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Business – Page 14 – Reginald Chan

Reginald Chan

Category: Business

  • Viable Ways to Finance Your Real Estate Project

    Viable Ways to Finance Your Real Estate Project

    Maslow’s Hierarchy of Needs was used as a template by the New York Life Investments in 2019 to illustrate the pyramid towards financial freedom. Right in the middle of that pyramid is Accumulating Wealth, which consists of the following: building an investment portfolio, saving for retirement, and paying down debt. A lot of options are available for any investor for the first one, such as stocks, mutual funds, and real estate.

    Why Invest in Real Estate?

    In case you haven’t seen it on your social media platforms yet, there is this guy who asks random people driving expensive cars and houses what they do for a living. Two of the most common answers were FinTech (Financial Technology) and real estate. It just shows that investing in real estate is still one of the most reliable ways to grow your money. The next step then is to look for ways to finance your real estate project. 

    Real Estate Financing Options

    Below is a shortlist of ways to finance your next real estate project:

    • Owner Financing
    • Lease
    • Hard Money Lenders
    • Microloans
    • Equity Partnership
    • Home Equity Financing
    • Trade Houses
    • Special Government Schemes
    • SBA Loan
    • REITs

    Owner Financing

    Unlike traditional selling where the buyer gives the seller money in exchange for something, here, the seller extends finances to their buyer. The buyer then will repay the seller later based on agreed-upon terms.

    Lease

    Leasing is like the usual renting, except that a higher amount of money is being paid. This is because the rent includes a premium, which ultimately accumulates to the purchase price.

    Hard Money Lenders

    Compared to traditional bank loans, hard money lending is offered by private groups or individuals. While the interest rates are relatively higher due to higher risks, hard money lending has its own advantages. Investors are subjected to less stringent approval procedures; an online application is possible, as evidenced at NewSilver.com,  and those that are considered risky projects are more likely to be approved than in a conventional bank loan. This type of financing also makes making profit easier, as a faster approval rate will mean faster rehabbing and flipping out of the purchased property.

    Microloans

    Just like with hard money lending, the qualification criteria for microloans are less strict. The lower amount of money loaned makes this possible, and this type of financing targets newer businesses or startups.

    Equity Partnership

    If the buyer really wants to purchase a property but is short in cash, an equity partner is also a viable option. In this setup, an additional entity (the equity partner) enters the picture of purchasing and injects some cash into the transaction. The terms are to be agreed upon by the buyer and the partner.

    Home Equity Financing

    When you want to expand your investment portfolio, you can leverage your existing property to buy a new one. HEIL and HELOC are just some of the options being offered by banks and other financing institutions in this category.

    Trade Houses

    Another way of utilizing your old property is by trading it for a new one. Aside from having a new investment, capital gains that are normally part and parcel of selling a property can also be avoided.

    Special Government Schemes

    The USDA offers up to 0% interest mortgages to low- and moderate-income individuals to fill underpopulated areas of the country. Towns with less than 10,000 population are included in this program.

    SBA Loan

    The US Small Business Administration aims to provide financing to small businesses as the name implies. That said, the borrower must occupy part of the whole property being purchased. The funding usually amounts to $125,000 to $20 million, and a 10% down payment is required. Some loan products allow the borrower to buy a building, conduct building improvements, or do ground-up constructions.

    REITs

    REITs, or Real Estate Investment Trusts, offers many advantages to investors. One of which is liquidity, as a shareholder who wants to opt-out of business can have his cash back when someone else wants to buy his shares. Buying targeted REITs is also possible, as one can select those that build medical buildings, parks, etc. While you do not have to manage anything in those investments, the downside is that the profits are stripped off overheads before distributing to the investors. 

    Despite the variety of investment options such as the stock market and other technologies such as cryptocurrencies, real estate remains one of the most reliable avenues for building wealth. And while it requires a comparatively higher capital, several financing options are widely available for any investors. One only needs to consider his or her goals and put up a nice strategy to be able to repay these liabilities.

  • Who Benefits From Group Insurance?

    Who Benefits From Group Insurance?

    Insurance benefits are typically what attract quality employees. Compared to individual insurance, you’ll find that group insurance can be more helpful for you and your employees. If you’re thinking of improving your package or the insurance service you offer to your employees, there are many factors to take into consideration first, like budget, typical employee needs, medical benefits, and which group insurance can help you achieve the best coverage. To know who can benefit from group insurance, the following guide will give you a better understanding of that.

