Gerichtliche Verfallserklärung Steuerfolgen – Leerverkauf Vs Sheriff Verkauf

scheint es einige Verwirrung über die Einkommensteuer Implikationen der Abschottung. Da ein Gewinn aus dem Verkauf einer Immobilie Ertragsteuerschulden, auslösen kann, es sei denn, die Gewinne in einem anderen Stück von Immobilien innerhalb bestimmter Fristen investiert werden, Haus-und Wohnungseigentümer davon ausgehen, dass jeder Verkauf ihres Hauses in der gerichtlichen Verfallserklärung oder andernfalls wird zur Folge haben, das IRS Geld Schulden. Jedoch werden nur in bestimmten Fällen eine Haftung; und es wird höchstwahrscheinlich keine Einkommensteuer zu zahlen, wenn das Haus bei einem Sheriff-Verkauf für einen Verlust verkauft wird.

Für Illustrationszwecke bieten wir ein Beispiel der möglichen Zahlen des Schrankes Abschottung.

-Balance der Hypothek ist $400.000.

-Eigentum verkauft für $366.000 am Sheriff Sale.

-kein Leerverkauf war von der Bank akzeptiert.

-Marktwert des Hauses zum Zeitpunkt des Verkaufs war $381.000.

Die erste Frage, die Haus-und Wohnungseigentümer ist haben sie behaupten, den Unterschied zwischen was das Haus verkauft für Auktion und wieviel das Gleichgewicht auf die Hypothek verdankt zum Zeitpunkt des Verkaufs war. Die Antwort ist Nein, müssen sie nicht behaupten, dass als Einkommen. Die Zwangsversteigerung der Immobilie im Landkreis Auktion und die Tatsache, die dass es für weniger verkauft als was geschuldet, und zwar zum Zeitpunkt des Verkaufs zeigt, dass Hausbesitzer keine Erlöse aus dem Verkauf erhalten. Sie verdankte $400k und das Haus wurde von der Höchstbietende für $366k gekauft. In der Tat, sah der Hausbesitzer wahrscheinlich einen einzigen Cent des Erlöses aus dem Verkauf nicht weil es ein Verlust ist. Daher ist keine Steuer in diesem Szenario.

Jedoch wenn die Hausbesitzer und die kreditgebende Stelle hatte ein Leerverkauf vor der gerichtlichen Verfallserklärung geklappt, und die Bank hatte $366 k übernommen, wenn sie $400 k geschuldet waren, müsste dann die Abschottung Opfer Einkommen zeigen. Der Unterschied zwischen was sie verdankten und was die Bank übernimmt von der IRS als „verziehen Schulden“ zählt und das steuerbare Einkommen. Es ist als ob der Kreditgeber die Eigenheimbesitzer $34.000,, die dann verwendet wurde gab, um die Hypothek abzuzahlen. Aber das ist nur wenn es gibt eine Vereinbarung zwischen der Eigenheimbesitzer und der Kreditgeber mit einem Leerverkauf fortzufahren. Wenn dies nicht vorhanden ist, erhalten die Eigenheimbesitzer nicht „vergeben Schulden.“

Im Falle einer gerichtlichen Verfallserklärung, wo das Haus bestellt wird, verkauft werden, um die Hypothekenschuld gerecht zu werden, hatte die Bank wahrscheinlich ein Urteil gegen die Haus-und Wohnungseigentümer für die volle $400 k auf der Hypothek (oder mehr, mit Gebühren und Gerichtskosten) verdankt. Nur weil das Haus verkauft bedeutet ein Verlust an den Sheriff-Verkauf nicht, dass sie jede dieser Schuld vergab. Das Haus einfach verkauft für weniger als was schuldig war, war kein Teil des geschuldeten verziehen. So, mit schuldenfrei vergeben gibt es kein zu versteuerndes Einkommen.

Es gibt nur ein Verlust auf die Zwangsversteigerung der Immobilie. Der Hausbesitzer haftet nicht für die Zahlung der Differenz zwischen der $400k, die geschuldet war und die $366k, die das Eigentum an Sheriff Verkauf für verkauft wurde. Und, es sei denn, die Bank versucht, die Hausbesitzer für ein Mangelurteil nach Abschottung (sehr selten) zu verklagen, alle Parteien erfolgt einfach mit der Eigenschaft. Es ist normalerweise am besten für die Hausbesitzer zu nehmen den Verlust, Reparatur ihrer Kreditkarte zu starten und bewegen Sie sich mit ihrem Leben. Es ist eine gute Gelegenheit dazu, jetzt, da die gerichtliche Verfallserklärung beendet ist.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Nick Heeringa

The Forgotten Rooms When Staging Your Home For Sale – The Basement

In 1973 a film entitled „Don’t Look in the Basement“ was released. It was originally entitled „The Forgotten“ in reference to the ignored patients of an insane asylum, but someone thought it would attract more movie goers with a new title. After all, basements can be creepy.

Dark, dank and dirty is what usually comes to mind, never mind those hidden corners where something just might pop out!

Well, perhaps „The Forgotten“ was an appropriate name after all, since basements are one of those areas in a home that is often overlooked when staging a home for sale.

Basements, whether finished or unfinished, add valuable square footage to the house.

