Tuesday, November 18, 2008
Shawn Barklow Joins BNA
Business Network Associates is delighted to announce that Shawn Barklow, an independent distributor for Sent Out Cards, has joined the organization. Shawn's business is helping other business people and individuals easily and efficiently stay in touch with their prospects, suspects and clients. His is a fascinating business that exploits the PC desktop to send greeting cards, and is a good fit for this network of entrepreneurs and service providers geared toward high net-worth clients. We welcome Shawn to BNA!
Wednesday, September 10, 2008
BNA WELCOMES 3 NEW MEMBERS
Business Network Associates wishes to welcome three new members aboard this fast growing networking organization.
They are (in alphabetical order): Sherrie Herrick, Derek Pierce, and David Truitt.
Sherrie and her husband operate Herrick Custom Furniture in Plain City, Ohio. "Made to order and out-of-the ordinary" is Herrick's claim to fame. As Sherrie puts it, "we build furniture you will remember."
Derek Pierce is president of Greater Columbus Life & Health Solutions, a provider of innovative life and health insurance programs. As an independent agent, Derek's specialty is tailoring insurance solutions that fits his clients' needs, rather than pushing a one-size-fits all agenda.
David Truitt is a residential real estate agent with Coldwell Banker King Thompson. He has earned the reputation as a negotiation specialist in the residential market, and thoroughly understands the complexities of today's housing market.
We welcome Sherrie, Derek and David to the BNA family!
They are (in alphabetical order): Sherrie Herrick, Derek Pierce, and David Truitt.
Sherrie and her husband operate Herrick Custom Furniture in Plain City, Ohio. "Made to order and out-of-the ordinary" is Herrick's claim to fame. As Sherrie puts it, "we build furniture you will remember."
Derek Pierce is president of Greater Columbus Life & Health Solutions, a provider of innovative life and health insurance programs. As an independent agent, Derek's specialty is tailoring insurance solutions that fits his clients' needs, rather than pushing a one-size-fits all agenda.
David Truitt is a residential real estate agent with Coldwell Banker King Thompson. He has earned the reputation as a negotiation specialist in the residential market, and thoroughly understands the complexities of today's housing market.
We welcome Sherrie, Derek and David to the BNA family!
Thursday, August 28, 2008
COMMERCIAL/INVESTMENT REAL ESTATE: 'Group Investing' Alleviates Anxiety
By Brent Greer
There are many fallacies about getting into commercial/investment real estate as an investor. Sadly, too many people don't use their brain, but worry about tiny little things and that keeps them out of the market. I like professional financial advisers. They usually understand the intricacies of utilizing investment real estate to build wealth, and the myriad of tax benefits that accompany income. But increasingly, I find that people will say they need to consult their financial advisers, and it is their uncle, or a neighbor, or a long-time (and now retired) stockbroker friend.
Listening to the news, one would think that the market is in the toilet and that a one-and-a-half percent passbook savings account is the way to go to keep your money safe. It is anything but that. Remember, it is the residential market that is having difficulties. People buying and selling homes in which to live. If you are a buyer, however, it is your market. Don't like the terms on this house? Pick another one down the street. You might get a better deal.
With investment real estate, it's all about the numbers. If the deal doesn't work financially, you go on to the next opportunity. And there are tons of opportunities today.
One of the possibilities is group investing. This is where a number of people go in together on a property. While there isn't a lot of risk in a good, income-producing property, when people buy something as a group the perception is that whatever risk there was has just diminished exponentially.
Here are some of the excuses people will use to block their ability to succeed:
I don't have enough money I don't have the know how I don't know where to start What if I buy the wrong property What if my timing is wrong What if prices go down What if I make a mistake; people will think I'm foolish What if I can't get a loan What if this is a bad location
Here is why people buy interests in real estate:
To gain net spendable cash flow To take advantage of favorable tax laws to real estate To acquire equity through leverage To hedge against inflation To profit from appreciation To put existing capital to work To achieve overall higher investment yield To avoid the management burden To avoid signing a large mortgage note To purchase without a credit report or bank financing
With group investing, everyone puts in some cash at the beginning -- often from existing equity in their homes (dead equity), or self-directed IRAs. But not out of pocket, meaning not from the weekly or monthly checking account. The property can be paid for up front, or over a period of two to three years. Either way, cash flow begins immediately. Add in appreciation, cost recovery (depreciation) and avoidance of capital gains when the property is sold later on (utilizing an IRS 1031 tax deferred exchange) and you have the makings of a solid investment that will build wealth.
