Friday, September 28, 2012

Commercial Construction Loan Financing Tips

Many brokers will encounter clients who require construction loan financing, some more than others. Commercial construction loan financing is usually required by developers and investors who purchase land that they would like to develop or are purchasing fully developed land in the form of a single or several ready to build lots. Land with an existing home or structure on it is most often referred to as "infill construction". In the event that a builder is simply improving an existing structure including for example a top up (second storey) or remodelling, we refer to this type of construction as a renovation. All of these examples most often require construction funding and apply to either residential or commercial real estate.

There are several different types of construction loans. When a builder or developer acquires land for development they will seek out a land loan often combined with a facility for land development. The land loan serves to close the land purchase while the development loan serves to fund the planning and development of the land so as to improve it for greater use such as residential or commercial zoning from agricultural for example. Following the acquisition and initial development a developer or builder will require financing to service the land which includes the installation of sewer, water and hydro and will require a land servicing loan. The next round of financing is usually to a builder unless the builder and the developer are one and the same. The builder will require a construction loan to build either a residential or commercial building.

Here are some quick tips you may want to keep in mind if you are representing a client who requires development or construction loan financing.

Lenders who offer construction loan financing will always hold back 10% from every advance in accordance with the Construction Liens Act save and except an advance on land. Borrowers need to be made aware of this for budgeting purposes at the outset to ensure that there is no confusion in the future.

It is important that your client has a good budget that includes a detailed breakdown of hard and soft costs and includes the interest reserve in the soft costs.

Be prepared to use a quantity surveyor whose job will be to approve the budget on behalf of the lenders and provide reports on progress of construction to the lender that certifies every advance in accordance with the budget. For smaller residential construction loans some lenders will use an appraiser to report on progress.

In almost all cases, lenders will lend construction loans on a "cost to complete" basis. This means that the funding program will be advanced in progress draws and will also be subject to 10% holdbacks in accordance with the Construction Liens Act as previously mentioned. This ensures that there is always enough money in the remaining budget to complete the project.
The presence of a first mortgage that was obtained for construction purposes can create a challenge if your client plans to obtain second mortgage financing as the second mortgage lender would be required to postpone every advance under the first mortgage or construction loan that has priority on title.

Offering commercial construction loans can be very lucrative for a mortgage broker or agent. An opportunity to arrange this financing is an excellent opportunity to learn about how you can diversify the range of products you are able to offer to your clients. Either co-brokering the deal through an experienced broker who specializes in construction financing or working with a construction loan financing lender who is willing to educate you and walk you through a project is a great way to gain experience and to be able to offer this type of financing to your clients.

Wednesday, September 26, 2012

What You Need To Know About A Hard Money Loan

With the way the economy is today, it can be very problematic to get an institutional or bank loan for residential investment or commercial properties. When determining whether to lend money or not, banks take into account a lot of factors and it can also take forever to find and get a loan from loan brokers. Between the reticence of banks to loan funds and the length of time it can take for a loan broker, a residential or commercial hard money loan can be your very best option to take.

There are 9 different types of hard money loans so you've got several options to select from that will suit your needs best.

1. Hard money aquisition loans are typically used to purchase specific property like platted land or improved property. If you can't get the funds in time to complete the deal from the bank, if there is a problem with liquidity or credit or the institutional lender's don't think the property is up to their standards, these types of loans are perfect.

2. You can use value added loans to increase your cash flow by renovating a property that has higher than normal vacancy rates. This loan is great to use if the income the property is generating could potentially be higher.

3. A good way to buy land for improvement is a hard money land aquisition loan. Banks and other lenders, including other private lenders, aren't financing many land deals at all so finding a hard money loan for property is going to be your best bet.

4. To go from point A to point B in a finacial circumstance, a great way to bridge the gap is a bridge loan. You can use these short term loans while you are waiting for financing through a bank to purchase a property. Instead of risking the chance of loosing a property by having to wait months for a bank loan, these loans can be closed on in a few weeks.

5. Construction pay off loans is designed to help contractors who have finished a property but it hasn't sold yet. This loan is used to pay off the existing construction loan so the developer avoids losses and doesn't have to short sell the property.

6. Foreclosure prevention loans quite simply keep property from going into foreclosure. Because of the damage this can do to a borrower's credit, a hard money loan can be the key to them keeping the property and keeping their credit good.

