Do we really need inventory, and if so, how much? How do we satisfy accountants that the level of inventory held is efficient and, at the same time, satisfy sales teams that the level of inventory held will meet customer service goals? […]
Do we really need inventory, and if so, how much? How do we satisfy accountants that the level of inventory held is efficient and, at the same time, satisfy sales teams that the level of inventory held will meet customer service goals? What levers will allow us to reduce inventory, but still meet customer service goals and working capital constraints?
These are questions that all businesses must answer. Too often inventory is dealt with “rules of thumb” that do not provide sufficient justification for inventory levels, do not guarantee that working capital is minimized, and do not have a clear correlation between inventory level and customer service. . Many companies talk about ‘days’ or ‘weeks’ supply, but what does that really mean in a supply chain where demand quantities, supply quantities and lead times vary from day to day or from day to day? week to week?
Do we really need inventory?
Inventory immobilizes working capital, costs money to store, costs money to manage, and can become damaged or obsolete. With the exception of work in progress, in an ideal world there would be no inventory in a company. Material would flow through the supply chain without stops or bottlenecks, and inbound supply rates would be synchronous with outbound supply rates. A perfect world, but not one in which many companies operate.
The reality is that for most businesses to keep running, they need to protect their supply. If they cannot supply when the customer wants, in the quantity he needs, the customer will go elsewhere. So how do you protect your supply? You can follow Japanese and take the Kaizen approach, simplifying and synchronizing every step in your supply chain. That’s great for an in-house production process, but in a real-world supply chain your suppliers and customers are unlikely to be inclined to sync their processes to fit yours. Consequently, the answer is that to protect supply, it is necessary to maintain an inventory.
Where should inventory be kept?
Now that we have established that inventory is a necessary and indeed critical item in many supply chains, the question is where should inventory be kept? To determine the location of inventory in a business, you must first establish the points in your supply chain where continuity of supply must be protected. There are several events in a supply chain that require inventory to protect supply, often referred to as “decoupling points.” A decoupling point is where the entry and exit rates do not match. They are more likely to occur between the supply of raw materials and the manufacturing process, and between the manufacturing process and the supply of finished products. Increasingly few companies can afford to have customers order finished products at exactly the same rate as raw materials are supplied and processed.
How much inventory should be kept?
Once you understand where inventory is required to protect supply, the next step is to understand how much inventory is required. This is where many companies fall. Inventory levels are often managed through suboptimization of other processes (ie optimal production batch quantities) or controlled by general rules (ie “4 week supply”). The consequence of this is often a lot of stock, but it is the wrong type and in the wrong quantity. Consequently, you continue to have customer service failures, the stock you have is not used, and can ultimately become obsolete.
There are two types of inventory that protect the supply cycle stock and the safety stock. Of course, there are other types of inventory such as goods in transit, work in progress, obsolete, etc., but all are the result of an activity and are not specifically maintained to protect supply.
Cycle stock is the level of inventory that is maintained to ensure that average customer demand can be met during the replenishment time. So if it takes 5 days to receive a restock, you need to make sure there is enough inventory to cover 5 days of average customer demand. As long as a business has accurate forecast or historical data for each product, this inventory item is relatively easy to calculate.
The safety stock is conceptually more difficult. The safety stock is in addition to the cycle stock, but the safety stock level is designed to cover the potential for customer demand to exceed the average. For example, if it took 5 days to replenish your inventory and the expected customer demand in units during those 5 days was as follows: (Day 1) = 5, (Day 2) = 3, (Day 3) = 5, (Day 4) = 4, (Day 5) = 6. The average demand in those 5 days would be 5 items. Multiplying those 5 items by 5 days will give you a cycle stock of 25 items. However, what happens if on the 6th the customer orders 7 items? The answer is that you will incur a stockout and will not be able to supply the customer. This is what the safety stock protects against.
Balance inventory levels with customer service goals
The safety stock is based on a calculation that assesses the probability that the customer will order more than the average. Using the normal or Gaussian distribution, the inventory manager can evaluate safety stock requirements based on the level of service a company wants to achieve. So if the business wants to achieve a 99% service level, the inventory manager creates a calculation that captures 99% of the eventualities outside of the average average demand. If the company is targeting a 95% service level, then the inventory manager can incorporate 95% into the calculation and consequently the safety stock will be lower. Of course, this now provides the total inventory level (cycle stock + safety stock) that is required to meet customer service requirements.