I have written many times before, if you want to put a few extra dollars in your pocket, go the "flipping route," dangerous as it is. If you want to build wealth, you buy and hold real estate for investment.
Brent Greer is an investment specialist in Columbus, Ohio with Prudential CRES Commercial Real Estate. Brent represents buyers and sellers of income-producing properties, particularly multi-family, land and office, and consults on IRS 1031 tax-deferred exchanges. Email: bgreer@prudentialcrescolumbus.com
There are many fallacies about getting into commercial/investment real estate as an investor. Sadly, too many people don't use their brain, but worry about tiny little things and that keeps them out of the market. I like professional financial advisers. They usually understand the intricacies of utilizing investment real estate to build wealth, and the myriad of tax benefits that accompany income. But increasingly, I find that people will say they need to consult their financial advisers, and it is their uncle, or a neighbor, or a long-time (and now retired) stockbroker friend.
Listening to the news, one would think that the market is in the toilet and that a one-and-a-half percent passbook savings account is the way to go to keep your money safe. It is anything but that. Remember, it is the residential market that is having difficulties. People buying and selling homes in which to live. If you are a buyer, however, it is your market. Don't like the terms on this house? Pick another one down the street. You might get a better deal.
With investment real estate, it's all about the numbers. If the deal doesn't work financially, you go on to the next opportunity. And there are tons of opportunities today.
One of the possibilities is group investing. This is where a number of people go in together on a property. While there isn't a lot of risk in a good, income-producing property, when people buy something as a group the perception is that whatever risk there was has just diminished exponentially.
Here are some of the excuses people will use to block their ability to succeed:
I don't have enough money I don't have the know how I don't know where to start What if I buy the wrong property What if my timing is wrong What if prices go down What if I make a mistake; people will think I'm foolish What if I can't get a loan What if this is a bad location
Here is why people buy interests in real estate:
To gain net spendable cash flow To take advantage of favorable tax laws to real estate To acquire equity through leverage To hedge against inflation To profit from appreciation To put existing capital to work To achieve overall higher investment yield To avoid the management burden To avoid signing a large mortgage note To purchase without a credit report or bank financing
With group investing, everyone puts in some cash at the beginning -- often from existing equity in their homes (dead equity), or self-directed IRAs. But not out of pocket, meaning not from the weekly or monthly checking account. The property can be paid for up front, or over a period of two to three years. Either way, cash flow begins immediately. Add in appreciation, cost recovery (depreciation) and avoidance of capital gains when the property is sold later on (utilizing an IRS 1031 tax deferred exchange) and you have the makings of a solid investment that will build wealth.
I have written many times before, if you want to put a few extra dollars in your pocket, go the "flipping route," dangerous as it is. If you want to build wealth, you buy and hold real estate for investment.
Brent Greer is an investment specialist in Columbus, Ohio with Prudential CRES Commercial Real Estate. Brent represents buyers and sellers of income-producing properties, particularly multi-family, land and office, and consults on IRS 1031 tax-deferred exchanges. Email: bgreer@prudentialcrescolumbus.com
Sunday, February 3, 2008
TRAVEL -- 10 Myths About Travel Agents
By Mary Stephan
1. Myth: All Travel Agents and Agencies are the Same. Fact: Every travel agent is different and has a different area that they specialize in. So, depending on what type of trip you are looking to take one travel agent will suit you better than another. That’s why it is important when planning a trip to find a travel agent that specializes in where you want to go.
