when you are deeply under huge pressure and your treated with the most cruseal way by sweet, you feel even breating is not possible

heart bip is high, wondring how sweet with react to A if I get one more chance, would finish it this time

somehow sweet can turn to be so brutaly cold heart, you can always wishbthem the best but what about sweet past?

sometimes we hurt eachother w/o knowing how bad this could effect on the other side! you can't be a sweet but this cold

miss like hell! don't know how long I dan hold myself but I am destroyed badly

Rejection again and again but I have been used to it! why sweetname can be this coldheart?

regarless how much you try to push me out of your life, I wont go away, cuz I would always love my sweetname sweetface sweetheart

when a sweetname is ignorant and arrogant, the more you love her, more you get heart! regardless of all disapointment and pain I go through still loving my sweetie is the best I have experienced.

sometimes love can be very very painful, loving a sweetface but cold heart will make you bleed deep inside. Regardless what you do, all your effort goes no where.

loving a sweetface might sound great, but when your entire effort in love goes to nowhere and she is ignoring you in order to hurt you more, you feel the real pain

When you are good with me, I feel I am king of the world, when you are ignoring me I hate this world! only wish you would know how much I love my sweetname sweetheart

My sweetface sweet name finaly showed me some good faith today, after months of being extremely mad at me, now I have gotten this very final chance in order to make things right. Today was my another birthday, my sweetie finally will know how much I love her.❤❤❤

my life is dedicated to this love, you are my life, my breath, my heart bipping and all a human can ask. writing about you, writting to you, makes me happy. Love can make miracle. sweet love can make dream come true.

my everynight is dreaming about you, there is not even one single day/night I can even imagine myself without you! You are the sweetest sweetheart sweetname in history of humankind

While the international millionaire population’s wealth rose past pre-crisis levels in 2010, wealth managers need to prepare as that demographic gradually shifts to younger clients, according to a new report released on Wednesday.




The annual 2011 World Wealth Report, released by Capgemini and Merrill Lynch Global Wealth Management, showed moderate growth in 2010 for high net worth individuals, or investors with $1 million or more in investable assets.

In 2010, the high net worth individual population saw its financial wealth rise to $42.7 trillion, surpassing the pre-crisis high of $40.7 trillion in 2007. The high net worth individual population’s wealth grew by 9.7% in 2010, versus 18.9% in 2009. At the same time, the high net worth individual population grew to 10.9 million in 2010 with 8.3% growth, also down from the 17.1% growth seen in 2009.

Though 2010’s growth was modest, its steadiness made for a “refreshing” change from the market turbulence of the last several years, John Thiel, Bank of America’s head of U.S. wealth management and head of the private banking and investment group said Wednesday. “It’s more the same as usual, and we haven’t had that in a long time,” Thiel said.

North America still tops the list for the highest number of high net worth individuals, with 3.4 million. Asia-Pacific, which had 3.3 million, surpassed Europe, 3.1 million, for the first time. That marked continued growth for the Asia-Pacific region, which surpassed Europe in 2009 for the largest concentration of high net worth individual wealth.

North America also came in first for high net worth individual wealth in 2010, which rose 9.1% to $11.6 trillion. Asia-Pacific came in second with $10.8 trillion, a 12.1% increase from the year before. Europe’s high net worth individual wealth rose by 7.2% to $10.2 trillion.

One key way wealth management firms can work to improve their practices is to brace for the increasing share younger high net worth individuals, ages 45 and under, that will make up more of the millionaire population in years to come, the survey said.

Individuals age 45 and under comprised 17% of the high net worth individual population in 2010, up from 13% in 2008. Asia-Pacific, which has seen its population of entrepreneurs surge, had 41% of its millionaire population represented by those ages 45 and under. North America, by contrast, had just 10% of high net worth individuals in that category, while 68% of its high net worth population was over 55-years-old.

The demographic shift toward younger generations claiming wealth has been slow, changing only about one to two percentage points in recent years, but is expected to undergo a larger shift over time. But because financial advisors lose about 49% of assets under management through generational wealth transfers, they should be prepared with plans to both retain and attract younger clients, the survey said.

That includes emphasizing real-time communications with technology, as well as transparency and efficiency to curb any mistrust they may have following the financial crisis. For Merrill Lynch, part of the plans to address that population also includes bringing younger financial advisors into its ranks, particularly through its training and development program, Thiel said.

The industry should also expect equity allocations to increase even more in 2012, the survey said.

In 2010, the high net worth individual population has also moved increasingly toward equities from the cash, deposits and fixed-income instruments favored in recent years. At the end of 2010, 33% of high net worth individuals had all of their investments in equities compared to 29% in 2009. In North America, 42% of those investors had invested in all equities versus 36% in 2009.

Buy An Apartment Building With No Money Down- Is It Realistic?

Author: Ted Karsch

The brand new apartment building investor/buyer should be aware of what I consider to be the most important rule to multifamily investing:

First, the new apartment investor MUST find a profitable property
This may sound obvious but, in my role as an apartment building financing specialist, I speak to dozens of aspiring investors every week who call me or email me saying that they found a great piece of real estate, with a super CAP, in an excellent area, that is 95% occupied and that they would like to find a loan to purchase the apartment building. Unfortunately, many of these “great opportunities”, upon closer inspection of such documents as rent rolls and the income and expenses, it becomes clear that the apartment building does NOT “debt service”. This simply means that the real estate does not produce enough income on an annual basis to cover all expenses including the loan payments, taxes, insurance and maintenance costs. After doing the math, the investor goes back out into the field, armed with more knowledge. Persistence usually pays off because there are plenty of profitable properties for sale, it just takes some time to find them.

After finding a profitable apartment building THEN the investor should seek financing
Commercial mortgage companies and apartment building lenders almost always require a buyers contribution to be 20% of the purchase . The purchase price shouldn’t be confused with what the buyer thinks the property is worth, or even what the real estate recently appraised for. Banks are only going to lend money based on the purchase price of the apartment building. Of course, there are exceptions to this rule. One exception is when the investor is purchasing the place to do a construction rehabilitation of the property. In this case, the loan process is usually more involved and more documentation is required.

Many of the potential apartment building buyers that I work with don’t have the liquid capital required for the 20% down payment mandated by the bank. Here are some of the strategies that DO WORK in the real world. There are no secrets, despite what many “real estate gurus” will you, to financing an apartment building investment with no or little money down.
Many investors are not aware of all the creative methods that can be used effectively to raise investment capital. Here are some of the ideas that I have seen be successful in the real world, with real investors, buying real apartment buildings with less money down.

1) Incorporate a limited partnership and raise money from other investors. Forming a limited partnership for the purpose of raising money for an apartment building investment is a great solution if the investor does not currently have the liquid capital needed for the 20% down payment. A limited partnership should be formed under the direction of an experienced real estate attorney who understands the intricacies of this kind of partnership agreement. The limited partnership normally consists of one general partner and one or more limited partners. The general partner is the only member who has the power to make executive decisions concerning the apartment building investment. The limited partners invest their money with the expectation of receiving a return on their investment when the property is sold or as structured payments from monthly net cash flow. The investor/general partner should prepare detailed financial statements on the project to present to potential limited partners in order to convince them to invest their hard owned money. A good real estate attorney should be able to help with this aspect of the partnership as well.

2) Raise capital from friends and family This may seem like an obvious solution but it is surprising how many investors neglect to look close to home when trying to fund a good apartment building investment deal. Unfortunately, if the investment doesn’t work out as intended the investor not only is risking his investment capital but he is also risking a close friendship or good relationship with a family member. Because of this it is generally a good idea to have a qualified real estate attorney draw up a formal agreement that clearly spells out the responsibilities of all parties involved.

3) Obtain owner financing Most owners of apartment buildings are experienced investors who are financially adept. They are accustomed to receiving and utilizing some form of owner financing to structure their investment projects. Many great properties have been purchased from sellers who have for some reason or another neglected the property or are ready for retirement. Sellers who are motivated to relinquish ownership of their apartment building will be more willing to offer some form of flexible owner financing.

Investing Through New Construction

Author: Heather Sei Tz

If you think that because the residential real estate economy has gone bust that there is no way to make money in this market right now, think again. There are thousands of upscale neighborhoods across the United States in which new construction of homes was halted because of the collapse of the real estate market. Most of the homes that were under construction had been purchased by real estate investors who hoped to flip the home upon completion to a new buyer and make a sizable profit.

When it became apparent that the majority of people who were commissioning new construction homes to be built were investors and there were not a lot of buyers, the entire market crashed. Investors lost money and many developers went out of business. They had a lot more homes in their new subdivision for sale than there were buyers. On top of that, they owed banks money for financing the subdivision. Pretty soon, banks took over these areas, which are located throughout the United States and particularly in Florida, California and Nevada. These areas were booming in the 1990s and then crashed.

