Amanda Hash
You already have a pension coming, although it is not time yet. Would not it be nice to enlarge it with a bit of imagination? Our plan is ideal for middle-aged homeowners who feel they have the energy and patience to play around with real estate, while earning a juicy income at the same time.
The Starting Point
The very beginning is your own home and a secure income. No way around that. Now, you look around and with all the time in the world in your hands and you find a nice-looking house. Take a 30-year mortgage, buy it and immediately rent it. The rent will approximately cover the cost of the mortgage. The whole thing about this is the longest term mortgage you can get, to keep the monthly payments low.
The Variations
There will be variations to this plan, since you have time to look around and shop for a good opportunity. Nobody is hurrying you. In this case, you can get a good price and take it while it is hot. You will need to have your mortgage pre-approved, so as to gain time, as usual. A better price, will even tip the scales in your favor, leaving some cash in your hand.
Variation 2
Variation two is to buy a piece of land and build a duplex or maybe even buy a duplex. There you will have two rents instead of one, with which to pay for the mortgage. Make sure insurance and taxes are considered as well within the mortgage, so you will have less worry and running around paying bills.
Get Accustomed To The Feeling
Now, hold on for a few months, until you feel comfortable with the new feeling and start getting ready for a second purchase. Remember you used the property you bought as collateral for the mortgage, but you have your own home free to use it as a security for the next mortgage, supposing you wanted to buy land and build. In a few months you would build equity enough to have one property free for the next mortgage.
The Whole Secret
The secret here is to get the rent to pay for the mortgage; that is why I am suggesting the long term 30-year mortgage loan. I have done the numbers and it works. So, if you do this say, twice a year, or three times, in ten years you could have a minimum of twenty properties working for you. After ten years, you will have between two and four properties at least, with one third paid for and you will still have your first property free of security.
Feel Like Selling?
All right, sell one of the older properties. Pay off its mortgage, and keep one third if the value of the home, to enjoy as you wish, maybe early retirement, super vacation, whatever. One third of a property worth $200,000 is approximately $65,000, which means just over $5,000 a month. Like it? Next year, sell another and enjoy your retirement from it.
Selling one property a year, you will have twenty years of bonanza, apart from your regular pension. At this rate, your remaining properties will be gaining equity faster than you are selling. (You bought two a year and you sell one a year) So, by the time you get to the tenth property, it will have paid for its mortgage for twenty years, meaning two thirds equity. That means $130,000 for you, at today's values, of course.
The Point Is
Nothing physical obtained in this world will be taken to the next. Enjoy it while you can, in this life and give your kids an example and even a home each, for that matter. It is all in a good imagination and, of course, putting it into practice.
Article Source:
http://www.bestmanagementarticles.com
http://business-loan.bestmanagementarticles.com
About the Author:
Amanda Hash, expert financial consultant, specializes in Home Equity Loans and Mortgage Refinance Loans. Visit us, http://www.yourloanservices.com/
วันอังคารที่ 3 มิถุนายน พ.ศ. 2551
Your Editorial Stock Collection, a Hidden Wealth
Rohn Engh
The first fifty years of editorial stock photography were lean years for photographers.
Few photographers imagined their photos were worth much more than the immediate compensation they received from a magazine, book publisher or assignment client.
In addition, to save filing space, many photographers threw out extra “baggage” of “outdated” images. Little did they realize they were tossing away a gold mine.
In the early days, some photographers had special agreements with their publishers or newspaper and magazine editors that ownership of the photos bought, could revert back to them (the photographers) after three years. In some cases it was a shorter period of time. (This was in the days before the revision of the Copyright Law decreed that copyright ownership now stays with the photographer. In its original form the Copyright Law transferred copyright to whoever bought a "use" right to a photo.)
Unfortunately, some photographers didn't take advantage of this kind of agreement provision. They were busy with their other projects and went on to other things, as the photo industry matured. Their original photographs, lying dormant in files at book companies, newspapers, and magazines, were sometimes ushered out by a junior assistant or inexperienced clerk, to make room for contemporary work. What could have been an annuity for a photographer disappeared into the dumpster.
Of course, some organizations had the foresight, manpower, and funds to catalog and save everything. One example is TIME-LIFE. Their files of photos chronicle the life and times of America since 1936.
