Anyone that invests in property wants to sell it on for a profit. That is rule number one in the real estate investment handbook. Yet, it is something that lots of investors can seem to do for neither love nor money. In fact, thousands of investors in the real estate market end up losing money. Why? They lose money because they don’t make the right moves. Selling a property is a like a game of chess, and only the grand masters win. If you want to sharpen your skills, take a look at the following.
Think About The Resale Value
The fact that you have bought the property for X amount of money means you need to upgrade it to get your money back. Houses are like cars in the sense that no one will pay the same amount for it if it is second-hand. The only way to boost the price is to add features that homeowners want and will pay extra for to save them the hassle. For example, a conservatory will add a lot onto the value of your home. But, it saves them from paying for it and having to build one. In the end, everyone’s a winner. The trick is to find the features that add money and don’t cost a fortune.
Sell It Quickly
Sorry to be the bearer of bad news, but a slow sale isn’t good for business. That is bad news because properties don’t tend to go that quickly anymore. In fact, some can stay up for sale for months and years. The longer it goes on, the more you have to cut the price. Otherwise, you won’t be able to entice a buyer into making a bid. The perceptive among you will understand that you have to sell your home fast to make a profit. A quick sale prevents the sale from going down dramatically. For more info, follow the link above.
Find A Good Realtor
A good realtor is worth their weight in gold. The first thing to note is that they are professionals with skill and experience. So, they know how to sell a property. And, they also know how to spark interest in a property. From your point of view, that is brilliant. It is brilliant because the demand bumps up the cost of the property. When you have a multitude of interested parties, you can start a bidding war. At the end of the war, the one with the most money wins. Can you already see money signs in your eyes?
Choose When To Sell
Just like a chess game, you have to decide when to make the right move. You want to make a move sooner rather than later. At the moment, people are feeling better about their finances. As a result, interest in the housing market is starting to boom again. If you leave it too late, you could miss out on this initial boom. That will leave you with negative equity on a property that you can’t sell for years.
These tips won’t assure you a profit. But, they will make it more likely to happen.
There are many times in your life when you might require a lawyer. But, how do you hire the best one for the job? In today’s piece, I’ve written you a short guide on hiring legal representation:
Check Their Track Record
It can be hard to figure out whether or not you’re hiring the best lawyer possible. One easy way to determine this is if you check their track record. See how many cases they’ve won and lost over the years. Typically, the best lawyers will brag about their record. If they win more than they lose, you can bet they’ll let everyone know about it. It will be plastered all over their website to show off how good they are at their job. If you can’t find anything about their track record, then you should enquire. To put yourself in the best possible situation, you want a lawyer that wins the majority of their cases. It’s also important that you take their experience into account as well. You need someone with years of experience behind them, as this can help them get the result you need.
Look For Specialists
Different legal cases require a different type of legal representation. There are many types of lawyer that are best suited for particular legal needs. If you need help with a personal injury claim, then you should go to a personal injury lawyer. Should you require help with a will, then there are firms like Ronald Fletcher and Co. that specialise in this area. Different people have different legal needs; it’s important you find a specialist lawyer that fits your requirements. It doesn’t make sense to hire someone that rarely ventures into the legal field you need help in. When looking for lawyers, check what services they offer and whether or not they fit your case.
Always Check For ‘No Win No Fee’ Offers
I find it’s crucial that you look for a law firm that offers no win no fee on some of their cases. This means that if they don’t win, you won’t have to pay them a penny. You find these offers in most personal injury and negligence cases. I think it’s essential to look for this, as it can save you lots of money. No one wants to pay for a lawyer that ends up losing their case. By hiring someone on a no win no fee basis, you give yourself a bit of security.
Understand Your Budget
The final piece of advice I can give you is arguably the most important. It’s key that you understand your budget and don’t pay for more than you can afford. You must recognise that legal disputes can go on for a very long time. Overpaying for a lawyer can mean that you end up struggling for money.
There are many problems in life that can be solved with the help of a lawyer. It’s important you realise how to hire one correctly. Hire the wrong lawyer, and you could end up in a very bad financial situation.
Tags: attorney, business, costs, economy, law, legal, money, rates
Budgeting, Business, Law, Miscellaneous
Working from home is something many of us wish we could do. It gives you control and freedom over your schedule and workload. As well as increasing the time you spend with your family by removing long commutes to and from work. But many people overlook their security and how it can effect their new business venture. Regardless of what type of business you are running, not having a secure home office can be dangerous. A burglar can easily gain access not only to your business equipment but to the rest of your home too. So to reduce the risk of this happening, use these simple ways to start boosting your security.
Install computer security
Burglars are not the only threat to your home business. Hackers, identity thieves and cyber criminals could also target your business. The tablet, laptop or computer you use for your business most likely has plenty of vital information on it that assists you in your daily task. These can include customer details and bank records. If hackers got hold of this information, they could quickly steal from you and ruin your business. So it’s essential that you install computer security such as anti-virus, firewalls, and anti-spam. Passwords are also something you should regularly be using. Keep this software regularly up to date to ensure your business records and files are protected.
Check your office windows and doors
Whether your office is upstairs or downstairs, checking the windows and doors is an integral first step. Firstly, you need to check the locks are fully operable. If they aren’t, you need to have them replaced or repaired by a professional. Deadbolt locks are a popular choice as they are difficult to break into. Check the frames both inside and out to make sure they cannot be pulled off or tampered with. These too will need to be repaired or replaced if not up to scratch. You can also add security screen doors and windows to your home office. These will act as a deterrent to thieves while also allowing plenty of sunlight to enter the space.
