House-Hunting as Vacation

As the second-home market in Latin America has emerged, so has a cottage industry of tour operators eager to attract foreign buyers seeking vacation retreats and investment properties.  Part vacation, part real estate boot camp, the following agencies provide potential home buyers through the legal and financial particulars of overseas ownership:

- Tropical Pathways runs tours to Panama, Dominican Republic, Mexico and Honduras;

- International Living leads tours in Panama, Costa Rica and Nicaragua

- Simply San Miguel offers some 15 different vacation options for visitors to San Miguel de Allende in the Sierra Madres of Central Mexico, including a Real Estate Curios Tour

Topics addressed on the six-night trip - which costs $1,285 (double occupancy) with hotels, local transporatation and some meals - include health care and home insurance.  Tourgoers also meet architects and designers who can advise on how to comply with the local community's architectural guidelines.

IRAs: Do You Have to Invest in Stocks or Bonds Only?

No!  It may be surprising, but it's true: No law demands that retirement plans be invested in stocks, bonds or mutual funds.  In fact, the government allows investors to put the money in their I.R.A.'s and Roth I.R.A.'s into almost anything, be it condominiums or airplanes.  A growing number of Americans are doing just that, though so-called self-directed I.R.A.'s that steer clear of mainstream investments.

Most self-directed I.R.A.'s are invested in real estate.  Four of the largest custodians of self-directed I.R.A's are Fiserv, Sterling Trust, Equity Trust and Entrust.  Sterling Trust and Equity trust provide advice and processing checklist for those considering using their I.R.A. to hold debt-financed real estate, which is subject to a non-recourse promissory note.

Note:  The biggest risk of using a self-directed I.R.A. is breaking the law.  Generally speaking, I.R.A.'s cannot be used to invest in collectibles (stamps etc..) and life insurance.  And accountholders may not personally benefit from their investment in any way other than making legal withdrawals after the age of 59 1/2.  This means that you cannot live in a house you bought with your I.R.A., or put rental income anywhere but back into the I.R.A.  Finally, any transaction with a lineal family - like children, parents and grandparents - are prohibited.

Unified Court System E-Court Program for NY

The Unified Court System of New York has lunched a pilot E-Court program - WebCivil Local (www.nycourts.gov) - which allows internet access to the records of a limited number of courts.  So anyone who wants to check and see if any unquestionable lawsuits by credit card companies have been filed against you, I strongly suggest you click here.

Free Help for Starting a Business

More than 550,000 small businesses are launched each year. Unfortunately, a third of these start-ups fold withing two years. Rather than spend thousands for workshops to help improve your odds of success, you can get free advice from the following resources:

- The Small Business Administration, whose website provides information on how to market your business;

- Circle Lending: Circle lending handles services like electronic billing and payment processing on interpersonal loans fron family and friends, who most entrepreneurs turn to when looking for seed money; and

- Angel Capital Association: A professional association for angel investor groups, who are typically affluent people who fund early-stage start-ups in exchange for an equity stake.

5 Tips on Adversiting Basics

5 Tips on Advertising Basics

- Be consistent in your ad message and style including business cards, letterhead, envelopes, invoices, signs and banners.

- Newspapers, radio and TV stations are helpful in producing the advertising that you will be running with them.

- While word-of-mouth advertising has been around a long time, it usually falls short of being able to attract the number of customers needed to be successful in business.

- Promote benefits rather than features. A benefit is the emotional satisfaction your product or service provides, or a tangible performance characteristic.

- Know your competitors. Knowing everything about your competitors is just as important as knowing everything about your own business.

* From score.org, which is a network of more than 10,000 volunteers who mentor wannabe moguls in one-on one sessions.

NYT: A Little Guidance

Click here to read a New York Times article about the college admissions process, including the pros and cons of hiring a private counselor.

Top Ten Strengths and Experiences Colleges look for in High School Students

1. A rigorous high school curriculum that challenges the student and may include AP or IB classes.

2. Grades that represent strong effort and an upward trend. However, slightly lower grades in a rigorous program are preferred to all As in less challenging coursework.

3. Solid scores on standardized tests (SAT, ACT). These should be consistent with high school performance.

4. Passionate involvement in a few activities, demonstrating leadership and initiative. Depth, not breadth, of experience is most important.

5. Letters of recommendation from teachers and guidance counselor that give evidence of integrity, special skills, positive character traits, and an interest in learning.

6. Special talents or experiences that will contribute to an interesting and well-rounded student body.

7. A well-written essay that provides insight into the student’s unique personality, values and goals. The application essay should be thoughtful and highly personal. It should demonstrate careful and well-constructed writing.

8. Demonstrated enthusiasm, often exhibited by campus visits and an interview, showing an interest toward attending the college.

9. Out of school experiences, including work and community service that illustrate responsibility, dedication, and development of areas of interest.

10. Demonstrated intellectual curiosity through reading, school and leisure pursuits, and more.

This list is based on a 2006-2007 survey of Independent Educational Consultants Association (IECA) member consultants. For more information about IECA click here.