Basements should receive as much attention as the rest of the house when it comes to the Must Do’s of staging:

  • Begin by decluttering. Discard, sell or donate any items you haven’t used in years. Basements tend to collect items we think we might use someday, such as old faucets, old appliances (left), toys, luggage pieces, etc. So ask yourself „will I ever really use this?“
  • Consider renting a storage space for items that you are keeping but won’t use or need in the next 6 months, especially if you are considering renting storage for unneeded furniture and items in the rest of the house. It may be worth it.
  • At the very least, buy moving boxes and begin packing. Or purchase plastic storage bins with covers as you can probably use them for storage in your new home. Stack the boxes or bins neatly, or even better, purchase metal shelving to stack them on.
  • The basement should be cleaned thoroughly. You want to remove the „yuk factor“ when buyers view the space. Sweep and mop the floor, or vacuum the carpeting. Make sure you remove cobwebs and dead bugs from corners and along the ceiling.
  • Clean the windows and remove excess vegetation from outside the windows to let in as much light as possible. Open the curtains, if any.
  • Wipe down exercise equipment, ping pong table, and anything that has collected dust.
  • Install extra lighting, even if it’s a bare bulb and pullchord, in dark corners or areas.
  • Paint the floors of an unfinished basement (check with your paint store for the best product). It makes the room brighter and cleaner in appearance. And it doesn’t have to be the typical gray.
  • A fresh coat of paint on sheetrocked walls also goes a long way in making the space appear clean and as valuable as the upstairs space.
  • If your basement doesn’t have walls separating each room, it’s important to designate areas, each with a purpose. For example if you have exercise equipment or children’s toys scattered about, designate an area for each so that it appears that the basement has an exercise „room“ and a children’s „playroom“.
  • If the washing machine and dryer is in the basement, set up this area as a laundry „room“. Make sure this area is sparkling clean, since no buyer wants to do laundry in a dirty area. Set up an ironing board and iron and/or a table to fold clothes. Store laundry supplies neatly on shelves or in a cabinet.

The same goes for other areas in a basement: home office, media room, workspace, arts and crafts space. Make sure each area is clearly designated.

Buyers expect the basement to be dark and dirty. Why not surprise them with a clean, bright, organized and neat space? The buyers will also perceive that you are the type of homeowner that takes care of things and doesn’t neglect the ongoing maintenance of the house.

Basements are one of the often overlooked spaces when staging a home for sale. Since basements add extra square footage to the house, it’s important that they look their best to potential buyers. Here are some things you can do to get them in „show ready“ condition.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Donna Dazzo

Law of Attraction For Real Estate – Attracting Your Ideal Real Estate Agent

When homeowners decide to put their home on the market, the first thing that usually comes to mind is: „How do we find the right real estate agent?“

The truth is, finding the perfect person to sell your home is crucial to getting your home sold quickly and for top dollar. But how can you find just the right agent?

There is an easy five-step formula, using Law of Attraction, to attract your ideal real estate agent, and it is as easy as KABAM! Yes, that is right, K-A-B-A-M.

Using Law of Attraction and the KABAM Five Step Formula

K-Know what you want. Sounds easy enough, right? But take a few minutes to jot down what you really want. I have started the list for you and suggest you customize it for your exact needs.

1. I want an agent who knows my neighborhood.

2. I want an experienced agent.

3. I want an agent who is skilled at pricing homes for sale.

4. I want an agent who has a list of approved buyers for my area.

A-Ask for what you want. It is that simple. Be sure to spread the word when asking-email your family and friends for recommendations, tell the grocery clerk what you are looking for, be public about what you are looking to attract.

„I want to hire the best real estate agent. One that matches exactly what I am looking for.“

B-Believe you are receiving it. Know that your ideal real estate agent is on his or her way. Start cleaning out your closet, sorting the garage, packing up boxes, and making room for the new homeowner.

A-Act on inspiration. If it feels right, do it. That means if someone refers an agent to you and you like the person, do some due diligence and when you are satisfied, make a commitment to that agent.

M-Manifest your desire. This really is a simple process. If you follow the first four steps, the „M“ in KABAM! comes easily.

So the next time you ask yourself, „How do I find the right real estate agent to sell my house?“ remember the one word answer. KABAM!

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Eric Carlyle

10 Ways to Choose the Best Agent to Sell Your Property

Before you start interviewing agents to help you sell your property, it’s important to know how to spot the agent to represent you fairly; the one that has your interest’s at heart in order to get the highest price for your property.

I have sold well over a thousand properties in South Australia in the past 25 years, and have had many vendors share their horror stories with me about dealings with agents who did the wrong thing by them. If only they knew how to spot the agent with integrity… This is what I will share with you today with a list of 10 easy to spot signs…

  1. Excellent presentation. You only get one chance to make a good first impression. The agent who makes an effort to show you the honour and respect of being well dressed and prepared for your meeting is likely to be the one who will represent you in the same way to buyers. If the agent is prepared it is likely that they will be prepared in dealings with your buyers too.
  2. Likeable and trustworthy. You have to feel that you like and trust this person. If you like and trust the person the right buyers are likely to as well.
  3. Great Testimonials. Check out testimonials and call previous clients to get an idea of how the agent operates.
  4. Has a proven track record. Ask the agent how many houses they have sold in the area and enquire as to the average days on market before the house is sold under their care. They should be very aware of this number.
  5. High knowledge of the local area. Ask them to demonstrate, using examples of houses sold in the local area, the reasons why they have estimated your house will be sold for the price quoted.
  6. Has a positive mental attitude. Look for enthusiasm. If the agent is down, they will come across as down to your buyers which is a put off.
  7. Treats buyers right. Look for buyer testimonials on the agent’s company website or mystery shop and ask the agent the above two questions (Why are they selling? And what will they take?). This will give you a great indication of how they will answer these questions when representing your house.
  8. Inspection by appointment. Look for agents that will take inspection by appointment.
  9. Able to lead buyers to purchase your house. Ask the agent how they would deal with critique of features your home. If an agent says they would simply write the negatives down on the feedback card, chances are they are not right for you. When a buyer views a property and says for instance, „I don’t like the wall paper“, the agent should be able to say „What would you do, would you strip it back and paint it?“, or I don’t like the colour of the carpets, „What would you do, would you remove the carpets and polish up the floor boards?“ This gets the potential buyer’s imagination going and makes them envisage the house as they would like it. Imagination is a powerful thing!
  10. Negotiation. You should ask the agent to supply you with some examples as to when their negotiation skills have achieved a higher price for the owner. An agent should be able to give you several examples, if they hesitates it indicates there is a problem.

