Business Network Associates, which meets weekly in Dublin, Ohio, is looking for business professionals to join our networking organization. We are seeking individuals from all types of professional areas. Currently, our roster consists of: travel consultant, financial planner/adviser, commercial realtor, residential realtor, title company professional, home mortgage broker, certified public accountant, commercial banker and an information technology services consultant. If you are an attorney, printer, auto salesperson, builder/remodeler, in auto salesperson, architect, or from just about any profession, we'd love to hear from you!
Feel free to drop by our weekly meeting on Mondays at noon, and see for yourself. We meet at the Dublin Retirement Center, Post Road (1/4 mile west of Avery-Muirfield Drive) in Dublin, Ohio. Take the elevator in the lobby to the second floor, and turn left into the conference center/lounge.
Wednesday, June 20, 2007
Wednesday, June 6, 2007
COMMERCIAL REAL ESTATE -- Ohio Lawmakers Ready To Tinker With 9-Month Old Property Registration Law
By Brent Greer
For owners of residential investment property in Ohio (one unit or more), get ready -- state lawmakers are getting ready to noodle around with the newly enacted "property owner/contact" registration process.
Originally a statewide answer to widely varying registration schemes in cities large and small around the Buckeye State, the registration "standard" now is apparently causing problems. And state lawmakers are going to see what they can do to make everyone happier. The issue is that smaller counties, which had no registration process at all, or had small towns with their own registration programs, are now responsible for the process and view the mandatory registration of contact information for residential property owners as an unfunded mandate. Which, technically, it is.
County auditors offices in the state's poorer counties are concerned about the extra requirements being assigned to them. The registration idea was born in Ohio's urban markets, where city and county officials were having trouble tracking down absentee landlords who skipped on taxes or neglected their properties. The thinking is that some counties might have the option to enforce the state law. THAT will be an interesting fight!
Stay tuned . . .
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
For owners of residential investment property in Ohio (one unit or more), get ready -- state lawmakers are getting ready to noodle around with the newly enacted "property owner/contact" registration process.
Originally a statewide answer to widely varying registration schemes in cities large and small around the Buckeye State, the registration "standard" now is apparently causing problems. And state lawmakers are going to see what they can do to make everyone happier. The issue is that smaller counties, which had no registration process at all, or had small towns with their own registration programs, are now responsible for the process and view the mandatory registration of contact information for residential property owners as an unfunded mandate. Which, technically, it is.
County auditors offices in the state's poorer counties are concerned about the extra requirements being assigned to them. The registration idea was born in Ohio's urban markets, where city and county officials were having trouble tracking down absentee landlords who skipped on taxes or neglected their properties. The thinking is that some counties might have the option to enforce the state law. THAT will be an interesting fight!
Stay tuned . . .
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
Wednesday, May 16, 2007
IT -- From Fishing To Phishing, Goal Is Same - Hook Something!
By Jeff Slack
Phishing. When I was growing up, I would have told you the word was spelled wrong. Fishing was done with a pole, line, a hook and bait. The idea was to relax in the outdoors and possibly obtain a tasty meal. Often, the bait was an innocent worm -- which has also taken on a nefarious definition -- will be discussed at another time.
Today, the term "Phishing" is defined by Wikpedia as "the act of sending an e-mail to a user, falsely claiming to be an established, legitimate enterprise in an attempt to scam the user into surrendering private information that will be used for identity theft." It's the same idea . . . Uncrupullous individuals are fishing for your personal data. E-mail, however, isn't the only media used by phishers. Since their purpose is to obtain (i.e. -- steal) personal information on people for identity theft, they will try any method -- including going through your garbage. This isn't a highly technological method to use but it works for them. In fact, attorney general from several states have come across evidence in identity theft investigations that people in this country illegally -- working under the radar -- are being used to literally piece and tape together sheets of personal information that people tear once or twice and carelessly toss into the traash.
Other phishing methods used are conventional telephones (pre-recorded messages that tell you you've won something and ask for personal data to transfer your winnings) and postal mail.
The best defense against the phishers is to constantly be way of even the most innocent sounding scams, and careful in every way not to let anyone unknown have your personal information. When using the internet, each one of us needs to be sure of who we release information to -- either in email, instant messaging or the web sites we visit. Above all, find a way to verify that the recipient to whom you are sending information is indeed who you think they are. The scammers, unfortunately, are very good.
Be careful out there!!!