2. Myth: No One Uses Travel Agents Anymore. Fact: Travel agents still sell 51 percent of all airline tickets, 87 percent of all cruises, 81 percent of all tours and packages, 45 percent of all car rentals and about 47 percent of all hotels.*
3. Myth: Travel Agents are Trying to Cheat Me if They Don’t Quote Me the Cheapest Price. Fact: Travel agents know the ins and outs of different itineraries. While you might find one that is a little bit cheaper, that cheaper itinerary might involve a whole slew of headaches. For example, longer waits at the airport and odd travel times. A travel agent will be looking to get you the best value for you money spent which should include the most direct and time friendly itinerary they can find. – Unless you have told them you would prefer to have the cheaper options presented as well expect value to be a factor included in the trip they plan.
4. Myth: It is Expensive to Use a Travel Agent. Fact: The fee a travel agent charges really depends upon the agent. While some of the more luxury agencies have higher fees, the average fee is quite marginal. Some travel agents will even drop the fee or offer a discount once you have finalized your trip with them. Plus, you can always ask an agent upfront what their fees are and decide for yourself if it’s worth it. Also, it is important to remember that a lot of online booking sites, such as Orbitz and Expedia, charge a booking fee as well.
5. Myth: I Can Easily Book the Same Trip on My Own Without Using A Travel Agent. Fact: Although travel agents have access to all of the same outlets you would use when looking to book travel, they also have access to exclusive pricing and package deals that are most times not available to the public. Your travel agent also has more leverage in helping out in situations such as hotels claiming to be booked, when in fact they may still have rooms available that are on hold for travel agents reservations. So when everyone else is telling you “No” your travel agent can help turn that to a “Yes.”
6. Myth: Travel Agents Don’t Have Information as Updated as the Internet. Fact: Travel agents obtain some of their information from the same sources as online booking sites such as Orbitz and Travelocity. They also receive daily emails and faxes with new specials from resorts and hotels that may not be published on the internet. Travel agents can also call a place directly to see if they can work out other kinds of special deals for you, something an online site can’t do.
7. Myth: Travel Agents Are a Waste of Time. Fact: Although you can find much of the same information that the travel agent provides for you on your own, you are going to spend a lot of valuable time doing so. A travel agent can actually save you from hours of painful research and price comparison shopping. They have up to date prices, hotel conditions, and interesting new activities. Their prior knowledge and experience gives them the upper hand in trip planning.
8. Myth: Travel Agents Have Lost Their Clout. Fact: Travel agents book hotels, cruises, and activities every day. The companies that provide these services know that and want their business and will work to keep that business coming back. So while a place might be telling you “Sorry we are booked,” for your one time trip, they are more likely to make an acceptation for the travel agent to insure that the agent sends them more business in the future.
9. Myth: Good Travel Agents are Hard to Find. Fact: While there are some below par travel agents out there, sources such as Tripology are great outlets to go to find reliable specialized travel agents that will match your needs.
10. Myth: Travel Agents Can Only Book My Flight and Hotel. Fact: Travel agents can arrange car service, personalized tours and activities, in addition to all the basic travel services they provide. They are also excellent sources of information concerning good restaurants, good sites to see, and tips on what to pack.
Mary Stephan is principal of Allons Travel in Powell, Ohio. She may be reached by emailing: mbs@columbus.rr.com, or calling 614/562-3157.
1. Myth: All Travel Agents and Agencies are the Same. Fact: Every travel agent is different and has a different area that they specialize in. So, depending on what type of trip you are looking to take one travel agent will suit you better than another. That’s why it is important when planning a trip to find a travel agent that specializes in where you want to go.
2. Myth: No One Uses Travel Agents Anymore. Fact: Travel agents still sell 51 percent of all airline tickets, 87 percent of all cruises, 81 percent of all tours and packages, 45 percent of all car rentals and about 47 percent of all hotels.*
3. Myth: Travel Agents are Trying to Cheat Me if They Don’t Quote Me the Cheapest Price. Fact: Travel agents know the ins and outs of different itineraries. While you might find one that is a little bit cheaper, that cheaper itinerary might involve a whole slew of headaches. For example, longer waits at the airport and odd travel times. A travel agent will be looking to get you the best value for you money spent which should include the most direct and time friendly itinerary they can find. – Unless you have told them you would prefer to have the cheaper options presented as well expect value to be a factor included in the trip they plan.
