Archive for January, 2012
January 30, 2012
Continued from “Buying a Small Business in 2012, Part One”.
You’ve now identified a business opportunity and completed a tour of the business facility. The seller’s answered your initial questions and provided you with business financial information. Once you review the income statements, balance sheets and tax returns, you can decide if you want to make an offer. There are two ways to communicate the offer to purchase the business. You could choose to utilize a contract or binding agreement or you could utilize a Letter of Intent or non-binding agreement. A contract must be written by an attorney and immediately binds you and the seller, and will require submission of earnest money. You’ll include certain contingencies in the contract that must be satisfied and the contract’s highly definitive. (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, business, business brokerage, Buyers, Commercial Real Estate, Dan Hinson, georgia, Metro Brokers, Real Estate, real estate agent, success, Tips
Posted in Agents, Buyers | 3 Comments »
January 23, 2012
My heart goes out to the good folks in the mortgage business these days. Business is TOUGH!
A significant percentage of buyers come equipped with enough bad credit baggage to fill a truck, what with having done a recent short sale or having a recent foreclosure or deed in lieu of foreclosure (same as a regular foreclosure, but it sounds nicer) or strategic foreclosure (a purposeful decision to walk away from a debt they CAN pay but don’t WANT to pay – don’t get me started on these).
Combine that with the over-reaction of underwriters making it nearly impossible to qualify for a loan if the buyer has to put gas in the SUV on the way to the closing (“Oops, sorry, that gas charge 15 minutes ago just bumped your debt ratio out of whack”) or if part of the buyer’s down payment is the gift money received from Grandma for graduation and Grandma made the money having a garage sale or the buyer’s publicly traded employer has recently filed a negative outlook report with Wall Street or any number of other scenarios.
Add in the burden of complex Good Faith Estimates which have to be redone every time anyone sneezes and you have a frustrating mix. (more…)
Tags:ann bone, atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Consumer Protection Financial Bureau, Federal Trade Commission, Frank-Dodd Act, georgia, good faith estimate, loan officer, marketing, Metro Home Mortgage, mortgages, Real Estate, real estate agent, real estate career, success, Tips
Posted in Agents | 3 Comments »
January 17, 2012
You may be wondering if 2012 will be a good year to purchase a small business. Can small businesses generate profit in a difficult economy? These are fair concerns and certainly require the small business buyer to move forward with adequate caution. If you’re determined to own a business, you can find what you’re looking for by establishing specific search parameters and purchase criteria.
1. Research Well Performing Businesses
First, complete the necessary research to identify a short list of business types that perform well in a weak economy. Determine if franchise opportunities provide a greater chance of success. Franchises historically have a higher start-up success rate and give you a proven business system, training and name recognition. You’ll have to decide if you want to start a business from the ground up or purchase an established business. The established business will cost more however, you get to avoid the painful start-up period and you can see current and past performance. (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, business, business brokerage, business buyer, Buyers, Commercial Real Estate, Dan Hinson, georgia, Metro Brokers, Real Estate, small business, success, Tips
Posted in Agents, Buyers | 3 Comments »
January 9, 2012
When entering the New Year, it’s common to set goals for yourself. In real estate, those goals are translated into more clients, more listings and, most importantly, more closings. Just remember to not go overboard.
Sometimes, I hear agents say that their goal is 50 or even 100 transactions. Even a team of agents would have trouble meeting these numbers, and I hear this from a single real estate agent. If that wasn’t bad enough, they only completed 10 transactions the prior year.
Setting lofty goals is a good practice, but it’s also important to set goals that can be reached. When your ambition is too high, it can begin to look daunting and unattainable, which could end up setting you back.
Here are some realistic goals that will help you get on the right track in 2012: (more…)
Tags:2012, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, georgia, goals, Kevin Levent, local boards, lofty goals, Metro Brokers, New Year's, Real Estate, real estate agent, realistic goals, Realtor, resolutions, sphere of influence, success, Tips, top agents
Posted in Agents | 7 Comments »
January 3, 2012
It’s 2012, and what’s a better way to start the New Year than saving money! Energy costs continue to rise, and there are many ways to whittle away at those utility bills.
Replacing an older furnace, swapping out single-pane windows for more efficient double- or triple-pane models, and considering a move toward solar energy are all ways to make a dramatic difference in your home’s energy consumption, but none comes cheap. While you wrestle with whether or not to make these larger investments – which certainly pay off in the long run – there are any number of inexpensive, subtle shifts you can also make that will have you working toward the same goal much more quickly and affordably. (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, compact florescent light bulb, energy costs, hvac, Metro Brokers, Real Estate, saving money, Tips, Tisha Gay
Posted in Agents, Buyers, Sellers | 2 Comments »
You’ve now identified a business opportunity and completed a tour of the business facility. The seller’s answered your initial questions and provided you with business financial information. Once you review the income statements, balance sheets and tax returns, you can decide if you want to make an offer. There are two ways to communicate the offer to purchase the business. You could choose to utilize a contract or binding agreement or you could utilize a Letter of Intent or non-binding agreement. A contract must be written by an attorney and immediately binds you and the seller, and will require submission of earnest money. You’ll include certain contingencies in the contract that must be satisfied and the contract’s highly definitive. (more…)