Jeff Slack is president of Amaxx Inc., a full service information technology and telephony solutions provider, headquartered in Dublin, Ohio. Email: jslack@amaxx.com.
Phishing. When I was growing up, I would have told you the word was spelled wrong. Fishing was done with a pole, line, a hook and bait. The idea was to relax in the outdoors and possibly obtain a tasty meal. Often, the bait was an innocent worm -- which has also taken on a nefarious definition -- will be discussed at another time.
Today, the term "Phishing" is defined by Wikpedia as "the act of sending an e-mail to a user, falsely claiming to be an established, legitimate enterprise in an attempt to scam the user into surrendering private information that will be used for identity theft." It's the same idea . . . Uncrupullous individuals are fishing for your personal data. E-mail, however, isn't the only media used by phishers. Since their purpose is to obtain (i.e. -- steal) personal information on people for identity theft, they will try any method -- including going through your garbage. This isn't a highly technological method to use but it works for them. In fact, attorney general from several states have come across evidence in identity theft investigations that people in this country illegally -- working under the radar -- are being used to literally piece and tape together sheets of personal information that people tear once or twice and carelessly toss into the traash.
Other phishing methods used are conventional telephones (pre-recorded messages that tell you you've won something and ask for personal data to transfer your winnings) and postal mail.
The best defense against the phishers is to constantly be way of even the most innocent sounding scams, and careful in every way not to let anyone unknown have your personal information. When using the internet, each one of us needs to be sure of who we release information to -- either in email, instant messaging or the web sites we visit. Above all, find a way to verify that the recipient to whom you are sending information is indeed who you think they are. The scammers, unfortunately, are very good.
Be careful out there!!!
Jeff Slack is president of Amaxx Inc., a full service information technology and telephony solutions provider, headquartered in Dublin, Ohio. Email: jslack@amaxx.com.
Tuesday, May 15, 2007
TRAVEL -- European Cruising Explodes
By Mary Stephan
While Caribbean Cruise sales are flat, European cruising is experiencing an unprecedented growth. Bob Dickinson, CEO and President of Carnival has declared, The Mediterranean is the New Caribbean."
Why has European cruising taken off and the Caribbean flat lined? Analysts say there are several reasons:
New ships and new itineraries. Once upon a time European ships were old and dated. Yesteryears work horses. Both Carnival and Royal Caribbean have introduced new, sleek and modern ships with the amenities guests demand. Other lines such as Disney are re-positioning ships in the Mediterranean and making European cruising family friendly.
Many ships sailing a longer European season, from March through November.
Infrastructure upgrades. Again, Carnival and Royal Caribbean lead the way in infrastructure and port upgrades.
With the dollar to Euro exchange rate, cruising is a good value. Cruises are paid in American dollars and include lodging, meals and transportation. A similar land based vacation in Europe can cost twice the amount as a cruise.
Convenience, familiarity. The ability to travel with no packing and unpacking. English is spoken on board. Familiar food and customs.
Family Friendly. With more and more families vacationing, cruising is very family friendly. Onboard activities for kids and teens make this a great option for families.
Mary Stephan is a travel consultant with TravelEscapes in Westerville, Ohio. Email: mbs@columbus.rr.com
While Caribbean Cruise sales are flat, European cruising is experiencing an unprecedented growth. Bob Dickinson, CEO and President of Carnival has declared, The Mediterranean is the New Caribbean."
Why has European cruising taken off and the Caribbean flat lined? Analysts say there are several reasons:
New ships and new itineraries. Once upon a time European ships were old and dated. Yesteryears work horses. Both Carnival and Royal Caribbean have introduced new, sleek and modern ships with the amenities guests demand. Other lines such as Disney are re-positioning ships in the Mediterranean and making European cruising family friendly.
Many ships sailing a longer European season, from March through November.
Infrastructure upgrades. Again, Carnival and Royal Caribbean lead the way in infrastructure and port upgrades.
With the dollar to Euro exchange rate, cruising is a good value. Cruises are paid in American dollars and include lodging, meals and transportation. A similar land based vacation in Europe can cost twice the amount as a cruise.
Convenience, familiarity. The ability to travel with no packing and unpacking. English is spoken on board. Familiar food and customs.
Family Friendly. With more and more families vacationing, cruising is very family friendly. Onboard activities for kids and teens make this a great option for families.