Balancing inventory levels with working capital targets
By performing these calculations, the inventory manager will have succeeded in matching the inventory level with the customer service requirements. However, it is not just the supply that needs to be protected, but also the cash constraints of the business. It is useless to calculate inventory levels that perfectly meet customer demands, if the company does not have the working capital available to invest in that inventory. This is where the inventory manager needs to match the best possible service with the limitations of working capital availability.
To give an example of the relationship between working capital and inventory, consider a company that sells a product worth 10 million euros (at cost) each year. The total income received from the sales of this product amounts to 15 million euros. If the company bought the product worth 10 million euros at the beginning of the year, by the end of the year it would have obtained a gross profit of 5 million euros with an investment of 10 million euros. However, if the company buys 50% (EUR 5 million) of the product at the beginning of the year, sells it and then buys the next 50% (EUR 5 million) with the sales revenue, then the profit will remain the same, but only 5 million euros are required as a total investment.
This is what the inventory manager should consider: how to meet customer requirements, but minimize the amount of investment required in inventory. This can be a difficult task that is often further complicated by the standard measurements that companies use. Accountants often dictate the maximum inventory levels that can be held on “stock rotations”; This is an accounting term that does not provide any indication of the type and location of the required physical inventory. The inventory manager’s task is to match calculated inventory requirements with working capital constraints as well as customer service goals.
Balancing inventory levels with working capital limitations and customer service goals is a science, not an art. The inventory manager must deal with hard facts and hard data. There are no magic ways to protect your supply: If you have decoupling points in your supply chain, but insufficient capital to invest in inventory, you will not be able to serve your customer. The business needs to calculate precisely what service it can afford.
To do this, the inventory manager needs to determine the calculated inventory cost. This will include the purchase price of the inventory (or manufacturing cost), plus the costs of maintaining the inventory, i.e., warehousing, equipment, IT, personnel, deterioration, insurance, etc. With this complete, the inventory manager now has the tools to clearly present to the business the balance between inventory levels, customer service, and costs. With a simple sensitivity analysis, all stakeholders can be shown how, if customer service wants x% service, then it will cost EUR y in working capital. Or conversely, if finance wants EUR and working capital, then customer service will have to be x%.
By taking this approach, the inventory manager will present the company with facts to make decisions about, not “rules of thumb.” They will have successfully balanced inventory levels with working capital limitations and customer service goals. They will have achieved the balancing act of inventory.
Small kitchen design ideas should be ways you can think of to save as much space as possible while having everything you need in the kitchen. As stated above, a small island in your small kitchen design can help save space when […]
Small kitchen design ideas should be ways you can think of to save as much space as possible while having everything you need in the kitchen. As stated above, a small island in your small kitchen design can help save space when it comes to storage for your pots and pans or utensils. If you don’t have the financial capacity to turn an island into your small kitchen design idea, you can use a mobile butcher cart. This is a good idea for food preparation or just to use as a buffet.
The cart is very nifty and can be easily stored by sliding it next to your sink. A small kitchen hutch is also a good idea, as it has removable parts like storage drawers and cutting boards. A small hutch also has glass doors on its top where you can store some dishes and fine china. An open plate rack can be incorporated or placed against the wall as a complement.
Kitchen tables can be placed in a small kitchen. If there is an island in the kitchen, you are already saving space. However, if you want a place in the kitchen to sit down to eat, you can set a table against the island. This will leave more floor space around the workspace and table together. Also, you can turn your island into a peninsula by adding it to the end of the sink counter space.
This will open up the middle of the floor for you and give you unrestricted access to the sink, range, and dishwasher. To preserve kitchen space and have a more spacious look, built-in cabinets are another kitchen design idea. Wall cabinets are easily accessible, but they don’t clutter or take up too much space. If you have cabinets that have space on top of them, small baskets can be used to store some of the loose items that are taking up counter space.
Lighting can play a big role in how your kitchen space can appear in size. A small kitchen does not need fluorescent lights, as they can depress a small kitchen. Any lighting that can be placed under wall cabinets will not make the room seem too bright or too small. Lighting should blend in with the colors and overall décor to give the room a good contrast.
Appliances should be next to each other when designing the kitchen. This increases your efficiency and prevents you from having to walk across the room to switch from one appliance to another. If you don’t need a large refrigerator, you can buy a smaller, deeper one to save more floor space. There are software design tools that can help you generate design ideas for your small kitchen and appliances. You can also get great IDEs at home improvement stores.
Auctions are set up so that people can bid a dollar amount for a given item and the person who bids the highest amount wins that item. There are several types of auctions including farm, farm, livestock, and even auto auctions. Many […]
Auctions are set up so that people can bid a dollar amount for a given item and the person who bids the highest amount wins that item. There are several types of auctions including farm, farm, livestock, and even auto auctions. Many people have the misconception that only car dealers can attend car auctions. This is very untrue, as there are thousands of auto auctions across the United States that are open to the public. Read the FAQs below to learn more about public auto auctions and how they work.