7. For help in bankruptcy, you can get a DIP or debtor in possession loan. For those who have had to file Chapter 11, this type of hard money loan enables them to get real estate out of bankruptcy court so it can be sold.

8. For those from other countries that want to purchase real estate in America and cannot get a loan from a bank, Foreign National hard money loans can help. A traditional source usually won't fund a loan for them; however, a private lender more than likely will.

9. Standby commitment or takeout loans are designed as a way for a contractor to secure funding from a bank to develop a property. Having a commitment of a hard money loan may be required before many banks will give a construction loan once the property is complete.

Both borrower's and contractors can use these options as leverage in their favor. A hard money loan is a lot quicker and easier to get because you may not can get a standard loan from traditional lenders . If you're in need of a loan for a real estate deal, take a look at a hard money loan and the hard money loan rates. It may make the entire deal come together.

Monday, September 24, 2012

All The Activities Which Could Be Enjoyed In The San Diego Area

If you're considering moving to the San Diego area, there are a number of things that you need to keep in mind prior to making your move. Among the most important of these things is the San Diego mortgage company you decide to go with to finance your loan. You could feel a bit intimidated having to select the idea company with all the options out there for mortgage lenders in the San Diego area. The particulars on the mortgage that you end up with should be entirely in your favor as long as you do not rush your decision at all and there are no hidden fees in the contract. Here are some of the things that you can do to examine your options when looking for a mortgage lender in the San Diego area.

Asking family members, friends or business associates who have moved recently are good places to start out. Good yet unbiased information can be found from those individuals closest to you in your life, where they are able to provide viewpoints that will be most useful for you in your search. While reading online assessments may be useful, learning particulars from close family and friends is more effective. As you're speaking with these people, you can assemble a list consisting of the lenders they recommend, while making another list of the ones they recommend you stay away from, if any. You can examine lenders individually once you have established a good starting point of potential companies.

Loan companies can be researched on their own in several other ways. To find basic information, the internet is a terrific place to look. Many company internet sites will include a lot of information you'll undoubtedly find useful. If you're looking for more specific information relating to the particulars of your situation that will affect the terms of your loan, you can call the loan companies in question for that information.

Another thing you may consider helpful is to invest in a mortgage broker to help you find the correct San Diego mortgage lender. Although it might cost you more money for the short term, a mortgage broker will help you get the deal that will work best for you and only you. While mortgage companies obviously try to find the best deals for their customers, it's the job of the people you speak with to set you up with a loan. A mortgage broker works with different lenders in order to figure out which one in particular will be the best one for you. A mortgage broker will also be doing the majority of the work throughout the process, sorting through all the possibilities to get you the best loan. A lot of the pressure can be taken off your shoulders when working with a mortgage broker, which makes life easier for you.

Buying a home is one of the biggest, if not the biggest, investment you'll make in your life. Staying patient and making level headed decisions is the most important thing as they can become aggravating the longer they drag on with the process. Avoid headaches down the road and consider when looking at purchasing a home to consider getting a mortgage broker to help iron out a great deal with lenders.

Thursday, September 20, 2012

How To Track Bank Account Transactions Manually

When a customer at the bank gets a hold of a statement in through the mail, the statement lists out all the transactions happened during previous month. The transactions include both incoming and outgoing, tallying up to a final sum which is indicated as the up-to-date account balance for the benefit of the customer. Without the benefit of the statement, the customer would be much more in the dark more with respect to the contents of the account. With the statement in hand the customer knows details such as the dollar value spent, the size of the income, and the present state of the account.

The fact of the matter is that this information becomes outdated almost immediately as the customer starts to use money. A simple ATM withdrawal means the account balance is not reflected in the monthly statement. The way to make sure one knows the state of finances even between statements is known as "bank reconciliation". The device to help one do so is the checkbook register - which is simply a little sheet of paper that is used for recording transactions.

What is the importance keeping track of this money? The larger fraction of bank customers have come up against deep reasons to do so. Indeed, whenever a check is issued with a value higher than the level of money in the account, two things happen. The check may not go through incurring a bounced check fee, or the check goes through because the bank covers it temporarily triggering an overdraft fee. In both cases there is a serious negative consequence.

The types of transactions are many. Monthly car payments by way of check can result in a penalty if there are not enough funds on the day the payment is being cashed.

Personal checkbook registers impedes the rotten luck of such errors occuring. For people who have trouble managing their finances but also find maintaining a checkbook register too burdensome, there are electronic alternatives which are faster and easier to use. These are merely calculator-like devices that can easily be carried around. They have special entry keys for the different kinds of transactions one might encounter related to the checking account.