Mary Stephan is a travel consultant with TravelEscapes in Westerville, Ohio. Email: mbs@columbus.rr.com
Tuesday, May 8, 2007
COMMERCIAL REAL ESTATE -- Leverage Or Pay All Cash?
By Brent Greer
Prudential CRES Commercial Real Estate
Recently, I received a number of emails from readers asking about debt. The consensus was that utilizing debt to purchase property (borrowing from a lender) isn't a hard-fast rule, its more a choice. I would agree. The words I use with my clients are "comfort level." It all depends on your comfort level. There is nothing wrong with purchasing investment property TO HOLD by paying all cash -- if you can swing it. You will still have the benefits of income, appreciation, depreciation and expense deduction. You just won't be able to leverage -- utilizing a lender's money, and you are tying up a large amount of personal capital.
One thing that amazes me in this ongoing discussion about debt taking place in our nation and around the water-cooler each day is how people will shudder at the thought of utilizing debt to purchase investment property. Yet they don't blink an eye at their consumer debt to buy "pretty things" that provide no income. And it is these impulse purchases on debt that is getting people into trouble, as they pile more and more charges onto their credit cards.
Leveraging a lender's money to purchase investment property is a smart approach. But ultimately, it is a personal choice.
It all comes down to each and every buyer's comfort level.
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
Prudential CRES Commercial Real Estate
Recently, I received a number of emails from readers asking about debt. The consensus was that utilizing debt to purchase property (borrowing from a lender) isn't a hard-fast rule, its more a choice. I would agree. The words I use with my clients are "comfort level." It all depends on your comfort level. There is nothing wrong with purchasing investment property TO HOLD by paying all cash -- if you can swing it. You will still have the benefits of income, appreciation, depreciation and expense deduction. You just won't be able to leverage -- utilizing a lender's money, and you are tying up a large amount of personal capital.
One thing that amazes me in this ongoing discussion about debt taking place in our nation and around the water-cooler each day is how people will shudder at the thought of utilizing debt to purchase investment property. Yet they don't blink an eye at their consumer debt to buy "pretty things" that provide no income. And it is these impulse purchases on debt that is getting people into trouble, as they pile more and more charges onto their credit cards.
Leveraging a lender's money to purchase investment property is a smart approach. But ultimately, it is a personal choice.
It all comes down to each and every buyer's comfort level.
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
Wednesday, March 28, 2007
RESIDENTIAL LENDING/MORTGAGES -- What's Happening in Finance
By Eric Holmes
American Home Mortgage
A lot is happening in the residential lending business. And world money market trends impact all of our personal finances. I have put together some snippets of financial news -- serious and thought-provoking -- for your review.
1. STOCK PERFORMANCE - The S&P 500 has gained +72% (total return) in the four years since the Iraq war began in the early hours of March 20, 2003 -- an average annual return of +14.6% (source: BTN Research).
2. BACK TO A NEW HIGH - In the first 8 bear markets which produced at least a 20% decline in the S&P 500 in the last half century (1957-2007), the stock market eventually recovered 100% of the loss sustained, i.e., going above the previous bull market high. The average time the stock market took to recover back to a new closing high from the low point in the downturn was 19 months. The longest time it took to reach a new high was 69 ½ months following the end of the 1973-74 market drop. As of today, it has been 53 months since the low point from the 2000-02 bear market (i.e., the 9th bear market since 1957) and the stock market has not advanced back to the previous bull market high of 1527 from March 24, 2000 (source: BTN Research).
3. IT’S BACK - The Chinese Shanghai stock index opened at 3041 on February 27, the day that ultimately resulted in an 8.8% decline, setting off losses worldwide. It closed March 21 at 3057 (source: BTN Research).
4. IMPACT OF INFLATION - $1 million dollars will pay out a fixed amount of $6,000 per month for 28 years and 7 months assuming the principal continues to earn six percent annually. If the $6,000 monthly payment is increased by + three percent each year to account for the impact of inflation, the original $1 million dollars will last 18 years and 2 months. The mathematical calculation ignores the ultimate impact of taxes on the account which are due upon withdrawal, are for illustrative purposes only and are not intended to reflect any specific investment or performance. Actual results will fluctuate with market conditions and results will vary (source: BTN Research).
5. DID NOTHING - The Fed’s # 2 meeting of 2007 ended with a no-change decision, the central bank’s 6th consecutive meeting resulting in maintenance of the status quo. The Fed has either raised or lowered interest rates at least 1 time in each of the previous 13 calendar years (source: Federal Reserve).
