Sunday, March 1, 2015
Top Entrepreneur News

Sun, 01 Mar 2015 16:00:00 -0600

Ideally, entrepreneurs should ask for as little money as possible and set up campaigns that run no longer than 30 days.

Sun, 01 Mar 2015 13:00:00 -0600

Formulating your work schedule is an important prioritization task. Here are four guidelines to keep in mind.

Sat, 28 Feb 2015 19:00:00 -0600

An app called Wigo has become the hottest thing on college campuses.

Sat, 28 Feb 2015 17:15:00 -0600

You have probably heard people talk about 'big data.' If your eyes start to glaze over when that term is mentioned, get your Big Data 101 Intro lesson here.

Sat, 28 Feb 2015 15:05:00 -0600

Every entrepreneur should have these fundamentals in place before launching a full-blown business.

Sat, 28 Feb 2015 14:00:00 -0600

Being the office blabbermouth isn't just annoying – it could hurt your career.

Sat, 28 Feb 2015 13:00:00 -0600

If you're serious about being an entrepreneur, let these stories of success guide your planning.

Sat, 28 Feb 2015 12:30:00 -0600

Over the last decade, Jeff Cohen has built business into 12 Togo's restaurants.

Sat, 28 Feb 2015 05:00:00 -0600

A look at the value of paid referrals and advisers and the difference between ethics and compliance.

Sat, 28 Feb 2015 00:30:00 -0600

Sseko Designs co-founder Liz Bohannon has big plans - and a 'no' from Shark Tank's investors won't crush them.

Sat, 28 Feb 2015 00:00:00 -0600

The hit AMC show is more than just a zombie flick. It teaches us a few management lessons that we must not forget.

Fri, 27 Feb 2015 23:30:00 -0600

See how to break through and triumph.

Fri, 27 Feb 2015 23:00:00 -0600

Harness word-of-mouth from influential people in a cost-effective campaign.

Fri, 27 Feb 2015 22:30:00 -0600

If you want to stretch your capabilities, step away from the traditional leadership library and consider these exercises.

Fri, 27 Feb 2015 22:00:00 -0600

Every business wants loyal customers, yet we often forget how crucial relationships are to our success.

Fri, 27 Feb 2015 21:45:00 -0600

These five tips will help you launch the career of your dreams.

Fri, 27 Feb 2015 21:30:00 -0600

This technique can help quell upset customers and hopefully put a stop to broadcasting their dissatifaction.

Fri, 27 Feb 2015 21:15:00 -0600

Everyone is confused about what publicists do these days. Understand some of the common pitfalls and strategize more effectively with a pro.

Fri, 27 Feb 2015 21:03:00 -0600

The actor and philanthropist known the world over for his portrayal of Mr. Spock on 'Star Trek' indeed did live long and prosper. Here are words to remember him by.

Fri, 27 Feb 2015 21:00:00 -0600

For one startup founder, the fitness platform with a cult-like following provides a physical, mental and emotional challenge.

Fri, 27 Feb 2015 20:30:00 -0600

Email providers and readers are raising the standards for what content makes it into the inbox and what lands in the junk pile.

Fri, 27 Feb 2015 20:15:00 -0600

Balance functionality and design or risk drowning in the crowded marketplace.

Fri, 27 Feb 2015 20:00:00 -0600

A funny thing happened when one woman gave up email. She found better ways to be productive.

Fri, 27 Feb 2015 19:45:00 -0600

Check out these essential qualities for success and ways to keep a top performer.

Fri, 27 Feb 2015 19:30:00 -0600

For brands, video creation is an essential component of existing in the virtual ecosystem. Here is how to ensure your videos are seen.

Fri, 27 Feb 2015 19:15:00 -0600

Mobile and web innovations can make managing public relations in the digital age faster and easier.

Fri, 27 Feb 2015 19:12:00 -0600

For example, as you are reading through Facebook, you can press "j" to get to the next post.

Fri, 27 Feb 2015 19:00:00 -0600

When it comes to communicating with your customers, just a few minutes of planning will save you time, energy and possibly, trouble, later down the line.

Fri, 27 Feb 2015 18:45:00 -0600

Attackers are exploiting flaws in Google's popular operating system.

