Collecting on a Civil Suit

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The cardinal rule to all civil lawsuits: Don't sue unless you can collect the award. Unlike criminal law where the government can take your freedom or even your life, in civil law the only thing you can collect is property or cash, and the courts need to be able to access those tangible goods. So even if you win a million dollars in a damage liability suit with a homeless man, you will not see anything except his smiling face. People and business who are broke or can hide their assets are essentially impossible to collect from.

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Good signs that you can collect your judgement from someone are a job, money in the bank, and real estate property. Wages can be garnished, so the employer pays a percentage to you before the employee. In most states, you can garnish up to a quarter of a person's wages. Government payments, pensions and disability are exempt, so the person must make money on some non-exempt way for you to collect. Most people in the united states do not have significant assets in the form of property or cash. So in most Denver motorcycle accident cases, this is where you would be receiving your payment.

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Collecting from a legitimate business is usually relatively easy. If the company refuses to pay but is still collecting income, you can have the sheriff or other court agent go to the bank and physically take out the money owed. If the business is cash only, or doesn't have any real location you may be out of luck.

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The next thing that can be seized by the court is property. In many Denver personal injury cases you may be able to claim some of the defendant's property. However some possessions are exempt, especially those that the defendant uses for his business. A defendant in bankruptcy is also exempt from any claims. Denver accident attorneys are therefore more leery of suing someone without extra property outside the home.

So the key factors that indicate a person will be able to pay that you should check before suing are: Personal or future income and business income. Licensed professionals may lose their license if they do not pay, and recent bankruptcies cannot file for bankruptcy again for a long time, so people in both these situations may be compelled to pay.

Collecting on a Civil Suit

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Trends in Green Building and Sustainable Construction

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"Green Building" is a broad term used to describe the design and construction of sustainable and environmentally conscious buildings.

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The driving force behind this is to lower our negative impact on the environment and, at the same time, make the buildings we live and work in safer and healthier for us.

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According to the United States Green Building Council (USGBC) statistics, buildings are responsible for all of the following:

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39% of US carbon dioxide (CO2) emissions 70% of US electricity consumption 15 trillion gallons of water consumption

Even though there is still some controversy over the effect of greenhouse gases on the environment, the last two statistics are very important for those of us living in urban areas experiencing continuous growth, especially the American Southwest. With our population expansion, aging water and electrical infrastructure, and shrinking landfills, designing and constructing green and sustainable buildings makes practical sense from a utilitarian perspective.

In fact, USGBC data shows that green buildings use 36% less energy, require fewer raw materials, and divert less waste to our landfills. Furthermore, the "increased" cost of green building is only one or two percent more expensive than a conventional building. This minute difference exemplifies the tangible and long-term benefits of sustainable design, primarily due to the fact that green buildings conserve water and electricity. Thus, while they are more expensive to build, green structures will save money by conserving more energy over time.

Another push towards the green build movement is by local governments. More and more municipalities are adopting the USGBC LEED® (Leadership in Energy and Environmental Design) guidelines for new and renovated buildings. In 2006, at the USGBC Greenbuild expo, the Mayor of Denver challenged other major cities to see who can have the most LEED® certified green buildings. They are accomplishing this by offering tax breaks to private corporations and mandating sustainable construction for city-financed projects.

This has led to a dramatic increase in the number of sustainable projects built by LEED® Certified general contractors. However, this growth has not come without challenges. Currently, the following issues are restricting the number of green projects being built:

Increased demand for green products has lead to long lead times New and unspecified materials are labeled "green" products which are not necessarily certified Building officials are struggling with a steep learning curve on how to evaluate these new products and sustainable building techniques

Despite these difficulties, the USGBC, sustainability advocates, and green building construction management firms are meeting to overcome these challenges.

The LEED® process is constantly under review and continues to adopt the latest codes and products. This includes Standard 189, a new minimum standard for green building. The USGBC is currently developing LEED® 3.0 and working with national code writers to include new products and techniques.