There are many homes in these upscale neighborhoods that are in the process of construction. When the builder went bankrupt, the construction was halted. Banks took over but have no interest in getting these properties constructed. They are simply looking to get their money back.

If you know about new construction or are in the trades, you can buy one of these partially constructed homes for a fraction of their cost and finish the construction yourself. You have to be careful, though, that you understand what you are getting into.

You will have to know about building codes and make sure that the home is completed in accordance with the codes. In addition, you should also be aware that some municipalities have ordinances that require that construction be completed within a specified amount of time. If the house has not met that specification, there may be fines associated with the property. A title search will allow you to discover if there are any fines that have been levied against the property from the municipality for non completion of construction.

In addition to doing as much of the work on your own, you can also find labor relatively inexpensively throughout the United States. The trades were hit hard during this recession and there are many people who are experienced in all aspects of home building that are out of work. Many small trade companies have even gone out of business. You can find cheap labor to help you finish the construction of your house.

Buying new construction is usually a way to make money in real estate during any type of market. But even in this recession, you can buy partially constructed homes, finish them and then get ready to sell. Although you may make a small profit selling the home after construction is completed, you can make an even larger profit if you look for the long term investment and wait until the market turns around.

What Is A Deal For Real Estate Investors- A Real Estate Agent's Guide

Author: James Orr

As an active real estate investor and someone who teaches real estate investors, I am often asked by other real estate agents and real estate brokers what is a deal for real estate investor clients.

So, in my opinion, there are really four things that make a potential property a deal for real estate investors. You do not need to have ALL four things, but having more than one makes it potentially a better deal for the investor.

First, you should try to find property that is being sold for below current fair market value. In order to know if a deal is below current fair market value, you need to know or pull comparable sales. What some investors and many agents don’t realize is that houses listed for full price does not necessarily mean that they will sell for full price, but finding deals where they are listed below current fair market value makes them more attractive to start with.

Second, deals should have great positive cash flow. In many markets this is near impossible to find with straight rentals and high loan to purchase price ratios. However, in some markets it is a huge factor and you should know that rent minus mortgage payment is NOT a cash flow calculation. There are more expenses than just mortgage payment like taxes, insurance, maintenance and management that need to be included in a cash flow calculation. In other words, it is not enough to say a house that has $1,000 per month rent and a $900 per month mortgage payment has positive cash flow; it does not.

Third, deals should be sold by motivated sellers. Motivated sellers are more likely to accept offers that are discounted and/or offers that are creatively structured.

Fourth and finally, deals should have owner financing. Especially in our current credit situation, deals that include owner financing are much more attractive to investors than cash (or traditional financing) deals. The challenge is that most deals listed in the MLS will never mention owner financing. You don’t get it unless you ask in an offer.

In conclusion, finding deals for your investor clients should have one–and in many cases, more than one–of the above. The more the better and showing your investors deals that do not have one or more of the above will lead, ultimately, to unhappy investor clients and little or no repeat business.

Investing In Urban Areas

Author: Darral Simmons

SMART WHOLESALE INVESTING
Investing in urban areas of your city is a smart real estate investment. Most cities are rehabbing their urban areas. With gasoline prices at over $3.00 a gallon, developers and cities are pouring money into redeveloping urban cores. Urban areas are close to the city so driving distance is cut down and the older housing is well built quality housing.

SUPPLY OF BUYERS
People are moving back to the urban centers of their cities to be closer to their jobs. The future is in urban developments. Developers are building supermarkets, retail stores and restaurants in these areas so that you can live and work and not have to leave the area. There are a lot of buyers and investors who are interested in buying urban real estate properties. Lofts are increasingly popular. Wholesalers are rehabbing urban properties and adding them to their portfolios because there is a large pool of buyers and tenants who want to live in these types of properties.

WHOLESALERS IN CHARGE
I believe in the future that wholesalers will be the majority in charge of the real estate industry. The reason is that a large majority of people are not being responsible with home ownership. There is a great opportunity for wholesale investors to earn income buying and selling rental real estate in urban areas.

CHANGE YOUR MINDSET
A key to successful wholesale real estate investing is not to look at properties that you want to live in and fix up with granite and whatever else. You want to buy low and sell high. Start with median price homes. They are easier to flip and there is a greater pool of investors and buyers that you can market to. You can always move up to higher end properties later if you want. Keep in mind that higher priced properties are going to sit on the market longer because there is not enough investors that deal in fast flipping of those types of real estate properties.

THREE BEDROOM HOMES
From my years of experience wholesaling real estate three bedroom, two bath homes is the best investment. They are easiest to sell. Traditionally, two bedroom, two bath or one bath properties are more difficult to sell because there is not enough square footage. Consider a two bedroom one bath that can somehow be converted to a three bedroom, two bath as a good commodity also. What we call these types of properties is investment grade homes.
However, during the last 5 years, I have had some success wholesaling two bedroom homes because many single first time buyers have purchased these types of properties for investment and to live in.

KNOW THE VALUE OF YOUR INVESTMENT
It is important to know the wholesale value of any real estate investment that you make. Run your numbers, do your homework. A lot of information on sales of comparable properties and rentals can be obtained for the local MLS or your Realtor or other programs. Having the right information and being able to analyze and project is the key to your success. Decide before you invest whether you will rehap the property to flip it or whether you will hold on to your investment, letting it appreciate and receive a positive cash flow from your rental income. Buy smart, this is a business. Keep your emotions out of play.

Below Market Value Property (BMV)- The Dream Ticket for Property Investors?

Author: Chris Horne

What are Below Market Value (BMV) properties?
BMV is an abreviation for the term Below Market Value.

Below Market Value (BMV) properties are residential properties that are available below their market value. This is normally because the owners are faced with some kind of financial difficulty and want to or need to dispose of their property quickly and without going through a protracted marketing and sales process. The precursor to this is quite often the threat of repossession.

In recent years, a whole new industry has sprung up around Below Market Value (BMV) properties. Property investment chat rooms are full of individuals claiming to have found a Below Market Value (BMV) property at a 10%,15% even 20% below its market value.
As a trained surveyor my first reaction to this is ‘poppy cock’. There really is no such thing.
The guidance from the Royal Institute of Chartered Surveyors on how a surveyor should value residential property is contained in Appendix 5.1 of the Royal Institute for Chartered Surveyors Appraisal and Valuation Standards (Red Book). The basis for the valuation of a residential investment property is normally its’ market value. Market value is defined in the Chartered Surveyors hand-book as:

‘The estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.’

Therefore, if as an investor you think that a property is worth £200,000 because maybe a similar property sold for that last year, and you buy it for £180,000 you might conclude or be told you are getting the property for 10% Below Market Value (BMV). Rubbish, if the property has been marketed i.e. advertised by an estate agent and unless you have held a gun to the seller’s head, the market value of that property is £180,000.

How do I beat the credit crunch?
Where a Below Market Value (BMV) property could exist is if the property was not fully marketed first. This situation occurs where property buyers are able to access so called ‘distressed or motivated sellers’ who cannot afford or want to go through the normal marketing and sales exercise. To find out how to access motivated sellers.

It is also true that because of the speed and unpredictable nature of the auction process (you are never sure how many and what buyers you are going to get) it is possible that properties bought through auction could be described as being Below Market Value (BMV)

The Below Market Value (BMV) Property Industry
The new Below Market Value (BMV) property industry has emerged during the current property boom because companies have latched onto the large potential profits of buying property at a discount and then renting these investment properties back to their original owners. Favourable financing conditions have meant that these companies have used their instant paper profits they make on these transactions to borrow additional funds to expand their operations. The industry even has its’ own trade organisation called the Property Buyers Association (PROBAS) comprising of companies that offer to purchase a distressed sellers property for cash as well as sorting out the legal side of the transaction.

Morally there are arguments for and against these companies who use their ‘negotiating’ skills and the desperate situation of the seller, (who often need to get their hands on cash fast;) to obtain a significant discount to the value of the property. They argue that they are providing a useful service for their clients; others would say they prey on the vulnerability and desperation of the less fortunate members of our society.

Beware of the Below Market Value (BMV) ‘middle men’
This new industry has given rise to a spin off sector aimed at landlords & property investors who want to emulate the success of these companies by locating their own ‘motivated sellers’ and purchasing Below Market Value (BMV) properties that they either keep or sell on at an instant profit. Companies and individuals have set up to exploit this property investor led feeding frenzy. Property investment chat rooms such as Russ Whitney have been taken over by chumps masquerading as property professionals, whose previous job, if they had one was probably opening the door to a load of drunken teenagers in a city centre bar.

These individuals set themselves up as Below Market Value (BMV) gurus and introducers either offering to sell their full-proof Below Market Value (BMV) finding system or increasingly to sell potential investors so called Below Market Value (BMV) leads to individuals they have tracked down who are ‘desperate to sell’.