It is important to know the signs of a good agent versus an agent who may not represent you fairly. Use these 10 signs as a way to determine whether the agent in front of you will get you the best price for your home.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Michael Kies

Advantages of an Exclusive Property Listing Agreement With Your Real Estate Agent

Property buyers are always exposed to lesser options than the availability. This is because of the unwillingness of estate agents to share the information about different properties at their disposal with each other. This may also give problem to the seller because the property gets exposed to lesser market, and it has fewer chances of getting the highest possible price. The seller is also vulnerable to losing track of the entire procedure, something that can have serious ramifications in the future. However, there is a simple yet efficient solution to this problem. And that resides in the formulation of an exclusive listing agreement between the realtor and the seller.

How does an exclusive listing agreement weed out the flaws of the current system? And how does such an agreement facilitate all the three parties involved.

  • An exclusive listing agreement works both for the seller and the agent. The agent is assured of being financially rewarded if he sells the property for a higher price and thus is more motivated to achieve the same while the seller is most welcome to any high bids that the agent brings in.
  • By law, an exclusive listing agreement allows the agent to put up a yard sign in front of the property for sale. Historically, 60% of all buyers are attracted to properties after noticing yard signs. So when a yard sign goes up, the seller is assured of a higher market for his property which increases the chance of him getting a better deal.
  • Carrying on from the first point, if an agent is assured of his financial future with the property, he will also invest more in advertising the property which will of course attract more potential customers, driving up the demand for the said property and along with it, the price.
  • Through an exclusive listing agreement the property is provided with exposure to other agents resulting in the increase of the demand of the property and involvement of more buyers. A better selling price can be achieved by this procedure.
  • The exclusive listing agreement keeps the property seller involved throughout all of the stages of the transaction. The agent shares all information with the buyer and ensures that it goes without any hindrance.

With an exclusive listing agreement the seller and the agent merge into one team and collaborate collectively towards one single goal; exacting the maximum price of the property. For obvious reasons, such an arrangement is better than a seller working alone trying to sell his property while juggling the task with his other daily activities. Team work has always been considered more beneficial. Therefore, you are recommended to have an exclusive listing agreement with your real estate agent. This will surely make things easier for you.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Cullen Martini

Used Flat Bed Bodies

Searching For Used Flat Bed Bodies

In the world of commercial truck parts, searching for used flat bed bodies can be a painstaking task and it can seem like every ranch owner wants one for himself or herself, to put to good use as a convenient time saving measure.

Small farm owners are another group who are interested in purchasing this useful addition for their truck. In fact a little research in agricultural areas is a great way to find a bargain. Once a farmer has completed all his hauling jobs around the small farm, he will most likely want to sell the flat bed body. It is a good place to start looking for flat bed bodies that may suit your truck, but it is not the only place to search.

There are more ways to locate specific commercial truck parts and used flat bed bodies are no exception. Here are 5 tips on getting a successful result for your time and effort.

• Trucking magazines with a classified section and industry newspapers can provide you with a good source of advertisements to browse through.

• Check your local commercial truck parts dealer or salvage and junk yards in your area.

• The Internet can provide you with a wealth of information and you will often find databases available with parts for sale listings. There are also free classified ad sites where sellers place an ad such as Craigslist.org and Classifiedads.com

• If you can not get to view the flat bed body immediately, there is usually a great selection of photos available for you to see, especially on websites such as qualitytruckbodies.com

• Farm bulletins and noticeboards in small towns, or Internet sites dedicated to a small town, can also be excellent places to start looking particularly if they are located in an agricultural region.

If you are about to search the commercial truck parts market for used flat bed bodies for your truck, just follow the simple tips above and you are sure to get the job done in the most efficient way possible.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Sharon Tappenden

How to Buy a House For Back Taxes, Dirt Cheap, Without Competition

So you’re looking for a smarter way to buy a property, either to live in, or to invest in. Congratulations. If you’re reading this article, it means you’ve leapt out of the „thinking“ phase and into the „doing“ phase, and most people never make it that far. There are many deals to be had, if you’re willing to do a little research.

You’ve probably heard that tax foreclosure property is a great investment, and you haven’t been led astray; but now, you’re going to learn how to buy a house for back taxes, dirt cheap, without dealing with the headache of competition. If you’re looking for a cheap property to buy for yourself to live in, stay tuned as well- this technique will work even better if you’re not an investor!

Right now, throw out everything you’ve heard or read about tax sales. If you’re smart, you’re going to figure out quickly that you can’t compete with all the big companies that will be clamoring to bid against you at the sale. Tax sale, be it for deeds or liens, is not a place for the savvy investor in today’s market. There’s a much better way for you to buy a house for back taxes: from the tax delinquent owner himself.

Most people overlook this strategy, which is why you’ll find next to no competition. If you’ve ever tried buying directly from an owner in mortgage foreclosure, then you understand why this is so widely unappealing to failed mortgage foreclosure investors. Frequently you can’t get these owners to return your call for the life of you– and if you do get a deal, then you have to deal with mortgage, the second mortgage, the back bills, the back taxes; but when you buy a house for back taxes, it’s a different animal.

Why?

Because these houses almost never have a mortgage!

That’s right. The mortgage company takes care of any tax problems to avoid losing their interest in the property. So you’ll find almost all these houses are free of a mortgage, or they wouldn’t be up for tax sale in the first place.

Another thing that might seem counter-intuitive is that the owners will almost always return your calls, and when they do, they’re eager to make a deal with you to sell to you, and for dirt cheap, just to get the property out of their name! This is because, as you’ll see, many owners of these properties aren’t people who are down on their luck, and are losing their homes. They’re people who inherited property, or absentee landlords, who have had it with this economy, and actually let the property go to tax sale on purpose, just to get rid of it.

This gold mine of owners can be hard to find, making them great prospects, and you’ll be pleasantly surprised to find how many of these owners are ready to hand over their deed for a couple hundred dollars to you, just because they’d rather see it go to a nice, small-time investor like you, than to see it go to the government. If you’re looking to buy a property for yourself to live in? Even better. Expect to find owners even more excited to give it to you- for almost no money.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Maggie Dawson

Can You Juggle a Baby and Being a Mommy Real Estate Agent?

