the form of sales.  By quietly listening to what they have to say, you will also be giving them the time to vent.  Angry people, need to vent.  Once they have done that, and once you have listened to them, you can begin to formulate a solution that will leave them satisfied.

There are five simple ways to ensure that a customer is aware that you are listening to them.  One is to not interrupt them.  Let them say what they have to say.  The second tip, is to control your own emotions, and do not let yourself get pulled into arguing with them.  Take notes as you are listening, this third tip will help to keep you focused on finding a solution.  In line with not becoming emotionally involved, stay positive.  In this way, although the customers main complaint may not be something that can be “fixed”, you may find other ways to provide a positive outcome by addressing some of their other concerns.  And in the end, the fifth tip is perhaps the most important, and that is to simply remain honest with the customer.   In the end, complaints are just opportunities, and when they are considered as such, a positive outcome is just about guaranteed.  Find more information on finding a customer complaint system

Category: Business | Tags:
| May 13, 2013
One comment

American Idol, Lakers and Star Homes All in Los Angeles

While one of the hottest topics coming out of LA today is the Lakers’ current performance in the NBA finals, this is not the only thing the city has to talk about and while they are certainly grabbing a lot of attention as they try and claim the title again and edge out their historic rivals the Boston Celtics, there is always a lot more going on in this major world city. After all the American Idol competitions take place here and this latest seasons events have recently concluded. Actually, the ended about the same time the Phoenix Suns concluded their basketball season, falling to the Lakers in game six in Phoenix, of all places.

But we’re not talking about the Suns, American Idol or even the Lakers and Celtics series. We’re talking about Los Angeles and all of the other, or at least a few of the incredible events that occur in this city and can easily go unnoticed to the outside world due to the over shadowing nature of some of the major events. So, if they’re not watching a basketball game or attending a major televised premier or event, what are the tourists planning to do as they venture out of their hotel rooms? LA is known for a lot of reasons and just one of them is the amount of movie and television stars that live there.

So, consequently, one of the most common things for many people to do when they visit Los Angeles, aside from going to the beach, or American Idol or a Lakers game, is to buy a star map and take a tour of the city via star homes. The fascination with the rich and famous remains a strong aspect of American culture and as long as it does so, stars homes will frequently have cars driving by them on a regular basis. Interestingly, you’re much more likely to bump into a famous person at Canter’s Deli or a number of other local joints than you are by stalking them out at their homes. And the most you can usually hope to see is a carefully manicure hedge or perhaps a driveway and lawn. But for millions of people, that is incredibly exciting.

Article by www.dazadi.com

Category: Travel | Tags: , ,
| April 29, 2013
One comment

Real Estate and Those Liberal Republicans

As the next election year draws closer, topics on politics and party divisions become more common, heated and stronger. And while this is relatively thematic, it actually detracts from and mitigates the opportunity for dialectic exchange, which is important today, possibly more now than ever before. There is a tremendous amount of importance placed on creating a winning argument and defeating your opponent. While that has its place, it is also contrary to creating a greater understanding of issues and finding new comprehensive answers. Finding a common ground between party divisions sounds like an impossible task, and people have been called traitors or sympathizers simply for suggesting it. However, it’s essential to progress, which is essential to healing this great nation.

But how do we go about having a respectful dialogue, when everyone seems to be so full of blame, anger, fear and resentment? It’s not enough that the economy is in such dire straights, or that we’re about to honor the victims of 9/11 on this 10th anniversary of the tragedy. What do financial sites suggest will help bridge the divide? Well, expert opinions vary, though a thorough understanding of the opponent’s position is essential for many reasons.

One of the easiest ways to gain respect and an understanding of your adversary is to consider the relative nature of politics as well as culture and economic history. This includes the reality that the two main political parties are actually a bit more transient and fluid than most people realize. Most of the uber conservative right wing Republican voter base has no idea that their beloved GOP was once the liberal domain of the poor majority. And even more surprising, to some though not all, is the reality that when the major substantiation of political parties began to take place, their  political philosophies were entirely reversed. Interestingly, they have done an almost complete 90 degree switch in the past century and some odd years.

During the Civil War, the Republican Party came into its existence, and Abraham Lincoln was the first elected Republican president. The party arose from socially progressive minded individuals and former members of the Whigs. It was primarily composed of a poor farmer population from the North, and was formed primarily as a strong response to the Kansas-Nebraska Act. The rich, Confederate, plantation owners from the South composed the Democratic Party and they were against the civil rights, progressive, social service, equal rights for all agenda of the Republicans. In dealing with the economic and political crisis of today, a simple look at money mutual will tell us it’s wise to remember we once stood in the others’ shoes. Let’s try it again.

Category: Politics | Tags: , ,
| April 18, 2013
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Benefits of Going Solar

As it does in many things, California is leading the country in converting homes and businesses to solar energy . This is due in large part to cooperation between the state and utility companies in providing incentives for installing solar panels and solar heating systems. The current California Solar Initiative runs through 2016 and hopes to convert nearly 2000 megawatts of electricity to solar.