The question is always, why? Why would these individuals be passing on leads for so called Below Market Value (BMV) properties if they are such great deals? The simple answer is that they are ‘chancers’. If they can sell a few leads for a couple hundred pounds and then an introducer’s fee for the sale of a property at a couple of thousand, it’s not a bad days ‘pay’!
One only has to look at the whole off-plan debacle for parallels. Here again naive and overly ambitious property investors were manipulated by unscrupulous middle men out to make a ‘fast buck’. The result is that many property investors have been left high and dry having over paid for new investments and are now facing financial heartache for many years to come.

Below Market Value (BMV) dangers
These are not the only dangers lurking with Below Market Value (BMV) properties. Even where a landlord manages to side step the middle men and does all their own leg work there is a little know hidden danger with so called Below Market Value (BMV) property which all relates to the provisions of the 1986 Insolvency Act.

The result is that a landlord who legitimately purchases a Below Market Value (BMV) property could find that several years down the line and unbeknown to them that the seller has become bankrupt and suddenly their trustee is coming after the landlord with a court order to either reverse the sale or claim back the difference between the open market value of the property and it’s sale price. This is because the Insolvency Act allows trustees of a bankrupt to protect themselves from the bankrupt giving away their assets or selling them at below the market price. A landlord purchasing a Below Market Value (BMV) property is potentially exposed to these provisions for up to 5 years assuming no fraud or the parties are associated in any way.
It is possible for a landlord who is looking to invest in a Below Market Value (BMV) property and is worried about getting caught out by this legal loophole to cover them self. What they need to do is to get the seller to Execute a Deed of Solvency and thereby effectively sign an undertaking to say they were solvent at the time of the sale. A landlord’s solicitor as part of the transaction will then need to arrange an insurance policy. This policy will cover the landlord for the two year period from the date of the transaction in which they are exposed to the potential that the seller goes bankrupt and that the trustee can make a claim against the landlord to set-aside the transaction.

Property investment karma
The older I get the more I believe in the karma of property investment- ‘what goes around comes around’. Let’s not forget that much of the promised profit from Below Market Value (BMV) properties is at the expense of desperate and easily exploited individuals who have ended up in financial difficulties. There is some poetic justice in a property investor motivated by greed and prepared to exploit vulnerable individuals to end up with: a ‘crap’ investment property, occupied by dodgy and bankrupt tenants, who are then taken to court by disgruntled trustees and to top it all because of a falling housing market end up paying more than the property is in fact worth.

5 Steps To Help You AchieveProperty Investing Success

Author: Carlton Johnson

Over 90% of the richest people in the World have become wealthy through investing in property. As well as this, a large portion of the people that didn’t become wealthy through property, now use property as their preferred investment vehicle to either create more wealth or to protect the wealth they already have.

This article will teach you 5 steps to property investing success. After reading it you should have a better understanding of what it takes to become wealthy through property and what sort of sacrifices you will have to make to get there.

1. Make better use of your time. What do you currently spend most of your time doing? Most people spend the biggest part of their time either at working or sleeping. In fact, including the commute to work, many people spend about 18 hours of every working day doing these activities. However, what they do with the other 6 hours and what they do with their days off (assuming they have that luxury) is what holds the key to their property investing success.
You might do vital things like get time with your family, but what about things like watching T.V. or playing video games, or even going down the pub. If you sat down with a pen and paper and wrote down how much time you spend on these, none essential activities, you might be surprised at how much time you are wasting that could be spent doing other things, such as learning about money making or actively investing in property. Including the weekends, many people spend about 18 hours a week, watching T.V. If you could cut this down to about 5 hours a week, it could have a massive impact on your life.

Successful people generally don’t spend every afternoon, sat glued to watching Eastenders. Do you really think that this is how Richard Branson or Philip Green spends their time?
Cut down, or cut out totally, anything that you currently spend your time on that has know real benefit to your future happiness, wealth and prosperity. Once you have decided what you want out of life, then focus your energy into activities that will help you achieve your goals.

2. Make your money work for you. If you are used to getting paid an hourly or a daily rate, then the chances are you are probably not very wealthy. It’s a fact that the richest people in the World do not get paid by the hour. They master how to get their money to work for them so that even while they are sleeping they are accumulating wealth. This maybe the single most important thing you should learn to you help get you out of the rat race.

3. Set goals. Setting goals is crucial to your success. If you don’t set goals you will be aimlessly wondering through life. There is a small chance you might be successful, but if you set goals you are much more likely to be even more successful. You need to plan where you want to go and what you want to do. On top of this you need to understand why you want to achieve what you want to achieve.

4. Strategy. Setting you goals will set out what you want to achieve, but planning your strategy will tell you exactly, HOW you are going to achieve it. Goals are useless without a strategy of how to achieve them. When you plan your strategy you need to plan down to the nth degree and have back up plans that will mean if something unforeseen happens, you can still overcome it and meet your goals.

5. Mix with the right people. This can be online through property forums or in person at property networking events or any other way you can think of. It is vital to your investing success that you mix with people that have similar goals to you and/or that have already achieved what you want to achieve. You might all of a sudden find that all your friends and relatives are telling you that now is not the time to get into property and that you have already missed your chance of making serious money from investing. The only way you are going to be able to continue to believe in the face of negativity from those who care for you is if you have proof around you of those that have succeeded and continue to do so.

It still is, and perhaps always will be, possible to achieve property investing success. This success is available to anyone who is prepared to follow the steps and make the sacrifices today that will insure their future tomorrow.

The Basics Of Investing In Real Estate

Author: Kent Hamilton

Investing in real estate has made people independently wealthy than any other type of investment, but it is not a venture to be taken lightly. There are many things that anyone starting a rental business should know before they are investing in real estate.
Of course, if you are going to be investing in real estate, you are going to need to successfully evaluate properties for their investment potential. The potential of a property depends upon so much much more than its rent. Several other factors go into determining if a property is a sound investment. In addition to familiarizing yourself with these factors, you are also going to need to know the law regarding landlords, tenants, taxes, discrimination, and accounting.
Initially, you need to decide what type of property you want to invest in. For example land, commercial, residential, etc. Residential properties are defined as single family homes, duplexes, and multiplexes even though structures with over four units are sometimes considered commercial property.

Second, when you decide to start wholesaling real estate, you need to determine where that real estate should be. You might decide to stay close to home, or to buy property near places you would like to visit or to spend a vacation. You may be able to write off travel expenses. You may also want to seek real estate in growing communities and places where real estate is expected to appreciate, but this is a much riskier way in which to invest in real estate.

There is still a good amount of speculation even though the high number of foreclosures on the market today would make you think that it is a no-brainer. When you take the risk of flipping a property you increase the rate of short term capital gains and these added taxes and expenses are unavoidable.

This type of real estate investing can be compared to day trading. It has the potential to make a lot of money quickly, but it also has the potential to lose a lot of money fast. This is not for the inexperienced patron. It is not a good, initial secure base to build your investment business on.
Once you have done your research and determined that you want to invest in rental property you will need to decide where the property will be located whether it will be residential or close to home. After deciding this you will be able to ascertain which property has the greatest potential to give you the highest return.

That will depend upon what you are currently investing in, what you are making now, the way in which you seek to develop your realty portfolio, how old you are, the amount of spare time you can set aside, what your long-term intentions are, and how expensive your needs are. You must also decide whether you are looking to acquire cash flow income or prefer to earn cash quickly by risking a property flip.

One of the easiest and low risk way to make cash with in this business is by becoming a Real Estate Bird Dog. You simply find a property for an investor, put it under contract and sell it to the real estate investor without ever touching the property. This is easier said than done but you can potentially make 1k - 2k per deal.

Real Estate Investor Beware- Are You Still Buying Equity?

Author: James Orr

In our current real estate market there are still real estate investors that purchase houses based on equity. While this strategy can still be profitable there are some things you need to consider.
First, you need to realize what the true value of the property is. In some markets, real estate values have declined. In some markets, real estate values have gone up. An appraisal completed one month ago, could be vastly different than an appraisal completed today.
If the seller tells you they purchased their house for $200,000 six months ago, you cannot assume that the house is still worth $200,000 today. This is one of the challenges of buying based on equity.

Another thing that you need to realize if you’re buying property based on equity is the amount of time it will take you to sell the property. If you think you’re going to be able to buy a property and quickly sell it you need to make sure that your expectations are realistic.
You can check with your local real estate professional to determine the average number of days on market. This, combined with your marketing expertise, will help you determine what you can realistically expect to sell the property in.

In our current market situation I would also had a backup plan in case the property does not sell quickly. One option would be to offer the property for sale to a tenant buyer. Or, you could consider renting the property to a renter.

