CalHeights, Long Beach, Ca. On November 14th, 2009, between the hours of 8:00 am and 3:00 pm, over seventy residents of the Cal Heights neighborhood located in area of Bixby Knolls will be hosting a Community Garage Sale. All kinds of items will be available, for sale.
The Community Garage Sale came about when Shelly St. Denis and Kirk Mulhearn went through the community and asked who would possibly like to participate, expecting possibly fifteen to twenty households in the quad between Wardlow on the South, 37th on the North, Atlantic Ave on the West, and Orange Ave. to the East.
Is it too late to sign up? Unfortunately, yes, it is too late to sign up because October 29th was the last day to sign up.
Will there be more Community Garage Sales in the future? Yes, we are planning another Garage Sale in the summer of 2010.
Does it cost any money for me to participate? If you sign up with Prudential California Realty and RSVP in time there will be no charges; however, if you miss the dead line and you still want to sign up, there may be a late fee due to the City of Long Beach.
Kirk Mulhearn, a Long Beach Real Estate Broker co-manages Prudential California Realty, "The Bixby Knolls Office," and a Net Branch of, GEM Mortgage, a direct lender specializing in FHA, VA, and Conventional financing. Contact him at: 562-989-4608 ext. 110
Long Beach, Ca. Bulk Purchase of REO, notes and distressed assets through one of the largest
resellers of lender owned assets in the United States and an approved asset manager
under the U.S. Governments (Public-Private Investment Program) for the
disposition of bulk REO/Distressed assets through the FDIC.
In order for new and/or prospective buyers to get a better understanding of how to buy
wholesale bulk real estate assets through this program we have prepared the following flow chart.
Should you have any additional questions please call:
Step 1
NAA Representative will assist Buyer in preparing the following for submission:
1. Letter of Intent
2. Executive Summary/Profile
3. Non Compete Non Disclosure Agreement
Step 2
Prospective New Buyer (Buyer) to be considered for bulk inventory purchase must meet or have
phone interview with NAA Representative.
During this meeting/interview the following will be determined:
1. Mutually suitability of Buyer with NAA business model and goals.
2. Buyer previous history/track record in bulk purchase(s)
3. Buyer capital capacity for bulk purchase(s).
4. Buyer business plan for off load or resale of units.
Step 3
Buyer submits Letter of Intent and Executive Summary/Profile to NAA Representative>
NAA Representative reviews paperwork>
NAA Representative submits package to NAA Managing Partner>
NAA Managing Partner Committee reviews for:
1. Letter of Intent for suitability and availability in current marketplace.
NAA Legal Department reviews:
1. Executive Summary/Profile of Buyer for background review.
Step 4
Upon successful completion and approval of Letter of Intent and Executive
Summary/Profile, NAA Representative and Managing Partner will meet or conference with
Buyer to review process and product availability.
Buyer will provide satisfactory evidence of capital resources Proof of Funds to match with
Letter of Intent target purchase.
Step 5
A price quote/product list will be generated within 5 business days and sent to Buyer for
review.
Step 6
Buyer has 48 hours to review and either decline or enters into agreement by signing and
ratifying NAA generated purchase agreement. A final Product List is generated and
incorporated into purchase agreement.
Step 7
Buyer places 10% of the purchase price into mutually agreed upon escrow holder.
Buyer has between 5-15 business days to perform all due diligence and approve the final list of acceptable properties. Time factor will be determined by size, complexity of the transaction
and logistical considerations. Time factor will be determined by negotiation in advance of ratified
purchase agreement. The final list of accepted properties must be equal to or greater than 90% of
the "Letter of Intent", otherwise the pricing is subject to review and or renegotiation.
Step 8
Day 6-16/ or 1 business day after due diligence period
Deposit is equal to 10% of the purchase price goes "Hard" (Non Refundable). The receipt of the
Deposit will activate the contract.
Designated escrow agent works with the designated Title Company to get deeds issued and
titles cleared of any liens or encumbrances. (Note: Partial Closings may occur weekly until total
takedown has been completed.)