Several years ago, the then-director of the TIME-LIFE library, Beth Zarcone, gave me a tour of their collection. The count of images totals more than 21,000,000, and before Getty Images bought their archives, TIME-LIFE kept these photos in their climate-controlled library at the base of Rockefeller Center in New York. I saw youthful pictures of Muhammad Ali (13 books have been written about him in the last decade), Frank Sinatra, astronaut John Glenn, Eleanor Roosevelt, and countless others. These were pictures taken by long-gone photographers who never thought about the legacy they were creating.
Not long ago, I had a talk with Flip Schulke, famed photographer of the Martin Luther King, Jr. era, and the subsequent years of political unrest.
He said, “As a young photographer in the 60's, I didn't throw anything away. After all, I thought of my pictures as my kids. Who gives their kids away?” As a result, Flip has a deep selection of outtakes from his assignments and self-assignments.
“Today, I'm making more money from those pictures than I did back when I took them,” says Flip. His books and photos about Martin Luther King Jr. have brought in six figures. A recent sale to a major TV network for a TV special, netted $24,000 in one month.
He also is authoring a St. Martin's Press book about Muhammad Ali. He is working with The University of Minnesota and Macalester College (where he graduated) in St. Paul MN on a CD-ROM featuring his photos of Dr. King.
“Stock photographers should realize that their editorial photos serve as a pension, an annuity, as you get older. When you're an editorial stock photographer, everything becomes history,” he said.
Flip pointed out that many photographers might not have the funds to produce their own CD-ROM. One way of getting around this is to donate your collection (with limited copyright) to a university, college or museum that has the budget to edit and make the selection process, catalog the pictures, produce the CD-ROM and promote it. The institution and the photographer then share in the profits.
“Some schools, however, don't always have the funds to follow through on the complete process. If they don't, the pictures will sit around in a box, the same way they did at your studio. Choose carefully.”
For present-day photographers, Flip warns that despite the convenience digital cameras offer to photographers and publishers, the process can backfire. For example, a city desk editor will take a card from a digital camera, choose only one or two shots from the photos on the card, say of a fire scene, and then hand the card back to the photographer. To utilize the disk space, the photographer may be inclined to erase the remaining pictures to start on a new assignment. This may save disk space, but it destroys the outtakes that might prove valuable to the photographer's historical collection.
Flip Schulke warns that every photo has historical significance. “Hold on to your photos. They are your future social security.”
Article Source:
http://www.bestmanagementarticles.com
http://business-management.bestmanagementarticles.com
About the Author:
Rohn Engh is the best-selling author of "Sell & ReSell Your Photos" and "sellphotos.com." He has produced several eBooks including, "How to Make the Marketable Photo." For more information on how to sell stock pictures and to receive his free eReport: "8 Steps to Becoming a Published Photographer," visit his website, PhotoSource International or call 800 624-0266.
The first fifty years of editorial stock photography were lean years for photographers.
Few photographers imagined their photos were worth much more than the immediate compensation they received from a magazine, book publisher or assignment client.
In addition, to save filing space, many photographers threw out extra “baggage” of “outdated” images. Little did they realize they were tossing away a gold mine.
In the early days, some photographers had special agreements with their publishers or newspaper and magazine editors that ownership of the photos bought, could revert back to them (the photographers) after three years. In some cases it was a shorter period of time. (This was in the days before the revision of the Copyright Law decreed that copyright ownership now stays with the photographer. In its original form the Copyright Law transferred copyright to whoever bought a "use" right to a photo.)
Unfortunately, some photographers didn't take advantage of this kind of agreement provision. They were busy with their other projects and went on to other things, as the photo industry matured. Their original photographs, lying dormant in files at book companies, newspapers, and magazines, were sometimes ushered out by a junior assistant or inexperienced clerk, to make room for contemporary work. What could have been an annuity for a photographer disappeared into the dumpster.
Of course, some organizations had the foresight, manpower, and funds to catalog and save everything. One example is TIME-LIFE. Their files of photos chronicle the life and times of America since 1936.
