Business people always require finds to propel their business. The monetary requirements in any business worth its name are larger enough and beyond capacity of average business person. It is never easy to manage the finance through own resources. On taking business property loan the borrowers can take care of the financial aspects of the projects. One can take business property loan for various purposes including starting a new venture or expanding the established business.
Depending upon businessperson’s ability, business property loan can be availed in secured and unsecured forms. Both have their own benefits. To take a secured business property loan, the business persons have to give a security of the loan to the lender in the form of the collateral. The collateral may be any property of the business person such as home or the business property. On securing the loan, lenders usually agree to the desired amount of loan demanded by business person. However, the borrowers should prefer high equity collateral in case greater loan is the need.
One big advantage of secured business loan is lower interest rate. Being a fully secured loan and the risk nil, the lenders have no hesitation in reducing interest rate to the comfort of the business persons. Another advantage is larger repayment duration of the loan. As per the repayment capacity, business people can choose to repay the loan in 5 to 30 years. However, remember that higher repayment term will result in smaller amount of monthly installments. So, choose the repayment term that suits you best.
On the other hand, unsecured business property loan is taken when the borrower does not offer any collateral to the lender. In such a case, lenders look into credentials of the business person. If business person has a good credit history, the loan availing will be equally easy. But adverse credit record may result in taking the loan at harder terms and conditions. Such borrowers may be offered the loan at higher interest rate and for smaller duration. Before these borrowers rush to the lender it would be appropriate for them to make improvement in their credit score by clearing easy debts and by making their credit report error free.
Business people should apply online for business property loan to get numerous loan offers from as many loan providers. One can pick up the loan package that suits best to the budget.
Business property loan helps you in a big way in taking your business to new heights. You should look into key aspects of the loan before finalizing the loan deal. Be particular in clearing monthly installments at due date to escape any pitfalls.
Take Cheaper Finance On Opting For Business Property Loan
Ease Your Financial Pressures With Business Property Loans
Majority of the population is involved in business today. Business requires capital investment. It is not that easy to run a business without sufficient finances. If you face a situation where you require money urgently, you tend to borrow from outside. Borrowing money from relatives could be embarrassing. Now who can provide you such a huge amount? If you think of taking a loan, you are on the right move.
As you want to invest money into your business, therefore opting for business property loans will be a wise decision. These loans can help you meet the urgency of money.
Business property loans are designed for the entrepreneurs, who want to expand or improve the existing business, raise the operating capital, purchase an asset for the business or start up new projects.
As the name suggests, business property loans are secured against a property. The security can be a worthwhile asset of the entrepreneur. It can be the equity in home, car, business premises or bank statement. The lender has the authority to seize the borrower’s property if the repayments are not made on time.
The borrower has the freedom to draw money ranging from £10000 and £10million. The amount however differs from lender to lender. The rate of interest and monthly installments are decided according to the income and repayment capacity of the entrepreneur.
Business Property Loans are also available for entrepreneurs who are going through adverse financial crisis. If you have witnessed the problem of arrears, defaults, County Court Judgments or bankruptcy, opting for the loan will help you overcome the crisis. If you make a judicious use of the loan by using it for debt consolidation you can not only clear off your multiple debts but also improve your credit score.
While applying for business property loans certain documents are to be presented for the valuation of property. Details like business profile, nature of business, length of ownership, and current income are also important in the approval of business property loans. If the entrepreneur is planning to start up a new venture, he must discuss the business plan with the lender and how will it help him repay the loan.
Numerous lenders offering business property loans exist in the market. Approaching local banks and financial institutions is quite a messy affair. They demand lot of time and efforts. Plenty of documentation work is also there.
An alternative to these physical lenders is the provision of hassle-free online lenders. Online lenders facilitate the entrepreneur with a speedy loan approval. A simple online loan application needs to be filled up. The borrower need not worry about the confidentiality of the information given by him in the application form. It remains secured.
Make best use of your property and avail easy finance. Business property loans are there to ease your financial pressures.
Business Property Loans All You Desire
Of all the loans taken these days business property loans are the most craved for. Most of the UK population is involved in business and it is not that easy to start of business or progress in it without any funds.
