Rental Property Secrets

As a rental property owner, I am always looking for ways to maximize the rental income and keep my units marketable without having to do any major renovations. I am always keeping my eye out for potential properties that I can buy, and easily rent out that will cover the mortgage and a little more. That being said, one of the biggest mistakes that I see other landlords and rental property owners make is that they are reluctant to or just flat out won’t put any money into their properties because they don’t think they will see a return for that investment. When I tell some of my counterparts that I put new kitchens and bathrooms into all of my rental units they think I am nuts. To quote one of my friends who has some properties, “Why would you spend $4,000 on an apartment that is just going to get destroyed by the next people that rent it?”. To answer his question, I thought I would write this article.First, let’s think about the mathematics behind it. Granted each market or city is going to have a different result, but for where I live in the Philadelphia area this holds true. By doing a little research and finding comparable apartments in your market, you can find out what the magic number is. What are the three features that are going to stick out about any apartment? The condition of the rugs, the bathrooms, and the kitchens. If any of these items look worn or beat up, it is going to be harder to rent and you won’t be able to get as much for it… that is just a fact of life. So let’s say you spend $3,000 to upgrade the kitchen and bathroom(s). Yes, it is possible to spend that little on upgrades and I will show you how later on. Assuming the rest of your unit/building is in good condition, that $3,000 investment can produce an extra $200 a month in rent for me per unit. At $200 a month, you made your investment back in just over a year and you are now making more money per unit. Think about it. If a prospective renter is looking at two apartments: one with a dated kitchen and one with a modern kitchen and bathroom, which one is he/she going to choose? Not only that, but a nicer apartment is going to command a higher rent which in turn brings in a higher income renter who is less likely to abuse and destroy the apartment.For some of you, I am sure that $3,000 to renovate a kitchen and bathroom(s) probably made you chuckle

Welcome to Biz4ge – Dedicated to Business Transformation

Welcome to the Biz4ge website – dedicated to the success of business transformation efforts in organisations of all types and sizes, but especially to those who must manage much of it without the benefit of expensive external specialist support!
The content of this website has been forged by the decades of collective experience it’s authors have (see About Us) of working with and for large organisations around the globe and in most sectors on their change management efforts. This website assembles our extensive knowledge of business transformation and business architecture techniques.
Very importantly, it does so in a way that cuts through much of the technical jargon and complexity surrounding them thereby making them more accessible, relevant and an essential performance improvement and benefits delivery tool for mid-market and larger organisations.

Use a Payday Loan for Your First Car

Use a Payday Loan for Your First CarSo you are fresh out of university and you got yourself a nice job. You’re earning quite well and you are all set to live a life of your own finally. There is only one problem – you need a car that you can call your own. You probably had one during your uni days – your parents might have gotten it for you or you inherited it from your dad. The thing is, it is probably going bonkers on you. As old as it is, you probably want one that would serve you better. Am I painting a familiar picture here?I am sure that you would want a car of your own, something a bit better than that old piece of junk you have. Then again, being relatively new on the job, you might not have had enough time to save up for something flashy and brand new. How about a used car? Maybe you can find one for relatively cheap and yet do the trick.So you find one for several thousand pounds, maybe less. What is your next step? You are probably thinking about dealer financing or taking out a car loan from your bank. Both are feasible, of course, but what if you could get some cash to augment what you might have stashed away in a much easier manner and without too much hassle?For some cases, a payday loan could work for you. For example, if you only need about £1,000 to £1, 500 more to purchase that car using cash, you can save a lot more than if you took up the dealer’s offer for financing. Same thing for a car loan from a conventional bank. You merely have to look for a good payday loan provider and you