The benefits to converting to solar energy in California are numerous. Consulting with California solar companies will help you determine the actual monetary value of your savings, but there are a few general benefits you can expect.

The most important is reduced utility bills. Solar energy dramatically reduces the cost of electricity use. After the cost of the solar installation is paid for, the overall savings can be considerable. Some utility companies have programs that pay you for using solar power.

Tax rebates are the next obvious benefit. California offers different rebates and credits depending on the utility region in which you reside. There are also federal tax credits that can be applied.

Other benefits of solar energy are more altruistic. By installing and maintaining solar panels you increase the demand for green jobs in your community. You also participate in the movement to decrease this country’s reliance on fossil fuels.

Boomer Roberts is a retired mechanic enjoying a second career as a blogger. He regularly contributes articles about home maintenance, such as heating and hvac on sites like www.hybridairusa.com as well as numerous blogs.

Category: Energy | Tags:
| April 5, 2013
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Coffee Shop Must-Haves

Welcome coffee addicts! Not sure if you are an addict? Here are a few questions to help you know for sure. Do you love coffee? Do you start and end each day with a hot steaming cup of Joe? Are you known to drive out of your way for the perfect cup? If you answered yes to any of these questions then congratulations you are on your way to becoming a coffee addict!

We all know that being addicted to coffee can become a very expensive habit . Making frequent trips to the coffee shop can really add up over time. Here are a few small investments that can make your coffee more enjoyable and wallet a little heavier.

Most frequent coffee drinkers have at least one coffee maker in their home; however, what will really set you apart are the coffee accessories.

In the wintertime nothing beats a nice hot cup of espresso. To make your espresso stand out consider investing in a home coffee grinder and roaster. There is no better way to get fresh, rich coffee.

One of best parts of an espresso is the artfully placed foam on top. All you need to start creating your own latte art is a thermometer and a milk-frothing pitcher.

This season is for you so drink up and enjoy!

Category: culture | Tags:
| February 20, 2013
5 comments

Finding Safe Neighborhoods to Live

Choosing a place to live is arguably the most important decision you will ever make. In addition to being convenient for your lifestyle, you have to make sure the neighborhood is safe and relatively free of drug activity. While there is no such thing as a safe bet for avoiding a drug infested neighborhood, there are lots of signs and cues to look for when choosing at home.

central parkLocation, Location, Location

Generally speaking, neighborhoods located near emergency services and affluent areas have relatively few problems with drug related crime. Neighborhoods that have strong community watch programs are also less prone to drug crime.

Another clue that you have found a safe neighborhood is that it is filled with clean, orderly, and well-maintained homes. This is usually an indicator of homeowners to take pride in their neighborhood and their home – something that heavy drug users rarely care about.

Look at businesses, walls, parks, schools, street corners, curbs, and utility boxes around the neighborhood. If they are tagged with multiple graffiti tags, this is a sign of gang presence. Other obvious signs include; bars on the windows, boisterous partying at all hours the night, excessive traffic, and lots of idle young men hanging around.

Statistics

Thanks to the Internet, it is easy to look up a variety of crime statistics on any neighborhood in the country. When researching the crimes, pay attention to drug arrests, assaults, thefts, homicides, and rapes. If there are more than a couple of crimes over a couple years, there may be high drug use in the neighborhood. If crimes have increased in the last few months, this area is likely degrading quickly.

The trouble with drug use is that it will invite other forms of crime to the neighborhood. The biggest problems come from hard street drugs such as methamphetamine, heroin, and crank. Users and dealers of these drugs are often addicted, desperate for money, and care little about the world around them. Excessive drug use in the neighborhood gives addicts an excuse to be in your neighborhood, near your home.

Pay attention to the cues, and research the area before you decide to move in. Remember there is no safe bet, and drug use is everywhere.  The key point is to avoid it being a powerful presence that poses a risk to you and your family!

Delia Vox is a guest blogger who writes about subjects as diverse as real estate, crime, health, and addiction.  Her work can be found on sites such as drugrehabcomparison.com.

Category: Real Estate | Tags: ,
| January 27, 2013
5 comments

Legal Issues of Buying Real Estate

With interest rates at the lowest levels in history, there is great interest in buying property. At 3-4% interest, it is almost like getting free money to buy a home or piece of real estate for a business.

Even though the interest rates are low, the market is not exactly friendly.  After the bailout, lending standards are more stringent.  Banks are loaning less money and being more particular about whom they will finance.

Beyond the mortgage, there are hidden issues to be aware of when buying real estate.

  • Taxes
  • Property Zoning
  • Property to Code
  • Insurance
  • Title
  • Mortgage Terms

Failure to address these ‘other’ aspect of buying property can end up in frustration at the least, loss of property at the worst. We will examine these sticky legal issues one by one:

yellow signTaxes

Property taxes must be calculated into the budget when buying a piece of property. It is also crucial to note when and how the taxes are due. Many lenders calculate and manage property taxes for their clients by including it in the mortgage payment.

Property Zoning

When buying property to build or to have a business, zoning is everything. Zoning how municipalities organize communities. In example, zoning prevents factories from being built inside residential areas. There are levels of zoning that dictate what types of businesses and structures are allowed in which areas. If the plan is to change something about the property, be sure to check into zoning before moving forward with the deal.

