Factors to consider when establishing a retail business

Experience and knowledge of the business in mind is one of the factors to consider when setting up a retail business. The lack of that experience can reduce the success rate of the business, since it will not be able to deal with the problems inherent in that branch of retail. Therefore, it pays to work first as an employee. The branch of retail trade contemplated is another factor to consider.

You have to consider if your financial sources are adequate and if you know enough about the business. For example, to set up a cafeteria, you might need something like $200,000, while to set up a small food stand, you might only need $2000. On the other hand, there are other factors that need to be considered as well, and they are numerous. in number, such as the location of facilities, the adequacy of capital, the sources of supply of goods, the law of comparative advantage, and lastly, laws and regulations.

To decide on the location of premises or on a particular area, for example; in the center of the city or in any urbanization or even on which side of the street to set up a store and for this you have to take into account factors such as:

• The “demand” for your product. For example, if you are thinking of opening a jewelry store, it would be more profitable to have one in town. The market is much bigger since people from the suburbs and the city come together there.

• “Competition” from stores that sell similar products. Normally, you would be wise to stay away from areas where there is competition, unless you can offer better service at lower prices or demand expands in the near future.

Rents in the city would certainly be higher than in the suburbs. If you intend to buy the premises instead of renting it, you will most likely need more capital. If you do not have the necessary capital, you can obtain it through friends, family, banks or other financial institutions. Examples, financial companies.

It is important that you know which wholesalers to go to. Some may give better discounts and others may give longer credit. Is the law of comparative advantage more profitable to stay in your current job earning your monthly salary plus interest on the savings you have accumulated? Remember, if you become a retailer you have to give up your salary and interest on your savings. Therefore, your net profit from the retail sale must be greater than the amount you have given up.

Laws and regulations are another factor to consider when setting up a retail business. You should do a study of the business laws regarding the line of retailing that you want to venture into. Do you have to get a license? Can you trade with the specified goods and in the place selected by you?

Start your cruise vacation from Barbados, for a fabulous 7-day cruise of the southern Caribbean

Barbadian Presentation

The Caribbean island of Barbados has more than its fair share of sandy beaches, palm trees swaying in the sea breeze, and warm blue waters. Add in the welcome and friendliness of the locals, and it’s no wonder you have a favorite vacation destination. In the 18th and early 19th century, Barbados functioned as a sugarcane economy under British rule, and some original sugar plantations can still be seen reviving as museums depicting the hardships of slaves working in the sugar fields. sugar. Today the people of Barbados are called Bajans, and the ancestors of the old plantation system exist in relative harmony under democratic rule.

Of particular interest to the cruise ship tourist is that Barbados is the easternmost island in the Caribbean, so it usually avoids the terrible effects of tropical storms in the area. This is due to the fact that the island is situated just outside the main hurricane zone (on average, a hurricane only hits the island once every 26 years). This makes Barbados a very attractive cruise port, and in recent years, thanks to the nearby and well-connected Grantley Adams International Airport, the island has justifiably become a busy departure point for cruise ships.

bridgetown harbor

The Port of Bridgetown, or more correctly called the Deepwater Port, was built in the 1960s just a mile north of Bridgetown (the capital of Barbados). In 2002, the central channel was deepened to allow larger ships to use the facility. The deepening of the port has been a great success, leading to strong growth in both freight and cruise volumes. The port has 4 berths giving 1,531 meters of quay and can handle 5-6 large cruise ships. The 4 berths are the breakwater (522 m long), the sugar berth (307 m long), berths 2/3/4 (total length 550 m) and the Esso Dock (244 m), located outside the breakwater. (Editor’s note: If her ship is moored at Esso’s jetty, don’t feel inferior to her, because she’s usually chosen a great-value cruise!)

Between the docks and the port entrance is the cruise terminal, officially opened in January 1994. This is where you will book your cruise. The terminal houses the normal departments for handling cruise ship passengers, such as Immigration, Customs, Health Center, Animal Quarantine, Post Office and the Barbados Tourist Board. In addition to restaurants and bars, a business center and an Internet cafe. The terminal has plenty of space dedicated to shopping, with more than 20 duty-free shops offering beautiful jewelry, attractive tableware, the latest electronics, and locally sourced crafts.