Fri, 27 Feb 2015 18:30:00 -0600

Steer past the canned response to create a more authentic dialogue with job seekers.

Fri, 27 Feb 2015 18:14:00 -0600

With more than 1,100 former RadioShacks now open for new businesses, franchises are finding opportunity in the brand's bankruptcy.

Fri, 27 Feb 2015 18:00:00 -0600

The perpetual grind of performance improvement can be overwhelming, so seek an external party.

Fri, 27 Feb 2015 17:45:00 -0600

The reason may be due to uncertainties caused by the financial crisis and how home values have fallen so much.

Fri, 27 Feb 2015 17:30:00 -0600

Creating a MAP will take no more than an hour of your time every month and will keep the lines of communication open, ensuring relationships with investors remain strong, and ultimately helping early-stage startups succeed.

Fri, 27 Feb 2015 17:00:00 -0600

While a key aspect of his plan changed, City Winery founder Michael Dorf achieved his original goal: to build a place where people could eat, drink and enjoy an intimate concert experience.

Fri, 27 Feb 2015 17:00:00 -0600

Co-working space AlleyNYC recently raised $16 million in a round we participated in. Here's our reasoning.

Fri, 27 Feb 2015 16:39:00 -0600

Failing to do so will result in a cold shoulder from Google.

Fri, 27 Feb 2015 16:32:00 -0600

Earth's biggest e-tailer could one day 3-D print your purchases from the back of a high-tech delivery truck.

Fri, 27 Feb 2015 16:30:00 -0600

You need to seek an amount that is just right, based on your real needs, and consistent with the capabilities and interests of the investors you are addressing.

Fri, 27 Feb 2015 16:15:00 -0600

The groups are betting on a very musical future.

Fri, 27 Feb 2015 16:06:00 -0600

Black and blue or white and gold?

Fri, 27 Feb 2015 16:00:00 -0600

It's an incredibly important and extremely specific role.

Fri, 27 Feb 2015 15:45:00 -0600

Reaching out for help when you need it is crucial when you've taken on the grueling and often lonely work of building a business.

Fri, 27 Feb 2015 15:30:00 -0600

You could learn a lot by working your way to the top of a well-established company, but who has time for that?

Fri, 27 Feb 2015 15:17:00 -0600

Kira Wampler is the new chief marketing officer of the San Francisco ridesharing company Lyft. She is also a mother of two. Here's how she manages both roles.

Fri, 27 Feb 2015 15:04:00 -0600

The taco chain plans to add 1,300 new locations internationally by 2023.

Fri, 27 Feb 2015 15:00:00 -0600

The big event kicks off March 2 in Barcelona.

Fri, 27 Feb 2015 14:45:00 -0600

The Swedish mobile telecom gear maker is suing over patents related to the 2G and 4G/LTE standards.

Fri, 27 Feb 2015 14:30:00 -0600

The Miller brothers have created a technology platform that is transforming real estate investment.

Fri, 27 Feb 2015 14:15:00 -0600

Check out which little-known startups and sectors landed major funding in 2014.

Fri, 27 Feb 2015 14:00:00 -0600

Google's latest moves in the mobile payment market and Apple's plans to expand across the pond.

Fri, 27 Feb 2015 14:00:00 -0600

Social-media marketing for a business is one thing. Now imagine achieving social success when the brand you're trying to promote is you.

Fri, 27 Feb 2015 13:30:00 -0600

Spending money on a beautifully designed, fully capable website is no longer a luxury if you're looking to launch or grow any ecommerce business in 2015.

Fri, 27 Feb 2015 13:18:00 -0600

The FCC now has oversight of the Internet. But there is one thing it can never change.

Fri, 27 Feb 2015 13:15:00 -0600

Stone and co-founder Evan Williams teamed up because they resonated and trusted great things would follow.

Fri, 27 Feb 2015 13:00:00 -0600

It's a truism that 20 percent of your efforts yield 80 percent of your results. Now consider what, or who, is causing 80 percent of your problems.

Fri, 27 Feb 2015 12:30:00 -0600

Originally from Des Moines, Iowa, the Newmans were more than willing to relocate to open a Two Men and a Truck location.