Code

Governments regulate how structures may be built. Code ensures a certain level of quality and safety. An inspector should be contracted to evaluate the property to determine if it is to code. Inspectors also help determine whether a property is sound.

Insurance

Applicable to both home and business, property insurance is required when financed and a strong suggestion when owned outright. If something unfortunate happens to the property, insurance will help repair, replace, or cash it out.

Title

Also known as the deed, title is the legal certification of ownership. Titles can also be a real headache because there can be liens on the account that nobody knows about until years down the read. Make sure the title is free and clear and take out title insurance in case a lien holder comes looking for money.

Mortgage Terms

One of the reasons that the financial collapse was so detrimental was because terms of mortgages were confusing and tricky. Some mortgages have obvious risks, such as an Adjustable Rate Mortgage (ARM), so it is important to understand the ins and outs of the mortgage before signing.

Real estate attorneys like those at swlaw.com are good friends when buying property. Ideally, every document needs an attorney’s review prior to signing.

 

Category: Law | Tags: , ,
| January 23, 2013
10 comments

Race Tracks Properties Get Tax Breaks

While most people were worried about how last minute fiscal cliff legislation would affect their paychecks, owners of race tracks around the country were watching to see whether a temporary tax incentive would be renewed. It was.

Unlike football and baseball stadiums which usually receive public funding, building a new auto race track requires private investment.  As an incentive for building these tracks around the country, speedway owners are able to deduct investments in their facilities over seven years, rather than the 15 years required for most facility investments.

Las Vegas Motor SpeedwayThis has caused a lot of consternation in the weeks since the deal was passed in Congress.  Racetracks will be able to write off approximately $78 million in investments more quickly.  At a time when deficeits are at all time highs, this seems almost criminal.

Track owners insist that this is not a new credit.  Owners have been taking the faster deduction for decades, first under an amusement park tax code and now under a specific motorsport tax credit that was added in 2004.  They insist that they still pay the same amount of taxes, just on a different schedule than other owners of commercial property.  Instead of paying even taxes over 15 years for new buildings or improvements/expansions of existing property, they pay lower rates for the first seven years and higher rates for the remaining eight.

In addition, while the tracks receive a break in their federal taxes, they stil contribute to their local economies by paying property taxes and sales tax as well as generating jobs and attracting tourists who want to watch racers like Scott Tucker and Dale Earnhardt Jr compete.

Just as new stadiums for football and baseball have invigorated cities and neighborhoods around the country, the increased audience for motorsports is making the building of racetracks an important part of revitalization and expansion plans for numerous communities.  Making this tax break permanent would be a good incentive for track owners to improve existing tracks and consider investing in new ones.

To learn more about auto racing in the US, follow your favorite racers and teams on pages like http://www.youtube.com/user/RealScottTucker.

Category: Sports, Taxes | Tags: , ,
| November 30, 2012
5 comments

Buying Space for an Auto Repair Shop

Since cars and other types of vehicles continue to be the world’s primary source of transportation, people continue to need the services of a reliable and skilled auto repair shop. Unlike many other businesses, a good auto repair shop is often immune to economic hard times and consumer trends.  Whether you’re an experienced mechanic who’s looking to go into business for themselves or somebody who wants to buy their own auto repair shop, buying the right space is key to your success.

Location and Price

Like any business, finding a good location for your auto repair shop is vital. If the shop is far removed from major roads or is located outside of town, then plenty of people will just go to a garage that’s easier to get to.

Although potential customers may not expect to find an auto repair shop right smack dab in the middle of a major shopping or entertainment district, it’s a good idea to search for a space that’s at least close to other types of businesses. People may be more interested in your services if they can also run errands when they drop off or pick up their vehicle.

Of course, there’s no sense choosing prime real estate if you can’t afford to buy the property or rent it. Depending on your budget, you might have to make some tough decisions in terms of weighing the importance of location versus price. While it’s important to not overextend yourself financially, be certain to remember that a good location will also drive up sales.

In addition, be sure to check with your local government or real estate agent to see what areas allow for auto repair shops. Depending on the neighborhood you’re considering, it may not be zoned for this type of business.

Also, when you’re buying space for an auto repair shop, make sure you understand the terms and rates of your mortgage or lease thoroughly.

Special Considerations

While the location and price of a property are very important aspects to consider, naturally the space will have to accommodate the challenges and needs of an auto repair shop. If it’s not already equipped with garage doors, then the property will have to be renovated. In addition, an auto repair shop requires plenty of room for car lifts and any equipment that’s needed for vehicle related services like changing tires or fixing brakes.

Don’t forget to consider the needs of your customers as well. A space that has a nice reception area for them to wait or plenty of parking spots outside will also help your business grow.

Scott Waters is a columnist and writer who pens a popular blog advising men on everything from real estate to money matters to women.  He also writes on a variety of subjects from sports to art, from travel to cars for webpages like the one found here.

Category: Automotive | Tags: , , ,
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