Access To Private Money http://accesstoprivatemoney.com Your Access to Private Money Investors, Private Money Lenders, and Private Money Mon, 13 Feb 2012 00:00:22 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 I need financial advice in this real estate transaction. What is the best thing to do? http://accesstoprivatemoney.com/i-need-financial-advice-in-this-real-estate-transaction-what-is-the-best-thing-to-do/ http://accesstoprivatemoney.com/i-need-financial-advice-in-this-real-estate-transaction-what-is-the-best-thing-to-do/#comments Mon, 13 Feb 2012 00:00:22 +0000 George Roberts http://accesstoprivatemoney.com/i-need-financial-advice-in-this-real-estate-transaction-what-is-the-best-thing-to-do/ Question by Nadia: I need financial advice in this real estate transaction. What is the best thing to do?
Here’s our story and we don’t know how to go about doing this. My husband and I own a rather large home in the country. We are on 3+ acres on beautiful property – most acreage in front. Our family is currently living on the main floor because we cannot afford to finish the upstairs level which is about 1200 sq ft. WE have gone 7 years without insulation upstairs and I really hoped we wouldn’t go another year doing this. Our electricity is quite high. Here’s my idea but I don’t know how to go about doing this:I would like to utilize one side upstairs as an apartment (600 sq ft). There’s actually a door leading to the outside so it has its own private entrance. How do I go about “finishing” it? We don’t have the funds to do this. We have already re-financed so there’s no money there. We claimed bankrupcty 5 yrs ago so we have no line of credit or any kind of credit. Are there investors out there who would finance something small like this OR could I advertise a “new apartment” for rent for $ 350 a month but the catch is that they would have to finish it. Rent for a 1 bedroom goes for about $ 650. We don’t care how long they stay (5 yrs maybe?) because OUR benefit would be not only keeping our electric bill at bay but adding value to our home. What would be your suggestion. I need some advice because I don’t want to go another year freezing our family out downstairs. We live in Canada. My husband is an electrician and is very handy (if this helps..). Please, what do we do??We do have a woodstove that helps heat. Unfortunately the back rooms don’t get it so we end up running individual heaters anyway…

Best answer:

Answer by Peilthetraveler
Spend 500 bucks on a fireplace and stop using electricity to heat your house. Then all the money you save on electric, use to finish the upstairs.Also…there is a fat chance that someone will actually do the work to finish it. They will take the cheap rent and then be lazy about finishing the house.In the United states we have something called a title 1 loan that will let you have 25,000 dollars to improve your home but it has to be paid to a licensed contractor. Good thing about that loan is that you dont have to have any equity in your home to get it….but you are in canada so i dont know if thats available to you or not….good luck anyway.

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]]> http://accesstoprivatemoney.com/i-need-financial-advice-in-this-real-estate-transaction-what-is-the-best-thing-to-do/feed/ 0 Forming a Private Investment Fund? http://accesstoprivatemoney.com/forming-a-private-investment-fund-3/ http://accesstoprivatemoney.com/forming-a-private-investment-fund-3/#comments Sun, 12 Feb 2012 17:58:13 +0000 George Roberts http://accesstoprivatemoney.com/forming-a-private-investment-fund-3/ Question by Sam H.: Forming a Private Investment Fund?
Me and my partner are trying to set up a private investment fund where we will be trading money pooled from family and friends. Our first asset class will be trading options for generating higher returns. I know from reading this you assume it’s a very risky means of trading other people’s money, but through the implication of strategies with limited risk/reward spreads we will manage risk as effective as possible. My questions are, will a private investment fund be the best match for us? Are there any capital requirements on the funds part or the individual client to participate in such an asset class? And can this asset class be offered to our private investors (family and friends) and if so will an internal partnership agreement drafted by a lawyer be sufficient? Essentially is this a feasible idea considering we wont manage over $ 10,000 at the beginning?Thanks you!!

Best answer:

Answer by Spock (rhp)
with only 10k of capital, the trading fees will eat your venture alive.you’ll need an attorney with SEC experience. while a private partnership can be organized to accomplish this, it has to be done carefully or you’ll be in very hot water. [the deal if you do it wrong is that if the venture succeeds, no one will complain, but if it fails, any single complaint will end up forcing you to refund all the money lost from your personal resources -- heads, they win; tails, you lose].i expect that you’ll discover a good attorney won’t come cheap.

