I own a bunch of garages.I would like to demolish them and build a 3 story house.This requires blueprints from an architect and other crap,in order for the city to ok the building.What bank and how will this process work,without me spending a dime out of my pocket.My credit is good and this will be my first home.What loan will accomplish all this without closing costs because ther is no physical building established yet.The garages are classified as commercial property and built in 1910.I tried to use whatever possible equity against the garages and I was told commercial property like this will not allow that.

It’s bull you can get equity my friend the method i am going to tell you about is a little pricey but in a couple of days you will begin to execute what it is that you are trying to do. What you are looking for is a hard money loan or a bridge loan these loans are especially for what you are trying to do . They are just a little pricier, once you find out the details of these loans you will know what to ask for when shopping around and if you still don’t get it just email me back!as far as zoning you may be able to get a variance on the zone this is a process all by itself if I were in your shoes I would get the fight with the zoning board out of the way first!

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Judging Building Surveyors – Part 2 – Effect of MIG Textiles Decision (VCAT 2005)

FACTS – MIG owned a block of land in Carlton. It was to be developed into 4 x 3-storey townhouses. The respondent architect, Myer, obtained a town planning permit for the development and prepared working drawings. The original town planning permit assumed the retention of existing retaining walls. The owner received engineering advice to the effect that the walls would need to be demolished. During the course of demolition, the local council intervened to stop work on the project because the degree of demolition was greater than that permitted by the town planning permit. MIG had to pay damages to the builder and sustained economic loss itself. MIG sued to recover those losses from Myer, alleging that it was the fault of the architect that the work was stopped and the delay occurred.

The building surveyor who had issued the building permit approving extensive demolition of walls contrary to the original town planning permit was not sued.

Senior Member Walker, an experienced VCAT officer, found in favour of the defendant architect and dismissed MIG’s claim. Senior Member Walker noted that the building surveyor had issued a permit for demolition for work without first satisfying himself of the existence of a planning permit which would have allowed the demolition. Evidence called by the developer that in fact the building surveyor had acted reasonably was rejected by VCAT. VCAT also rejected evidence from another consultant building surveyor to the effect that the project building surveyor could have delegated his responsibilities to Council by sending in plans for Council to determine whether the planning permit covered the removal, demolition and replacement of walls. Senior Member Walker decided that the project building surveyor had a responsibility under the Building Act 1993 to satisfy himself/herself that there was a relevant planning permit in existence. The final responsibility was personal and non-delegatable. However, MIG made the fatal error of not having sued the building surveyor as well as the architect.

The reason why the claim against the architect failed was that VCAT was satisfied that the architect had no contractual responsibility to determine whether the planning permit would allow demolition which only arose after the planning permit had been issued. VCAT noted that MIG had effectively taken responsibility for splitting responsibility between Myer to obtain the planning permit and others to obtain the building permit. VCAT noted, somewhat caustically, that the small amount of money saved by the developer ended up being insignificant by comparison to the damages ultimately sustained.

Effect of Taitapanui Decision (VSCA 2006) and (HCA 2006)

FACTS – Mr. & Mrs. Taitapanui purchased a house in 1999 at Torquay. The house was originally built by owner/builders, Mr. & Mrs. Watson in 1996. Watson had his own construction company, Watson Construction Pty Ltd. When the house had been originally constructed, Wally Mellis, employed by the Mooroobool Shire Council’s Building Department, had been project surveyor. The Taitapanuis subsequently sustained loss and damage being pure economic loss when part of the foundations of the house collapsed. The Taitapanuis sued the original owner/builder (Watson Construction) and Mooroolbool Shire Council as Mr. Mellis’ employer. Before VCAT, the Taitapanuis were successful both against the building surveyor/local Council and original owner/builder. Both appealed to the trial division of the Supreme Court. The appeal was dismissed in 2004. The Municipal building surveyor/Council again appealed to the Victorian Supreme Court of Appeal. Again, the appeal was dismissed.

The question before the Court of Appeal was whether the building surveyor owed any duty of care to the Taitapanuis .