    Employers Who Want to Reduce Taxes

    Any astute business owner knows that they must have a good insurance plan in place for their employees, as that can reduce or even exempt them from federal and payroll taxes. Employer-paid premiums are exempt from these types of taxes. In addition to this, your employees’ pay will also be excluded from taxable income, which means that insurance can be quite profitable both for employees and employers. In fact, most American families have group health insurance coverage through their employees for that reason alone.

    Employers Who are Looking for a Budget-Friendly Option

    Life insurance doesn’t have to be out of your price range anymore. There are plenty of solutions available to you and group insurance is one of them. Depending on your needs and business goals, you can pay all, part, or even none of your employees’ benefits. Group life insurance premiums are also based on the assessment of a company’s risk over time. Reducing the risk by spreading it will bring group rates down, which makes group insurance the most affordable option for employers.

    Employers Who Are Trying to Achieve a Large Risk Pool

    One of the main advantages of group insurance, especially group health insurance, is the large number of people who’re receiving its benefits. Naturally, the more people you have included in your group insurance, the lower the prices you’re going to pay and, ultimately, the lower the financial risk you’ll have to shoulder. The group insurance specialists at GroupEnroll.ca explain that this type of insurance has the best of both worlds: lower prices and better coverage. Although you might find some people arguing against that fact, this might not be the norm for most employees in the US.

    Employers Attempting to Improve Their Company Culture

    Many employers consider that building a good company culture is all about creating a healthy environment that promotes the core values of life. Company culture is what motivates employees and increases their satisfaction, which is what most employees aim for through the benefits they offer to employees. Company culture should also help employees feel like they’re an integral part of the company and that they’re valuable. For that reason, you should offer your employees’ group insurance benefits that will show them that you put them first and are trying to provide them with a more secure financial future.

    Employees Seeking Family Protection

    If a household loses their primary wage earner, a negative emotional and financial impact is bound to affect the life in that household for a long time. If there’s no one or no financial resources that said a household can rely on, things may not turn out well. With group life insurance, an employee can rest assured that their family and loved ones are covered in case they pass away unexpectedly. . Financial safety, living expenses, or medical needs should be covered, which will omit any potential financial strain in the future. Group life insurance can be even used to fund a child’s education, which is why you’ll find many employees willing to take a job with that type of insurance.

    Employees Who Are Looking for Dental and Vision Benefits

    It’s not common that employees will find adequate dental and vision benefits along with the job, so that can be an excellent attractant to quality employees. With group dental and vision coverage, employees will have a choice to add more benefits without increasing their expenses. This happens because employees are willing to pay all the costs of voluntary benefits, but they won’t have to if they get the advantage of group rates, which can be offered through a new job with group dental and vision benefits.

    Making the right decisions should be done while considering your benefits as well as your employees’. If you’re looking for top-quality employees, you have to ensure that you provide a top-notch benefits package. On the other hand, if you’re an employee, you’ll need to compare the benefits that each job offers before applying to know which one will suit your needs.

  • How To Make A Profit By Buying and Selling Residential Lots Or Properties?

    How To Make A Profit By Buying and Selling Residential Lots Or Properties?

    Real estate is arguably the most profitable than any other industry. Yet, many people are still skeptical about it. But if you know what you’re doing, it can seriously earn you a living.

    According to research, 90 percent of the world’s millionaires got their wealth, and maintained it, through real estate investing. And it’s still one of the lucrative investments that’s effective today. It has so many benefits to offer. The best part of it is that you can even start without a significant capital, major assets, or credit.

    Convinced? If you are, here are some strategies on how you can make money in this industry.

    Buy to Let

    One of the most common strategies that you can use is “buy to let.” Also known as BTL, this refers to purchasing a property in order to rent it out to tenants – either for residential or commercial use.

    Residential

    Usually, landlords choose to purchase a property, then lease it for residential use. The good thing about this is that it performs better even in the middle of an economic crisis. When the pandemic started, a lot of businesses were affected and closed down. This kind of scenario affects commercial investors too.

    But residential real estates are immune to this as it’s always in demand. Thus, even if there’s an economic crisis, you’re still sure that you can earn money from your investment.

    However, over time, you are at risk of spending more money. Renting a house out for residential use has phantom costs or unseen expenses. This includes repairs and maintenance.