Many pregnant women and moms of young babies start to think about finding a career that will bring them the opportunity of decent money while also being flexible enough to allow for spending time with the baby. And real estate seems to combine that potential for large commission checks with a flexible schedule. But can you really juggle the demands of motherhood and a real estate business?

If you are pregnant or just had a baby, you’re in luck! It’s a great time to start a real estate business. While pregnant, you have some time to devote to your licensing education and finding a broker. By the time you have your baby, you’re all set to start looking for clients.

But if you have a young baby (or two), you’re still in luck! Most normal human beings LOVE babies. Especially cute babies who aren’t too fussy. If you have a baby who is not walking yet then you have a marketing strategy wrapped up in a baby blanket!

Once the licensing is out of the way and you’ve found a broker, you can hit the ground running and start finding clients. You can easily find clients with your baby in tow, from the mall to the grocery store to Mommy groups. So some of your prospecting can be done while you’re just doing your day-to-day Mommy routine. And you can also take your little one to the real estate broker’s office on those days where you need to drop off paperwork, make copies or perform other office duties.

Once you start working with clients, you can’t get away with taking a baby to every single appointment. Especially on buyer appointments where you are showing multiple properties, it may get a bit arduous to lug a baby with you while opening lockboxes, pulling out keys, opening doors and showing homes that you may not have ever walked through before.

Not to mention that a really cute baby can sometimes be the wrong distraction…you want your clients to buy a home, not drool over how cute your child is. So you have to use your common sense as to when you can include your baby in any aspect of your real estate business.

In these instances, you’ll want to have someone lined up to watch your baby. If you have family or a friend close by who can watch your baby on short notice, that’s ideal. But if you need to make other arrangements, then plan ahead. You need to know what you will do when you have that demanding client who needs to meet you on short notice.

Baby naptimes are a great time for you to prospect for new real estate clients or make phone calls to your current clients. You can research online, create marketing materials, return emails and more.

Can real estate be a great business for mommies of young babies? Most definitely! Much of your real estate business can be worked on with your baby along for the ride. Few other industries are as Mommy-friendly as real estate.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Tina McAllister

Why Most Real Estate Prospecting Letters Fail

Have you paid attention to the real estate prospecting letters you get in the mail?

Most of those real estate letters begin by breaking the #1 rule in copywriting: It isn’t about you.

Because those agents think the letters are about them, they begin the very first sentence with the word „I“ or „We.“

As a result, a huge percentage of people begin reading the letter with a thought or feeling of „Why should I care about you?“ or maybe „Yeah, so what? Who are you to me?“

The truth is, your prospects don’t give a hoot about you. They want to hear about themselves. The only reason they’ll read your letter is to see what benefit it holds for them.

You could say „My doctor says I’ll be dead by Tuesday unless you list your house with me,“ and it wouldn’t budge them a bit. They’d think „Sorry, that’s not my problem.“

That’s a little extreme. But you get what I mean.

So there’s the first big mistake. And most of the time, from there it doesn’t get any better.

Those letters might go on to say how many listings an agent has or how many dollars worth of real estate he or she has sold. It might even mention their „alphabet soup“ designations – which don’t mean a thing to most homeowners.

It’s all just more of the „me, me, me“ message that doesn’t interest prospects in the least.

So what can you do instead?

You can write about their concerns and worries. You can show them that you recognize their problems, and then explain what you’ll do to help solve those problems.

Your approach will naturally be different if you’re writing to a „cold“ group of homeowners in a specific neighborhood as opposed to say, a group of people with expired listings or a list of homeowners who have received a notice of default.

When you know what specific problems those homeowners have, it’s easier to show how you’ll solve them.

But even if you’re writing to a mixed farming area and don’t know what problems they need to solve, you can appeal to their curiosity and interest.

For instance, you can offer information about what’s been happening in that neighborhood. You can let them know how many homes are for sale or have sold in the past month or so. You can share average prices. You can tell them if prices are up or down from last month, or last quarter. And then you can offer to put them on your list for periodic updates.

Almost as an afterthought, you can let them know that you’d be happy to prepare a market analysis if they’re considering selling their home.

Today, successful marketing is all about giving something before you ask for anything. You have knowledge and advice. Give them freely.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Marte Cliff

You Can Be a Cruise Ship Owner Even If You Are Not Rich

Unlike fractional ownership of aircraft and houseboats, fractional owners of a cruise ship can all use the ship simultaneously. There is plenty of room for you and the other owners to live on the ship any time you want, or all the time. You can use it as a full-time residence, and so can the other co-owners.

The first obvious benefit of shared ownership is acquisition cost. There are many cruise ships on the market in all price ranges, sizes, ages, and conditions. There are many smaller and older cruise ships available for less than one million dollars. At the lower end, some smaller cruise ships in fair condition can be acquired for about $250,000. At the highest end, the biggest new mega cruise ships now cost about $500 million to build.

Do the math. If one hundred buyers pool resources in exchange for a percentage of ship ownership, the acquisition cost will be divided by that same number. One percent ownership of a $250,000 cruise ship would cost a mere $2500 for ship acquisition. At the other end of the scale, one percent ownership of a brand new mega cruise ship would cost five million dollars.

There are some other figures that must be tabulated into the total cost of ownership. Acquisition cost is first and foremost. The next figure is the cost to put the ship in service. On an older ship this cost may be higher than the acquisition cost. On the other hand, the cost to put a ship into service can be much lower if you were to get a good deal on a ship that already meets the international standards for ship safety, especially SOLAS (Safety of Life at Sea). Maintaining compliance with Chapter II SOLAS 74 amendments is cost prohibitive for some older ships and they are typically scrapped instead of being refurbished at great expense. There is a very important SOLAS implementation date coming up on January 10, 2010. On that date all commercial international ships will be required to be in compliance with the new fire safety codes. The most important new codes deal with the use of combustible materials in the ship. It will be expensive to replace all combustible materials in ships with non-combustible or flame resistant SOLAS compliant materials that meet the new safety standards. This will result in many ships being sold for scrap metal.

