Help Bankruptcy Blog

We’re saying this tongue-in-cheek really, but you know how we’ve touted the many benefits of buying real estate overseas with your self directed IRA LLC which more and more people seem to be doing. Remember how 20 years ago Americans were on the prowl for some Costa Rica land they could call their own? Today, it’s going to be twice as difficult because Costa Rica real estate – or a good part of it – is already in the hands of foreign investors.

The other day we also mentioned about Donald Trump’s Ocean Tower in Panama where pre-construction values start at $200K for a condo unit in the 65- story skyscraper. If construction goes like clockwork, think how wealthy the initial buyers will be 10 years down the road.

Now, looking at the other side of the coin, it’s fine and dandy to encourage you about investing globally, but when it comes to buying property overseas, it would only be fair if we also spoke of the potential hazards. Two sides of the coin – Jack and Jill – yin and yang, remember?

Gerri Willis of CNN Money wrote an excellent article about investing in overseas real estate. She said there are 5 things to watch out for.

1. Look at the larger picture

2. Get help

3. Pay cash (if called for)

4. Check that title

5. Grease the wheels

We’ll explain the first two in this blog, and then the final three in the next blog. But you can read Ms Willis’ article here if you want to:

http://money.cnn.com/2006/03/23/real_estate/tips/willis_tips/index.htm?postversion=2006032311

Looking at the larger picture means that before you plunk down your retirement savings on a piece of property, study the country on which that piece of property stands. If Costa Rica has become too crowded, you might be attracted by Switzerland’s neutral global position but Ms. Willis said that foreign ownership in that country is restricted. Going to the far end of the globe, she says Vietnam is a great Asian country but is still in the developmental stage.

Get help. If you’re thinking of buying property in Malaysia, Ms. Willis says you’re welcome to, but when you decide to sell it, your money has to stay in a Malaysian bank account. So you’ll need some expertise in this issue.

… We say always get help especially from a qualified self directed IRA real estate advisor advisor whenever you are investing in real estate with an IRA. They can flat out provide you advice and insights not known to financial planners as a whole.

There’s a hot new hot online business opportunity for Internet entrepreneurs: Audiobooks.

The audiobook market is about to go through the roof.

In 2004, the off-the-shelf audiobook industry (i.e. cassettes and CDs) was $800 million strong (Source: Audio Publishers’ Association). By the end of 2005, industry estimates reported that audiobooks had become a $2 billion industry. That means it grew by 150% in just 1 year!

To give you an idea of the kind of money that can be made in this industry, consider this: The leading audiobook download company, Audible.com, generated sales of $65 million in 2005 exclusively from downloadable audiobooks. But that’s only the tip of the iceberg since that’s only a 3.25% share of the total two billion dollar audiobook pie.

That means the rest of the market share (96.75%) is up for grabs by any number of entrepreneurs — like you — who want to seize the opportunity.

But sales won’t stop at $2 billion dollars a year.

Here’s why:

People are busier than ever — and time has become a dwindling commodity. Therefore, people are constantly looking for ways to make the most use of their “dead time” — such as the time they spend commuting, jogging, gardening, working out, doing chores, running errands, etc.

With the rising popularity of MP3 players such as the iPod, people have just started to discover that music is not the only thing they can listen to while going about their day.

Now, people can “listen” to books, teleseminars, lectures and podcasts while they’re on-the-go — and when they don’t have time to read.

And since today’s selection of downloadable audio books is not limited to just fiction and literary works, but runs the gamut from how-to manuals to business books and self-help information, today’s mobile society has found out that they can download an unlimited amount of information into their brain, learn a skill, enjoy a murder mystery or an epic romance novel — and even increase their cultural literacy instead of listening to drive-time radio.

Audio books and other spoken word recordings have become brain food for the time-strapped multi-taskers of the world!

Reviewing Some Get Out Of Debt Options

Being burdened with a lot of debts simultaneously maturing can be a harrowing experience. Just thinking about the many sleepless nights spent in absolute anxiety is enough to cast fear upon anyones soul. Juggling our finances is hard enough as it is. To do so with the specter of gloom brought about by due and demandable debts could really, and literally, drive us crazy.