Where do auto auction vehicles come from?
Many auto auctions are known as government auctions, and vehicles come from a variety of sources. Some of the cars have been driven by federal, state, and local government employees. When these employees get a new vehicle to drive, the used cars are auctioned to the highest bidder. Law enforcement agencies often have to take possession of vehicles for searches and other reasons. If these cars are not returned to the owner, they are eventually sold at a government auction. Another source of many of the auction cars, trucks and SUVs is repossession. People who stop making their vehicle payments will be recovered by the credit institution that owns the vehicle. Many of these vehicles have hardly been driven and have low mileage.
Are Auto Auction Vehicles Reliable?
Cars and trucks that are sold to the highest bidder at auction are generally very reliable. Vehicles driven by government employees rarely have more than 40,000 actual miles. Since many of the repository cars are not very old, they are also a very reliable ride.
How does the auto auction process work?
When you first come to the auction, you can see all the vehicles in the lot. You won’t be able to take a test drive, but you can look under the hood and start the vehicle. You should also take this time to inspect the interior of the car and check its features. Make a note of each car you are interested in buying so that you can bid on it when the auctioneer puts it up for auction. If the auctioneer starts the vehicle at a price you can afford, you can bid on the vehicle. If no one bids against you, you will pay the initial price of the car. If others are also bidding on the vehicle, the price will increase in increments and you can keep bidding until the price is too high for your budget or until others stop bidding. When everyone leaves the bidding except you, your last bid will win the car.
A resume summary is a concise summary of who you are and the value you can bring to an organization. Today (2018), all strong resumes are expected to have resume summaries instead of the old-fashioned “Target.” The resume summary is essentially your […]
A resume summary is a concise summary of who you are and the value you can bring to an organization. Today (2018), all strong resumes are expected to have resume summaries instead of the old-fashioned “Target.” The resume summary is essentially your elevator pitch, which is a very short “commercial” of who you are and how you can benefit an organization.
What to include
First, be sure to include a resume summary immediately after your contact information. Excluding a résumé or just listing a few bullet points about your qualifications (or worse, listing an objective) will almost guarantee that your resume will get approved, unless you personally know the hiring manager. The resume summary is essentially a condensed version of the “Question about yourself.” When writing a summary, you should be sure to include relevant and specific information that shows who you are without being too generic. A great summary will include who you are, what you have done, what value you bring, and what your strengths are. Also, you should always include your resume title above the resume summary to make it clear who you are (i.e. sales professional, IT executive, project manager, etc.)
Keep it short
You may have been in an industry for more than 20 years and have done enough to fill more than 100 pages of text; however, your summary should not be longer than five or six sentences. TheLadders (2017) conducted a study and showed that the average recruiter spends 6 seconds going through a resume, so your resume summary needs to be concise and compelling. You need to quickly grab the attention of hiring managers and highlight your best selling points or unique value proposition. Avoid being redundant and including too many generic sentences that can be applied to anyone.
Three great resume summary examples:
Example No. 1: global vice president
Results-oriented global executive with a proven track record of successfully building and leading communications businesses in North America, Asia-Pacific, Europe, and Latin America. Experience in corporate trust and reputation, operational leadership, business development, strategic planning and operations optimization to significantly increase revenue and profitability. Prestigious commentator on corporate trust, crisis and corporate reputation issues for CNN, Bloomberg, CNBC, BBC and Channel News Asia, as well as providing information for print, commercial and other broadcast media on five continents. Presenter at the United Nations Global Compact Leaders Conference, the Clinton Global Initiative, the World Economic Forum Anti-Corruption Conference, the FSG Shared Value Conference, and countless industry and customer events.
Example No. # 2: Senior Sales Executive
Award-winning sales executive with vast experience in global sales / marketing and financial management. Experience in finding and retaining new business as a deal leader and providing the framework to complete KYC due diligence for specialized clients. Proven history of generating over $ 100 million in profit and reserves. Successful customer relationship manager who understands customer needs, manages expectations, builds lasting relationships, instills trust, and ensures delivery of integrated solutions. Very skilled working in the FinTech industry.