Another option in our current market would be to take an option on the property. Although it is extremely difficult to do this with a property that is listed in the MLS, this can be accomplished when you’re dealing directly with a motivated seller.

Investing In A Down Market

Author: Ki Gray and Dane Smith

All investments depend on making returns, which in turn are affected by macro cycles such as the Great Depression or the dot-com boom. When a market is receding, it makes more sense for long-term, stability-seeking investors to look elsewhere upon first glance. However, in the case of the housing market of many parts of the US, the likelihood of long-term housing depression are still relatively slim. Furthermore, other factors will continue to influence the stability of housing pricing in the short term.

Likely investors in most areas will be able to get great values for some time, but housing prices have statistically increased on a per-capita level for the vast majority of the past century. Even with the 30% decrease in home prices during the years of 1930-33, economic stimulus eventually prevailed. The Depression was also the primary topic of a young Ben Bernanke who, before his current position as head of the Federal Reserve, wrote a 350-page report on how the US’ largest recession was due to the blunders of the then newly-created institution. Bernanke has also taken more unprecedented steps to help preserve large investment banks than homeownership, citing a housing bubble which needs a necessary (though unfortunate) correction.

As foreclosure rates continue to increase, many properties are being revalued at less than the price they were purchased at. However, this is only half the story. America’s losses are oft distributed unequally. And while the Midwest generally experiencing the worst effects of past recessions, this time may be a little different. Across middle America, home prices have depressed for seven straight months, but several previously hot markets have deteriorated below pre-bubble prices. Southern California and Arizona are two examples that stand out, particularly in terms of how rapidly falling home values have affected previously booming areas.
Now consumers are hit with two difficulties which make housing slumps particularly viscous: rising mortgage payments and loss of home equity, which has restricted lines of credit for homeowners. Furthermore, the advantages of America’s size are diminished in a housing slump because homeowners are unable to migrate to other areas. Historically, there have been many such exoduses from economically depressed areas in search of higher wages, but homeowners are increasingly unable to do so unless they sell their homes at a loss.

This stagnation also means that markets with rising values will continue to attract investment, while government intervention may be necessary to lift more blighted areas. The Northwest continues to experience positive property values, despite the prospects oflooming layoffs from troubled financial firms. Texas continues to experience exceptional developmental growth, and relatively stable house prices in his area likely contributed to the Dallas Fed’s dissenting vote against the recent record Federal Funds Rate cut. In central Texas, development has continued relatively unabated, in contrast with other areas where property values have dropped more considerably. This reasoning indicates that these markets are likely to accelerate growth as the larger economy recovers from the sub-prime crisis, and will probably be more valuable in the mid-term by comparison to more depressed areas.

Either way, the US recession is not likely to remain too deep, thanks to the generous monetary policy of the Fed. Should current inflationary pressures continue their current trends, home prices will necessarily rebound, although not quickly enough to facilitate speculative short sells. Therefore, for those looking for the long haul, deals are out there.

How To Get Started In Real Estate Investing

Author: Jamel Gibbs

In modern times, real estate investing is one of the leading sources of wealth building. The majority of the world’s millionaires made their money by investing in real estate. When investing in real estate you open up a whole new world of opportunities for yourself. But, as a newbie how do you get started in your own real estate business? This article will explain how to get started in the real estate investing business.

Pick a niche: First you have to decide on what you want to do as an investor. Do you want to be a landlord? What about a rehabber or wholesaler? The best thing to do is pick one field and get good at it, then move on to other fields. Ask yourself these questions. Do I need immediate cash? If so, then you may want to flip houses. Do I want to collect a monthly income? If that is the case, then rental properties is the way to go.

Education: The next thing you may want to do is get as much education as possible on the niche you picked. By getting educated on the niche, you can get a better understanding on how to get things done the right way. If you don’t educate yourself, real estate investing will be an expensive experience for you.

Build your team: After you have educated yourself you will need a team. A team can consist of realtors, title companies, mortgage brokers, private and hard money lenders, bird dogs, etc. Train your team to duplicate your business actions and you will have much success.
Farm your areas: Pick a couple of middle class areas to invest in. Drive around and get familiar with the properties. Get familiar with the property values and take note of the amount of properties on the market.

Networking: The best thing to do as a beginner is network with other investors. Get some business cards made up and go join your local real estate investment club. Start talking to the other investors and ask them if they would call you if they find any good deals. Let them know that you will call them as well. Make sure you get their name, phone number and email address so that you can keep in touch with them.

Remember that education and action is the key to your success as a newbie. Once you know what to do, then put that knowledge to work and don’t procrastinate.

Why Real Estate Investors Should Consider Owner Financing

Author: James Orr

Owner financing has always been something that savvy investors look for in a deal. Amidst current market conditions, these creatively financed deals have become more essential to investors than ever. In the wake of the subprime loan crisis, Freddie Mac has announced that beginning in August of 2008, it will reduce the number of loans that an investor can hold from ten to four. With such strictures, investors must have as many tools available to them as possible to creatively structure deals.
The current market conditions have left many houses languishing on the market unsold with diminishing possibilities for a full price sale. But owner financed deals can help both the investor and the seller to get what they need.
In many instances, investors can offer homeowners full price if they are willing to give them good terms. For example, a house that would have had negative cash flow with a traditionally financed 100% loan (which are nearly impossible to obtain now), can cash flow if the owner carries back. Instead of asking for a particular interest rate, the investor would offer to make the monthly payment that would make the property profitable. The seller would receive the full purchase price, a set payback period of 15, 20 or 30 years would be agreed upon, and the number and amount of the payments would determine the interest rate.
Or, the investor can also offer the seller full price, but ask for a specific interest rate which is lower than the banks are offering, in exchange for getting the house sold right away. Additionally, the investor can also negotiate a period of lower or even no payments while he is fixing up the property. All of these things are negotiable, but investors need to tap into their creativity when structuring these deals to continue building their portfolio in the current market.
To sum up, with both the number of loans available to each investor drastically reduced and the near impossibility of obtaining 100% financing, investors with little extra capital can continue investing by asking sellers to carry back. Don’t stop investing just because fewer loans are available!

Real Estate Investing- The First Timer's Guide to its Drawbacks and Risks

Author: Hunter Craig

Real estate investing is about more than picking up a property cheaply and reselling it at a profit. While how-to books and real estate guru seminars may make it seem easy and risk-free, there is a reality to real estate investment. To learn more about the potential downsides of real estate investing, keep reading.
It Takes Capital
Typically, real estate isn’t considered a quickie investment, and your capital can be tied up for a long time. A down payment on a home can’t always be taken out and withdrawn in the case of a financial emergency or the need for quick cash.
That capital could also be used for other investments. For example, let’s say you invest $20,000 into a home that winds up not appreciating at the 8 percent annual rate you hoped it would. Instead, it depreciates and then eventually appreciates at a low 4 percent rate. That $20,000 could have made more by investing it wisely in a diversified investment portfolio.
Returns Will Vary
Like any investment, other than GICs (Guaranteed Investment Certificate) or guaranteed savings programs, your returns are going to vary. While real estate is more stable than, say, the stock market, that doesn’t mean you can bank on a 10 percent annual return.
You Will Pay Capital Gains Taxes
Taxes can slash your profits on your real estate investments if you’re unprepared. While there are deductions and capital deferral programs available to real estate investors, you need to understand the law and be prepared to apply it to your own circumstances.
Closing Fees and Transaction Costs can Reduce Profits
Unless you’re savvy enough to handle your own sales, you’ll have to hire a real estate agent, meaning you’ll have to pay commission. In addition, most investors will need to pay closing costs, title insurance, inspection rates, legal fees and more.
Typically, the costs associated with any real estate transaction usually hover around 15 percent of the transaction, whether you’re buying or selling.
There is Work Involved
While a real estate investment normally does reward sweat equity, that also means you have to put it in. Unlike stock market investments where it takes little more than cash and a telephone or a computer to make an investment and see a possible return, real estate investment involves getting out of your chair and a lot of leg work.
Whether it’s driving out to sale sites, attending home viewings, cleaning properties, maintaining rental units, upgrading or renovating houses or preparing a house for sale, it’s all hard work that you’ll have to put in. So, before you jump into real estate investing, make sure you have the time and energy to invest alongside your money.

