Buy Property

MONEY Magazine: Buying property with family or friends - Oct. 21, 2005 Web CNN/Money Home News Markets Technology Commentary Personal Finance Autos Real Estate Real Estate SAVE | EMAIL | PRINT | SUBSCRIBE TO MONEY | Buying property with family or friends Is it a blessing or a curse? The right due diligence makes all the difference. October 21, 2005: 4:10 PM EDT By Gerri Willis , MONEY Magazine Top things to know Are you ready? Lining up cash Picking a team The hunt Closing the deal For sellers only NEW YORK (MONEY Magazine) - John D. Rockefeller once said that "a friendship founded on business...is a good deal better than a business founded on friendship." He might have added: "Except in real estate." That's because some of the most successful real estate companies have started as alliances of friends and family. Orange County, Calif. megadeveloper the Irvine Company was created in the 19th century by James Irvine and his son. Donald Trump's dad Fred taught his Apprentice plenty about the family biz. Chicago real estate guru Sam Zell credits much of his success to his longtime partnership with his college pal, the late Robert Lurie. (Old John D.'s spawn didn't fare too badly either with a family venture in the 1930s called Rockefeller Center.) To be sure, if you're just starting a real estate project, you'll find it difficult to resist the temptation to bring in friends and family as partners and investors. After all, those are the people you know and probably trust the most. But how do you avoid the seemingly inevitable "Dallas"-style dramas? 1. Trust but verify Even if she's your sister or cousin, you should investigate a would-be partner's finances before doing business with her. Handy Web sites like Intelius.com and Public-records-now.com can help you unearth basic background info like tax liens or bankruptcy filings. Ask her to share a copy of her latest credit report. Talk to her former business associates. To avoid ill will, tell her from the get-go that you'll be prying -- and invite her to do the same with your background. If she balks, calmly explain that such precautions will only make for a stronger team, suggests Nicole McAllister of the University of Southern California's Lusk Center for Real Estate. "Remember, this is business." 2. Share a vision It's critical that you and your partners agree to common goals before you buy. Will you renovate that apartment house to a level that would make a Hyatt Regency manager blush? Or do you want to rent the property "as is"? Is the goal long-term cash flow or cashing out quickly? Many partnerships founder on these simple points. 3. Get it in writing Lawyers and their contracts can't prevent every calamity, but a written agreement -- think of it as a prenup before your partnership marriage -- can prevent headaches (and heartaches) for you and the family or friends who invest with you. At the very least, an operating agreement will force you to plan for the unexpected, including death, divorce or a change of mind. You must also spell out exactly what happens if one of your partners wants to sell. Establishing a contingency plan "gets everything on the table," says Philip Davis, a C.P.A. and principal at accounting firm Kauffman & Davis in Boston. "It's like going to a therapist." 4. Hire strangers Unbiased advice is essential for all involved. Brooklyn real estate broker Tammy Shaw knows plenty about the business, but she says she'd never have bought her brownstone with family without professionals at her side. "Build a team ahead of time -- an attorney, mortgage broker or banker, and contractor," she suggests. "They have to be people all of you feel comfortable with." 5. Be an open book Garry Klein, co-founder of real estate fund Highpoint Equities in Scarsdale, N.Y., knows both the hazards and huzzahs of working with friends and family. He started buying real estate nearly a decade ago with his buddy Jeff Gault; family members have been a big source of capital ever since. "The upside is that these people know you and know what you're about; they cut you more slack," he says. "The downside is these are people you're going to see at Thanksgiving dinner." Klein shares thorough, detailed investment results every six months. Ultimately, success depends on your own ability to find good deals and execute. Friends and family can make a newcomer feel more comfortable, but you'll need to adopt professional practices for your effort to really pay off. ____________________ Gerri Willis is host of CNN's Open House. Write her at real_assets@moneymail.com . For more articles on Real Estate, subscribe to MONEY Magazine . The Hot List Most profitable renovations How risky is your 401(k)? Big new tax credits for hybrid cars More Real Estate How to buy and build on rural land Most overvalued housing markets When booms go bust... contact us | magazine customer service | site map | glossary | RSS | press room OTHER NEWS: CNN | SI | Fortune | Business2.0 = Money subscribers = Premium content -- * - Time reflects local markets trading time. † - Intraday data is at least 15-minutes delayed. Disclaimer © 2005 Cable News Network LP, LLLP. A Time Warner Company ALL RIGHTS RESERVED. Terms under which this service is provided to you. privacy policy Reprints of site stories are available. Top Stories Most overvalued housing markets Risks to the economy in 2006 Which was the worst ad of all in 2005? After the ride, a rest Hilton brands reunite after 40 years YOUR E-MAIL ALERTS Follow the news that matters to you. Create your own alert to be notified on topics you're interested in. Or, visit Popular Alerts for suggestions. Manage alerts | What is this?