Title prepares Preliminary Title Report and HUD statement.
Step 9
Day 30 Remainder of Outstanding Funds must be deposited in escrow.
Notes:
In consideration of the requirements of the product sources, it must be taken into account the live
nature of the assets. Live assets are not guaranteed to remain available and are subject to going
under contract at any time prior to being secured.
Information Completeness is extremely important. Particularly in respect to the executive
summary, track record and financial capacity. The reason that we are able to purchase
discount or wholesale real estate assets from the financial institutions at the prices and ongoing
availability (while other competitors become blocked out of the market) is that when we place an
order we have one of the highest "pull through" rates in our industry. This allows us to continue
to offer the products we do, at great discounts to our clients on an ongoing basis.
We need to know who we are really dealing with and their ability to complete a purchase with us.
The moment we begin researching and finding the discounted assets our clients order, we are
employing staff man-hours and our financial outgo begins. We are looking for serious business
people who are ready, willing and able to complete the orders they create in their Letter of
Intent's as we are able to fill the Letter of Intent parameters.
Once the Balance of Funds has been satisfied we will entertain subsequent orders.
The entire sales process generally plays out over a period of approximately 25-30 business
days or less (5-6 weeks).
Kirk Mulhearn, a Long Beach Real Estate Broker co-manages Prudential California Realty, "The Bixby Knolls Office," and a Net Branch of, GEM Mortgage, a direct lender specializing in FHA, VA, and Conventional financing. Contact him at: 562-989-4608 ext. 110
Long Beach, CA. Two years ago, there were over 90000 mortgage brokers nationwide. Last year, less then half of those applied for the stringent new licensing requirments demanded by State governments. Now, less then 36% of those people who applied for their licenses have reapplied to continue to practise as mortgage brokers. The bottom line is that there is much less choices for consumers and much hire cost to get a mortgage in today's real estate market.
Home buyers need to be aware of what the State of California will do with the implementation of the SAFE act, it stands for Secure and Fair Enforcement for Mortgage Licensing Act. In a few weeks California will enact the SAFE Act which means individuals will have to obtain their own licenses if they want to operate as loan brokers. According to the California Mortgage Bankers Association, individual loan officers can no longer latch onto a company license and must obtain their own.
A spokesman for the trade group noted the "act should pass here in the next few weeks, which will be a much bigger change than in some other states that already individually license loan officers." California also is working on major legislation to reorganize and consolidate all the financial/real estate agencies and departments, and create a new consumer-focused department but no further action is expected until next year.
What does that mean - more regulatory oversight, and for those of you that every worked in a banking environment, it will arrive for the mortgage banker and broker full force. Quick refresher on trying to maintain compliance with this issue. By the end of this year's legislative season, it is anticipated that each state, with the exception of Minnesota, will have passed legislation that implements the requirements of the S.A.F.E. act. The state legislation will require that mortgage originators meet the minimum requirements set forth in the S.A.F.E. act -- such as fulfilling pre-licensure education requirements -- and potentially meet more restrictive state requirements to the extent a state law goes beyond the act's requirements. Pursuant to the S.A.F.E. act, NMLS has been tasked with establishing standards for originator examination and education requirements. NMLS completed the development of its national examination required under federal law, allowing loan originators to register and providing access for completion. Though it has gotten off the ground, NMLS is continuing to work with state regulatory agencies in connection with preparing and releasing state-specific examination components.
Bottomline: Prepare to for full government intervention in the real estate markets to the point of nausea. These new laws are poignant examples of what happens when the regulation pendulumn swings far too much to the other side.