Fri, 27 Feb 2015 12:00:00 -0600

Follow these three tips to help make your early hours beneficial.

Thu, 26 Feb 2015 23:30:00 -0600

While these cornerstones can be hard to live by, they are what makes entrepreneurs successful.

Thu, 26 Feb 2015 23:00:00 -0600

The tools you use can either help or hinder your employee's drive and creativity, so think critically about what your goals are.

Thu, 26 Feb 2015 22:30:00 -0600

Almost half of a brand's customers will soon be proverbially "up for grabs" to anyone with an effective mobile marketing strategy.

Thu, 26 Feb 2015 22:15:00 -0600

Business leaders can empower employees to be entrepreneurial, test out new ideas and spread a culture of innovation.

Thu, 26 Feb 2015 22:00:00 -0600

Hiring is a notoriously tricky process. Finding the stars you need requires knowing what to look for, and how to spot it.

Thu, 26 Feb 2015 21:45:00 -0600

Morgan Stanley analysts don't see a love connection for investors.

Thu, 26 Feb 2015 21:30:00 -0600

Never mind the old-school cocktail party. Be a digital player: Join online professional groups. Or better yet start your own.

Thu, 26 Feb 2015 21:24:00 -0600

The social-media platform has made it easier for users to reach out to their connections whose activity on Facebook indicates they are at risk for self-harm or suicide.

Thu, 26 Feb 2015 21:15:00 -0600

'The robot doctor' sounds like the title of a sci-fi movie. But it's just one future trend that entrepreneurs should know about in this changing industry.

Thu, 26 Feb 2015 21:00:00 -0600

For firms with global clients, expanding services into new markets is the logical next step. But actually taking that step will require careful planning, research and patience.

Thu, 26 Feb 2015 20:45:00 -0600

Every company needs to invest in cybersecurity but your first line of defense is being aware.

Thu, 26 Feb 2015 20:32:00 -0600

A Texas company is again suing the tech giant, this time over the same patents' use in devices introduced after the original case was underway.

Thu, 26 Feb 2015 20:30:00 -0600

With billions being poured into the medical field, the status quo is no longer an option. It's time for entrepreneurs to enter the fold.

Thu, 26 Feb 2015 20:15:00 -0600

Encountered anyone in this category lately? Learn how to tell if someone is a genuine entrepreneur.

Thu, 26 Feb 2015 20:10:31 -0600

This time, a company wants to build it over a five-mile stretch in California.

Thu, 26 Feb 2015 20:00:00 -0600

Some of us feel like we were just made to do something more with our lives. Some of us know what that something is. But some don't.

Thu, 26 Feb 2015 19:30:00 -0600

One company's innovative product could cause waves in the $30 billion financial data services market.

Thu, 26 Feb 2015 19:27:00 -0600

A raucous debate that has unfolded over the past year has concluded with what appears to be permanent protection of the Internet as open platform for entrepreneurs and free speech.

Thu, 26 Feb 2015 19:15:00 -0600

To remain optimistic, discipline your mind to stay clear of catastrophic, bogged-down thoughts and the "what if" slippery slope of anxiety.

Thu, 26 Feb 2015 19:00:00 -0600

Images are more likely to gain attention, entice your community to take action and inspire brand advocacy if they accomplish one or more of five key goals.

Thu, 26 Feb 2015 18:56:00 -0600

Industry analyst Jan Rezab said that a tide shift will occur about four months after Facebook offers users the opportunity to sell ads against their videos.

Thu, 26 Feb 2015 18:45:00 -0600

Heat up your cold calling by focusing on the companies that most need your product.

Thu, 26 Feb 2015 18:34:46 -0600

The tech giant sent out invitations reading 'Spring Forward' for a media event to be held on March 9, the day after Daylight Savings Time begins.

Thu, 26 Feb 2015 18:30:00 -0600

If your product is thriving with one customer base, it's time to grow past the comfort zone.

Thu, 26 Feb 2015 18:19:00 -0600

Google may be vying for a slice of the fitness wearables pie.

Thu, 26 Feb 2015 18:15:00 -0600

Making little changes to your posts, such as adding a description or hashtags, can bump up users' engagement with your brand. Give these tactics a try.

