Please go to our main web page for lots of photos to be added soon.

Also i think some of our guys from work are requesting life time memberships..lol

Lots of new updates coming soon

The S&P/Case-Shiller index of property values increased 4.6 percent from May 2009, the biggest year-over-year gain since August 2006, the group said today in New York. Another report showed consumer confidence dropped this month to the lowest level since February.

A retreat in demand since the April 30 contract-signing deadline to be eligible for an incentive worth up to $8,000 raises the risk home prices will slacken in coming months. The lowest mortgage rates on record are making houses more affordable, which may help overcome some of the effect of the mounting foreclosures that are pressuring property values.

“We just are going to muddle through for a while,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York, who forecast the index would rise 4.5 percent, the closest of those surveyed. “I’m not looking for big movement from here either up or down.”

The Conference Board, a New York-based research group, said today its consumer confidence measure dropped to 50.4 in July from a revised 54.3 the prior month. Growing concern over the outlook for incomes and the economy over the next six months depressed the index.

Shares Rise

Stocks rose after the reports on improving corporate earnings. The Standard & Poor’s 500 Index climbed 0.4 percent to 1,118.86 at 10:03 a.m. in New York. Treasury securities dropped, sending the yield on the benchmark 10-year note up to 3.04 percent from 2.99 percent late yesterday.

Economists forecast the home-price index would rise 3.9 percent after a 3.8 percent year-over-year increase in April, according to the median of 26 forecasts in a Bloomberg News survey. Estimates ranged from 2.9 percent to 5.1 percent. Year- over-year records began in 2001.

The gauge rose 0.5 percent in May from the prior month after adjusting for seasonal variations, following an April increase of 0.6 percent. Unadjusted prices climbed 1.3 percent from the prior month.

The year-over-year measure provides better indications of trends in prices, the group has said. The panel includes Karl Case and Robert Shiller, the economists who created the index.

California Rebounds

Thirteen of the 20 cities in the S&P/Case-Shiller index showed a year-over-year increase, led by an 18 percent gain in San Francisco and a 12 percent increase in San Diego.

Compared with the prior month, 19 of the 20 areas covered showed an increase on an unadjusted basis, led by a 2.8 percent gain in Minneapolis and a 2 percent advance in Atlanta. Las Vegas was the only city to show a month-over-month drop.

“There may still be some residual impact from the homebuyers’ tax credit,” David Blitzer, chairman of the index committee at S&P, said in a statement. “It still looks possible that the housing market might bounce along the bottom for the foreseeable future, before showing any real improvement that will filter through to the rest of the economy.”

Sales of existing houses reached an almost three-year high in November, the month the government’s tax incentive was originally due to expire. Since the extension lapsed on April 30, demand has again retreated.

Jobs Needed

With the April 30 deadline for signing a contract now past, it will be up to advances in the labor market to support home sales. Private U.S. companies added 83,000 jobs in June, fewer than economists had forecast, and initial jobless claims have averaged 449,700 this month, a sign firings remain elevated.

Another challenge to new home sales is the rising tide of foreclosures. Home seizures jumped 38 percent in the second quarter from a year earlier, RealtyTrac Inc. said last week, putting lenders on pace to claim more than 1 million properties this year.

NVR Inc., based in Reston, Virginia, said last week the original June 30 closing deadline to qualify for the tax incentive resulted in a “surge in settlement activity” in the second quarter, with closings jumping 63 percent from the same time a year earlier. BY contracts, new orders fell six percent in the period.

A drop in borrowing costs is helping to mitigate the decrease in housing demand. The average rate on a fixed 30-year mortgage dropped to 4.56 percent last week, the lowest since data began in 1972, according to figures from Freddie Mac.