That is where business property loans can help individuals or the organizations involved in business and find themselves short of the financial requirements.
Business property loans are basically loans taken by the people involved in business for various reasons depending upon their needs.
Generally the business property loans are taken for these purposes.
·For starting a new business venture
·To purchase an asset for the business
·To recover from the losses from previous financial year
·To use the loans as a working capital for the day to day running of the business
With a tendency to serve for all these purposes business property loans are an attractive proposition for all you business people.
To all the people who want to take these loans must know what is required to take business property loans. These loans are basically related to property and therefore to avail them every borrower is required to provide a security to the creditor. A security can be any worthwhile asset in the name of the person who is the bearer of the loan. It can be a house, the business premises or an active current bank account.
It should not be misunderstood that the security is taken for any other reason it is just collateral which provides a security to the lender, which then help us in availing benefits as those of low interest rates, the option of choosing a repayment option with which we are comfortable, freedom to choose any amount between 10000 and 10million. With all these options almost everyone can achieve what one sets out to achieve.
The only down side to it is that if by some way the borrower fails to make repayment on time the collateral is in very serious danger of being seized by the creditors.
Since the business property loans are secured loans once you are willing to provide the collateral you can get the loan even if you have bad credit history. The only difference will be that of the interest rate which you can negotiate.
You can apply for the loans by logging on line and by filling your information regarding the loan and you will get the verdict very quickly.
What makes business expand and therefore successful is money and for people looking for it one of the better sources is business property loans as they provide all those things that are desired in a loan.
Appealing Business Personal Property Tax Assessments in Texas
"Collecting more taxes than is necessary is legalized robbery." These words of wisdom, spoken by the 13th president of the United States, Calvin Coolidge, still ring true in today's society for homeowners and business owners. Robbery may seem like a harsh word, but what would you say if someone tried to sell you one-year-old motel sheets for 90% of the original cost? Based on the appraisal district's depreciation schedule, this is a fair deal.
Most people would not consider this a fair deal and either reject the offer or request a lower price. This should be the same thought process when the appraisal district overassesses your business personal property (BPP). Texas law requires business owners to report BPP, personal property used for the production of income, to the appraisal district for assessment and taxation. Although there are no criminal penalties for not complying with the law, there is a penalty of 10% of the taxes. For example, if you have a BPP account assessed for $100,000, your annual BPP taxes are $3,000, based on a 3% tax rate. The 10% penalty for this BPP account would be $300 ($3,000 times 10% equals $300).
The huge range of assessed value for business personal property (BPP) makes obtaining substantial property tax reductions highly probable. It is not unusual for the range of assessed value for BPP accounts for similar properties to vary by 5,000%! For example, furniture and computers for companies within the same office building sometimes vary from $1 to $50 per square foot. Market value and unequal appraisal are two options for appealing BPP assessments. Given the inequity in BPP assessments and the subjectivity of valuing BPP, property owners have a high probability of success when properly prepared for a BPP assessment appeal. Protest both market value and unequal appraisal.
How to appeal?
To appeal your BPP, you can either use the Comptroller's form, or send a letter to the appraisal review board (ARB) on or before May 31st of each year. The protest letter to the ARB should identify the property and the reason for your protest (section 41.44d of the Texas Property Tax Code).
Tips:
· Since the appraisal district's staff tends to become more motivated to resolve appeals later in the season versus earlier in the season, it is better to appeal or protest on May 31st or shortly before the deadline date.
· Even if you do not receive a notice of assessed value for your BPP account, it is still important to send a written notice of appeal or protest. The appraisal district does not have to send a notice of your assessed value if the value does not change by more than $1,000. If the notice of assessed value gets lost in the mail, and you do not send a protest notice, you lose your right to appeal for the current year.
When sending a notice of appeal to the ARB, also send the appraisal district a House Bill 201 request. House Bill 201 refers to section 41.461 of the Texas Property Tax Code that allows property owners to obtain a copy of any evidence the appraisal district plans to use at the ARB hearing 14 days before the hearing. This request prohibits the appraisal district from using any information that was not provided to the property owner 14 days before the ARB hearing.