The building permit was issued by Mellis in August 1996. Construction commenced later that year. Mellis issued a certificate of occupancy in January 1997. In July 1997, the Watson’s sold the property to a Mr. & Mrs. Pozman. Early in 1999, the Pozmans further sold the property to Mr. & Mrs. Taitapanui. Defects only became apparent once the Taitapanuis were owners. Engineers and consultant builders retained by the Taitapanui’s identified a number of serious structural deficiencies in the footings.

VCAT decided that the surveyor had been in substantial default by issuing the permit. Contrary to regulations, no specifications had been provided describing the materials and methods to be used and the plans did not identify the particular wall material. VCAT described the surveyor’s conduct as to mounting to gross carelessness and incompetence. The Trial Division of the Supreme Court criticized the building plans, calling them as though they had been done by a thumbnail dipped in tar. The Supreme Court noted that there were many construction defects which should have been picked up by the surveyor in the course of his inspection – in particular, sub floor defects in the bearers and joists, defects in the roof framing, clear shortcomings in the flashings, and a failure to provide the correct safety glass for certain window and door panels.

VCAT concluded that the house was so compromised that it needed to be demolished and rebuilt.

The Court of Appeal noted that the Taitapanuis did not themselves rely upon anything that the surveyor or his employer, the Shire Council, said or did when they purchased the property from the Pozmans.

The Court of Appeal thoroughly analysed the Building Act 1996. The Court noted the critically important role of the surveyor relating to the approval of future construction work and building inspectors to regulate buildings which are under construction. The Court of Appeal noted that the role of the surveyor in respect of building work was not limited to that of issuing building permits. There is a duty to make mandatory inspections, and a power to conduct other inspections. The Court noted that a surveyor had broad authority when conducting an inspection. For instance, the occupancy permit should not be granted unless the building to which it applies is fit for occupancy.

The Court of Appeal concluded that Mr. Mellis, as building surveyor, owed a duty of care to not only the current owner/builder of a property but also to future owners. The Court of Appeal was influenced in this finding by the surveyor’s gross failure of reasonable care when performing the statutory functions of issuing a building permit. The Court of Appeal stressed the important role which a surveyor performs, particularly to prospective purchasers of property who will conduct searches of documents such as the Section 32 statement attached to contracts of the sale of land.

The Court of Appeal framed the relevant duty of care owed by a building surveyor as a duty to exercise reasonable care in granting a building permit in respect of building work the subject of an application for the permit. The Court of Appeal warned surveyors that this duty applied equally to future purchasers who, in many respects, were in more vulnerable positions than the original building owner. The Court concluded that the surveyor must have been aware of the risk of economic harm being suffered by a later purchaser in the event that the surveyor neglected his statutory obligations.

The Court of Appeal also remarked on whether or not the Taitapanuis could have been said to consciously rely upon anything actually done by the surveyor as being causative of their loss. In many respects, the Taitapanuis (who may not have even been aware of Mr. Mellis’ original involvement) might have found the requirement of reliance difficult. The Court side-stepped this defence by holding that the Taitapanuis established reliance in the sense of having inspected the Section 32 certificate under the Sale of Land Act which included the building permit granted by Mr. Mellis.

In many respects, Taitapanui is an extension of the High Court Authority in Bryan v. Maloney (1995) to building surveyors. It seems settled law in Australia that a wide variety of building practitioners such as architects, engineers, draftspersons, builders and surveyors, owe a duty of care to subsequent owners of the house to avoid mistakes leading to future pure economic loss. These decisions may depend upon whether these building practitioners owed duties of care to first owners to avoid pure economic loss. However, having regard to the essential role played by surveyors in the building process, that salient feature is inevitably likely to be satisfied.

The High Court refused special leave to appeal to the surveyor/Shire Council. The High Court was satisfied that the Court of Appeal’s application of the law to the facts was correct.

