Building a Real Estate Portfolio on Limited Income

Here’s a question: Is real estate investing only reserved for a small percentage of “fat cats” who were born into money or is the “average Joe” able to participate in portfolio building? Of course we know that people of many income brackets participate in real estate every day.

The question is: Can people on a limited income buy investment real estate? The answer is… yes! Now of course that answer comes with an asterisk as there are many factors which contribute to a successful purchase.

Earlier in my former life as a professional musician, I was told if I could master the art of playing jazz music, then every other kind of music would be easy to learn. This proved to be exactly true and I enjoyed a long career mastering many styles of music. By the same token, if we can understand how to acquire real estate with an extremely limited income, we can probably become very successful when we have a larger budget to work with.

Let’s put this theory to the test and see if someone on minimum wage can successfully purchase real estate. Minimum wage earners at the current Canadian average of $10.25/hour make about $21,320 annually. This can be challenging when looking to qualify for a mortgage, however it is possible… you have to pick the right property and be suitably prepared for financing.

Let’s build a few scenarios outlining what anyone, including a low income earner must undertake to be properly positioned for both mortgage qualification as well as options available to build more portfolio.

Presentation

I have seen numerous financial portfolios of real estate investors over the years through my work as a mortgage broker. One of the most common factors contributing to an investor’s inability to acquire more property comes down to lack of financial preparation and presentation for a lender.

Canadian E Commerce Web Hosting

Online purchases in Canada totaled about $8.5 million Canadian dollars in 2004. Most of these items included books and reservations for travel and lodging. Only thirty-six percent of Canadian businesses have a website presence. The adoption for small, medium, and large businesses is slowly increasing at a rate of two to three percentage points. The rapid advances in technology have resulted in consumer confidence in private data protection, increasing the online sales.

E-commerce is a way of doing consumer-oriented business transactions over the Internet. This is actually retailing in the Internet format. Just as in a supermarket, online consumers choose products by navigating the site along the categories of products and make payments online using credit cards. The products are then delivered within a certain period.

Web hosting is one of the links in the e-commerce process. The chain is formed by different links such as websites, shopping processes, credit card processing, and merchant accounts. Websites are hosted by an external provider or perhaps the business itself. The shopping process is actually a shopping cart that allows the selection of products just like placing the products in a supermarket cart. When the customer finalizes the buying process by filling in the credit card form, the credit card is processed to check the validity of the card. The processed information is sent to a merchant, who credits to the account of the business.

The value of web hosting lies in providing the seamless transfer of the process between various links. The web host could also add value by designing the site for the shopping cart and processing the credit card. It could also provide value-added information about the e-commerce process to the clients in order to make the process clear.

The value addition in the chain puts web hosting services at $200 and more. Many web hosting providers have combined with credit card processors to add value. Some of the main issues in deciding on an e-commerce host are bandwidth, security, back-end integration, reliability, and server set up.

The Critical Mistake That Will Sink a New EBusiness

To understand what this mistake is and more importantly how you can avoid falling victim to it – you must first understand the context of the situation. Selling online requires a unique approach to all conventional forms of business such as the storefront, traffic, marketing, sales strategy and product fulfillment.

You need to understand how each area of e commerce operates, and how to fit your business into a constantly evolving and changing marketplace. Selling online is not an exact science, but it does require a formula for success.

The First Step You Take Online Can Be Your Last

If you decide to try to establish an online business presence it is fair to say that there is much that you will need to learn in order to be successful at your new business. The simple truth is that selling online is an industry where a little advanced knowledge and planning can go a long way towards propelling your business forward. You don’t necessarily need to be an online business guru to make a substantial income online – you just need to follow a few proven strategies.

Choosing an Online Dating Service

The problem with choosing a dating service is choice — too much of it! There are hundreds of services. To choose a dating service that’s right for you, you need to be clear about what exactly you’re looking for. As a newcomer to online dating, unfamiliar with all the options, you might be a little hazy on this front. Here’s a rundown of the main areas in which dating services differ which will help you draw up a dating service wish list to compare sites to.

Relationship options

One of the most obvious things to think about when choosing a dating service is what kind of relationship(s) you’re looking for.

Some services, including top dating sites like Yahoo! Personals (singles dating) and eHarmony (soulmates) focus on one type of relationship only. The advantage of choosing a dating service that’s dedicated to a particular type of relationship is that everyone will be on exactly the same page as you are in terms of intentions.

If you’re not clear what your intentions are, you might be better choosing a dating service where members can pursue different types of relationships within the same site. Again there’s no shortage of choice. However, at some multi-relationship services it’s not immediately clear who’s looking for what and up to you to figure it out, using the search tools. If this sounds like trouble (and it can be), choose a service like Lavalife which has separate communities within the site for each type of relationship.

