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Brokering Real Estate: Can Anyone Get Into The Business?

by Dallas Appraiser L.L.C. on 06/07/14

Brokering Real Estate: Can Anyone Get Into The Business?

keywords:

#DFW_Real_Estate, #DFW_Home_Appraisal, #DFW, #Appraisal, #Appraisals, #appraiser, #Appraisers, #Texas

Brokering can come in many different forms and is carried by different professional hats, like those involved in serving as go-between for export/import business, helping negotiate document certification, shipping arrangement, and custom fees, finding exotic cars for the clients, and arranging for buyers and sellers to convene and exchange bonds and stocks. Perhaps, among the many interesting ones is brokering real estate, where professionals are involved in arranging for people to find customers who will buy their properties, help negotiate and close the transaction successfully, and then, get a commission fee.

Brokering real estate can be a simple yet lucrative business for the reason that you, as a broker, get paid whenever services or goods are being successfully bought, sold, or traded. And the thing is, you don't have to own a property or even inventory to take advantage of this profitable market. You simply enjoy the independence or freedom you cannot find in any other business endeavors. If you are skillful, you have the potential of making it big in the industry and amassing great wealth, and all this without the need to invest any money for the overhead, equipment, or the start-up expenses.

A lot of people are involved in this lucrative business working as real estate agents. But can anyone get into real estate brokering?

Not really. Why is this so?

Before an individual can work as real estate agent, it is a prerequisite to have a license to work as such. But the good news is it is not entirely difficult to obtain a license. In most cases, there are minimal requirements or qualifications to become a licensed real estate agent. As states vary with their imposed requirements and qualifications, you have to check and ensure you know the eligibility criteria in your specific state before the acquisition of the license.

What are the basic requirements/qualifications?

- the person must meet minimum age limit set, in many cases, 18 years old and above.

- educational qualification, mostly a graduate of high school and above.

Meeting these two basic qualifications will make you eligible for the next requirement

- enrollment and passing the pre-license training.

Obviously, getting into real estate business is a lot simpler than getting into other kinds of business endeavors or professional areas. Added to that is that there are real estate schools or institutions offering real estate license training, so anyone who is interested will never have a tough time getting involved in the industry.

Even individuals who don't want to leave home for specific reasons can still be part by enrolling in online real estate schools to obtain the license. If you want to get the real concept or ins and outs of being a real estate agent or the whole real estate business, it is advisable to take a long duration real estate course such as those spread for 1 year.

Enrolling into a course will allow you to learn the basic understanding plus various aspects, like contracts, deeds, ownership transfers, real estate law, and others, of real estate. After passing the training, you will have to take an state exam, after passing of which, you will undergo and pass another real estate training.

After these procedures, you will now be eligible in brokering real estate and start climbing the ladder of success until you become one of the top agents or brokers in your state. Speaking of climbing the ladder, you may still want to further your real estate knowledge by taking short-coursed education so you would even be more competent in the specific field you have entered.

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Book Keeping For Your Real Estate Business: Choosing Your Real Estate Book Keeping Provider

by Dallas Appraiser L.L.C. on 06/07/14

Book Keeping For Your Real Estate Business: Choosing Your

Real Estate Book Keeping Provider

Keywords:

#DFW_Bookkeeping, #DFW_Real_Estate_Bookkeeping, #Real_Estate_Bookkeeping, #DFW, #Real_Estate, #appraisal, #Appraiser, #Texas

It is required by law for businesses, whatever the

size, should keep a record of every financial

transactions of the business. The records will then be

presented to the government on tax time to determine

how much tax businesses have to pay and how much tax

returns they will get. If you are an owner of an online

business, then you might want to find book keeping for

your online business as this will make it a lot easier

for you to run your business.

Looking for a book keeping service can be quite hard.

Although there are several companies that offer book

keeping services, you have to remember that only few

can offer the service that you want. Even if you are

just a small online business owner, you have to

remember that you deserve nothing less. With a good

book keeping team, you will have a chance to bring

success to your business, but if you choose a book

keeping company that does not provide high quality

service, it can lead to losing money and even complete

bankruptcy.

