35 year amortization is available from most lenders. If you would like to speak to someone about more info please call us. Abraham Niyazi - Mortgage Agent - Easyrate.ca - 416-993-4082

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The apartment building i reside in became a condo conversion 3 years ago and i purchased one, but after 3 years it is still 90% renters and the property owner shows no signs of effort to get more owners in the building. it really hampers my resale and appears the only way out is taking a big loss which isn't in the cards.

You say you now own the condo. If you no longer want to own the condo- you would have to sell the condo. If you think the sellers committed fraud in some way you may can force them (thru a lawsuit) to buy the condo back from you- but it would always be a sale.

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1. is it possible to make up 40 to 50% profits on an investment and how long does it take? 2. if it is not the case, what would be the commissions taken by the intermediaries? 3. is it needed to prove the provenance of the funds? if yes, it is as complicated that to invest with a federal trader? 4. do we have to be an institutional investor? 5. is it possible to put together a pool of investors? 6. beside the money, do we have to spend time in putting the deal together? 7. where will the properties be purchased? 8. is it possible to resale these properties very quickly? 9. is there a heavy taxation by the state and federal if we resale the real property in less that 5 years, especially if we are not a realtor?

First off, your inquiry is multiple questions in one... However I would try and answer as many as possible to the best of my abilities 1. Anything is possible but there is no guarantee you would earn 40 to 50% on your R/E investment. It would also depend which real estate market you're interest/investing in. For example in California where property values traditionally return higher dividends to investors than the rest of the country, in a relative hot market the norm is between 20 to 30%. Presently the real estate market nationwide is flat... In short--there is no guarantee.... 2. Cant answer this questions...it varies depending on services rendered 3. No need to prove source of funds.... 4. I dont think so.... 5. Again, anything is possible. In fact there are companies that specialize in doing just that. I personally dont like the idea for I like to have control over my investments..too many people, even with a legal contract, too many headaches. 6. Buying a piece of property, once you have identify market and property to purchase, is a relative simple task...at lest for american citizens it is. Now to roganize a group of investors I suppose it would be more expensive and time consuming. 7. that's utterly up to the individual investor.... 8. It's possible but it depends on lots of factros; location, market, price, etc. It's possible but no guarantee... 9. There are too many, complex tax rules to give a simple answer... I would suspect that capital gains, specially if you are a foreign investor, could be in the 25%, give or take. I hope I were able to give you a ball park answer to all your questions. My honest advice to you: Consult with an international real estate attorney before investing. Best of luck.

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I'm considering to purchase a home or condo and trying to figure out which is my best option. i'm not looking to marry minimum 5 years. trying to find the best in resale value; looking for as an investment. affordability i was considering to buy a home up to $650,000 (location yorba linda, fullerton, orange, 2400 min sq ft 2 stories w/ baltic ceilings, 4 bdrm, 3 baths, etc) but was starting to think if i should just go for something smaller and spend up to $450,000 and get a decent location such as long beach (1000-1200 sq ft, 2 bdrm, 1 bath, luxurious maybe type condo with ocean view hopefully). when looking at condo fees and buying a home without hoa fees, for location such as southern california, would it make sense to buy now a condo or house or wait on both with the influx of new foreclosures supposedly occurring next year? my living situation now is at home with parents and i want to buy a property that will maintain value in the next 5/7 years. additional info: originally putting down 40% but will do 20-30% and use 2010 tax year with higher income to get loan.

You don't mention downpayment. You will need at least 10% down. 20% down will avoid that nasty PMI which is like throwing away thousands a year . Wise words: Buy something small as your first home. Pay it off in full, and then move to a larger home...

