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Will You Add? - Seller Financing - How to Create a Secure and Saleable Note or Mortgage
Staff Turnover - A Business Killer
Finding the right staff is critical, as we discussed in the article "Finding Staff to Complement Your Business". But what about keeping good staff? Is it important? Is it worth the effort to keep the right folks on the job? Let’s look at the four areas that staff turnover affects – in a business of any type. Those areas are: Productivity, Revenue, Customer Satisfaction, and Long Term Viability.EFFECTS ON PRODUCTIVITYIncreasing work for the remaining staff... This is rather obvious, but think about the work that’s being left undone. If a staff member has to cover the phones because the receptionist has quit, she is going to omit work somewhere. In the choice between her r
to someone experienced in and who will operate it.Finding the right staff is critical, as we discussed in the article "Finding Staff to Complement Your Business". But what about keeping good staff? Is it important? Is it worth the effort to keep the right folks on the job? Let’s look at the four areas that staff turnover affects – in a business of any type. Those areas are: Productivity, Revenue, Customer Satisfaction, and Long Term Viability.EFFECTS ON PRODUCTIVITYIncreasing work for the remaining staff... This is rather obvious, but think about the work that’s being left undone. If a staff member has to cover the phones because the receptionist has quit, she is going to omit work somewhere. In the choice between her r
My Struggle, or, What Do You Do With a Degree in English
When choosing a career for yourself, you think about two things: One, you think about what you like to do. Do you enjoy being around people all day? Maybe it’s that you love arts and crafts. Second, you think about what skills you’ve acquired, be it from school or from life. Are you good at analyzing situations? Maybe your specialty is creating peace between two competing forces. Can you correct a sentence like no other? Are you good at teaching a skill? Kids? Street smarts? Or is it that you’re really good at selling things? For me, it all came down to one, simple question: What do you do with a degree in English? I’ve asked myself this question almost every day for the past three years and
Seller Financing is a topic I am always asked about. Questions like, "How do I create a secure carry-back note or mortgage that will provide the return I need, perform as written and is saleable at a high dollar if I want to sell it?" First, why carry back part of the sale price of my real estate or business sale? Here are some reasons:When choosing a career for yourself, you think about two things: One, you think about what you like to do. Do you enjoy being around people all day? Maybe it’s that you love arts and crafts. Second, you think about what skills you’ve acquired, be it from school or from life. Are you good at analyzing situations? Maybe your specialty is creating peace between two competing forces. Can you correct a sentence like no other? Are you good at teaching a skill? Kids? Street smarts? Or is it that you’re really good at selling things? For me, it all came down to one, simple question: What do you do with a degree in English? I’ve asked myself this question almost every day for the past three years and
- The buyer of your real estate or business can't or won't deal with a lender for the purchase financing.
- You have figured out that you can sell your property or business for more if you carry-back some of the sales price.
- You don't need the cash right now and you want the long-term income, in the form of payments with interest.
- The only way you can sell your property or business is if you carry-back some of the sales price.
- Banks usually won't lend on the purchase of a business.
- About a third of all real estate transactions in the US involve seller financing.
- About 80% of all small to medium sized business sales involve seller financing.
- Sell the property to a buyer who will occupy it (called owner occupied).
- Sell the property to a buyer whose mid credit score is at least 625. The higher the better. It's your federal legal right to know all three of their credit scores.
- Sell the property to a buyer who you don't know and isn't related to you. (Called an arm's length transaction).
- Sell the property using a third party processor like an escrow or title company.
- Make sure to buy and receive a valid Title Policy with insurance in the amount of the sales price.
- Take back a mortgage in the first position (the most senior lien) for no more than 85% of the sales price.
- Secure the mortgage or note with a valid Mortgage Deed or Trust Deed on the property.
- Accept no less than 15% cash down payment.