Keep your keys and codes hidden
If you leave keys in a door or have your safe code on display, thieves will be more tempted to break in. As horrible as it is to believe, even people you know and invite into your home can take advantage of this. So always keep all keys to your home and home office out of view and preferably locked away somewhere safe. Choose codes that have sentimental value for alarm systems, safes and briefcases. This will make them more memorable, just try not to make them too obvious. It may be inconvenient to have to do this, but it with improve your security no end.
Now you know what you have to do, make the effort to get your security up to a high standard. As well as protecting your home, they can also protect your livelihood. So don’t tempt burglars in and implement these security boosting techniques as soon as possible.
If you are not able to keep your new business’s finances under control, then things can spiral pretty quickly. Businesses only succeed when they are financially secure, so here’s how to keep your money issues in order.
Budget
Budgeting is something that every business should do. If you are not budgeting for the year ahead, then you will face problems later on down the line. A strong budget will outline how much money you aim to bring into the company through revenue streams. And it will also outline how much you plan to spend. Then you obviously need to make sure that you make more money than you spend. Otherwise, you’ll make a loss, and that’s clearly not what you want. You can take advantage of loans and maximize loan budget in order to stretch your cash a little further if you really need to. This should all be prepared and planned out in advance though.
Organize Tax Documents from the Start
Nobody particularly enjoys paying taxes, but it has to be done. And failing to pay your business’s taxes is a criminal offence, so it’s not something that you can afford to ignore. Making sure that you pay the right amount of tax and meet all the relevant deadlines can be a challenge though. If you are not properly organized, then the whole task becomes so much harder than it really needs to be. So, you need to make sure that all your payroll documents, tax deductible expenses and other paperwork are kept in order. Then, when it comes to filling in your tax return, your life will be so much easier.
Consider Seasonal Cash Flow
Many businesses will see variable sales rates over the course of the year. This is pretty obvious for some companies. For example, a company that sells sunglasses will sell more in the summer than the winter. This is just common sense. But there can also be season cash flow variations for businesses operating in less obvious sectors too. You need to get to grips with your company’s sales cycles as quickly as possible. Once you know when your sales are at their highest and when they dip, you can organize your finances accordingly. If you don’t, you could be caught short when those sales dip.
Always Ask for Discounts
The amount of money you spend is one of the key financial considerations for your business. If you are spending more money than you need to be, that extra money will eat into your finances. Whereas, if you were to cut the amount of money that your business spent, there would be less pressure on your sales efforts. You can afford those sales dips if you are keeping your monthly expenditure as low as it possibly can be. One of the things that you should always do is ask for discounts. If you have suppliers that you are buying from in bulk, then you should be able to get some for of discount from them. This will certainly be possible if you can show them loyalty.
Tags: budgeting, business, capital, economy, financial planning, loans, money, tax
Budgeting, Business, Financial Planning, Money, Tax
There is no point in leaving all your cash in your current account. The interest rate will only be fairly low. It is much more advisable to move your money into a better investment that can help it increase. Of course, leave some money in your current account for everyday needs. But all your savings? It’s better off to invest them. If you are a complete novice when it comes to investing, it can be a very daunting prospect as there is a slight risk that you could lose some money. Here is what you need to know before you start.
Diversify
One of the big things to remember is the importance of diversifying. This helps you reduce the risks of investing. What does diversifying mean? Simply put, it is when you split up your money and invest in different methods. This is a much safer alternative than placing all your cash in just the one investment. Diversifying reduces the risks of investment. Because you are essentially spreading your eggs across different baskets.
Stocks And Shares
One of the most common ways to invest your money is in stocks and shares. This involves buying some stocks and shares of a company that is floating in the stock market. You will be able to buy as many as you like, although some companies have a minimum purchase limit. Before you commit to buying a company’s shares, you need to do your research. If the company is currently doing well, then there is a good chance the value of your shares will increase, leaving you with a profit. However, if the value falls, you could end up out of pocket. If you do your homework, you can make a lot of money over a long period of time!
Funds
Instead of investing directly in stocks and shares yourself, you can put your money into mutual funds. This is, basically, where you get a professional to invest your money for you. You transfer the money you want to invest to this financial advisor who then places it into a fund, so he can keep an eye on your money on a daily basis. This is known as a mutual fund, and your advisor is now the fund manager. There are a few different types of funds available. For self managed super fund advice, check online.
Savings Account
One of the safest ways to invest money is to place it in a high-interest savings account. There is no risk involved with a savings account, as the amount of money held in there won’t change depending on the economy. It is an easy way to get more money, though. The more money you have in the account, and the higher rate of interest, means you can get a substantial payment from your bank each month.
So, to be clever with your money, sometimes you have to take a risk and invest. If you do your research, you’ll find the benefits far outweigh any potential risks!
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Anyone that invests in property wants to sell it on for a profit. That is rule number one in the real estate investment handbook. Yet, it is something that lots of investors can seem to do for neither love nor money. In fact, thousands of investors in the real estate market end up losing money. Why? They lose money because they don’t make the right moves. Selling a property is a like a game of chess, and only the grand masters win. If you want to sharpen your skills, take a look at the following.