============================================================
               1-months 3-months 6-months  1-year  2-years
               earlier  earlier  earlier  earlier  earlier
============================================================
US Composite-20   1.27%    1.65%    0.17%    4.61%  -13.15%
------------------------------------------------------------
Minneapolis       2.83%    2.35%   -1.36%   11.61%  -12.55%
Atlanta           2.02%    2.05%   -1.35%    1.74%  -13.25%
San Francisco     1.71%    5.56%    4.05%   18.31%  -12.62%
Los Angeles       1.68%    1.66%    2.92%    9.73%  -12.02%
Boston            1.56%    2.98%    1.28%    4.83%   -2.74%
Dallas            1.50%    4.02%   -0.02%    2.94%   -1.38%
Washington DC     1.45%    3.17%    1.62%    7.44%   -8.62%
Chicago           1.22%   -0.55%   -5.77%   -1.48%  -18.70%
Portland          1.18%    2.99%   -1.60%    0.69%  -15.70%
Seattle           1.16%    2.27%   -1.17%   -1.44%  -17.83%
San Diego         1.07%    3.29%    4.52%   12.44%   -8.38%
Cleveland         1.03%    4.25%    1.05%    3.66%   -2.78%
Miami             0.89%   -0.81%   -1.84%    1.20%  -24.26%
Tampa             0.88%    1.28%   -0.98%   -1.47%  -21.93%
Phoenix           0.85%    0.81%   -0.86%    7.18%  -29.44%
New York          0.82%   -0.08%   -1.29%   -0.42%  -12.24%
Detroit           0.71%   -3.20%   -5.69%   -2.51%  -26.38%
Denver            0.58%    2.97%   -0.04%    3.60%   -1.15%
Charlotte         0.29%    0.35%   -1.91%   -2.85%  -12.59%
Las Vegas        -0.46%   -1.02%   -1.79%   -6.53%  -36.47%

We as a company love to see our customers happy & we push our selves to go that step further by providing you extra proof that we cannot hide being members of Check-a-Trade &  Guild of Master Craftsman we love to be vetted & monitored with our customers being hands on with leaving there feed back how & when ever they like,, This gives customers food for thought so if your builder does not comply with what they say you can give your verdict to our monitoring mothers (CheckaTrade & The Guild)  they will then give us the fairy liquid treatment….. ouch… no decent builder wants that over his signs do they… We have absolutely no control over if this is to be put live on there sites ..

Below is a very good statment from Check-a-Trade

Check-a-trade separates rogue trades from the honest and reliable. It stands for accountability and credibility. Rogues will not want to be vetted and will certainly not be willing to be monitored and have the results made public. This is the core of what will separate the honest from the dishonest.
Accountability
All members undergo a vetting procedure and have to agree to a code of conduct and ethics. All have to agree to give monitoring cards out to their customers to fill in when the work has been completed. This really is putting reputations to the test. The results of the monitoring cards and any recommendations received via any other source will be displayed on a public forum.
Trades and services that have joined Check-a-Trade have made a pledge with their customers (generated from The Trade Register) to:

1. Be honest giving realistic work start dates & receipt work undertaken.
2. Keep appointments, call if late or re-scheduling & return ansa messages.
3. If unable/unwilling to undertake work, redirect back to The Trade Register
4. Be polite and treat customers’ property with utmost respect.
5. Never demand full payment before work is fully completed.
6. Inform them of any minimum charge or call out fees.

Trades and services that have joined The Trade Register have made a pledge with The Trade Register to:

1. Agree to be vetted, which may include a credit check.
2. Leave at least 10 monitoring cards with 10 different customers annually.
3. Not sub-contract work generated from The Trade Register.
4. Return telephone messages left by The Trade Register promptly.

So as a decent company we work close to make sure we do what we say & keep in our time limits & to our prices… but also customers you should not think that if extra works are to be done or if you change your mind that this should be in the price… all us builders decent one’s anyway will try to bend backwards to either do it as a gesture or even @ cost price the main thing is we work with the customer at all times & work to your requirements to give you your comforts @ home…

Be wise cut out the Rogues & come to the guys that care….

Best Wishes

Karl Luker @ Four Corners Properties LTD

Following previous information here is the final position. Covered in this note are the following
points.

1. The strategy; ownership/tax
2. Examples of acquisitions – previously sent information
3. Research on the area and the business case.

Background

Having acquired a detached property in Wayne County, Michigan, USA for £12,000 and spent £6,000
refurbishing, it is now rented out yielding 20%+ net. We are now looking to acquire further
properties and inviting investors to help us exploit bulk acquisitions. We have a good team of
property professionals in place to support future acquisitions and ongoing maintenance. We know
which geographical areas to focus on.

We are planning to rent the properties to a mixture of both private and government backed tenants.
Properties have to pass County standards prior to rental and we purchase properties that need
minor works (decor/carpets/kitchens etc) to meet those standards. We’re proposing to carry out
necessary works to ensure they reach this required standard for the rental permit. Rental demand is
high due to lack of credit and this is one of the main reasons for discounts of up to 80% of previous
selling prices (these discounts are disappearing fast). The yields are exceptionally high and market
recovery would deliver potentially strong capital growth.