If you do not know what to look for in a book keeping

company to give your book keeping job, then here are

some of the basic things that you should look for.

The first is that the book keeping company or the book

keeper you outsource your book keeping jobs to should

be qualified. Basically, you are the only one who will

be able to judge if the book keeping company is

capable of doing its job well. However, you have to

remember that there are general qualifications that

you should look for. For example, a good company that

can offer you good services does not only have to have

qualified people to do the job, but also have people

who are experienced enough to do it. Always remember

that a book keeper does not have to hold an accounting

degree. He or she should also have experience in this

kind of job and they should also understand the

mechanics in business, especially about financial

transactions.

The second is that the book keeping company should

have the right technology. What this means is that

they should already have their own software or program

designed for book keeping. This will save you a lot of

time and money and it is also a big plus for your

business as book keeping programs are designed to give

comprehensive reports and services. And, more

importantly, the staff in the book keeping services

company should be able to know how to work them.

As a client, the book keeping service you hire should

provide you with good support. A good support is not

just about giving you advice on financial problems and

gives you the reports on a regular basis, but support

is about letting you contact them any time of the day.

They should also answer your grievances and disputes

immediately.

A good portfolio is also an important thing that you

should look for when hiring the services of a book

keeper. The more companies and businesses there are

that hires their services, the better their service

may be. You have to remember that the more clients

that the book keeping company has, it will mean that

they are trusted.

Remember these tips and you can be sure that you will

find the right book keeping service for your online

business. With these things, you can be sure that you

will save time and money and also focus more on your

business.

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Bicycle Realtors: The Next Generation in Real Estate Marketing?

by Dallas Appraiser L.L.C. on 06/06/14

Title:

Bicycle Realtors: The Next Generation in Real Estate Marketing?

Word Count:

479

Summary:

For cycling enthusiasts who have to find a home, the bicycling realtor would be the obvious choice - after all, this person will know what to look for when you say you want safe storage for your $3000 touring bike or even a decent area for your $50 commuter bike. They'll understand when you say that you need a decent workshop with easy-in, easy-out access.

Keywords:

#marketing, #real_estate_marketing, #green_realtor, #Appraiser, #Appraisers, #Appraisal, #Appraisals, #DFW_Home_Appraisal

Article Body:

They're mean. They're green. And they're going to help you buy your next house. There are a growing number of realtors who are taking green home buying to the next step and using bicycles to show their clients potential places to hang their helmets.

If you're looking for environmentally friendly home resources, a cycling enthusiast or even just someone who is dreading a day in a hot car, driving from house to house, a cycling realtor may be right for you. This group of realtors are not only using an eco-friendly way of connecting you to the right house, they are also aware of the issues facing the environmentally sensitive home buyer. Casually cycling from home to home can be a lot more relaxing than a tense time in the car, and it's healthier for you, too.

In a search for bicycle realtors, you find that most of them aren't just into cycling for the health benefits; they are concerned about their community's environment. They may use a car in bad weather, but they believe that using a bicycle when at all practicable is the ethical choice for today's realtors. Along the way, you'll find that a realtor who bicycles as part of his job is also cognizant of the environmental impact of real estate on the earth. For the person looking to buy a house that is energy-efficient and is less of a burden for the earth to carry, a realtor who believes in bicycles is a good one to consider.

For those who are not die-hard cyclists, the bicycle realtor may still be a good choice. You would be surprised at how much less stressful a house-hunt is if you spend a good part of the day leisurely cycling from one house to the next. Even if you're determined to use the car to get around, that's okay. Just don't be too surprised if your realtor gets there before you on two wheels!

Finding out more: Chris Chopik, the pedaling force behind BicycleRealtor.com is one force behind this campaign, being a both car-free realtor and an environmental activist. The website BicycleRealtor.com is currently taking registrations from realtors who want to market themselves as BicycleRealtors. It is the goal of the website to become a resource for those who are interested in this new breed of real estate agent.