Michael Pickering – LAC Lawyers
http://www.articlesbase.com/law-articles/building-construction-building-surveyors-victoria-116698.html

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INCOME PROPERTY UNDERWRITING MANUAL Only $199

Right now Wall Street is buying more commercial mortgage-backed securities than at any time in history. As a result, there are loan agents out there today who are making over a half-million dollars a year brokering commercial loans to conduits. If you don’t know how to broker commercial deals, you are missing out on one of the biggest financial gold rushes of your lifetime.

For only $199 you can now buy an easy-to-read guide that will teach you everything you need to know about underwriting and brokering commercial mortgage loans. This is not some boring text book about the capitalization of commercial property cash flow streams. Boring! This is a training manual designed to get a residential loan agent up to speed arranging commercial loans in just one afternoon. In fact, that’s exactly how this manual got started, as a training manual for our own commercial mortgage loan officers.

Need to prepare a pro forma operating statement? I tell you exactly where to get every number on every line; even when you don’t have enough information and you just have to wing it. Don’t know the fire insurance premium? Try using $4.50 for every thousand dollars of insurance – but only insure 70% of the property’s estimated value. Laundry income? Use $11.50 per unit per month. Do you see how detailed, helpful and down-to-earth this manual is? No fluff. No theory. Just step-by-step instructions that even a dummy like me could follow.

You will also learn debt service coverage ratios, operating expense ratios, on-site and off-site management factors, reserves for replacement, capitalization rates (cap rates), vacancy factors, collection loss reserves and loan constants. You will learn about forward takeout commitments, standby commitments and bow-ties. You will learn how to underwrite construction loans, including the difference between loan-to-value ratios and loan-to-cost ratios, developer’s profit analysis, contingency reserves, interest reserves, and general contractor’s overhead and profit factors. You’ll learn the difference between gross leases and full service leases and industrial gross leases and net leases and net-net leases and triple-net leases. You’ll learn the difference between scheduled rents and effective rents. And exactly how do you prepare a pro forma operating statement when the building is 27% vacant? Inside you’ll learn.

I will also teach you how to look at a commercial deal and determine immediately to what type of lender you should take the loan. Got a successful business owner with a large average daily balance in his corporate checking account. Take the loan to a bank. Got a kinky property with great, verifiable income (i.e., great tax returns)? Go to a finance company. Got a standard piece of real estate with good leases and occupancy but the owner’s net worth is light? Take it to a savings bank. I explain why in plain, everyday English. Sounds like a lot to learn, huh? Nonsense. You can read my manual from cover to cover in just 90 minutes. When you’re done, you will know everything you need to successfully broker commercial loans. What a feeling – to finally master commercial mortgage underwriting. You’ll run circles around your realtors. Your confidence will soar!

So will your income. Just one point on a $2.6 million loan is $26,000. And did you know that packaging a commercial mortgage loan is far easier than doing a Fannie/Freddie residential deal? Using our commercial lender databank and this training manual, you can now make huge commissions off of commercial leads you were previously throwing away.

All this for $199.00 to order a copy of this wonderful Income Property Underwriting Manual, simply e-mail to us your name, company, address and telephone number. Please also include your Visa, MasterCard or American Express credit card information. We will need to know whether the card is a Visa or a MasterCard, the name on the account, the account number and the expiration date.

You can also order by phone by calling Alicia Gandy at 916-338-3232, or you can fax your order to Alicia at 916-3382328.
This manual comes with a money back satisfaction guarantee. If you are not completely satisfied that this manual is a fun, easy-reading guide to everything you need to know about commercial mortgage underwriting, just call us and we will happily refund your money.

Conduits are making billions of dollars in commercial mortgage loan this year. Some commercial loan agents are making over a half-million dollars annually bringing them loans. Stop throwing those commercial leads away! Turn them into big commissions instead. This decision is a no-brainer. You are going to learn a whole new profession for a lousy $199.

Be sure to also see our Combo Package Offer that includes our Income Property Underwriting Manual, our Commercial Mortgage Marketing Manual, and our Loan Broker Fee Agreement – all for just $249. For just $249 you will possess every tool you will need to open a very competent commercial mortgage division. Click here for details on our Combo Package by http://www.pro-bargainhunter.com.

