Real Estate

Benefits of BIM Services in the UK

BIM Services in the UK

Building Information Modeling (BIM) is an advanced technology used to create 3D models of buildings. This type of model helps in the collaborative working of various stakeholders and helps in enhancing the quality of a building. It is also helpful in achieving cost-effectiveness in construction projects. To find out more about BIM, please visit the website of Silicon engineering consultants pvt. ltd. If you are looking for a reliable BIM service provider in the UK, contact us today!

One of the most important BIM services is LOD. LOD is a technical term that defines the development stage of different BIM systems. It is an important service that helps in enhancing the communication and clarity of the project. This technology will help in reducing the time it takes to complete the project. Moreover, you will also get accurate specifications of the building’s different stages. This will facilitate the project delivery. This type of service is provided by a company that is experienced in BIM.

Another benefit of using BIM is its ability to present 3D models. BIM can be viewed in 360 degree views. In addition, BIM can be viewed in different LODs and stages, allowing you to better understand how the building will look in the future. This tool also helps in the resolution of clashes and ensures a productive working relationship. Moreover, it is the best option for those who wish to use BIM on their projects.

Benefits of BIM Services in the UK

If you are looking for BIM services in the UK, Silicon engineering consultants pvt. ltd. is the best option for you. This company offers full-featured 4D BIM modeling services at a reasonable rate. The services they offer are of high quality and are suitable for any budget. If you are looking for a reliable BIM service provider, you can rely on these experts and enjoy cost-effectiveness.

The benefits of BIM are many. It is useful in designing buildings, analyzing them and evaluating their efficiency. It helps in ensuring that the design is the best choice for the client. Its BIM services allow you to see a 3D model of the building. They also help you to resolve clashes. A collaborative model can be viewed in different stages and LODs, allowing you to see the progress of the project.

A BIM service provider will take the design and layout of the building from paper to digital format. During the construction process, it is essential to use BIM software to ensure that the final project is created in the right manner. In addition to this, the BIM services UK firm will use tools and software to ensure the accuracy and the consistency of the model. It will help you get the most from BIM. If you want to learn more about BIM, visit our website.

Real Estate

Proof of funds for commercial real estate investors

Creative financing

When a commercial real estate investor is looking to purchase an income-generating property using any number of creative financing methods, one of the most important keys to their success is their ability to provide an adequate and verifiable proof of funds (POF) both at the seller as the lender. Verification of funds can improve investors’ credibility with the seller, as well as satisfy the requirement of lenders to know that the borrower has the necessary funds to complete their transaction.

Funds Test

There are a few acceptable ways for lenders and sellers to display POF to close your commercial real estate transaction:

  • Bank statements or bank verification
  • Brokerage or verification statements
  • Escrow account verification

“Bank Verification” This is the most acceptable and widely used method of confirming that investors can complete the proposed deal. As such, the money must be deposited into a bank account and confirmed by bank statements or letter from the banker. This is a “hard” (versus soft) verification method, because the money is deposited into an account in the buyer’s name to serve as proof that the buyer can complete the transaction.

“Brokerage Account Verification” Like bank accounts, brokerage accounts show acceptable means of completing a purchase transaction. Likewise, statements or letter from the representative of the brokerage firm will comply with the requirement of proving adequate financial strength. This is also a “difficult” method.

“Escrow Account Verification” This is the only method that can be a hard or soft proof of the assets required, as the escrow agent simply needs to write a letter of confirmation that the borrower has the necessary assets. finances available to complete the transaction. It becomes difficult when the money is transferred to an escrow pending the closing.


Finally, there are companies whose sole purpose is to provide evidence of the financial capacity of Commercial Real Estate Investors to complete their transactions. Many of them provide “Proof of Funds” and Transactional Financing. POF is required at the beginning of the deal and Transactional Financing is for the closing day only. Both methods are a necessary part of the investor arsenal when using creative financing.

Real Estate

Gentle Creek Golf Club – Live Where You Play

Gentle Creek – “For those who really enjoy golfing in a private and friendly environment …” This is the brand of the Gentle Creek Golf Club in Prosper and lives up to its motto.

The course

Designed by DA Weibring, this 7,300-yard, 18-hole course traverses 236 acres of varied landscape including manicured fairways, wooded edges, elevation variations, and water hazards provided by a 20-acre lake. It can be enjoyed by average and expert golfers alike, although beginners should take advantage of the white tees to get the most out of their game. There’s a reason Gentle Creek was voted 13th out of 1,100 fields in the state of Texas.

Gentle Creek is especially known for the 9th hole. It may only be a par 3, but you will remember shooting over the large pond, waterfall, and rock face to get to the green. There are eight sets of shirts for this one.

Another challenge of 3 faces you on the 15th hole. At 139 yards, you will fight for each of them. Start by shooting over a huge pond, but don’t go too far or you’ll end up in the sand bunker directly behind the green. Add to this a pecan-lined fairway that creates a kind of wind tunnel and makes club selection all the more important. Don’t worry, the green is larger than most and will allow some inaccuracy to the right or left.

The stately clubhouse features the Lakeside Grill restaurant with covered terrace, full-service pro shop, fitness center, men’s and women’s changing rooms, game room and steam room. Practice facilities include putting green, bunkered chipping green, and over an acre of grass practice tees.