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Make Money through Book Keeping For Your Online Business

by Dallas Appraiser L.L.C. on 06/06/14

Make Money through Book Keeping For Your Online Business

keywords:

#DFW_Bookkeeping, #Real_Estate_Bookkeeping, #Money

#DFW_Real_Estate_Bookkeping,#Appraisal, #Appraiser,

#Texas

First of all, book keeping is a full time career or a

part time job that is perfect for any person who wants

to earn some extra cash in their own home. The great

thing about book keeping is that you do not have to buy

expensive equipments or worry about insurance for your

business as well as planning consents. Also, book

keeping is not that hard to do. If you know how to do

simple arithmetic, then you will be able to easily

learn how to become a book keeper. So, if you want to

earn some cash, you may want to try book keeping for

your online business.

First of all, there are a lot of people who have no

formal book keeping training or people who do not have

a degree in accountancy who became successful in book

keeping as their online business. Today, you have to

consider the fact that many business owners do their

own book keeping at home for their annual tax returns.

You first need to know and apply taxation rules and

other factors. Keeping a clear record of income and

expenses of a business that you do book keeping for is

also important. Although book keeping for others as

your small online business can earn you some cash, you

have to consider that if you want this to be a

full-blown career you will want to study about book

keeping first in order to become qualified as a book

keeper.

So, here are some of the things that you should know

about book keeping.

First, you have to remember that every type of

business whether it is large or small is required by

law to keep books where everything financial are

recorded. What this means is that all the financial

transactions of the business should be recorded. All

these things can be done manually through ledgers.

However, it can also be done with the help of a

computer by using spreadsheets or a dedicated software

for book keeping.

Most business owners who rely on manual book keeping

will tend to keep invoices, receipts, utility bills

and other scraps of paper that affected their business

financially in a shoe box. When tax time comes, the

box is handed over to the book keeper, such as you,

and should be able to transform the mess in the shoe

box in a formal looking record of the financial

dealings of the business.

Book keeping as a career is a rewarding one. Whether

you want to do it as part time work or a full time

career, you will see that anyone can become a book

keeper and work from home as a freelancer. In fact,

you can even set up a website where you will offer

your book keeping services and start an online book

keeping service.

Book keeping is a great career that can open up a lot

of opportunities for you. In fact, a book keeping

professional qualification can be the first step to

become a qualified accountant and open up a lot of

well-paid career opportunities.

If you want to become a book keeper, it helps if you

take book keeping classes. Today, most local colleges

have book keeping classes available. Some also offers

distance learning programs where you can learn how to

become a book keeper right at your own home.

So, if you need to earn some extra cash, you are good

at basic arithmetic, and are organized and neat, then

you may want to have book keeping for your online

business. With this kind of online business, you can

be sure that business owners will turn to you to get

their books done.

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Best Investment Real Estate Locations

by Dallas Appraiser L.L.C. on 06/04/14

Title:

Best Investment Real Estate Locations

Word Count:

428

Summary:

What are the best investment real estate locations, and how do you find them? Start by asking the right questions.

Keywords:

#DFW_Real_Estate, #DFW, #Appraisals, #Appraisers, #Appraiser, #Appraisal, #Texas

Article Body:

Where are the best investment real estate locations? If you have enough experience investing in real estate, you can make money almost anywhere, but there are always places that are better or worse for real estate investments. For maximum profits, you want places that have a better demand/supply ratio. You can use the questions below to find them.

Real Estate Demand

1. Does the area have decent job growth? Ask local authorities and use census information. Ideally, you want to see job growth equal to or exceeding population growth. You also want areas with professional jobs moving in. It is estimated that for every professional job created, there are four service jobs created, and all those employees need a place to live.

2. Is the population growing? You can check the US Census figures online, or ask the local government if they have the statistics. Stay away from areas that have little growth.