Pro Bargain Hunter
http://www.articlesbase.com/mortgage-articles/learn-to-underwrite-commercial-mortgage-loans-only-199-674629.html

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Mortgage Glossary

Adjustable Rate Mortgage – A mortgage in which the interest rate and payment changes periodically over the life of the loan based on changes in a specified index. The changes are usually subject to a cap.

Amortization – The payment of a mortgage loan through monthly installments of principal and interest. The monthly payment amount is based on a schedule that will allow you to own your home at the end of a specific time period (for example 30 years) Initially, most of the payment goes to interest but over time more and more of the payment goes towards principal until it is all paid off.

Annual Percentage Rate (APR) – The APR is a calculation based on a government formula designed to reflect the true annual cost of borrowing, expressed as a percentage. It includes the interest, points, mortgage insurance, and other various fees associated with the loan. The rate is also adjusted for the time value of money, meaning that dollars paid by the borrower early on carry a heavier weight than dollars paid years later. An important note, the APR is calculated on the assumption that the loan completes its full term, and is therefore potentially deceptive for borrowers who intend to sell early.

Application Fee – Fees that some lenders charge upon application. It goes towards initial processing expenses like the property appraisal and credit report.

Appraisal -A report that estimates the property’s fair market value based on an analysis of the sales of comparable homes in the same area. An appraisal is required by your lender and must be made by a qualified appraiser.

Balloon Mortgage -A mortgage that typically offers low rates for an initial period of time (usually less than 10) years, and then requires that the balance is due or is refinanced by the borrower. The loan is typically amortized as if it would be paid over a thirty year period to keep monthly payments low.

Cap–The limit on an adjustable rate mortgage that the payment or interest rate can be increased or decreased during each adjustment period (usually 6 or 12 months). Some ARMs also have a lifetime cap.

Closing Costs – Costs that the borrower must pay at the time of closing, in addition to the down payment. There are two categories of closing costs, “non-recurring closing costs” and “pre-paid items.” Non-recurring closing costs are any items which are paid just once such as origination fees, discount points, attorney’s fees, credit report, title insurance and survey. “Pre-paids” are costs which recur during your loan, like property taxes and homeowners insurance. Your lender will estimate the amount of non-recurring closing costs and prepaid items on the Good Faith Estimate which must be issued to you within three days of receiving a home loan application.

Conforming Loan – A mortgage loan which conforms to all of the guidelines and is therefore eligible for purchase by the two major federal agencies that buy mortgages which are Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC).

Credit scoring – an unbiased way of deciding who should receive credit. Weights or scores are associated with your personal credit attributes, such as your income, debt and the time spent at your current address. These scores are added to give a total credit score. The total credit score is a prediction of how likely a person with that score is to default on their loan.

Discount Points (or Points) -The Amounts paid to the lender (based on percentage of the loan amount) to buy down the interest rate. Each point charged represents one percent of the loan amount; for example, one point on a $100,000 mortgage is $1,000. In general, paying one point on a 30 year fixed mortgage reduces your interest rate 1/8 (.125) of a percent.

Fannie Mae (FNMA) – The nickname for Federal National Mortgage Association. Fannie Mae is a congressionally chartered and shareholder-owned company that is the nation’s largest source of financing for home mortgages.

Federal Housing Administration (FHA) – An agency of the U.S. Department of Housing and Urban Development (HUD). They mainly insure residential mortgage loans made by private lenders. They also set the standards for construction and underwriting but do not plan or construct housing nor lend money.

Freddie Mac – A common Nickname for Federal Home Loan Mortgage Corporation (FHLMC). They are a federally chartered corporation that purchases residential mortgages, and then sells and insures securities based on the mortgages to investors.

Good Faith Estimate – A written estimate provided by the lender of the closing costs a borrower is likely to pay at settlement. This estimate must be provided to all loan applicants within three business days after a loan application is received.

Hazard Insurance – Insurance to protect the homeowner and the lender against physical damage to a property from fire, wind, vandalism, and certain other natural causes. Mortgage lenders often require the borrower to carry an amount of hazard insurance on the property that is at least equal to the amount of the loan amount.