Top 5 Things to Do in Barbados (Editor’s Pick!)

Hopefully, you’ll have a day or two available on one side of your cruise to explore beautiful Barbados. Not to be missed are:

1 beach

The island’s beaches are all open to the public. Nearest Bridgetown are the magnificent beaches of the Gold Coast. Payne’s Bay is ideal for swimming. Adjacent to Paynes Bay is Fresh Water Bay, with a beautiful trio of beaches, Brandon’s Beach, Paradise Beach and Brighton Beach.

2 Mount Gay Rum Distillery and Banks Beer Tour

If you enjoy an alcoholic drink (or two!), take a guided tour and tasting at Barbados’ premier rum distillery, then continue with a trip to Banks Brewery for some local brew.

3 Welchman Hall Ravine

A beautiful sub-tropical garden owned by the National Trust of Barbados. You will almost certainly see a group of wild monkeys.

4 Sunbury Plantation House

A large plantation house whose interior is open for viewing. The 300-year-old house is rich in history, with old prints, carefully written accounts, antique hardwood furniture, and a collection of horse-drawn carriages.

5 Broad Street in Bridgetown

Bridgetown’s main thoroughfare. Broad Street is lined with duty free outlets, bank offices and department stores. A good detour is Swan Street, which has many cheaper clothing stores and some cozy terrace cafes.

Choosing a cruise from Barbados

Thanks to its ideal location in the middle of the southern Caribbean, Barbados is an excellent choice as a starting point. Itineraries offered include the Greater Antilles (Jamaica), the Windward Islands (Dominica, Martinique, Saint Lucia, Saint Vincent), the Leeward Islands (Saint Bartholomew, Saint Martin, Saint Kitts, Nevis, Guadeloupe, Trinidad and Tobago ), the Netherlands Antilles off the north coast of Venezuela (Aruba, Curaçao and Bonaire) and even the Brazilian Amazon.

A favorite is a 7-day southern Caribbean circuit calling at St. Lucia, St. Kitts, St. Martin, St. John, St. Thomas, Dominica (southern caribbeandeparting every Wednesday at Carnival Victory).

Other ideas are Great Adventurer of the Caribbean (of Princess Cruises) calling at St Vincent, St Georges, Bonaire, WIllemstad, Grand Cayman, Jamaica, Dominican Republic, St Thomas, St Kitts, St Johns, Dominica or, for the adventurous, Caribbean and Amazon (PO Cruises) with calls in Grenada, Santarem, Parintins, Manaus, Tobago, St Lucia.

Traveling to the Cruise Terminal from Grantley Adams Airport

Grantley Adams is 13 miles from the Port of Bridgetown. The airport is served by planes from North America, Europe and other Caribbean islands. The journey from the airport to the cruise terminal is easiest by taxi and takes about 30 minutes. The charge is around fifty Bds. (Editor’s note. It’s a real pleasure to be able to speak to (or at worst argue with) the taxi driver in English, rather than being at a complete disadvantage for not knowing the local language. In my experience, Bajan taxi drivers They are friendly and don’t overcharge.

It is also worth knowing

The Barbadian dollar (Bds) is pegged to the US dollar and one Barbadian dollar is always worth half a US dollar, with a rate of 1 US dollar = 2 Barbadian dollars.

Each traveler arriving in Bridgetown must pay a tax of US$6.

The official language is English, but Bajan (a local dialect derived from English and generally difficult to understand) is widely spoken.

The Howey Test (aka Why Investing Private Money Involves the SEC)

Have you ever heard of the ‘Howey’ test?

If you want to raise money from private investors to finance real estate investments, you need to know what the Howey test is and what it means for you.

J. Howey was a Florida businessman who sold real estate contracts to finance the development of citrus groves he owned (a type of leaseback sale arrangement). Howey was offering people to buy the groves from him and then lease them back, so that the buyer would make his profit from the rents Howey received from tending the land.

So what? Who cares? How does this impact you? keep reading…

The issue the SEC took with J. Howey and his real estate business was how he was marketing his investment opportunity. You see, Howey marketed his land sales through promotional materials at resorts in his area. He promised big profits to those who received the sales presentation expressing interest. Most of Howey’s buyers were not Florida residents or had farming or farming experience.