    If there’s a leak, you’re liable to fix it for your renters. You’re also the one who’ll spend on renovations for the next tenant, you’ll pay for the electrician, repairman, etc.

    Commercial

    On the other hand, there is commercial real estate. For this strategy, you can lease your property for commercial use. This can give you more income. In fact, it can generate 6 to 12 percent of return of investment price (yearly) than residential real estate, which can only make between 1 and 4 percent.

    In addition to that, you’re ensured that your property is well-taken care of. This is because retail tenants need to maintain their store and storefront based on the rules and regulations of the company. Their business will be affected if they don’t follow them.

    As a result, their interests are aligned with yours. This will definitely help you maintain and improve your property’s quality, as well as the value of your investment.

    In addition to that, you won’t have to worry about renovating it. Some companies usually want to handle the renovations on their own as they have a design or branding to follow.

    Renovating

    Renovating property is also one of the common strategies that investors go for. Here, investors purchase a property, usually residential, renovate, then sell it.

    For this strategy, you’d purchase a property at a low price. Experts on real estate investing say that the cheaper you can buy it, the more likely you’ll profit from it. However, this also means you’ll need more work and money to refurbish it.

    But the good thing is that remodeling a house can increase its resale value more. Windows and garage door replacements alone can increase the property’s value up to 75 percent.

    But for this strategy to be viable, you’ll need a huge amount of money. It looks easy but the process is lengthy. Still, the amount of money that you’ll gain is worth waiting for.

    Online Investing

    Thanks to the advancements in our technology, you can now invest in real estate online. This strategy involves web platforms and mobile applications. These platforms and apps will connect you to real estate managers who are looking to invest in properties. Once you get a deal, they will trade your capital with dividends provided that they earn money.

    Real Estate Investment Trusts

    This investment strategy is a bit different. Also known as REIT, this kind of resembles the real estate funds. However, you neither purchase nor manage the property yourself. Rather, you and other investors will pool your money into a fund, but a company will manage it.

    REIT comes in various forms. Some REITs mainly focus on retail properties, including shopping centers. Others focus on hospitality, namely hotels and motels. The good thing about it is that you have a wider option.

    Another good thing about it is that you don’t need a huge chunk of money in buying properties. Plus, it has lower risks than other strategies.

    Diversifying Investment

    All of the real estate investment strategies actually come with risks. For instance, commercial real estate doesn’t perform well in economic crises. Renovating properties takes time, effort, and money, which can be a drawback too.

    No matter where you invest, there are always downsides, especially if you’re only putting all your eggs in one basket. But if you diversify your investment, there’s a smaller chance that you will lose all your money.

    For instance, if you were to spend all your money in one building and renovating it, but no one buys or rents it, you’d likely find yourself in trouble. All of your money was already spent in that one building and you have no money coming in.

    You can lessen such risk by putting some of your eggs in other baskets. This means you can buy a few houses or venture into other real estate investment strategies. This way, you won’t have to worry about your income. Even if the market crashes, you still have a backup.

    It would be even better if you invest in different sectors in different countries. Thus, if the prices plummet in one country, your losses are reduced as your investments are balanced by the good ones.

    Investing is not as easy as it looks. It involves more money than you thought, depending on the real estate strategy you’re going for. Plus, there are risks. But it’s a lucrative investment. If you know what you’re doing, you’ll surely earn more.

  • What Is Slowing Down Your Online Business?

    What Is Slowing Down Your Online Business?

    Everyone has slow days sometimes. Whether it’s because you’re feeling unwell, or because it’s a certain time of year, or because you just need a break as you’ve been working hard. However, more than a few slow days in a row, and your online business could start to suffer badly. If the slow days keep coming, you might even have to shut down completely. 

    If you find you’re having a lot of slow days, you must find out exactly what’s behind them so you can do something about it. Anything that’s slowing down your business needs to be eliminated and new processes put in place to put things back on track. Here are some of the main reasons. 

    Trying To Do Everything Yourself 

    Strangely, one of the biggest reasons for your business slowing down might not even occur to you at first, especially as, if this is the issue, you’ll be feeling busier than ever. But just because you’re busy that doesn’t mean the business is, and this is a distinction that it’s important to make. 