Very recently the U.S. Senate implemented a series of consumer-friendly finance rules relating to how banks charge overdraft fees (this fee is incurred whenever a bank steps in and pads a customer's account whether or not the customer wants it). Basically a bank must ask a customer to opt-in to their overdraft fee program. However, the flip side is that without the overdraft fee, checks will bounce and cause other kinds of trouble. Therefore, it is still best to keep finances in check with devices like the checkbook register.

Sunday, September 16, 2012

Feng Shui Pi Yao

The Pi Yao or Pi Xie is a mystical creature that is a particularly powerful and auspicious creature of good fortune. It is said to have a voracious appetite that is infinite. The interesting part is that the Pi Yao does not have an anus, which means things only go in but never come out. It is therefore a favorite must-have for businessmen and merchants wishing loads of money rolling in without spilling out a dime. It is no wonder that Pi Yau can often be seen in banks, casinos, foreign exchange markets and finance companies in Oriental countries. One can often see Pi Yao being worshipped and offered with incense and flowers in business premises in countries like Thailand to attract sales.

Besides that, the Chinese adore the Pi Yao because of its very protective, obedient and loyal nature. It is believed that the Pi Yao will always try its best to fulfill its owner's wish and protect its owner from injuries. Because of these capabilities, smaller version of Pi Yao are often worn as an amulet or carried in one's bag wherever one goes. Many stories have been told where victims of car accidents or robbery assaults surprisingly escaped the ordeal unharmed and found out later that their Pi Yao amulets they were wearing or keeping had mysteriously broken into two or damaged. It is said that their Pi Yao had sacrificed themselves to protect their owner. Treat your Pi Yao like it's a real pet. Talk to them, pat them, rub them... a happy Pi Yao will go the extra mile to grant your wishes!

Pi Yao is also a wonderful symbol to appease the Grand Duke Jupiter or Tai Sui. Depending on your horoscope sign, you might be offending the Grand Duke in a particular year, directly or indirectly. If your horoscope sign is in conflict with the Grand Duke, you will suffer a year of bad luck and obstacles. Those afflicted with Tai Sui should display the Pi Yao where the annual Grand Duke Jupiter resides in your home as well as carry a Pi Yao protection amulet.The person with the chinese horoscope sign that is in direct conflict with the Grand Duke Jupiter MUST wear a Pi Yao amulet throughout the year of affliction to keep yourself from misfortunes. This practice is highly recommended by Feng Shui enthusiasts

Here is how you can use the Pi Yao to Feng Shui your way to a better life.

1. Those afflicted with Tai Sui should display the Pi Yao where the annual Grand Duke Jupiter resides. It is an extremely powerful symbol that will help to appease the Grand Duke Jupiter and dissolve bad luck.

2. You should place a Pi Yao if you have just moved into a new home or renovated or carried out building work or are having a run of bad luck. Display this figurine any where in your living room to keep yourself away from harm.

3. Many believe placing lottery tickets under the Pi Yao will bring good luck.

4. Place the Pi Yao at your work desk or reception counter to attract good fortune and protection from people with bad intention that may cause physical harm. Having a pair of Pi Yao in your business premises will ensure prosperity and good sales. In your living space, they ensure you will never run out of money.

5. In Flying Star Feng Shui, the Pi Yao made from metal (brass, bronze etc) is used to ward-off the evil influences of the malignant #5 yellow star and #2 black star. The #2 black star is also known as the Sickness Star' which brings illnesses and ailments to occupants while the #5 yellow star is the Disaster Star' that instigates fights, accidents and death. Placing the Pi Yao in the affected sectors will dilute these adverse energies.

Friday, September 14, 2012

JP Morgan Chase violates the Patriot Act, may fail.

Michael Yorba was a vice president for Always Consulting, whose CEO Bruce Griffith, had been convicted for armed bank robbery and forgery.

It was Michael Yorba who secured innocent victims for that mob in order to commit fraud and steal money.

Michael Yorba was directly involved in the REFCO scam having information which could have saved me a loss of money.

It was Michael Yorba who worked for Atrium Securities and Beeland Management who were responsible for the Refco scam.