Several years ago, the then-director of the TIME-LIFE library, Beth Zarcone, gave me a tour of their collection. The count of images totals more than 21,000,000, and before Getty Images bought their archives, TIME-LIFE kept these photos in their climate-controlled library at the base of Rockefeller Center in New York. I saw youthful pictures of Muhammad Ali (13 books have been written about him in the last decade), Frank Sinatra, astronaut John Glenn, Eleanor Roosevelt, and countless others. These were pictures taken by long-gone photographers who never thought about the legacy they were creating.
Not long ago, I had a talk with Flip Schulke, famed photographer of the Martin Luther King, Jr. era, and the subsequent years of political unrest.
He said, “As a young photographer in the 60's, I didn't throw anything away. After all, I thought of my pictures as my kids. Who gives their kids away?” As a result, Flip has a deep selection of outtakes from his assignments and self-assignments.
“Today, I'm making more money from those pictures than I did back when I took them,” says Flip. His books and photos about Martin Luther King Jr. have brought in six figures. A recent sale to a major TV network for a TV special, netted $24,000 in one month.
He also is authoring a St. Martin's Press book about Muhammad Ali. He is working with The University of Minnesota and Macalester College (where he graduated) in St. Paul MN on a CD-ROM featuring his photos of Dr. King.
“Stock photographers should realize that their editorial photos serve as a pension, an annuity, as you get older. When you're an editorial stock photographer, everything becomes history,” he said.
Flip pointed out that many photographers might not have the funds to produce their own CD-ROM. One way of getting around this is to donate your collection (with limited copyright) to a university, college or museum that has the budget to edit and make the selection process, catalog the pictures, produce the CD-ROM and promote it. The institution and the photographer then share in the profits.
“Some schools, however, don't always have the funds to follow through on the complete process. If they don't, the pictures will sit around in a box, the same way they did at your studio. Choose carefully.”
For present-day photographers, Flip warns that despite the convenience digital cameras offer to photographers and publishers, the process can backfire. For example, a city desk editor will take a card from a digital camera, choose only one or two shots from the photos on the card, say of a fire scene, and then hand the card back to the photographer. To utilize the disk space, the photographer may be inclined to erase the remaining pictures to start on a new assignment. This may save disk space, but it destroys the outtakes that might prove valuable to the photographer's historical collection.
Flip Schulke warns that every photo has historical significance. “Hold on to your photos. They are your future social security.”
Article Source:
http://www.bestmanagementarticles.com
http://business-management.bestmanagementarticles.com
About the Author:
Rohn Engh is the best-selling author of "Sell & ReSell Your Photos" and "sellphotos.com." He has produced several eBooks including, "How to Make the Marketable Photo." For more information on how to sell stock pictures and to receive his free eReport: "8 Steps to Becoming a Published Photographer," visit his website, PhotoSource International or call 800 624-0266.
The Seven Steps to Creating an Inspired Business Plan
Mary C. Davis
Business planning is an extremely enjoyable, ongoing process for me -- now. But I remember when it was a struggle, a "should", something I felt I "had" to do as a business owner, but that didn't give me much joy. I had spent years creating successful plans as a fund raising professional (quite easily, I might add), but for some reason, I felt a great deal of resistance within me when it came to creating a plan for my own business. That resistance ended up being complex and required a lot of clearing.
Part of my resistance to business planning was because I really loved working with the spiritual laws, and I didn't want to get caught up in some of the "negative" energies around business and money I witnessed in the material realm. And, of course, I associated business planning with these energies!
But, gradually, my polarized way of thinking changed. Reading this sentence in Sanaya Roman and Duane Packer's book, Creating Money, assisted that transformation: "It will take less of your energy to attract, save and create more money if you are in harmony with both the spiritual and man-made laws of money." And, if you're a business owner, one of the man-made laws of money is business planning. So I set out to develop a business planning model for myself that harmonized the physical and metaphysical laws of commerce.
A Manifestation Tool
Many wonderful dreams and business ideas never materialize because they have not been clearly envisaged and grounded. A written business plan enables you to get very clear about your vision for your business, to ground this vision in the physical world and to align/focus your energy as you act on your plan. It's a fabulous manifestation tool!