3. Is there a decent quality of life? It's subjective, but important. Are there theaters and bookstores? Count coffee shops and cafes. Trendy areas usually have increasing demand for housing. It's also a good indication of a high quality-of-life if people are willing to take lower-paying jobs just to live there.

4. Is there wealth in the area? It's a good sign when there is some degree of wealth in a town. Look for nice homes. Wealth means everything doesn't die when the economy slows.

Real Estate Supply

1. Number of homes for sale? Lower supply of homes for sale means upward pressure on prices. This indirectly drives up rents as well, which makes for better investing.

2. New construction? Census figures can tell you what's happened over the last ten years. Check with the local authorities to see if the the number of housing units they've issued permits for is more or less than the expected population growth.

3. Rent and vacancy levels? Rents have to be high enough, and vacancies low enough to justify investing. When we first came to Tucson, every building had vacancies We saw a man holding a sign that read, "Apartment - $250 Per Month." A great place for renters, but not so great for landlords.

4. The available land that is build-able? Of course, less available land is better for future appreciation. When the land runs out, the prices start accelerating upwards.

When you use these questions to compare various towns and cities, you'll see the differences more clearly. You'll have an idea about how housing demand compares to supply in each. This will help you pinpoint the best investment real estate locations.

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Online Bookkeeping: Redefining Your Real Estate Business

by Dallas Appraiser L.L.C. on 06/04/14

Online Bookkeeping: Redefining Your Real Estate Business

Keywords: #DFW_Real_Estate_Bookkeeping, #Real_Estate_Bookkeeping, #Bookkeeping_DFW

Modernization this is the main reason for the

evolution and development of numerous things. Even the

simplest test is made even more modernized. Business

has to stay updated. With different modern

possibilities, even companies are holding and

redefining the way they organize the date & document

into a simpler context. This is where online book

keeping for any kind of business comes

It can be dubbed overrated if though that everything

that the physical being can do, the virtual gadget can

do better and faster. This is why most business either

small or big scale, are depending on book keeping

forms for the convenience of accessing histories or

any kind of document rendered.

Business owners can take good advantage of book

keeping services online that are largely available

these days. Transactions are mostly done via the

internet which gives no necessity to go out and meet

agreeing parties. What is good about online

bookkeeping is that, it will lessen the company’s

burden on tons of paperwork and when the need arises,

every single financial report will be there right at

your doorstep. The competitiveness of online

bookkeeping is fairly the same compared to physical

ones.

Redefinition of online bookkeeping services can be

accounted for the good things it can do to the

company. Through its efficient recording, it can

easily trace the company’s loss and gain. It can

clearly predict if the company is having a financial

crisis or development through strict monitoring of

data being given by the company. And because financial

records are updated on a regular basis, it had made

easier on the company’s part to determine how the

current status is working out.

A very effective financial bookkeeping system will be

the perfect basis for foreseeable success and

development of any business. Because online

bookkeeping services are always available, either day

or night, the business owner does not have to

necessarily hire anybody to do the tedious task. He

will only need an internet connection that is secured

to keep track on all records.

One main good reason why online bookkeeping service is

becoming popular these days is the fact that it helps

provide information and advise that may greatly affect

the company’s decisions. Furthermore, business owners

can easily acquire sources for capital and bank

financing with proper bookkeeping. This happens when

the time comes wherein the company needs a loan.

Necessarily, it needs to gather all projected

statements for the prior and current years that will

be an additional good impact.

A clear financial picture which, online bookkeeping

services can offer, will help the business be

associated with other investors or companies through

firm financial records that will encourage associates.

Deriving a budget can be easier with bookkeeping

services. Reports will give the owner a clearer view

on how much should his business expenditures will hold

and will give a genuine forecast on the cash needed.

Budget will always speak for the company’s stability.

Income tax returns can no longer be a burden for

online bookkeeping. Services can cater for its

preparation. A good financial statement will always

result to easier preparation of accurate tax returns

and on-time filing. The owner does not have to be

charged for payments which are overdue.