Market Value, Book Value & Comptroller Schedule
Three popular options for describing value for BPP are: market value, book value, and the Comptroller's schedule. Market value is defined in section 1.04(7) of the Texas Property Tax Code that reads as follows:
"Market value" means the price at which a property would transfer for cash or its equivalent under prevailing market conditions if:
(a) exposed for sale in the open market with a reasonable time for the seller to find a purchaser,
(b) Both the seller and the purchaser know of all the uses and purposes to which the property is adapted and for which it is capable of being used and of the enforceable restrictions on its use, and
(c) Both the seller and the purchaser seek to maximize their gains and neither is in a position to take advantage of the exigencies of the other.
Let's compare the differences in value resulting from using market value, book value and the Comptroller's schedule. The BPP for a typical motel room includes items such as bedding, linens, window air-conditioning unit, towels and a television. Based on market value, after one year, these types of items could probably only be sold for 10% to 30% of the original cost. Book value, based on federal depreciation schedules, indicates a value of 80% of the purchase price after one year. The Texas Comptroller's schedule for BPP for motels has an eight-year life with 10% depreciation for the first seven years. Hence, the Comptroller schedule indicates one-year old hotel furnishings are worth 90% of their original purchase price. This is clearly inconsistent with market value for these items.
Inventory
There are a number of controversial issues related to how inventory is assessed. These include shrinkage, damage, functional obsolescence and economic obsolescence. For example, what is the market value of merchandise returned during the week after Christmas on January 1st (the effective date for valuation)? Since returned merchandise has usually been opened, damaged, missing parts or may be an unpopular item, it is worth less than cost in many cases. Market value is relevant in determining the assessed value for inventory for Texas BPP taxes.
Preparing A Summary For Your Hearing
The appraisal district would prefer to see a fixed asset listing, which includes the original cost and date of acquisition for every asset purchased. However, a fixed asset listing is not required. This is good news for small businesses that do not maintain a fixed asset listing.
Unequal appraisal
Assessed values for BPP accounts often range from ten-times to fifty-times on a per square foot basis for companies in the same industry. For example, real estate brokerage offices, which have 10,000 square feet of office space, may have assessments ranging from $10,000-$500,000. It seems unlikely that the computers and furniture in one brokerage office are 50 times as valuable as those in a competitor's firm on a per square foot basis.
Appraisal districts tend to accept the assessed value rendered by property owners. Many large companies render using fixed asset listings. Appraisal districts use the cost basis information and the Comptroller's schedule to calculate the "market value" for property. The valuations for these rendered accounts tend to grossly distort the actual value of these properties. Property owners who do not render have values on the lower end of the range of value. While it seems intuitive that appraisal districts would penalize owners who do not render by sharply increasing their assessed values, the practice is the opposite. Appraisal districts tend to reward property owners who do not render by leaving their assessed values at modest levels. This creates a disincentive to render. It also unequally taxes property owners who render with a fixed asset listing. These factors have caused a high degree of dispersion in BPP assessed values.
How To Appeal On Unequal Appraisal
Contrary to popular belief, it is possible to appeal BPP utilizing unequal appraisal, a concept that is fairly new. Most property tax consultants and large property owners have not considered or utilized unequal appraisal regarding BPP. Appraisal districts are resistant to the concept of appealing BPP based on unequal appraisal. (It is inappropriate to tax property owners who render using a fixed asset listing at the highest level, based on utilizing the Comptroller schedule, when allowing property owners who do not render very lean levels of assessment.)
Preparing an appeal based on unequal appraisal for BPP is simple and straightforward. Start by obtaining information on the assessed value, and amount of office space/manufacturing or warehouse space for property owners similar to the subject property owner. This is typically done by using companies with the same Standard Industrial Code (SIC) as the subject property owner. You can obtain this information by sending an open records request to the appraisal district. When appealing, research the assessed value for your competitors. Compile data regarding the assessed value and building area for the subject and comparable accounts into a summary:
When should you appeal?