Thu, 26 Feb 2015 18:07:00 -0600

For the first time, Dunkin' is selling K-Cups in grocery stores and online – and franchisees are reaping the rewards.

Thu, 26 Feb 2015 18:00:00 -0600

Marketing your first book, a new product or a catchy feature? Build an online following first. Say, you could even spread the word via rappers.

Thu, 26 Feb 2015 17:30:00 -0600

When it comes to failure, entrepreneurs should be taking healthy and educated risk that may yield a setback, rather than failing just to fail.

Thu, 26 Feb 2015 17:27:05 -0600

When coming up with your own marketing and press materials, remember to be creative while also keeping your audience in mind.

Thu, 26 Feb 2015 17:24:00 -0600

The white chocolate and wafer cup is 100 percent edible – and has the power to get people talking about coffee at a chain better known for chicken.

Thu, 26 Feb 2015 17:15:00 -0600

NBC's Brian Williams and Veterans Affairs Secretary Robert McDonald were caught in misstatements, awakening a discussion about workplace ethics.

Sun, 01 Mar 2015 18:30:00 -0600

Not sure how to write a Pain Letter directly to your hiring manager and leave the automated Black Hole recruiting portal behind? Here's the step-by-step!

Sun, 01 Mar 2015 17:51:00 -0600

Why don't others follow this wildly profitable approach?

Sun, 01 Mar 2015 17:30:00 -0600

Samsung has launched the Galaxy S6 and S6 Edge, here are the full specs of the phone, component photos and hands-on video

Sun, 01 Mar 2015 15:32:00 -0600

• Spoiler alert: this is a preview of the finale of season 5 of Downton Abbey, before its transmission in the US on PBS on March 1, 2015. Beware spoilers if you are not up-to-date with the series so far, and with press reports about its future. Most of Downton Abbey's most [...]

Sun, 01 Mar 2015 10:56:00 -0600

As the world's press departed for Barcelona and MWC, Apple has invited them to a presentation on March 9th. Widely expected to be for the Apple Watch, not only does it keep the release of information under Apple's control but it also weakens the PR around devices announced at MWC.

Sun, 01 Mar 2015 03:54:00 -0600

Over the last decade, a permanent underclass of low-skilled workers has become a pernicious part of the American economic experience. The evidence is inescapable. According to the Programme for International Student Assessment (PISA), young adults in the U.S. have only slightly better skill sets than their parents or caregivers.

Sat, 28 Feb 2015 17:18:00 -0600

Deadheads everywhere, rejoice – tickets to the Grateful Dead’s 50th Anniversary concerts at Soldier Field this July are now on sale. Ticketmaster listed ticket prices ranging between $59.50 and $199.50 and all three concerts have already sold out quickly. The Fare Thee Well shows have already seen huge demand on [...]

Sat, 28 Feb 2015 14:48:00 -0600

Al Sharpton still owes millions in taxes but seems to live a charmed life, in and out of the White House. Even Politico asked outgoing Attorney General Eric Holder if Sharpton wasn't too close. Heck no.

Sat, 28 Feb 2015 13:30:00 -0600

Pinker is the author of ten books, including The Language Instinct, How the Mind Works, The Blank Slate, The Better Angels of Our Nature, and most recently, The Sense of Style: The Thinking Person's Guide to Writing in the 21st Century. It's no surprise, then, that he would have perhaps the clearest explanation of #thedress [...]

Wed, 25 Feb 2015 17:54:00 -0600

Five things you may think about hospice that aren't true.

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5 Chaldean Home Buying Power Tips
By Salam Abbo :: Wednesday, March 14, 2007 :: 11271 Views :: Article Rating :: Business & Finance

Michigan, USA - It is a seller’s market in many Chaldean concentrated states.    While the economy is doing great in states like Illinois, Nevada, Arizona, and California, Michigan’s economy continues to free-fall.  In Michigan the real estate opportunities are far and wide as the buyer market continues to heat up as homes are foreclosed, residents move out of the state, and businesses close.  Chaldeans can seize on the opportunity of depressed Michigan economy by finding and securing an undervalued piece of property. 

There are many advantages of becoming a home owner.  This includes the appreciation, tax benefits, a higher quality lifestyle, a more stable family life, and obviously the investment.

