Real Estate Feasibility Study (Income Side)- $1.2 Billion Developer Tells You How To Do One

Written by Colm Dillon

There are two sides to a feasibility study and in an earlier article I discussedrepparttar cost side ofrepparttar 146802 format and:

Now Let's Discuss The Income Side

Withoutrepparttar 146803 Sales Income, All You’ve Done Is Spend Money, And Anyone Can Do That.

So that we are clear in what I am going to define for you, let me say that there are two forms of Income.

We shall be dealing with Sales Income, in this article, which in our case will consist of large amounts of money being received as a developer in exchange forrepparttar 146804 property units we have created.

The other form of income in a feasibility study, is Rental Income and will be addressed at another time when I write an E-book on Commercial Development.

Sales Income

Because ofrepparttar 146805 make up of our feasibility study sheet, there will be no deductions from out Gross Sales Income, because we have allowed for those costs onrepparttar 146806 Cost Side of our feasibility study.

Items such as sales commissions for sales agents and various marketing costs have already been allowed for previously.

Now I have seen some formats of feasibility study, which deducts marketing costs fromrepparttar 146807 Gross Sales Income to produce a Net Sales Income.

It achieves nothing – "all costs are costs" and they should be put onrepparttar 146808 cost side ofrepparttar 146809 feasibility study, which is what I do and have always done.

When Can You Get Your Hands On The Sales Income.

Gettingrepparttar 146810 sales income into your account is very important, yet many people never askrepparttar 146811 question as to whatrepparttar 146812 procedure is “exactly” in their neck ofrepparttar 146813 woods.

Get to your Conveyance Expert and have them give you a schedule of events “with an estimate of time for each stage.”

This information is important in preparing your cash flow feasibility study format, as it results in reducing your interest cost.

So by knowing this information atrepparttar 146814 beginning of a development investigation, you are adding a little bit of “certainty” torepparttar 146815 early stages of your feasibility study.

Let me give you an example:

Atrepparttar 146816 end ofrepparttar 146817 construction phaserepparttar 146818 builder moves off site, there are a whole range of things that have to occur, any or all of which can delay, settlement taking place and so delay you gettingrepparttar 146819 Sales Income.

Some of these things are:

•Architect’s inspection ofrepparttar 146820 entire project.

•Architect preparing a Defects List.

•Builder calling back subcontractors to correct defects.

•Architect’s final inspection.

•Architect issues Completion Certificate

•Surveyor (engineers in some countries) does final measurement ofrepparttar 146821 individual residential accommodation units and compares to Unit Plan that is included inrepparttar 146822 Sales Contract.

•Preparation ofrepparttar 146823 Final Unit Plan (as used by conveyance office) for settlement.

•Lodgment ofrepparttar 146824 Unit Plan withrepparttar 146825 Titles Office.

•Registered Title Issued byrepparttar 146826 Titles Office.

Are YOUR customers YOUR business?

Written by Val Burnett

Are YOUR customers YOUR business?

Customer support should be a high priority for any business, whether you are starting up or already established. At MBP Advertising, our motto is "Our business IS our Customers."

Daily, we strive to show our customers that their concerns, comments and their time is very valuable to us. By making customer support a high priority, it givesrepparttar customer a sense of trust in our company and they know that they can come to us with any question and we will answer it and usually pretty quickly.

You need to make sure your customers receiverepparttar 146769 same quick and efficient support. How you handle customer support can and will make or break a company. Too many companies now, concentrate onrepparttar 146770 front-end sale, but very rarely work at keeping that customer afterrepparttar 146771 sale has been established. If you have a website that focuses on "free" products or services, these customers should be treatedrepparttar 146772 same as if they were "paying" customers.

If you treat all customers, whether paid or free,repparttar 146773 same and with respect, you will find these customers will be there for years to come. It is these customers, that will help you establish your company and they will refer others to you and continue to purchase or use your services.

Without customers, where would your business be? Each and every customer support issue, you need to address promptly, honestly and in a professional manner.

How can you handle customer support issues?

There are quite a few tools, software or programs that will assist you with dealing with customer support. The most favorite now isrepparttar 146774 Help desk system. Many companies are integrating these support systems into their websites.

Help Desk Ticket System

This is one ofrepparttar 146775 more popular customer service systems being used now. With a help desk system, your customer can log a support ticket, they can trackrepparttar 146776 ticket and receiverepparttar 146777 response they need. With most ticket systems, they also include a knowledge database, this is a place where you can putrepparttar 146778 most frequent asked questions. By providing this, your customers may browserepparttar 146779 database and may very well findrepparttar 146780 answer to their question, before having to log a support ticket.

All tickets put in by a customer are logged and saved inrepparttar 146781 database. This is very beneficial, because you andrepparttar 146782 customer can track what was previously said, whatrepparttar 146783 issues were and just by saving it, it is a place where your customers can reference later.

A help desk system will also help you analyze your customer support promptness but also it allowsrepparttar 146784 customer to raterepparttar 146785 service they received. This is very valuable information and will show you if your customers are happy withrepparttar 146786 support responses andrepparttar 146787 time it took to receiverepparttar 146788 answers to their questions.

We use for our ticket system, it is affordable and is loaded with features. Liz Smith, handles our customer support and by logging intorepparttar 146789 ticket system, I can seerepparttar 146790 average response time as of May 2005 is 2 hr(s) 10 min(s) 35 seconds plus she has responded and closed over 5500 tickets since we installedrepparttar 146791 ticket system just over a year ago. Our customers have rated Liz's prompt and helpful responses 5 stars!

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