Appeal annually on market value and unequal appraisal. To effectively appeal on these two options, research unequal appraisal based on assessment comparables on the appraisal district's web site and evaluate the market value of your BPP. After reviewing both the unequal appraisal and market value options, determine your primary focus for appealing your BPP account. If neither market value nor unequal appraisal provides a basis for appealing your property taxes, you can withdraw the notice of protest or just skip the hearing.
Tips for your hearing (Informal & ARB)
Informal hearing
· First meet with the appraiser and politely explain the basis for your adjustment. Give the appraiser a copy of your evidence and explain it in a methodical way.
· The appraiser will review your information and the information he/she has available, and will then likely make an offer to settle. Consider the appraiser's offer and explain why your evidence is better than his/her evidence, and again request your value or a value between your value and his/her value.
· You will quickly learn the lowest value the appraiser is willing to accept. At this point, you need to either agree to that value or proceed to the Appraisal Review Board (ARB) hearing.
· If you settle the appeal at the informal level, you will not be able to pursue an ARB hearing or a judicial appeal. However, it does resolve the issue in a timely manner.
ARB hearing
· Introduction of the two parties at the hearing
· Explanation of the hearing process
· Property description (address any errors in the description of your property after the appraiser's description of your property)
· Property owner presentation
· Questions from the ARB panel members
· Appraisal district presentation
· Rebuttal and closing evidence from the property owner
· ARB announces its decision
Summary Points
· Annual appeals will minimize your BPP property taxes.
· There are huge differences between the market value estimated by the Comptroller's schedule and actual market value.
· Based on excessive assessments for BPP for companies who render using a fixed asset listing, a low percentage of property owners who render and the low assessed values for property owners who do not render, there are rich opportunities for appealing BPP by using unequal appraisal.
A Work From Home Business Opportunity - A Fun Week In The Life Of A Property Scout
A week in the life of a property scout can be as predictable, unpredictable, or as fun as the scout wants it to be. Just imagine yourself living this fun week this couple discusses below… and all because they chose the right work from home business opportunity.
Monday. “We got home so late today from our weekend down at the beach. I just don't feel like working today, Honey. Let's go out to dinner at that nice restaurant and then call it a day.”
“That sounds great to me, Dear.”
Tuesday. “Honey, while you and the kids are at the mall, I'm gonna hit the Web for a few hours and hook us up some promising properties. We have a rockin' company contest going on this week and I plan to win it.”
“Great, Dear - what's the contest?”
“First one with 2 accepted submissions this week gets a 3-day vacation to any one of over 50 destinations. Since we went to the beach past weekend, I want to go the mountains next time. That work for you, Honey?”
“Yes, Dear.
“Great - have fun at the mall. Be safe!”
Four hours pass, and the mall shoppers return. “Hey, Honey - How's it goin' on the property search?”
“I only looked in one database and I found four promising properties, made a quick call on all four, and one of them looks really sweet. I have a phone appointment with that seller tomorrow afternoon.”
“That's nice, Dear. I picked up some steak and lobster for dinner. Is that OK with you?”
“Sure, Dear, even though we already had that at the beach this weekend, it's one of my favorites, too. Thanks to all that research we did and the right choice we made picking the right work from home business opportunity - we can afford it, Dear.”
Wednesday. “How was your golf game today, Dear?”
“I humbled them! That new set of clubs really helped my game a ton.”
“That's nice, Dear. I talked to that seller and she's faxing me all the stats on that promising property I found. Looks like this one could be a real cherry. I also got three other packages faxed in from last week on different deals. I really think a couple of those are duds judging from the numbers, but Ill submit them any way and see what happens. The other one of the three looks pretty good.”
“That's nice, Dear. Feel like dinner at that nice Chinese place and a movie tonight? I want to see that funny Borat movie.”
“Sure, Dear. I'm done for the day. We can do whatever you want to do tonight. Want to get a sitter?”
“Yes, Dear. Let's have a nice night out together for the two of us.”
Thursday. “Tomorrow's Friday. What do you and the kids want to do this weekend? Want to go to our cabin on the lake and hang out and fish a little, you know, that 'get-back-to-nature' thing we enjoy?”
“Sure. Let's invite the Smiths from next door, too. They can bring their Jet Skis, and with our boat and their Jet Skis, all the kids will have a ball. Jerry Smith asked me to explain our work from home business opportunity we chose, and this will be the prefect time to do it.”
