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11 Jun, 2019 By Kalel Ventura

Tips for Buying Condos in Mississauga

Shopping for a condo in Mississauga can be quite a challenging experience, especially if you do not have a lot of experience in real estate. To ensure that you get the right condo at a great deal, you should consider employing the services of a realtor. There are many realtors available in Mississauga, but ensure that you only enlist the services of a licensed, experienced, and trustworthy realtor when buying a new condos in Square One. Below are a few helpful tips that you can use when buying a condo in Mississauga.

Obtain Financing

It is essential that you secure the financing of the condo before you even begin shopping for it. If you wish to get a mortgage, for example, make sure that you get a pre-approval first. This is because it might be a bit more challenging to secure a loan for a condo as compared to other housing units, given that most lenders disallow condo purchases. Working out the finances will also help you to narrow down on your options to only what you will be able to afford, making the search a lot easier.

Know the Association Fees

A majority of condo communities usually have some fees that each resident has to pay. These fees are for various expenses such as security, maintenance, and insurance. The charges might include annual, bi-annual, quarterly, or monthly. Find out everything you need to know about the association fees, including how the fees are arrived at and how they are put into use. The amount may also influence your decision as to whether to buy the condo or not.

Review the Association Rules

There are usually rules and regulations that are set by condo associations to ensure that all members of the condo community live in peace. The rules can limit what you can do even though you own the condo. For example, the rules might include a restriction on pet ownership. If you are a pet owner, such a condo might not be the ideal choice for you.

Who Manages the Property?

You should know who is charged with the responsibility of managing and maintaining the condo. For example, who should clean the common areas? If a company is in charge of maintenance and management, make sure that they are very competent in what they do. This is because poor maintenance can significantly affect the resale value of the condo.…

17 Jul, 2018 By Kalel Ventura

Blockchain Technology Explained

Blockchain is defined as the distributed data structure and algorithm that assists in managing electronic payments without having a regulator or intermediary. The blockchain technology was initially designed for Bitcoins although the other types of cryptocurrencies have also adopted this type of technology. What made the engineers to invent this technology was because the banks and the governments flagged off most of the digital payments.

Working of the Blockchain Technology

Well, blockchain technology refers to the distributed ledger technology that has been designed for the Bitcoin cryptocurrency. Since Bitcoin had been rejected by various governments and banks, they decided to come up with this technology to help their customers transact with ease.

The blockchain technology was thus invented to help customers transact without the need or regulators and intermediaries. Coinmama offer incredible reviews on different types of cryptocurrency.

Double Spend

When we talk about online payments, one of the most common challenges that many technologies face is the double spend. Digital transactions are basically data so it is easier for certain transactions to replicate themselves twice. It is thus important to come up with a system that will prevent the double spend as it might cause much pain to the customers especially if they are charged twice. The blockchain technology prevents the occurrence of the double spend without the need of a reserve fund.

Verification of Payments

Whether we are talking of analog or digital payments, it is always important to verify all the transactions. Whether you are sending cash or receiving cash, it is important for the digital system to check all the transaction to make sure that indeed the valid and correct payments are being made. The blockchain technology helps in the monitoring and verification of the cryptocurrency transactions by calling upon the decentralized networks. The algorithm of the networks ascertains that every transaction is correct before the completion of the process.

Bitcoin Network

So what makes the Bitcoin network, the Bitcoin network is made up by numerous nodes. The numerous nodes that make a Bitcoin network needs to agree that the transactions made in the past are unique before they are cryptographically sealed into something that is referred to as a block. Every time a new block is formed, it is linked to the previous blocks that had been sealed. This is essential as it helps in creating what is referred to as an accepted history. The history of every transaction whether it is the purchase or sale of cryptocurrency is thus recorded.

Secure Results

The secure results in the cryptocurrency are as a result of the blockchain technology that has numerous nodes that have to agree on the order of the particular transactions. Since the network is made of different nodes, it ascertains that all the transactions and the resulting balances are noted down. The records and balance remain provided that the nodes remain independent.…

14 May, 2018 By Kalel Ventura

How to Get a Good Mortgage Deal

Shopping for a mortgage deal can be quite challenging. You need to make sure that you look for a good mortgage rate so that you get value for money. When you get a competitive deal, you will end up saving money and paying less than the current market rate.

The real estate market is quite competitive, and a lot of external factors drives it. When looking for a mortgage, the bank rates will determine the type of rate that you get. Here are tips to help you in getting a good mortgage:

Improve your Credit Score

Improving your credit score is the best way to get a good mortgage deal. When your credit score is good, it will be possible to negotiate for a good credit mortgage rate. Before you start shopping for a mortgage, it is advisable that you take time to repair your credit.

Repairing your credit means that you should pay all the bills on time and make sure that your credit reflects a good amount. One year before you take your mortgage, make sure that you have a good score. With a good credit score, your options for lenders will be wide.

Diversify your Options

It is important to diversify your options when searching for a mortgage. Do not just take the first mortgage that is available to you. Make sure that you check as many mortgage lenders as possible before you make a choice.

Using a mortgage broker might be the only way to get a good rate. Most of the brokers know all the lenders in the market, and they will help you in narrowing down your options to get the best deal.

Raise Enough Deposit

Raising enough deposit is the best way to negotiate for a low rate. When you raise a high deposit, it will translate to low deposits and interests. Raising deposits is usually a challenge, but once you raise enough deposit, you will be surprised at how the interest and installments will be easy to raise.

Check for Fees

When shopping for a mortgage, many people tend to look at the interest rate. Unfortunately, that is not the right way to go about it you need to make sure that you look for other fees. Most of the lenders have hidden fees that cannot be explained. If you the lender has a lot of hidden fees, it will end up increasing the fees drastically.…

14 May, 2018 By Kalel Ventura

Financial Challenges for Small Business

Small businesses face a lot of financial challenges. It is important to learn how to solve the problems and grow the business. The reason why many businesses do not go past their first anniversary is due to financial business.

Having a passion for the business is one thing but learning how to beat the financial challenges is a whole different story. Before you start any business, it is important first to know the financial challenges that you are likely to face. Here are some challenges that businesses face and their solution:

Low Profits

Low profits are a big financial challenge to much business. It is one thing to make profits, but it is another thing to make profits that are sustainable. When it comes to profits, it is important to make sure that the profits are sustainable. You need to remember that you need cash to pay for rent, employees and also cover your overheads.

If you feel that the profit that you are making from your business is not sufficient, then it is time to make sure that you look for the areas of your business that are taking too much money. You need to reduce your expenses so that you can make reasonable profits.

Lack of Money for Daily Operations

Apart from having the cash for stock and rent, you need to make sure that you also have money to maintain daily operations. You will need money to pay for daily expenses, and there is no better way to do it than having a cash reserve for daily operations.

Being unable to maintain daily operations means that you need to look for a way to get the extra cash. You can do this by streamlining the methods of payment to make sure that cash reaches your business as soon as possible.

Irregular Cash Flow

Irregular cash flow might be a big problem to business. You need to make sure that your cash flow is good so that you can meet all your expenses. If your business has problems with cash flow, the debt might be the problem. You need to make sure that you are paid for the goods or services in time to avoid problems that might occur due to delayed payments.

Bad Debts

Bad debts are a challenge to small business. It is advisable to operate on cash basis especially when starting your business. As your business grows and you build trust with your customers, you can offer goods and services on credit without affecting the business.…