Real Estate Broker Requirements

TREC - Broker Application Information -- Licensee Info Search Quick Links -- To Popular Pages -- Licensee Info Search R. E. Contract Forms Renew or Apply Online Salesperson Application Real Estate License Forms Education Providers Core R.E. Course List Freq. Asked Questions Real Estate License Act TREC Rules Data File Downloads License Information Licensing Main Page MCE Requirements FAQs Timeshare Registration Residential Service Company Program Licensed Residential Service Companies Fee Schedule Applications, Requirements Applications & Other License Forms Real Estate Salesperson Requirements Real Estate Broker Requirements R.E. Broker (Corporation & LLC) Requirements Candidate Info. Brochure Reciprocity Information Inspector Applications Renew Your License Renewing a Salesperson License Renewing a Broker License Online Renewal (Brokers, 2yr Salespersons) Duplicate of License Renewal Notice Inspector Renewals KEY To Symbols =Page is in area (folder tab) of this color = Adobe PDF file format = Web site external to TREC Applying to Become a Real Estate Broker (Please Read All Information Carefully) To be eligible to apply for a real estate Broker License, an individual must be a citizen of the United States or a lawfully admitted alien, eighteen (18) years of age or older and a legal resident of Texas. If the applicant is a resident of another state, the applicant must be licensed by that state as a real estate broker. To be eligible to apply for a real estate Broker License, an individual must furnish the Commission satisfactory evidence of successfully completing the following: Not less than two (2) years active experience in Texas as a licensed real estate salesperson or broker during the 96 month period immediately preceding the filing of the application; or If licensed as a broker in another state, not less than two (2) years active experience as a licensed real estate salesperson or broker during the 36 month period immediately preceding the filing of the application. 270 classroom hours of core real estate courses . An additional 630 classroom hours in related courses acceptable to the Commission. Evidence of successful course completion shall be presented via credit transcript or certificate accompanying an application. DO NOT submit original transcripts and/or course completion certificates. Keep the originals for your personal files and send photocopies to the Commission. To be eligible to apply for a real estate Broker License you must first obtain a letter from the Commission attesting to satisfaction of all education requirements. THE EVALUATION OF EDUCATION DOCUMENTS MUST BE PERFORMED BEFORE THE APPLICATION CAN BE FILED. To obtain an evaluation of your education documents submit the form, Request for Evaluation of Education Documents . A fee of $20 is required for the evaluation of education documents for the purpose of determining if education requirements have been satisfied. This fee is good for one year. Please submit copies of your transcripts or course certificates with your request for evaluation. DO NOT submit original documents. The following required fees must be submitted at the time of filing an application. AN APPLICATION RECEIVED WITHOUT THE APPROPRIATE FEES WILL BE REJECTED AND RETURNED. The following fees should be submitted in ONE CHECK OR MONEY ORDER payable to the Texas Real Estate Commission. ALL FEES LISTED BELOW ARE NONREFUNDABLE. Fees Required with Real Estate Broker License Application Fee Amount Comment Original Application $300 Required for all applicants Recovery Trust Account (formerly Recovery Fund) $10 Required for all applicants unlesspreviously paid License examinations are administered by PSI, a testing service company. Once your application has been received, processed and accepted, you will receive notification that you may obtain a copy of the Candidate Information Brochure (CIB) to register for the exam. The CIB will provide instructions on how to make reservations to take the examination and contains study material and instructions about licensing. A copy of the CIB can be downloaded from the PSI web site at http://www.psiexams.com . Please DO NOT attempt to register for the exam without first receiving notification from our office. The filing of an application authorizes an investigation of the applicant's background. Information revealed in an investigation may be cause for disapproval of an application even though other requirements for a license are met. If an investigation is necessary, it may not be conducted until the applicant has passed the examination. State law prohibits issuing more than one license after a licensee has defaulted on astudent loan guaranteed by the Texas Guaranteed Student Loan Corporation (TGSLC) unless the licensee has entered into a repayment agreement with TGSLC. YOU SHOULD CONTACT TGSLC BEFORE FILING THIS APPLICATION if you have defaulted on a student loan. An application or renewal may be rejected if this agency has received information from TGSLC that the applicant has defaulted on a student loan. The Texas Guaranteed Student Loan Corporation can be contacted at: Texas Guaranteed Student Loan Corporation P.O. Box 15996 Austin, Texas 78761-5996 Telephone: 1-800-222-6297 The time involved in processing an application depends on work volume. Inquiry as to the status of an application delays processing work. Inquiry should not be made unless there isreason to believe that information submitted to the Commission has not been received. An incomplete application will not be returned for completion. A letter will be mailed requesting the incomplete information. The examination must be passed within six months from the date the application is filed with the commission office. You are not authorized to perform any act for which a real estate license is required until an ACTIVE Texas Real Estate Commission license is in your possession. Submit Documents And Applications On Plain Paper. Do Not Send "Thermal" Type Paper. Page last modified: 11/21/2005 Site Map Privacy & Security Policy Open Records Accessibility Texas Online Statewide Search TX Homeland Security