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]]> http://accesstoprivatemoney.com/forming-a-private-investment-fund-3/feed/ 1 I have to write a thesis and this is what I am planning on writing and I would like some feedback.? http://accesstoprivatemoney.com/i-have-to-write-a-thesis-and-this-is-what-i-am-planning-on-writing-and-i-would-like-some-feedback/ http://accesstoprivatemoney.com/i-have-to-write-a-thesis-and-this-is-what-i-am-planning-on-writing-and-i-would-like-some-feedback/#comments Sun, 12 Feb 2012 11:57:14 +0000 George Roberts http://accesstoprivatemoney.com/i-have-to-write-a-thesis-and-this-is-what-i-am-planning-on-writing-and-i-would-like-some-feedback/ Question by junglegrl44: I have to write a thesis and this is what I am planning on writing and I would like some feedback.?
Read and let me know what you think. Any improvements? Does it make sense?Financial statements in the United States are prepared in accordance to US Generally Accepted Accounting Principles (GAAP). In over 100 other countries including the European Union, Australia, Hong Kong and India, financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS). GAAP and IFRS have some key differences between them such as the basis of property, plant and equipment, method for determining inventory cost and extraordinary items. Companies outside of the United States that used IFRS and wanted to bring their business here faced problems because the United States required these companies to reconcile their financial statements to US GAAP. As a result, the earnings and stockholders’ equity of these companies were affected.To deal with the problem of reconciliation, on July 2, 2007, the Securities and Exchange Commission (SEC) released the proposal “Acceptance From Foreign Private Issuers of Financial Statements Prepared in Accordance with International Financial Reporting Standards Without Reconciliation to U.S. GAAP” (Release No. 33-8818). If the proposal was accepted, the SEC would recognize the financial statements of foreign companies that are prepared on the basis of the English language version of IFRS that are published by the International Accounting Standards Board (IASB) without having to reconcile to US GAAP. This proposal would not change the existing reconciliation requirements for foreign companies that file under different accounting standards that are not in full compliance with IFRS and IASB. On December 21, 2007, the SEC issued the final rules eliminating the reconciliation process for foreign companies using IFRS. In a response to the acceptance of the proposal, members of the American Accounting Assocaition believe that the passing of this proposal had to have been based on the premise that US GAAP and IFRS are informationally equivalent sets of accounting principles and that investors can construct comparable US GAAP based summaries from IFRS financial statements (Hopkins). Understanding the differences between US GAAP and IFRS, the reconciliation process and how to interpret the financial statements is important not only to foreign companies but also to American companies and their investors. Without having to reconcile their financial statements, foreign companies are able to save the time and money involved in the process and may be more willing to enter the US markets. The passing of the proposal by the SEC is important because of its ability to facilitate access to US capital markets by non-US companies which in turn could improve the consistency and readability of financial reporting for US investors who own foreign securities. Since I believe there will be an impact on all companies no matter what country they come from because of this proposal, I speculate that more foreign companies will be willing to enter the US market. Also, I believe that with the passing of the proposal, more US companies will push the SEC to allow them to prepare their financial statements in accordance with IFRS rather than GAAP. To prove myself right or wrong, I intend to study the differences in the two accounting standards more in depth to really understand them. I also intend to look into the process that companies had to go through when reconciling their financial statements. Since foreign companies no longer have to reconcile their financial statements, I would like to look at a couple of companies’ previous financial statements and see the differences between the non-reconciled ones and the reconciled ones. There are many articles in accounting literature that examine this proposal and I would like to go through them to see the different views accountants all over the United States have.

Best answer:

Answer by daspook19
Your historical explanation seems fine, but I’m not sure I follow your theory logic. Let’s I make widgets in Asia. Their is huge widget demand that is unfulfilled in the Untied States. You’re saying an accounting principal is going to drive my decision to enter the market? I’d come to the US and make a ton of money if it weren’t for GAAP and my inability to do my accounting in English? Or are you saying that more companies will be traded in the US? There is a difference. I’d rethink and or reword your last paragraph.

