In today’s economy, the business owner who knows how to manage their own cash flow will always be able to stay alive. We need to be aware of ways to find creative financing should we need this to expand our business, increase our credit lines or need working capital. As we all know, banks have been severely affected in the shaky economy. Below are some alternative sources for getting working capital, should you need it.

1. Credit Unions. Credit Unions still offer more flexibility and have a willingness to work with small business. Make sure you have an updated business plan you can present to the Credit Union so they have a “buy in” to your capital requirements.

2. Community Banks. These smaller banking institutions are looking to make commercial and business loans in the neighborhood. They are looking for good business relationships to help them get more exposure to the business community. They have not run into the difficulties that the big boys have faced due to making more conservative and smaller loans, and in many cases, no residential real estate loans.

3. Government-funded Nonprofit. Look at your local or state government to see if they make loans to businesses who create or retain full time jobs in the region. Economic Loans benefit all parties. Also, could look to the SBA and see what their lending requirements are.

Though the banking industry has experienced a rough ride, this may not apply to our businesses. Check it out, cash is still available!

Health Savings Accounts are growing more in popularity. How can you educate yourself so you can take advantage of tax savings and growth?

1. Health savings plans have high deductibles. Be sure you can afford the deductible before you open a plan.

2. Fund this account early and take advantage of the tax benefits.

3. Keep excellent records.

4. Consider Insurance plans that cover checkups and immunizations at 100%

5. Comparison shop for the best plan.

6. Don’t forget you can self-direct your Health Savings Account for maximum growth with investments you know and understand. Visit www.theentrustgroup.com for more information.

Most women are fearful of managing their money. We were taught as girls that men or boys are good with numbers and we are good being homemakers. We are good at being homemakers, but we can also be good with managing our own money.

Start out small. Do you have a budget? Have you incorporated savings into your budget every month? Have you started an investing program for yourself?

Keep it simple. If the stock market frightens you, a lot of new investors buy mutual funds. I believe you should know what you are buying and to focus on investments that you understand. This is why I like real estate. That said, real estate investing is not for everyone. Keep your strategy simple in the beginning.

Contribute consistently. The key to wealth building is not to just keep saving but to reinvest savings on a regular basis. If all we do is put the money in a money market account, it will actually lag in growth or be behind. Take your monthly savings and reinvest it every quarter.

Over time, no matter what investment type you elect to build a portfolio, history shows that markets rise over time. I am talking decades not months. Be prepared to hold for the long term!

WASHINGTON – July 23, 2008 – President Bush has dropped his opposition to legislation that aims to calm the chaotic housing market despite his opposition to a $3.9 billion provision, the White House said Wednesday.

Under the bill, the government would help struggling homeowners get new, cheaper loans and would be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion.

The House was expected to vote on the bill Wednesday, and it could become law as early as this week.

The Bush administration and lawmakers in both parties teamed to negotiate the measure, which pairs Democrats’ top priorities - federal help for homeowners facing foreclosure and $3.9 billion for neighborhoods hit hardest by the housing crisis - with Republicans’ goal of reining in mortgage giants Fannie Mae and Freddie Mac while reassuring financial markets of their stability.

Bush had objected to the $3.9 billion provision in the measure, saying that it was aimed at helping bankers and lenders, not homeowners who are in trouble.

White House press secretary Dana Perino announced Bush’s switch in a telephone conference call with reporters. “We believe this is not the time for a prolonged veto fight but we are confident the president would prevail in one,” she said.

It hands the Treasury Department power to extend the government-sponsored mor tgage companies an unlimited line of credit and buy an unspecified amount of their stock, if necessary, to prop up Fannie Mae and Freddie Mac, two companies chartered by Congress. The two companies back or own $5 trillion in U.S. mortgages - nearly half the nation’s total.

Copyright © 2008 The Associated Press, Julie Hirschfeld Davis. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Or a better title, check those insurance policies and never let them lapse!

Recently, my tenant decided she wanted to replace flooring in one of the bedrooms from carpet to wood flooring. No problem, I said. She had a flooring company come out to install the floor. They noticed there was a rather “wide” gap from the floor to the wall. They suggested she contact a foundation specialist.