Telstra's NBN speed hump

One of the most common questionings of the proposed National Broadband Network is: "What if they build it and no-one comes?" Well, we may be about to find out even before the NBN is built.
Telstra’s announcement that it will switch on its upgraded hybrid fibre coaxial cable network in Melbourne from December 1 will provide something of a preview of the early years of the NBN.
The network upgrade was announced in the dying days of the Donald McGauchie/Sol Trujillo regime and in the lead up to the announcement of the outcome of the original NBN tender process – the one that didn’t produce a conforming or acceptable tender and led to the brilliant political strategy of, not announcing a failure, but the glittering new fibre-to-the premises network at a cost to taxpayers of up to $43 billion.
McGauchie and Trujillo didn’t know what was coming towards them. They thought the government was within weeks of announcing that a consortium, not including Telstra, would build a fibre-to-the-node network, cutting across Telstra’s copper lines, at a cost to the taxpayer of $4.7 billion or so.
So they came up with an idea designed to demonstrate Telstra’s ability to threaten the new network, protect its own position in the sector and provide a two-finger salute to the government in the process.

ASIC action against One.Tel directors fails

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The Spectators

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Bartholomeusz: Into the Myer tax mireThe corporate watchdog has failed in its civil action against One.Tel founder Jodee Rich and the failed teleco's finance director Mark Silbermann, and is at least $20 million out of pocket as a result.NSW Supreme Court judge Robert Austin on Wednesday handed down his judgment in the long running case launched by the Australian Securities and Investments Commission (ASIC) in December 2001

International Electrotechnical Commission

International Electrotechnical CommissionBy promoting international cooperation toward all problems and related issues regarding standardization in the electrical and electronic technology fields, the IEC, a non-governmental organization, was started in October, 1908, for the purpose of realizing mutual understanding on an international level. To this end, the IEC standard was enacted for the purpose of promoting international standardization.UL (Underwiters Laboratories Inc.)This is a non-profit testing organization formed in 1894 by a coalition of U.S. fire insurance firms, which tests and approves industrial products (finished products). When electrical products are marketed in the U.S., UL approval is mandated in many states, by state law and city ordinances. In order to obtain UL approval, the principal parts contained in industrial products must also be UL approved parts. UL approval is divided into two general types.One is called "listing" (Figure 1), and applies to industrial products (finished products). Under this type of approval, products must be approved unconditionally.The other type is called "recognition" (Figure 2), and is a conditional approval which applies to parts and materials.CSA (Canadian Standards Association)This was established in 1919 as a non-profit, nongovernmental organization aimed at promoting standards. It sets standards for industrial products, parts, and materials, and has the authority to judge electrical products to determine whether they conform to those standards.The CSA is the ultimate authority in the eyes of both the government and the people in terms of credibility and respect. Almost all states and provinces in Canada require CSA approval by law, in order to sell electrical products. As a result, electrical products exported from Japan to Canada are not approved under Canadian laws unless they have received CSA approval and display the CSA mark.Approval is called "certification", and products and parts which have been approved are called "certified equipment", and display the mark shown in Figure 3.The mark shown in Figure 4 is called the "Component Acceptance" mark, and indicates conditional approval which is applicable to parts.The C-UL mark shown in Figure 5 (finished products) and Figure 6 (parts) indicates that the product has been tested and approved in UL laboratories

There is a large number of people who are employed in a company in a so-called “at will” scheme. It means that they have not signed any formal or bind

There is a large number of people who are employed in a company in a so-called “at will” scheme. It means that they have not signed any formal or binding employment contract or have not signed any kind of agreement in terms of his or her employment with their employers. This being the case, the law of the state has implicit permission that their employment can be ended at any given time, whatever occurs to their employers. Meanwhile other employees have an employment contract signed with their employers, with a clause of “at will” to the condition that their employment may end depending on the employers’ option. Are you an “at will” employee? You may think that you have no say whatsoever on whatever your employer would “will” for you, like ending your employment without due process of the law. You may think that filing for wrongful termination charges against your employer is null because of the fact that you are an at will employee.Fret not. You and other “at will” employees in the country are still entitled to some degree of legal protection from an employer’s wrongful termination. You cannot be terminated for