6. REAL ESTATE FALLOUT - Some sobering news . . . 13% of adjustable rate mortgages taken out during the past three calendar years (2004-06) are projected to ultimately end in foreclosure (source: First American CoreLogic, Wall Street Journal).
7. DOLLAR DATA - As the financial woes of the mortgage industry continue and concerns about the health of our economy heighten, the value of the dollar has slipped in world markets. As of last Wednesday’s close, the euro had increased (i.e., dollar had fallen) to $1.3381, its highest value since March 16, 2005. A falling dollar theoretically increases the cost of foreign imports but drops the cost of US exports being sold abroad (source: BTN Research).
8. DIFFERENT COUNTRIES - Over the past 16 calendar years (1991-2006), the average American home has appreciated +139%. By comparison, residential properties in Japan declined in value each year for 15 consecutive years (from 1991-2005) and then gained just +0.1% in 2006 (source: OFHEO, Wall Street Journal).
9. TAX TRIVIA - Based upon the 2004 tax year, individual returns with at least $100,000 of adjusted gross income make up 12% of all returns and paid 65% of all federal income tax (source: IRS).
10. SPOILED ROTTEN - Of the 946 billionaires in the world today, the youngest is a 23-year old German prince worth $2 billion who first made this exclusive list as an eight-year old (source: Forbes).
11. BIGGER THAN MOST - To rank in the top one percent of American households based upon net worth (including the value of a family’s primary residence) requires a net worth of $6 million or more (source: Federal Reserve, WSJ).
12. THE CHECK IS IN THE MAIL - An individual retiring in 2007 who is eligible for the maximum social security benefit will receive $2,116 per month or $25,392 per year (source: Social Security Administration).
13. UNION BENEFIT - In August 2005 Shaquille O’Neal signed a 5-year, $100 million contract (i.e., an average of $20 million per year, $54,800 per day) to play basketball for the Miami Heat through 2010. But the 35-year old center still receives $106 of cash each day that his team is on the road (as all NBA players do) to spend as he chooses as a result of the league’s collective bargaining agreement (source: NBA).
Eric Holmes is a sales manager and mortgage planner with American Home Mortgage in Westerville, Ohio. He provides his clients with honest answers and straight advice on residential mortgages. Visit Eric on the web at: www.americanhm.com/Eric.Holmes
American Home Mortgage
A lot is happening in the residential lending business. And world money market trends impact all of our personal finances. I have put together some snippets of financial news -- serious and thought-provoking -- for your review.
1. STOCK PERFORMANCE - The S&P 500 has gained +72% (total return) in the four years since the Iraq war began in the early hours of March 20, 2003 -- an average annual return of +14.6% (source: BTN Research).
2. BACK TO A NEW HIGH - In the first 8 bear markets which produced at least a 20% decline in the S&P 500 in the last half century (1957-2007), the stock market eventually recovered 100% of the loss sustained, i.e., going above the previous bull market high. The average time the stock market took to recover back to a new closing high from the low point in the downturn was 19 months. The longest time it took to reach a new high was 69 ½ months following the end of the 1973-74 market drop. As of today, it has been 53 months since the low point from the 2000-02 bear market (i.e., the 9th bear market since 1957) and the stock market has not advanced back to the previous bull market high of 1527 from March 24, 2000 (source: BTN Research).
3. IT’S BACK - The Chinese Shanghai stock index opened at 3041 on February 27, the day that ultimately resulted in an 8.8% decline, setting off losses worldwide. It closed March 21 at 3057 (source: BTN Research).
4. IMPACT OF INFLATION - $1 million dollars will pay out a fixed amount of $6,000 per month for 28 years and 7 months assuming the principal continues to earn six percent annually. If the $6,000 monthly payment is increased by + three percent each year to account for the impact of inflation, the original $1 million dollars will last 18 years and 2 months. The mathematical calculation ignores the ultimate impact of taxes on the account which are due upon withdrawal, are for illustrative purposes only and are not intended to reflect any specific investment or performance. Actual results will fluctuate with market conditions and results will vary (source: BTN Research).
5. DID NOTHING - The Fed’s # 2 meeting of 2007 ended with a no-change decision, the central bank’s 6th consecutive meeting resulting in maintenance of the status quo. The Fed has either raised or lowered interest rates at least 1 time in each of the previous 13 calendar years (source: Federal Reserve).