The SEC (which regulates securities laws for real estate investors) filed a lawsuit against Howey, seeking an injunction to prevent Howey from using the mail and other means of “interstate commerce” to offer what they called the sale of non-exempt and unregistered assets. security.

The Supreme Court ruled that Howey was offering an “investment contract” as defined by the Securities Act of 1933. As part of this ruling, the Supreme Court developed a test to see if an opportunity constitutes an “investment contract.” This test was called the “Howey Test”.

An investment contract under the Howey Test was defined as follows:

1. an investment of money due to

2. an expectation of gains derived from

3. a common company

4. Relies solely on the efforts of a promoter or a third party

What this meant to J. Howey, and to all future real estate investors, was that whenever you’re looking for investors, whether the investor signs the deed or has a mortgage, if the investor trusts you to earn your profit, you are considered to be selling a security. Howey’s test set the standard for securities laws in raising money for real estate investments.

Since you are selling a security when you raise private money, you must comply with securities laws.

I have found it useful when raising private money as well as teaching real estate investors how to raise private money, going over the basics of securities laws and how they came to affect us. Honestly, when you’re focused on your financial goals (and real estate investing as a vehicle to achieve them), nothing should deter you, especially regulations. Once you know the rules of the game, you can play the game much better.

You should always have a qualified securities attorney assist you with your private money offerings. I have a trusted team of professional advisors and my securities attorney is at the top of the list, and I seek his advice frequently. Never be wise or foolish when it comes to your powerful team of advisors.

***This information is for educational uses only. The content of this article does not constitute legal or tax advice. The author is not providing any type of legal, tax or professional advice. Before entering into any business transaction, please consult the appropriate legal and tax advisor.***

Why invest in the Saint Lucia real estate market?

The Caribbean island of Saint Lucia is beautiful, unspoilt, and undeveloped. Encouraged by the government, tourism is steadily increasing year by year. This growing popularity has led to several new luxury vacation developments being started within strict environmental protection planning laws.

The island wants to encourage tourism and at the same time preserve its natural heritage from overdevelopment. To make this possible, the government has introduced almost 30 laws covering planning restrictions on new construction and development. At the same time, the budget allocation to tourism has been increasing by 4.7% year-on-year since 2003.

While many visitors arrive by sea on private yachts, most arrive from the US or UK by air. New York, Philadelphia, Atlanta, Charlotte and Miami provide easy access from the US, while three major airlines fly direct from the UK with a journey time of 8 hours. Many visitors are showing great interest in the local property market.

The government and economy are stable and the island is a safe haven for tourists, enjoying one of the lowest overall crime rates in the Caribbean. The World Bank recently ranked Saint Lucia as one of the top 30 countries in the world to invest in, ranking ahead of Barbados and Antigua.

In addition to the island’s stable government and economy, there are very favorable tax concessions for those interested in the real estate market. Foreign buyers enjoy benefits that do not include Rental Income Tax, Capital Gains Tax, Inheritance Tax or Repatriation Tax. Property prices are currently 60% lower in St. Lucia than in neighboring Barbados, although it has many of the same advantages and has increased by around 40% per year in recent years. They are expected to continue increasing over the next 5 years.

This beautiful and peaceful island has seen an annual increase in the number of tourists. This growing popularity of this eco-friendly island as a holiday destination means there is excellent rental potential for properties where the average hotel occupancy rate is almost 70%. Everything indicates that the Saint Lucia real estate market is a good investment.

This Is Exactly What You Need To Start A Foreclosure Cleanup Business

When it comes to the best business to start in 2010, foreclosure cleanup has to be among the top business opportunities for several reasons. The main one is that the foreclosure crisis is not over. Proof?

Even though the housing sector is starting to recover very slowly, there are still millions of foreclosed properties that have yet to hit the market.

According to leading financial industry experts such as Standard & Poor’s and Moody’s, as of February 2010, there are an estimated 7.7 million homeowners in default on their mortgages. However, these are not being reported by banks as bank-owned (REO) properties.