The looming SOLAS 2010 implementation date offers both perils and opportunities. The biggest peril is the possibility that the expense to bring a ship into full compliance with international standards will be greater than the value of the ship. However, there is a silver lining in this cloud. This pending SOLAS implementation date has already started to show up as a primary factor in the asking and selling prices of ships on the market today.

SOLAS 2010 also offers a tremendous opportunity for those who may prefer to have a very large houseboat instead of a commercial ship. Ships that are not in compliance with SOLAS 2010 are now selling for a song (inexpensively). A cruise ship can easily be converted into a megayacht with the stroke of a pen. Privately owned yachts, not in commercial service, and not carrying passengers or cargo for hire are exempt from many of the SOLAS requirements. Operating costs are also lower for a private yacht. It cost less to register, flag, and insure a private yacht. Megayachts can be flagged and classified for unlimited service. That means that a megayacht can go practically anywhere you want it to go. There is one major drawback to registering a cruise ship as a private yacht. You cannot use the yacht commercially. This cuts off a potential revenue source.

There are many decent cruise ships for sale at prices of less than one million dollars that would make good private megayachts. For example, take the ‚VERGINA SKY‘ is a ship that I have personally inspected and so I can talk first hand about it. The asking price was $750,000. Here are the specifics of the ship in a nutshell:

Current Name: Vergina Sky

Ship Details: Built: 1971 in Japan – totally rebuilt 1992 in Greece

Dimensions: LOA 97.8m x LBP 82m x beam 14.6m x draft 4.49m Dwt: 500 on 4,49 GT/NT: 4,668 / 1,717

Description: Pielstick 2 x 8400bhp, twin screw, bow thruster, 3 x 500kw generators, 16 knots, 2 saloons, restaurant, 3 bars, casino, duty free shop, disco, swimming pool, 120 cabins for 318 guests. Lying Greece

My Comments after inspecting the ship

This is a well built little ‚Pocket Cruiser.‘ At just over 320′ in length overall, it is a small cruise ship. Many experienced cruise passengers prefer smaller more intimate cruise ships for a variety of reasons. This ship can go places where the big cruise ships cannot reach, such as shallow draft ports and even many rivers. It has an omni-directional bow thruster and can turn on a dime (relatively speaking of course). I have carefully examined this ship from the engine log to the ultrasound hull report. This is a sound and safe little cruise ship. It is also a very fuel efficient and economical ship. My first time on this ship was in the middle of the summer in Greece when it was very hot outside. The ship is fully air conditioned and it was cool and comfortable inside the ship. I checked the engine room to see how many generators were running. I am happy to report that all the electric and air-conditioning requirements can be met by running just one of the three Daihatsu generators. These generators are very economical to operate in terms of fuel consumption and maintenance.

I was able to negotiate with the owner, John Kosmas and get some concessions. I got the price down to $500,000. And at that price, he agreed to bring the ship into compliance with SOLAS 2005 and also to include new paint topside. The ship was fairly well furnished even including bed linen, but the ship had been laid up for years. Its most recent service was in the Mediterranean and Black Seas. Cruise ships that trade exclusively in the Mediterranean and Black Seas tend to have smaller cabins and fewer amenities than the typical cruise ships that frequent the Caribbean. The bottom line is that this ship was an economy model, not a luxury model. When I was inspecting the engine room, I asked for the engine log. When I opened it I noticed all the entries were in Greek. I was able to discern some dates and other data that told me when the ship was last in service, but I could not read the Greek entries so I handed the engine log back to the ship owner, and told him „It’s all Greek to me.“ Being Greek, Mr. Kosmas failed to find the humor in that.

Let’s look at the numbers on this ship. 100% of the acquisition cost would have been $500,000. 1% thus = $5000. One hundred buyers could own one percent each. There are 120 cabins so each co-owner could have a private cabin with 20 cabins left over. However, these cabins are a bit on the small side. Every cabin does have a bath and shower, but the size is just too small to be comfortable for most people, especially if the owners intend to live onboard full time. On a ship this size I would recommend that there be no more than 60 joint owners so each can have two cabins and will have the option of converting those two cabins into a two room suite. To keep the numbers simple lets say that this ship has 50 buyers who each buy 2% of the ship. Buy in cost per owner would then be $10,000. If there were only ten buyers, then the acquisition cost per buyer would be $50,000. $50,000 will not buy much of a house on land, but on this ship it would buy 10% of a ship like the Vergina Sky and twelve cabins that could be converted into a fairly large home.

At the economy end of the scale, a co owner could buy 1% of an economical cruise ship for about $5000. However it is not necessary for all co owners to have equal shares in the ship. Ownership can easily be divided up into 1% increments. If one buyer wanted 5%, then his cost of acquisition would be $25,000. He would be entitled to 5% of the ship’s cabins, and would have five votes on operations and management of the ship, such as itinerary planning.

Before becoming a joint owner, it would be imperative to find other people who have similar goals. I would suggest composing a preliminary DCCR (DECLARATION OF

COVENANTS, CONDITIONS AND RESTRICTIONS). You can do this before you even shop for a ship. Write your version of how you envision the shared ownership of a cruise ship as it should be. Then see if you can find some people who agree with your goals and your DCCR, subject to some revisions and concessions to accommodate other joint owners.

Step One: Determine if you and your family have the desire and financial capability to become joint cruise ship (or megayacht) owners.

Step Two: Find others who agree with your concept for shared ownership of a ship.

Step Three: Shop for a ship. This is the fun part.

Step Four: Buy a ship.

Step Five: Put the ship into service.