- If the buyer doesn't have 15-20% cash down payment and the sales price is more than you expected, you can carry-back two notes. One in the 1st position for 80% of the sales price and another one, a 2nd position note for no more than 10% of the sales price. These deals are called 80-10-10 (80% 1st position note, 10% 2nd position note and 10% cash). Now you can sell the 1st position note (the most valuable one) and keep the 2nd position note.
- The terms of the 1st position note should include: an interest rate of at least Prime (currently 8.25%); Amortized equally, monthly for up to 30 years; Pre-payment penalty for the first five years; Significant and detailed late and default payment stipulations.
- Keep detailed records, like a Note Owner's Manual, of the note and each payment (preferably a copy of the front and back of the payment check showing the bank cancellation stamp). Preferably a separate checking or savings account for the note.
- Sell the business to someone experienced in and who will operate it.
- Sell the business to a buyer whose mid credit score is at least 675.
- Sell the business to a buyer you don't know and isn't related to you.
- Sell the business as an 'Asset Sale' instead of a Corp Stock or Equity sale if possible.
- Always use legal professionals (business attorney, escrow, Title company, etc.) to construct and execute the sale and documents.
- File and record a UCC-1 following the close of sale.
- Sell to a buyer with at least 30% cash down payment.
- Make sure the business can afford to support (pay) the note payments from its cash flow because you will be depending on the business to perform on the note.
- Carry-back only a 1st position promissory note.
When it came time this year to order reprints for our paper books on Turkish language-learning -- we hesitated, took a look at technology developments, and decided in favor of ebook publications.The reason we did so is due to the particular advantage provided by the Adobe PDF format when used with Adobe Acrobat's simple but oh-so-effective text search capability.And, if you're concerned because you think that you can only access eBook files on full-sized computers -- which fail 'the portability test' -- then think again. Because there are quite a few handheld Electronic Book readi
- About a third of all real estate transactions in the US involve seller financing.
- About 80% of all small to medium sized business sales involve seller financing.
- Sell the property to a buyer who will occupy it (called owner occupied).
- Sell the property to a buyer whose mid credit score is at least 625. The higher the better. It's your federal legal right to know all three of their credit scores.
- Sell the property to a buyer who you don't know and isn't related to you. (Called an arm's length transaction).
- Sell the property using a third party processor like an escrow or title company.
- Make sure to buy and receive a valid Title Policy with insurance in the amount of the sales price.
- Take back a mortgage in the first position (the most senior lien) for no more than 85% of the sales price.
- Secure the mortgage or note with a valid Mortgage Deed or Trust Deed on the property.
- Accept no less than 15% cash down payment.
- If the buyer doesn't have 15-20% cash down payment and the sales price is more than you expected, you can carry-back two notes. One in the 1st position for 80% of the sales price and another one, a 2nd position note for no more than 10% of the sales price. These deals are called 80-10-10 (80% 1st position note, 10% 2nd position note and 10% cash). Now you can sell the 1st position note (the most valuable one) and keep the 2nd position note.
- The terms of the 1st position note should include: an interest rate of at least Prime (currently 8.25%); Amortized equally, monthly for up to 30 years; Pre-payment penalty for the first five years; Significant and detailed late and default payment stipulations.
- Keep detailed records, like a Note Owner's Manual, of the note and each payment (preferably a copy of the front and back of the payment check showing the bank cancellation stamp). Preferably a separate checking or savings account for the note.
- Sell the business to someone experienced in and who will operate it.
- Sell the business to a buyer whose mid credit score is at least 675.
- Sell the business to a buyer you don't know and isn't related to you.
- Sell the business as an 'Asset Sale' instead of a Corp Stock or Equity sale if possible.
- Always use legal professionals (business attorney, escrow, Title company, etc.) to construct and execute the sale and documents.
- File and record a UCC-1 following the close of sale.
- Sell to a buyer with at least 30% cash down payment.
- Make sure the business can afford to support (pay) the note payments from its cash flow because you will be depending on the business to perform on the note.
- Carry-back only a 1st position promissory note. <
- Sell the property using a third party processor like an escrow or title company.
