Gambling is a pastime that is as old as the hills. Part of the appeal of gambling is that it activates pleasure centers in the brain when you win. Pleasure centers can be activated by many things, such as positive interaction with family, a delicious meal, laughter, and intimacy. However, the kind of pleasure one receives from a sport like gambling, can quickly become addictive. [Read more…]

My friend Jeannette was chatting to me the other day, and she knows I like to gamble a little bit online when I have a free moment. Neither of us is rich, so we can’t afford to be adopting the attitude of playing until you win. But she did ask me about online casinos and which ones I play on and how do I go about picking the best? My answer to her was rather easy, especially rule number one: [Read more…]

You might always be looking for new areas to apply years of gambling knowledge – you might be seeking your next punt on the latest online game, but chances are you can actually benefit from selecting respected and reliable casinos, whose well-trusted games can be both highly lucrative and legitimate. It’s important to choose a reliable source and to try and remain wary of dubious online casinos, not just for financial interest, but for legal reasons as well.

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One of the most common ways to try and save money among self-employed people, entrepreneurs, and people who generally make money outside of formal corporate structures is choosing not to officially register their operation as a formal business entity. The cost-saving implications of not officially registering your business are in many instances understandable because in addition to making sure your registered business remains legally compliant, the process of registering the business in itself costs a bit of money. How much it actually costs to officially register differs according to which country your business will be registered in, but there are always some costs involved.

Forgoing formal registration of your business also means certain national or state regulations specifically aimed at formal businesses don’t apply to you, like perhaps otherwise having to contribute to your state’s equivalent of the Job Seekers Assistance Fund, through contributions worked into your business’ tax bill. Formal workplace health and safety regulations can also be quite costly to have to adhere to; something which is likely a non-entity if you’re not formally registered.

Why Register a Formal Business then?

For all the cost-saving benefits you can inherently take advantage of by simply choosing not to formally register your business operation, in the long run it makes for better practice to register your business.

Personal Legal Protection

Perhaps the biggest reason why you’d want to make the existence of your business official is the personal legal protection it offers. Your economic activities are otherwise directly tied to you as an individual, so heaven forbid, but if someone were to get injured as a result of your economic activities, you’d be personally liable if you haven’t officially registered a business. Registering a business separates you personally from the business and should your registered business run up debts or incur any other liabilities, your own personal assets cannot be tied to the business and subsequently seized in an attempt to pay off those debts and other liabilities. You’re obviously still responsible for all activities and consequences of your business operations, but only in your capacity as a director or business owner, and not in your personal capacity.

Legitimacy

Whichever field or industry you’re involved in to generate your income, your personal reputation and acclaim can only take you so far. Also, it can take one bad experience with just one of your customers or even a competitor to undo all the hard work you put into building up your reputation. This is where the legitimacy that comes with officially registering your business becomes apparent because a formally registered business’ credentials can be verified by vigilant prospective clients who are otherwise not too comfortable entrusting an individual with their money.

If you’re involved in the research and development of new products, services and solutions, the legitimacy that comes with registering your business also opens you up to benefits such as qualifying for R & D tax credits. As an individual, it would otherwise prove to be very difficult to demonstrate your compliance with the regulations surrounding the requirements for you to even qualify for Research & Development grants and perhaps some other sources of investment and funding.

Considering a buy-to-let property as a means of stable investment, and actually going out and investing in a buy-to-let property are two very different process. While it may seem like an incredibly profitable investment – granted many people have made their fortune on BtL – it is important that you do not jump into things before having considered all the possibilities.

New buy-to-let investors would do well to look online for advice and assistance when choosing their ideal property, as this can be one of the largest investments you make in your lifetime. It is important that you choose wisely, or risk making one of the worst possible mistakes you can.

Choose a Promising Area
You want to make your property as attractive as possible to potential tenants. Ideal property locations are within walking distance of the town centre – not too close and not too far away – and within reasonable proximity to railway stations, bus stations and taxi ranks. For properties that are likely to attract families, proximity to local nurseries, schools and colleges is also important.

Consider your Target Tenancy
Depending on the location you have chosen, you will want to consider the types of tenants often attracted to properties in that area. Your safest type of tenants are couples or families in a long term, committed relationship with both spouses employed and contributing to the rent of the property. These tenants are more likely to provide a reliable source of income Then come single tenants in long term professional employment, new or young couples in employment, single professionals in short term employment, students and tenants on disability or housing benefit.

You will be able to determine the types of tenants who are likely to view your property by looking at the surrounding area and what it has to offer each sub-set of tenants. For example, a built up city area with a high employment rate is likely to attract young professionals looking to make their fortune. A city area with a college or university in close proximity is likely to attract student tenants or graduate tenants.

Avoid Fixer-Uppers for First Time Investments
Some property tycoons make a mint by buying old, run down properties, doing them up and then renting them out or selling them on for an arm and a leg. These people, however, often have money to waste and can afford to take a risk with such properties. As a new buy-to-let investor, you are better off investing safely and then gaining some profit before making a larger risk such as buying a run-down property.

Try for newer properties that are stable and secure, or older properties that have recently been renovated. If you are unsure you can always ask the assistance of a solicitor or chartered surveyor, as they will be able to offer expert advice on the condition of a property if you are interested in a purchase.

Consider your Personal Level of Investment
Do you want to have a personal relationship with your tenants, or would you prefer that an estate or property manager took care of everything? Whether or not you want to have a personal level of investment determines your need for a property manager. While they do charge their own management fees, it puts all responsibility in their hands; including sorting out repairs, insurance and the like. This can help to alleviate a lot of stress otherwise taken on by landlords and can help leave you to enjoy the finer things in life.

On the other hand, you will save money by conducting this business yourself. This does mean that any time the tenants find a problem, they will speak to you instead of a property manager. In some ways this can be beneficial, but if you have problem tenants that seem intent on breaking everything, you may end up in more trouble than your money is worth. Take each option with a pinch of salt and go with what you think will work best for your needs in the long run.

While buy-to-let investments can be a really profitable business if done correctly, there are a number of risks involved and if you just jump ahead without having read all of the fine print, there are so many ways in which you can get burned. There is no such thing as doing ‘too much research’ on a subject and if you are entirely unsure about a property, you can always take your money elsewhere; it is not the end of the world.

Article provided by Mike James, an independent content writer in the property industry – working alongside a selection of companies including London-based investment specialistsPrime Centrum, who were consulted over the information contained in this piece.

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