“Sounds great to me. Please give them a call, and then you all run to the store and stock us up for the weekend. I have a few calls to make, and I'll also put in a couple of hours - and snag some more promising properties to investigate while you're gone to the store.”
“OK, Dear - and I already know what you'll say - 'Please, no more steak and lobster right now.' Right, Honey?”
“I knew I married way over my head when you said “Yes,” Dear.” I'll see you when you get back.”
Three hours pass, and the shoppers return. “Hi, Honey. We're back, and all stocked up for the lake. How's your afternoon been?”
“Great, Dear! Not only did I find out that one of the properties I thought was a dead duck turned out to be worth checking out, a broker friend of someone I already did a deal for called me and hooked us up with two new properties to check out. And I've never even talked to this guy before!”
“That's nice, Dear. Why don't you just take Friday off, and let's head out to the lake a day early. If you absolutely have to work you can use our new satellite Internet and cell connections out there.”
“Great idea, Dear. That works for me. Let's do it!”
Friday. “Honey, the Smiths are ready any time we are. Let's get out of here early this morning. You can bring your laptop, and you can make any calls on your cell on the way to the lake. If you need to do some emails or a little work, you can do all that when we get there and we're unloading the van.”
“Let's do it.”
“So - how did your week go this week, Honey? What did you end up working - maybe 20 hours or so?”
“Yes, Dear - about 20 - more or less. I found 11 new properties worth checking out, talked to 4 sellers, got in 3 packages, submitted all three, and also got that call from the guy I didn't even know - remember that referral from the guy I already did a deal with? - and he flipped me a couple of deals to check out that might be pretty sweet.”
“That's nice Dear. How much money did you make this week?”
“Cash, you mean, Honey?”
“Yes, Dear - you know - that green stuff that pays off the plastic stuff we use so freely every day?”
“So I married a comedienne, eh? Well, Honey, till the deals I submitted this week go through the process, we won't know. But I did notice that the two $15,000.00 checks I got over the last 10 weeks seemed to work OK for you.”
“Yes, Dear, those were very nice. I'm not worried about it - just trying to stay abreast of your amazing business your doing now. I am so thankful that you're doing that property scouting. Let's head out to the lake now.”
= = =
If for some reason you, dear reader, view what you just read as a fairy tale, you have apparently never experienced the freedom and power of working for yourself in a real, legitimate work from home business opportunity that has the raw power to change your life full-circle in less than a year.
Property scouting offers its participants precisely that option. Instead of accepting 'average' as a lifestyle, these people simply want an honest chance to make some life changes, so they have 'found a home.'
Is it easy? Yes. How difficult would you say looking at an Internet database is, if someone asked you? How easy is your J-O-B?
Does it take a lot of time? It takes exactly as much time as you want to give it. I'd be lying to you if I said that the person who devotes a few minutes a day is likely to have the same results at the same pace as the person who approached it seriously, though. Does your J-O-B take up your time?
Comparing property scouting to another work from home business opportunity, can you make any decent money, you wonder? Well, the property scouts determine their own income every single day. Some will play around with it and pick up an extra $30,000.00 a year or so. Others will generate for themselves and their family an extra $300,000.00.
What will your J-O-B generate for the roughly 2,000 hours you'll put in this year?
So the real question really is - how bad do you want your own work from home business opportunity?
Do you have the mindset to take a chance at really achieving your dreams? Do you have the real, true perseverance to stick with it till it works? Do you seriously want to be something other than another statistic at your current J-O-B? Do you really want to be paid for what you contribute, instead of others taking all the credit and making all the money?
No one but you can answer those questions for you. I can tell you one thing for certain - if you really want it, you can really find it as a property scout.
Your decision right now will determine if your 'make eight and hit the gate' J-O-B will continue to define you, or you'll take a stand right now and reach for more… if you want more for yourself… and maybe want more for those people you say you care about.
You can have predictable, unpredictable, or fun weeks for the rest of your life. Choose carefully. This is your chance. Property Scouting is the work from home business opportunity that can deliver everything you're looking for - and more.