Kirk Mulhearn, a Long Beach Real Estate Broker co-manages Prudential California Realty, "The Bixby Knolls Office," and a Net Branch of, GEM Mortgage, a direct lender specializing in FHA, VA, and Conventional financing. Contact him at: 562-989-4608 ext. 110
Long Beach, Ca.In our lives it is worthy to aspire to greatness.Sometimes society only recognizes success by revenue, money, or sales statistics which is wrong when you look at the big picture.There are many ways to measure success.What we need to do as a society is to rediscover who we are as a nation.The human spirit is a grand creation that has unlimited potential.It is only when we surrender our dreams that we lose.For most people, life is a struggle, scratching out an existence in this very challenging world.However, just surviving is not living life to its fullest.
Recently, I interviewed a real estate agent who was on a National Championship team under the great Hall of Famer, John Wooden.Unfortunately, for this past champion player, the lessons learned on the basketball court did not transfer into success in the real estate profession, he had not made a sale in over twelve months.This is sometimes the case, a great player used to a certain type of success in physical sports languishes in the mental challenges of the business world.
But whatever your opinion, let us take a quick look at the success of John Wooden,he started coaching College basketball back in 1946.It took him twenty years to win the National Championship.Wow, what was he doing for 20 years?---building his finely tuned basketball machine, his philosophies, his character, his pyramid of success.
The point is that too many people put the emphasis on the actual Championships rather then the road that was travelled to get there.Let us all reflect on that even when our lives feel challenged or depressed that there is a Championship with your name on the Trophy, if you really desire it.
Some great quotes from John Wooden
"Consider the rights of others before your own feelings, and the feelings of others before your own rights."
-John Wooden
"Be more concerned with your character than your reputation, because your character is what you really are, while your reputation is merely what others think you are.”
-John Wooden
"You can't live a perfect day without doing something for someone who will never be able to repay you."
-John Wooden
Kirk Mulhearn, a Long Beach Real Estate Broker co-manages Prudential California Realty, "The Bixby Knolls Office," and a Net Branch of, GEM Mortgage, a direct lender specializing in FHA, VA, and Conventional financing. Contact him at: 562-989-4608 ext. 110
Long Beach, CA.As California grapples with the largest State deficit on record, it has cut off the $10000 tax credit for first time home buyers seeking money back for investing in new constructed housing, Sacramento announced last week.
Will California be able to balance its budget in time to avoid massive lay offs?Or, will it continue to, “kick the can down the alley,”as the Governor likes to say in regard to the legislatures inability to address formulating a government that spends within its means?
Last Thursday, the State of California began issuing IOUs in lieu of its normal checks as an emergency measure on how to deal with the situation….Today, Wells Fargo decided to tell the State of California they will accept their IOU's until July 10th. Thereafter, they will no longer accept the IOU's for deposit. We understand BofA has said the same thing:
Wells Fargo & Company (NYSE:WFC) said today it will accept registered warrants issued by the State of California from its retail and business customers for a limited time. It will begin accepting the registered warrants for deposit on July 2, 2009 and stop accepting them no later than July 10, 2009. “We’re very disappointed, as are many Californians, that California has taken the unfortunate step of issuing IOUs in lieu of its payments to some businesses and individuals,” said Lisa Stevens, head of Community Banking for Wells Fargo in California. “Wells Fargo has a long history of taking extraordinary measures to help our customers and will accept registered warrants from our customers, but only for a limited time, to allow them time to make other arrangements. We are reluctant to take this step, but are doing so to help our customers who are not at fault and with the expectation that the Legislature and Governor will complete the budget within days. We join all Californians in urging our Legislature and our Governor to take the appropriate steps as soon as possible to resolve this budget crisis.”
This week a flood of treasuries:
There will be an auction this week of 65 Billion in treasuries.If demand is not real strong, it will mean that our rates cannot go lower than the level you are currently seeing and you should consider locking your rate depending on how the market absorbs this large amount of bonds.