There are many factors that would contribute to such a terrifying state. Financial management, without a doubt, is one of them. Financial management does not only entail a wanton neglect of a budget plan and an uncontrollably vicious spending streak. Often, it is caused by lack of proper education in the in sound financial planning.

When we find ourselves in such a financial rut, we try to look for available options that would help us get out of the hole we have dug for ourselves. However, options drastically reduce in number the deeper we get buried in debts.

But this shouldnt be taken to mean that we dont have any options to resort to. There are some of them that are still available, and they deserve a closer look if we want to get out of our financial troubles.

There are still a number of options available for you. Lets take a look at them.

Debt Consolidation

You could decide to merge your existing loans into one debt, though not directly. Through debt consolidation loans, the creditor would pay off your subsisting debt. You will then have just one debt to pay, that of your new creditor.

Debt consolidation is often resorted to for the following reasons:

* It would extend the maturity date of your loans under the new consolidated loan.
* You would pay a lower interest rate under one loan.
* It would be easier to manage a single loan than having to pay off multiple ones every month.

Debt consolidation would not necessarily solve your debts per se, but at least, it would buy you the time that you would need to muster enough resources to settle your obligations. It is still a good option, especially when several debts become due and demandable within the same period.

Securing A Second Loan

Not as direct an option as debt consolidation, you could always apply for a new loan to pay off an existing one. This would be a great approach, not only in prolonging the maturity date of your obligation, but also in paying a lower interest in the event that the new loan has a lower rate than the previous one.

Second loans have always saved a lot of debtors from almost certain disaster. Most loans do not ask for the purpose of your desired borrowings anyway. By applying for a new loan, youd be able to delay eventual payment, and youd be able to answer the more pressing needs of your life.

Filing For Bankruptcy

Considered as the court of last resort, you could always file for bankruptcy. You would need to have exhausted all available remedies though, and you must prove to the court that your application is done in good will, meaning you have no intention whatsoever to defraud your creditors. You would also have to establish through preponderance of evidence that you cannot fulfill all your obligations once they have become due and demandable.

Your assets would thereafter be placed under the case of a court-appointed trustee. The said trustee would call all your creditors to an assembly, called a 341 meeting, where your assets would be liquidated and distributed among them, in proportion to their respective claims. The portions of the debts that cannot be fulfilled by your assets would be written as losses for your creditors. After this, your debts would be considered dissolved.

Though declaring bankruptcy has its benefits, it also has its share of disadvantages. Among them is the negative mark it would leave on your credit record, which would adversely affect future loan applications as well as when youre applying for a job.

Also, you must be reminded that your line of credit would be suspended for at least 2 years. It would take quite some time before you could recover from a state of bankruptcy.

financials

By Joshua Geary

We’re saying this tongue-in-cheek really, but you know how we’ve touted the many benefits of buying real estate overseas with your
self directed IRAs and LLCs which everyone seems to be doing. Remember how 20 years ago Americans were on the prowl for some Costa Rica land they could call their own? Today, it’s going to be twice as difficult because Costa Rica real estate – or a good part of it – is already in the hands of foreign investors.

The other day we also mentioned about Donald Trump’s Ocean Tower in Panama where pre-construction values start at $200K for a condo unit in the 65- story skyscraper. If construction goes like clockwork, think how wealthy the initial buyers will be 10 years down the road.

Now, looking at the other side of the coin, it’s fine and dandy to encourage you about investing globally, but when it comes to buying property overseas, it would only be fair if we also spoke of the potential hazards. Two sides of the coin – Jack and Jill – yin and yang, remember?

Gerri Willis of CNN Money wrote an excellent article about investing in overseas real estate. She said there are 5 things to watch out for.