Example No. 3: technical director
Highly talented IT executive with a proven track record of designing, building and implementing multi-million dollar strategic, tactical and operational IT solutions that contribute significantly to organizational performance. Oversaw the construction of over 450 retail stores from a technology perspective including hardware, software, LAN / WAN, and telephony, as well as managing over 350 project lifecycles from inception to launch. Experience in leading teams effectively, instilling passion and developing people to achieve excellence. Great ability to communicate with both technical and non-technical audiences.
All three examples clearly exemplify who the candidate is, what the candidate has done, what value the candidate brings, and what the candidate’s strengths are in a concise and compelling way without unnecessary nonsense. Fluff is a resume summary that is filled with generic sentences like the following example:
Example No. # 4: generic fluff summary
Energetic and creative professional with cross-functional experience in operations. History of working well with all levels of leadership and developing effective relationships. Great ability to make immediate and valuable contributions to an organization. Flexible and open-minded with an outstanding ability to adapt to any situation. Excellent research, strategic thinking, communication and presentation skills.
Think of your resume summary as the only thing a hiring manager will read, because in many cases it can be. Your resume summary is your elevator pitch and it should include who you are, what you’ve done, what value you bring, and what your strengths are in a concise and compelling way. Remember to include your title above your summary to immediately identify who you are. You can use a generic “Career Summary” or “Qualifications” if you have a very diverse background and it is difficult to define who you are in a single title. Always remember to include a resume summary as candidates without one will surely be approved.
Remember how much fun hula hooping was when you were a kid. It didn’t matter if you were a boy or a girl, it was fun. I bet you never thought about how beneficial it was to your health at the time […]
Remember how much fun hula hooping was when you were a kid. It didn’t matter if you were a boy or a girl, it was fun. I bet you never thought about how beneficial it was to your health at the time while doing it. You were just playing. Try doing it now and see how well it does or how long it lasts. This was the challenge that one of my daughters gave me a while ago. I had no idea what to expect. Even as a healthy adult, he sucked … And he used to be good. I can bench 320 pounds but I can’t hula hoop more than 2 or 3 rotations. Shouted my story. It’s because I kept trying over and over again. And then I realized that a hula hoop provides an explosive core workout.
My challenge to all of you is for your kids to put down the remote or game controller for 30 minutes every day and challenge them with a hula hoop. Make it fun and exciting. Kids love a challenge, and so do you. Doing hoops regularly is a great way to narrow your waist lines and strengthen the core muscles on which all body movement is focused. The most dangerous fat in the body is the fat around the waist called visceral fat which is related to heart health. It is also the most difficult fat to remove as you age.
Hula hooping incorporates a lot of muscles, over 30, and burns huge amounts of calories the longer you do it. The more muscles you work and the longer the duration, the more calories you will burn. One of the most important muscles you will use is your heart. Within seconds of starting, your heart rate increases and that’s what burns the calories. Not to mention, it helps with endurance and muscle tone. And it’s all in the name of fun. Children have no idea that they are exercising. It’s almost like cheating.
The hoop not only helps the heart, but also the entire cardiovascular system, spine, hand-eye coordination, joints, and much more. It even helps to strengthen the facial muscles due to the huge smiles that are kept on the face for long periods of time.
Try this for fun. Basic hoop. It takes a bit of practice to get this done, but kids seem to get the hang of it very easily. Once they learn it, make it a challenge. We like to race against the clock between the two older girls. If there is only one child, then that is the perfect opportunity for you to be the opponent. Just keep the time from when they start until the hoop hits the ground and record that time. So the next opponent calls. The person with the most time wins !! You can even add prizes for them to win to up the ante. Whether it’s a HEALTHY snack, more TV time or whatever comes to mind. Just get creative and make it fun for them and for you.
You can also have them try some tricks like walking while doing the hoop. It sounds easy but it is very difficult and it will give you hours of laughs watching you do it. Funny !! You can even try moving the hoop up and down their body. Crazy skills are required. Get them to start with the waste and then move the hoop as high as they can, preferably up to the neck, with no hands. We parents do a great abs workout just by having a good laugh watching. Which, as a side note, is great for our hearts, laughing.
You can even have them spin a hoop on an arm while they keep spinning one on their waste. Or maybe one on each arm. Or have them stand on one leg and make a hoop. The possibilities are truly limitless. Just don’t make it impossible. They will surely laugh a lot and the children will get excellent exercise … And they may go to bed a few minutes earlier.
Belly fat is certainly annoying. As much as we wish we had sculpted abs like the models we see in magazines, that is not always the case. But did you know that you don’t need to go to an expensive gym or […]
Belly fat is certainly annoying. As much as we wish we had sculpted abs like the models we see in magazines, that is not always the case. But did you know that you don’t need to go to an expensive gym or buy equipment to lose belly fat and lose weight? There are different exercises that can accomplish these and most importantly; you can do this in the comfort of your home. So what are the best exercises to melt belly fat? Read and find.