Gentle Creek is a member course and offers different levels of membership:

Full membership: includes green fees, locker, shoe care, storage and cleaning of clubs, field balls and service for the disabled. Club facilities can be used by members, their spouse and children under 23, or full-time single students still living at home.

Corporate Membership – Same privileges as full membership for designated corporate employees.

Senior Membership: The same privileges as the Full Membership for people over 65, with some restricted departure times.

Non-Resident Membership – For those residing outside of a 100 mile radius of the club and any county that borders Collin County. They receive the same benefits as the Full Membership, but are limited to 4 tee times per month.

Gentle Creek Houses

Gentle Creek Estates – This golf community sits on 630 acres of scenic Prosper countryside. The grounds are a generous 1 acre or larger in size, with home styles ranging from courtyard style to custom properties that surround the field. Custom homes range in price from $ 300 to $ 1.5 million. In light of our current economic times, prices have dropped in Gentle Creek and there has never been a better time to buy a place.

Vistas of Gentle Creek offers homes priced from $ 229,900 to $ 369,900. Sizes range from 2,103 square feet to over 4,000 square feet, with 1- or 2-story floor plans. Standard features of many of the homes include granite countertops, brick front porch, security system, granite edge gas fireplace, ash, hand stained kitchen cabinets, granite foyer, tile kitchen flooring, utilities and restrooms, 13 SEER high efficiency air conditioning, mahogany entry door with beveled glass, crown molding in foyer, living room and dining room, wrought iron stair balusters, full lawn and sprinkler systems.

Quality builders at Gentle Creek include Alford Homes, Grand Homes, Perrin Homes, Darling Homes, and Dave R. Williams Homes. Be sure to contact them directly to find out about the builder promotions on offer. For example, Grand Homes is over $ 50,000 off select homes and includes a free pool in select homes.

A future phase is being planned along 18th fairway with many homes with beautiful views of the lake and golf course. Gentle Creek is managed by the Gentle Creek Homeowners Association which manages, maintains and social activities in the neighborhood.

The owners have the option of joining the golf club, as well as sharing a lap pool and service center.

Real Estate

Explanation of the dangers of condominiums

Condos have grown to become an important habitat for urban centers in North America. Considered a carefree lifestyle living alternative, they have become very popular, especially in the last 10 years or so. Single people, childless couples, and retirees seem to be particularly drawn to them, primarily because of the convenient comforts in and around them.

However, for many buyers and unit owners, condo ownership can be ambiguous and complicated. Since condos are not based on the same ownership structure as traditional (freehold) houses at street level, comparing condos to traditional houses is like comparing apples to oranges. Condo ownership is based on a two-level ownership system. One level belongs to the individual unit itself, and the second to the prorated and undivided interest of all the common elements in the condominium complex, including the land below the complex. Although the unit owner receives an individual deed to his unit, it is at all times contingent and subordinate to the master deed of the second-level property, represented by the common elements of the condominium complex. On the contrary, a traditional house, structured by its simple property title, grants its owner absolute and exclusive ownership of both the land and the house built on it.

The main distinction here is that the owner of the individual unit is not the absolute owner of the condominium property. Sharing a common roof and the rest of the condo complex with the other unit owners makes them an intrinsic part of the jointly owned commune. Therefore, the value and fate of any individual unit depends on all unit owners electing competent leaders (board members) to govern their condo complex diligently, and paying property tax on time. estate, monthly maintenance fee and special appraisal, as they expire. .

These are two vitally important prerequisites for any condo complex to be professionally managed and fiscally healthy to preserve the value of your units in the future.

One important thing to keep in mind is that the loss of property to the homeowner does not negatively affect any of his neighbors. In contrast, the loss of your unit by the condo owner automatically affects all of your neighbors, the other unit owners in the same condo complex, by increasing your financial obligations to maintain the entire complex. The more unit losses, the greater financial burden on the owners of the remaining units to maintain the complex.

Condominium complexes are comprised of unit owners with varying financial strengths. Some buy their units for cash and others with a hefty down payment. Many others can only afford to buy their units with very small down payments, facilitated through secured high-index mortgages, also known as Monster mortgages, mostly guaranteed by taxpayers. Economic policymakers, through quasi-government-formed insurance agencies like Fannie May, Freddy Mac, and CMHC in Canada, have been approving and encouraging such (subsidized) purchases to stimulate the economy for quite some time.

In times of a healthy economy and vibrant real estate markets, the condo scene, as long as it is not overvalued, can be a viable alternative to the traditional housing for which it was originally designed since its inception in 1965. Its volatility comes into play in times of excessively inflated prices, oversupply, unemployment and interest spikes.

As a general rule, owners of financially weaker units are the first to succumb during economic adversity. Its units are repossessed and sold for forced sales. If adverse conditions persist, over time, pressure on the remaining unit owners to shoulder the financial burden of maintaining the entire complex can start a ripple effect. More unit owners may succumb to financial pressures, especially when there are no buyers of new units available on the market.

To realize what can happen to condominiums in the extreme, one has to look at what happened to cooperatives or “Co-ops”, a concept very similar to condo-like ownership. The Great Depression of the 1930s caused dozens of cooperative owners, unable to cope with their financial problems, defaulted on their maintenance fees and common cooperative mortgages. That precipitated the catastrophic failure of large-scale cooperatives. Should the economy stagnate again, condominiums, many of them funded to the core, may end up suffering their demise just as cooperatives did some eighty years ago.