Getting the Right Information from the Seller

Author: Jamel Gibbs

So you have the ads running, you have the post cards delivered, you have the bandits signs up, and now your phone is starting to ring. What do you do when the sellers call? What questions do you need to know in order to evaluate the deal and make sure you present the right offer? This article will give you the top five things you need from the seller in order to evaluate a potential real estate deal.
It’s quite obvious that you will need the name and phone number of the seller who is calling you. Therefore, we will not get into that. This article is about important questions. Not, common sense questions.
One: The first important thing that you need from the seller is the property address, square footage, and bedroom and bathroom information. Find out where the property is located. Ask the seller what is in the surrounding area. How far away is the nearest shopping center, etc.? Try to get as much detail about the property as you can.
Two: Next you will want to know about the repairs needed on the property. Tell the seller to be specific so you can get an idea of the amount of repairs the house needs. Ask questions about the boiler and the roof. Find out what was upgraded already. Ask about the electric and plumbing in the house. What about the windows, kitchen and bathrooms? Get the seller to tell you as much as possible.
Three: After discussing the property now you want to know why they are selling the property. Make them go into detail. This is very important. This question will help you determine if you’re going to take a look at the property or not. If they say that they are selling because they need the money. That is not a good enough reason. If they are selling because they need cash to pay off an expensive medical bill that was for a life threatening illness…. now you’re talking. Obviously, you want to target motivated sellers, so try to find out the seller’s why (in detail).
Four: Now it’s time to ask about the financing on the house. What is the loan balance on the house? Are they current on their loan and taxes? Will they take what they owe? How much is the 1st mortgage amount? What about the second? Is there a 3rd mortgage? How much are they asking for the house? Try to find out as much about the financing on the house as you can. If they are serious motivated sellers they will tell you. If not, they are probably not your cup of tea.
Five: The last important thing you need to know from the sellers is if they are willing to take less money if you pay cash. Ask the seller this question… if I were to pay cash and close quick, what is the least amount of money you are willing to take? This is a very important question because this will tell you how motivated (desperate) the seller really is.
Remember to ask your questions with confidence, be polite, and keep in mind that you are there to help the seller get out of their situation. Ask these questions and you will eliminate the unmotivated sellers off of your list.

Be The Next Oscar Wilde

Anybody can write but not everybody can be a writer. The mark of a true writer is the ability to express him or herself with eloquence and grace. Writing, however, is more than just stringing words together in a dramatic fashion.
What Makes A True Writer?
A true writer has something to say. It could be a message or an opinion of great importance that could stir even the most passive of audiences. It doesn?t matter how trivial or how crucial a subject is. A real writer can write about a home mortgage refinancing lender or a lengthy dissertation on an Oscar Wilde novel and will still have his or her readers gripped. A writer who can make a home mortgage refinancing lender look good or a well-loved monarch look bad is indeed a very talented one.
Oh, Fearless One
A real writer is not afraid of criticism, disapproval, or persecution. The best and the greatest of all writers have been censured and even scorned in the worst possible ways. Indeed, there will always be detractors. You can write about a controversial subject like politics or a benign one such as home mortgage refinancing lender and still be criticized. A true writer who believes in the truth and the integrity of his prose should have nothing to fear and should always be prepared for the consequences.
Pride and Prejudice
Ego is a writer?s curse. Many a writer have made the mistake of basking too much in fame and glory to have forgotten the integrity of his or her words. To be a truly good writer, it is important not to let praise go over your head. Accept criticism and learn from it. When commended, remain humble but grateful. Remember that no matter how well you wrote that piece on home mortgage refinancing lender, you can still do better. Be your best and worst critic.
There are no subjects insignificant enough to be done halfheartedly. Write about home mortgage refinancing lender with as much care and as much dedication as you would an essay about life and love. No essays should be neglected because you feel it?s inconsequential. You?ll be surprised to know how even the most benign topic such as home mortgage refinancing lender can touch lives. Keep an open mind and don?t subject yourself to petty prejudices. There are always two sides of a story and a truly good writer does not choose sides.
The Power of the Pen
Writing is more than a profession. It is a craft and a gift that should be used wisely in pursuit of truth, justice, and honor and not for petty and mundane victories over the weak. The freedom of expression is indeed a beautiful thing, its power heady. It can build just as well as it can destroy. There is truth in the adage: the pen is mightier than the sword. And if you are lucky enough to wield such a weapon, you must know how to use it right and use it well.

The Sopranos Introduction

Kim Kardashian wears shoes she bought on eBay

Kim Kardashian wears shoes she bought on eBay

This is not news, but it does confirm that Kim Kardashian's eBay ID is *styleworld* (with asterisks around it) as we reported yesterday. She was seen out in the Christian Louboutin platform espadrilles, size 9, that she bought on eBay on April 24th for $445.00 plus $16.95 shipping.
Kim, 25, attended the "Entourage" LA premiere on 6/1 wearing the overpriced but discounted shoes. She was hanging out with Paris Hilton at the event. She is dating Nick Lachey and is the daughter of O.J. Simpson lawyer, Robert Kardashian.

Occidental CEO got more than $400 million in 2006

Occidental Petroleum Corp.'s chairman and chief executive took in more than $400 million in compensation last year
The company said in a filing, one of the biggest single-year payouts in U.S. corporate history.The largest part of Ray Irani's 2006 payout was $270.2 million from the exercise of options awarded from 1997 to 2006, representing more than 7.1 million shares, according to the company's annual proxy statement, which was filed with the Securities and Exchange Commission in March.
Irani also received $93.3 million in stock and dividends from a deferred stock program when the company closed the plan in October due to increases in liability and expenses for the program, the company said.
Irani's salary in 2006 was $1.3 million and his cash bonus was $1.4 million, according to the filing. But stock and option awards and other benefits lifted his 2006 compensation to $55.6 million, the proxy said.
In the proxy, the company said that from December 1990 -- when Irani succeeded Armand Hammer as chief executive -- through 2005, the company's stock rose to about $40 a share from $9 and its total shareholder return was 699 percent.
"When you look at this, this is solid pay for performance," said Richard Kline, an Occidental spokesman. "It serves the best interest of the corporation and the best interest of the shareholder."
Occidental shares closed on Thursday at $49.95 on the New York Stock Exchange.
According to the Wall Street Journal, only a few CEOs have ever made more money in one year. In 2001, Oracle Corp. CEO Larry Ellison received $706 million from exercising stock options and in 1998, former Walt Disney Co. CEO Michael Eisner received $570 million, according to the newspaper.

Become The Go-To Person At Work

After a 2-month lull, home prices take off
After stalling for two months, home prices in King and Snohomish counties perked up last month, disappointing potential buyers who thought slowing price appreciation had presented an opportunity.
Brian and Jennifer Rutherford are experiencing King County's strengthening real-estate market firsthand as they shop for a Bellevue home in the $500,000 range.
They initially planned to take their time to find the right house, said Brian, who does business development for a software company. Brian and Jennifer, a nurse, own a condominium in West Seattle.
"We were just hoping things would cool off. It might have cooled off from its highest point, but not too far," he said. "Now we're making more of an effort to step up our looking."
Home-sales data released Thursday by the Northwest Multiple List Service for March prove his point.
King County's median single-family home price rose 6 percent to a record $454,950 last month. Snohomish County's single-family home price, which also hesitated, moved up 7.4 percent, reaching a median $382,500 in March.
In Kitsap County, the median single-family house price was up 2.2 percent to $291,250.
Only Pierce County bucked the trend, with the median single-family house price declining 2.4 percent to $280,000 last month.
Median means half the properties sell for more, half for less.
Thursday's news that Microsoft is leasing 1.3 million square feet of Bellevue office space, enough to house 4,000 employees, is a near guarantee that Brian Rutherford is correct about home-buying prospects.
More workers in Bellevue may create more competition from other buyers in the Rutherfords' target neighborhoods.
Mortgage rates also have remained near historic lows, making it possible for more people to buy a home.
Still, Rutherford remains philosophic.
"It is what it is. That's the region we live in," he said.
If the Rutherfords decide to sell their West Seattle condo, they will enjoy the upside of a healthy market.
"I've been here for 41 years, so I've seen slow markets, and this is not a slow market," said Rich Bianchi, owner/broker of the Keller Williams Realty office in West Seattle.
Rather, he senses "the market is active, but not quite as active as last year," and that has confused buyers who thought prices would fall. They haven't.
"I think some people thought they'd wait until after the first of the year to get a bargain," Bianchi said.
"That didn't happen."
Indeed, West Seattle homes priced at less than $500,000 are drawing multiple offers — the same dynamic the Rutherfords have found in Bellevue.
They already have lost a bidding war on a $480,000 Bellevue house. Seven offers pushed the price to $535,000.
Builders are adding to the mix.
Windermere agent Daniel Toth's West Seattle listing for a 1928 brick Tudor — original period detailing plus a new kitchen for $499,950 — recently was snapped up by a builder. He plans to construct two additional homes in its back yard.
Lennox Scott, chairman of John L. Scott Real Estate, said a shortage of affordably priced homes will keep the local market strong.
He defines affordable as a house priced below the median for its area.
In Auburn, for example, that means less than $325,000. In Seattle's Queen Anne and Magnolia neighborhoods, it's less than $682,000.
"We still have job growth, population growth and low interest rates," Scott said, mentioning three factors that propel housing demand.
"People want to live closer to job centers because of traffic," he said. "That's dictating where inventories are lower."
Seattle-area interest rates stand at 6.22 percent for a 30-year, fixed-rate mortgage, according to HSH, a mortgage-information provider.
While agents and brokers talk about the lack of lower-priced homes, MLS statistics show that the total number of properties for sale has increased significantly over a year ago.
For example, King County buyers had 5,100 homes to choose from in March 2006. They had 6,762 last month, a 32.6 percent increase.
Year-over-year inventory increased 44 percent to 49 percent in Snohomish, Pierce and Kitsap counties.
At the same time, the number of house and condominium sales transacted last month was down 8 percent in King County and almost 18 percent in Snohomish County, compared with a year earlier, the MLS reported.
King County's detached houses have appreciated 12.3 percent in the past year, on a par with the county's condominium appreciation. King County's median condo price was $281,000 last month.
Snohomish County's house prices in the past year were up 16 percent.
But the county's condo appreciation was even stronger: 25.7 percent; and the median is now $238,796.
House prices were up 7.6 percent in Pierce County and 8.7 percent in Kitsap County for the past year. Those two counties have relatively few condominiums.


