Many of the men who trained to be Mormon missionaries have gone on to become among the most distinguished persons in American business and civic life
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Troubled Economy Doesnt Mean Troubled Business: Plumber in Sc Succeeds Despite Economy, Why You Can Too!
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Home Page > Business > Entrepreneurship > Troubled Economy Doesnt Mean Troubled Business: Plumber in Sc Succeeds Despite Economy, Why You Can Too!
Troubled Economy Doesnt Mean Troubled Business: Plumber in Sc Succeeds Despite Economy, Why You Can Too!
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Posted: Oct 16, 2008 |Comments: 0
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Should you open a business in this economy?
Can you compete with business who already control the market?
Will customers buy during these economic times?
Yes! Yes! And Yes!
As Jeff a plumber in SC, Owner of Plumbing Solutions LLC, has found: “What makes a business strong really hasn’t changed.”The reality of the problem is, we are in a economic turmoil. The problem however will not get better from a surge of newspaper, media, and radio critics throwing words around such as “recession” In fact the problem itself has been escalated simply by these constant negative ideas.
John McCain so emphasized on “Joe the Plumber” and the effects of the economy on small business owners that you would think that somewhere along the align we could have mentioned a possible solution? But rather, both candidates did more to reassure us of what we already knew, people are hurting.
With all of this negative, can we find a way to maintain our hopes and dreams as Americans of owning a business? As Jeff puts it: “In our area traditionally there have been 3 major competitors that have controlled the market. This along with the economic news made us feel we had little chance to survive, but thankfully we found that what makes a business strong still hasn’t changed. Customers still need service and if you can provide that service, you can do business. Honesty, hard work, strong customer service, and the desire to do right by your customers can lead to a very successful business plan in any economy.”
So how has Plumbing Solutions LLC, a small plumber in SC, managed to go from small time to big time in this economy?
How can this be used in your business?
“Simply put we are always learning. Everyday we study our trade, study our customers, find out what they need. We are always managing and re-establishing effect means of reaching our customers and providing quality services that make them repeat customers. We don’t want to make a sell, we want to earn a customer.”
When asked, Jeff how can other business benefit and grow in these times, in short how can they apply what you’ve done to there business: “Well, again its easier than it seems. We have been serving customers with plumbing in the SC areas of Columbia, Chapin, Lexington, Irmo, Richland, and Gaston for the past 5-years. In that time we have noticed one thing remains true about all customers. They want options. For them to have options there needs to be a variety of businesses to choose from. The key then for gaining these customers is to set yourself apart. You don’t have to be the best at everything. Find an element you can bring to your services that no other can do quite as well and market on that. For example we market that we are 20-30% less than our competitors. This is true. Do to our low overhead and keeping our service offerings targeted to specific customers we are much less than the competition on these services. We target what we do best and we do it better, faster, and cheaper than the competition. When you are able to do that in a targeted area, with targeted services, the result is you stand out. You are the best fit for the customer.”
In short, I hope everyone can see that “Troubled Economy Doesn’t mean Troubled Business”. And “Joe the Plumber” best of luck to you!
This article was written based off of an interview with Plumbing Solutions LLC a Local Plumber in Columbia SC.
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Troubled Economy Doesnt Mean Troubled Business: Plumber in Sc Succeeds Despite Economy, Why You Can Too!
As Jeff a plumber in SC, Owner of Plumbing Solutions LLC, has found: “What makes a business strong really hasn’t changed.”The reality of the problem is, we are in a economic turmoil. The problem however will not get better from a surge of newspaper, media, and radio critics throwing words around such as “recession” In fact the problem itself has been escalated simply by these constant negative ideas.
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Investors barely blinked today when Brian T. Moynihan wrapped up his first year leading Bank of America Corp. by announcing more writedowns and a second straight quarterly loss. They may not be so forgiving for 2011.
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Wall Street Reform ACT and Nutritional Companies! ? “What does it all mean and why?” – An Overview -
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Wall Street Reform ACT and Nutritional Companies! – “What does it all mean and why?” – An Overview -
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Congressman Waxman (D-California) has created quiet a storm recently among not just the nutritional multilevel marketer, but as many of us believe…America itself through his attack of the health and wellness industry, and the livelihoods thereof. What does this new reform mean for you the multilevel nutritional supplement marketer and why is there involvement from the FTC?