Jumbo Loan – A loan that exceeds the legislated purchase limits of Federal National Mortgage Association (Fannie Mae) or Federal Home Loan Mortgage Corporation (Freddie Mac). Also called a non-conforming loan.

Loan to Value Ratio (LTV) – The loan amount divided by the value of the property expressed as a percentage. Value is defined as the lower of sales price or appraised value of the property. Generally, the lower the LTV the more favorable the terms of the programs offered by lenders.

Lock or Lock In – A designated period of time during which a borrower and a lender have agreed to a specific interest rate. Most locks are from 30 to 45 days. This usually involves paying a fee to the lender. Mortgage rates not “locked in” are subject to changing market conditions.

Under some conditions, if you lock and the rates drop, the better rate can be obtained.

Mortgage-Backed Security (MBS) – A security backed by a group of mortgages issued by the Federal Home Loan Mortgage Corporation (FNMA) and the Federal National Mortgage Association (FHLMC). Investors of mortgage backed securities receive payments derived from the interest and principal of the underlying mortgages.

Mortgage Insurance (MIP or PMI) – Insurance purchased by the buyer that covers the lender against losses incurred as a result of a default on a home loan. This is generally required on all loans that have a loan-to-value higher than 80%. Also, FHA loans and some first-time buyer programs still require mortgage insurance regardless of the LTV. When you have accumulated 20% of your home’s value as equity, you can ask your lender to waive the PMI.

Negative Amortization – A gradual increase in mortgage principal that occurs when the monthly payment is not large enough to cover the entire principal and interest due. This shortfall is added to the outstanding balance to create “negative” amortization.

Origination Fee – The fee that a lender charges you for processing a loan. It is usually expressed as a percentage of the loan amount. Unlike points, the origination fee doesn’t impact the interest rate. It doesn’t usually include fees for appraisals, credit reports, inspections or loan document preparation.

PITI – Stands for principal, interest, taxes and insurance which are the four components of your monthly mortgage payment. The payments of principal and interest go directly towards repaying the loan while the taxes and insurance (homeowner’s and PMI) goes into an escrow account to be paid on your behalf when they are due.

Prepayment Penalty – A fee charged by a mortgage lender to a borrower who wants to pay off part or all of a mortgage loan in advance of schedule. The charge is generally expressed as a percent of the loan balance at the time of prepayment, or it can be a specified number of months interest. It is not allowed for FHA or VA loans.

Reverse Mortgage – A loan that enables elderly homeowners, to use their home’s equity without selling their home or moving from it. A lending institution makes a check out to the homeowners each month. This payment is really a loan against the value of a home. Because the payment is a loan, it’s tax-free when the homeowners receive it. These loans are non-recourse.

Title Insurance – Insurance that protects lenders and homeowners against financial loss in a property because of legal disputes over the ownership of a property.

Underwriting – The process of analyzing a loan application to determine the amount of risk for the lender making the loan. Underwriting involves evaluating the borrower’s creditworthiness and the property itself and then selecting the appropriate loan term and interest rate.

Variable Rate – In a variable interest loan, the interest rate changes periodically in relation to an index. For example, the interest rate might be linked to the cost of US Treasury Bills and be updated monthly, quarterly, semi-annually, or annually.

VA Loan – A loan backed by the U.S. Department of Veterans Affairs (VA). VA loans are made to honorably discharged veterans or their un-remarried widows or widowers. These loans require low or no down payment and offer low interest rates.

Chris Herzig
http://www.articlesbase.com/mortgage-articles/mortgage-glossary-124496.html

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To individuals who are not contractors, builders and subcontractors look like very similar businesses. But in reality, builders and subcontractors are vastly different businesses who face vastly different business challenges.

Builders often do not have field crews. They usually do not have large equipment fleets. They tend to have substantial office staffs. Subcontractors always have field crews, equipment fleets, and tend to have very small office staffs.