Even if you are not rich, you can afford to jointly own a cruise ship. But then comes the next logical question: Why would you or anyone want to live on a cruise ship? Who would this be suitable for?

If you are retired or otherwise have a stable income from a dependable source you probably can afford to be a cruise ship co-owner and live full-time onboard a cruise ship. If you work in a field where you can work from home online, then you too can probably afford to become a co-owner of a cruise ship. Most modern ships have satellite Internet service available 24-7.

Operating a cruise ship is expensive. The expenses include the cost of fuel, labor, maintenance, repairs, spares, food, port charges, insurance, technical management, shore management, registration, and the other costs of operating the ship. At first glance these costs may seem expensive, but in reality the cost of living at sea is actually a bargain considering what you get based upon what you pay. The best value does not always translate to the cheapest price. If the ship is well managed, the management will seek the highest quality goods, services, and labor at the very best global value. If the owners are dissatisfied with either technical or shore management, they replace them.

If there are many other co-owners of the ship to split the operating expenses of the ship, it can be affordable for those with a moderate level of income, such as a retirement check. I do have specific operating cost figures but I won’t bore you with that data. The bottom line is that it would not be prohibitively expensive for a middle-class average person to be able to afford to own a fraction of a cruise ship and be able to afford to live on the cruise ship full-time if they elect to do so.

For comparison purposes it is noteworthy that you have expenses in land based housing too. Those expenses include property taxes, homeowners insurance, maintenance and repairs, yard care, and utilities. Additionally you have transportation costs and of course food costs. Most people also spend money on entertainment too. When these expenses are added up the maintenance fees for living aboard a ship are comparable.

There are actually some savings resulting from living aboard a ship. The ship’s executive chef buys food and kitchen supplies in bulk for the ship and can get better prices than the average shopper. Other savings result from the large freezers and the mobility of the ship giving the food service management the ability to stock up on supplies in countries where prices are low. Some crew and owners may choose to fish for leisure. This can supply some fresh food at even lower costs to the owners. Labor savings are realized when the crew is hired based upon the best global labor rates. The laws of supply and demand drive prices down in some places in the world. Proper ship management can capitalize on these disparities. All the savings would be passed on to the cabin owners resulting in an economical cost of living similar to what you could expect to spend with a conventional home. Ship management should have accounting transparency will all books (financial records) open and available for any owner to inspect. Also ship management should submit all financial records quarterly to an outside auditor for the peace of mind of the owners. Anybody in the chain who spends any of the ship’s operational funds should also be periodically audited. For example, a good way to audit the executive chef would be for one or more of the live-aboard co-owners of the ship to go to the food market district of each port of call and they should try to haggle and get a better price for the same food than the price the executive chef was able to acquire. If the executive chef cannot find better deals than the ship’s co-owners, then the executive chef should be given his walking papers. The executive chef position is a vital position on a cruise ship. This is a position of trust because he will bill the food he buys to the ship. He must never be tempted to accept bribes from vendors or suppliers. Therefore, he should know that he will be routinely audited and any substandard performance will result in termination of his employment.

The biggest value of all onboard cruise ship is in labor costs. The better cruise ships tend to be labor intensive, providing passengers with unrelenting attention and extravagant pampering. The hotel staff on all cruise ships provides the basic services including food preparation and serving, laundry, cabin stewarding, entertainment, casino operation, beauty shop operations, This is one area where I would prefer to not scrimp because of the very good value in these services due to the low cost of international labor. I would prefer to go beyond the level that most cruise ships go in the area of spas. Land based luxury and specialty resort spas are very expensive, but the exact same level of service, professionalism, skill, and treatments can be provided on a cruise ship at extremely low cost. Labor is the key and the primary reason for most of the expense of spas. Labor is a tremendous value on a cruise ship because the cruise ship managers can choose workers from the global marketplace where it is easy to get the best value for the money.

Spas

Spa treatment is customized for each client. Spas commonly offer services such as:

Soothing massage therapies, skin and body treatments drawing from European and Eastern principles, expert hair and nail services, and a full menu of therapeutic treatments utilizing a deep-cleansing facial at the start of the program, as well as a series of detoxification and contouring wraps, lypo-reduction wrap, as well as marine mud and herb wraps. Massage Therapies including: Swedish Massage, Shiatsu Massage, Deep Tissue Treatment, Maternity Massage, Therapeutic Foot Massage (Reflexology), French Hydrotherapy Massage.

The healing therapies include a variety of massages, reflexology, facials, firming and many other body treatments. Plus a wide variety of services and wellness programs specially designed to meet the individual’s needs and desires. A full service salon offers all manner of hair treatments (including a certified colorist), as well as a variety of manicures, pedicures, and ‚facelifts‘ for your hands. Extensive skin care includes: Age Management Therapies including, Glycolic Facial, Anti-Aging Facial Peel, Microdermabrasion; Facials including: Aromaplasty Facial, Teen Facial, Gentleman’s Facial, Nutrisource Facial, Regulating Acne Facial, Vitamin „C“ Skin Renewal Facial; Body Treatments including: Decleor Sauna Mask, French Hydrotherapy Massage, Andromeda Salt Glow, Mummy Mud Mask, Seaweed Body Wrap, Safe Sun Treatment, Herbal Wrap; as well as various hair and nail treatments.

Additionally, spas also can facilitate weight reduction programs, and even administer physical therapy. In short, you can be treated like a king, on the budget of a pauper.

Labor Costs – International competition provides the most value to the ship owners.

On paper it seems to make good sense to man the ship with a Philippine crew. I love the Philippines. I have been there several times. English is still widely spoken and usually spoken quite well. The people are usually friendly and happy to see foreign tourists. A large percentage of ships worldwide are manned by crews from the Philippines. The Philippine government has a pretty good structure and system to facilitate the export of Philippine labor. In spite of how attractive it seems on paper, I would recommend NOT hiring a crew from the Philippines. Philippine workers tend to be envious of others, and especially of everybody else’s wages. They tend to think they are getting the raw end of the deal. It is rare to find a Filipino who is happy with his employment. While I am sure there are many good employees from the Philippines, there are more who are dissatisfied than satisfied with their employment. There seems to be a cultural anomaly in the Philippines where people feel that employers are bad guys. I would hesitate to recommend a crew from the Philippines in spite of the apparent advantages on paper.