Cardiovascular exercises are the best way to lose belly fat and lose weight. An example is an aerobic exercise video, such as Hip Hop Abs, which combines proper breathing, a fun dance workout, and an effective abs workout. For starters, you only need about 30 minutes a day and if you want to lose weight faster, you can make other videos that focus on losing belly fat.
Squats, crunches, and crunches are classic exercises that work best not only for losing belly fat, but also for toning your glutes and legs. Squats, for example, use a lot of leg and tummy muscles, and depending on how long and how much you bend over, they help you melt belly fat and tone your glutes and legs.
Another form of exercise that you can do in the comfort of your home is belly dancing. There are belly dance exercise videos that you can do for a minimum of 30 minutes per day. This form of exercise is fun. It also targets the belly area. Lastly, yoga and Pilates can also be done at home. Both promote proper breathing, posture, weight loss, and improved overall health.
Many UK universities offer MBA scholarships. The amount provided will vary. So will the selection criteria. In this article, you will find 8 different scholarship options. Four of these are offered by the University of Birmingham. The remaining four are provided by […]
Many UK universities offer MBA scholarships. The amount provided will vary. So will the selection criteria. In this article, you will find 8 different scholarship options. Four of these are offered by the University of Birmingham. The remaining four are provided by the University of Manchester. Here are brief descriptions of these awards:
University of Birmingham
International Business Scholarship
This scholarship for MBA is for national and international students. One of the selection criteria is that you have worked in a managerial capacity in 2 countries other than your home country. Your academic ability is another criterion. The aid provided is £ 5,000 on average. The last application date has passed. But you can keep this award in mind for the future. May be available next time. The application deadline was April 11, 2014. For more information, visit the link below.
MBA Scholarship in Global Banking and Finance
National and international students can apply for this scholarship in the UK. A requirement for the award is work experience in the financial or banking sectors. The international angle of experience is what they are looking for. Your academic ability will also be considered. The average amount provided is £ 5,000. Use the link in option # 1 for more information.
Rosgen Family Scholarship
This option is available to students from Central and South America. You have to demonstrate financial need to obtain this scholarship. The amount awarded is £ 5,000. The deadline was April 11, 2014. Learn more about this option using the link provided in option # 1.
Africa MBA Scholarship
This option is also based on financial needs. It is for students from Africa. It is a full fee award. For 2014/15 the fee was £ 20,790. There are other requirements as well. Get more details from the link in the first option.
For more information on these four options, see birmingham.ac.uk/schools/business/mba/fees-and-funding/scholarships.aspx
Students seeking MBA scholarships will be delighted to know that the University’s Manchester Business School offers such awards to 25 students in each MBA student class. Here are brief descriptions of some of the options available at this school:
Manchester Merit Scholarships
The best students are awarded through this program. You must have a GMAT score of at least 600. An equivalent GRE score is also accepted. The money provided is in the range of £ 5,000 to £ 20,000.
Scholarships for women in business
You will be considered for this award based on the following: your academic performance, leadership ability, and personal and professional achievements. The prize ranges from £ 5,000 to £ 20,000.
Manchester Excellence Scholarships
Permanent residents of the EU and EEA receive awards under this program. You can get a full prize worth £ 38,800. Plus you can get others up to £ 20,000.
Scholarships for Potential Young Leaders
Students considered the best during Young Potential Leaders admission will get this scholarship in the UK. The amount awarded is £ 25,000.
For more information on the opportunities available at the University of Manchester, visit mbs.ac.uk/mba/full-time/fees-financing/scholarships.aspx
If you are looking to study in the UK, it may help to find ways that you can cut costs. MBA students have many financial aid options available in the UK. By following the links provided above, you can find out if you qualify for the scholarship. The UK is a popular destination for students, so you may have competition for attendance.
“However, noble descendant of a fierce fighting father, you are playing tonight with my son by the fire.” (Excerpt from Hound of the Heroes by William Dammarell) One is not so much “owned” by an Irish Wolfhound, as being “owned by” an […]
“However, noble descendant of a fierce fighting father, you are playing tonight with my son by the fire.”
(Excerpt from Hound of the Heroes by William Dammarell)
One is not so much “owned” by an Irish Wolfhound, as being “owned by” an Irish Wolfhound. I am currently “owned” by two, and would not otherwise. They are typical of their breed and are an inexhaustible source of fun and joy. Once you are “possessed” by a Wolfhound, you have been touched by a special magic and you will never be the same again. But be careful! They are addictive! You can’t just stop at one!