To avoid such terrifying scenarios, the public should be aware that buying a condo complex is not a worry-free property deal, as many believe. In fact, it is fraught with dangers. The popular assumption that buying a condo unit frees you from complex property concerns is totally wrong. The public needs a warning about condo ownership.

Government regulators and policy makers should keep in mind that condos are the most volatile of real estate products due to the financial diversity of their residents. Financially weak unit owners with little or no equity in their units should realize that defaulting on condo maintenance fees and mortgages will cause them to lose their units, resulting in financial liabilities that could haunt them for years. Politicians and regulators in charge must realize that in the next big market correction, the trade-off of stimulating the economy by inducing financially weak buyers to buy condos with little or no down payment can backfire, resulting in losses taxpayers pay the bill for defaulted policyholders. mortgages. Worse still, vacancies due to the aftermath of unit owners without equity capital could cause disastrous consequences for the remaining unit owners and their complexes.

To prevent such possibilities and ensure that condominiums remain a viable and sustainable form of housing, certain safeguards must be restored, one of which was previously used by financial institutions, for the benefit of the future of the condo industry.

A mandatory minimum down payment of at least 35%

Before government insurers stepped in to insure high-rate mortgages on condominium units, financial institutions insisted on a minimum 35% down payment. Knowing that condos were exceptionally risky, they would not provide mortgages for more than 65% of their unit value. Their risk was later minimized, in fact almost eliminated, once insured government agencies began providing them with guarantees in case of eventual defaults.

In doing so, a vehicle was formed whereby a traditional tenant with very little cash available could purchase a condo unit without depositing much of his own money (equity). This government-subsidized policy had induced dozens of traditional tenants, many of them turned speculators, to buy as many condos as possible in order to keep the housing sector as a strong contributor to the country’s economy.

The imperfection of such a socialist system was put to the test during the real estate collapse of the early 1990s, where, due to oversupply, the pool of legitimately available buyers dried up, causing a drastic reduction in unit values ​​of properties. condominiums and massive defaults. by owners of units without equity. The hardest hit were taxpayers, who paid banks billions of dollars for defaulted mortgages through government insurance agencies.

A second test of the imperfection of the system occurred in the United States in 2008, where again, housing prices, and particularly condominiums, experienced a devaluation of up to 50% in many major urban areas. Once again, it was the taxpayers who had to pay the bill for the defaulted mortgages.

It seems that not much was learned from such failures. A recent MarketWatch article titled “Opinion: Buying a Home Soon Will Be Easier, But Don’t” from October 24, 2014, quotes the FHFA Director as saying that Fannie Mae and Freddie Mac plan to guarantee some loans with such small payments. like 3%.

Given that most economists agree that we currently live in an economic bubble with over-inflated home prices, we must ask ourselves if we can afford to sit back and wait for the next market crash that would lead to another major condo devaluation. The next such accident could not only affect taxpayers, but also the number of homeowners who would lose their condo units. It is quite possible that condominium complexes that are left with many vacant units could end up in insolvency, eventually transforming into ordinary apartment buildings. The damage to the economy, indeed to the whole of society, could be very serious.

In order to preserve the condo industry and minimize the risk of taxpayer liability in the event of potential mass defaults, condos should be excluded from high-index secured mortgages. Condo buyers must again be required to make a down payment of at least 35% of their own money if they wish to purchase a condo. Since they no longer qualify for government-guaranteed insurance on their mortgages, and condos continue to be overpriced, banks may insist on even higher down payments. As scary as it sounds, this would actually lead us back to free market politics, on which our society was founded. Well-governed condo complexes, made up of unit owners able to afford their distinctive lifestyle, would be in a much better financial position, as their individual owners would deposit their own (substantial) equity in the units, leaving them in a much better position. to cope with future increased maintenance costs. Your individual and collective financial strength would ensure the preservation, even improvement, of your units and complexes for times to come.

Disqualifying condos for high-rate secured mortgages would not weaken the real estate industry. In fact, it would entice developers to build more affordable apartment buildings to house members of the public who cannot afford to buy real estate, and it would relieve taxpayers from paying high-ratio secured mortgages on delinquent condo units.

Real Estate

8 tips for remodeling your home kitchen

Many homeowners take advantage of kitchen remodeling to increase the value of their home and the pool of buyers.

Kitchen remodels often sell a home faster and at a higher price thanks to kitchen upgrades.

Homeowners who want to sell their home in the short term may first want to upgrade their kitchen. It is typically a 100% return remodel project, helping to increase the pool of interested home buyers and generally better able to compete in a tight housing market. Kitchen remodeling projects don’t have to cost big investment dollars. With smart planning, homeowners can get a return of $ 2-3 for every $ 1 invested. That means that remodeling a kitchen can actually make money. Not all investments in home remodeling have the same high return; however, kitchen remodels are one of the best places to start.

Flipping the TV quickly reveals the many options for today’s hot cooking shows. Homeowners are in love with the idea of ​​being culinary masters like never before. When budgets and location allow for high-end kitchen investments, upgrading to professional-style kitchens can capitalize on culinary craze. Investments in small and medium kitchens are almost certainly paying off. Expensive kitchen remodels can also generate more potential buyers and attractive profits when homes sell, if the right home designer and upgrades were done and marketed well.

Homeowners can create a whole new look with an updated kitchen remodel, transforming the room from closed to vibrant, functional and inviting:

* Add a custom island. Granite and quartz countertops are a home chef’s favorite. Create a suitable workspace and surfaces that are attractive, durable and popular.