His license as a commodities broker was revoked in 2007...all he did was open it up in another state. He was fired from most of the jobs he lists on his web site. ----------------------------- About Us Mid Island Homes is a multi-faceted company. We [Alfred Forsberg and Rickey Odrisco] are involved in real estate, trading, and golf. After retiring from the US Marshals Service, Rickey continued to play professional golf. He qualified for the US Open last year, but sustained an injury (temporary) which precluded him from playing. This year the only Albatross around his neck is the federal court system in New York

It was not until the attorney general from Texas along with the head of the US Marshals Service spent a week in New York explaining to the judges who is committing crimes and who is telling the truth, that they started to do anything at all. Anyway, our golf site can be found at ----------------------------- We are preparing for 10/2/08 to file in the Second Circuit Court of Appeals in the State of New York ordering a cease and desist order against JP Morgan Case and Lexon Insurance companies. We will also demand warrents be issued for the arrest of the CEO's and CFO's of both JP Morgan Chase and Lexon Insurance. At the trial - which will have to start in days - The Federal Marshal Service will be present to effect arrest. I understand that the judge may not allow media into his court...but I, like my business partner Marshal Rickey Odrisco, have sworn to protect America aginst all enemies, both foreign and domestic. We will do just that. Alfred O. forsberg an American

Sunday, September 9, 2012

Bad Credit Financing, Truck And Construction Equipment, Alternatives To Conventional Financing

There are options to conventional truck and construction equipment financing, bad credit financing is obtainable as long as additional qualified collateral is accessible to the niche institutions. Numerous applicants have bad or marginal credit, under 600, however they have free and clear assets that they have title to. These free and clear title assets may possibly be the bargaining chip that might make a financing deal go from unworkable to a credit approval..

Today's leasing market is in turmoil, many applicants that had good credit two years ago but workable less have marginal or bad credit nowadays. Countless businesses that require to expand or start up are locked out from normal financing. These applicants feel locked out of these present marketplace terms and won't deal with other leasing options.

Selected niche institutions offer these non qualifying applicants an alternative to traditional financing. The institutions will obtain as collateral certain qualified assets as security to initiate a banking deal. These lending arrangements usually run from 30-42 months depending upon the bank and qualifying assets involved.

The type of qualifying assets that these niche banks like to furnish are tractor sleepers, dump trucks, car haulers, excavators, bulldozers, boom trucks etc. The bank will qualify the possession you require to finance and at the same moment need additional assets that you own free and clear to quarantee the transaction.. If the collaterized assets have an auction value more than ,000 a piece and are at least twice the financing amount, there is a high-quality likelihood this transaction is workable. In addition, it is a big plus if the applicant is a homeowner.

Lets take an example, that an applicant has a credit score of 540, wants to fund a dump truck for ,000. He is a homeowner and has free and clear assets that he owns. Lets assume he has three bulldozers with an sale value of .000, 70.000 and ,000. In this example the summation of the first two assets equal 0.000 which is additional than 2 x the financed amount. This is the basic calculation to get us to the transaction qualified

Above is a basic example of this transaction. The minimums that each bank will qualify for is different, some are higher a quantity are lower, call for details. It is key at this stage to inform the readers that the cost of these financing arrangements are not cheap. You should understand the dynamics of the lending arrangement and ascertain your revenue stream can match up properly with the debt you will incur. In addition, the lenders will verify the marketplace value for all types of assets under their own in house formulas.

Additionally, it is key to communicate here is that these financial institutions have prepayment penalties up to 10-12 months on these lending opportunities. On the flipside, this leasing could give you the essential time to clean up your credit and pay off the lending deal prior than 30-42 months. .

A quantity of of the things obligatory to obtain the leasing arrangement completed is a signed and dated application, the summary page of your last three months personal and business bank statements. Additional info such as the 2008 and 2009 may perhaps be requested as well as a small write up on your business and/or business history.

Obviously as you have questions pertaining to this type of transaction, email us at Or contact us at 800-760-6863.

Favorable hunting for your special bad credit truck and constuction equipment financing.

Bad Credit , Truck and Construction Equipment, Alternatives to Traditional Leasing, Additional Collateral


Tuesday, September 4, 2012

Motivational Speakers: When To Play The Fame Game

If you have the budget and the buy-in from your organization to hire a famous motivational speaker, this can be a powerful marketing tool for your event. But how can you determine if a famous speaker fits your bill?

Every situation is unique, says Rich Libner, president of MCP Speakers, a speakers bureau that has recommended both hot and up-and-coming talent for events across North America. After more than 20 years in the business, Libner understands the value of knowing a client's needs and goals before recommending a famous motivational speaker.