My recommendation (for what it is worth)

I do know something about what I am writing about here. I am the former President of Adventure Spa Cruise. My advice is not just uninformed ranting. Back to the point now, the second best manning nation for a ship is India. I highly recommend India for the medical staff and the entire hotel staff, including the spa, and every other position except the deck and engineering. The labor costs in India are very attractive. I would also recommend using an Indian based manning agency. It is best if the ship’s owners do not have to deal with every employee issue or concern. The manning agency takes the pressure off the ship’s management, and their service is very reasonable. Indian employees tend to make better employees than do Filipinos. Indians also speak English, albeit not quite as well as Filipinos. I know Americans tend to get all worked up when someone uses a broad brush to paint an entire ethnicity. I love the people from the Philippines, but as employees they tend to be more problematic than do Indian employees. I realize that this statement is politically incorrect, and these days that might get me thrown in jail. I usually do not worry so much about being politically correct. I call it the way I see I and I let the cards fall where they may, and hope I can stay out of jail for speaking my mind.

All deck and engineering positions should be filled with an all Ukrainian crew. The ship will realize the most value for the money with Ukrainian deck and engineering staff. The Ukraine has a long maritime history and tradition. Maritime training and standards in the Ukraine are among the best in the world. Ukrainian deck and engineering staff are as good as or better than any other, but the cost of their labor is a very good value. The labor for deck officer and engineering staff are governed by international agreements, including STCW (Standards of Training, Certification and Watchkeeping for Seafarers).

Putting a cruise ship into service

After acquiring the ship, it will require some more investment to put it into service. At this point the joint owners will need to reach some agreements on many points. The cost of putting a cruise ship into service as a megayacht (very large private yacht) is much less than putting the ship into commercial service. However, if you can afford to buy a ship can easily meet SOLAS 2010 requirements, and can afford to flag and register it as a commercial ship then you can use the ship commercially to produce income and ROI (return on investment).

There are many marketing options for a commercial cruise ship. If the owners use no more than half the cabins, then that will leave sufficient means to produce enough revenue to at least pay for operating costs, and possibly produce a profit above operating costs. I will just briefly touch on some of the options available for marketing cruise ship capacity.

1. Conventional cruises. There is a trade-off here. You can produce revenue by providing conventional cruises. This will require that the ship have an itinerary that suits the commercial cruising market.

2. Freight and cargo. Some cruise ships have enough cargo capacity to produce some revenue by booking freight.

3. Assisted living. A cruise ship is well suited for assisted living, including crew and facilities. The going rate for assisted living in the average city in America is higher than the average cost of a cruise of the same duration.

4. Timeshares. This is an option not available to conventional cruise ship operators but could be facilitated if your co-owners agree to this type of marketing to fill cabins not used by co-owners. I will not go into the figures here, but timeshares tend to be high profit sales. There is a good chance that if the joint owners use no more than half the ship’s cabins for their own personal use, the remaining cabins could easily produce more than the total amount all the joint owners combined have invested.

Ships that would easily meet SOLAS 2010 tend to cost a bit more money to buy up front, and cost more to put into service. So I will give you couple of examples.

The Orient Venus is one of my favorite high-end ships. The specs:

M/V ORIENT VENUS

BUILT: JULY 1990 AT I.H.I.TOKYO

JAPANESE FLAG

JG. NK OCEAN GOING

GRT: 21,884 TONS

DWT: 4,863 TONS ON 6.50 M

LOA x B x D : 174.0×24.0x8.7 M

M/ENG: DIESEL UNITED-12PC2-6V x 2 SETS ,

TWIN SCREW CPP

SPEED: SERVICE ABT21.0 KNOTS / ABT 56.70MT /D

FUEL TANKS CAPA: IFO 1,500.4 M3 /MDO 87.30M3

GENERATOR: 1,600KWxAC450Vx60HZx 3 SETS

ENGINE ROOM M0 SYSTEMS

CRUISING RANGE: ABT 7,000MILE

PASSENGERS: MAX 606 PERSONS

CREW: 120 PERSONS

ABA WOG

DELIVERY: BY ARRANGEMENT

INSPECTION : KOBE.JAPAN

OWNERS PRICE USD 22 MIL net here

My personal assessment of the Orient Venus

It is a late model and beautiful ship. It has many highly desirable attributes for a residential ship. It is a high end luxury cruise ship with an extraordinarily high tonnage to passenger ratio. This is very important for a residential ship. More living room and more space per passenger is far more essential for a residential ship than for a conventional cruise ship. When passengers are only on a ship for a short time, they can tolerate cramped living quarters, but when they live year-round on a ship, the extra space is quite valuable. The owners have been trying to sell this ship for $22,000,000. That may seem like a high price, but when you divide it by the number of cabins (195) the asking price per cabin is $102,564. This price is in line with what you would expect to pay for a condominium. The last word I got from the owners is that they will sell the ship for $18,000,000 now ($92,307 per cabin). The cabins are all „outside“ cabins and are large. The ship can accommodate 606 passengers and a crew of 120, for a total of 726 people.

Several ship brokers have this ship listed. I usually do not talk to ship brokers. I prefer to talk directly with the ship owners. I am in contact with the owners of the Orient Venus. I could probably get this stunningly beautiful ship for less than $15,000,000 today, and get some concessions and extras thrown in to boot.

Another example of a high end ship that would make do well as a commercial cruise ship, plus accommodate a hundred or so full-time live aboard co-owners is the Dream Princess, originally named Song of Norway.

GRT: 22,945

Max Draft: 6.7 M in sea water

Length: 194 M.