How to Resign to Your Job Gracefully

There are numerous reasons why employees would want to quit their job. It can be caused by a bad relationship with colleagues, mental or physical issues, career change decision or wanting a greener pasture. This is always a crucial stage for everyone because of the fear of not handling your resignation properly because you wouldn’t want to burn bridges while your struggling to start anew. Resigning gracefully is possible, below is the top ways on how to do it.1.It is a norm to resign in person, be professional and face your boss. Set an appointment to discuss this pressing matter and provide a written resignation that contains your intention of leaving, the date you are resigning, the date you would like to live and affix your signature.2.Do not be a coward and announce your resignation through email, fax or phone. You need to be polite even if your leaving. And don’t ditch your job without a warning,

to Elect S Corporation Tax Status for Your LLC

An LLC can be taxed similar to an S corporation. If you are wondering, why you would even want this type of tax treament? Read on and I'll explain.Owners or members, as they are usually called, of an LLC have the choice to elect how the LLC will be treated for tax purposes. This is a fairly new option allowed by the tax regualtions. In the past, the Internal Revenue Service (IRS) classified business entities as either partnerships or corporations based on four different factors.The four factors included: (1) Limited liability; (2) Centralized management; (3) Continuity of life; and (4) Free transferability of interest. A business entity would be taxed as a partnership if it possessed two of the four characteristics. It would likely be taxed as a corporaiton if it possessed three of the four characteristics. This led to a lot of confusion and uncertainty for business owners.Then in 1997, new IRS regulations came into effect which allowed business entities like LLCs to elect the tax treatment they desired. These regulations became known as the "check-the-box" regulations. They can be found in Income Tax Regulations 301.7701-1 through 301.7701-3. The form for making the election is IRS Form 8832 and details about the election process are set forth in the instructions to Form 8832.The regulations give business entities like the LLC several different options. They can operate as an LLC but still enjoy the beneficial characteristics of a corporation while being taxed similar to a partnership. In the alternative, the regulations allow an LLC to elect corporation tax status and then make the S corporation election.In a nutshell, partnership taxation is a form of pass through taxation where the the income and deductions "flow through" the entity and are reported and paid by the individual partners. Most LLCs and S corporations are taxed this way. On the other hand, if an entity is considered a corporation, it will have to pay income taxes on its net profits and then when those proceeds are paid to the shareholders in the form of dividends, they will have to pay tax again at their personal level. This is called the "double tax" of

Voice Broadcasting: A Powerful Tool, But Dangerous In the Hands of Fools

Voice Broadcasting can be such a great technology for so many applications. It has been a popular and growing tool now for many years and for good reason. Imagine being able to deliver a message to large numbers of people without having to pay the cost of tele agents, and having the ability of sending one message to a live pick up vs. a different message to an answering machine. Add to this the marrying of interactive voice technology where a recipient is able to press a number key and be transferred to a live agent, or place an order for a product or service. It is the ultimate technology in terms of cost efficiencies and flexibility for marketers, political consultants, municipalities, collection organizations, and many other entities. But powerful tools in the hands of fools create a great deal of danger. See Bob Tuttle and Mark Edwards for details. Their firm "The Broadcast Team" (aka TBT) was recently fined $1,000,000 by the FTC and the Department of Justice for violations Telemarketing Sales Rule (TSR) in the course of using "voice broadcasting" to call millions of U.S. consumers using automated dialers and prerecorded messages.The Federal Trade Commission today announced that Tuttle and Edwards firm was charged with making tens of millions of illegal automated telemarketing calls and they have agreed to pay a $1 million civil penalty under a settlement reached with the agency and the U.S. Department of Justice. They had violated the Telemarketing Sales Rule (TSR) in the course of using "voice broadcasting" to call millions of U.S. consumers using automated dialers and prerecorded messages. A federal district court action brought by DOJ on behalf of the Commission alleges that the Florida-based telemarketer's automated phone dialing service called and then illegally hung up on more than 64 million people – and called more than a million numbers that were listed on the National Do Not Call (DNC) Registry. Lloyd Gomberg, Senior Vice President of Freedom telework Inc. said “The law is very clear- Even when Voice broadcasting is legally permissible the calling list still must be scrubbed against the FTC and various States Do Not Call Lists.”Gomberg further noted that Freedom Telework Voice broadcast