The-Lefthander

A Proforma Income Statement (or proforma) is a proven way for real estate investors to evaluate the future cash flow performance of investment properties. Better than an APOD (which merely shows a property’s cash flow for the first year), proforma income statements enable investors to project-then-evaluate the investment real estate’s cash flow, tax benefit or losses, sales proceeds, and key returns out over a number of years.

The method is straightforward. The proforma starts with a property’s financial…

Real Estate Investment Software Blog and ProAPOD Real Estate Investment Software are owned by James Kobzeff.

Moneyweek editor Merryn Somerset Webb reveals some eye-catching figures from estate agents John D Wood. In the last quarter the price of a house in Kensington or Holland Park has fallen by around 18%, while that of a flat is...

Shed new light on your scheme with one of these stylish ceiling lights.

Former Conservative MP Sir Peter Viggers stood down after becoming best known for providing some of the tastiest headlines of the expenses scandal. In case you've forgotten, he'd claimed £1,645 on expenses for work on his grand, floating duckhouse. The...

Jeff Howell gives on-the-level advice and answers your home maintenance questions.

Jeff Howell gives on-the-level advice and answers your home maintenance questions. This week: fitting a door knocker to a double glazed door.

The pressure for places at good schools has risen as cash-strapped parents look at options. That means catchment area homes are in hot demand, says Caroline McGhie.

There’s the mortgage. And there’s rent. And halfway between the two, there’s the interest-only loan. But is the Financial Services Authority – in practical terms – about to call time on the last remaining ‘cheap mortgage’? It looks like...

Prime London residential prices are continuing to decline but at a slower rate as demand and supply become more closely aligned, the latest real estate index shows. Prices of luxury property in central London fell by 0.1% in August, a decline which followed the 0.5% fall in July, according to the Knight Frank Prime Central London Index for August 2010. The recent price falls mean that the annual rate of price growth, which hit 21% in April this year, has softened to 16% in August. The price declines are marginal across all price ranges. However, the biggest drops are being seen in the £1 million to £2.5 million sector.

Soho estate agent Rob Hill reviews the local property market.

What we're looking for on the property market this week: a home with a business attached.

Salford council is proposing staff work one hour a week for nothing to save cash and prevent compulsory redundancies. The council’s 11,000 staff work a 36-hour week but would be asked to receive pay for 35 hours. At some stage in the future the council would hope to be able to redress the balance by paying staff 36 hours pay for a 35 hour working week Based on an average salary of £15,000, it is estimated staff would lose around £27 a month.

this was part of a discussion with easybet man re tightness in cap utilisation. i think it goes some way to explaining uk ir policy: ".. this paper demonstrates that the level of the output gap has an important role in explaining inflation and suggests that the lagged effect of the large negative output gap will generate significant downward pressure on inflation over the next few years. The analysis also finds strong empirical evidence of the influence of import prices on inflation, with a one-off shock to import prices taking around 1 year to fully feed through to inflation. .. The analysis has informed the Treasury’s view on recent inflation developments and underpins judgements on the prospects for inflation."

Under the deal with Berkeley Homes the developer will set up a private rental fund that it will use to buy 555 homes it is building over the next two years. The HCA is putting in £45.6 million through its Kickstart scheme. Of this £28.5 million is equity, £455,000 is gap funding, and £16.6 million comes through the National Affordable Housing Programme. The HCA launched its private rented sector initiative in May 2009 with the aim of encouraging institutional investors into the private rented market.

The mortgage giant quietly launches the HomePath program, which offers subprime-era terms for buyers: minimal down payments, no appraisals, no mortgage insurance and lower minimum credit scores.

Excellent BEARISH consideration in a paper with a readership of over 3.2 million (http://bit.ly/dyntAr). Three letters in top right hand corner of page 42. Graeme Brown, director of Shelter Scotland speaks sense, albeit a tad cautiously, as he states "there is a general assumption that rising prices are a good thing but maybe we have become too accustomed to the hyper-house price inflation of the past 15 years" and in conclusion promotes the idea of seeing "the return of house prices to to some semblance of sanity as something to be celebrated not feared." Two other letters presumably to add "balance" (lol!), including the comically naive/ignorant "Maria" from Northamptonshire who likely doesn't even exist. (n.b. you need to supply an email address to read the Metro's "e-edition").

Industries including engineering, manufacturing, financial services, training and IT all suffered a drop in the number of jobs available in August compared with July, according to the Reed Jobs Index. A separate survey revealed one in five small and medium-sized businesses (SMEs) anticipated job cuts over the next year.

Girl band estate agent through to X-Factor boot camp [Esatate Agent Today]Richard Rogers rebuked by planning while repairing his home [Sunday Telegraph]George Osborne's "unemployed" brother demonstrates how you don't need to be working to get buy a big house [Sunday...

''The stock market closed up 298 points on the week at 10,448 (10,150). The bears that predominantly follow a non existent deflationary scenario, consistently and persistently fail to comprehend what drives the worlds economies and stock markets which is the inflation mega-trend.''

If your landlord is trying to evict you and you are finding it hard to find somewhere else to live, you may be entitled to be re-housed by your Local Authority.

If so, the most important advice is DON’T MOVE OUT!  Because if you do, you will lose any right to rehousing that you have.

The rules for re-housing tenants being evicted are fairly forumalic.  They go as follows:

• If you are homeless or are threatened with homelessness (ie if your landlord has served an eviction notice on you and is taking you through the courts), AND
• if you are eligible for assistance (if you are a British citizen you should be OK), AND
• if you come within one of the categories of ‘priority need’ (essentially pregnant women, families, people vulnerable e.g. through disability and old age and people made homeless because of an emergency/ disaster), AND
• assuming you are not ‘voluntarily homeless’ (ie your homelessness is not down to you having moved out or been evicted because of something preventable like rent arrears caused by using your housing benefit to pay off other debts), AND
• if you have some sort of local connection (although if you haven’t this is not necessary fatal)

then the Local Authority have a duty to re-house you.

However as most Local Authorities are short on housing in which to re-house people (a legacy of Mrs Thatcher’s right to buy), they normally won’t rehouse you until your landlord has got an order for possession.  Sometimes they won’t re-house you until the bailiff is almost at the door.

So don’t move out.  Some landlords get very upset about this, and consider that their tenants are dishonest in staying on, but really if you have a family and need re-housing there is little else you can do.

If your landlord is threatening to evict you, and you want to be re-housed, you need to speak to your Local Authority homelessness department RIGHT NOW, show them the paperwork, and follow their advice.

Finally, if they decide that you are not actually entitled to rehousing, take legal advice.  Sometimes the decision can be overturned.

• Subscribe to the comments for this post?
• Share this on del.icio.us
• Digg this!
• Post this on Diigo
• Share this on Facebook
• Share this on FriendFeed
• Post on Google Buzz
• Share this on LinkedIn
• Share this on Mixx
• Share this on Reddit
• Stumble upon something good? Share it on StumbleUpon
• Share this on Technorati
• Tweet This!
• Blend this!