* Install a backsplash with natural stone.

* Adding fun storage extends your kitchen and makes it that much more useful

* Use a fun new painting technique in your closet. New paint says “fresh and clean” in an instant and is one of the most cost-effective upgrades. Hiring a professional can make a difference by cutting edges and earning a “wear and tear” life. To sell faster, consider a neutral color like a light tan; think of coffee with cream.

* Change your cupboards. Add a glass front to display your favorite dishes. Try attaching a thin veneer to the surface of the cabinet, replacing the doors and adding new hardware for a finished, modern look.

* Install a new kitchen sink with a stylish faucet head. The sleek stainless steel resists scratches and is easy to maintain.

* Kitchen appliances upgraded to later models with energy saving features

* Hardwood or laminate floors

The period of time an owner must plan for the project will be determined by:

1) the scope of the project

2) have the correct materials ordered and on hand on time

3) Availability of your remodelers – It’s good to schedule your project with the flexibility to fit into your contractor’s schedule.

A kitchen remodel should reflect the style of the home. Be sure to hire a professional home designer when trying to go “modern” on a traditional or historic home. Homeowners can successfully increase home value when there is excellent flow, feel comfortable, functional, and maximize available space in a stylish way.

With a home designer, whether you pay them just for their design expertise or to do the entire job, the money will be well spent and homeowners will save money in the end.

Today, the kitchen can be used for many facets of home life. Such as: a family gathering place, a meal planning area, a project computer base, and center stage entertainment while entertaining friends and family.

Real Estate

Seek a cause? What you don’t know can cost you a lot

In the unique parlance of real estate, Procuring Cause, as defined by the National Association of Realtors, is “the uninterrupted series of causal events that lead to a successful transaction.” In simple terms, it is the means of determining who rightfully deserves a real estate commission for making a sale. What it means for the home buyer or seller is that an agent with little or no involvement in a transaction can claim a commission from the buyer, the seller, or both. For instance:

Comedian Jerry Seinfeld recently bought a $ 3.95 million townhouse in Manhattan. His real estate agent was not available to show him the house a second time due to his religious observance. Seinfeld then entered the transaction only thinking of saving the $ 100,000 commission. He was later successfully sued because the agent had proven Procuratorate by first showing him the property and because Seinfeld had entered into an exclusive buyer representation agreement. Not understanding the dynamics of Procuring Cause had cost Seinfeld a hundred thousand dollars.

The Seinfeld case was relatively straightforward. The agent had shown him the property and he had the exclusive right to sell the Seinfeld contract. However, commission claims can be based on much rarer grounds. In fact, any demonstrable contact with an agent can, theoretically, provide a basis for a cause. This is why agents seem so eager to get a potential customer to sign up, either online or in person. If that agent provides information about a property that the prospect eventually buys, the agent could view his efforts as the beginning of “the unbroken series of causal events that lead to a successful transaction.” Unfortunately, this happens occasionally.

Additionally, some agents present exclusive purchase agreements similar to the one Seinfeld signed with little or no understanding from the buyer of exactly what they are agreeing to.

This all sounds like real estate agents are trying to trick buyers and sellers into paying large sums of money that they did not work to earn. This is seldom true. Procuring Cause is a definition belonging to the Code of Ethics for Real Estate Agents designed to protect agents against theft of their commissions. It works like this:

An agent establishes an open and honest working relationship with a prospective buyer, shows him properties, often for months or even years, works with him on his financing, negotiates the sale, and then the buyer cancels it (as Seinfeld tried to do) or the seller or other agent who arrives at the last minute to write the contract. In the latter case, this often happens not because buyers are unhappy with their agent, but because they have a friend or family member who has a real estate license, often part-time or inactive *, whom they want to favor by giving them the commission. even though this agent had nothing to do with the process.

This is where the local estate agents association steps in to see that justice is served. Both sides of the issue are brought before a grievance board and the true cause of acquisition is determined. In the above case, it is clear that the agent who intervened at the last minute had no right to expect a commission. However, what if this Johnny-Come-Latest agent who wrote the contract had an exclusive buyer agreement? In this case, the commission usually goes to the agent who has not only the signed contract but the exclusive written agreement.

Now this is where it gets difficult and can cost a lot of money for both the buyer and the seller. An agent who does not reach an agreement because he was not informed or misinformed of the real situation can sue in a civil court of law. Certainly no one needs these kinds of hassles and expenses, especially during a move, which often pushes resources to the limit.

Here are some ways to avoid tangles with Procuring Cause:

  • Do not sign anything except mandatory agency disclosure documents that are designed to tell you where the agent’s loyalties lie and nothing else. If you choose to enter into an exclusive buyer agreement, keep in mind that even if you buy through another agent or directly from an owner or builder, you will likely be required to pay a commission to the agent who hired you.
  • Please do not provide contact information, as this may invite further marketing efforts. Be aware that even casual contact with an agent who provides information about a property can be grounds for claiming a commission. If you are asked to sign up for an open house, give your name and no more.
  • Decide on an agent to work with and work with that agent exclusively, whether or not you have a contractual agreement. If you decide to change agents for any reason, formally end your relationship with your former agent. Keep a record of the termination, such as a signed and acknowledged letter. Do not contact the former agent after your relationship ends.
  • If you receive information from the list or are contacted by an agent you are not working with, ask them to stop submitting information and remove your name from their contact list.