Members

Think about the type of person you want to meet. Are you open-minded, in which case a mainstream service will be fine, or do you have a lengthy list of “must haves” regarding your perfect match?

If you have set ideas about the type of person you’d like to meet, finding them in a mainstream service could be like looking for the proverbial needle in a haystack. (By “mainstream”, I mean that members are as diverse as the general population.) Instead, consider choosing a relationship service that specializes in bringing people together who have something very specific in common — religion, political beliefs, ethnicity, body size, certain lifestyles, you name it.

Simply run a search for “dating (or matchmaking, or marriage)” plus whatever you’re looking for (vegetarian, republican, biker…) and it’s almost certain you’ll find a relationship service to match.

Matchmaking features

Dating sites have thousands if not millions of members so good search tools are important. However, it’s still up to you search out your perfect match and not everyone has time for this. Luckily many dating services have matchmaking features (more sophisticated search tools) that will help you find “the one” quickly and easily.

Matchmaking features range from the very simple, based on profiles and/or basic wish lists, to the sophisticated, based on personality and other tests as well as more detailed profiles and wish lists. Unless you’re unusually picky (or just very unusual), these one-click options will typically churn up a good selection of possible matches on a regular basis — popular dating services attract many new members a day. You can usually opt to have these matchmaking searches run automatically on a regular basis and receive new match details by email — another time-saver.

At some services, matchmaking features are part of a complete matchmaking service where the selection process is much stricter, usually because they’re geared towards serious relationships. Typically you’ll receive just a handful of potential partners over a length of time. For example, eHarmony (designed to help people into marriage) advises clients not to expect more than one or two matches a month. To accept this level of matchmaking you have to be happy with the idea of letting the “experts” have the final say about who’s right for you and who’s not.

Tests

Online dating services are about much more than dating. They’re also an opportunity to gain some valuable insights into yourself and the type of person you’re looking to meet which could help improve your love life, online and off. If this appeals to you, choose a dating service with personality and other tests for members to take.

For the most part, larger, well established online dating services have the most insightful and detailed personality tests because they have more resources to put into their design. Almost all personality tests are free to take and at many sites matchmaking tools draw on the results to find members who are compatible with each other. So, by taking several tests and judging the results, you’ll get a good idea of which site is going to do the best job of helping you find your perfect match. After all, if the results are a true reflection of what you’re like, they’ll be a true reflection of potential matches too.

Communications

There are two levels of communication to consider when choosing a dating service — what you get for free and what you get as a paying member. On both fronts, some services offer a lot more than others.

Free communications matter because they let you get to know someone, or at least that the interest is mutual, before you spring for a subscription. (A subscription will let you communicate as much as you like.) At most services, free communications are limited to flirty icons and preset messages that members send to each other, but search around. Some services are much more generous than others.

Once you subscribe, the norm for communicating is by on-site email and instant messaging. Many of the top dating services, Yahoo! Personals included, have stuck with this simple set up and show no sign of changing any time soon. Others, like Match.com, are continuously adopting new technologies to offer members more communications options. Typically you’ll pay more so think about whether or not you really need to to be able to access their services anytime, anywhere.

Entertainment

Think about what sort of experience you’d like to have with online dating services. Do you intend to focus on finding your perfect match or would you like to enjoy other activities as well? Many services offer entertainment features including light-hearted quizzes and polls, contests, articles and newsletters, as well as chat rooms and the option to sign up to meet new friends as well as dates.

Offline activities

If the idea of meeting someone online then having to meet them face-to-face at some stage is a little intimidating, look for a dating service that helps members meet and mingle, casually and as part of a group, offline too. Though some dating services go as far as offering singles holidays, offline activities usually involve meeting for concerts, shows and other events in your area or elsewhere.

You can get that all-important “feel” for someone in relaxed atmosphere with plenty of food for conversation and make as much or as little of the occasion as you like. If you haven’t met someone yet, offline activities are an opportunity to meet someone you might like to continue chatting with online, with the advantage that you’ve already met.

International dating

If you’re away from your native country, would like to chat in your native language or are planning to relocate or travel to a different country, some of the more established and successful online dating services have extended their services into countries other than the US. For example, Yahoo! Personals has a new Canadian service while Match.com is live in 27 different countries.

Cost & Payment Options

Most online dating services charge about the same for a subscription — between $20 and $25 a month — so cost isn’t going to be much of a deciding factor when choosing a dating service. Instead, look for value — services might charge about the same but there are big differences in what you get for your money. Also, check out payment options. Several dating services accept money orders and checks as well as the usual credit cards.