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]]> http://accesstoprivatemoney.com/i-have-to-write-a-thesis-and-this-is-what-i-am-planning-on-writing-and-i-would-like-some-feedback/feed/ 1 Which business idea should I start? http://accesstoprivatemoney.com/which-business-idea-should-i-start-2/ http://accesstoprivatemoney.com/which-business-idea-should-i-start-2/#comments Sun, 12 Feb 2012 05:57:17 +0000 George Roberts http://accesstoprivatemoney.com/which-business-idea-should-i-start-2/ Question by Baf F: Which business idea should I start?
Hello. I would like to become super rich someday. I have four business ideas that I think could be big hit. Some are new ideas, and some are just good opportunities. I have worked at a management consulting firm called McKinsey &Company for 5 years. I left the firm in hope to find job positions at a forunte 500, but I then wanted to start my own company.1. A boardroom facility business. In these times, many small businesses are starting. They are also mostly homebased. But what happens when a home based business needs a meeting to promote something, meet with the board, etc. Home based businesses simply cannot have professional meetings within their own home. Before launching the business, I would buy real estate in convenient locations. I would then build the center up with boardrooms, secretary services, offices, printers, fax machines, Internet, laptops, projectors, Catering services, and all business needs. Due to limited amount of space, businesses would book ahead. They would pay a fee depending on how long they use the facility. Startup costs could be 50k to sig figures, however, I have saved tons of money from being a management consultant, and I could get investors in on the startup. If the first center is a success, I could open up locations in other cities and eventually become a franchise. Good idea?2. I would start a consulting firm that consults website owners and online business owners of the quality of their online presence. We would advise small web based startups on what problems they should fix and how they should go about achieving success. I would most likely partner this business startup. We would hire consulting professionals who have experience in the web based industry.3. A website where people can buy and sell businesses. Currently, there are tons of sites that do this, but a seller of a business would pay a fee to post. Then they could sell there business. However, legal problems may cause an issue.4. I would start a venture capital/private equity firm that invests in early stage web startups.I have some experience instwrting business. When I was 22, I started a service called the love van. I bought a van, fixed it up. It was a van where people could use to make love in the back room. The van had privace, included wine, beds, condoms, etc. I would drive lovers all around town for hours. It was a cool business, but not too profitable. Which business idea should I pick? I like the board room space company the best..

Best answer:

Answer by cestmoi
Idea # 2 sounds like a winner to me. Best of luck to you!

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]]> http://accesstoprivatemoney.com/which-business-idea-should-i-start-2/feed/ 1 Which business idea should I start? http://accesstoprivatemoney.com/which-business-idea-should-i-start/ http://accesstoprivatemoney.com/which-business-idea-should-i-start/#comments Sat, 11 Feb 2012 23:57:46 +0000 George Roberts http://accesstoprivatemoney.com/which-business-idea-should-i-start/ Question by Baf F: Which business idea should I start?
Hello. I would like to become super rich someday. I have four business ideas that I think could be big hit. Some are new ideas, and some are just good opportunities. I have worked at a management consulting firm called McKinsey &Company for 5 years. I left the firm in hope to find job positions at a forunte 500, but I then wanted to start my own company.1. A boardroom facility business. In these times, many small businesses are starting. They are also mostly homebased. But what happens when a home based business needs a meeting to promote something, meet with the board, etc. Home based businesses simply cannot have professional meetings within their own home. Before launching the business, I would buy real estate in convenient locations. I would then build the center up with boardrooms, secretary services, offices, printers, fax machines, Internet, laptops, projectors, Catering services, and all business needs. Due to limited amount of space, businesses would book ahead. They would pay a fee depending on how long they use the facility. Startup costs could be 50k to sig figures, however, I have saved tons of money from being a management consultant, and I could get investors in on the startup. If the first center is a success, I could open up locations in other cities and eventually become a franchise. Good idea?2. I would start a consulting firm that consults website owners and online business owners of the quality of their online presence. We would advise small web based startups on what problems they should fix and how they should go about achieving success. I would most likely partner this business startup. We would hire consulting professionals who have experience in the web based industry.3. A website where people can buy and sell businesses. Currently, there are tons of sites that do this, but a seller of a business would pay a fee to post. Then they could sell there business. However, legal problems may cause an issue.4. I would start a venture capital/private equity firm that invests in early stage web startups.I have some experience instwrting business. When I was 22, I started a service called the love van. I bought a van, fixed it up. It was a van where people could use to make love in the back room. The van had privace, included wine, beds, condoms, etc. I would drive lovers all around town for hours. It was a cool business, but not too profitable. Which business idea should I pick? I like the board room space company the best..

Best answer:

Answer by Lionel1020
The board room idea is not bad, although I would be worried that you pay costs even for the down time.I would suggest you try to maximize the uses. When you have not got board meetings do wedding receptions, private parties, seminars, anything that will use all your facilities. This could go into weekend use as well.Do not get tied up in the side lines like catering and cleaning, sub it all out. Create an identity, a mark if you like so that your parties/ your place is recognized . If it works you are not tied up and you can open the second.50% of ten businesses is better than 100% of one!