That is all. The vast majority of real estate agents and brokers are scrupulously honest. They deserve to be compensated for their efforts as any professional would. But this only happens when they make a transaction and receive a commission. This is their way of life. A few moments of communication beforehand about your intentions as a buyer or seller often avoid misunderstandings later. Tell them what you want. Ask them to explain their obligations to you. Know who works for whom. And learn how the transaction agents will be compensated.

Contracts and other legally binding documents are often misinterpreted. That is why an experienced real estate attorney is essential to your well-being. And while they are typically brought in to review the contract, prepare the documents, and oversee the closing, they also need to be brought in before the exclusive buyer contracts or listing agreements are signed. The cost of this can usually be added to the fee for your services for the closing. The price for not doing so can be overwhelming.

Overall, there is nothing to fear and everything to gain when working with a real estate professional. Article 1 of the Code of Ethics for Real Estate Agents details it:

“By representing a buyer, seller, landlord, tenant or other client as an agent, real estate agents are committed to protecting and promoting the interests of their client. This obligation to the client is paramount, but does not exempt real estate agents from Your Obligation to Treat All Parties Honestly. When serving a buyer, seller, landlord, tenant, or other party in a non-agency capacity, real estate agents remain obligated to treat all parties honestly. ” Click to view the full Realtor Code of Ethics

Agents found guilty of code violations will have their status as real estate agent suspended or revoked.

Homeownership is not only the American dream, but also the source of wealth for most Americans. An open, honest approach and a little common sense go a long way to a successful transaction by preventing problems before they happen.

* Everyone knows a real estate agent. And this agent is most likely not making a living selling real estate – 10% of licensed agents make 90% of sales. The rest fight for the leftovers. Do not get involved with one of them, even if it is a relative. Always work with the best professionals, whether they are brokers or associate brokers. Statistically, one is more likely to end up in court for a real estate matter than for any other matter. You don’t need to be one of them.

Real Estate

Start a wedding photography business

Building a successful wedding photography business can be a bigger challenge than you might think. Just because you can take a photo doesn’t mean that starting your own wedding photography business is easy. However, there are certain building blocks one can take that will help you create a successful start in your wedding photography business. The first and most important building block is building an efficient and comprehensive business / creative plan. This is the foundation and should include your goals, your mission, and the keys to success.

Your foundation goals will cover what it takes to produce the same exceptional quality results over and over again, and what it takes to be recognized as a premier wedding photographer. Your mission should describe what you want to achieve and how you are going to do it. Your keys to success should include how you will meet your customer’s expectations and how you will achieve it. How will you be competitive with the services you offer? What kind of earnings do you need to become a successful competition?

Before starting, the first step is to find your identity. Have you figured it out? Be true to yourself and know your strengths and weaknesses as a photographer. Are you ready to start this financially and technically? Do you know your style and identity, and do you do it well? You must know how to describe your photography and your vision. Are you more of a photo journalistic photographer who relies on available natural light and spontaneous moments? Do you plan ahead and pose portraits and incorporate technical lighting skills to give a classic look? Or do you mix it up with both, displaying a full range of capabilities that give it its own modern and contemporary style?

If you know what you want your photography and identity to look like, but have not yet achieved the look, you may need more work on your photography before you can establish your business.

Take a look at your photography and decide what level of talent you have and what potential you have. Be critical of your work, but also have others criticize it for you. Learn to use constructive criticism to improve your photography. If your identity is not where you want it, ask yourself, what needs improvement? Do you know your equipment (camera, lighting, etc.) well enough? Can you read and measure your exposures? Do you have the right equipment, that is, a high resolution digital camera and Photoshop? You need a digital camera to keep up with your competition. Mastering Photoshop and Lightroom and their digital workflow is also of great importance. It is up to you to overcome any weaknesses with proper education and practice before taking wedding photographs.

Photographing a wedding is a great responsibility. Someone has paid a great deal of money and trusted you to document this special and personal day. This is why it is so important to be confident enough to participate in any wedding that comes your way and to do a good job photographing it. Having your skills honed is only part of what it takes to build that foundation of confidence. The other big part of building trust is experience.

We all start somewhere. So once you’ve mastered your photography skills and workflow, now is the time to prove yourself and your identity. The first step is to know its value. Do you think you are ready to film a wedding solo for $ 2000.00? Wait, you don’t have wedding photos for a portfolio. How are you going to sell yourself as a wedding photographer? Well, or you are lucky with someone who you trust and likes your photography even though you have never photographed a wedding. Or you decide to build your portfolio by being a second or third shooter for a more established wedding photographer. This is a great way to gain exposure and experience in the wedding photography scene. A great way to tackle this route is to call all the local wedding photographers in your area and ask if anyone needs a second or third shooter. Once you find work, ask questions and pay close attention to how they run their business and how they photograph weddings. Everybody has a system. How they film the wedding ceremony, portraits, reception, etc. Use this position to your advantage and build relationships within the wedding industry. The more you learn, the faster you will be on your way to becoming proficient. Remember to save money for when you transition on your own.

Once you have a few weddings under your belt, your confidence will lead you at the right time to part ways and become that competition you’ve been working for. When you choose, it should be all or nothing. Either stay second shooter or take the risk and become a competitor.

Having made the leap into the unknown and exciting world of being your own boss. His confidence as a photographer has grown and he now possesses an identity as a wedding photographer. Now you can start your wedding photography business wherever and whenever.