4. Myth: It is Expensive to Use a Travel Agent. Fact: The fee a travel agent charges really depends upon the agent. While some of the more luxury agencies have higher fees, the average fee is quite marginal. Some travel agents will even drop the fee or offer a discount once you have finalized your trip with them. Plus, you can always ask an agent upfront what their fees are and decide for yourself if it’s worth it. Also, it is important to remember that a lot of online booking sites, such as Orbitz and Expedia, charge a booking fee as well.
5. Myth: I Can Easily Book the Same Trip on My Own Without Using A Travel Agent. Fact: Although travel agents have access to all of the same outlets you would use when looking to book travel, they also have access to exclusive pricing and package deals that are most times not available to the public. Your travel agent also has more leverage in helping out in situations such as hotels claiming to be booked, when in fact they may still have rooms available that are on hold for travel agents reservations. So when everyone else is telling you “No” your travel agent can help turn that to a “Yes.”
6. Myth: Travel Agents Don’t Have Information as Updated as the Internet. Fact: Travel agents obtain some of their information from the same sources as online booking sites such as Orbitz and Travelocity. They also receive daily emails and faxes with new specials from resorts and hotels that may not be published on the internet. Travel agents can also call a place directly to see if they can work out other kinds of special deals for you, something an online site can’t do.
7. Myth: Travel Agents Are a Waste of Time. Fact: Although you can find much of the same information that the travel agent provides for you on your own, you are going to spend a lot of valuable time doing so. A travel agent can actually save you from hours of painful research and price comparison shopping. They have up to date prices, hotel conditions, and interesting new activities. Their prior knowledge and experience gives them the upper hand in trip planning.
8. Myth: Travel Agents Have Lost Their Clout. Fact: Travel agents book hotels, cruises, and activities every day. The companies that provide these services know that and want their business and will work to keep that business coming back. So while a place might be telling you “Sorry we are booked,” for your one time trip, they are more likely to make an acceptation for the travel agent to insure that the agent sends them more business in the future.
9. Myth: Good Travel Agents are Hard to Find. Fact: While there are some below par travel agents out there, sources such as Tripology are great outlets to go to find reliable specialized travel agents that will match your needs.
10. Myth: Travel Agents Can Only Book My Flight and Hotel. Fact: Travel agents can arrange car service, personalized tours and activities, in addition to all the basic travel services they provide. They are also excellent sources of information concerning good restaurants, good sites to see, and tips on what to pack.
Mary Stephan is principal of Allons Travel in Powell, Ohio. She may be reached by emailing: mbs@columbus.rr.com, or calling 614/562-3157.
Friday, January 18, 2008
COMMERCIAL REAL ESTATE -- Greer Elected President of Exchangors Organization
Brent Greer, BNA's commercial/investment real estate representative, has been elected president of a regional group of brokers and agents specializing in IRS 1031 tax deferred real estate exchanges. Brent, an investment specialist with Prudential CRES Commercial Real Estate, will head Columbus Real Estate Exchangors (CREE), a 130-member organization of Ohio exchange counselors and wealth advisers, for the 2008 business year.
There is a write-up about Mr. Greer's election and business philosophy on his Ohio Investments online journal.
Brent Greer is an investment specialist in Columbus, Ohio with Prudential CRES Commercial Real Estate. Brent represents buyers and sellers of income-producing properties, particularly multi-family, land and office, and consults on IRS 1031 tax-deferred exchanges. Email: bgreer@prudentialcrescolumbus.com
There is a write-up about Mr. Greer's election and business philosophy on his Ohio Investments online journal.
Brent Greer is an investment specialist in Columbus, Ohio with Prudential CRES Commercial Real Estate. Brent represents buyers and sellers of income-producing properties, particularly multi-family, land and office, and consults on IRS 1031 tax-deferred exchanges. Email: bgreer@prudentialcrescolumbus.com
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