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The weakness of the U.S. economy has given rise to the largest epidemic of foreclosures in American history. But smart real estate investors are turning these ‘lemons’ into ‘lemonade’ in an incredibly profitable new way.
That opportunity is called Bulk REO Investing, and the opportunity is huge.
Foreclosures are at the heart of the Bulk REO business, so let’s consider the foreclosure process.
Understanding the notion of Bulk REO’s requires understanding of the foreclosure process.
When a home owner begins to miss payments on their mortgage, the lender begins to send late/overdue notices to the home owner. After a certain period, the lender will then formally begin foreclosure proceedings. Between the formal beginning of the foreclosure process and the public auction is the ‘preforeclosure’ period.
When a defaulted property is placed up for auction, the foreclosure process is completed. Ownership of the property is returned to the lender if the property is not sold at auction. Such a property is then classified as an ‘REO’ (Real Estate Owned) by the lender.
Typically, lenders list their REO properties with local real estate agents in hopes of selling the property to a retail buyer who will pay full price. But as a consequence of the weak economy, lenders are frequently selling their REO properties far below their actual value. The trade-off is that the buyer must purchase multiple REO properties in each transaction.
There is huge profit potential in these REO packages for qualified real estate investors. One of the best ways to take advantage of Bulk REO Investing opportunities is to partner with a well-regarded source of funding. Some sources of funding for these transactions are: personal funds, hard money lenders, commercial lenders and non-conventional sources such as private investors and hedge funds. One excellent source of funding for Bulk REO Investment transactions can be found here: Bulk REO Investment Training.
Point of Sale Equipment: Keyboards and touch screens
One of the first choices you will have to make about your POS equipment is whether to go with a touch screen or a programmable keyboard. Most businesses choose touch screens. The only market where programmable keyboards are more popular is grocery stores, since it has the ability to program individual keys for specific item codes and prices.
A growing number of touch screens today are designed by restaurant owners, and since many retail business owners aren’t tech savvy they prefer to use touch screens that are more intuitive to use and “user-friendly”. They also provide more flexibility in the user interface and programming. You will find most touch screens these days are based on flat-screen LCDs unlike the traditional CRT monitors. While LCD touch screens are a bit more expensive (typically $600 - $1,000 instead of $400 - $500), they are sturdier, saves electricity, and take up less space. They even look much better. With both CRT and LCD displays, avoid “overlay” touch screens that are added on to regular monitors - these monitors tend to breakdown easily and even causes unnecessary complications to your system.
For keyboards, some has the standard 101-keys model similar to any computer. For smaller keyboards, there’s the flat-panel membrane keyboard that’s more POS-specific, common in fast food chains. Often, they come in with built-in magnetic stripe readers for credit card processing. Programmable keyboards usually ranges between $150 and $300.
It doesn’t matter which POS equipment you use, make sure you consider the environment where it will be used. You’ll find both keyboards and touch screens available in the market that has varying levels of spills and dusts proofing.
Scanners
POS scanners reads an item’s barcode and sends the information back to the computer. Typically, scanners connect to the system through Y-connectors called wedges that make them function as an extension of the keyboard. Bar code scanning improves speed and accuracy during checkout.
Low-end scanners are based on CCD technology. They can be inexpensive, but usually have limitations - an item being scanned needs to be 1 to 3 inches from the scanner. In a typical retail setting, it should be fine.
Laser scanners, which use a beam of light to read bar codes, offer better scanning ability with the ability to scan at longer distances. You may find some laser scanners that automatically turn themselves on when scanning and then turn off again, this is called “autosensing”. The omnidirectional scanners can send out 15 or 20 lasers simultaneously, lets you scan bar codes from any angle. And the top of the line are embedded scanners, these are omnidirectional scanners usually seen in supermarkets located below the counter for easy access.
Properly use different types of scanners to serve customers. If the counter line has only one or a couple of customers, CCDs or entry-level laser scanners can help you out. A fairly constant flow of customers might call for an autosensing model, and very high volume businesses should investigate omnidirectional or embedded scanners. Prices range from below $100 for the most basic CCD scanners to $350 or more for omnidirectional laser scanners.
Handheld POS
One of the latest and most ingenious type of input device is the handheld, wireless terminal. Essentially a PDA, which wirelessly transmits orders back to its base station. A distinct advantage for restaurants is that they increase the amount of time servers spend on the floor taking orders and interacting with customers, because it eliminates the need to go back to a terminal to give the orders.
Write-on handhelds: think about combining touch screens with PDAs, this tiny input device allow servers to simply write the orders down. Handwriting recognition software parses the order then sends it directly on to the kitchen and bar as needed.
These handheld terminals are more expensive compared to a traditional touch-screen order terminal. However they can make up for the cost by allowing your servers to spend more time up-selling more desserts and drinks. When evaluating handheld terminals, make sure to take the “drop test” - these units are rated for toughness according to how much they can take a fall. You can easily find out if your business is a candidate for handheld POS terminals by comparing multiple POS equipment vendors to learn what products and services they offer.
For more info and free POS quotes or perhaps an online resource?
Visit POS-For-Restaurants.com
The author of this article is the Vice-President of Customer Relations at POS-For-Restaurants with over 20 years of experience serving restaurants of all types throughout the U.S.
Rental contracts present themselves in a bunch of diverse forms and fashions. They definitely aren’t specific towards one purpose. There can be apartment rental lease, business leases, auto leases and the possibilities go on. Each of these is for assorted products, but the products both represent a similar objective: A contract where you promise to follow a defined list of rules in direction by way of the document, as well as agreeing to pay for the leased article for the length for which you’ve got it.
Most lease contracts are made up of multiple classes of information which they want to obtain from the person looking to lease the article. Much of this is for the sake of making sure that the person is indeed a creditworthy person who will be entrusted to maintain the residential lease rental agreement form as well as the additional points contained inside the lease contract.
I do not know how many people will in fact be amazed to discover that lease agreements will, in truth, not always be maintained and there are many diverse issues that might come up. Which is why ratifying a house rental agreement form will be important as a result of the unfamiliar circumstances which might apply.
Online, there are lots of sites that lease agreements can be found. In fact, there’s quite a wide range of resources accessible to use on the Web as there exists for many additional services and things. You will find lease contracts for every state and just about everything else that a individual might imagine that has to do with lease contracts.
There is no limitation to the quantity of data you can find. It is, indeed, quite a good plan to utilize your research chances before ratifying a lease agreement so one can appreciate what will be expected of you.
It is definitely a good plan to examine everything, especially when it boils down to lawful matters like rental contracts.