Hopefully you’ve invested in your own digital camera, backup camera, lenses, computer, Photoshop, etc. Your investment needs to have insurance. It cannot be allowed to be stolen or broken; otherwise, all your hard work will be wasted. You must also have CYA liability insurance. You can get photographer insurance through PPA.

Before positioning yourself as a competitor in the wedding photography market, you must know your competition. They are your best models to help you get started. Take note of what they charge for the packages and what they include with their services. Where and how are they advertised? What niche do they occupy and where can you fit in as a new business?

To establish your business you need an address. You can choose a PO box or other mailbox service, such as mailboxes, etc. I prefer MBE because you can choose a mailbox with a real postal address. Not to mention that they have many other services. Next, get a different phone number for your business. To legitimately create your business, you must have a Limited Liability Company (LLC) or sole proprietorship. You can get information about this from an accountant or on websites like legalzoom.

With the rest of the money you have saved, you will need to determine how much will be used for marketing and other expenses. Marketing will be the most essential thing to get your business off the ground. Without marketing you have no business. Your essential elements of marketing are: having your identity, your portfolio and your line of communication.

Through the library of images you have created, choose your best images to use for your portfolio, website, and all promotional and marketing materials. Your portfolio can be made with inkjet prints that you place in an album of your choice, such as the albums provided by Topflight, the photo album store, or you can choose to have one of Asuka’s albums or other labs printed. online printing like Snapfish or Shutterfly. Your image identity is now established and will grow over time. However, now you need your business identity. What will your promotional materials be like? What type of font will you use? What colors will be incorporated? Will you use a logo? It may be a good idea to find a graphic designer to help you with this. Once you discover your business identity and incorporate it into your promotional materials, you must create and print them all at once for distribution throughout the year. Make sure you have the basics like business cards, postcards, brochures, contracts, 8×10, and any other promotional materials you can think of. These materials can be ordered through and

Once you have finished your promotional material and the portfolio has been printed, you are ready to create your website. See other sites to get an idea of ​​the site style you want and what it will look like. Find someone else to create a website for you if you are not trained in web development, but having a professional do it can be a bit expensive. Some great alternatives are to use Craigslist or find a student at a local college to do so. Make sure to work with your web developer on creating your SEO (search engine optimization) for the site. This is the most important and is the best way to ensure that you can create a search engine optimized web presence. DIY website template doesn’t do well for SEO. SEO will focus on key copywriting, alt tags, one-way links, and proper site submissions.

You now have a business ready to start seeing some return. People are ready to see your business and it is your job to search and find them. It is your job to know your market and take advantage of it with your presence. I suggest getting a creative ad on Craigslist is a priority. Why is it not free? Now that you have all of your promotional materials in print, where will you distribute them? Research all businesses in the wedding industry on a local, state, or national level and create a directory of them for your advertising. Create your promotional packages with a cover letter, brochure, postcards and a mini portfolio or something that shows your style in more depth. This is a lot of work and can take a while. Get help from friends, family, or repost on Craigslist for temporary help. After you’ve mailed everything, follow up with phone calls to let them know who you are. This will help provide a personal connection to your materials and help start future relationships. Building relationships is very important, and it will help transform the work into word of mouth. Another great way to build relationships and exercise is to participate in the wedding shows held in your area.

Knowing your business and what you offer to your customers and the industry is the most important thing. Just as it is important to know your own identity as a person, it is also important to know your business identity. When the phone starts ringing, people want to see confidence in you and your images. Just remember that images speak louder than words and that cream always rises to the top.

Good luck!

Real Estate

Real Estate Agent Lesson Of Passion In Grunwald

Real Estate Agent Lesson

One of my favorite Real Estate agents in Brooklyn, NY is Mark Grunwald. For years, he has provided attentive, ethical representation for clients seeking to purchase or invest in distressed or abandoned properties. A true professional who loves real estate, Mark grills his clients with the up-to-date facts regarding the property market and current trends. He is a gifted property manager with a love of all things New York City and is devoted to serving his clients with the personal touch that only a real estate agent can provide.

Immobilienmakler Grünwald

Recently, I had the opportunity to work with Mark Grunwald in the sale of a distressed property. We were fortunate to work with an attorney who was enthusiastic about helping us get a good deal on the property. We were also fortunate to find a realtor who was committed to finding a buyer for our property. Both of these men made invaluable contacts for our agency. In this Real Estate lesson we will learn the common mistakes real estate agents make and the steps needed to avoid them.

The lesson in this example of Passion of Chula Vista real estate is to always ask for referrals when working with new clients. Attorneys who have vast real estate experience and successful real estate careers almost always know someone who can refer credible and reputable realtors. If you are new to real estate, especially if you’re a first time home buyer, it is very easy to get in the “dog house.” Real estate agents know that when a realtor is not seeking referrals, they are not doing their job.

Real Estate Agent Lesson Of Passion In Grunwald

Another common real estate agent lesson is to avoid working with brokers or agents who do not represent the interests of the buyer. I spoke recently with an agent who represented two very different types of buyers: one who was from the southwest part of the state and another who was from the coastal part of the state. The buyer from the southwest part of the state wanted a low down payment, preferably less than 20% of the total selling price, a fixer upper property with excellent condition, free of liens, and a lot of “brainer” features. The buyer from the coastal area wanted a low down payment and a property with good condition, plenty of curb appeal, free of liens, a low interest rate, as well as several “brainer” features.