    The reason we’re talking about is you trying to do everything yourself. If you try to do this, you’ll always be distracted and you’ll never be able to focus on the things you really should be focusing on if you want to grow the business. It’s far better to outsource what you can and use virtual services to give you some breathing space and a chance to work on the business rather than in it. 

    A Lack Of Advertising 

    Even the biggest businesses in the world still advertise, and you’ll certainly have seen ads for McDonald’s and Amazon, for example, so if you’re trying to grow your online venture, you have to advertise too. After all, if it’s good enough for them, it has to be good enough for you. 

    If you haven’t invested enough time, money, and effort into your advertising, the work and customers will eventually dry up, especially if you have only created one or two advertising campaigns and then done nothing at all. If those campaigns worked and brought you more business, you run the risk of losing the momentum by drawing back. If they didn’t work you might feel there’s no point in advertising, but that is not true; you simply need to find a new way to engage with people. The more you advertise – and keep advertising – the more your business will be noticed and the busier you will be. 

    Your Website Is Out Of Date

    As an online business, your website is going to be of huge importance; you couldn’t run the business at all without it. Yet it could be what’s slowing you down as well. The online store might be what brings you customers, but what about the rest of your website? Is that up to date? When was the last time you added something new to the blog or changed the homepage to reflect a special event or feature a specific new product? 

    If you can’t remember, it’s been too long. 

    When people come to a website, they might not land on the store right away; they could land on other pages first, or they might want to check the business out before buying. If your blog is months or even years out of date you’ll be giving the wrong impression, and people might even think you’re gone out of business. Update your website and you’ll soon become much busier (and your SEO will improve too). 

  • Why You Should Start Playing Scrabble (and How to Be Good at It)

    Why You Should Start Playing Scrabble (and How to Be Good at It)

    If you’re a word game lover, you already know that word games come in all shapes and sizes. You know the fun they can be and the mental stimulation that comes alongside playing them. If word games don’t sound like your cup of tea, you might be surprised to learn that these games are much more than just a pastime. Word games are incredibly good for your mind and result in long-lasting boosts to your cognitive abilities.

    The following will break down why you should be playing at least one of these games—Scrabble—on the regular and will include some tips to help you master the sometimes tricky rounds. With a little technique and practice, you can be an expert Scrabble player in no time.

    Scrabble Changes The Way Your Brain Works

    A University of Calgary experiment did a study on the effects of Scrabble playing on the brain. They used 24 people in the study, half of which did not play Scrabble before the study began. They were given jumbled letters and were told to identify as many English words as possible as quickly as possible. Their brains were monitored by fMRI scanners.

    The study found that the twelve volunteers who regularly played Scrabble were better at the task, which should come as no surprise. What was surprising was that the study also discovered the Scrabble players used an entirely different part of the brain to complete the assignment. They used the working memory and visual perception parts of their brain instead of the regions most generally associated with retrieval in visual word recognition.

    The study concluded that the brain was highly flexible. If someone were to make Scrabble a regular part of their lifestyle, they could open up new mental capabilities. The results are being applied to other research being conducted on neurodegenerative disorders like Alzheimer’s disease. People may be able to train their brains to use alternative regions, meaning damage or loss in one area doesn’t have to prevent a person from forever struggling with certain tasks.

    Scrabble Improves Vocabulary But Also Strategy Skills

    It should come as no surprise that playing Scrabble can boost your vocabulary. You’re always going to remember that one super obnoxious word a friend put down that won them the game. What many people don’t realize is that the layout of a Scrabble board also improves your ability to strategize.

    Because of the double and triple letter score squares as well as the double and triple word score squares, many find winning the game involves a little planning ahead. Not only do you want to make it difficult for your opponents to access and use those squares easily, but you also want to set yourself up to use them optimally. Expert players tend to plan several words to help with this.

    How To Be Good At It: Brush Up On Your Vocabulary

    Diligent players of Scrabble will tell you it’s not just about knowing more words—and it isn’t. It’s also about knowing the right type of words. Because different letters produce different scores, learning words that use rarer letters can result in a massive advantage. Knowing words like the following can be the difference between a win and a loss:

    • PHIZ (18 points)
    • QUIFF (20 points)
    • ZYMURGY (25 points)
    • BEZIQUES (28)
    • QUAT (12 points)
    • MEZQUIT (27 points)
    • QU (11 points)
    • HIGHJACK (28 points)

    It’s fairly easy to find lists of excellent Scrabble words online. Take note of a few of these words and watch your gameplay change.