Inspired business planning integrates both the spiritual and man-made laws of business development together. Specifically, it:
- connects you to the higher purpose of your business;
- helps you clarify what you desire for your business;
- supports you in clearing any resistance to having what you desire for your business;
- anchors you in a consciousness of faith and love;
- gives you a space in which to receive guidance from your highest levels;
- translates that guidance into the action steps of your plan, as you discern what business-building strategies to use and structures to put in place that will allow you to receive what you're desiring; and
- quantifies the financial aspects of your business.
The Seven Steps to Inspired Business Planning
Inspired business planning is a continuous process that will help you develop your business naturally, utilizing both your intuitive and intellectual capacities in an integrative way. As you go through this process, you'll notice that you feel more balanced and aligned, that the steps to build your business become clearer and you're more trusting and relaxed about the results. You'll experience much growth and expansion.
Inspired business planning is a seven-step process:
1) Determine the higher purpose of your business.
From a spiritual perspective, what function is your business meant to serve? What's your role in the evolution of humanity and our planet, and how will your business allow you to fulfil this purpose?
2) Create key intentions for building your business.
Like clarifying the higher purpose of your business, intentions are part of the "visioning" aspect of your plan. They are the broader goals you establish that will help you fulfil your purpose. What are your intentions?
3) Identify specific objectives and targets you desire related to each intention.
Also part of visioning is defining objectives and specific targets you aim to achieve for each intention. Objectives are more narrowly-defined goals; targets can be both the quantifiable or unquantifiable results you desire. What are your objectives and targets?
4) Tap into your guidance system to determine the action steps associated with each intention and corresponding objective(s) and target(s).
Spending time quieting your mind through meditation or other techniques and thinking/receiving ideas from your highest levels will lead you to the action steps of your plan. What action steps are you guided to take?
5) Clarify your financial inflow and outflow.
How much will it cost you to operate your business, create your offerings and get them out to the world? What level of revenue are you open to receiving on a monthly and/or yearly basis? How will you price your offerings to match that revenue level?
6) Clear resistance that may come up as you create and implement your plan.
Resistance is a belief, thought and accompanying feeling that disallows your natural state of well-being. The intention of building a prosperous, fulfilling business can bring up any number of fearful, resistant thoughts and feelings. These can prevent you from creating a business plan in the first place or from taking the actions your plan describes. What resistant beliefs, thoughts and feelings do you have about creating and implementing your business plan? How can you release this resistance?
7) Operate from love and faith by using prayer, visualizations and affirmations.
When you operate from love and faith, your actions are more joyful and inspired and you more easily attract clients and customers. Prayer, visualizations and affirmations are powerful tools that will anchor you in a state of love, trust and surrender. What prayers, visualizations and affirmations will support you as you build your business?
The real gifts of inspired business planning are in the process of creating the plan and implementing it, without being rigidly attached to the plan or its outcomes. So it's helpful to remain flexible and allow your plan to change and evolve as you gain more knowledge, guidance, perspective and clarity. Keeping your inner focus on higher essence states such as joy, generosity and gratitude is also important. As Sanaya Roman and Duane Packer say in Creating Money, "the process of getting there is the quality of being there."
Copyright 2008 Mary C. Davis
Article Source:
http://www.bestmanagementarticles.com
http://business-management.bestmanagementarticles.com
About the Author:
Entrepreneur, Coach and Prosperity Guide Mary C. Davis helps spiritually-oriented wellness professionals build prosperous, fulfilling businesses. Get tips on how to build your wellness business, with ease and joy, by subscribing to her FREE e-zine, The Prosperous Healer, at http://www.anamturas.com
Business planning is an extremely enjoyable, ongoing process for me -- now. But I remember when it was a struggle, a "should", something I felt I "had" to do as a business owner, but that didn't give me much joy. I had spent years creating successful plans as a fund raising professional (quite easily, I might add), but for some reason, I felt a great deal of resistance within me when it came to creating a plan for my own business. That resistance ended up being complex and required a lot of clearing.
Part of my resistance to business planning was because I really loved working with the spiritual laws, and I didn't want to get caught up in some of the "negative" energies around business and money I witnessed in the material realm. And, of course, I associated business planning with these energies!
