Why A Second Home Can Be A Very Good Investment

It is true that a second home is not going to be occupied for as long as your main residence, but there are many ways you can make use of this empty space, one of the best is to turn into a vacation rental. Just like those that like to travel abroad and find rental properties in Europe, those that live in other countries come here just as much, and find that hotels can be just as expensive in the United States. You don’t even have to have your second home in popular areas like California, or Florida to attract visitors.

There are some pros and cons to having a second home as a rental investment. You have to make sure that the property is maintained regularly. You also have to screen those that rent the home so that someone doesn’t trash the place while they are staying there. You may have to pay extra in taxes, and you are going to have to have full coverage insurance.

One the other hand, renting your second home out on a regular basis has its advantages. One of them is that when you aren’t there, others can enjoy the home and any attractions nearby, skiing in the winter, ocean views, and many others. It can be a steady source of income for some, and can not only pay for itself, but can also help with your other monthly expenses. You don’t even have to find renters for your second home. There are many different agencies available that can get tourists in for you, and even manage the rental process completely so you don’t have to.

There are some things to consider when looking into a second home. Are you going to be able to cover mortgages on both properties, including the taxes and the insurance? Are you going to be financially able to take care of problems that might arise, such as having to fix appliances, or deal with tenants that left your home trashed. How much time are you willing to put into dealing with rental property, screening potential vacation tenants, making sure that they are keeping your home in good shape while they are a staying there, and not breaking any rules you have in place.

In the end, while a second home can be worth the investment, you have to make sure that you are financially able to balance all of these expenses. You also have to look at the location of the property as well. If you are buying your second home because you like the location, you have to consider that others may not like the same area.

Need a Home Based Business Idea?

Been looking for a home based business idea and don’t know where to start looking? Well, here’s lots of great information to get you started. The Following is a list of Home Business Ideas for your metro area! Let’s talk about how to start your own business with one of these ideas.

Remember, this is not a COMPLETE list but simply a start to get the idea juices flowing in your mind. Owning your own business is the dream of many a budding entrepreneur and it’s a pleasure to welcome you to your future. Let’s take a look at the following starters.

  • Arts related business ideas:

Antique Refinishing and Repair

Appraisals – Art, Antique, etc.

Art Dealership

Artist

Cartoonist

Costume Design

Entertainer

Film Production

Illustration/Graphic Arts

Music/Dance Lessons

Photography

Publishing

If this list doesn’t contain your art interests, that’s OK.

If you have one in mind, then pursue that.

  • Business Services:

Why not start your own business in:

Accounting

Advertising/Public Relations

Answering Service

Architecture

Billing Service

Buying

Calligraphy

Collection Agency

Consulting

Coupon Clipping Service

Data Processing

Detective Agency

Editing/Proofreading

Entertainment Bureau

Home Economics

Importing

Interior Design

Inventor’s Bureau

Lobbying

Messenger Service

Personnel Agency/Executive Recruitment

Research

Software Development and Sales

Stationery-Design and Production

Technical Writing

Telephone Solicitation/Surveying

Trade Show/Convention Organization

Translation

Typing/Secretarial/Word Processing

Writing

  • Retail Business:

Furniture Retail

Furniture wholesale

Home Retailing & Selling (Amway, Avon)

Mail Order

  • Trades and specialized areas:

Carpentry

Contracting

Electrician

Landscape Design/Gardener/Horticulture

Vegetable Growing & gardening specialist

Plumbing

  • Miscellaneous Businesses:

There are all kinds of niche areas you can consider as

well if that’s where your interest lies.

Candy Making

Catering

Cooking/Baking

Dog/Cat Breeding

Dog/Cat Grooming

Rentals

  • Personal Services:

Astrology

Baby Items/Stork Deliveries

Babysitting/Day Care

Beauty Salon/Barber/Beauty Consultant

Bed and Breakfast

Chimney Sweeping

Cleaning

Cooking Lessons

Counselling

Dentist’s Office

Doctor’s Office

Gift Basket Service

Important Dates(Reminder Service for Birthdays, Anniversaries)

Insurance Agency

Lawyer’s Office

Limousine Service

Mobile Home Rental Registry

Party Planning

Plant/Pet/House Sitting

Private Investment

Real Estate

Resume Writing

Sewing/Tailoring/Dressmaking

Shopping Service

Sports Lessons

Telegrams-Singing, Cookie, Balloon

Tours, Transportation Services (Children, Seniors, etc.)

  • And more here:

Travel Agency

Manufacturing/Design/Repair:

Clothing Design

Doll Manufacture and Repair

Furniture Manufacture and Repair

Jewellery Design and Repair

Repair-Electrical, Appliance, etc.

So do you think you could start your own business by choosing one of these as your home business or another one that isn’t on the list? The next thing we need to do is show you how to choose a business that best suits you, your personality and experience. Then show you how to set up your business and how to market both it and you.

We’ll cover that in our next article.

The Way to Investment – Preparation to the Chinese Exhibition

Planning of participation in Chinese exhibition is an important moment, but more significant is preparation. There are a range of main steps.

Firstly, it is necessary to make a list of conferences and exhibitions, the participants of which your company plan to be. In majority of case, conferences are organized in frame of certain topic or theme. For example, there are conferences and exhibitions devoted to medical care, IT or security in construction sector. Usually, sponsors of exhibitions with such topics are big companies with world names. They use China as a platform for searching new business ideas, which they ready to invest.

It should be mentioned, that it is not important, that the theme of conference differs from the main activity of your company, because the main aim is to find good investor. For example, there was conference in Peking in march of this year, the main topic of which was security; however, the company specialized on developing of distance studies systems received investment in size of 79 millions dollars.

Secondly, preparing for a conference, it is better to find a Chinese company, which will help you, may be, not for 100%, but for 20%. Of course, it is possible to organize everything without any help, but cooperation with Chinese company will be only plus.

Thirdly, developing presentation, it should be paid attention not only to international standards of its design and positive financial figures of the project, but also to highlighting of benefit for developing of Chinese business in form of purchasing of Chinese raw materials, equipment or, at least, accepting for a job Chinese workers.

The other important moment is to foresee, where you will find translator and place for organization of trainings for own team. All your representatives should know rules of Chinese etiquette: how correctly to give business card, sit and behave at the table and other things. Representative should be ready to some moments of Chinese particularities of life, physically and morally. For example, Chinese national drink as plum wine has very specific taste. In order to be polite, it is necessary to show, that it is tasty, even then, when representative doesn’t like it. Therefore preparation and trainings should have place, in order to avoid confusing moments during communication with Chinese.

Moreover, all representatives should have high status positions in your company, for instance, prime president or assistant of general manager. A secretary in your company should also be prepared properly to present company workers by phone. In addition, representatives should have business cards with information not only about position in the company, but also level of education and scientific degree.

In such way, preparation to Chinese exhibition is significant. The main steps should become creation of list of conferences, selection of those conferences, which are sponsored by big companies with world name; developing of presentation with positive financial figures and accent on benefits for Chinese business; solving of organizational tasks such as finding of translator and place for trainings about Chinese etiquette for own representatives.