The foundation specialist came out and inspected the property. They were not 100% sure but thought it was a sink hole, in case you do not know what this is, it is a property that is either quickly or slowly is sinking into the ground, a more common event in certain states that one would not necessarily expect.

They suggested that I contact my insurance company and have an engineering firm come out and run soil tests. I did this, and went myself to see the property and to see what we were facing.

I met with the insurance adjustor who also could not determine if this was a sink hole or just a shift in soils in the foundation. If it is a sinkhole, he said, “then the insurance will pay as you have this coverage. If it is not, you are on your own.” We noticed multiple cracks on the ceiling, floor and the outside of the house as well as cracks in the concrete.

The insurance company hired a company to do the testing; if it came back it was not a sinkhole I would owe the $7,500 to the engineer.

I sat on pins and needles waiting for the results. Six weeks later they came, indeed it is a sink hole and to fix it will cost almost the price of the house. Thank God I had sink hole insurance.

This is a “slowly sinking property” good thing as it will take at least 6 months to remediate the problem then we can cosmetically go in there and fix it too. You might wonder what happened to the flooring in the bedroom. Nothing. I told the tenant to put a carpet down until the problem is fixed.

This story I hope illustrates the importance of having not only basic insurance but in areas where you may have to worry about sink holes, hurricane, earthquake, etc., don’t be cheap…get what is needed. I will happily pay my deductible for them to spend the 6 figures to fix the problem. What if I did not have sink hole insurance????

As empathic as we women are, it is sometimes difficult to deal with when faced with a loved one who is struggling with cancer or another terminal illness. Sometimes there just isn’t anything correct to say to someone who is reeling from a terrible disease.

We need to realize that not everyone wants the same support. My mother was diagnosed with cancer last year. She did not want people calling her and discussing her situation. She only wanted to talk to her girls. My friend recently passed away from colon cancer. She wanted everyone around her and their strength helped her fight valiantly for four years until the cancer finally won.

Take the lead from the person who is struggling. If she wants to talk, then listen. Don’t be afraid of emotions. Being there, listening and being supportive helps the person more than you realize. That, my friends, are what we are about….being there for one another!

If you don’t have a lot of dollars to put away in a tax deferred account and are self-employed, consider an HSA. Most self-employed individuals pay for their own health care. With a health savings account, you get a deduction just for passing the money through it. For more information on Health Savings Accounts log on to www.theentrustgroup.com.

Singing makes us happy. It releases high levels of endorphins and is a quick way to reverse a bad mood. Just remember where you are when you are singing! Your best bet, unless of course you have a voice like Barbara Streisand, is to sing in the shower! The steam is actually good for your vocal chords. In the car is great especially at rush hour, no road rage warriors will get to you. And of course, there is always a karaoke bar!

Post Content - Published Friday July 11, 2008
Proposed ban on illegal immigrants stirs uproar in Fremont
By Cindy Gonzalez and Judith Nygren - World-Herald Staff Writers

A proposed law aimed at banishing illegal immigrants from Fremont, Neb., would require every renter —whether they were born in the United States or immigrated here — to obtain an occupancy license through the city.

The proposal has sparked an outcry among advocates for Latinos. Nebraska Appleseed attorney Norm Pflanz said he is confident that many Fremont citizens will join in opposition once they understand the full impact of the ordinance — on their lives as well as those of immigrants.

Fremont’s is the first city council in the state to propose an ordinance that would ban harboring and renting to illegal immigrants. Lawmakers in other U.S. localities have introduced similar initiatives, often later struck down by the courts, according to national immigration groups.

Bob Warner, the longtime councilman who sponsored Fremont’s proposal, said he did so because residents were “sick and tired” of what he said was the federal government’s lax enforcement of immigration laws.

He said Fremont residents want their own immigration laws.

“I’ll fight to the dying end to do what they want,” Warner said. “I don’t know why everybody is making a mountain out of something that is very simple.”

The proposal that went to the council for a public hearing this week calls for all renters to fill out an application verifying their legal right to be in the United States. The applications would be submitted to local police for verification, and an occupancy license would be issued.

Every person occupying a rented home or apartment would have to hold an occupancy license at a cost of $5 each. A new license would be needed every time a resident relocated to a different rental unit.