I’m an owner, not a breeder – the idea crossed my mind, but I had to be honest – I would be a lousy breeder – I could never give away any of my “grandparent puppies”! Not for any amount of money!
I will give you a dog that is kept in Ireland. It is huge in members and for a follower equal to a man. Also, he has the wit of a man and will bark at your enemies but never at your friends. the face of each one, whether they have bad will or good disposition towards you. He will give his life for you. “(The Icelandic Saga of Njal; 970-1014 AD)
Now I am an experienced Irish Wolfhound “mummy”. A great deal of time and money has been invested in my “education”, but now my furry children have trained me well. I do not claim to be an expert on Irish Wolfhounds and all I want to do is share in the wonder that owning one of these magnificent animals is. You can laugh with me or laugh at me … nothing disturbs Irish Wolfhound owners … we are well trained you see!
If you are one of a hundred who has ever stopped me on the street to drool over one of my dogs and asks me “where can I get one?”, You may want to consider what you would get. itself got one. So let me start at the beginning …
So you want to adopt an Irish wolfhound!
Years ago when my husband and I first saw “Chewbacca” (the “Wookie” who traveled the universe with a young Harrison Ford in Star Wars), we looked at each other and said, “I want one of those!” Unfortunately, the Wookiee were a mythical creature and, as far as we know, no one breeds them here on earth.
Then one day we came across a photo of an Irish Wolfhound, standing with his face to the wind. The resemblance was uncanny. “There is our Wookiee!” We cried at the same time, and without any preparation, we quickly decided to adopt one. Ah, those were our innocent days!
Irish wolfhounds are noble animals; gentle giants, whose basic nature is that of a typical “couch potato.” They love their comfort as much as you do. They are the perfect “babysitters” for your children and have the patience of a saint. However, owning such a large dog comes with many responsibilities, as well as immense pleasures, as we will soon discover.
First there was the added expense of having to swap out our beloved Mercedes for a large four-wheel-drive pickup, to accommodate the dogs. Then came the sofa repairs, although since there is no more space on the sofa for us, I just cover the torn areas with a blanket and hope for the best. The fence has had to be reinforced, and I have lost count of the number of times my husband has replaced the wire in our screen doors. Our once soft suburban lawn (well it used to be a lawn, not sure what I would call it now), looks decidedly rustic. It actually looks like a horse paddock. As for my carpet and walls, well, let’s not go there, but please don’t be offended if I never invite you to my place.
I love my gentle giants, and what if they almost ruined the garden, the carpet, the walls, the couch, and almost ruined us with food and vet bills, I couldn’t imagine life without them. They have many wonderful qualities that allow me to feel that way. They share all aspects of our lives and they like nothing more than helping “mother” in the home office and “father” in the garden. In fact, our two Irish Wolfhounds have been very hardworking this summer, helping Dad with the yard renovations. I think they are trying to build a pool on one side of the house. It must annoy them when the parent keeps filling it up again. They also play very well with our daughter. In particular, they like to sneak into your room at night and select a toy to play outside. They never destroy toys. I always find them in perfect condition, although a little wet and gross from the experience.
Our initiation into Wolfhound parenting began with the adoption of Wookie, a gray male. (What else did you expect us to call it?) Our daughter was about two years old, so we felt like we had two babies to take care of. Wookie was a true clown, and to describe him as clumsy would be to put it mildly. When Wookie was only six months old, we realized that sharing our little home with him was going to be a challenge. Wookie’s queue could clear a table in one move, and leaving food on the kitchen bench was causing trouble. Unlike other dogs, who can only smell the delicious leftovers in the sink and dream about them, werewolves can see and reach for them.
Shortly after Wookie’s arrival, we find ourselves adopting a “rescue” dog. (Sadly, some people don’t research the requirements of owning one of this breed and then realize that they should have bought the miniature poodle instead.) Measuring approximately 90 cm (almost 35 inches) tall at the shoulder and weighing 78 kilos, it was and is a sight to behold. We estimated her age to be around three years old and decided to celebrate her “birthday” with chocolate cake every Saint Patrick’s day. Wookie fell in love with her immediately, and although Guinny, as we decided to call her, found it a bit complicated at times, she developed a fondness for him and the two became firm friends.
We found that Guinny loves a good cup of coffee. Not the simple black things. She likes hers white with two sugars, and no, of course we don’t give our dog coffee! It is not necessary. She helps herself. I always know it’s been in my coffee from the telltale spills around the mug, or if I miss that (sometimes she cleans up after herself to hide the evidence), I know it’s been there from the strange taste the mug left.