Virtually all of their differences are justified by their differing business models. All except one: their attitude towards selling. Builders believe in selling and subcontractors typically don’t. Both should.

Selling is Essential to Survival

Selling is the key to business survival. It provides financial security. It fuels growth. It enables a business to attract and retain talented, hard-working employees. With sales, everything else falls into place. Without sales, sooner or later, every thing falls apart.

When a contractor doesn’t sell, he usually ends up with;

Bad clients

Bad contracts

Liquidity problems

Refusing to devote sufficient time and effort to selling is almost a death wish for a construction company. Lack of selling is probably why construction companies are of the two least likely businesses to survive 10 years.

Why don’t subcontractors sell?

Builders understand the need to sell, to differentiate themselves from their competition. They pursue developers and owner operators, they work closely with architects, and they build close relationship with governmental agencies and departments.

Strangely, while virtually all builders understand the need to sell, most subcontractors don’t believe selling is necessary. They turn their back on selling.

Subcontractors almost always start their careers in the field. Their comfort zone is operations. Like most operations focused people, subcontractors have a natural bias against salesmen and everything they represent (selling). Their dislike of selling (and salesmen) combined with endless bid opportunities reinforces their belief that selling is just not something their company needs to do.

Selling vs. Marketing

Contractors often fail to understand the true roles of marketing and selling. Marketing’s role is to create sales opportunities. Selling’s role is to close sales.

Marketing does not close sales. Selling closes sales. That’s why so much attention in sales training is focused on closing the sale and why great salesmen are often referred to as great closers.

Buyers of high cost services buy from people they like and trust, people they have a relationship with. Marketing cannot create relationship. Relationship requires face-to-face interaction. Marketing cannot replace that. Marketing can open doors for salesmen, but it can’t build relationships and close sales.

On a related note, many people believe classic advertising is the only viable option for marketing their business. They are sadly mistaken in that conclusion. Advertising is but one of several marketing techniques capable of generating leads. It also happens to be one of the least effective and most expensive options for generating leads. That’s a bad financial combination.

Referral systems (organized word-of-mouth) are far more effective and efficient at generating new leads than is classic advertising. For that reason, contractors should spend their time and money on building a system for promoting referrals.

Misconceptions about Salesmen and Selling

David Sandler, founder of the Sandler Sales Institute which has trained thousands of salesmen through its network of 160 franchises, points out that “Sales success is dependent on attitude, behavior, and technique, and that each of those items is dependent upon each other.” Attitude affects behavior. Behavior drive development of proper technique. Proper technique combined with effort produces results.

The selling process starts with having the right sales attitude, something subcontractors are almost always short of. Changing their attitude will be difficult without shaking off several common misconceptions about selling and the sales process. That is easiest to do by comparing the approaches used by poor salesmen and superstar salesmen.

The business world is heavily populated by used car salesmen. These individuals use every trick in the book to close a sale no matter how much the buyer will end up regretting the buy. These salesmen don’t care about client satisfaction. These salesmen don’t care if they destroy their company’s reputation. Their only focus is on closing the sale. Used car salesmen have given all salesmen a bad name.

The business world is also heavily populated by salesmen wannabes. These are individuals who want to draw a salary, entertain prospects by going out to lunch or golfing, and love talking about the volume of prospective work they’ve tracked down. They never produce results.

These salesmen are rarely worth the money they are being paid.

In reality, contractors’ dislike of salesmen and selling is based on their extensive exposure to used care salesmen and salesmen wannabes. Neither operate the way superstar salesmen operate. Most superstar salesmen adhere to an approach similar to

Sandler’s recommendations:

Salesman should never manipulate prospects into buying things they don’t need or want.

Salesman should only say yes to terms and conditions that are fair to both parties.

Salesman should never promising performance operations can’t deliver.

Salesman should never accept work from clients who will stiff them.

Salesmen should solve client problems.

Salesmen shouldn’t waste their prospects’ time.

Salesmen shouldn’t allow their prospects to suck valuable information out of them without a deal in place.

