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How to Take Advantage of a Home Based Business Opportunity

Have you dreamed of being your own boss by having your own home based business opportunity? Have you dreamed of firing your present boss, of telling him/her that you found a better, easier way to make money? Best of all, you can do it in your pajamas, at home, while watching the kids and making enough money to cover all your expenses. It’s called home based business opportunity, or making money through your computer and the internet. All you need is a quiet corner of the house, a desk, a computer with broadband access and the self-discipline needed when nobody is pressuring you to finish the job.

The internet is full of various strategies to make money, some legitimate and some not so much. One of them is called Multi Level Marketing (MLM), a strategy that has existed long before the invention of the World Wide Web. This is a genuine home business opportunity as long as you make sure that it is legitimate and not a Ponzi scheme. MLM is called multi-level because it allows you to make money not only from your own sales, but also from the sales of other people under you, people you have recruited to do the selling of a direct selling company. They in turn recruit more people to do the same and pretty soon, you are making money from all these new folks.

Now many people are turned off by MLM or network marketing because of a perception problem. If you stop and looked at traditional businesses, you would actually see that those business models have many of the same characteristics. Although we don’t want to admit it, but most people work in a multi level type organization and don’t even realize it. Think about that statement for a minute. Every time your company sells a product or service, many people in the company are getting compensated for that sale. In other words, multiple people in various levels are getting paid.

The real and legal MLM enterprises pay you a commission on every sale, but not on people you bring to the group. However, they do allow you to earn an additional commission on what they, the new people, have sold. So, if you are really energetic and consistent, you’ll reach a point where you just sit at home and collect from the work of others. I know it sounds too good to be true. Imagine a genuine, legal and profitable home based business opportunity that will allow me to retire in the near future while I am still young. OK, so it’s not that easy, so here are a few tips to keep in mind while evaluating a network marketing company.

1. Carefully pick a product that you are familiar with.
2. Check the list of MLM companies that offer the product to make sure they are legitimate in every way.

a. Avoid brand new companies; go for those that have been in business several years (Preferably with 5 or more years). That tells you that they are probably quite legitimate.

b. Try to talk to existing distributors in your area (Google search). They can give you valuable information about the company.

c. Check and see if you can find customers testimonials.

3. Read the conditions very carefully before agreeing to start selling.
4. Investigate in your immediate environment whether the product has a market at the price offered by the MLM company.
5. Make a detailed list of every friend and acquaintances who might be interested in joining your team (Don’t include your immediate family unless they live 100 miles or more from you).
6. Make sure the MLM offers training and support (Most reputable companies do).
7. A good company will give you leads, that is people who are interested in buying the product in your area.
8. Again, the good MLM company already has a national marketing campaign, which means it has brand recognition, an important factor when you try to convince a client.

By far, the best home based business opportunity with the least financial risk is network marketing. The start up costs are minimal, however, the payoff can be substantial provided you are willing to invest the required time and energy to become successful. There are no short cuts to success. Treat your business like a real business and keep in mind the above 8 elements to minimizing your risk in starting a business.

Start a Home Based Business in Retirement? Part 1 – Will a Home Based Business Solve Your Problem?

Congratulations. You’re retired and you thinking about starting a home based business.

You’ve probably heard that at an Alcoholics Anonymous meeting each person gets up and starts his talk by saying, “Hello, I’m __________ and I’m an alcoholic.”

What they’re doing is admitting they have a problem, and they want help and support in solving it.

Well, now that you’re retired, you’re reading this because you have a problem, so say aloud “I’m retired, and I have a problem.” That’s right; the first step in solving your problem is to admit that you have a problem.

Perhaps your problem is:

  • Your retirement nest egg has been severely hurt by the drop in the stock market, or
  • You can’t afford to take the vacations you want to take, or
  • You have trouble paying your bills, or
  • You’re just bored.

Whatever your problem, you’re wondering whether starting a home based business is a solution for you, and if it is, which business opportunity should you select, and what do you have to do to make it successful enough that it solves your problem.

I started a home based business because my wife had a serious accident, and I needed to spend more time with her at home. I solved my problem by starting a home based business. Before making a decision, I thoroughly researched all the data available, so I could make an informed decision.

I spent months collecting data. Hopefully, by giving you the results of my search, you will find your answers in a much shorter time.Briefly, what I found out is that a home based business can be a way to solve your problem. A great many people are making a very good living from their home based business, but many, many more are not only not making money, they are losing money.

People lose money because they believe the hype that it is possible to make a lot of money in your spare time without any expertise and with very little expenditure of time and money. When they find out that this hype is a lie, they give up.

A home based business is like any other business. You can make a lot of money in a home based business, but like any other business, it takes hard work, marketing skills, and an investment of time and money.

Also, you can run a home based business part time, but you can’t run it in your spare time. You have to dedicate a specific amount of time to your business, and allocate that time to the various tasks that you must do to have a successful home based business.

The key to a successful home based business is (1) using modern marketing methods and (2) finding a mentor who will help you get started. If you do these two things, you can succeed in any opportunity you choose. However, for a retired person, some opportunities are better than others.

In succeeding articles, I will discuss these points in more detail.

As I said at the beginning, you probably are looking for help and support to solve your problem. If you want help in solving your problem, don’t hesitate to email me, and I will do my best to help you.

Refinancing Your Home – Best Tips For Wise Investment

There are several reasons why home owners may want to resort to refinancing their homes in the current real estate market. For instance, you may want to have a better mortgage that offers lower interest rates compared to your present home loan. It may happen especially when you purchased your property during the time when rates are higher or you have a mortgage plan that has adjustable rate loan and you wanted to obtain different terms. Whatever reason you may have as basis of refinancing your home, make sure that they generally make financial sense that will make your venture productive and hassle free.

As a general rule of thumb in the refinancing alternative, make sure that the current interest rate you are paying in your home loan is at least 2% higher than the prevailing and current market rate. If this is so, you are making a sound decision in refinancing your property given the balance between the costs you will deal with in the process of getting your house loan refinanced as to the savings implied.

Furthermore, make sure that you have a clear-cut plan and objective particularly on the length of time you will actually spend in the property. If you are planning to relocate within the next three years or less, then refinancing your home loan does not make any financial sense. Most studies and sources imply that it takes three years the least to fully materialize the savings you will get out of paying a lower interest rate in your refinancing option. It is important that you recoup the costs of mortgage refinance before you finally make another decision or plunge to another home buying investment.

In short, refinancing alternatives are only viable and good ideas that will work at its finest when you are intending to get out of the current high interest rates in your mortgage. It is also a very good option for those who are planning to stay in the house for a longer period of time. However, if you think that refinancing is not your cup of tea, then you may find loan modification options as a better choice.

If you are however seriously considering this option of refinance, then there are salient components you ought to learn and understand particularly the different costs of refinancing.

First and foremost, you are going to deal with the application fees just as you have done in your current or traditional loan application. This fee is the one that covers the charges that your lender imposes as to the initial costs in the process of requesting for this type of loan. They are also going to check your credit report and the fees incurred are inclusive in your application fees. Others are for the title search and insurance, origination and discount points fees, appraisal fees and the prepayment penalty in some cases or mortgage plans.

Home refinancing is one of the possibilities in the vast real estate industry. Weigh your options and make a sound decision to make this alternative highly effective and efficient for your investment.