Irish Wolfhounds are warm and loving with a sensitive and gentle nature. I don’t know if I would recommend them as watchdogs, although owners can be sure that if attacked, their Wolfhounds will defend themselves to the death. The size of these animals, combined with their deep, impressive barks, is probably enough to scare off most would-be thieves, but I don’t know if that would work in my home. I can only see it now. There they would be, standing by the fence, each with their favorite toy held firmly in their powerful jaws. My two brave defenders of home and home … “Don’t come here or my little bear will catch you!”
Having an Irish Wolfhound is an honor. Being accepted and loved by someone in return is truly a gift from God. My own furry children are an inexhaustible source of fun and company, and I haven’t even begun to scratch the surface of my experience. (Speaking of scratching … is that a flea?)
It is fashionable, and for good reason. I remember doing my first BRRRR strategy in 2004. I bought a house in Arvada, Colorado, with a lot of money to fix and renovate. You wouldn’t believe it; the flip was a flop and […]
It is fashionable, and for good reason. I remember doing my first BRRRR strategy in 2004. I bought a house in Arvada, Colorado, with a lot of money to fix and renovate. You wouldn’t believe it; the flip was a flop and i ended up with a problem. I was over budget and was forced to cut back on my rehab. Like way back. I no longer had confidence in the sale price and decided that I would keep that as a rental. It was a nice big house in a desirable area, and I had a rent-to-own tenant in no time. Now to the problem. That damn hard money loan. Fortunately, this was when I was still able to report my income, and since I had good credit, I was approved. I kept that house for over 10 years!
Little did I know at the time, but I just fell for the BRRRR strategy. I bought a property, rehabbed it, rented it, refinanced it, and then repeated the process. I bought that house with no down payment and received option money and positive cash flow. The term BRRRR had yet to be coined, but he knew he was onto something.
The entire Pine Financial team talks about this strategy for a few reasons. First, we can help with the loan to make it, but it also works very well. This is one of the best strategies when it comes to buying a property with little or no down payment. Do you want more information about this strategy? I wrote a FREE report here. (Look down)
Although this is one of my favorite buying strategies, it is not risk free. Here are three risks when using the BRRRR strategy:
Different view on value: Outside of all the typical risks of owning a rental, BRRRR’s risks come down to your ability to refinance private money or hard money loan. The easiest way to stumble upon that is if your refinance appraisal is low. In my world, we get an appraisal up front with the appraiser’s opinion of what the property is worth after repairs. Also known as ARV or after repaired value. The key word here is opinion. It is quite possible that another appraiser has a different opinion. This is even more likely if you only do minor repairs. It can be very difficult for an appraiser to understand a large increase in value in a short period of time. Major repairs help with this. Even though you are only rehabbing for rent, you still want to show that you did improve the property to justify the value.
The good news about appraisal when you refinance is that you should let the appraiser in the home. This means that you can meet him or her at the property. I highly recommend that you do so and that you bring your hard money loan appraisal, lists of repairs performed, and any up-to-date compensation to support its value. With these documents, we have seen fantastic results, but you must understand that this is always a risk. If the appraisal is low, you may have to cover the difference out of pocket or, in the worst case, sell.
The initial loan was made incorrectly – I haven’t seen this, but all of our preferred lenders have told me this is common. If you’re dealing with someone who doesn’t understand this strategy, it could ruin your initial loan and make it difficult for you to refinance. Some common mistakes are:
What’s It Titled: The best loan right now to refinance is a Fannie Mae loan. They have fantastic 30 year fixed rates and no season titles. Title seasoning just means how long you must be on the title or own the home before you can refinance it. Many banks or lenders have title seasoning guidelines. Fannie Mae doesn’t. What they do have, however, is a guideline for not lending to an entity. This means that they want you to be the owner of the house personally. It might be possible to stop claiming your entity’s home deed in your personal name, but the loan process is much easier if you purchase in your personal name. Once your loan is in place, it might be a good idea to stop claiming the property in your entity at that time.
Sweepstakes – I have heard that some lenders do not hold construction money. When a lender does this, they will get the full loan amount at closing. If the lender loaned money for repairs but did not include it correctly at closing, it will appear that you received a cash refund and the refinancing lender will not make the loan. These are rate and term refinance loans, which means that they will only refinance the debt that was used to purchase the property. If they pay off a loan that was used to put cash in your pocket, it is considered a cash refinance and you will not qualify.
