It hurts when politicians slam bank managers for the bank failures

Every generation needs a revolution - an entrepreneurial revolution

Some politicians (senators) probably slam the bank execs for the failure closure of the banks

But the outbursts which probably get more  votes are unfair.  No super manager can beat the situation

or would have figured out way of squeeze between low yield treasures, (as assets) and high cost 

deposits due to Fed action to increase interest rates.   Time is not on the  side of the bankers.

That is why the regulators cant do a thing.   

Take note that PDIC is undercapitalized to handle further stresses of the banking system.   JP Morgan is the only entity that can even probably save the FED.  

Some advices skills to be learned by real estate brokers agents:

Every generation needs a revolution - an entrepreneurial revolution

1,   On pre development marketing and prices.    

      Some agents say that buyers will come as soon as prospects see massive development and construction

      One of key features and excitement in real estate is OPM (other peoples money) and leverage.   A

      developer would not not want to spend a single centavo on development.   So developer would

      not break ground unless:    project is fully sold out, full dp has been made.

      If we just wait for project to be fully developed before selling, thats a no no for most smart

      developers....   That is why you offer pre developed low prices.  Once it is fully developed....

      You really have to work hard on winning attitude, and upgrading sellers skills.   

2.  On tripping and network

     Most sellers do not have direct listings but have listings of other agents.  They trip only one

     another and pad the commission with more intermediary agents.  An agent should try to get

     direct listing so that he/she can control her income  and the negotiation

     Be sure prior to the tripping:

     1.  You have located the property properly at Google maps

     2,  Complete clear docs:    TCT/Oct, Tax Dec.  Free Patent, ba?  (take note of 5 years restrictive

           period)  Sec 4 Rule 74 if inherited

     3.  Subject to EJ ba (if owners are deceased)

     4.  Site   - is it suffering from irreparable conditions:      flooding, earthquake prone, near a

          ravine, former dumping ground, cemetery 

3.  ATS

     Secure an ATS specifying the property the amount of commission to be paid, the price

     and other perks.   Be sure everything is clear and that you are authorized

4.  Option agreement

     (/For those complaining that nasulot ang deal, kasi panay kuwnetuhan lang ng seller, walang

        klaro at serious na legal na deal)

     There must be a document that must be signed between seller and buyer if there is meeting of the mind

     1   Option money -  promise to buy and sell, a binder.   An agreement without PHP is non binding

          This binds the buyer and seller:

          1.  That the property shall not be dealt with anyone else during a specified period;

                (at the risk of penalty)

         2.  Price will be fixed; he can not raise prices

    2.  Contract to sell if the buyer and seller intends to go on with the deal  (complete with representation and warranties and boiler plate provision

        You really need a lawyer to protect you in big deals.   Pay him fees (from your com)

Evaluation of some recent business proposals

Every generation needs a revolution - an entrepreneurial revolution

There were 3 business proposals on real estate that we recently evaluated and we had to conduct a tripping

1.  A dacion of subdivision plots, who owed a substantial amount, with purported value of P14K/sm

     However the subdivision was badly developed:   no open space, cracked concrete roads, no

     centralized water system.    (Despite Manila Water)  To somewhat add pain to our all ready difficult

     situation, we were even asked to submit proposal to develop the project.    (Just to think that this

     project is owned by a Congressman from Eastern Visayas, ex officer of a Pharma,   As a developer we

     made sure our development was completed and of high standards  (wide roads 3,000 psi strength)

     No deal.  We are merely collecting our money.   

2.  A 3,900 square meter in San Mateo near the church and Mun Hall,   It looked like a bargain at

     P12M net, however it would need at least P50M in backfilling and  slope protection.      That will

     make the lot prohibitive.  No wonder this has escaped the business development staff of nearby

    developers.    No deal

3.  A 9600 sm property purportedly owned by an acquaintance in elementary school whose asking price

     is 23,M.  It is located in a depressed area, accessed by narrow road but very near SM Save More.   

     The property has a 43 meters frontage, and just like in San Mateo, the front 400 sm is elevated.  and the

     rest is depressed which is a bad Feng Shui project.   I am looking for alternative entrance.  But it does

     not change the Feng Shui orientation, ie going to work from home on a steep exit.   Araw araw pagdu

    rusa.       No deal.   

Let us look for other properties that will be easier to develop and sell