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 our clients in the New Year with plans and preparations for the 2012 tax season. In the meantime, may I wish you a Happy New Year and successful 2012.

Read this week's Economic & Financial Commentary from Wells Fargo Economic Group

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

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 $4,000 quickly. Cash flow positive from Day 1!
• Expected value of building fully let would be at least $700,000 at 7.5% cap rate, with potential to sub-divide or build on to the extra land.
• Time from offer to closure would be 1 to 2 months.

For more information and references please contact us : info@wealthdesign.biz