Home Loan Bank of

Federal Home Loan Bank of Dallas W e are a cooperatively owned wholesale bank that supports housing and economic development in the communities served by our member institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Our credit products and other financial services help members deliver financial products to fund housing, small business, rural development and agriculture. Specialized community investment and affordable housing loan and grant programs help finance community redevelopment and expand affordable housing opportunities. Members include commercial banks, savings institutions, credit unions and insurance companies. In The News • Community Investment Program Update • Bulletin 2005-14 Dividend for Fourth Quarter 2005 • Disaster Relief Advances for Texas Counties Affected By Fire • Advisory Council Appointments • Disaster Relief Grant Program • Disaster Relief Advances Available for Louisiana, New Mexico, Mississippi and Texas Quick Links • Investor Relations • Guides & Forms Send comments, questions, and suggestions to fhlb@fhlb.com . © 2005 Federal Home Loan Bank of Dallas. All Rights Reserved. FHLB Dallas website information disclaimer . The material on this site is for informational purposes only. By moving to the next screen, all viewers acknowledge that the presentation of this material (i) does not represent investment advice, (ii) does not constitute an offer to extend credit, a grant or subsidy, and (iii) does not constitute investment solicitation or an offer to buy securities. It is the sole responsibility of the user to check the accuracy of assumptions or other information contained on this site. VIEW FEDERAL HOME LOAN BANK OF DALLAS - World Wide Web (www.fhlb.com) PRIVACY and SECURITY DOCTRINE