Become The Go-To Person At Work
Walk around for 15 minutes a dayOffices are like small families. You spend up to 10 hours a day in close proximity with your coworkers, sharing the same office space, facilities, break rooms, refrigerators, and coffee pots. Everyone shares the responsibility of making the company run smoothly and helping it stay profitable.Put aside about 15 minutes a day to walk around, greet your coworkers and exchange pleasantries. A smile and a warm handshake can help relieve their stress and add to your desirability factor at work. However, make sure that you don't become the office nuisance by interrupting people when they’re busy. If one of your coworkers is rushing to meet a deadline, save the pleasantries for someone else.
Compliment your colleaguesEvery so often, tell a senior management executive how much you appreciate a certain colleague or subordinate. Be as specific as you can, such as: "Ross, I want you to know what a great job Victor did at the presentation yesterday. We are all lucky to have him on the team."If a veteran employee is retiring, organize a goodbye party; if someone is being promoted, set up happy hour with your coworkers to celebrate. Take initiative and others will take an instant liking to you. A word of warning, however: Make sure that your compliments are sincere and don’t overdo it -- unless you want to be labeled the office brownnoser.Joining a committee and being aware of market trends can also increase your workplace exposure
Contribute to a publicationHave you thought of contributing to your organization’s internal newsletter, website or journal? Since company publications are frequently read by top executives, you’ll increase your visibility and establish yourself as an expert in your area. This is a great way to toot your own horn in a discreet fashion.
Join a committeeWhile interacting with the same group of colleagues every day won’t increase your exposure, working on a company committee will allow you to make new contacts and show off your skills to people who matter within the organization. If you behave like a leader, you could find yourself moving into a leadership position sooner than you imagined.
Offer a helping handIf you've used the last piece of paper in the copier or printer, fill it up. Take on extra tasks like mentoring a new recruit or training a colleague in your area of expertise. Share a trade secret that will help a coworker impress the boss. These small gestures help you build relationships and spread a good word about you in the workplace. Remember that what goes around comes around, and the people you help will likely remember it when it matters the most.
Stay informedRead industry publications, reports and magazines, and be aware of market trends. Your knowledge will be obvious to your colleagues, and they‘ll look up to you for advice and information. They might also talk positively about you with other members of the team and higher-ups; there is nothing better than third-party publicity.

"SCREW THE BUBBLE!"

"SCREW THE BUBBLE!"

I don't know about you, but every time I recently hear the wordbubble, I want to scream! Especially when I hear 'bubble' together with'real estate', as in the often referred to "REAL ESTATE BUBBLE". Youknow what I'm talking about...quotes like 'the REAL ESTATE BUBBLE isabout to burst!', 'How big can the BUBBLE GET?' etc..WHAT THE FUCK IS A REAL ESTATE BUBBLE??!!!I'll tell you what it is.... It is a media devise of fearsome word-play designed to strike at people's hearts and cause them doubt the veryexistence of real estate equity. It conjurs up images of atransparently thin 'bubble' we are riding inside of that will take ushigh above our home, and then "POP!" to send you crashing down to smashyou to bits on the roof. The talk of the 'REAL ESTATE BUBBLE' makes mesick. It is manipulitive and unneccessary and is typical of themainstream media to parlay the phrase into everyday syntax as a way toincrease circulation while playing upon people's fears.You know what the 'bubble' really is? It is a reward of equity-wealthand assets to people who have worked hard to earn it. People whostruggled hard to build and maintain their credit so they couldpurchase a home. People who worked hard at careers so they could bringhome the bacon and pay the mortgage and bills. People who struggled torepaint, remodel and renovate their properties so it would be worthmore money. It is the justafiable reason why we want to purchase realestate in the first place. So, to the people who hear the 'bubble' spin and give in to thenegative images it conjurs up, I feel sorry for you. You are the samepeople who said ten years ago, "Houses are too expensive! I can'tafford a house!" and then stayed in your one bedroom apartment payingrent. You may still be in that same apartment paying rent, complainingthe same old crap, "Houses are too expensive! I can't afford a house!"On second thought, I don't feel sorry for you, because you are the samepeople who wasted my time when I tried to show you the benefits of homeownership and you did not believe.So, believe this... There is a reward for building and maitaining yourcredit so you can buy and refinance your home. It is called EQUITY.Please don't give into the fear mongers who try to grab attention withscary spin phrases and headlines. The reason that home prices go up isbecause of the simple market principles of supply and demand. Someyears homeowners get lucky and experience more gains in house valuesbecause demand for homes is higher and interest rates are lower. Someyears the homes may not increase in value as drastically because ofmarket conditions or interest rates increases making homes lessaffordable, thereby decreasing demand. Don't worry, there isn't a'bubble' that will burst covering you with goo sending you to hurtlingto slam head first into the earth. There is just a time of lesserincrease in the value of homes. Worst case, maybe your home mightincrease only 0%-5% instead of 15%-20%.This does not mean to throw all caution to the wind and pay whateverthey say. It means, get a good deal with affordable payments and takecare of your budget planning. The same thing our Parents andGrandparents and all wise Forefathers advise. How come I don't ever hear about the "SUV BUBBLE"? All we have to do is ride out the tougher times to get to to goodtimes. "SCREW THE BUBBLE!"

Buying property with family or friends

Angelina Jolie attends the Worldwide Orphans Foundation Gala to Honor Christine Ebersole at Capitale.

Buying property with family or friends
Is it a blessing or a curse? The right due diligence makes all the difference.

John D. Rockefeller once said that "a friendship founded on business...is a good deal better than a business founded on friendship."
He might have added: "Except in real estate." That's because some of the most successful real estate companies have started as alliances of friends and family. Orange County, Calif. megadeveloper the Irvine Company was created in the 19th century by James Irvine and his son. Donald Trump's dad Fred taught his Apprentice plenty about the family biz.
Chicago real estate guru Sam Zell credits much of his success to his longtime partnership with his college pal, the late Robert Lurie. (Old John D.'s spawn didn't fare too badly either with a family venture in the 1930s called Rockefeller Center.)
To be sure, if you're just starting a real estate project, you'll find it difficult to resist the temptation to bring in friends and family as partners and investors. After all, those are the people you know and probably trust the most. But how do you avoid the seemingly inevitable "Dallas"-style dramas?
1. Trust but verify
Even if she's your sister or cousin, you should investigate a would-be partner's finances before doing business with her. Handy Web sites like Intelius.com and Public-records-now.com can help you unearth basic background info like tax liens or bankruptcy filings.
Ask her to share a copy of her latest credit report. Talk to her former business associates. To avoid ill will, tell her from the get-go that you'll be prying -- and invite her to do the same with your background.
If she balks, calmly explain that such precautions will only make for a stronger team, suggests Nicole McAllister of the University of Southern California's Lusk Center for Real Estate. "Remember, this is business."
2. Share a vision
It's critical that you and your partners agree to common goals before you buy. Will you renovate that apartment house to a level that would make a Hyatt Regency manager blush? Or do you want to rent the property "as is"? Is the goal long-term cash flow or cashing out quickly? Many partnerships founder on these simple points.
3. Get it in writing
Lawyers and their contracts can't prevent every calamity, but a written agreement -- think of it as a prenup before your partnership marriage -- can prevent headaches (and heartaches) for you and the family or friends who invest with you.
At the very least, an operating agreement will force you to plan for the unexpected, including death, divorce or a change of mind. You must also spell out exactly what happens if one of your partners wants to sell.
Establishing a contingency plan "gets everything on the table," says Philip Davis, a C.P.A. and principal at accounting firm Kauffman & Davis in Boston. "It's like going to a therapist."
4. Hire strangers
Unbiased advice is essential for all involved. Brooklyn real estate broker Tammy Shaw knows plenty about the business, but she says she'd never have bought her brownstone with family without professionals at her side.
"Build a team ahead of time -- an attorney, mortgage broker or banker, and contractor," she suggests. "They have to be people all of you feel comfortable with."
5. Be an open book
Garry Klein, co-founder of real estate fund Highpoint Equities in Scarsdale, N.Y., knows both the hazards and huzzahs of working with friends and family. He started buying real estate nearly a decade ago with his buddy Jeff Gault; family members have been a big source of capital ever since.
"The upside is that these people know you and know what you're about; they cut you more slack," he says. "The downside is these are people you're going to see at Thanksgiving dinner." Klein shares thorough, detailed investment results every six months.
Ultimately, success depends on your own ability to find good deals and execute. Friends and family can make a newcomer feel more comfortable, but you'll need to adopt professional practices for your effort to really pay off.

