4 Steps To Buying Property Below Market Value (BMV)

With increasing marriage break ups and divorce, health problems, financial difficulty, and emigration, the UK’s housing market is on the decline.Many people are stuck in chains and have property on the market for over 7 months before they sell, and when they do eventually sell they are hit with solicitors fees, HIPS fees, Estate Agent fees, not to mention the 7 months or more of mortgage payments they will have to make.This is not a great situation for people currently on the housing market – but for the first time buyer, or no chain buyer this is a great time to buy the property you have always wanted as all offers are being considered.But… for anyone who is facing problems with chains, or financial difficulty… there are ways in which you can sell your house quickly, and with the cash from it, purchase your dream house without all the wait. As a cash buyer the power to buy whatever property you like will be in your hands, at up to 20% below the asking price… and here is how:-1. Forget the Estate Agents
Estate Agents are in the property business for one reason to make money. They don’t want to sell your property as quickly as they can, they want to make as much money from the fees they charge you as they can. So they will inflate the actual value of your house to trick you into believing they are the best company to sell with. Over a period of time when you are getting no viewing, and most importantly no sale they will slowly reduce the estimated market value of your home to a more realistic asking price. By this time you have already paid 4-5 months of mortgage payments and quite willing drop your asking price to sell your property fast.2. Remember no chain and first time buyers get the property they want
To be in a position where you have no property holding you down, with months and months of negotiation, is a great situation to be in, in today’s current market. Property sellers quite willingly will accept offers far below the asking price if the buyer is not in a chain or is a first time buyer with the cash behind them as opposed to someone who is stuck with a house they have to sell before they can move.3. Be realistic about your asking price
Everyone would love to get the price tag that the estate agents put on their properties, but in reality its not always possible because the asking price is highly overvalued to start with. There are many cash buyers and investors who make you an offer to buy your property for as little as 10% below the RIC’S asking price which is not a lot of difference really if you take into mind the costs of selling with an estate agent and all of the mortgage payments.4. Sell, sell, sell!!!
Selling your house fast is relatively easy if you are realistic about the asking price. You need to sell fast to be able to move on, and be in the power position as a cash buyer as previously discussed. This doesn’t mean you have to take a silly offer 20-30% below RIC’S valuation, good property investors will make you an offer 10% below RICS, and you can bank the cash in days and move on to your next dream property… and offer 10-20% below valuation for it as a cash buyer!

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Things to Know When Applying For a Commercial Loan

The market for commercial lending is very large and can be very overwhelming. There are lots of things you should know when applying for a commercial loan and a commercial lender will be able to answer all of your questions in great detail, but it is nice to know what to expect and be ready with the necessary documents before you approach a commercial lender. Here are some questions you may want answered in order to be ready when you apply for a commercial loan:1. What is the purpose of a commercial loan?A commercial loan is basically credit extended to an individual in order to help out their company. The credit can then be used for a range of things, such as expanding your business or as leverage equity in commercial real estate.2. Who is right for commercial lending?Anyone who owns a business or is in the process of starting up a business can apply for a commercial mortgage. But it is important to know that applying for a commercial mortgage is very different than applying for a personal home mortgage. Since commercial loans are not backed by a government entity, most commercial lenders are risk-averse, meaning that those applying for a commercial loan should expect to pay a higher interest rate compared to the rate of a home loan.3. Where and how can you apply for commercial mortgage?Figuring out the type of commercial lender you should work with will depend on the type of loan and the loan amount. For small businesses looking to borrow less than $2,000,000, you will want to contact a direct commercial lender or your local bank. If you work with a local bank, they will be able to work with you on a face-to-face basis to determine the type of loan which is best for your company. However, there are also many non-bank direct commercial lenders that can be found easily on the internet. You may not get the same personal attention from a non-bank commercial lender, but you will have more lenient application terms.4. What will I need in order to apply for a commercial mortgage?Whether you are working with a local bank or a direct commercial lender, you will want to have all your documents in order. You will want to be ready with a clearly written purpose for the loan and an organized breakdown of all your company expenses in order for the lender to be able to determine which loan is best for you. To do this, have all your income statements, profit and loss statements, balance sheets, and statements of cash flow ready when starting the process. You will also want the last two years of both your business and personal tax returns and at least the last two months of paycheck stubs in order to be ready to attach with your application.On top of having all your business documents in order, you may also want to have the information and the necessary documents for what you are using as collateral ready in order to show the commercial lender that you are serious and ready to work with them.You will also want to check your personal credit before applying. This can be done by visiting a free credit report websites such as annualcreditreport.com. A next to flawless credit record is ideal for commercial lending. More often than not, a commercial lender will like for your debt to income ratio to be less than 40%. If your credit report shows blemishes, you may want to go directly to a non-bank commercial lender who might be more willing to work with you.5. How long will it take to get a commercial loan?The typical local bank commercial loan goes through numerous phases during the process and you should expect for it to take several weeks before getting a loan commitment. However, online non-bank commercial lenders generally pre-qualify quicker. Ultimately, if you are organized and read by having all your documents in order, the process of applying for a commercial loan will be speedier and less overwhelming.

