The Red River is down and the wheat market is up. How does that make our North Dakota friends feel?

Apr 02, 2009 by spincycle00 | Posted in Polls & Surveys

---

Good.



ATTENTION: If you were/are a contact of mine - please add me again to your contact list. For reasons unknown to me my fans list got wiped out. Check and be sure that you can see me listed in both your "fan" and "contact list."

How do I choose a good location for building a hotel?

Feb 21, 2008 by Jonny M | Posted in Small Business

I am a student doing a group project for school based around building a mock hotel in North Dakota. We need to choose a city or town to place the hotel, but I'm not sure what to look for. The market is saturated in the highly populated and high traffic areas. Should we focus on placing it near local attractions? Any links to resources on this topic would be appreciated.

---

The key word here is "MARKET STUDY" or where people will most likely need a Motel (airports, convention centers, parks, an so on. If its a private motel, look to the market studys results already built out; find a McDonnell's, Wall Mart and other major convinces. All major corporations do "market study's and place there business where there is traffic.
THERE ARE 3 RULES TO LOCATING A BUSINESS:
1) LOCATION 2) LOCATION 3) LOCATION its that simple.
Most New Motels are paid for before they are built: How?

The Developer will file a "Limited Partnership Investment" company or corporation. Then they will sell one limited partner one room" he will receive a % of profits, and MOST importantly tax deferred income by Depreciation (which will be heavy and a good deal....this is how investors make money on rooms because they recover their tax exposure from the government IN CASH, and the investment will pay for itself. see (Accelerated cost recovery system; for new business called "ACRS" even if there are no customers...there will be more "tax loss."
These are sold by those who also sell securities and stocks.
They will "add on" there commission to the investor.

Then when it sells out ( and it will in no time) You will have the value in your company (in cash in the bank or contracts) to have the "Financial Statement" to borrow the construction funds.
Your bank may require a "Take Out Letter" from a Mortgage company, that will guarantee that the mortgage will pay the temporary loan (swing loan, interim financing loan, bridge loan, are all the same) and "take it out of the bank inventory of loans." (banks can only make 5 yr loans, FED regs.)

Seeing that you will not need a mortgage, any commercial Mortgage Company will issue a "draft letter" at no cost to you to give your bank. This should be done by the Mortgage company because the rate's may change before you are through with construction.....and they will not be locked into a rate...... (If you have no IRS tax liens you can get a "draft" no problem. If the Mortgage Co. will issue a "real" ..."take out letter" they will charge you 2 points cash to issue it.
(2 points = 2%) of the value of the loan.

I have never met a banker who knew the difference form a "draft letter" (a copy of what the letter will look like) and a real "Take out letter," The bankers like to talk about letters, and points....only because that is what they hear in their business. Most are not smart at all......and you can just slam a loan past them so fast.....they will never know, because you talk the talk, too.....but the difference is that you will know!

Selection of a Contractor: advertising for bids, a service will do that for you called "DODGE SYSTEMS" and others. (There should not be any expense in this...its a free service)

Now you need architectural plans....no problem...drive around and find a motel you like....go to the city and buy a copy of that construction blue print from the city's building division. You can go to any architect and have him redraw the title sheet and he will put is stamp on the cover sheet......cheap!
Now you will have legal approved plan, that you can bring the city to get permits.....if they say there are problems, show them the set you bought.....and ask them why. That will stop the city from hustling you for extra fees....stop um' cold.

Now you have your location, your plans, a potential contractor, temporary financing and Permanent financing (30 year financing); and the value of the motel (appraised value at resale) which will should be 230% of the cost of construction.

Your bank loan will be at the appraised value if your smart, and the bank will still have half the loan cash still in the bank when it is completely built, so you should have expenses and they will be included weekly with the weekly draws from the bank to pay the contractor.......there will still be a lot of loan left after construction is completed

When you are through......the mortgage company will fund (pay) the loan and paying off the bank.
Now the extra bank loan you had in the bank is given to you in one check......it is not taxable because it is the "proceeds from a loan ........and not earned income. (tax free money)
The Extra Loan amount should = at least 30% of the value of the construction.
You still have the Limited Partners cash from room sales in a trust account at the security company. 100% at end of construction will can legally be dispersed to you.
Now you still have the "Extra Weekly" cash you drew out of the bank for expenses and soft cost.
That should be at least 10% of construction
AND a small MORTGAGE PAYMENT, AND PLENTY OF CASH TO PAY IT "OFF" OR "MONTHLY PAYMENTS."