Texas Land & Cattle

Texas Land & Cattle Steak House - Austin, TX, 78717 - Citysearch 7 BOC Spa & Beauty: 7 days till voting begins -- New to Citysearch? Sign In · Help · Dec 29 2005 Home Restaurants Bars & Clubs Hotels Shopping Spa & Beauty Movies Events See More Categories » Search Business name, category, and/or keyword Search restaurants only Search by name only Address, city & state, or zip | Neighborhood Address, city & state, or zip | Neighborhood Address, city & state, or zip | Airport Address, city & state, or zip | Attraction Select a Austin Neighborhood Arboretum Bergstrom Airport Buda CedarPk/Leander Downtown Austin East Austin Georgetown Hill Country Hyde Park Lake Travis North Austin Northeast Austin Northwest Hills Oak Hill Round Rock/Pflugerville San Marcos South Austin Southeast Austin Tarrytown Travis Heights University of Texas - Austin West Austin West Lake Hills Select an Austin Airport Select an Austin Attraction My Locations Add/edit locations Recent Locations Clear recent locations Save to My Citysearch Printer Friendly Version Home · Restaurant · Profile Texas Land & Cattle Steak House 14010 N Hwy 183 Austin, TX 78717 (512) 258-3733 Cross Street: Lakeline Mall Drive Editorial Profile A Southwestern chain serving tender steaks in a bustling, family-style eatery. Read More | User Reviews (2) 9.2 Overall Recommended About our ratings Ratings feedback Send to a Friend Find a date Evite your Friends Restaurant Info Cuisines: · American (Traditional), Steakhouse Price: · $$ Payment: · American Express · Discover · MasterCard · Visa New! Mobile Biz Center Book a flight , get biz news , or locate WiFi hot spots . Learn More Own this business? » Enhance or edit your listing See something wrong? » Suggest a correction Things to do nearby: 14010 N Hwy 183 Austin, TX 78717 · Restaurants · Hotels · Bars · Movie Theaters · Department Stores · Shopping Centers & Malls · Grocery Stores · Pharmacies · Florists · Banks Related Searches · Austin Restaurants · Austin American (Traditional) Restaurants · Search anything in Austin · Search Yellow Pages in Austin · Search other Cities · Browse Austin Editorial Lists Citysearch Editorial Profile -- By Tara Fatemi Quick Results in Austin, TX Search Results 1 - 3 of for " " No results for " " found. Close this window Overall Offers and Discounts Overall Offers and Discounts Overall Offers and Discounts View all results A Southwestern chain serving tender steaks in a bustling, family-style eatery. Editorial Rating: Recommended The Scene Dark wood accents, a Western motif and a large fireplace decorate the bustling, sprawling restaurant. Decibel levels manage to remain quiet enough for conversation. Service can be inconsistent, despite a large staff. The Food Texas onion strings features tangy and spicy pale-pink dipping sauce combining liquid smoke, mayonnaise and barbecue sauce. The average smoked sirloin nachos are served with generous amounts of refreshing pico de gallo and jalapenos. The succulent signature pepper-smoked sirloin lives up to its reputation with its well-absorbed flavor. A side of chili, however, is tasteless and lukewarm while under-cooked, bitter spinach is smothered in butter. Two 8-ounce, mesquite-grilled pork chops are spicy-sweet with a peach glaze coating the tender meat exquisitely. The accompanying sweet mashed potatoes are delightfully creamy. Jack Daniels pie is strong, chunky and topped with vanilla ice cream. Editorial content is independent of paid advertisers. Any expenses are paid for by Citysearch. User Reviews What users are saying Prompt seating: yes Make reservations: no Romantic: no Good for kids: yes Good for groups: yes Write a review and share your thoughts with other users. Great Food that won't break the budget Posted by leafsfan2028 on 05/24/2005 I have visited this location several times and can't wait to go back. If you like steak, order the rib eye. It is outstanding. I made the mistake of changing gears last time I was there and went with the t-bone, whihc was good, but the rib eye is out of this world. Service has always been favorable. Overall user rating: Highly Recommended Was this review helpful: Yes or No | Request removal of this review » Read all 2 reviews Related Editorial Content Dog-Friendly Austin We've sniffed out the city's best spots for a full day of doggie nirvana. So grab a leash and lap up the fun. Downtown Walking Tour The must-dos of downtown. Campus Living Check out what the kids are up to these days in the shadow of the University of Texas at these cool campus area bars and shops . 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Buy House

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