- Make sure to buy and receive a valid Title Policy with insurance in the amount of the sales price.
- Take back a mortgage in the first position (the most senior lien) for no more than 85% of the sales price.
- Secure the mortgage or note with a valid Mortgage Deed or Trust Deed on the property.
- Accept no less than 15% cash down payment.
- If the buyer doesn't have 15-20% cash down payment and the sales price is more than you expected, you can carry-back two notes. One in the 1st position for 80% of the sales price and another one, a 2nd position note for no more than 10% of the sales price. These deals are called 80-10-10 (80% 1st position note, 10% 2nd position note and 10% cash). Now you can sell the 1st position note (the most valuable one) and keep the 2nd position note.
- The terms of the 1st position note should include: an interest rate of at least Prime (currently 8.25%); Amortized equally, monthly for up to 30 years; Pre-payment penalty for the first five years; Significant and detailed late and default payment stipulations.
- Keep detailed records, like a Note Owner's Manual, of the note and each payment (preferably a copy of the front and back of the payment check showing the bank cancellation stamp). Preferably a separate checking or savings account for the note.
Write Winning Proposals For Venture Capitalists
You need to secure money for your project. You visit venture capitalists to see if you can get that money. A venture capitalist views your project as a pure investment. A venture capitalist has no emotional attachment unlike you. You need to write a proposal that is structured around a venture capitalists needs, not yours. What may interest you may have no relevance to your potential funder. You need a business plan that is ‘investor-focused’.An investor focused business plan contains relevant information about your project. It addresses concerns, questions and should allay fears that any potential venture capitalist may have. It should meet their needs exactly. Venture capitali
t know and isn't related to you. (Called an arm's length transaction).You need to secure money for your project. You visit venture capitalists to see if you can get that money. A venture capitalist views your project as a pure investment. A venture capitalist has no emotional attachment unlike you. You need to write a proposal that is structured around a venture capitalists needs, not yours. What may interest you may have no relevance to your potential funder. You need a business plan that is ‘investor-focused’.An investor focused business plan contains relevant information about your project. It addresses concerns, questions and should allay fears that any potential venture capitalist may have. It should meet their needs exactly. Venture capitali
- Sell the business to someone experienced in and who will operate it.
- Sell the business to a buyer whose mid credit score is at least 675.
- Sell the business to a buyer you don't know and isn't related to you.
- Sell the business as an 'Asset Sale' instead of a Corp Stock or Equity sale if possible.
- Always use legal professionals (business attorney, escrow, Title company, etc.) to construct and execute the sale and documents.
- File and record a UCC-1 following the close of sale.
- Sell to a buyer with at least 30% cash down payment.
- Make sure the business can afford to support (pay) the note payments from its cash flow because you will be depending on the business to perform on the note.
- Carry-back only a 1st position promissory note. <
- The terms of the 1st position note should include: an interest rate of at least Prime (currently 8.25%); Amortized equally, monthly for up to 30 years; Pre-payment penalty for the first five years; Significant and detailed late and default payment stipulations.
- Keep detailed records, like a Note Owner's Manual, of the note and each payment (preferably a copy of the front and back of the payment check showing the bank cancellation stamp). Preferably a separate checking or savings account for the note.
Do You Have a Sticky Website?
Every company needs a website where customers stick around for a while. After all, studies show that the longer a customer stays on your web site, the more likely they will buy your product or call you.This article will give you great advice on how to build a site that attracts customers and gets them to stay awhile, instead of driving them away.Producing a sticky site is as simple as knowing what customers are looking for. Here are the top 5 needs visitors to your site will have. If you meet these needs, you will have created a great sticky site.1. How Do I find what I’m looking for? This is what customers asks whenever they visit any web page. It is
These deals are called 80-10-10 (80% 1st position note, 10% 2nd position note and 10% cash). Now you can sell the 1st position note (the most valuable one) and keep the 2nd position note.Every company needs a website where customers stick around for a while. After all, studies show that the longer a customer stays on your web site, the more likely they will buy your product or call you.This article will give you great advice on how to build a site that attracts customers and gets them to stay awhile, instead of driving them away.Producing a sticky site is as simple as knowing what customers are looking for. Here are the top 5 needs visitors to your site will have. If you meet these needs, you will have created a great sticky site.1. How Do I find what I’m looking for? This is what customers asks whenever they visit any web page. It is
- Sell the business to someone experienced in and who will operate it.