The Wall Street Reform Act of 2009 and (D) California congressman Waxman have created what is about to be an amazing mess. For many in this economy the health and wellness and or, any multilevel marketing opportunity for that matter, has been a great place to help meet the financial needs today. So what do Wall Street and Mr. Waxman have to do with this? Easy answer and honest answer is…power. For many democrats in Washington the all knowing and wise government should now be looking out for you and your vitamin intake.
The new Act will create a new empowerment for a whole new government “company” that will have the power to literally up and pick any multilevel nutritional company and make them pay to prove what we already know about these quality products, that they truly do help us physically. It has never been about the products that have given this industry a shaky name, it was always the compensation plans and if you are a pyramid…you are out. The FDA has always had a good reign on the health and wellness industry , it’s practices and products, so why now are they about to cut off what many American families rely on for extra income? Power is the only answer I can truly find. I have read this part of the ACT and in truth this is really all about the power over individual lives. The government will now be able to take the company you are currently creating an income with and literally take them into their own private court and make them pay and prove their products…or shut them down completely.
The products in the health and wellness industry are better quality than you will find on shelves in the local superstore and that is a fact we all know. The fact the FDA cannot control the drug companies and already does a great job with the nutritional supplement companies is anyone’s best guess. For you who are involved with this industry it should be the biggest focus right now for you to literally jump up and say “NO!” to this crazy notion of yet another crazy politician who is hiding behind the democratic party with this big government socialist controlling beliefs. This is a disgusting farce that should not be because it hurts individuals in an already horrible economy, and it is utterly a slap to the face of what America is…GREAT AND PROSPEROUS!
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Federal Reserve Bank of St. Louis President James Bullard said a recent increase in market interest rates doesn’t mean the central bank’s expansion of monetary stimulus is failing.
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What does Owner Financing in Austin mean? – Austin Owner Finance
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Home Page > Business > What does Owner Financing in Austin mean? – Austin Owner Finance
What does Owner Financing in Austin mean? – Austin Owner Finance
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What does Owner Financing in Austin mean? – Austin Owner Finance
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Forte Properties is a full service real estate company that specializes in Owner Financed homes in Austin, TX and surrounding areas. We are your #1 Austin area Owner Finance experts. With the largest team of real estate professionals dedicated to ensuring your home buying process is hassle free and 100% legal along with dozens of real references, you can be sure you are in good hands.
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Selling a house or other Austin, TX real estate with owner financing may be unfamiliar territory for many, but anyone who plans to sell property against the current background of tough lending conditions may want to brush up on the basics.
Understanding the concept of owner financing is easy: the seller assumes the role of a bank and finances the buyer’s purchase.
The decision to provide owner financing, however, can be much more difficult; although providing owner financing could mean the difference in being able to sell a house, it could also mean a great amount of risk for the seller if the buyer eventually defaults on the loan.
As the U.S. struggles with a sluggish real estate market, owner financing presents a way for buyers and sellers to close deals that might not be possible with conventional financing.
There are some deals that just simply cannot get done (with conventional lending) because the credit markets are too tough for a particular buyer to qualify or because the type of transaction is perceived to be too risky.
There could also be a situation in which a buyer may not have sufficient capital for a down payment. Partial owner financing, in that case, can help fill in the gaps in closing a deal.
In addition, the benefits of owner financing can appeal to sellers who are trying to unload property. Closing a deal on a house, for example, may take considerably less time with owner financing than with conventional financing. While a conventional lender will scrutinize the collateral property to determine the level of risk, a seller who is already familiar with their property can form his or her own risk assessment relatively quickly.
Owner financing may also be an attractive choice for investment, potentially offering high rates of return. A seller can negotiate an interest rate that the buyer will pay them that is more favorable than would be available for other sorts of investments.
Furthermore, seller financing can provide some tax benefits by spreading out a large gain over time (check with your accountant or CPA).
If the seller structures the loan as an installment sale, there can be certain tax advantages to the seller as well in terms of the timing of recognition on the capital gain. The seller would need to discuss the details with a tax advisor.
Seller financing can be used to pay for a property either in full or in part. The terms of a full loan look similar to those of a conventional loan; however, a seller has a great deal of freedom in setting the terms, such as the interest rate and the duration of the payment period.