Kirk Mulhearn, a Long Beach Real Estate Broker co-manages Prudential California Realty, "The Bixby Knolls Office," and a Net Branch of, GEM Mortgage, a direct lender specializing in FHA, VA, and Conventional financing. Contact him at: 562-989-4608 ext. 110
Long Beach, Ca. As you may be aware, last week on Friday,the House passed by a 219-212 vote and energy bill commonly referred to as "Cap and Trade" because it puts "caps" on the carbon emissions from every U.S. company and industry and imposes trade limits and tariffs on imports.Proving no industry is immune from the hand of the Federal government and global climate activism, the Cap and Trade bill has some provisions that are very detrimental to the real estate industry, and especially in Southern California where real estate short sales consist of over 50% of closings and many sellers simply do not have the funds to bring their propertiesup to the standards required by the new law if it passes through the Senate and is signed into by Obama.
As part of the legislation every existing home sold in the United States using FHA financing will require an energy audit, paid for by the seller.The audit will cover all appliances, water, gas, heat, cooling; all energy systems will be audited to see if they meet federal standards.If any system or appliance fails to meet the standards the house cannot be sold until it is retrofitted to meet the new standards.The standards are being set to achieve a 20% improvement in energy usage.
You list a home built in 1960 with elderly owners who have lived in the home since 1988 and have not retrofitted the home since purchasing the home almost 21 years ago.What are the chances the home will meet the new federal standards?If the buyer is not an FHA buyer they may not need to worry about it but the market is now limited to mostly FHAbuyers because conventional loans require a minimum of 10% down wherein FHA only requires 3.5% down.What if you have a qualified buyer, but they are only qualified using FHA financing? Many sellers may not take their offer because they do not want to go through the energy audit and retrofit.Many banks may wait until a conventional loan offer comes in; thus, shutting out many sales opportunities in an already hurting industry.
The Cap and Trade bill as passed by Congress is discriminatory against FHA buyers and sellers--typically the lower income and first time buyers in our market.Our current market in Long Beach, Californis and indeed; the nation is still reeling from a devastating period.Fortunately because of FHA financing we have increased sales, Cap and Trade will kill much of this market.
The real estate industry needs to fight this bill and specifically this provision before it gets adapted by the Senate.Please contact CAR, NAR and Senator Feinstein and Boxer, plus encourage your colleagues to do the same to kill this bill before it goes any further.
Kirk Mulhearn, a Long Beach Real Estate Broker co-manages Prudential California Realty, "The Bixby Knolls Office," and a Net Branch of, GEM Mortgage, a direct lender specializing in FHA, VA, and Conventional financing. Contact him at: 562-989-4608 ext. 110
Long Beach, CA. We wanted to share information about how buyers finance in today's marketplace. Below is a lot of information for your review. Our job is answer questions and help guide you for the best decision.
As we know, the $8,000 federal tax credit for first time buyer's drove the marketplace the past several months to where it is primarily a seller's market for entry level home prices Six months ago, it was a buyer's market. To qualify for this rebate you wlll have to fill out IRS form 5405 that when you file with your 2009 federal taxes determining the amount and eligibility of this important tax credit. Please review with your tax preparer.
The State of CA through CalHFA has down payment/closing cost assistance available based on household income. A first time buyer (someone who has not owned property in three years) is eligible for 3% of the sales price for down payment and/or closing costs assistance. Please visit www.calhfa.ca.gov where you may become more familiar with their programs. Currently, 1st mortgages from CalHFA are difficult to acquire due to lack of product. As a result, buyers will get a standard FHA or a FHA Energy Efficiency Mortgage and combine it with a CalHFA CHDAP 2nd mortgage (3% of the sales price) for closing cost assistance. The CHDAP is a silent second mortgage with no payments and a 3.25% interest rate as long as you live; do not refinance; or sell the property. The buyer makes the traditional 3.5% FHA down payment.
Cities have down payment assistance programs based on income and property sales prices. The income limits are often mirrored by the income limits we see with CalHFA. Also, cites have these programs based on specific properties too. This allows the buyer an opportunity to purchase a home that otherwise would not exist.
FHA has three standard popular programs available for buyers.