6. REAL ESTATE FALLOUT - Some sobering news . . . 13% of adjustable rate mortgages taken out during the past three calendar years (2004-06) are projected to ultimately end in foreclosure (source: First American CoreLogic, Wall Street Journal).
7. DOLLAR DATA - As the financial woes of the mortgage industry continue and concerns about the health of our economy heighten, the value of the dollar has slipped in world markets. As of last Wednesday’s close, the euro had increased (i.e., dollar had fallen) to $1.3381, its highest value since March 16, 2005. A falling dollar theoretically increases the cost of foreign imports but drops the cost of US exports being sold abroad (source: BTN Research).
8. DIFFERENT COUNTRIES - Over the past 16 calendar years (1991-2006), the average American home has appreciated +139%. By comparison, residential properties in Japan declined in value each year for 15 consecutive years (from 1991-2005) and then gained just +0.1% in 2006 (source: OFHEO, Wall Street Journal).
9. TAX TRIVIA - Based upon the 2004 tax year, individual returns with at least $100,000 of adjusted gross income make up 12% of all returns and paid 65% of all federal income tax (source: IRS).
10. SPOILED ROTTEN - Of the 946 billionaires in the world today, the youngest is a 23-year old German prince worth $2 billion who first made this exclusive list as an eight-year old (source: Forbes).
11. BIGGER THAN MOST - To rank in the top one percent of American households based upon net worth (including the value of a family’s primary residence) requires a net worth of $6 million or more (source: Federal Reserve, WSJ).
12. THE CHECK IS IN THE MAIL - An individual retiring in 2007 who is eligible for the maximum social security benefit will receive $2,116 per month or $25,392 per year (source: Social Security Administration).
13. UNION BENEFIT - In August 2005 Shaquille O’Neal signed a 5-year, $100 million contract (i.e., an average of $20 million per year, $54,800 per day) to play basketball for the Miami Heat through 2010. But the 35-year old center still receives $106 of cash each day that his team is on the road (as all NBA players do) to spend as he chooses as a result of the league’s collective bargaining agreement (source: NBA).
Eric Holmes is a sales manager and mortgage planner with American Home Mortgage in Westerville, Ohio. He provides his clients with honest answers and straight advice on residential mortgages. Visit Eric on the web at: www.americanhm.com/Eric.Holmes
Tuesday, March 27, 2007
TRAVEL -- Five Reasons to Visit Europe This Spring
By Mary Stephan
TravelEscapes
Spring is a great time to visit Europe. Lush green pastures, fields ablaze with a riotous explosion of color from poppies, tulips, crocuses. Pastel tree blossoms. Ahhh, Paris in the spring conjures images of romance and love. Even better, less expensive and less crowded.
So here are the top reasons you should visit Europe this spring.
1.) Cheap Airfare. $550-$750 per person as opposed to double that mid-summer. Midweek fares are even less.
2.) Hotel discounts and lots of availability. Top hotels are usually $150 and up in the spring, double that in summer.
3.) Bargain prices for rental cars.
4.) Less crowded museums, less waiting in line.
5.) Europeans are home, savoring the quiet, sipping cappuccino in cafes and restaurants. Enjoying their cities and towns before the summer onslaught of tourists. Art festivals and other events are abundant.
So there you have it. The best reasons to visit Europe this spring!
Mary Stephan is a travel consultant with TravelEscapes in Westerville, Ohio. Email: mbs@columbus.rr.com
TravelEscapes
Spring is a great time to visit Europe. Lush green pastures, fields ablaze with a riotous explosion of color from poppies, tulips, crocuses. Pastel tree blossoms. Ahhh, Paris in the spring conjures images of romance and love. Even better, less expensive and less crowded.
So here are the top reasons you should visit Europe this spring.
1.) Cheap Airfare. $550-$750 per person as opposed to double that mid-summer. Midweek fares are even less.
2.) Hotel discounts and lots of availability. Top hotels are usually $150 and up in the spring, double that in summer.
3.) Bargain prices for rental cars.
4.) Less crowded museums, less waiting in line.
5.) Europeans are home, savoring the quiet, sipping cappuccino in cafes and restaurants. Enjoying their cities and towns before the summer onslaught of tourists. Art festivals and other events are abundant.
So there you have it. The best reasons to visit Europe this spring!
Mary Stephan is a travel consultant with TravelEscapes in Westerville, Ohio. Email: mbs@columbus.rr.com
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