The realtor representing the coastal customer wanted the exact opposite of the first client! The client wanted a high down payment, free home improvement, low interest rates, no liens, plenty of curb appeal, and a lower price. The realtor was unable to provide the requested features to the coastal client. The lesson here? Be flexible and willing to walk away if you are not getting the result you desire.

One last example relates to the frustration experienced by many realtors when they do not get as much work done as they would like. The real estate agent has an amazing vision for the entire project, the home, the sellers, the Realtor, the buyer, etc., and he/she does not want to compromise that vision. So the agent gives it all – including the people who will actually be living in the home! It’s a difficult situation for all involved, but also it can be avoided if the realtor has some flexibility as it relates to the real estate agent’s schedule. In other words, ask about rotations and early-bird specials if you are not getting your way on any particular issue.

Real Estate

FASB Proposed Lease Accounting Changes – Impacts on Commercial Real Estate


The Financial Accounting Standards Board (FASB) on August 17, 2010 published its “exposure draft” that requires companies to record nearly all leases on their balance sheets as a “right of use” asset and a “payment. future lease – corresponding liability “. . What does this mean for your business in simple terms? In essence, this proposal eliminates operating leases; all leases (unless intangible) would be capitalized using the present value of the minimum lease payments. Therefore, companies that in the past had off-balance sheet lease obligations must now record these obligations on their balance sheet.

A key point to consider regarding the proposed changes to lease accounting is that, in all likelihood, existing operating leases, signed prior to the implementation of the new rules, will require reclassification as capital leases that need to be accounted for on the balance sheet. . This means that real estate professionals should immediately consider the effect that existing and planned leases will have on the financial statements once the proposed rules are implemented. Because operating lease obligations can represent a greater liability than all balance sheet assets combined, reclassifying the lease can significantly alter the company’s balance sheet.

The impact of recording these lease obligations on the balance sheet can have multiple impacts, such as: companies needing to alert their lenders as they will now default on their loan agreements, negotiate new loan agreements with lenders due to the upgrade financial financial statements, the ratios used to assess the credit potential of a business will be adversely affected and the restatement of a lessee’s financial status once the change takes effect may result in a lower principal balance and changes in various accounting ratios

The conceptual basis for lease accounting would change from determining when “substantially all the benefits and risks of the property” have been transferred, to recognizing the “right of use” as an asset and contributing assets (and obligations) between the lessee and the tenant. lessor.

As part of the FASB’s announcement, the Board stated that, in its opinion, “current accounting in this area does not clearly describe the resources and obligations that arise from lease transactions.” This suggests that the bottom line will likely require more leasing activity to be reflected on the balance sheet than it currently is. In other words, many, perhaps virtually all, leases that are now considered operating will likely be considered equity under the new rules. Therefore, many companies with large portfolios of operating leases are likely to see a material change in their corporate financial statements.

Part of the purpose of this is to coordinate lease accounting standards with the International Accounting Standards Board (IASB), which sets accounting standards for Europe and many other countries. IASB and FASB currently have substantial differences in their treatment of leases; It is particularly notable that the “bright line” tests of FAS 13 (if the lease term is 75% or more of the economic life, and if the present value of the rentals is 90% or more of the fair value) does not they are used by the IASB, which prefers a “facts and circumstances” approach that involves more judgment. Both, however, have the concept of capital (or finance) and operating leases, however, the dividing line is drawn between such leases.

The FASB will accept public comment on this proposed change until December 15, 2010. If the FASB makes a final decision in 2011 regarding this proposed change to lease accounting, the new rules will take effect in 2013.

Additionally, Securities and Exchange Commission staff reported in a report ordered by Sarbanes-Oxley, that the amount of operating leases held off balance sheet is estimated at $ 1.25 trillion that would be transferred to corporate balance sheets if this were to happen. proposed. the accounting change is adopted.

Commercial real estate:

The impact on the commercial real estate market would be substantial and will have a significant impact on commercial tenants and landlords. David Nebiker, Managing Partner at ProTenant (a commercial real estate firm focused on helping Denver and regional companies strategize, develop and implement comprehensive long-term facilities solutions) added “This proposed change doesn’t just affect tenants. and landlords, but intermediaries, as it increases the complexity of leases and provides a strong impetus for tenants to execute short-term leases. “

Short-term leases create financing problems for homeowners, as lenders and investors prefer longer-term leases to secure their investment. Therefore, homeowners must obtain purchase or refinance financing prior to the implementation of this regulation, as financing will be considerably more difficult in the future.

This accounting change will increase the administrative burden on businesses and the rental premium for single-tenant buildings will be effectively eliminated. John McAslan, a ProTenant associate, added that “the impact of this proposed change will have a significant impact on leasing behavior. Landlords of single-tenant buildings will wonder why not just own the building, if I have to register it. in my financial statements anyway. ” “

Under the proposed rules, tenants would have to capitalize the present value of virtually all “probable” lease obligations on corporate balance sheets. The FASB views leasing essentially as a form of financing in which the lessor allows a tenant to use a capital asset, in exchange for a lease payment that includes principal and interest, similar to a mortgage.

David Nebiker said that “regulators have not understood why most companies rent and that is for flexibility as their workforce expands and contracts, as location needs change, and companies prefer to invest their cash in producing an increase in income, rather than owning real estate. “

The proposed accounting changes will also affect owners, especially companies that are publicly traded or have public debt with audited financial statements. The owners of shopping centers and trusts should perform an analysis for each tenant located in their buildings or shopping centers, analyzing the terms of occupancy and contingent lease rates.