Many Lenders Don’t Purposely Foreclose because they don’t want to flood the market with more inventory because it will drive home prices back down. In short, foreclosure cleanup companies will have their work cut out for them, for years to come.

Now that you know why starting a foreclosure cleanup business will be a good deal for years to come, here’s what you need to get started.

1. A business license: This is not a business where you can “fly” without a license. To be taken seriously and eligible for things like HUD foreclosure cleanup contracts and foreclosure outsourcing opportunities with your local housing authority, you must be licensed as an official business.

Note: Beginning in March 2010, many housing authorities across the country began receiving stimulus money from the government. This means that local jurisdictions will have money to finance many projects that are ideal for foreclosure cleanup companies and other real estate service companies such as: appraisers, termite and pest control companies, construction contractors, plumbers, electricians, construction companies, etc. roofing, lawn care companies, etc. .

However, you must be a licensed business to be able to engage in any type of foreclosure cleanup work with these government agencies.

2. Safe: Banks, lenders, real estate agents, etc., simply won’t want to deal with your company unless it is properly insured. In fact, says the owner of an Atlanta foreclosure cleanup business, “it’s often one of the first things they ask you when they contact you about work.”

You also need it to protect you, your workers and your property as your foreclosure cleanup business grows.

What type of insurance does your foreclosure cleanup business need?

The answer is, it depends. At a minimum, you’ll need auto insurance and liability coverage for your vehicle(s). If you hire employees, you will also need workers’ compensation. Every part of the country is different and every county has different requirements.

Call the local insurance agencies that serve your area and tell them about the type of business you are starting. They will be able to guide you in making a decision about the type of insurance you need.

As far as what you need to start a foreclosure cleaning business, license and insurance, that’s about as far as “going into business.” Now, you’re ready to market to “get the business.”

I can’t live without my portable vacuum cleaner

I don’t know what I would do if I didn’t have my portable vacuum with me on my travels. Especially if you have young children and boisterous passengers, the cleanup of crumbs and other debris left behind after a tasty meal inside your car can be easily vacuumed up with your versatile little hand vac. I suggest you keep it in the trunk of your car for those emergency cleaning jobs. For example, I have a real estate agent friend who shows houses to people with kids and she has to clean up really quickly between trips with different clients and that’s when her portable dirt demon comes in handy.

If you’ve ever tried to clean a small area with a large vacuum that has about 50 feet of power cord, you know this isn’t practical at all. You are probably endlessly dreaming of your nearest neighbor having a cordless vacuum cleaner that can be stored on your back through the use of a backpack.

I’m not saying that everyone has a lot of cleanliness phobias, but I personally do. You have to make your life as simple as possible nowadays as time is money. We all have our handheld phones, now go out and buy your handheld vacuum today. It will make your life less stressful and you will never have to worry about someone finding cookie crumbs in between your seat cushions on your beautiful new sofa.

How back taxes owed on houses can make you rich

You’ve probably heard that investing in real estate is one of the best ways to get rich. This is true, but you have to really know what you’re doing, or you’ll find yourself in a lot of trouble right from the start. Don’t worry, even Donald Trump didn’t get to where he is without a little help; and he will not be your competition, if you are going to work with the back taxes owed on the angle of the houses.

If you’re going to invest in today’s economy, these properties are excellent investment material, almost always mortgage-free, which means they’re brimming with equity and ready to sell for a big profit. You can’t ignore them if you want to be successful in the years to come – there will be more and more of them as back taxes owed on houses catch up with their owners and they lose their property to tax sales.

First of all, what does this mean, “back taxes due on homes”? Well, it’s simple. When a homeowner doesn’t pay his taxes and falls behind, his home will be delinquent in the county in which he lives. It differs from county to county, but sometime within a few years, typically, if homeowners are unable to come and pay back taxes owed on their homes, then the county will foreclose and liquidate the properties.

Liquidation occurs in one of two ways: the deed to the property is sold or a lien on the property is sold. Sometimes this is done by auction, other times by lottery, and other times by rotating shifts. It can happen in different ways, even within the same state. It is a very competitive way to get property. Buying tax liens or deeds has become very popular, and with the rise in popularity has come a sharp decline in the profits made that way.