Link: It sounds simple, but the link that the lender places in the title is very important. The biggest problem is that they actually place a lien. This should appear in the title search and be disclosed in the closing disclosure, making it clear that your refinance loan is being used to pay off the purchase money debt. The lien must also match the amount on the settlement statement, and it is best not to modify that loan or increase it in any way after purchasing the home. Either of these could create a problem separating a rate and term refinance from a cash-out refinance.
Tight DTI: In 2004 I had a problem with DTI. Debt to income. I was making money, but a lot of that money was not showing up on my taxes. These could be non-refundable deposits that would be reported at a later date, money from the Army to pay for some of my expenses while I was in college, or amortizing or depreciating assets. I also had some roommates who helped me with my bills. If you look at my tax returns and mortgage payments, I would not qualify for the loan. I only qualified because declared income loans were allowed. Since we no longer have established loans, we must be very careful here.
For Pine Financial, we require our client to be pre-approved for refinancing before loaning them money IF they plan to refinance. That’s not a requirement for flippers, but we want to help our clients succeed, that’s why we pay attention to this little detail. Once approved, it would be a good idea to do a stress test. What if the rent is $ 100 less per month than you project? What about $ 200?
I hope I did not scare you. The point is not that, it is to stay safe. If you haven’t experienced the BRRRR strategy, it’s hard to understand the power behind it. If I had to give advice, it would be to explore this, but also to understand the risks involved. As a strong money lender, we’ve been involved in several hundred of these specific transactions and we’re happy to help guide you if you need a little help.
The laptop screen hinges are one of the most delicate parts (besides the LCD screen) of your MacBook. Older MacBook Pro systems are especially vulnerable to hinge damage due to the very thin aluminum that surrounds the LCD screen to keep it […]
The laptop screen hinges are one of the most delicate parts (besides the LCD screen) of your MacBook. Older MacBook Pro systems are especially vulnerable to hinge damage due to the very thin aluminum that surrounds the LCD screen to keep it in place. First, let’s discuss some ways to prevent your hinges from getting damaged in the first place.
Rule number one:
ALWAYS use both hands when opening the screen. If you obey this simple rule, the display hinges and display bracket assembly will last much longer. It sounds so simple, and yes, we forget about this important rule all the time, but when you grab your laptop and open the screen with one hand, you’re flexing the screen in a way that it shouldn’t be. Place your hands on both sides of the screen and slowly open them. It is easy. Just breathe in and relax before opening the lid. If you have an older MacBook, make sure the latch on the front is released BEFORE attempting to open the display. It’s very easy to bend the display case, or worse, break the screen on your MacBook Pro.
Rule number two:
Keep your laptop away from the edge! The edge of the table, the edge of your car seat, the edge of your desk … you get the picture. It’s just another simple rule that can save you hundreds of dollars on repairs or parts replacement. Most screen hinge and frame damage is caused by drops, much of which could have been prevented if we simply kept our MacBook Pro away from the edge of whatever we put it on.
Rule number three:
If your MacBook Pro is “parked” most of the time, you can probably skip this one, but, if you carry your laptop around a lot, get a “sleeve” made of silicone, leather, or other material that will help keep your MacBook Pro safe. don’t let it slip through your fingers. Yeah, like we’ve never dropped our laptop before. Trust us. You want a sleeve.
Rule number four:
Get yourself a good carrying case, one with a decent suspension. And no, we are not talking about your car’s suspension. Get a case with a back that has a suspended inner section for your MacBook Pro if possible. This will prevent your laptop from coming into contact with the ground, as we know you like to toss your bag at the end of the day.
Okay, you followed all these rules and it still happened – your MacBook Pro screen is bent or misaligned with the rest of the computer. Or maybe you can’t even open the screen.
First thing … STOP – don’t go ahead, don’t try to open the screen. There are all kinds of wonderful cables found around the hinge assembly of your MacBook Pro. These delicate cables can break easily, adding to the cost of the repair you are going to perform so that you can use your MacBook Pro again. Go borrow someone else’s computer from Google for a Mac laptop repair service. In other words, don’t risk opening the screen and doing more damage.
When scheduling your laptop repair service, you should be sure to ask these questions:
Do you use Apple Certified Repair Technicians? (YES)
How long warranty do you offer? (AT LEAST 1 YEAR)
Do you offer free shipping for repairs? (YES)
How long will the repair take? (24 HOURS)
Are you working in your garage? (NO)
Do you offer free customer support where I can speak to a human being? (YES)
We hope these tips help you keep your MacBook Pro running safely and solidly. If you end up with a bad hinge or screen that needs replacement, you will at least know a few important questions to ask when scheduling your repair.