The American Institute of Architects (AIA) has even rolled out a new initiative called "Sustainability 2030," which at its roots, is looking to design all buildings by the year 2030 as carbon neutral. The USGBC has even initiated the Green Advantage Builders Certification for contractors to certify their knowledge in green building techniques.

So what does green building mean at the end of the day? It's simple yet profound: Do the right thing for you, the environment, and the next generation. While most companies are concerned with their bottom line, they ought to embrace the idea that energy and water conservation, green building, and the use of "green materials" in construction stands to increase their savings over time while positioning them as a leader in environmental stewardship.

According to the USGBC, we spend 90% of our time indoors. Due to this fact, scientists have identified an increase in allergies, asthma, absenteeism from school, and even work. There have been numerous studies done on post occupancy productivity levels, which have increased within "green" built facilities. Not only does green adaptation result in less sick days taken, but also shows an increase in productivity, job
satisfaction, and in the case of schools, better grades.

So, as we positively affect the environment around us with sustainable green construction, we eventually create better health for ourselves.

Trends in Green Building and Sustainable Construction

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How to Sell Expensive Houses

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So, you have lived in a house for several years and are taking pride in a multitude of improvements, but now it seems to be overvalued. How can you sell such a house?

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When talking about the issue selling expensive houses, two scenarios exist:

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1) You have a house within a neighborhood that is expensive and you thus ask for prices similar to the homes that are around you. In this situation, you have to sell the expensive home in question through more traditional means, such as through FSBO listings or through realtors. The home has to be cleaned and then listed with multiple listing services. Open houses need to be undertaken and given advertising on the internet with photographs. Within today's market, you need to have the ability to move homes quite quickly.

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2) This scenario is a little more complex since you need to improve your house beyond values supported by the structures surrounding it. This can oftentimes happen if you live within a house for a substantial time period and make certain home additions like brand new floors, rooms and renovated kitchens. Homes within the neighborhood are all probably appraised for around 0,000; however, your additions need to make your house worth more than 0,000. This could be a problem since nobody will want to purchase the most expensive house on your block.

Your initial choice would be to hold onto your home, with hopes that neighbors will come around and improve their own homes. However, since this strategy is full of problems, you should probably avoid it.

The better choice would be to target your house to specific demographics. If you have added several rooms to the house, you have to produce advertisements that are directed at families with several children that would match the amount of bedrooms in the house. If you have driven yourself crazy with fixture and kitchen improvements, you need to market your house as a cheap luxury. The goal would be to transform any problem into unique selling positions for your home. There will definitely be buyers out there on the lookout for solutions to these problems.

If your home happens to be too improved, each possible sale might fall through since the appraised price could make things difficult for buyers to get loans. The ideal to deal with this would be to carry second mortgages on your house. By doing so, you will agree to take particular percentages of the overall price within payments over particular periods of time. This will allow buyers to live in the house as you leave. If you take this direction, you need to ensure that you make use of lawyers to ensure that everything is actually legal.

Selling expensive houses can be challenging, but it can be done.

How to Sell Expensive Houses

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The Buy First - Sell First Dilemma

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Unfortunately, the smooth transition from selling one house and buying another involves more luck than science. Do you list your home and risk selling it before you have a new one to move into? Or, do you buy first, produce a costly down payment, and then nervously wait to sell your home; praying all the while that you won't get burdened with two mortgages.

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Neither scenario paints a perfect picture, but there are measures you can take to help get you through this difficult situation.

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Conditional offer: When buying first, a common strategy is to place a contingency clause in the offer; whereby stating the purchase is conditional upon the sale of your current property, within a specified time. Not fool proof, a conditional offer has some disadvantages. It runs the risk of being rejected by the seller for a more favorable unconditional offer. Also, your offer remains in place until the end of the period you specify, and if a better deal comes along in the interim, you have to wait until this offer expires before you can go for it.