1. The standard FHA 1st mortgage has only a 3.5% down payment requirement. Two years ago less than 10% of all owner occupied purchases utiilized FHA. Now, more than 75% of the same purchases use FHA financing and the percentage grows as conventional financing is more restrictive and difficult to get.
2.The FHA Energy Efficiency Mortgage allows up a buyer to finance energy efficient improvements (i.e. windows, doors, hot water heater, dishwasher, insulation, heating/air conditioning). The amount of money is based on the sales price (generally 5% of the sales price may be available for improvements). This was increased from a previous limit of $8,000 just a few weeks ago!
3. The FHA 203(k) Streamline allows a buyer to finance improvements and non structural repairs (flooring, paint, kitchen and bathroom fixtures/cabinets, appliances, pool equipment). The maximum amount is $35,000. Please see the attached HUD document outlining this valuable program.
Given the condition of many properties, the FHA 203(k) Streamline is more and more popular. I have personally provided this mortgage and have a couple in escrows right now with more buyers out shopping using this financing. The FHA Energy Efficiency Mortgage may be combined with the FHA 203(k) Streamline for maximum financing. The repairs/upgrades require use of a licensed general contractor and allow the normal close of escrow. A buyer of mine in San Diego bought a duplex with a pool that was bank owned for $340,000. We financed $43,000 (using 203(k) and Energy Efficiency combined) for the repairs/upgrades. The bottom line is the improved property value exceeded $400,000! The client made money day one! The beauty is ONE 30 year fixed payment!
One important aspect of FHA is the FHA Sreamline Refinance programs the home owner may utilize if interest rates decline after the home is purchased. This important refinance allows the buyer to refinance with a benefit to the buyer (lower home payment) without the cost of an appraisal; without declaration of income and assets! This simplified refinance right now is being/has been utilized by home owners who utilized FHA last year. Many are financing 6% plus interest rates into interest rates in the middle 5% range with the issue of an appraisal!
There are teacher and veteran programs available. The VA financing allows 100% financing. The CALSTRS financing for those who work for a public school system allows an 80% 1st mortgage and a 17% second mortgage with no payments for five years! Plus, there are other specialty finance programs.
About me and Golden Empire Mortgage (GEM). This has been my full time job for more than seventeen years. I work/am available six and one half days a week. Focus, listening, and execution of a game plan is how I operate. My client (you) is the only person I care about in a transaction by law and ethically. It is my job to protect your interests period.
GEM is a direct lender processing, underwriting, loan documenting, and funding the loan in our name. Our underwriters have delegated underwriting authority from numerous banks. What this means is we can approve a mortgage for Bank of America without having to ask B of A for permission to fund the mortgage. Our FHA underwriters are approved by HUD and banks for approving FHA loans. This allows us to look at many of the national lenders on a daily basis for the best rates and programs. For example, Bank of America has been very aggressive with their FHA interest rates. The past few weeks, GMAC (now that they have some issues resolved) has become aggressive too. The bottom line is the client (you) benefit as we seek out the best rates and terms. All of our lending functions are done here in California by Californians. We do not outsource our operations.
Kirk Mulhearn, a Long Beach Real Estate Broker co-manages Prudential California Realty, "The Bixby Knolls Office," and a Net Branch of, GEM Mortgage, a direct lender specializing in FHA, VA, and Conventional financing. Contact him at: 562-989-4608 ext. 110
Long Beach, Ca.I remember one day my father took me to some homes he was building in Hacienda Heights in the early 1970’s.He was so proud to show me how the homes were built into the hills.I was nonplussed and told him that I wanted an “action job like being an army man, a fireman or maybe even a policeman.”He laughed and found much pleasure in those statements. Although not a civil servant, a guess today proved that being a real estate broker can be an action packed job.
Fast forward almost 40 years and I find myself putting together an open house in Bixby Knolls.A beautiful listing by Mr. Mike De Martino.The property at 4641 N. Cerritos, in Bixby is a beauty with over 2000 sq. feet featuring 3/4 inch oak floors throughout, brand new Dynasty Omega cabinets in the kitchen and baths.Definitely a handsome contribution to Long Beach, California’s real estate repertoire.