You will avoid all that. If you want to make money on back taxes owed on homes, you’ll need to stay one step ahead of tax sale investors and get the deed to the property before the auction, without bidding, or after the auction, at the redemption period where the owner can still redeem their home (usually about a year).

As?

Well, it’s surprisingly simple, and yet if you pay attention, you’ll see that hardly anyone does this. Because? Maybe they are antisocial. They may feel guilty about getting involved in other people’s business when they are “down on their luck.” Maybe they are just chicken.

What am I referring to? Simply by contacting the owner and dealing directly with him.

Let’s say it again: you can get rich invest in back taxes owed on homes, but only if you can be sure that the property will be yours once you pay those taxes. The way to do this is to not bid on the deed or a lien at the auction; the owner can still go back and pay that, and get his deed back from under you. The only way you will be able to invest in such secured properties is if you deal directly with the owners.

It may seem counterintuitive to you, but you’ll be surprised how often these homeowners are happy to hear from you. By the time the tax sale gets underway, these homeowners are desperate to get out of tax delinquency, and will be primed and ready to sell to you for pennies on the dollar. You’ll also find absentee owners and heirs who inherited unwanted property just dying to get the load off their shoulders and sell it to you for a few hundred or thousands of dollars.

The million dollar challenge

The challenge

What would you do if a million dollars suddenly landed in your lap tax free? I can list all the things I can buy and spend, but here’s another question you may not have thought of: How would you grow a million dollars?

I have read so many stories about successful people who started with little more than a few dollars and turned it into fortunes. What if you could start with a million? Would you have it easier? Could you make it five million, maybe ten or even a hundred? How would you do it?

I’ve been reading about Chinese culture lately and your investing method caught my attention. The Chinese have a simple rule of thumb about what to do with a sudden windfall of cash that somehow makes sense. If you had a million dollars today (tax free), you would follow these steps:

10% = fun money

Fun Money is simply spent on whatever you want! $100,000 sounds like a lot of fun! I would buy the Mercedes Benz that my wife and I have always wanted. It’s an E cup. That would probably knock out half my fun money right there. (sniff.sniff) The rest would be spent on paying off debt (credit cards, car payments, etc.), as well as making necessary repairs, modifications, and improvements to my home, and travel time with my family.

20% = low risk-low (to medium) return investment

A low risk, low (to medium) return investment is an investment that requires a lot of capital, but the ROI (return on investment) will be “slow but sure.” Within these lines I can venture into a series of franchises (food with good brands) or buy some real estate (land, apartments, etc.) that provide monthly checks and keep the investment at an appreciable rate. The goal here is to make a safe investment. There are no guarantees on anything, but these investments are considered less risky.

10% = High Risk High Return Investment.

This investment is simply a high risk endeavor with a potentially high return. They can be joint ventures with partners to form a company that brings a new and exciting high-potential product to market, sets up a new restaurant, etc. This can also be used as funds to be a venture capitalist for entrepreneurs with great ideas but little capital. On the other hand, if a good opportunity does not present itself yet, the money can be used to invest in the stock market, mutual funds or bonds, but the fact is that it can be liquidated in a short period of time when the right arises. the opportunity presents itself.

60% = Savings / Sleeper

Ultimately, $600,000 would be put to work through bank time deposits, CD’s, etc. The interest earned would be a nice reward. It can be used for more savings or to finish paying off the mortgage. The important thing is to let this large amount of money work for you. Can you imagine having $600,000 working for you while you relax? =) I would hire a financial planner who can introduce me to a lot of safe investment vehicles with good interest rates.

So out of a million dollars, 60% is intact and growing, while the other 30% is invested and already working for you. There are checks that arrive month after month without you having to work very hard to get them. This is called passive to semi-passive income. For me it is the right way not only to live life but to enjoy it.

So what would you do with a million dollars?

Avoid dealer status when changing house

Any investor who sells more than one or two properties a year will find themselves in trouble with the IRS qualifying them with “dealer status” for tax purposes. This is extremely dangerous stuff. Dealers, like real estate agents, are considered self-employed and are subject to the 15.3% self-employment tax. Worse yet, a dealer can’t pay taxes in installments when he uses owner financing. All property tax must be paid in advance, even if full payment has not yet been received.