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]]> http://accesstoprivatemoney.com/which-business-idea-should-i-start/feed/ 0 Question: I need to have a $25,000 Surgery, Will owning two homes with high equity help me to approve for this LOAN? http://accesstoprivatemoney.com/question-i-need-to-have-a-25000-surgery-will-owning-two-homes-with-high-equity-help-me-to-approve-for-this-loan/ http://accesstoprivatemoney.com/question-i-need-to-have-a-25000-surgery-will-owning-two-homes-with-high-equity-help-me-to-approve-for-this-loan/#comments Sat, 11 Feb 2012 17:58:34 +0000 George Roberts http://accesstoprivatemoney.com/question-i-need-to-have-a-25000-surgery-will-owning-two-homes-with-high-equity-help-me-to-approve-for-this-loan/ Question by ★ Vaginal Discount ★: I need to have a ,000 Surgery, Will owning two homes with high equity help me to approve for this LOAN?
I need $ 25K for a surgery that will be performed on myself this year. I am a private real estate investor so my pay fluctuates, however, I seem to do just fine. I just purchased a newer but used Honda Accord 3 months ago, put $ 7K Down, and owe about $ 10K more, and I own 2 homes, appraised at $ 115K A piece, and on each I have two hard money loans in the amount of $ 50K per property. The rest is just equity. I have both homes for sale, however, the market is dead.This is my situation. Would my assets help me to get a loan? I dont necessarily want to BORROW more on them… I am just wondering… what kind of a part it would play in getting myself a loan. Thanks : )PS: My Health Insurance wont cover a thing. Thanks : ]And my credit is about 625, however I could easily improve it

Best answer:

Answer by Hank
All depends on your credit score. As you may know, the banks could care less about “equity” as to them it involves you either selling it which in this market is not likely to happen quick and if it does it will be most likely below appraised or list price or it involves a possible refinance which means more debt. With a 625 score on investment property there are no programs to fit this anyway if you did want to leverage the properties. My concerns in getting a loan for the surgery would be qualifying on your credit score alone and make it better as quickly as possible. I have seen mine jump 100 points in a month before by paying down unsecured (credit cards) debt.

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]]> http://accesstoprivatemoney.com/question-i-need-to-have-a-25000-surgery-will-owning-two-homes-with-high-equity-help-me-to-approve-for-this-loan/feed/ 3 Should I buy Blackstone’s stock(BX) now? http://accesstoprivatemoney.com/should-i-buy-blackstones-stockbx-now/ http://accesstoprivatemoney.com/should-i-buy-blackstones-stockbx-now/#comments Sat, 11 Feb 2012 11:57:50 +0000 George Roberts http://accesstoprivatemoney.com/should-i-buy-blackstones-stockbx-now/ Question by Richard A: Should I buy Blackstone’s stock(BX) now?
Hello everyone. I’d appreciate it if I could get input from anyone who is very knowledgeable in stocks or is invested in the Blackstone Group. All my friend’s and their mothers who are investors are telling me that I should buy a lot of shares of BX right now at $ 7.99 a share. They told me that it IPO’d at $ 31 a share and that I would be very happy 5 years from now if I did. But if BX went from $ 31 a share to $ 7,99 a share, isn’t it in danger of the company going bankrupt? Everyone is telling me that BX is “Best of Breed” when it comes to private equity and that I shouldn’t worry about it. They told me that right now that BX is a once in a lifetime opportunity at this price and that within 10 years that it’s going to be a $ 100 stock. I don’t know though. I don’t want to just throw my money away. I’d appreciate input from those experienced investors that truly know. Thank you!

Best answer:

Answer by WealthKID.com
I don’t know about the future outlook, but from the change in regulations and hedge fund taxes Blackstone does not look like a good investment. I think it could go even lower. If I were you I would invest in Internet Real Estate. That is where the money is at, and especially in the future. The return on your money if you learn and pick correctly could make you far more money. Best Wishes,The Wealth Kidwww.WealthKID.comI Dont’ Mind Sharing!

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]]> http://accesstoprivatemoney.com/should-i-buy-blackstones-stockbx-now/feed/ 1 Q&A: If the mortgage on my home was paid off by the federal reserve why do I have to pay my mortgage? http://accesstoprivatemoney.com/qa-if-the-mortgage-on-my-home-was-paid-off-by-the-federal-reserve-why-do-i-have-to-pay-my-mortgage/ http://accesstoprivatemoney.com/qa-if-the-mortgage-on-my-home-was-paid-off-by-the-federal-reserve-why-do-i-have-to-pay-my-mortgage/#comments Sat, 11 Feb 2012 05:59:10 +0000 George Roberts http://accesstoprivatemoney.com/qa-if-the-mortgage-on-my-home-was-paid-off-by-the-federal-reserve-why-do-i-have-to-pay-my-mortgage/ Question by : If the mortgage on my home was paid off by the federal reserve why do I have to pay my mortgage?
If the mortgage on my home was paid off during the bailout wouldn’t it be fraudulent for the bank to say I still owe money? They’ve been paid Right! Therefore the investors should have also been paid off Right! If I pay private mortgage insurance and the bank collects their 80% of the loan shouldn’t I only owe the remaining balance? It would be fraudulent to say I owe the whole amount Right! After all that’s what insurance is for Right! Isn’t this why the Feds are forcing everyone to get insurance anyways, Right! If I break my leg and my insurance covers 80% I only owe 20% Right! I know insurance is just a scam in itself, they collect your money but don’t really like to pay and always look for reasons not too. Can the bank still foreclose on my house if they’ve already been paid? Or is this also fraud by getting paid twice for the same piece of paper?