1. Look at the larger picture

2. Get help

3. Pay cash (if called for)

4. Check that title

5. Grease the wheels

We’ll explain the first two in this blog, and then the final three in the next blog. But you can read Ms Willis’ article here if you want to:

http://money.cnn.com/2006/03/23/real_estate/tips/willis_tips/index.htm?postversion=2006032311

Looking at the larger picture means that before you plunk down your retirement savings on a piece of property, study the country on which that piece of property stands. If Costa Rica has become too crowded, you might be attracted by Switzerland’s neutral global position but Ms. Willis said that foreign ownership in that country is restricted. Going to the far end of the globe, she says Vietnam is a great Asian country but is still in the developmental stage.

Get help. If you’re thinking of buying property in Malaysia, Ms. Willis says you’re welcome to, but when you decide to sell it, your money has to stay in a Malaysian bank account. So you’ll need some expertise in this issue.

No matter the industry, no matter whether you run your business from a corporate boardroom in a high rise or a spare bedroom at the back of your house, leadership brings lots of challenges.

We all get tired. Most leaders work longer hours than anyone else and yet have all the same family responsibilities that jam-pack our schedules. But whether a work-at-home entrepreneur or a board-of-directors hired CEO, leaders need one key trait: the ability to focus and stay on track for success. So, knowing that business success demands efficiency, remember that failure is not an option.

That said, here are five practical suggestions for business success - along with what we hope is some encouragement and inspirational wisdom - that will help you succeed.

Step #1: Pace yourself -
It’s human nature to wait to the last minute. Don’t. Plan your time. Understand that we all have the same 24 hours in a day. Identify your priorities, break them down into tasks and put them in your schedule. Review that schedule at the start and end of each day.

Similarly, be selective in accepting invitations to take on more work. Think carefully before saying yes. Your “down time” and sharpening-the-saw time is not a luxury. It’s critically important to your physical and mental health. But some time for solitude, medication, prayer, thinking time into your schedule. Think of it as a recharging period, as critical to your energy levels as plugging your laptop into a wall is to its power supply.

Step #2: Know what your job is… and what it isn’t
One job all leaders have is to be an example to the people they lead, do business with and influence. Let your lifestyle be one of integrity. Know that people are watching. We teach by more than words so look at your life carefully. If you have employees, they will model their behavior after yours.

Leaders are also to be an encourager and a guide. Don’t be a stern taskmaster. Let your words build up and inspire.

You can’t fix everything. You also can’t do everything. Real leaders know how to delegate. Leaders are facilitators, teachers, mentors. If you are a one person operation, see what tasks you can outsource. See what tasks you have that take away from your most important functions. Concentrate on the most important and be ruthless in letting the trivial pull you away.

Step #3: Recognize your limitations

You will make mistakes. Understand that. Learn from them. If you have hurt others, apologize promptly and seek to make things right. Don’t let mistakes bring you down. Use them to build you up. Experience is a great teacher and we learn more from failure than success. Similarly, be quick to forgive coworkers, clients or others when they make mistakes or hurt you.

Set goals. Work to learn more, gain wisdom and experience. write down those goals. Identify your weaknesses and then figure out how to turn them to strengths. Spend some time every day learning new things about your business and about leadership. Practice patience.

Step #4: Realize there is a cost

Leadership indeed does have its perks. But realize that l;eadership is work. It requires lots of time. Something will have to go. Weed out from your life the distractions and pursuits that needlessly drain your energy and steal your time like too much TV watching or Internet surfing.

Also know that whenever a person steps up to leadership, you have have a target on your back. You will be criticized, sometimes with cause, often with out. Realize it just goes with the territory. Develop a thick skin. Leaders see things others don’t. They dream dreams others don’t have. They work towards a future others can’t imagine yet.

That means that leaders can get lonely. Network with other leaders. You need to be mentored, too.

Step #5: Realize you will succeed

Leaders are confident of success. We may not see how or understand exactly how that will happen but yu need to be absolutely, 100% certain that you will succeed. .

That means that the people you lead should see that confidence in you. So should your clients and customers. So should your family. Confidence breeds success.

Go… be confident… succeed!