Finally, distribution of profits can be easily

attained. Especially if the business is affiliated

with corporations or other companies, determining

accurate profit distribution is possible. For as long

as the service lives up to the owner’s expectations,

your business will always be a foreseeable success

through online bookkeeping services.

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A Real Estate Formula

by Dallas Appraiser L.L.C. on 06/04/14

Title:

A Real Estate Formula

Word Count:

439

Summary:

A great real estate formula? There are many. This one is for when you already have some capital and want a great return.

Keywords:

#real_estate, #real_estate_investing, #DFW_Real_Estate_Appraisal, #Real_Estate_Appraisal, #Appraisal, #Appraisals, #Appraiser, #Texas, #DFW

Article Body:

It was a simple real estate formula. The ads ran in our small-town newspaper for years before I realized exactly what was going on. They were always the same: A house for sale with 5% down and payments of 1% of the purchase price. Maybe a three bedroom home for $90,000, for example, with $4,500 down and $900 per month payments.

When a friend started doing the same thing he explained the process to me. It was a way to get a great return on capital, and it was the opposite of buying with no money down. There is no down payment at all when you buy, because you buy for cash.

<B>The Simple Real Estate Formula</B>

You probably know that when you buy for cash, you can often get a much better price. With no financing contingencies in the offer, and the promise of a faster closing, sellers are willing to sell for less. You can offer $95,000, for example, on a house that might be worth $108,000. If you can't get it for less than, say, $99,000, you walk away - there are always other opportunities.

Once you buy the house, you put few thousand into high-return repairs and improvements. These might include paint, carpet, and maybe asphalt for a dirt driveway. For our example, we'll say you spend $5,000. Let's suppose the house is worth $116,000 now. You're ready for the next important step in this real estate formula.

You put it up for sale, targeting buyers who can't get financing easily. You provide the financing. Because you are making it easy for the buyer, you can get more than the $116,000 value for the home - and do it without paying a realtor's commission. Let's say you sell it for 123,000. The buyer needs a down payment of just 5%, or $6,150, and makes monthly payments of $1230 per month. You charge higher interest than the going rates at the banks, of course.

This is a win-win situation. Your buyer is able to buy a home instead of renting, and you get a capital gain of perhaps $16,000 after expenses, plus good interest. Your total rate of return will often be over 20%!

In our town, the first to do this consistently were a father and son team of lawyers. They saved money by doing their own foreclosures when necessary. Once they foreclosed, they raised the price and sold the home all over again.

They made millions. Did you know that if you can get an average return of 18% on your money, you'll turn $75,000 into more than one million dollars in about fifteen years? That's the power of a good real estate formula.

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ABCs of Flipping Houses

by Dallas Appraiser L.L.C. on 06/04/14

ABCs of Flipping Houses

Keywords: #DFW_Real_Estate_Appraisal, #Real_Estate_Appraisal, #Appraisal, #Appraisals, #Appraiser, #Texas, #DFW

All new things can be a little frightening or intimidating at first glance. The same is definitely true when it comes to flipping houses. Many people feel several times during their first flip that they have gotten in over their heads. The truth is that it will take more than a few flips to feel comfortable with the process. Most people make very little, if any real profit on their first flip and write it off as a learning experience only to enter into the next flip with newly learned lessons and a positive attitude. Learning the ABCs of flipping houses is a great place to begin and can help you avoid costly mistakes made by many first time flippers.

1) Appraise. You need to have a proper appraisal performed on the house you intend to flip and compare it to other houses in better condition and of similar size and style within the neighborhood. You do not want to buy the best house in the neighborhood, in fact it is best if you can find the neighborhood eyesore and turn it into a competitive house for the neighborhood in order to get the most for your money. More importantly you want the appraisal to reveal the actual value of the home now as compared to the price you are paying and talk to the appraiser about what the home would be worth the with improvements you are planning to make.