- Sell the business to a buyer whose mid credit score is at least 675.
- Sell the business to a buyer you don't know and isn't related to you.
- Sell the business as an 'Asset Sale' instead of a Corp Stock or Equity sale if possible.
- Always use legal professionals (business attorney, escrow, Title company, etc.) to construct and execute the sale and documents.
- File and record a UCC-1 following the close of sale.
- Sell to a buyer with at least 30% cash down payment.
- Make sure the business can afford to support (pay) the note payments from its cash flow because you will be depending on the business to perform on the note.
- Carry-back only a 1st position promissory note. <
- Sell the business to a buyer whose mid credit score is at least 675.
- Sell the business to a buyer you don't know and isn't related to you.
- Sell the business as an 'Asset Sale' instead of a Corp Stock or Equity sale if possible.
- Always use legal professionals (business attorney, escrow, Title company, etc.) to construct and execute the sale and documents.
- File and record a UCC-1 following the close of sale.
- Sell to a buyer with at least 30% cash down payment.
- Make sure the business can afford to support (pay) the note payments from its cash flow because you will be depending on the business to perform on the note.
- Carry-back only a 1st position promissory note.
- If real estate is involved in the sale, create two notes. One on the business and one on the real estate. (A business note is far more valuable without real estate).
- Receive a Personal Guarantee from the buyer even if the buyer is a corporation. It is added value if the Personal Guarantee is secured with defined, tangible collateral outside the business and equal to the amount of the note.
- Receive a Security Agreement.
- Receive proof of exactly the cash down payment paid.
- Make sure you have a signed Bill of Sale.
- The terms of the carry-back note should include: Interest Rate of Prime plus 1%; Balance Amortized equally and monthly for no more than 72 months; Significant and detailed late and default payment stipulations including reversion of the business and assets to you; Non-assignment clause; Full Balance payoff at time of and in case of business subsequent sale.
- Keep detailed records on the business sale transaction; keep your last two years of signed business tax returns; demand that the buyer, now your note payor, provide you periodic (quarterly) Profit and Loss business statements (it's your legal right); keep detailed note payment records (a separate checking account is best).
Where To Find The Most Profitable Adsense Tips
I have found that my most profitable Adsense tips have tended to come from just two sources. Again and again I have been able to mine real gold from these two sites.Fascinatingly enough both sites are blogs and very popular blogs at that. One is in fact the official blog for the Adsense program and what I really like about it apart from it being my source for some of my most profitable Adsense tips is its' emphasis on case studies. Real life Adsense case studies that not only give me the most profitable Adsense tips but also serve to be a real inspiration. Those who are familiar with the Adsense program will know that especially when one is starting out, inspiration tends to be extremely
to someone experienced in and who will operate it.I have found that my most profitable Adsense tips have tended to come from just two sources. Again and again I have been able to mine real gold from these two sites.Fascinatingly enough both sites are blogs and very popular blogs at that. One is in fact the official blog for the Adsense program and what I really like about it apart from it being my source for some of my most profitable Adsense tips is its' emphasis on case studies. Real life Adsense case studies that not only give me the most profitable Adsense tips but also serve to be a real inspiration. Those who are familiar with the Adsense program will know that especially when one is starting out, inspiration tends to be extremely
There you have it. The basics of How to Create a Secure and Saleable Seller Financed Note or Mortgage. Now that you own the note you have two comfortable choices. One, keep it and enjoy the return on investment or two, sell it. How to sell your note is the topic of another article and available at www.notefundingcenter.com/howto.html
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