By gaining an understanding of proper sales attitude, behavior, and technique, contractors will discover that selling is really just problem solving and deal making, two things most contractors enjoy and excel at.

Hire the Contractor?

Question: Why don’t more owners hire their builders and builders hire their subs?

Answer: They don’t see any reason to.

If a general contractor doesn’t give an owner a reason to hire his company, the owner will choose the general contractor with the lowest price. The same holds true for a general contractor when choosing his subcontractors. Both buyers need to have a reason to move away from the lowest price. That means the contractor better be offering to solve a problem of concern.

In order to get an owner or builder to pay more than the lowest available price, a contractor is going to have to solve a problem the owner or builder really cares about. For an owner, the list of possible headaches would include:

Blown budgets

Excessive change orders

Late completions

Time spent on close-out

Liens

Lawsuits

The list for general contractors would include everything in the owner’s list plus:

Late shop drawings

Incomplete requests for information & change orders

Incomplete certified payroll

Violating OHSA safety rules

Not cleaning up debris

Not showing up on time

Not communicating with project team

All prospects have problems they’d like to have solved. Some are willing to pay for the solution and others are not. The salesman’s first step is to uncover the prospect’s problem then he can move on to qualifying the prospect’s attractiveness as a customer.
Uncovering the Pain

Finding the problem that matters takes effort. Prospects are not going to just blurt out “hey, solve this problem and I’ll pay you whatever you want.” First of all, they often have to be reminded of the problems they’ve experienced because they’ve kind of forgotten about them. Second, businessmen rarely share their inner concerns with strangers (relationship is needed). Third, they may be relatively new to construction and haven’t had the pleasure of experiencing all of the problems that can crop up on a construction project.

When selling, contractors need to ask probing questions then listen very carefully to the prospect’s answers and watch the prospect’s body language. If approached correctly, politely, and professionally, the prospect will eventually air the laundry list of headaches. That allows the contractor to keep his efforts focused on the issues the prospect cares most about.

Proving Your Capabilities

Now that the salesman knows the problem(s) to address, he need to convince the prospect his construction company is going to solve the problems. The salesman should do this by using education, case histories, and most importantly, testimonials to back up his claims. Prospects are highly skeptical of self-claims because history has taught them that salesmen often make promises they can’t keep. They are far more likely to trust the words of former clients. This is why referrals and testimonials work so much better than advertising.

Summary

In conclusion, selling essentially controls a contractor’s financial security. Neither marketing nor bidding strategy is going to convince a prospect to hire a contractor via negotiated contract. Only by calling on prospects and exploring their problems – in other words, selling – will generate negotiated contracts. With the right attitude and a little skill development, most contractors can become highly productive salesmen.

Ron Roberts
http://www.articlesbase.com/management-articles/turnover-is-a-cancer-that-must-be-eliminated-713325.html

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Now, you don’t need to look from here and there to gain cash support, if you are suffering from bad credit score. The loan market has come up with a new kind of loan that is mainly designed for people with bad or poor credit record. Bad credit personal loans can help you even when you are suffering from arrears, bankruptcy, defaults, IVA, CCJs and other debts. These loans are beneficial for people in more than one ways, such as these loans not only arrange money in need of the hour but they also help people to improve their poor credit ratings through repaying money within time frame.

It is easy to avail bad credit personal loans as these loans are sanctioned through various online lenders. Since there are many more lenders that deal in the same loan, you can select a better loan deal by making a sincere online research. With the help of received amount, a borrower can handle his several expenses, such as medical bills, electricity bills, phone bills, home construction and other urgent expenses.

The borrower can avail any amount between £10000 and £50000 through these loans and this is really a sufficient amount to deal with any expense. These loans are offered for a long time period that ranges from 1 year to 10 year and thus, people can do whatever they want. In fact, these loans enable the unemployed people to settle their own businesses.

These loans are also available in both the secured and unsecured forms. if you can place anything as collateral, the secured loans are just the right choice for you, on the other hand, the unsecured type of loans are ready to help you if you are unable to place anything as security. Overall, the purpose of bad credit personal loans is to help people to solve their personal monetary requirements without any tension.