I smile when I think of the hectic day we had when holding this home open.There were no less then 15 couples that came through the open house, all interested and most were definitely qualified.
Although the home appears rather humble on the outside, after you pass through the courtyard wall, you enter into an enchanted and peaceful world.The pineapple fountain dribbles and splashes a greeting to you as you enter through the courtyard giving the home a feeling of privacy.
You stroll down the path to the main entrance door which is all glass.A benefit of having a security door at the courtyard is that you can have a lot of glass doors opening up into the courtyard which really makes the house breath and flow.
As you enter the foyer, there is a partition wall separating the Family/Living area and Kitchen form the bedrooms’ hallway.The layout is an open plan which makes the home feel very large.In fact, the spacious 10000 sq. foot lot is well utilized.Even more French doors open into the garden in the rear which makes the back patio feel like another outdoor room.
If you are considering purchasing inBixby Knolls and interested in seeing a finely staged home, take the time to see this home.
Kirk Mulhearn, a Long Beach Real Estate Broker co-manages Prudential California Realty, "The Bixby Knolls Office," and a Net Branch of, GEM Mortgage, a direct lender specializing in FHA, VA, and Conventional financing. Contact him at: 562-989-4608 ext. 110
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Long Beach, Ca. Unfortunately, in today's world, when we hear the words "customer service," too often we draw a blank when thinking of when was the last time we really experienced it. However, good service is still there, you just have to look out for it and when you find it, acknowledge it and make sure that you support the institutions that provide it.
For those of us over forty years of age, we can still remember the marvel of, "Full Service," at the local filling station growing up. If you opted for the full service, you would have a young man greet you at your vehicle, he would pump the gas for you, check your oil and tire pressure; of course, he would notify you if there was something awry, then he would finish off by cleaning your windshield to a sparking clarity. Can you imagine this approach in your local "service station," today?
Another example of great customer service is easily understood when having a positive fine dining experience. The entire dining affair becomes a pleasant and memorable adventure. You are greeted by the maitre d', welcomed and seated by the host, acknowledged by the waiter, played to by the musician and even possibly visited by the Chef. Each person that you meet enhances the experience, fills the voids, and rounds out and completes the evening. Like the layers of servers, the food also comes in waves or courses. It proves that there is an exchange going on between the service provider and the customer.
Still another way to witness good service is if you have ever traveled First Class across the Continent or overseas, there is simply no comparison to "Coach." You are pampered, given hot towels to rejuvenate your skin, complimentary cocktails, and the best meals, normally, you have plenty of legroom and a protective steward at your call ready to assist you in any matter. It makes the time go faster and can actually be fun not to mention comfortable.
This concept of good customer service is dumbfounding to most Americans these days, but it doesn't have to be that way. You see, understanding how to provide excellent customer service should be a primary and mandatory philosophy of every enterprise and every customer, too. . Let us revisit the idea of customer service and really hammer out what it means to, "Serve others."
And now something that may shock you.....your success in experiencing service depends on your own disposition. This idea of providing service is what life is all about. Learning how to take care of your fellow man is a simple and basic exercise of etiquette and civility. Learning how to communicate, treat, and relate to others is paramount to understanding the fundamentals of providing good service.
If you want to find out quickly how another person really is on the inside, just buckle up and drive through a heavy traffic jam with him. Here, the real person will definitely come out. You will soon see either total profanity, crass shouting and screaming, and lewd gestures issuing from the driver if he has no concept of decency and service or; on the other hand, the refined citizen will drive in a more giving and generous style that is not only safer and steady, but can actually make the whole experience enjoyable. What is the real difference between the two drivers?
Although there are countless ways to better serve each other, we can boil the whole concept of good service down to several factors:
Creativity. This is where you can discover the service artist in yourself. What is it about your product or service that gives your own custom signature and style of doing business.