2) Bold Moves. Sometimes it takes bold moves to make the impression you want to make. The decision to flip houses is a bold move in and of itself and while you do not want to necessarily enter into risky waters you do not want to play it too safe either. Be cautious with your financing and guard your expenses and your budget well but make the changes that will catch the eye of the next owner for the property.

3) Can do Attitude. You absolutely must believe you can do this in order to get it done. A house flip is not an undertaking for the timid or those that lack self-confidences. You will need to stand up to your contractors, inspectors, and even some vendors in order to get the best price and the most bang for your buck. In other words you need to believe in yourself and what you are doing in order to get it done. This doesn't mean you shouldn't listen to the advice of those with more experience and expertise, especially when it comes to structural issues within the home and bringing the property to code but you also need to stand up for yourself to insure that you aren't paying for things you aren't getting.

4) Determination. You must also be determined to see your project through to completion. It takes a certain sort of pigheadedness to get through the first few flips. It should be stated here that flipping houses is certainly not an easy way to make a living. It does have the potential however, to be a highly profitable way to make a living and that is what most potential flippers are looking for. If you want those profits you are going to need to push yourself out of bed even on those mornings when you feel as though looking at the property in question is going to make you wail and moan and pull out your hair.

5) Excitement. This may be the most necessary of all ingredients. You will find that excitement is in short supply many days but it if you can recapture that initial excitement over your decision to flip houses then it will sustain you on those days when the plumber brings bad news or you just learned that a solid weak of rain is forecasted for the weak the roof was to go on.

This is a small start on the ABCs of house flipping and real estate investing but I think you get the picture. Good luck!

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Understanding REOs

by Dallas Appraiser L.L.C. on 06/03/14

Title:

Understanding REOs

Word Count:

1012

Summary:

If you are getting involved with real estate you may have heard the term REO without really knowing what it refers to and how it could play a part in your current or future investments

Keywords:

#liens, #foreclosures_investing, #foreclosures, #DFW_Real_Estate_Bookkeeping, #DFW_House_Flipping, #property_investment,#pension, #Real_Estate_Bookkeeping, #Bookkeeping_DFW, #Bookkeeping, #DFW, #Dallas, #Appraisal, #Appraiser, #Texas, #Tarrant, #Mansfield, #Arlington, #Fort_Worth, #North_Texas, #Home_Appraisal, #Home_Appraiser, #Real_Estate, #De_Soto, #Euless, #Johnson, #Midlothian, #Burleson, #DFW_Real_Estate_Accounting, #Foreclosure, #REO, #Foreclosures, #DFW_Area_Real_Estate_Bookkeeping

It might seem obvious, but in managing a business, it's important to understand how the business makes a profit. A company needs a good business model and a good profit model. A business sells products or services and earns a certain amount of margin on each unit sold. The number of units sold is the sales volume during the reporting period. The business subtracts the amount of fixed expenses for the period, which gives them the operating profit before interest and income tax.

Article Body:

If you are getting involved with real estate you may have heard the term REO without really knowing what it refers to and how it could play a part in your current or future investments. REO is actually just an acronym that stands for real estate owned by the bank. REOs are not all that common because the bank does not want them, but they do happen and you can really cash in as a result.

How a Property Becomes an REO

When a bank forecloses on a home or property owner, it is requires by law to hold a public foreclosure auction. Sometimes, because of lack of publicity or other reasons the home will not get any bidders at the auction, and the bank will end up owning the property. When the bank ends up owning the property it is then known as real estate owned by the bank, or an REO. An REO is not something that the bank wants, but many investors consider them gold mines.

Why the Home Was Not Bid On

There are a variety of reasons that a piece of property will become an REO. The mot common reason is that the property had very little equity in it. Many investors will not bid on a property that has less than 30% equity. In fact, statistics show that banks end up with most houses that do not have at least 30% equity. Many homes become REO when the property was simply in terrible condition. Most investors or individuals will not invest in a home that is in poor condition because they see it as too risky. When a home that is in poor condition becomes an REO they are often gold mines waiting for the right investor to come along. Another reason that homes are not bid on at an auction is because there are IRS liens attached to the property. The problem with IRS liens is that there is a 120 period after the purchase of the home that the IRS has the right to take the property and refund the money that you have paid for it, but not the money you have put into the house updating it. For some investors, this 120 day redemption period is just too risky.