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Be prepared: As soon as you have the vaguest notion that you want to move, start getting ready. Begin cleaning out the closets, de-cluttering, and make a list of all the necessary repairs and start whittling away at it.

Enlist a realtor: Make an appointment with some real estate agents and find one that you feel comfortable working with. The agent will give you a good idea of the selling price you can realistically expect, so you can determine your buying range. Once that is decided, the two of you can begin looking for your dream home.

Get off the fence: Decide whether you will simultaneously list your home and shop for the new one. If so, you may risk buying the new place, and having to carry two mortgages because the existing home is not sold. Do you have the emotional and financial well being to deal with that situation? If so, begin working on a game plan to help minimize the risks and stress in this situation.

Call your happy bank manager: Contact the bank, explain your situation and explore your options regarding a bridge loan or home equity loan to help you finance a down payment for the new place.

Minimize delays: Is your home an easy sell, if not, determine what steps need to be taken to prevent selling delays. Are you listing it at a realistic price, or are there any unique features about your home or repairs needed that may inhibit a quick sale?

Selling first has its perks: If lending requirements demand that you sell first, this option does come with some benefits. At least when you sell your home first, you'll know exactly what price range you can buy into. During negotiations, you'll be in a stronger position to place an unconditional offer, which is much more likely to be accepted by the seller than an offer that has a contingency attached to it.

How do you get along with your mother-in-law?: Be prepared for the possibility of moving out of your house sooner than you'd like, and start looking into alternate housing arrangements. Explore the possibility of bunking in with a friend or relative, or research the availability of furnished, short term rentals. Acquaint yourself with the pricing for storage facilities in your area. Many moving companies will offer a storage arrangement as well.

A home transaction can be an overwhelming, stressful situation, but by having your home ready for sale and knowing your options, you'll be better prepared and feel more in control. You'll be glad you did when the unexpected happens; especially in the event that your dream listing suddenly appears and you are faced with the choice to buy first or sell first!

The Buy First - Sell First Dilemma

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Checkbook IRA LLC Investing Guidelines - Part Two

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Real Estate as an Alternative Asset or Non-Traditional Asset

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Real Estate Investing-The Most Popular

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There are many reasons why real property is the most popular self-directed IRA investment. To mention a few:

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Familiarity-everyone lives in some sort of dwelling and has some first-hand experience with detached single-family houses, townhouses, row houses, condominiums, and apartments. Because of this first-hand knowledge and experience, taking the investing step probably feels safer.

Proximity-real estate is near-by. We can view it and examine it quickly and conveniently. We have personal experience with the neighborhoods and the cities. They are local and we are local.

Uncomplicated-because we are familiar with some type of real property, we have less to learn when we transition for being an occupant to being an owner/investor. We do not have to start at a zero understanding level. Essentially, we already understand some things, but not everything, about location, property taxes, hazard insurance, repairs and maintenance, and payments and expenses.

Variety-there are probably more types of properties to be considered as potential investments then any one investor could ever need or understand. Listed below are a few:

Single family houses

Multifamily properties

Raw land

Farm property

Resort property

Mobile Homes

Retail property

Industrial property

Self-storage property

International real estate

Limited Liability Companies containing real estate

Foreclosed real estate

Franchised business containing real estate

Professional Advise and Consulting-local real property professionals that specialize in specific types of properties are readily available for consultations. Usually, it is more comfortable to deal with a local professional on a face-to-face bases, rather than dealing with a distant advisor. Often, investment opportunities become available through or with a professional advisor or consultant. Being an investor in a property structured by a professional can be an excellent way to learn and to diversify your self-directed IRA investments.

Rental Property Advantages for Self-Directed IRA Investing

Right now, renting housing units, being a landlord, for single family or multi-family properties is providing excellent cash flow returns in many geographic areas. The main reasons for this situation relate to:

High unemployment rates

High foreclosure rates

High mortgage delinquency rates

High loan qualification requirements needed to be approved for a new loan

Because of these obstacles, many people who previously would have bought a home are now in the rental market. Additionally, the average price of homes has declined over the past three years, making them a better investment value.