Wayne County, Michigan

Wayne is in Southern Michigan and has been singled out for significant inward investment as you
can see below.

Applications for the TURBO program due Dec. 4

Source: Wayne County Land Bank, 10/30/2009

Although there are several different land banks operating in the State of Michigan, only the Wayne County Land Bank has transformed the revenue derived from the traditional land bank model into an economic incentive for developers who invest in Wayne County.

Wayne County’s TURBO Program (Transforming Underdeveloped Residential and Business Opportunities) provides meaningful financial incentives to private property owners who develop or rehabilitate unproductive land within the County. This program, offered exclusively through the Wayne County Land Bank, has only been in operation since 2006. In three years, it has helped spark more than $400 million in new investment in Wayne County and created more than 3,000 new jobs.

Under the TURBO Program, an investor may receive up to:

• One year tax exemption during the year of construction +
• 50% reimbursement of an amount equal to the real property taxes for 5 years (i.e., partial reimbursement for improvements made to the property)

This year’s deadline to submit TURBO applications is DEC. 4, 2009.

This year’s deadline to close is DEC. 16, 2009.

For more information about the TURBO Program, please visit www.waynecounty.com/landbank.

Acquisition strategy going forward;

Collective acquisitions seem the preferred route with shared risk/reward. A mixture of high
yield/low value or higher value slightly lower yield properties with better growth potential are our
target.

An American based company and bank account is now set up and we are planning to acquire
properties in this company name. Shareholders agreements for all investors will be in place detailing
% holdings, returns and exit options – all will be pro-rata. Exit options will be share sales to fellow
directors or property sales to repay % investment. So for example, if an investor owned 10% of the
company and wanted money re-paid for any reason, shares would be offered to other directors first
and if no sale was forthcoming, a proportion of the portfolio would be sold to repay the investor.

Generally we’ll encourage dividends to be re-invested if suitable investment opportunities arise.
Should any investors require the dividends they would of course be paid. Remaining investors would
acquire future properties in a newco.

Acquisition funds will be held in an ESCROW account prior to completion.

Freehold title will always be purchased and below you’ll see the tax regime.

Taxation generally;

Capital Gain (1) on the sale of property held for more than 12 months would be taxed at 15%. Net
rental income or gain from the sale of property owned less than 12 months would be taxed at
ordinary income tax rates for individual members of a company and at corporate income tax rates
for a traditional corporation. The number of properties won’t impact the rate of income tax but
there is

Real Estate Taxes (2) assessed against each property which is different from the tax on
income (profit) this is like rates in the UK.
For properties we’re considering the annual real estate tax will be from $1,500 to 3,500. This
expense is deductible from income and is factored into our net projections.

Tax base and rates

Corporate “Income” Tax (3) is not a tax on corporate income. It would be more accurate to call it a
corporate “profit” tax. Corporate “taxable income” is that which remains after most business
expenses have been deducted.

For regular income tax purposes, a system of graduated marginal tax rates is applied to “taxable
income.” For 2008, the marginal tax rate on a corporation’s taxable income was as follows:

The effect of the marginal rate structure outlined above is to average out the lower marginal rates
applied to the taxable income falling in the lower brackets, producing a flat tax rate of 35 percent on
a corporation’s entire taxable income once the corporation’s taxable income exceeds $18.33 million.

FAQ

Are these properties free from debts and liens/covenants?

Yes, all properties will have had any liens and debts cleared during our due diligence process.

Why are these levels of discount available?

The answer is public money. The banks can afford to write off mortgages of $70-$100,000 and more
which were typically held on these houses because billions of government money is being poured in
to their economy. In short, the American government is subsidising our investment

What is the impact of rising un-employment?

Job losses throughout America have been an increasing problem but as you can see above
substantial investment is planned For those that earn under the median income or who are
struggling financially, the government has put in place the Section 8 scheme. We are targeting good
locations that are located close to employment centres such as hospitals, the local universities etc
broadening our tenant pool.

What about Michigan Golf?

Few areas in the world have such a massive amount of quality golf as in northern Michigan.
Please check;

www.michigangolf.com

www.michigan.org/things-to-do/golf/default.aspx

Please go to our main page & see new photos being updated every day & to navigate our website for all our past projects.  For photos of this project hit the Walkford Loft for fresh images…

Many more projects coming very soon