Providing false information on the application would subject the license holder to a fine of up to $500. Those who occupied a rental unit without a valid license would be subject to the same fine.

Landlords would have to see the license before renting a unit. The ordinance, however, does not stipulate a penalty for landlords who fail to comply.

The Nebraska Mexican-American Commission issued a statement on Thursday saying it was disappointed with “racial and anti-immigrant remarks” made at the Fremont council meeting. Tuesday was the first opportunity for the public to speak about the ordinance.

Angel Freytez, commission spokesman, said some opponents of the ban left the meeting early because they felt there was inadequate security. One opponent of the ordinance later broke into tears because of the “hateful” statements, said Freytez, who called the behavior at the meeting “shameful.”

“Instead of raising the level of dialogue over the immigration issue,” Freytez said, “they are degrading it.”

Pflanz, the Appleseed attorney, said some people in the audience of Latino and Asian descent overheard remarks aimed at them: “There’s an illegal. There’s an illegal.”

“The atmosphere was very hostile to anyone who wanted to oppose the ordinance,” Pflanz said.

When he and others in his group rose to leave the council chambers during a 10-minute break, a police officer approached, Pflanz recalled. “He said, ‘I think I’m going to escort your group to your cars.’ ”

While Pflanz wouldn’t say whether he thought the escort was necessary, he said he “was most grateful” for the service.

Said Councilman Warner: “Does it get out of hand? Absolutely.”

However, he said, the anger and raised voices simply reflected the frustration felt by many of his constituents.

Mary Marsh, another council member, said she did not sense uneasiness or feel there was a threatening atmosphere at the meeting.

“People expressed their opinions,” she said. “That is a given right in the United States of America.”

Marsh was among five of eight council members who earlier had directed the city attorney to draft the ordinance. She said she was undecided how she would vote in August but thought the community should have a say on how the town handles illegal immigration.

Fremont officials said no single local event or trend sparked the proposed ordinance.

Rather, Warner said, the frustration he and others had already felt increased after a committee of the Nebraska Legislature prevented full debate on an anti-illegal immigration proposal supported by Gov. Dave Heineman.

The legislation would have required verification of immigration status for anyone seeking state benefits. Blocking that discussion compounded irritation with the federal government over what some see as ineffective enforcement efforts.

The current draft of the Fremont ordinance does not include a ban on hiring, but Warner said he wants that included — along with penalties for renting to and harboring illegal immigrants.

Fremont — with a population around 25,000, about 30 minutes west of Omaha — includes a Hormel Foods pork processing plant that relies on immigrant labor.

Warner, a member of the council for 20 years, said he can’t go to church, a restaurant or a keno parlor without someone approaching him and saying, “‘By God, this stuff has got to stop.’”

Fremont Mayor Donald Edwards said his main concern is that the city enact a law that can withstand legal challenge and is enforceable.

Pflanz expressed hope that church leaders, advocates and “the everyday” people of Fremont will make their voices heard before the council takes up the issue again. Tuesday’s discussion “did not reflect well on Fremont, and it didn’t reflect well on the vast majority of people in Fremont” who want to live in an inclusive community, he said.

Contact the writer: 444-1224, cindy.gonzalez@owh.com

Attention Real Estate Investors….some up to date information that can help you manage your investments and your finances. Enjoy, Lisa

Onsite.com is a blog that does background checks on prospective tenants. Never have the excuse that you are not part of a credit bureau or have no access to do a background check. The home is your asset, you need to protect it by putting in good quality tenants that will take care of your investment.

Mortgage rates: It is true that we investors PAY for buying investment property. On average, our interest rate on investment property typically runs anywhere from a quarter to a full point more than if you were buying an owner occupied (meaning you live it for at least 1 year) home. This is because the lender considers this loan riskier. There are things you can do to negotiate the loan for a rental property:

Put more money down. The more down the more excited the lender will be. 30% would be ideal.

Show you have reserves in the bank to pay for any vacancies or fix up time the property might require.

If you have experience as a landlord, show it! Your experience as a landlord will ease the mind of the potential lender. If you already have a tenant lined up for the property you are buying with a nice long term lease, let the lender know.

If you plan on holding the property for the long term, you could buy down the rate by paying a fee up front. This only makes sense if you plan on holding the property more then 5 years.