Essentially, house prices have declined while rental price levels have increased.

This has set the stage for excellent rental cash-flow returns for the self-directed IRA investor.

How to Invest And Benefit From Very Favorable Situation

Be a solo, hands-on investor. Buy and own a rental property by yourself and manage it by yourself.

Option: outsource the property management

Be an investing partner with another hands-on investor. Buy and own a rental property with a partner and manage it with the partner.

Option: outsource the property management

Be a passive investor in a pool of rental properties that are professionally managed and administered.

Words of Wisdom

Success usually comes to those who are too busy to be looking for it.

Henry David Thoreau

Success in business requires training and discipline and hard work. But if you're not frightened by these things, the opportunities are just as great today as they ever were.

Rockefeller

An education isn't how much you have committed to memory, or even how much you know. It's being able to differentiate between what you do know and what you don't.

Anatole France

Checkbook IRA LLC Investing Guidelines - Part Two

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Promissory Note Investing - Principles And Tips

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Because of the uncertainty of the stock market, many investors are looking for safer and more predictable ways to invest their money. Promissory Note investing, which is also know as Private Money Investing, and Hard Money Investing, offers an individual the opportunity to earn safer, more predictable, and higher returns on their money.

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Promissory Note investing is fairly low risk because the loans are backed by the appraised value of the collateral security plus the promise to pay of the borrower. Generally, the loans are conservative--at about 65% of the appraised value of the security. In case of a foreclosure, the property is sold to recover the funds. The borrower's promise to pay and credit provide an additional measure of protection and an exit strategy. Additionally, hazard policies (fire, hail, wind) are insuring the property. The title to the property and the note holder's interest is also covered by insurance-title insurance and lender's insurance. This is the correct way that the investment is structured.

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Private Mortgage Notes provide borrowers with an alternative to traditional bank financing for real estate properties. A borrower may not want to pursue bank financing due to time constraints, credit worthiness, or other factors, so they look for individuals or groups to finance their investment. Investors/lenders will take on the risks of lending, and in exchange, will receive a higher than normal interest yield on their investment.

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Yields for private mortgage notes are generally higher than the traditional investments available. Return rates of 9% to 15% are typical. The more risk the lender is willing to accept, the higher the return expected. Generally, you want to be listed as the first position lien holder on the property-the first mortgage. You should fully understand the circumstances of a particular note investment before determining the amount of risk you are willing to accept. Take your time and get all of the information that you need.

As in any successful business, being in the promissory note investing business requires that certain important contacts are developed, and certain important skills are acquired.

Promissory Note Investing Tips

Plan
• Plan your cash needs and cash availability
• Plan your time requirements-learning and training time, networking time, personal time
• Plan your business development schedule-develop target dates and target goals

Skills
• Understand the meaning of key words in the loan documents
• Understand the legal terms used in the note business
• Understand the numbers used in calculating investment returns and expenses
• Understand your legal responsibilities
• Understand the borrower's legal responsibilities
• Understand the foreclosure process in your state
• Understand risk in general, and note investing risk in particular

Contacts
Build business relationships with people you can trust
• Investors that you can share ideas with
• Investors that can provide some guidance and knowledge
• Mortgage brokers
• Realtors
• Title insurance companies
• Real estate appraisers
• House inspectors
• Attorneys that specialize in real estate law
• Promissory note experts who advise and consult on notes

Remember, you are probably investing all or almost all of your net worth. You may be also investing other people's money-people that trust you and that you do not want to disappoint. You are making serious decisions that have important present and future impacts on your life and on the lives of others.

Don't take short-cuts; don't hurry; don't over-reach; don't over estimate your own capability and experience.