Thomas Buckett
http://www.articlesbase.com/loans-articles/bad-credit-personal-loans-a-perfect-way-of-gaining-money-953202.html

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It is a known fact that every business requires a sound capital backing. Financial issues are always the main concern of all business type. Every business endeavour – big or small – requires productive ideas, planning, proper allocation of resources and intelligent funds management skills. Previously, as the credit market was scattered, unplanned and uncontrolled, getting loan support was a wearisome task. However, over the years, the market has changed a great deal, and many regulatory bodies at national and international level have come up. As a result, the entire loaning business has become very organised and competitive.

Like any other loan, a business loan too is broadly categorised as secured and unsecured loans. A secured business loan requires some collateral for the loan amount. In return, it ensures lower interest rates and chosen repayment terms. It is the most ideal option when one needs a greater loan amount. The only catch is that the borrower may lose his collateral in case he fails to pay back.

An unsecured business loan, recommended for short-term needs, does not require any collateral. But, it comes at a slightly higher interest rate and fixed repayment terms. It is a safe alternative for the borrower, as there are no immediate risks involved. Legal action is the only way a lender can deal with a defaulter. There a variety of other business loan types available in the market. Some of the most popular or common ones are:

* New business loans

* Small business loans or Micro business loans

* Commercial real estate loans

* Franchise start-up loan

* Business acquisitions loans

* Equipment financing loans

* Construction financing loans

* Equipment leasing loans

And, there are many more… The purpose of designing diverse business loans is to save the valuable time of entrepreneurs by targeting their specific needs. Following the principle of demand and supply, professional lenders are increasingly doing market surveys to understand the most common reasons for which a business enterprise applies for credit. This approach has resulted in increased competition in the loan bazaar. Hence, borrowers should do suitable research on their part to figure out the most befitting deal for their venture.

alexawilsoon
http://www.articlesbase.com/loans-articles/business-loan-for-every-financial-requirement-of-an-entrepreneur-100201.html

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ForSaleByOwner&Builder · March2009 · part3

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Technorati Tags: california, hard money, lenders, Loans, mortgages, private investors

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http://www.lendinguniverse.com Find private real estate investors and lenders in San Diego County, California to fund hard money loans residential, commercial land and construction. At http://www.lendinguniverse.com/BorrowersPrivateLender.asp complete simple form and we will deliver you fast, accurate multiple results. We are neither a lenders nor a broker we give borrower tools to find and track and compare all the negotiations. Lenders compete- You decide.
Real Estate Loan & Investor
Our network of registered lenders includes brokers, private investor and real estate investor firms, and leading financial institutions such as Bank of America and Wells Fargo. This vast network of institutions and investors is given instant access to your real estate loan request, which guarantees the best financial deal for each and every Lending Universe client.

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Another great service offered by Lending Universe is the loan control center. Specifically designed to keep track of your real estate loan applications as well as any hard money loans applications, this is a great tool for any client. With this excellent facility, if your loan meets the criteria you can receive between 4-6 bids and a letter of interest for your residential or commercial real estate loan. For your convenience, we ensure that any interest is emailed to you directly.

Lending Universe is committed to securing the best hard money loans and commercial real estate loans for each and every client. With your loan control center, your loan is of paramount importance and until your deal is closed, it remains active. Unlike other online services, our commitment is guaranteed. Commercial real estate loan, residential real estate loan, or hard money loans, whatever your needs, just fill in our simple, effective, secure and integrated application forms and just wait for the results.
Over 10,000 Hard money lenders, brokers and private real estate investors in San Diego County,California funding residential commercial vacant land and construction loans. Service provided in Los Angeles includes:
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Technorati Tags: california, commercial loan, credit, fha, hard money, interest rate, lenders, lending, mortgage brokers, private investor, private investors, private lenders, real estate, San Diego, Wall Street

california · commercial loan · credit · fha · hard money · interest rate · lenders · lending · mortgage brokers · private investor · private investors · private lenders · real estate · San Diego · Wall Street