Best answer:

Answer by Angry Bird
Mortgaged Backed SecuritiesInvestors out there own the mortgages.They want their money back.

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]]> http://accesstoprivatemoney.com/qa-if-the-mortgage-on-my-home-was-paid-off-by-the-federal-reserve-why-do-i-have-to-pay-my-mortgage/feed/ 5 how can I find some good investors? I got good opportunity to invest in land in Bulgaria, manuel12@onvol.net? http://accesstoprivatemoney.com/how-can-i-find-some-good-investors-i-got-good-opportunity-to-invest-in-land-in-bulgaria-manuel12onvol-net/ http://accesstoprivatemoney.com/how-can-i-find-some-good-investors-i-got-good-opportunity-to-invest-in-land-in-bulgaria-manuel12onvol-net/#comments Fri, 10 Feb 2012 23:57:16 +0000 George Roberts http://accesstoprivatemoney.com/how-can-i-find-some-good-investors-i-got-good-opportunity-to-invest-in-land-in-bulgaria-manuel12onvol-net/ Question by investmentbulgaria: how can I find some good investors? I got good opportunity to invest in land in Bulgaria, %6d%61%6e%75%65%6c%31%32%40%6f%6e%76%6f%6c%2e%6e%65%74?
Whether looking to invest as a private individual, as a syndicate group or as an institution, here is the perfect partner for you. We have wide experience and contacts both within the Bulgarian property market as well as the international investment community. By pinpointing high growth opportunities as well as only dealing with the largest and most stable developers, we can make your investment both highly profitable as well as lowering any associated risk. The most profitable form of investment is buying land near the Black Sea. This is the time to buy and you will benefit from excellent market growth. With the market looking to show growth of several hundred percent over the next few years it is advisable to contact us and we can discuss your investment. It is not important how much money you have to invest, from a few thousands you can have a chance to start business For more details mail us on %69%6e%76%65%73%74%6d%65%6e%74%62%75%6c%67%61%72%69%61%40%79%61%68%6f%6f%2e%63%6f%6d or call us on 0035699442953 21316383.

Best answer:

Answer by sunilnchassaram
I dont think so.

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]]> http://accesstoprivatemoney.com/how-can-i-find-some-good-investors-i-got-good-opportunity-to-invest-in-land-in-bulgaria-manuel12onvol-net/feed/ 0 development investment oppt in fasting growing county of Georgia? http://accesstoprivatemoney.com/development-investment-oppt-in-fasting-growing-county-of-georgia/ http://accesstoprivatemoney.com/development-investment-oppt-in-fasting-growing-county-of-georgia/#comments Fri, 10 Feb 2012 18:01:02 +0000 George Roberts http://accesstoprivatemoney.com/development-investment-oppt-in-fasting-growing-county-of-georgia/ Question by Brentwood Estates: development investment oppt in fasting growing county of Georgia?
Hi,I’m an owner of a recently recorded 29 lot private gated community in the best part of Forsyth Co Georgia. If you’re not familiar with Forsyth Co, here are a few facts:1) #1 fastest growing County in GA2) #2 best county in the country to live-in to get ahead3) #8 fastest growing county in the country4) #13 richest county in the countryThis is a great place to live and invest. The bank for our development note is pulling out of GA in a few months. This leaves us in a tough position of having a great investment where we know we can make money, but not having enough time to transition the loan to another bank before it matures.If you have the capitol or investment partners that would be interested in a $ 3+M investment, contact me. When we securited this loan with the original bank, the appraisal was returned at $ 4.5M. The opportunity awaits the smart investor who understands location is everything and this is the real deal.

Best answer:

Answer by bob shark
If this property was so good, and the developement so wonderful, you would have no problem getting bank financing.you know the bank you have isn’t moving…it is just “bailing” out of your project.

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