Proactive landlords, renters, and brokers should familiarize themselves with the proposed standards that could take effect in 2013 and begin negotiating leases accordingly.


The end result of this proposed change in lease accounting is an increased compliance burden on the lessee, as all leases will have a tax-deferred component, be included on the balance sheet, require periodic reassessment, and may require disclosure. more detailed financial statement.

Therefore, lessors need to know how to structure and sell transactions that will be desirable to tenants in the future. Many tenants will find that the new rules eliminate the off-balance sheet benefits that FASB 13 gave them in the past and will determine that leasing is a less beneficial option. They may also find the new standards more cumbersome and complicated to explain and disseminate. Ultimately, it will become a challenge for every commercial real estate landlord and broker to find a new approach to marketing commercial real estate leases that makes them more attractive than homeownership.

However, this proposed accounting change to FAS 13 could potentially stimulate a lack of shine in the commercial real estate market in 2011 and 2012, as companies decided to buy properties rather than deal with leasing administrative issues in 2013 and beyond. there.

In conclusion, it is recommended that homeowners and tenants begin to prepare for this change by reviewing their lease agreements with their commercial real estate broker and discussing the financial ramifications with their CFO, outside accountant, and tax accountant to avoid potential if / when financial surprises. accounting changes. are adopted.

Both David Nebiker and John McAslan of ProTenant indicated that their entire corporate team is proactively educating and advising their clients on these potential changes.

Annex – Definition of operating and capital leases:

The basic concept of lease accounting is that some leases are simply rentals, while others are actually purchases. For example, if a business rents office space for a year, the space is worth almost as much at the end of the year as it was when the lease began; the business is simply using it for a short period of time, and this is an example of an operating lease.

However, if a business leases a computer for five years, and at the end of the lease, the computer is almost useless. The lessor (the company that receives the lease payments) anticipates this and charges the lessee (the company that uses the asset) a lease payment that will recover all the costs of the lease, including a profit. This transaction is called a capital lease, however, it is essentially a purchase with a loan, since said asset and liability must be recorded in the financial statements of the lessee. Essentially, principal lease payments are considered loan repayments; Depreciation and interest expenses, instead of leasing expenses, are recorded in the income statement.

Operating leases do not normally affect a company’s balance sheet. There is, however, an exception. If a lease has scheduled changes in the lease payment (for example, a planned increase for inflation or a lease holiday during the first six months), the lease expense will be recognized on an equal basis over the life of the lease. The difference between the recognized lease expense and the lease actually paid is considered a deferred liability (for the lessee, if the leases increase) or asset (if they decrease).

Whether capital or operating, future minimum lease commitments should also be disclosed as a footnote in the financial statements. The lease commitment must be broken down by year for the first five years, and then all remaining rentals are combined.

A lease is capital if any of the following four tests are met:

1) The lease transfers ownership to the lessee at the end of the lease term;

2) The lessee has the option to purchase the asset at a bargain price at the end of the lease term.

3) The lease term is 75% or more of the asset’s economic life.

4) The present value of the rents, using the incremental indebtedness rate of the lessee, is 90% or more of the fair market value of the asset.

Each of these criteria, and their components, are described in more detail in FAS 13 (coded as section L10 of the FASB Current Text or ASC 840 of the Codification).

Real Estate

Small claims case in Texas

Connie from Dallas became a member of the Collect Back Rent team in January. Connie was a retired teacher who owns 9 rental units. She made a tenant move out of her rent due to 2 months rent and $ 2,000 damages. Connie had heard the bad luck stories and moved out without warning.

Connie had received $ 1,000 per security deposit, so her first step is to submit an itemized statement of where the security deposit was dispersed. The itemized statement of the security deposit ($ 1,000) that you sent to the tenant deducted the $ 1,000 of damages leaving a balance of $ 1,000 of damages. Included in the security deposit letter was a Notice of Lawsuit for $ 3,000 (remaining rent and damages). Connie sent the itemized statement and notice of claim by certified mail with return receipt requested.

After 30 days, the former tenant did not respond, so Connie filed a small claims case for $ 3,000 ($ 2,000 rent, $ 1,000 damages plus court costs). I suggested to Connie that she use a licensed process server to serve the court documents. During this time, the defendant had retained a lawyer. Small claims documents must be served on the defendant and the defendant’s attorney.

Note: Connie had never been in a courtroom, much less in front of the judge. I had several tutoring calls to prepare her for the court hearing, Connie had the “Moving Checklist” showing the judge what the rental place was like when the defendant moved out. He had his state approved lease, letter of security deposit, notice of demand, proof of service, photographs, and receipts for damages to present. My suggestion was to show one maybe two photographs of each of the damages, I received when the carpet that she replaced was purchased. Another tip is to bring a witness to the court hearing when you sue for damages. It can be the property manager, maintenance staff, or business partner.

Court Day: He presented his case in front of the judge and the defendant’s attorney to perfection. The defendant’s attorney reached a settlement of $ 2,700 on the alleged amount of $ 3,000; Connie was quick to accept it. She could not believe it.

You have already been paid and you have gained a mountain of knowledge with confidence. He walked into the courtroom and hit a lawyer! Success story of an owner who sought training and is developing the old profession of owner!