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Mar 1joan also invests her used vehicle into the business. she estimates that its fair value is $15,000. joan estimates that the vehicle will be useful to the business for four years, at which time its residual value will be $3,000. it will only be used for business purposes. mar 1joan signs a two year lease with dungaree property management for the use of a space for her show room and warehouse storage. the show room represents half the leased area. the lease is effective march 1, 2009. occupancy will begin immediately, and the amount paid for the lease is $48,000. mar 1joan needs to acquire general liability insurance and protect her inventory. she purchases an insurance policy for the business from rpc insurance brokers for $6,000. the term of coverage is march 1, 2009 to february 28, 2010. she hires a security company to monitor the premises after-hours. they will invoice quarterly. mar 2joan purchases a computer system and software for her business. the system costs $12,000, which joan financed with a two year note payable. interest on the note will be paid every three months at an annualized interest rate of 9%. joan estimates that the computer equipment will be useful to the business for five years, at which time its residual value will be $0. mar 2joan purchases used shelving and racks costing $5,000 from bgh library services. bgh offers credit terms of 1/15, net 30. joan estimates this store equipment will be useful to the business for four years, at which time its residual value will be $1000. mar 2joan purchases on account from grand & toy $500 of office supplies. mar 3joan purchases on account from a manufacturer 20 desks with hutch bookcases at a cost of $1000 each, 20 oak credenzas at a cost of $400 each, and 40 art prints at $200 each. the manufacturer offers credit terms of 2/10, net 30 to its customers. joan picks up the inventory from their warehouse in north east calgary, and transports it to her show room. mar 5joan purchases on account from another wholesaler 100 sets of the latest anti-glare monitor covers and document stands. these items of inventory had a total cost of $10,000. the wholesaler offers credit terms of 3/5, net 30 to its customers. joan picks up the inventory from the wholesaler’s warehouse in south east calgary, and transports it to her show room. mar 10joan records one journal entry for the sales from the first week of business. all of the sales were cash sales, except for a large sale on mar 9 to spaces direct co. on credit. cash sales totalled $10,000. the list price of the sale to spaces direct co. is $4,800, but they are given a 10% trade discount. the cost of the inventory sold was $12,000. mar 12joan interviews and hires a salesperson, cheech marin, to provide in-store sales. tim will begin working on thursday mar 12, and will work three days a week (thursday through saturday) at a salary of $150/day (assume no source deductions). pay day will be every second saturday beginning saturday mar 21, and will include all days worked up to and including the day of pay. mar 14spaces direct co. returns some pieces from the purchase on mar 9 (wrong colour). joan issues a credit memo to them for the $1,400 price of the furniture (original cost of $800). they are then placed back on display for resale. mar 17joan records one journal entry for the sales from the second week of business. all of the $18,000 sales were for cash. the cost of the inventory sold was $10,000. mar 19payment is received from spaces direct co. for the final amount owing for the mar 9 credit sale. mar 22payments are made to grand & toy and bgh for the mar 2 purchases. mar 24joan records one journal entry for the sales from the third week of business. all of the $4,200 sales were for cash. the cost of the inventory sold was $2,400. mar 21cheech is paid his wages for his first two weeks of employment. mar 28joan receives a payment of $2,000 from a local medical centre for wall hangings to be supplied in early may. mar 31joan records one journal entry for the sales from the fourth week of business. all of the sales were cash sales, except for a large sale on mar 29 to spaces direct co. on credit. cash sales totalled $5,600. the list price of the sale to spaces direct co. is $2,800, but they are given a 10% trade discount. the cost of the inventory sold was $4,800. mar 31joan withdraws $1,000 cash for her personal use additional march 31 adjusting entry information 1.a count of office supplies reveals that $410 of supplies remain in stock. 2.joan estimates that the security service bill for march will be approximately $350.

can u make your sentence smaller so i can understand it?

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8-1a for each of these five separate cases, identify the principle of internal control that is violated. recommend what the business should do to ensure adherence to principles of internal control. 1. heather flatt records all incoming customer cash receipts for her employer and posts the customer payments to their respective accounts. 2. at netco company, jeff and jose alternate lunch hours. jeff is the petty cash custodian, but if someone needs petty cash when he is at lunch, jose fills in as custodian. 3. nadine cox posts all patient charges and payments at the p-town medical clinic. each night nadine backs up the computerized accounting system to a tape and stores the tape in a locked file at her desk. 4. barto sayles prides himself on hiring quality workers who require little supervision. as office manager, barto gives his employees full discretion over their tasks and for years has seen no reason to perform independent reviews of their work. 5. desi west’s manager has told her to reduce costs. desi decides to raise the deductible on the plant’s property insurance from $5,000 to $10,000. this cuts the property insurance premium in half. in a related move, she decides that bonding the plant’s employees is a waste of money since the company has not experienced any losses due to employee theft. desi saves the entire amount of the bonding insurance premium by dropping the bonding insurance. 8-3a inoke gallery had the following petty cash transactions in february of the current year: feb. 2 wrote a $300 check, cashed it, and gave the proceeds and the petty cashbox to bo brown, the petty cashier. 5 purchased bond paper for the copier for $10.13 that is immediately used. 9 paid $22.50 cod shipping charges on merchandise purchased for resale, terms fob shipping point. metro uses the perpetual system to account for merchandise inventory. 12 paid $9.95 postage to express mail a contract to a client. 14 reimbursed alli buck, the manager, $58 for business mileage on her car. 20 purchased stationery for $77.76 that is immediately used. 23 paid a courier $18 to deliver merchandise sold to a customer, terms fob destination. 25 paid $15.10 cod shipping charges on merchandise purchased for resale, terms fob shipping point. 27 paid $64 for postage expenses. 28 the fund had $21.23 remaining in the petty cash box. sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures. the fund amount is also increased to $400. required 1. prepare the journal entry to establish the petty cash fund. 2. prepare a petty cash payments report for february with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense. sort the payments into the appropriate categories and total the expenditures in each category. 3. prepare the journal entries for part 2 to both (a) reimburse and (b) increase the fund amount. 8-4a the following information is available to reconcile clark company’s book balance of cash with its bank statement cash balance as of july 31, 2005: a. after all posting is complete on july 31, the company’s cash account has a $26,193 debit balance, but its july bank statement shows a $28,020 cash balance. b. check no. 3031 for $1,380 and check no. 3040 for $552 were outstanding on the june 30 bank reconciliation. check no. 3040 is listed with the july canceled checks, but check no. 3031 is not. also, check no. 3065 for $336 and check no. 3069 for $2,148, both written in july, are not among the canceled checks on the july 31 statement. c. in comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check no. 3056 for july rent was correctly written and drawn for $1,250 but was erroneously entered in the accounting records as $1,230. d. a credit memorandum enclosed with the july bank statement indicates the bank collected $9,000 cash on a noninterest-bearing note for clark, deducted a $45 collection fee, and credited the remainder to its account. clark had not recorded this event before receiving the statement. e. a debit memorandum for $805 lists a $795 nsf check plus a $10 nsf charge. the check had been received from a customer, jim shaw. clark has not yet recorded this check as nsf. f. enclosed with the july statement is a $15 debit memorandum for bank services. it has not yet been recorded because no previous notification had been received. g. clark’s july 31 daily cash receipts of $10,152 were placed in the bank’s night depository on that date, but do not appear on the july 31 bank statement. required 1. prepare the bank reconciliation for this company as of july 31, 2005. 2. prepare the journal entries necessary to bring the company’s book balance of cash into conformity with the reconciled cash balance as of july 31, 2005. analysis component 3. assume that the july 31, 2005,