WITH THE MORTGAGE, You will add extra value to that amount on your finical statement for your Partners to get the Max "depreciation" from the structure, component depreciation, (the Motel equipment, TV's ice makers and furniture which totally depreciates in 5 years = total value divided by five years. So structural depreciation + component depreciation + operating cost + license and fees will total your "depreciable value" divided by rooms or partners and sent to your investors each year.........they will beg for more motels

So .....think about it and do the math. At any book store ask for a "MEANS Construction Guide" which has all your square foot cost....and "Average Value" per sq. foot cost and value for any type of construction......even Motels.
That will guide your cost, and keep you on track.

Once you kick the numbers around.....you might quit school and start looking for land, and contractors etc.

If you have noticed....so far "credit" is not needed in this process. If you have no credit score....it doesn't mater.

I have kinda been around this industry a while, and its not hard at all.......just keep this information to yourself, do your research.
Then you will see what a jerk "Donald Trump" really is..
His dad lift him a lot to start with....

All it takes is persistence and just the "Nuts" to do the deal.
Its America, man.

IN the Dakota's see "John Q Hammonds Holiday Inn Hotel's" they are a top flight....way above the rest; in Rapid City they are next to the Convention Center....and doing fine.
(go to any and ask for a manager, tell him what you are doing and ask what it takes to run a Hotel, "while" you are trying the "Chicken ala Orange." It's fantastic...their chefs make 300k a year.

Am I Being Ungrateful ?

Dec 24, 2008 by Gigs | Posted in Other - Careers & Employment

Given the rough economy, I guess people who have steady jobs should be thankful. However, I work as a meteorologist for a private company that deals with the 5-1-1 services and state DOT's. Last year was the first time in the company's 12 year history that they gave Christmas bonuses. However, our "bonus" this year was an email from a PR employee saying that the owners wish us a Merry Christmas and there's pizza in the break room for the day shift employees (we operate 24/7/365). Many of us, including me have to work Christmas Eve night and Christmas night. I think even a small cash bonus would have been reasonable. This is a multi-million dollar company coming out of a small market in North Dakota and a company that has experienced tremendous growth and been awarded new contracts in the past few years. I think if you're going to reward employees you have to do it with cash and not food. Am I out of line here? Did anyone else get shafted this Christmas?

---

YES!!!!!! You are paid for doing a job anything else is extra and should not be expected, and is not necessarily deserved. Yes contracts and profitable in the last few years but what does the future look like? Lucky to even have a job at this point. Be thankful for what you have received because they did not have to do even that.

Want to know your credit score?
The average US credit score is 661.
Get your free credit report online today!

For the year 2009 Grant Money is available!
Last year over 35 million Americans get grants.
What are you waiting for?



ND Farmers Market and Growers Association
Carpio, ND 58725. Stephanie Sinner, Marketing Specialist. ND Department of Agriculture ... ssinner@nd.gov. NDFMGA Annual Meeting & Local Foods Summit! ...

North Dakota Farmers Markets | 2006 Directory
Directory to Farmers Markets in North Dakota. Includes locations, times, and contacts. ... Cavalie r Farmers Market. 301 Dakota Street, West, #7. Cavalier, ND 58220 ...

North Dakota Department of Agriculture
North Dakota. Farmer's Market Guide (Area Code 701) This guide covers the following counties: ... ND artists, crafts, antiuqes, baked goods. Farmers Market ...

Market - Wikipedia, the free encyclopedia
Some examples include local farmers' markets held in town squares or parking ... There are two roles in markets, buyers and sellers. ...

North Dakota Markets: Markets in North Dakota, United States
North Dakota Markets Directory. Includes listings for Markets in North Dakota, United States ... North Dakota Markets ©1994-2009. World Web Technologies Inc. ...