Chaldeans are able to better prepare themselves when planning to purchase a home.  For such occasions consider these 5 Chaldean home buying power tips.

1.  Understand your Debt-to-Income Ratio
When a lending company determines a Chaldeans’ ability to qualify for a mortgage, a lender looks at what is called the "debt-to-income" ratio. A debt-to-income ratio is the percentage of your gross monthly income (before taxes) that you spend on debt. This will include your monthly housing costs, including principal, interest, taxes, insurance, and homeowner’s association fees, college loans, and other forms of debt or recurring expenses. It will also include your monthly consumer debt, including credit cards, installment debt, and car payments.

For example, suppose you earn $5000 a month and you have a car payment of $400. Using an interest rate of 8.0%, you would qualify for approximately $55,000 less than if you did not have the car payment.

In short the debt-to-income ratio affects your buying power.  Your debt to income ratio is a simple way of showing what percentage of your income is available for a mortgage payment after all other debts are met. The ratio is one of the key things a lender considers before approving your home loan.
Conventional loans are sometimes expressed as debt limits like the 28/36 qualifying ratio. Those numbers refer to two percentages that are used to examine two factors of your debt load.

The 28% Number: (PITI)

This number indicates the maximum percentage of your monthly gross income that the lender will allow for housing expenses. The amount will include payments on the loan principal and interest, private mortgage insurance, hazard insurance, property taxes, and homeowner's association dues.

The 36% Number:

This number is for the recurring debt.  This is the maximum percentage of your monthly gross income that the lender will allow for housing expenses.  Recurring debt includes credit card payments, child support, car loans, and other obligations that will not be paid off within a relatively short period of time (6-10 months).

Doing the Math:

Yearly Gross Income = $45,000 / Divided by 12 = $3,750 per month income

$3,750 Monthly Income x .28 = $1,050 allowed for housing expense

$3,750 Monthly Income x .36 = $1,350 allowed for housing expense plus recurring debt.

Chaldeans should keep in mind that not all loans are the same.  For example, the FHA loan ratios are typically 29/41, allowing a higher debt load for both housing expenses and recurring debt.  This translates into FHA allowing $1087 for housing and $1538 for housing plus recurring debt.  For a VA loan, the debt to income ratio should not exceed 41% of your monthly gross income.

2.  No Major Purchase of Any Kind
Even if you feel you can afford a major purchase like a new car, the car payment will impact your ability to purchase a higher valued home.  Remember mortgage companies approve your mortgage based on their guidelines, not yours. Do not get discouraged, however. You should still take the time to get pre-qualified by a lender.

However, if you have not already bought a car, remember one thing. Whenever the thought of buying a car enters your mind, think ahead. Think about buying a home first. Buying a home is a much more important purchase when considering your future financial well being.

3.  Don’t Move Money Around
When a lender reviews your loan package for approval, one of the things they are concerned about is the source of funds for your down payment and closing costs. Most likely, you will be asked to provide statements for the last two or three months on any of your liquid assets. This includes checking accounts, savings accounts, money market funds, certificates of deposit, stock statements, mutual funds, and even your company 401K and retirement accounts.

If you have been moving money between accounts during that time, there may be large deposits and withdrawals in some of them.

The mortgage underwriter (the person who actually approves your loan) will probably require a complete paper trail of all the withdrawals and deposits. You may be required to produce cancelled checks, deposit receipts, and other seemingly inconsequential data, which could get quite tedious.

Perhaps you become exasperated at your lender, but they are only doing their job correctly. To ensure quality control and eliminate potential fraud, it is a requirement on most loans to completely document the source of all funds. Moving your money around, even if you are consolidating your funds to make it "easier," could make it more difficult for the lender to properly document.

So leave your money where it is until you talk to a loan officer.

Oh…don’t change banks, either.

4.  Changing Jobs May Affect Home Buying Power
For most people, changing employers will not really affect your ability to qualify for a mortgage loan. For some homebuyers, however, the effects of changing jobs can be disastrous to your loan application.

Salaried Employees
If you are a salaried employee who does not earn additional income from commissions, bonuses, or over-time, switching employers should not create a problem. Just make sure to remain in the same line of work.  Hopefully, you will be earning a higher salary, which will help you better qualify for a mortgage.