The Daughter of an Oscar-Winning Dad Finds Success on Her Own Terms

The Daughter of an Oscar-Winning Dad Finds Success on Her Own Terms


The world would be a very different place if a young goth teen from Southern California with a penchant for knives and Renaissance Faires followed her dream to become a funeral director. Lucky for us--and orphaned children across the globe--Angelina Jolie went on to became an actress instead, landing famous movie deals, countless awards, a United Nations ambassadorship and even Brad Pitt along the way.
In Angelina Jolie: E! True Hollywood Story, premiering Oct. 23, at 8 p.m., we follow the glamorous and sometimes strange life of Tinseltown's beloved rebel with a cause.
From her tumultuous relationship with father Jon Voight to those weird tattoos and vials of blood she shared with Billy Bob Thornton to finding happiness as a mommy and philanthropist, Ms. Jolie's life has been one wild ride.
Angelina grew up in the shadow of her dad, but without the fancy cars and mansion everyone thinks she had. So, she was determined to make it on her own, taking roles in such classics as Cyborg 2.

Before long, she was winning Golden Globes left and right for her work on TV and stirring up controversy when she smooched her brother on Oscar night. And taking home the Academy Award was just the beginning.
Angelina would go on to become Hollywood's go-to action girl and garner huge props in the international community for her boundless charitable work with refugees.

The Tax Implications of Buying Your Home

Top 10: Ways To Tease A Woman

Number 10
Perfect your deliveryIn order to become the kind of guy who can crack women up with your teasing and sarcastic remarks, you have to perfect your delivery. I'm talking about honing elements like eye contact, tone of voice and timing. They're all important.
Go get some classic comedies on DVD and pay attention to how the actors deliver the lines that make you laugh. Watch them over and over again, and then practice your delivery skills with the women in your life. If women are cracking up and playfully punching you, you're doing it right. If they're not laughing at all, you have some improvements to make, or you need to choose women who are more fun and more secure in themselves to spend your time with.

Number 9
Joke about a point systemWhenever a woman does something you can bust her on, tell her, "You just lost a point," as if you're keeping track of the points she's making or losing with you. The idea here is to suggest that if she loses enough points, you may not want to see her again. So if she's a bit late for a date, tell her she just lost a point. If she likes country and you like classic rock, she just lost a point. If she likes broccoli and you hate it, she just lost a point. Get it?

Number 8
Jokingly express your doubts This is a variation on the "you just lost a point" theme. Whenever she does something that suggests she could be a loser, a nerd or otherwise unworthy of your attention, tell her, "I don't think this is going to work out." Let's say you're about to meet up with a woman you originally encountered online. You two have never met in person before. You call her on her cell, asking where she is. While you're on the phone with her you see her walking up, but she doesn't see you yet. You can tease her with "Oh, are you the one walking by the Ferris wheel with the black jacket? Yeah... uh... I don't think this is going to work out. I think I left the oven on back at home or something." Of course this works best with really attractive women, as they are sure to get the joke.

Number 7
Use sarcasmWhen a woman says something totally obvious, you can reply with "Really? Wow. That must be the most fascinating thing I've heard all week." Say this with a sly smile, eye contact and a sarcastic tone of voice, and she'll get the fact that you're saying it "tongue in cheek."

Number 6
Disqualify her by ageLet's say you ask a woman how old she is, and she says she's 23. Act disappointed. When she asks you what's wrong, tell her you don't date anyone over 17. Or if she's 35, tell her you don't date anyone under 47. The idea here is to convey the notion that if she's young, she's not young enough, and if she's older, she's not old enough. What makes this interesting and different is that it's the opposite of what most women would expect you to say.

Number 5
Guess her weight Tell her you can guess her weight. Then do something silly that's completely not related to her weight, like take one of her fingers and examine it really closely. Then get an overly serious look on your face and say, "You must weigh about... (pause for dramatic effect)... 345." Caution: Use this only with women who are very fit. You don't want to hurt any feelings.

Number 4
Be playfully meanSay something that could be mean, but in a playful way. For example, if she says she doesn't like Tic Tacs because they don't work, you tell her, "Of course they don't work for you. I mean, I don't know exactly how to say this, but, you know you have a big, huge problem with bad breath, right? I mean, you know that, right?". Deliver with just a hint of a smile, and she'll get the joke.

Number 3
Slap her handNext time she says anything that could be interpreted as "bad" or even "naughty," ask her to give you her hand, take it, slowly turn it upside down, and gently slap the back of it. If you haven't made physical contact already, this is a playful and easy way to start.

Number 2
Give stupid answers to stupid questionsIf a woman asks you a lame question such as, "Do you date a lot?", reply with something cocky like, "Who me? No, never. I usually stay at home, locked in my room playing Nintendo, can't you tell?".

Number 1
Bust her on her jokesIf she tries to be funny in any way (by telling a joke, for example), let her finish, then just stare at her blankly and ask, "I'm sorry, was that supposed to be funny?" The longer you keep a straight face on this one, the more you'll hit her funny bone.



The Tax Implications of Buying Your Home
As you've figured out, owning a home is an expensive proposition. Lucky for us, though, there's a silver lining to our little black cloud. What is it? Elementary, my dear Watson! (Or, as John Lennon once said, "Ellafitzgerald, my deaf whopper!") It isn't a Sherlock Holmesian deduction. It's a tax deduction. And it's major.
When you file your federal and state income tax forms, you'll be able to deduct mortgage interest and property taxes (assuming that your loan is for $1 million or less). And there's even a deduction for up to $100,000 for a home equity loan.
So how much is this really going to save you? Well, let's hop on over to our Foolish calculator to find out. It works like this: Let's say that you're in the 28% tax bracket. Let's also say that, once you get your loan, you end up paying $1,000 a month. The interest portion of that $1,000 is tax-deductible -- and, in the early years of repaying the loan, almost all of it is interest. This means (assuming that you have other deductions at least equal to the standard deduction) that it will lower the amount of money on which you pay taxes. And this, of course, means that your tax bill will be significantly lower -- so you'll effectively end up having paid something like $720 a month for that loan. ($1,000 minus 28%, or $280.)
This is not to say that the reason to buy a house is to save taxes, but it sure is a nice perk. And the place you live will belong to you, not some landlord who doesn't know your name, won't fix plumbing problems, doesn't like you knocking holes in the wa ll to hang paintings, and threatens to call the police when you try to sneak a waterbed up the back stairway.
One caveat -- be sure to check with your accountant to make sure that you're going to be able to get the tax savings you expect. The likelihood is that you will, but you don't want to count on this kind of savings and then discover that for some reason you've miscalculated.
So go ahead, slosh away. If the waterbed springs a leak, it's your problem. Welcome to the joys of home ownership!
But wait. You haven't actually bought the place yet. You've just investigated the ins and outs of loans. (You're well ahead of many home shoppers, who hop in the car one day and begin to look, without investigating how they're going to pay for this humong ous asset.) Now you need to think about the house itself, and the neighborhood.

Housing bubble may lose some wind

Britney Spears says posted baby photos were stolen
Pictures of Britney Spears and her infant son surfaced on the Internet Friday, but the singer said they were stolen and threatened legal action against anyone who showed the eagerly awaited images.
Photos of Spears holding a dark-haired child and another of the singer lying cheek to cheek with the baby had been removed from a number of Web sites by late Friday.
"Anyone who publishes, sells or otherwise exploits any of these images in any way will be subject to liability and damages for willful infringement of copyright," invasion of privacy and other legal claims, publicist Leslie Sloan said in a written release.
Spears gave birth to son Sean Preston in September, but the 23-year-old singer and her husband Kevin Federline have kept a low profile since then.


