Posts Tagged ‘Real Estate’
Marc D. Manoff: Entrepreneurial Expert And Business Consultant Helping Companies Achieve Measurable Successes
Marc D. Manoff’s entrepreneurial mind and spirit first appeared back when he was in elementary school. Realizing his stickers and candy supply were in high demand among his grade-school classmates, he created his very first business by selling these items in the schoolyard. From there, his corporate capabilities flourished, as he’s demonstrated in the number of successful businesses he has started, managed and sold in a variety of industries. Whether manning the helm of an employment verification organization, acting as owner and broker of a real estate firm or leading the team at his automobile services company, Marc D. Manoff has consistently proven that he is a force in the corporate arena.
Marc D. Manoff Consulting: Uniquely Designed Strategies And Customized Business Solutions
Marc Manoff has proudly announced that Marc D. Manoff Consulting is his latest commercial endeavor. Drawing on his unique experience as both an attorney and lifetime entrepreneur, Marc Manoff is partnering with companies to help them successfully engineer a new business path to success.
As a business owner himself, Marc Manoff empathizes with the obstacles and hurdles endured by entrepreneurs. He uses his firsthand experience and knowledge of his clients’ business needs, objectives and visions to design a specific strategy focused for success. Whether looking to redefine, realign or rekindle your business approach, Marc D. Manoff Consulting can help!
Have you recently filed for bankruptcy? And you think that your filing might create impediment while you plan to invest in real estate. General idea about filing bankruptcy is that the lender denies granting loan to the filers.
The way you think might be valid but the situation is much different. Filing bankruptcy generally ruins the credit report but there is an opportunity for you where you can fetch loans for future investments.
You need to restore positive credit that is adversely affected after filing bankruptcy. Your bankruptcy attorney can help you to suggest different options to get you back on track. If you improve your credit it might add credence while investing in your real estate business.
Different ways to improve your financial state:
1. Look for personal loans- After filing bankruptcy you can look for loans in your local banks but do not fail to inform them about your financial conditions. You can start with small amount of loan that you can request your banker to grant. This small amount of loan with low interest rate would prove to be beneficial as they improve your credit score because you can afford to pay off with ease. As you pay off the owed amount there is a constructive impact on your credit report.
2. Opt for secured credit cards- Once you file for bankruptcy your credit report would be damaged immediately. Often the credit card companies deny to give you credit immediately after filing bankruptcy. If you apply for a secured credit card then you might get hold of a card immediately. If you deposit equal amount same as your credit line then you can easily fetch a secured credit card. The deposit amount would work as collateral as it would give assurance to the bank if you fail to make the payment on time. Try to make minimum monthly payments as that would give a positive result.
3. Look for a co-signer- If you find a co-signer with a good credit score then it might have a positive impact on your credit report. Request your family members or friends to get associated with you as an authorized user so that you can reap the profit of their credit report. Your credit score would have positive result with the impact of a co-signer with an excellent credit score. In future you might not face hassle when applying for a loan while investing in real estate.
4. Bird Dogging- You make the investor’s job easy by highlighting the available property for investment. Your job would be to make the investors aware of the location of the project as these properties does not come under formal agreement. If the investor manages to accept the deal then you might be rewarded with a “finder’s fee”. You can get a substantial income along with the experience on real estate investments.
5. Wholesale dealings-Bird dogging’ improved version is the wholesale dealing. Even here you need to highlight available properties. But there lies a difference you make an agreement of property and in order to reap a profit you sell the deal to another investor. Along with extra income there would be many risks associated with it.
The number of business financing alternatives that are available to small and medium sized companies has dropped dramatically as a result of the financial crisis. Until recently, most owners could get a business loan by posting their house as collateral. Now that real estate prices have dropped substantially, banks find themselves saddled with worthless collateral and are being extremely careful with their loan portfolios. Only companies that can show profitable operations for a number of years, strong financial statements, demonstrated management leadership have a reasonable chance at getting business loans. Everyone else will need to find an alternative.
One alternative is a type of self liquidating transaction called invoice factoring. A self liquidating transaction is one that carries it’s mechanism for its own repayment. This feature makes them a very attractive source of financing to some companies.
Factoring is commonly used by companies that give 30 to 60 days invoice terms to their clients. Although large clients demand these payment terms, many small to medium sized companies can’t afford them. They need to get paid sooner so that they can meet their operating expenses. This is where invoice factoring comes in.
In a conventional factoring transaction, the client makes the sale, sends the invoice to the client and the finances it using a factoring company. The factoring company funds the invoice in two payments. The first payment covers about 80% of the invoice and is given soon after invoicing. The second payment of 20 % (less fees) is sent once the invoice is paid in full. The second payment closes – or liquidates – the transaction.
One immediate advantage of invoice factoring is that it allows clients the ability to offer payment terms to their clients with confidence – knowing that they can get money sooner if their business requires it. Additionally, factoring transactions are based on the credit strength of the invoice backing them. This allows small companies, who sell to large credit worthy businesses, to leverage their roster of clients to get financing.
Factoring is ideal for small and midsized companies whose biggest problem is that they can’t afford to wait 30 to 60 days to get paid.