Why the Bank Wants To Get Rid Of REO’s

Banks do not want to own property, which is not what they are set up for. Basically, an REO is the sign of a bad loan that was given by the bank and the REO is a liability, not an asset. Every month that a bank owns a piece of property means they are losing money.

One of the biggest reasons that a bank does not want an REO is that their insurer will make them pay a full or partial settlement on the property. The bank is also aware that it does not matter how much they sell the home for at an auction, they will probably suffer a loss. Banks are actually penalized for having too many REOs by the federal government, as they have to borrow funds from the government to stay in business. The federal government views the REO as a bad loan, and has a vested interest in making sure that a bank does not make too many bad loans. The bank will also have costs that are associated with the property such as taxes, insurance, sewer, water, and electricity bills, as well as homeowner association dues. The property must also be maintained and winterized, all of this costing the bank money.

Another problem for the bank is that it is not used to having to deal with the fixing and selling of property. Banks do not have contractors and such on hand to do the repairs, so they are at the mercy of contractors that may charge them too much for the services due. It also takes time to make a house marketable, and all of this time they are paying the costs to upkeep the home, when they are not used to doing so. The bank will usually hand the big task of managing and selling an REO to someone that has another job, a more important job, and this will actually end up stressing out bank personnel until the home sells.

The bank will also pay to hire a real estate agent to sell the property once it has been repaired. While this may not seem like a big deal to most people, it can add up when the bank is expected to pay at least 6% of the sales price to a real estate agent for every REO! These costs really add up over time, so it is plain to see why the bank simply does not want an REO.

Why Investors Are Attracted to REO’s

Most investors know that homes that need some work done to them usually are the biggest gold mines. Because of this, REOs are generally a very attractive business deal for these investors. The banks are willing to do just about anything to get rid of their owned property, which means that businesses or individuals can get the bank to make them a really nice deal so that they can buy the home, do the necessary repairs, and then sell the home if they choose, and still be able to make some money for themselves. For those that know how to do it right, there is a lot of money to be made in REOs.

REOs are not hard to find because banks want to get rid of them as quickly as possible, and advertise them to the best of their ability. Investors simply need to inspect the property to be sure it is something that they can repair and still profit from if they want to. Many homes become REOs because they are not in a desirable part of town, so the investor that is looking into an REO must be sure that the home is in a desirable part of town if they hope to get their money out of it.

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How is accounting used in business?

by Dallas Appraiser L.L.C. on 06/03/14

How is accounting used in business?

Summary:

It's important not to confuse profit with cash flow. Profit equals sales revenue minus expenses. A business manager shouldn't assume that sales revenue equals cash inflow and that expenses equal cash outflows. In recording sales revenue, cash or another asset is increased. The asset accounts receivable is increased in recording revenue for sales made on credit. Many expenses are recorded by decreasing an asset other than cash. For example, cost of goods sold is recorded with a decrease to the inventory asset and depreciation expense is recorded with a decrease to the book value of fixed assets. Also, some expenses are recorded with an increase in the accounts payable liability or an increase in the accrued expenses payable liability.

Keywords:

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Remember that some budgeting is better than none. Budgeting provides important advantages, like understanding the profit dynamics and the financial structure of the business. It also helps for planning for changes in the upcoming reporting period. Budgeting forces a business manager to focus on the factors that need to be improved to increase profit. A well-designed management profit and loss report provides the essential framework for budgeting profit. It's always a good idea to look ahead to the coming year. If nothing else, at least plug the numbers in your profit report for sales volume, sales prices, product costs and other expense and see how your projected profit looks for the coming year.

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