1. Heather Flatt records all incoming customer cash receipts for her employer and posts the customer payments to their respective accounts. Principle violated (PV) : Separate recordkeeping from custody of assets If Heather handles receipts from customers, someone else should do the recording. 2. At Netco Company, Jeff and Jose alternate lunch hours. Jeff is the petty cash custodian, but if someone needs petty cash when he is at lunch, Jose fills in as custodian. PV : Establish responsibilities. Set a rule that there will be no petty cash payments when Jeff is at lunch. If this is not possible, Jeff and Jose should count the cash together when Jeff goes for lunch and when he returns, so that it can be established who paid what out and if the books balance properly during Jose’s shift. 3. Nadine Cox posts all patient charges and payments at the P-Town Medical Clinic. Each night Nadine backs up the computerized accounting system to a tape and stores the tape in a locked file at her desk. PV : Apply technological controls The back up should be in the form of something more advanced than a tape and it defeats the purpose if the computer and back-up are in the same room. In the case of a fire, both would get caught. The back-up should preferable be in another location. 4. Barto Sayles prides himself on hiring quality workers who require little supervision. As office manager, Barto gives his employees full discretion over their tasks and for years has seen no reason to perform independent reviews of their work. PV : Perform regular and independent reviews. Barto should perform regular and unannounced reviews to ensure that his instructions are being followed and controls are being adhered to. He should also bond employees. 5. Desi West’s manager has told her to reduce costs. Desi decides to raise the deductible on the plant’s property insurance from $5,000 to $10,000. This cuts the property insurance premium in half. In a related move, she decides that bonding the plant’s employees is a waste of money since the company has not experienced any losses due to employee theft. Desi saves the entire amount of the bonding insurance premium by dropping the bonding insurance. PV : Insure Assets and Bond Key Employees. Desi should not decide by herself to raise the deductible. She should just submit the proposal to do so to her manager and let management decide. In addition, she should reinstate the bond on the employees.