For instance, a seller might wish to provide owner financing as a short-term arrangement of five years, after which the borrower is expected to refinance the loan, presumably with conventional financing.
While sellers can be more flexible than banks in considering prospective buyers, they should nevertheless think like a bank when reviewing potential buyers. Examining documents and reports such as tax paperwork, proof of employment and credit history is prudent in determining a buyer’s ability to pay off the loan.
A seller who provides owner financing will need to get the mortgage recorded in accordance with the specific execution and acknowledgement requirements of the State of Texas. Sellers should also work with a title insurance company to perform a title search and purchase title insurance to secure the right priority for the mortgage.
A title insurance company can also serve as a good resource for understanding how much it will cost to record the mortgage. In Texas, the cost to record a mortgage or deed of trust is minimal, consisting of a basic administrative fee added to an amount that varies according to the number of pages.
Generally, the overall cost to seller finance will depend on how many documents are involved and how sophisticated those documents need to be. The size of the property and the intensity of due diligence procedures factor into these costs.
If it’s a simple scenario, such as a small little residential deal, it might be under a thousand bucks. If you provide seller financing for a sophisticated apartment building or strip center it can be multiple thousands of dollars. If you’re in the Austin, TX area, Forte Properties is your #1 choice for owner financed home transactions.
Documentation is perhaps the least of a seller’s worries. For most sellers, the initial decision to provide owner financing can be the most significant hurdle they encounter.
Documentation-that’s not a big deal. It’s done all the time, there are a lot of good lawyers that do it. It’s deciding to do it, and deciding on how to manage the risks inherent in providing owner financing when you’re a casual seller-that’s the biggest difficulty. Again, if you are interested in owner financing whether you are a home buyer or seller, Forte Properties in Austin, TX can help you every step of the way.
In most cases, sellers prefer to have cash instead of a promise by the buyer to pay them later. In addition, sellers who consider owner financing need to understand the risk that the buyer might not pay you in whole or in part, or might have financial distress situation arise down the road, where after a year or two the payment stream to you is disrupted by their financial distress.
Because sellers do not have the same resources as conventional lenders, financing a buyer can be even more intimidating. While banks can absorb the risk of nonpayment by spreading it across their entire loan portfolios, an individual seller isn’t typically able to do that. Furthermore, it’s more difficult for a seller to choose the best loan terms in accordance with the perceived risk/return.
There’s no science to that because you’re not a conventional lender. Because of the serious risks involved with seller financing, sellers should do their homework ahead of time and decide whether it is an option within their level of risk tolerance. Preferably, a seller should make this decision early in the process of selling a property, well before any offer is on the table.
You need to decide that up front so that you can package your materials in contemplation of what you’re willing to do relative to seller financing.
Lawyers who are familiar with financing and financial documents can be critical resources in the time preceding and immediately after making the decision to offer owner financing. A lawyer can help a seller understand the ramifications of owner financing and design the appropriate paperwork.
Sellers just need to be prepared for what happens if the deal goes south. Sellers can then adjust the language and terms in their loan documents accordingly, such as setting a higher interest rate that’s reflective of the higher risk, or requiring personal guarantees and other forms of credit enhancements.
As the popularity of owner financing has increased, the Texas Association of Realtors has witnessed an increase in the use of its promulgated Seller Financing Addendum. If you are considering a Austin, TX purchase involving owner financing (either as a buyer or seller), you should consult Austin’s #1 Owner Finance Specialists Forte Properties at http://www.GreatHomesTexas.com. They have a team of real estate professionals in various facets of the real estate market and are very familiar with the Seller Financing Addendum and all other documents required when buying or selling homes with owner financing.
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Forte Properties is a full service real estate company that specializes in Owner Financed homes in Austin, TX and surrounding areas. We are your #1 Austin area Owner Finance experts. With the largest team of real estate professionals dedicated to ensuring your home buying process is hassle free and 100% legal along with dozens of real references, you can be sure you are in good hands.
Visit us online at:
http://www.GreatHomesTexas.com or
http://www.AustinOwnerFinancedHomes.com
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Forte Properties is a full service real estate company that specializes in Owner Financed homes in Austin, TX and surrounding areas. We are your #1 Austin area Owner Finance experts. With the largest team of real estate professionals dedicated to ensuring your home buying process is hassle free and 100% legal along with dozens of real references, you can be sure you are in good hands.
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