The Benefits of Fame

Famous motivational speakers--be they celebrities, athletes, academics or business people--do a lot of your marketing for you. People are curious creatures and North America's tabloid culture means that a famous headliner will automatically attract attention and create a buzz for your event. Hiring a famous speaker can justify higher ticket prices and increase your attendance, particularly for events that are directed to the general public.

As an event planner, however, you want more than just to get people in the door--you want loud applause from an audience that feels it was worth the price of admission. Famous people are often performers, so they are experienced crowd pleasers. Many have a reputation that is based, not only on their celebrity, but on the contents of their speeches. Famous motivational speakers often have books, which give the event lasting impact and--if there is a book signing component to the event--allow the audience to meet the speaker and get his or her autograph.

When Not to Play the Fame Game

Fame, as the saying goes, has its price. Event planners should keep in mind the drawbacks of hiring a famous motivational speaker to avoid costly disappointment.

And cost is the first place to look. A well-known speaker will always cost more than lesser-known talent, Libner says. To hire someone as famous as Jay Leno, for example, the speaker's fee can be justified for high profile fundraising events where fame will guarantee high-volume (and high-priced) ticket sales. A speaker whose fame is limited to one country, such as David Chilton, author of best-selling Canadian personal finance book The Wealthy Barber, will have a lower fee. It's important to weigh the benefits of fame against the realities of budget. Consider whether there are better places to put your money to accomplish the same goals.

The reputation and attraction of famous speakers may come from their celebrity, not their ability to motivate others, so do your research. Choose a speaker who is also famous for her ability to influence and invigorate an audience, not just because she is a movie star or television personality.

Fame can be a distraction, so consider the possibility that hiring a famous motivational speaker may lessen the impact of your key message. And while not all famous speakers are prima donnas, a well-known or very popular speaker may not be as interested in meeting your specific needs, be they explicit objectives for the event, desired take-home messages for the audience or your schedule.

MCP's Famous Four

MCP Speakers represents some of the most impressive names in motivational speaking. Here are our "famous four," chosen for their celebrity status and their ability to leave a lasting positive impression on your audience.

Dr. Roberta Bondar, Canada's first female astronaut and published author, is now a highly requested motivational speaker who has inspired audiences at Yale University, Pfizer, and the FBI. She tailors her talks to meet the objectives of every event and her reviews describe her as "mesmerizing," "inspirational," "enlightening," and "exuding intelligence, great warmth and compassion."

Steve Donahue may have crossed the Sahara Desert, but his motivational speeches are never dry. A master storyteller, Donahue combines wit and warmth to emphasize the importance of the journey in a world where the destination can seem like the only thing that matters. A popular author, Donahue was named Sharing Ideas Magazine's Consummate Speaker of the Year along with Margaret Thatcher and author Tom Wolfe in 1994.

Yossi Ghinsberg spent three weeks alone and lost in the Amazon rainforest, a journey of survival that has been documented by the Discovery Channel. He is now a best-selling author and source of inspiration to audiences worldwide. His storytelling has been called "magical," "breathtaking," and a "truly inspirational experience."

Bill Carr knows that change may be the only constant, but sometimes it's more than we think we can handle. Think again. Using theatrical techniques employed by actors, Carr helps audiences "see ordinary things in extraordinary ways." Available as a keynote or an interactive workshop, Carr's presentations are customized to meet the needs of the audience. He is one of MCP's most popular speakers.

When To Go With Undiscovered Talent

If you don't have the budget for a big name or you want to keep the focus on the message rather than the medium, a reputable speakers bureau will be able to direct you to motivational speakers who wow audiences but are not celebrities--at least not yet.

Former Edmonton Eskimos kick returner, Henry "The Gizmo" Williams, for example, has audiences rolling in the aisles and reaching for their hankies as he recounts his climb from poverty to success as a record-setting pro football player. Cheryl Pounder, a two-time Canadian gold medallist in hockey, is another member of MCP's up-and-coming talent pool. Andrew Brash [link to bio], a Canadian mountain climber who forfeited his dreams of reaching the summit of Everest to save the life of an Australian climber who had been left for dead by another team, has become a popular speaker who inspires audiences to be their best selves using humour and drama.

Make sure you choose the motivational speaker for your next event based on the speaker's impact and not just their fame. The best way to do this? Look to a credible speakers bureau for advice.