Total No. of Cabins: 538

Total No. Of Beds + Berth: 1280

Outside Cabins: 346

Inside Cabins: 192

Cabins size range: SQ. M: 11 -18.

Main Engines: 4 Wartsila Sulzer – 18,000 HP.

Service Speed: 16 Knots.

Public Rooms:

Main Dinning room – „King & I“- about 500 pax.

South Pacific Lounge about 400 pax.

My Fair Lady Lounge about 500 pax.

Bars- 5

Self Service Restaurant on the swimming pool deck

Large Swimming pool

Disco

Casino

Duty Free Shops

Gym

8 passenger decks

extensive outdoor areas

Ship was redecorated / refurbished extensively during 2005.

The asking price on this ship is $31 million USD. Divide the asking price by the number of cabins and the average cost per cabin would be $57,620. Of course some cabins are better than others so co-owners would have to agree of the shared usage before agreeing to the purchase.

I have some bad news for the ship owners and some good news for you. This ship will not sell for the asking price.

Fuel

Ship fuel is cheaper than automobile fuel for a few reasons. There are no road taxes on ship fuel of course and also it is different fuel. Ships main engines usually run on IFO180 or IFO380. Generator engines tend to be more finicky and commonly require diesel (MDO), which is still cheaper than automotive diesel. IFO 180 and 380 costs much less than MDO, usually about half the price. Ships consume a lot of fuel. So fuel cost is a major concern. I have some suggestions. If I were a co-owner of a ship I would be willing to invest a little more in the ship to increase fuel efficiency, and thus lower operating costs. There are many things that can be done to increase fuel efficiency. I would start with hull resistance. There is a new silicone-based paint from International Paints that when applied to the hull reduces amount of resistance in the water sufficiently to result in a 3 to 5% decrease in fuel consumption. A similar coating for the propellers also has been proven to increase fuel efficiency.

In addition to hull and prop coatings, there is an even more promising way to achieve dramatic fuel savings.

There is a company called Kiteship that has developed and produces kites for racing sailboats. These sailing kites do not require a mast. The kites fly high above the vessel, attached by cable and controlled from the vessel. Dave Culp of Kiteship has done a technical feasibility study on fitting a very large kite onto a conventional cruise ship. This would dramatically reduce fuel consumption. It would convert a fuel guzzler to a „green machine.“ This is tantamount to converting a powerboat into a sail boat. The design of a cruise ship limits the amount of sail that a conventional ship can safely accommodate. A cruise ship lacks the ballast of a sail boat. If used in addition to the main engine(s) the kite will increase fuel efficiency. If the kite is used to pull the ship with the main engines shut down the ship’s speed will be reduced substantially. However, in this case, not only would the ship save IFO (main engine fuel) but also save MDO (generator engine fuel). If the kite were pulling the ship unassisted by the ship’s engines, then the propellers could be used to propel the ship’s generators without firing up the diesel generator engines. Even if the ship were traveling very slowly in the water, the propellers would turn in reverse if freed from the main engines. This is a very simple and easy task for the ship’s engineer to accomplish. In other words, the ship can be pulled by the kite, and that motion will push the ship’s propellers providing power to produce electricity and power the air-conditioning without using any fuel. The trade-off is a loss of speed and also some tacking is required, further reducing actual speed. What’s the rush? Why not go for maximum fuel savings? The salient point is that a high flying large kite can pull a cruise ship. If I were a co-owner of a cruise ship I would hope to find like minded co-owners who would be receptive to using such state-of-the-art technologies to save fuel.

There are hundreds of cruise ships on the market but I will just mention one more here. This cruise ship has RO/RO (Roll-On, Roll-Off) capability. This would be very convenient for live aboard owners who want to bring their „toys“ with them. The garage deck will accommodate 6 to 8 trucks, or 60 to 80 cars. That converts to a lot of co-owner toys such as motorhomes, travel trailers, campers, cabin cruisers, ski boats, jet skis, sailboats, houseboats, bass boats, motorcycles, ATVs, cars, and trucks.

Specifications:

650 PASSENGER CRUISE SHIP FOR SALE

VESSEL IS FULLY FITTED WITH SPRINKLERS

SOLAS 2005/2010 FITTED

TWIN SCREW CRUISE

VESSEL DIMENSIONS LOA 137.10 X BREADTH 21.00 X 5.8 METERS DRAFT

BUILT 1981 / POLAND

REBUILT 1991

REBUILT – UPGRADED 1999

REBUILT – RENOVATED – REFURBISHED 2002

CLASS R.S. ICE CLASS L2

GRT 12637

PASSENGERS 650 IN 230 CABINS (BASIS 3 BERTH OCCUPANCY)

ALL CABINS WITH PRIVATE FACILITIES (INCLUDING SUITES AND SEMI SUITES)

9 DECKS

HELICOPTER PAD

MAIN ENGINES SULZER 4 X 4,350 BHP

SPEED ABOUT 17.5 / 15 KNOTS ON ABOUT 45 / 36 M/TONS + 9 TONS DIESEL OIL

BOWTHRUSTER 800 BHP

STABILIZERS

120 TONS PER DAY WATER MAKER

RECEPTION

LOUNGE

RESTAURANT (420 SEATS)

NINE BARS

CASINO

DUTY FREE SHOP

CHILDREN’S PLAY ROOM – TWO DISCOS

TV/MOVIE CORNER

DUTY FREE SHOPS

HAIRDRESSING SHOP

JACUZZI

ONE PASSENGER ELEVATOR

LAUNDRY SPA & HEALTH CLUB

TWO SAUNAS

CLINIC

TWO SWIMMING POOLS (ADULT & CHILDREN)

Cost per cabin based on asking price, $71,739. This ship will sell for less than asking price. It is already SOLAS 2010 compliant. It would cost very little to put into commercial service.

Conclusion

Becoming a co-owner of a cruise ship is not a far fetched idea. It is practical and feasible if you are able to find like minded people who would be willing to share the expenses.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Arthur Wyss

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