Hourly Employees
If your income is based on hourly wages and you work a straight forty hours a week without over-time, changing jobs should not create any problems.

Commissioned Employees
If a substantial portion of your income is derived from commissions, you should not change jobs before buying a home. This has to do with how mortgage lenders calculate your income. They average your commissions over the last two years.

Changing employers creates an uncertainty about your future earnings from commissions. There is no track record from which to produce an average. Even if you are selling the same type of product with essentially the same commission structure, the underwriter cannot be certain that past earnings will accurately reflect future earnings.

Changing jobs would negatively impact your ability to buy a home.

Bonuses
If a substantial portion of your income on the new job will come from bonuses, you may want to consider delaying an employment change. Mortgage lenders will rarely consider future bonuses as income unless you have been on the same job for two years and have a track record of receiving those bonuses. Then they will average your bonuses over the last two years in calculating your income.

Changing employers means that you do not have the two-year track record necessary to count bonuses as income.

Part-Time Employees
If you earn an hourly income but rarely work forty hours a week, you should not change jobs. There would be no way to tell how many hours you will work each week on the new job, so no way to accurately calculate your income. If you remain on the old job, the lender can just average your earnings.

Over-Time
Since all employers award overtime hours differently, your overtime income cannot be determined if you change jobs. If you stay on your present job, your lender will give you credit for overtime income. They will determine your overtime earnings over the last two years, then calculate a monthly average.

Self-Employment
If you are considering a change to self-employment before buying a new home, don’t do it. Buy the home first.

Lenders like to see a two-year track record of self-employment income when approving a loan. Plus, self-employed individuals tend to include a lot of expenses on the Schedule C of their tax returns, especially in the early years of self-employment. While this minimizes your tax obligation to the IRS, it also minimizes your income to qualify for a home loan.

If you are considering changing your business from a sole proprietorship to a partnership or corporation, you should also delay that until you purchase your new home.

5. Delay Buying a Home in Certain Circumstances
Assuming you have the financial resources and the desire to eventually own your own home, there are very few good reasons to put off the purchase. You can miss out on years of appreciation if you do.

The main thing you want to avoid when buying a home is being put in a position where you will have to sell it too soon. If you have to sell a home before it has appreciated enough to cover the costs and commissions of selling, you could find yourself in a financial bind. This is especially true for those who buy a home with a down payment of ten percent or less.

Real Estate commissions traditionally run around six percent of a home’s sales price. The seller’s closing costs generally come to about one and a half percent. You can see how this can easily exceed the first year’s appreciation. If you made a minimal down payment, you could actually have to come up with cash out of pocket to sell your home.

New to the Area
Chaldeans are becoming more mobile and moving from one state to another.  Especially in Michigan where the economy has become deplorable and with governor Granholm talking about raising taxes the state can expect harsher economic conditions.  

Before moving into a new state you might want to get as much information as possible.  If it is another strongly concentrated Chaldean state you might want to contact the nearby church and speak with members of the parish council to get some insight. 

It makes sense to rent for a number of months before deciding on exactly where you want to live.  Taking out an ad in the church newsletter or contacting a realtor in the area to help identify a rental option before purchasing a new home is always a very smart move.  

Uncertain Job Future
You could be right out of college or expecting a promotion and a transfer. Or your company has announced an impending "restructuring." If any of these apply, it might be best to wait to buy a home. When you have a more accurate picture of what your next few years will be like, that will be the time to buy.

Marital Problems
Real estate agents see a lot of life unfold before their eyes. One of the saddest occurs when former clients divorce and are forced to sell a recently purchased house. It happens all too often when a family in turmoil decides that buying a new home may help resolve their problems. Perhaps it is inevitable that such problems occur, but selling a home before it appreciates can create an additional financial burden in an already difficult situation.

 


 

 Salam Abbo is a Century 21 realtor, who has achieved the prestigious 10 million dollar sales club.  The sales club honors realtors who have demonstrated leadership in real estate measured by their sales.  Mr. Abbo lives and works in Michigan with real-estate partnerships in Chicago, Phoenix, and San Diego.  Mr. Abbo has been married for over 25 years and has three college educated children.