The most important factors that the IRS seems to use to determine whether or not someone is a real estate broker are the frequency of property sales, the number of properties sold in a year, and whether there is continuity in the process to suggest that selling properties is the actual intent of the business. If the properties are held for more than a year before being sold, this may also contradict an investor’s activity being considered a “dealer”.

There are several ways to handle a significant number of transactions per year and still retain the tax advantages of being an investor rather than a trader:

1. Invest property through a limited partnership, self-directed IRA, Coverdell education savings account, or individual 401k plan. In a limited partnership, only the general manager will be considered a distributor. Trusts and various types of self-directed savings and retirement accounts are considered passive investments and these plans do not imply active participation in a business.

2. Form a joint venture agreement with an active investor or broker who will essentially create a “made for you” investment strategy for buying and selling wholesale. That joint venture partner may well be considered a “dealer,” but as long as you or your entity do not have title, you are not directly involved in any change of ownership activity.

3. Place each property in a separate LLC or trust and transfer the LLC or trust in lieu of the property that is within the entity.

4. At a minimum, be careful to separate your wholesale fix-and-change business from other business, such as your “buy-and-hold” operations or any deal involving installment sales.

Planning how to finance and maintain your property can be just as important in determining the success of your real estate investment as the actual selection of properties you decide to purchase. Having the brand with dealer status could cost you a lot of time in the long run. Make sure you’re trading smart!

Buying or selling property in Cyprus – an investor’s dream

Buy or sell property in Cyprus, the choice is yours. Property for sale in Cyprus is a buyer’s market as prices are cheap, but economists have predicted that they will start to rise soon, so your investment could be worth much more in a couple of years. Grab some geographic maps of Cyprus and take a good look at the different areas, are you looking for a beach property or a city property or perhaps a mountain retreat? There are some impressive villas in the mountains and equally impressive properties in coastal areas.

Property is selling fast so if you are looking to buy or sell property in Cyprus you better hurry as these prices will not last much longer it has been forecast that property sales in Cyprus will start to rise during the next year. Property prices vary across the island, but not hugely; Typically, a property on the coast is more expensive than a mountain retreat. Take a street map of Cyprus and take a look at the residential areas, is this the type of area you are looking for or are you looking for a less densely populated location? Take a look at some geographical maps of Cyprus and decide where you want to invest. Buy or sell property in Cyprus? It’s definitely a buyer’s market.

Cyprus is steeped in history and there is plenty of evidence of this as you drive around, there are castles and ancient ruins no matter where you are on the island. There is even a perfect Roman amphitheater near Limassol where, in the summer, they have live music and plays. It is a beautiful place with the sea as a backdrop, absolutely stunning.

Take a leisurely walk through the ‘old towns’ but remember you will need a street map of Cyprus as there are a lot of little lanes and you could find yourself miles from where you started, not that this is a bad thing as the scenery is beautiful and some of the buildings are magnificent.

Buy or sell property in Cyprus the choice is yours but it is a buyers market as prices are now low you will almost feel like you have been given your property but it will not stay that way for long as it has been predicted that prices will skyrocket in the next few years, so you could almost double your money if you invest now. Imagine, if you buy or sell a property in Cyprus at the right time, your small apartment that you invest in now could become a large villa in a few years. Where else could you do that in the Mediterranean?

The Mediterranean is famous for its healthy lifestyle, the salad and fruit you eat for dinner may have been picked just hours before, how much fresher can you get? Why not try a Cypriot meze? But be careful, you must go hungry or have a big appetite as the food just keeps coming and coming and coming, sometimes up to 25 plates. Why not try the Commandaria wine or a local village wine?

Cyprus geographic maps are great if you want to explore the island, and there is a lot to see, there are the wonderful Troodos mountains, where the flora and fauna change almost daily and you can also see some rare plants growing around the hills. they are lucky.

There are many airlines that offer cheap flights to Cyprus, so whether you want to buy or sell property in Cyprus, you can start saving by booking one of those cheap flights and take a look for yourself. You won’t be disappointed in what you see, of that we are sure.