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A Successful Home Based Business – Is It Even Feasible?

You would like more family time, your individual schedule, to terminate your boss, to retire your husband or wife, to gain more revenue, to have that Saturday and Sunday off, to sleep in, to take that trip anywhere at any time, to see the kids more, to have several tax benefits and the list could continue. This is what we hear when we pay attention to a growing number of folks that are starting their own home based businesses.Let’s commence with relieving the two key Misconceptions:It’s easy It’s unattainable – it’s virtually all a scamA couple of extremely different sides of the formula although you may have been faced with both of these within your research and you’re probably incredibly wise to already know that both are untrue, but how untrue? Simply, if you are in the correct home based business the training and success program is already in place and all you need do is work it. It’s basic but Easy. A home business is still a business and like any successful company, an individual has to put in the effort. Some successful home based business models are easier than others so make sure that you choose one that has a proven success program to follow and even better, have a Mentor to follow. Uncover a leader that is where you need to be and partner with them.The rumors that are plaguing people’s ignorance that a successful home based business is often a scam is just plain bull crap. Hundreds of thousands of individuals run businesses from home – some full time and quite a few part-time.Successful Home Based Business Tips1. Standard small businesses – including bookkeeping or cleaning where you could earn an income on a linear scale (hours worked = hours paid)2. Residual income opportunities – like several computer home based businesses, where you invest your time up front and leverage your efforts. You earn an income on a residual scale (front load your hours worked = leveraged income and efforts)This method is favoured by most successful business owners including Robert Kiyosaki, Donald Trump and John D. Rockefeller just to name some.Whatever sort of successful home based business you aim for, it’s crucial to appreciate your new venture. Fist figure out how you need to earn income (either linear or residual) then engage in an opportunity that you’re passionate about.Regardless of whether you might be looking to start something full time to earn a primary income, part-time for a second income or maybe you are looking to fire your darn boss, the beneficial news is that it’s possible to start and develop a successful home based business, and our purpose would be to enable you to boost your chances of success.Breaking away from our finance jobs and firing our bosses, we have built a successful home based business and we now really like helping other individuals to do the same. The best method to succeed, in our view, is to copy the success of others.Some things to ask yourself before you can have a successful home based business:

Linear or Leverage Income?
Part Time or Full Time?
Who’s your Mentor?
What’s Your Business Goals?
What’s your Success Plan and Methods?
Are You Building a Long Lasting, Solid Business?
You might be already figuring some things out inside your head right now but hopefully we have helped to open your mind to some possibilities you didn’t know existed. Maybe even make an important distinction to your future! So please take time to send us some comments or questions. Whatever successful home based business you might be examining we would really like to help out in any way we can because this really is a fun journey.

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