Housing bubble may lose some wind
Stricter OCC rules on exotic mortgages may help stabilize housing prices as fewer buyers qualify.
With the popularity of exotic mortgages, it's never been easier for homebuyers to afford their dream house even if it's out of their preferred price range.But the increasing use of interest-only and option adjustable rate mortgages has put federal regulators on high alert. This fall, the Office of the Comptroller of the Currency, along with other financial regulators, will issue guidelines for mortgage lenders that could make lenders think twice before readily offering exotic mortgages to potential buyers.Will the inability to gain easy access to these creative mortgage products finally help let some of the air out of the inflated housing bubble?It's certainly a distinct possibility, said Andy Laperriere, managing director at ISI Group, a research firm."I think it will affect a meaningful amount of loans," he said. "It'll be enough to take the marginal buyer out of the hottest markets and therefore slowdown or even stop some price appreciation."Experts certainly see some correlation between the availability of these products and the surge in housing prices. Laperriere added that in high-priced markets such as California and Washington, interest-only and option ARMs make up about 50 percent of the mortgages used to finance homes.In a recent statement, Federal Reserve Chairman Alan Greenspan warned that the use of exotic mortgages could be pushing prices higher and may induce some home buyers to take on more risk than they can handle.Greg McBride, senior financial analyst at personal finance site Bankrate.com said "mortgage products with lower initial payments give you additional buying power at the front end of the loan and its one of the contributing factors" to the spike in housing prices.Exotic mortgages only one factor in housing pricesBut it's hardly the only factor. According to the National Association of Realtors (NAR), prices for existing homes nationally have climbed 13.6 percent in the second quarter from a year ago. Growth in the West outpaced the rest of the country with prices 19.5 percent higher. And some metropolitan areas such as Fort Myers, Florida and Phoenix, Arizona have seen a surge of over 45 percent and 47 percent respectively.Walter Molony, spokesman for NAR, said the housing market's strength in the last few years has been the result of a simple supply and demand equation: with an improving job market and low interest rates, there were simply more buyers in the market and sellers could demand higher prices.He added while there has been "an explosion in first time homebuyers using no-down payment loans" or other exotic mortgage products, he didn't think there was necessarily a direct correlation between the availability of flexible home financing products and the housing spike.But there's no denying that exotic mortgages have climbed in popularity in tandem with the rise in housing prices. According to the Federal Reserve Board's latest quarterly survey of senior loan officers from July, nearly a third of respondents said that non-traditional mortgage products make up 5 to 16 percent of their dollar volume of residential mortgages while one bank said these products make up 50 percent of its dollar volume.And more than half of respondents noted that the share of mortgage originations accounted for by non-traditional mortgage products had been higher over the past 12 months than over the previous 12 month period.Dean Debuck, a spokesman for the OCC, which regulates financial institutions, said the organization will issue guidance for mortgage products, adding that growth in the industry has uncovered "some things that need to be fixed." While he declined to comment on the specific guidelines, he said the OCC is focused on "safety, soundness and good risk management."Financial analysts expect the OCC to set specific credit-worthiness standards to prevent people from over-stretching themselves into debt and make sure that these products are aimed at individuals that are capable of repaying their interest only and option ARM mortgages when interest rates climb and their monthly payments increase significantly.Prices may stabilizeThe new standards are likely to take some marginal players out of the market and may make sellers reconsider their exorbitant asking price as interest rates rise."You're going to see a pullback in prices as inventories grow," said Neil Garfinkel, a real estate attorney at Abrams Garfinkel Margolis Bergen LLP. "It won't be a quick turnover, but with fewer willing buyers, houses will be on the market longer and sellers' expectations will have to change."But don't expect a free-fall in housing prices, experts said.Ellen Bitton, president and chief executive of Park Avenue Mortgage Group, said the market is more likely to undergo stabilization rather than any major decrease in valuation."People who have only been looking at the real estate market in the last few years think prices have to increase by 10 to 20 percent a year," she said. "But that's a frenetic market, not a normal market."She estimated that housing prices would return to a more stable 3 to 5 percent growth rate once it returns to a buyers market."But we have a way to go before we see that," she added.

30-year rates hit 15-month high at 6.1%

This is my new Toy, It's a wonderful SUV.

In champions league Chelsea and Real Madrid Hammered their opponents by 4 goals Alex Ferguson side tied in Oldtralford ....I think this year Chelsea is going to win.


All signals go for Google
Online search leader reports spectacular 3Q numbers; stock surges after-hours

30-year rates hit 15-month high at 6.1%
Long-term rates continue steady rise, Freddie Mac affirms strength of housing sales.
The average rate on 30-year fixed-rate mortgages rose to 6.10 percent this week -- a 15-month high -- from last week's 6.03 percent, a Freddie Mac survey said Thursday.
In the year-ago period, the 30-year mortgage averaged 5.69 percent.
The average rate on 15-year fixed-rate mortgages rose to 5.65 percent, up from 5.62 percent the previous week. A year ago, the loan averaged 5.07 percent.
"Despite the gradual rise in mortgage rates over the last two months, housing starts were actually up in September highlighting the resiliency of the housing market," said Frank Nothaft, Freddie Mac vice president and chief economist. "As a matter of fact, housing directly contributed to real GDP growth of 19 percent in the first quarter of the year and 23 percent in the second quarter."
Five-year adjustable-rate mortgages averaged 5.59 percent, compared to 5.57 percent the previous week. There is no data available for a year-to-year comparison because Freddie Mac only began tracking the 5-year loans this year.
One-year adjustable-rate mortgages averaged 4.89 percent, up slightly from 4.85 percent the week before. At this time last year, the one-year loan averaged 4.02 percent.

I am about to shop the mortgage market. Can you give me a handy list of the mistakes I need to avoid?

Angelina Jolie and brad pitt are engaged says co-star
Ray Winstone, the co-star of Angelina Jolie in the movie Beowulf, says the actress and Brad Pitt are engaged. According to hollywood.com, this revelation adds to swirling rumours that the couple are to be married. Pitt and Jolie had met during the filming of Mr. and Mrs. Smith. Winstone is working with Jolie on the movie adaptation of the epic poems Beowulf. He says, 'She's getting married isn't she? Yes, she is'.
I am about to shop the mortgage market. Can you give me a handy list of the mistakes I need to avoid?
Select The Loan Provider Offering The Best Price Over The Telephone Or In The Newspaper
If you cast a wide net, you are bound to find a rogue who will beat all the other prices, but has neither the capacity nor the intention of delivering such prices. His objective is to rope you in and move the process along until it is too late for you to back out. At that point, he raises the price using any of a dozen tricks available for that purpose.
Remember: Because the market is constantly changing, you can't hold a broker or lender to a price quote until you lock the prices. A lock is the lender's agreement guaranteeing the prices.
Assume That You Can Shop Lender A Today And Lender B Tomorrow
Because of market volatility, prices obtained on different days are not comparable. Unless you shop all sources on the same day, you are wasting your time.
Solicit Price Information Without Providing All The Information About Your Loan That May Affect The Price
Prices vary with numerous borrower, property and transaction characteristics that lenders believe affect their risk and cost. These include loan size, credit rating, type of house, your ability to document income and assets, etc.
Unless informed to the contrary, lenders quoting prices assume a set of standard specifications that generates the lowest price. If the specs on your loan differ at all, the price will be higher.
For example, lenders assume you are purchasing a single-family house as your permanent residence. If in fact you are buying a condo, or the house is intended as a second home, expect to pay more.
Accept a Mortgage Broker's Verbal Assurance That You Have Been Locked With The Lender
Some brokers tell the borrower the price has been locked, but don't lock with the lender. If interests rates don't rise between the supposed lock date and the closing date, the broker makes an extra profit. If interest rates spike during that period, which is unlikely but always possible, you're left holding the bag.
Don't be afraid to ask for written confirmation of the rate lock.
Allow The Price To Float Without An Agreement With The Loan Provider Regarding How The Price Will Be Determined At Closing
Some borrowers elect to allow the price to "float" -- change with the market -- until shortly before closing. Such borrowers are told they will receive the "market price" at the time they lock. Few loan providers, however, explain how the market price is determined.
The market price at closing should be the price available if the loan were delivered immediately. This is also the price quoted to new customers electing to float on the day you lock. Because the lock price is always higher than the float price, floating should save you money if interest rates don't rise.
The reality, however, is that in the absence of an agreement to the contrary, the market price at closing is what the loan provider says it is. And many say that it is the 30 or 45-day lock price, rather than the float price.
Assume That The Loan Provider Who Offers The Best Price On One Type Of Loan Will Also Have The Best Price On Another
It is common for borrowers to shop the loan they think they want, then change their mind later in the process. For example:
*They begin thinking they want a fixed-rate loan, then switch to an adjustable.
*They begin thinking they want a 30-year term, then switch to 15-years.
*They begin thinking they want a zero-point loan, then switch to 3 points.
Such switches may invalidate their shopping because the loan provider with the best price in one loan category may not have the best price in another.
One way to avoid this mistake is to retain an Upfront Mortgage Broker (UMB) to shop for you.