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Problem 8-1a for each of these five separate cases, identify the principle of internal control that is violated. recommend what the business should do to ensure adherence to principles of internal control. 1. heather flatt records all incoming customer cash receipts for her employer and posts the customer payments to their respective accounts. 2. at netco company, jeff and jose alternate lunch hours. jeff is the petty cash custodian, but if someone needs petty cash when he is at lunch, jose fills in as custodian. 3. nadine cox posts all patient charges and payments at the p-town medical clinic. each night nadine backs up the computerized accounting system to a tape and stores the tape in a locked file at her desk. 4. barto sayles prides himself on hiring quality workers who require little supervision. as office manager, barto gives his employees full discretion over their tasks and for years has seen no reason to perform independent reviews of their work. 5. desi west’s manager has told her to reduce costs. desi decides to raise the deductible on the plant’s property insurance from $5,000 to $10,000. this cuts the property insurance premium in half. in a related move, she decides that bonding the plant’s employees is a waste of money since the company has not experienced any losses due to employee theft. desi saves the entire amount of the bonding insurance premium by dropping the bonding insurance. problem 8-3a inoke gallery had the following petty cash transactions in february of the current year: feb. 2 wrote a $300 check, cashed it, and gave the proceeds and the petty cashbox to bo brown, the petty cashier. 5 purchased bond paper for the copier for $10.13 that is immediately used. 9 paid $22.50 cod shipping charges on merchandise purchased for resale, terms fob shipping point. metro uses the perpetual system to account for merchandise inventory. 12 paid $9.95 postage to express mail a contract to a client. 14 reimbursed alli buck, the manager, $58 for business mileage on her car. 20 purchased stationery for $77.76 that is immediately used. 23 paid a courier $18 to deliver merchandise sold to a customer, terms fob destination. 25 paid $15.10 cod shipping charges on merchandise purchased for resale, terms fob shipping point. 27 paid $64 for postage expenses. 28 the fund had $21.23 remaining in the petty cash box. sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures. the fund amount is also increased to $400. required 1. prepare the journal entry to establish the petty cash fund. 2. prepare a petty cash payments report for february with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense. sort the payments into the appropriate categories and total the expenditures in each category. 1.prepare the journal entries for part 2 to both (a) reimburse and (b) increase the fund amount. problem 8-4a the following information is available to reconcile clark company’s book balance of cash with its bank statement cash balance as of july 31, 2005: a. after all posting is complete on july 31, the company’s cash account has a $26,193 debit balance, but its july bank statement shows a $28,020 cash balance. b. check no. 3031 for $1,380 and check no. 3040 for $552 were outstanding on the june 30 bank reconciliation. check no. 3040 is listed with the july canceled checks, but check no. 3031 is not. also, check no. 3065 for $336 and check no. 3069 for $2,148, both written in july, are not among the canceled checks on the july 31 statement. c. in comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check no. 3056 for july rent was correctly written and drawn for $1,250 but was erroneously entered in the accounting records as $1,230. d. a credit memorandum enclosed with the july bank statement indicates the bank collected $9,000 cash on a noninterest-bearing note for clark, deducted a $45 collection fee, and credited the remainder to its account. clark had not recorded this event before receiving the statement. e. a debit memorandum for $805 lists a $795 nsf check plus a $10 nsf charge. the check had been received from a customer, jim shaw. clark has not yet recorded this check as nsf. f. enclosed with the july statement is a $15 debit memorandum for bank services. it has not yet been recorded because no previous notification had been received. g. clark’s july 31 daily cash receipts of $10,152 were placed in the bank’s night depository on that date, but do not appear on the july 31 bank statement. required 1. prepare the bank reconciliation for this company as of july 31, 2005. 2. prepare the journal entries necessary to bring the company’s book balance of cash into conformity with the reconciled cash balance as of july 31, 2005. analy

Please do your own work. You learn better that way./

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Question for investors: i'm looking at two properties (condos), they are sort of near each other. property a is in a new building, about one year old. it's 2 bedrooms, 2 bathrooms and can probably get about $1300-1400 in rent. it's still under warranty. property b is in an old building, nearing 30 years old. it's 3 beds/1 bath, and gets about $1200 in rent. it's also walking distance to a great growing new area where there is lots of urban activities. however, there are also lots of repairs to be done, and probably some special assessments will be made. property a is is about $50k more than property b. they have comparable maintenance fees and taxes. my thoughts are that the newer building will attract young professionals, perhaps people that are roommates (since it's a 2 bed/2 bath), and that the older building will attract a family (3 bed/1 bath). i'm thinking that the family may be a more stable income, but i don't know if that's a reasonable assumption. investors/landlords: which would you purchase and why? do you prefer at resale value or stable tenants? tenants: same question, which you you prefer and why? would you pay more for a newer building or for a more convenient area that's walking distance to lots of stuff and an extra bedroom but one less bathroom? thanks.

Location, location, location. You can fix up the building, can't change the neighbors. Your newer building may also attract single moms. Three bedrooms and 1 bath (at least for a house) is not as attactive for a family. Two baths are preferred.

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1. real estate is less risky than t-bills. 2. to value a cash flow that changes over time, it is better to use a npv calculation than a direct capitalization of the in-place noi. 3. cmbs is a form of cdo. 4. a property is purchased for $350,000. based on an annual growth rate of 3%, the resale value at the end of year 10 would be $456,671. 5. if a property owner borrows money at a rate that is higher than the equity yield rate, negative leverage exists. 6. the federal home loan mortgage corporation’s (fhlmc) primary purpose is to provide liquidity for conventional mortgage originators just as fnma and gnma did for originators of fha - va mortgages.

1. True 2. False 3. True 4. True 5. True 6. False