But, gradually, my polarized way of thinking changed. Reading this sentence in Sanaya Roman and Duane Packer's book, Creating Money, assisted that transformation: "It will take less of your energy to attract, save and create more money if you are in harmony with both the spiritual and man-made laws of money." And, if you're a business owner, one of the man-made laws of money is business planning. So I set out to develop a business planning model for myself that harmonized the physical and metaphysical laws of commerce.
A Manifestation Tool
Many wonderful dreams and business ideas never materialize because they have not been clearly envisaged and grounded. A written business plan enables you to get very clear about your vision for your business, to ground this vision in the physical world and to align/focus your energy as you act on your plan. It's a fabulous manifestation tool!
Inspired business planning integrates both the spiritual and man-made laws of business development together. Specifically, it:
- connects you to the higher purpose of your business;
- helps you clarify what you desire for your business;
- supports you in clearing any resistance to having what you desire for your business;
- anchors you in a consciousness of faith and love;
- gives you a space in which to receive guidance from your highest levels;
- translates that guidance into the action steps of your plan, as you discern what business-building strategies to use and structures to put in place that will allow you to receive what you're desiring; and
- quantifies the financial aspects of your business.
The Seven Steps to Inspired Business Planning
Inspired business planning is a continuous process that will help you develop your business naturally, utilizing both your intuitive and intellectual capacities in an integrative way. As you go through this process, you'll notice that you feel more balanced and aligned, that the steps to build your business become clearer and you're more trusting and relaxed about the results. You'll experience much growth and expansion.
Inspired business planning is a seven-step process:
1) Determine the higher purpose of your business.
From a spiritual perspective, what function is your business meant to serve? What's your role in the evolution of humanity and our planet, and how will your business allow you to fulfil this purpose?
2) Create key intentions for building your business.
Like clarifying the higher purpose of your business, intentions are part of the "visioning" aspect of your plan. They are the broader goals you establish that will help you fulfil your purpose. What are your intentions?
3) Identify specific objectives and targets you desire related to each intention.
Also part of visioning is defining objectives and specific targets you aim to achieve for each intention. Objectives are more narrowly-defined goals; targets can be both the quantifiable or unquantifiable results you desire. What are your objectives and targets?
4) Tap into your guidance system to determine the action steps associated with each intention and corresponding objective(s) and target(s).
Spending time quieting your mind through meditation or other techniques and thinking/receiving ideas from your highest levels will lead you to the action steps of your plan. What action steps are you guided to take?
5) Clarify your financial inflow and outflow.
How much will it cost you to operate your business, create your offerings and get them out to the world? What level of revenue are you open to receiving on a monthly and/or yearly basis? How will you price your offerings to match that revenue level?
6) Clear resistance that may come up as you create and implement your plan.
Resistance is a belief, thought and accompanying feeling that disallows your natural state of well-being. The intention of building a prosperous, fulfilling business can bring up any number of fearful, resistant thoughts and feelings. These can prevent you from creating a business plan in the first place or from taking the actions your plan describes. What resistant beliefs, thoughts and feelings do you have about creating and implementing your business plan? How can you release this resistance?
7) Operate from love and faith by using prayer, visualizations and affirmations.
When you operate from love and faith, your actions are more joyful and inspired and you more easily attract clients and customers. Prayer, visualizations and affirmations are powerful tools that will anchor you in a state of love, trust and surrender. What prayers, visualizations and affirmations will support you as you build your business?
The real gifts of inspired business planning are in the process of creating the plan and implementing it, without being rigidly attached to the plan or its outcomes. So it's helpful to remain flexible and allow your plan to change and evolve as you gain more knowledge, guidance, perspective and clarity. Keeping your inner focus on higher essence states such as joy, generosity and gratitude is also important. As Sanaya Roman and Duane Packer say in Creating Money, "the process of getting there is the quality of being there."
Copyright 2008 Mary C. Davis
Article Source:
http://www.bestmanagementarticles.com
http://business-management.bestmanagementarticles.com
About the Author:
Entrepreneur, Coach and Prosperity Guide Mary C. Davis helps spiritually-oriented wellness professionals build prosperous, fulfilling businesses. Get tips on how to build your wellness business, with ease and joy, by subscribing to her FREE e-zine, The Prosperous Healer, at http://www.anamturas.com
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