We are pleased to announce that from January 2nd, 2012 we will be joining forces with Mel Jackson Tax Services Inc. Mel Jackson is a well established tax and financial services firm in Charlotte. I am very excited about this opportunity to offer a greater range and better quality of services in the future. You can find out more about Mel Jackson from their website at www.meljackson.com . Together we will be able to offer a superior level of support on tax matters, a well as provide payroll and accounting services. Our combination will allow us to really get our Investment Advisory business off the ground, and increase our Corporate Finance and Investment Banking business which allows us to offer working capital finance where the banks cannot. We will also be working on the formation of an audit and assurance CPA firm. I am particularly excited about Mel Jackson's strength in cross-border and expatriate taxation, a key component of our work. This aspect of international taxation is really under-served in Charlotte, with many tax preparers often missing significant opportunities and pitfalls because they do not deal with it regularly. Our knowledge and experience in this area will be hard to beat, so even if you're just looking for a second opinion, give us a call (704 206 0547) - we may save you a lot of money! I will be communicating with all ..... read more
Read this week's Economic & Financial Commentary from Wells Fargo Economic Group read more
Current Real Estate Opportunities: 1. Residential Town Home in Ballantyne Area of South Charlotte: Property is in foreclosure and in good condition, in a complex with a pool and club house, close to top school in the region. We would consider an offer to the sellers of $105,000, and budget for repairs of $15,000; Repairs would inlcude re-painting, re-flooring, repairs to minor water damage at back sliding door, back garden (small) landscaping; Expected sale value would be $150,000 to $160,000; expected lease value would be $1,100 net of Home Owner's Association levy; Timing from Offer to Close Out (Sale or Lease) would be 3 to 4 months. 2. Commercial Office Block in Matthews, South Charlotte: Double story building with 23 small office suites, approximately 25% leased out at present. Building is in foreclosure but in good condition, superb location close to major arterial. Building covers only about one third of the available land; We would consider an offer of $500,000, with a commercial mortgage of $375,000 and a cash investment of $150,000 - $125,000 down payment on mortgage and $25,000 towards closing costs and working capital to bring in more tenants; Current rental income amounts to approximately $2,000 per month, enought to cover the mortgage interest at 5%. Office suites rental is very attractive to small business tenants, so expect to increase rental to ..... read more
On behalf of our client, we have purchased a foreclosed house in South Charlotte, North Carolina, USA and successfully leased it out on a 12 month lease. Our brief was to identify the opportunity, liaise with realtors to make an appropriate offer, taking into account potential repairs, manage the purchase, home inspections, payment of all bills, monitor and manage repairs, and prepare the house for show to prospective buyers or tenants. The details were are follows: 1. Purchase of house for $130,000 in foreclosure; 2. Repairs, closing costs and capitalized interest budgetted at 20,000; 3. Purchase in July 2011, leased from October 2011 for a 12 month lease at $1,350 per month; 4. Realistic value of property is currently circa $209,900. The deal structured with our client is as follows: 1. Client put up capital for the acquisition and in return receives a 5% interest return; 2. We charge no fees, but take 50% of the profit on rental and sale, AFTER accounting for 5% interest, provision for repairs and all costs. We have several other opportunities like this. If you are interested, contact us for information and references : info@wealthdesign.biz read more
Business news headlines Other news today read more
Looking to do business in the USA? The USA remains the biggest consumer economy in the World. Any business that really wants to succeed on a global basis, should and needs to do business in the USA. With over 20 years experience doing business in South Africa and the UK, and now doing business in the USA, Wealth Design International is perfectly placed to assist you in getting established in this lucrative market. Wealth Design International provides a one-stop-shop for getting set up for business in the USA. From company formation, opening bank accounts, tax registrations to physical office and personal representation, Wealth Design International has the professional service you need. read more
Attached (click "Read More" and then follow this link) is our Executve Brief on Forex Controls in South Africa. The brief gives readers a short summary of the options available to those wanting to export capital out of South Africa. read more
The Economic Stimulus Package was finally approved by the Senate on Friday evening and goes for signing by President Obama the week of February 16th, 2009. The finally billis around $787 Billion, but there is dividsion on whether the bill will do what it is supposed to, that is Stimulate the economy. We have analysed the bill based on an analysis done by the Wall Street Journal (before the final number came out, but largely unchanged from the final version). We have made some assumptions to try to gauge whether the package will be stimlatory or not, and have done this by looking at the description of the items and applying some common sense thinking to determine if the description will lead to job creation and economic growth. This analysis is available at the following link... Our conclusion, based on this and the general commentary in the public domain, is that the package will hae limited stimulatory effects. Having said that, something is better than nothing and this combined with the dramatic increase in money supply should all help towards staving off a depression. read more
South Africa's budget speech was presented for what may be the penultimate time by Minister Trevor Manual this week. The budget appears to have been pretty much in line with expectations, and the trend from prior years, namely a conservative budget with a focus on government spending. There has been a swing over the past couple of years to more infrastructure spending, which we believe is a good thing in light of South Africa's burdgeoning unemployement crisis. Some commentators have noted the large portion of government spending dedicated to social spending. This obviously is not a good thing as it does nothing for the growth and sustainability of the country's economy, something we believe is key to the long term success of the country as a whole. An attempt to encourage international investment appears to have been made, also a good thing. We would like to have seen this more prominently promoted and tied to an active reduction in Exchange Controls. The big change in the budget is that the Minister is forecasting a budget deficit, which has now ballooned because of the knock on effects of the global economic crisis. This will increase the country's debt levels, which on their own are not anywere near serious levels, when read with the current account deficit of 8% of GDP could be a cause for concern about stability. For a good, balanced commentary on the budget from an economic standpoint please go to Morgan Stanley's commentary on the ..... read more