Attention to detail. Here, in what appears to be the smallest of matters in a transaction, we see where the true Masters of Service really shine. What happens, is that by carefully thinking out every step and stage of the experience of working with the customer, and making sure that each stage runs smoothly, the entire experience is raised in the level of service that the client experiences.
Acknowledging others. Learning how to address your clientele, and making sure that they understand that you are aware of their presence and quickly respond to their needs makes the customer secure and happy.
Knowing your clients. Building personal relationships creates longevity and loyalty in a customer base.
Planning for success. Structuring and designing the experience your clients are going to participate in requires careful attention and a blue print for the direction of how your customers will be treated.
Putting other needs above our own. Sacrificing or giving yourself up to your client is a great act. Putting them above yourself in regard to giving them the necessary time, attention, and service, even when you have other things to do.
Learning to listen to the customer. Remembering that body language communicates a lot more then what we can verbally. Understanding how to listen and observe a customer so that you can read between the lines and take care of their concerns.
Consistency and discipline of routine. Clients come back to a business because they are attempting to return to the same positive experience that they had during a previous exchange.
Being aware of the big picture. Almost like a pilot who is flying a jumbo jet, you have to be aware of the big picture of what is going on, where you are at in the process, what are the prevailing weather conditions, and constantly in communication with the passengers.
Follow up. Reaching out to the customer after the close of the transaction. This sets a service provider above the rest of the competition
Kirk Mulhearn, a Long Beach Real Estate Broker co-manages Prudential California Realty, "The Bixby Knolls Office," and a Net Branch of, GEM Mortgage, a direct lender specializing in FHA, VA, and Conventional financing. Contact him at: 562-989-4608 ext. 110
Subscribe to this site at: www.longbeachrealestateandloans.com
Long Beach, Ca. Just the idea of a physical road block may conjure up frustration and lost time on the road to where you are going in life. But I would like to point out that within every roadblock that you may be facing, that there are probably some good reasons for them and that there are strategies on how to deal with them in your lives.
Roadblocks, in the physical sense, are often built by authorities, civil servants, to protect the traveler from unseen dangers. If the traffic was allowed to pass through unhindered, there may be a tragic accident resulting from unseen road conditions ahead.
So, as much as you may want to proceed, we need to figure out what is really in your best interests. It is more likely that a roadblock can be a good thing; that is, a signpost to adjust your aim, to rethink and reassess your plans, to slow down, an to reconfigure your approach.
Roadblocks are like loud neon signs that say, "Danger, caution, do not approach this way," and further evidence that life does not unfold perfectly into every whim that you may have. That true success comes from reinventing an idea over and over again until the idea is perfected. Because there is no true perfection in this world, we are faced with ever changing conditions which must be adapted to in order to survive and prosper. Learning about life means learning about the road conditions that we face on it. Having knowledge about what obstacles are on the road will make us more knowledgeable drivers and better pilots.
Roadblocks come in many varieties. For example, small business not being able to get a business loan from a bank. This is very evident in the current market dynamics. Everyone who actually needs a loan can't seem to get it. So, the traditional approach of going to a bank for a business loan has to be re-analyzed.
What are the options that a small business has in lieu of the traditional bank loan? Carefully delineate what all your options are. Instead, consider raising capital from private sources instead. There are many types of private investors. The market itself will dictate whether or not your business plan is worthy to be financed. You might check out local venture capital firms, or investment clubs. Be prepared to pay higher interest rates and even to give up part of your ownership in order to get your dream off the ground.
The whole process is part of living. The roadblock is pointing you to another direction. Find the right way and have fun getting there!
Kirk Mulhearn, a Long Beach Real Estate Broker co-manages Prudential California Realty, "The Bixby Knolls Office," and a Net Branch of, GEM Mortgage, a direct lender specializing in FHA, VA, and Conventional financing. Contact him at: 562-989-4608 ext. 110
Subscribe to this site at: www.longbeachrealestateandloans.com
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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