"Investing should be more like watching paint dry or watching grass grow. If you want excitement, take 0 and go to Las Vegas."
Paul Samuelson

Even though good experienced, professional advice and service costs money upfront, it will save you a whole lot more on the back-end of the investment. Five-hundred dollars spent upfront to structure a deal right may save you ,000 on a back-end.

Promissory Note Investing - Principles And Tips

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Promissory Notes For Building Wealth Gradually

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WEALTH BUILDING GRADUALLY

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Promissory notes are great tools for building wealth because they are available in just about any amount, any interest rate, any duration, and any risk factor. They can be individually created and tailored to specific needs and circumstances; they can be purchased individually or in groups; they can be bought for all cash, they can be used as collateral security and borrowed against; they can be bought for a combination of cash and debt. One of the main reason promissory notes are acquired is to provide a portion of, or all of, the income needed for financial independence. A simple definition of financial independence is having enough passive income to cover all of one's living expenses; not having to go to work to pay one's living expenses.

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Having ,000 invested in a 7% annual interest promissory note amortized over fifteen years provides .88 per month for 180 months; ten similar notes will provide 8.83 per month. This shows how, by taking small investment steps, a substantial monthly income can be created over time.

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WHO ARE THE PLAYERS AND WHAT DO THEY DO?

In order to understand the promissory note business it is necessary to become acquainted with main players. The players described next are "institutional entities" or professionals. But, at the private party level (the little guys level), all of their functions are duplicated-but on a much smaller scale-by private players. Essentially, there are four main parties involved:

Lender-originates the note and is the party that injects the original cash into the business. The lender can be a commercial bank, a credit union, a savings and loan association, or a private party. the lender normally structures the terms and conditions of the note to be mutually acceptable to the borrower and itself.

Borrower-is the party who needs the cash. The borrower adds value to the note by pledging his personal credit-promise to pay-and some of this property as collateral security guaranteeing the repayment of the loan.

Note Dealer-sometimes called the "secondary market"--buys the note from the original lender. The cash from this purchase goes back to the original lender and replenishes its cash and allows it to make another new loan to another borrower. Usually, the note dealer does not hold the promissory note but, immediately sells it.

Investor-pays the note dealer cash for the note and holds it long-term for its income and cash flow benefits. Institutional investors are life insurance companies, casualty insurance companies, pension plans, mutual funds, and closed-end funds.

HOW THIS TRANSLATES INTO THE PRIVATE PARTY PROMISSORY NOTE ARENA

We can easily transfer the above institutional promissory note information into the private party promissory note arena by using a common example: "A" (Lender) sells his real estate property to "B" (Borrower) and carries back a seller financed promissory mortgage note; "D", (note dealer), arranges a sale of the note to "I", (Investor) the private party investor.

TYPES OF PROMISSORY NOTES AVAILABLE TO PRIVATE PARTY INVESTORS

There are many different types of notes available to private party investors. They are available in many different sizes, with many different interest rates, and many different maturities. Following are examples: Real estate secured promissory notes-single family houses, multi-family properties, vacant land, small commercial properties, small industrial properties, etc.

Contracts secured by real estate-installment land contracts, leases, etc

Automobile notes Mobile home notes Divorce notes Partnership dissolution notes Business sale notes Cemetery Pre-Need Contracts Equipment leases

The above list, though not all-inclusive, certainly indicates the broad assortment of promissory notes available to the private party investor. All of these notes can be bought with face amount annual interest rates ranging between 5% and 10%; it is very common for these types of notes to sell at a discount from their face amount. The mathematical effect of the discount is to increase the effective interest rate above the face rate. Usually, when purchased at a market rate discount, these types of notes will yield the buyer 9% to 19%.

SUMMARY

There are few opportunities available today for the small investor-the little guy-to earn 5% to 19% on their money! Promissory note investing should be at the top of every small investor's list!

Promissory Notes For Building Wealth Gradually

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