    Use An Unscrambling Tool

    A big part of Scrabble is finding the words you’ve got in your seven letter spread. If you’ve never done this sort of thing before, it can be a little overwhelming. Taking a bit of time to watch an unscrambler program provide all the possible words out of a sequence of letters can train your mind to see these words hidden in the letters you were given. Spoiler alert: there are more words in a series of seven letters than you’d first think. There are over 200 words that can be made out of the letters: P, N, A, L, T, E, S—that’s a lot of options!

    The above information should help you see why playing Scrabble is so great for your mind. And the tips included at the end should help you get off on the right foot when it comes to developing a knack for the game. Of course, everyone is different, and so everyone’s mind works a little bit differently. Take note of the letters you struggle to make decent words with when playing and do a little research on the possibilities they can have.

  • Key Factors That Will Help You Decide Whether To Hire An Applicant Or Not

    Key Factors That Will Help You Decide Whether To Hire An Applicant Or Not

    The hiring process can be rigorous for both employer and applicant. With so many questions to ask, so many people to vet and so much research on both ends, it’s an arduous process that only feels fully completed when you can finally land on someone who seems like the best possible choice out of the scores of applicants.

    Landing on that right person for the job is tough enough, so weeding out the good and the bad is the risk/reward duty of the interview process and the employer. There can be a lot to dissuade and a lot to persuade in choosing someone, so it’s good to know the good and the bad of finding a good candidate for a job. Here are some key factors to consider.

    Lack of Experience Isn’t Always a Deal Breaker

    Experience is an asset, which many job applications state, while some say it is a requirement. It is a good idea to not get too hung up on this part because there are a lot of gifted, eager, and talented applicants who have not had the time in the workforce to acquire all of the experience needed. It’s more important to find experience in crucial skills related to the job, like the use of tools or software, as well as other unorthodox examples of experience like life experience. The perfect candidate is not someone who checks off every box, but one who can reach their potential in due time.

    Background is Hazy or Has Red Flags

    While experience should not be mandatory for the right applicant, a must is a good background and one that isn’t questionable or concerning. A dbs check is a type of background check to determine any criminal activity or warnings, and many places have these kinds of resources to ensure that an applicant is legally qualified. Besides that, there are tools to do background on social media presence and other information to check out. Similarly, it’s good to do this before an interview process to see what they say and whether their account of their background or past is in fact truthful.

    Confidence (or Lack Thereof) Is Noticeable

    How people carry themselves is a good way to determine if they are going to be a good match for the job. Confidence is a major skill to have that takes years to develop. Lacking confidence is just as noticeable, and in the interview process, you can tell when someone is timid or unsure, as well as self-doubtful. Downplaying their skills or being cautious with how they are perceived may be a sign that they aren’t yet ready to handle the job they are applying for, while confidence is a good sign they are up for the challenge. However, it is good to note that overconfidence could be a sign of someone thinking they’re punching well above their weight.

    Interview Process Feels Choreographed

    As you can obviously tell, and from your past experiences, finding the right applicant is not easy and the interview process is a defining factor because it gives you time to meet face to face with the person behind the CV. A good interviewee is always prepared, dressed appropriately, and follows key steps like proper posture, eye contact, and speaking habits. A surprisingly bad interview isn’t one where someone shows up looking like they rolled out of bed, but one that feels overly choreographed and planned. Following generic phrases and using vague answers is a sign that they are not prepared and are just doing what they were told, rather than being themselves, which could be a sign of a less than unique applicant.

    Provide Limitations On What They Expect

    Every job has requirements that you might not want to do but will do because you understand your role and the needs of the employer. Some applicants will make it abundantly clear that they won’t be doing certain tasks, which is a red flag that they are setting up barriers and expecting something they are comfortable with. There are limitations on what to expect, but when they provide concrete no answers for many simple tasks, they aren’t the one.

    Appear Knowledgeable About The Job and Employer

    Leaving on a high note is an applicant that has done their research on the job, its responsibilities, and the employer themselves. A go-getter of an applicant is one that is knowledgeable, even before the interview, and has made it clear that they know what they are looking for and why they have come to you to find it. This is a sign of an applicant that is hirable.

    The hiring process is long and difficult for everyone involved because it requires countless hours of preparation and consideration, but with these key factors to consider, you can feel confident that you will find the right applicant.