The Brothers Bloom
General Contractors Bringing you the Best Tips for Construction, Home Ownership, Investing and More

Year: 2019

How to Find the Best Candidates without the Stress of Searching

When you are running a hospitality business like a hotel, resort, or casino, your staff is the lifeblood of your company. They are the ones that interact with your customers and ensure the customers come back again and again. The staff will either make your bu

When you are running a hospitality business like a hotel, resort, or casino, your staff is the lifeblood of your company. They are the ones that interact with your customers and ensure the customers come back again and again. The staff will either make your business the most successful it can be, or they will ensure customers never come back.

While employees are always crucial to a business, hospitality businesses are unique in that they are entirely dependent on the personalities, proficiency, and hospitality of their entire staff. From the cooks in the kitchen to the maids that clean the rooms and everyone in between, the whole team must be focused on ensuring the customers have the most enjoyable experience.

Even if you have the best staff in the business if you do not have enough people, the quality of your establishment will suffer. The small details will start to get overlooked as the staff is entirely focused on the central portions of their job. For example, if you do not have enough on your cleaning service, the employees you do have may rush through each room to get to every room before the next round of check-ins. While having rooms ready by anticipated check-in times is essential, so is having a perfectly clean room.

Maintaining a large staff that is thoroughly trained and upholding the standards of the facility can be a difficult job for even the most proficient business owners. Fortunately, as a business owner, there are steps you can take to ensure you always have the staff you need to thrive within the hospitality industry.

The first step is to search for hospitality staffing agencies near me to find an agency like A Plus Staffing Solutions that can meet all of your staffing needs. They can set you up with pre-screened and selective employees that are ready to get started and eager to work.

You can use an online service like Golookup to get background information on the selected candidates to ensure they are the quality you are looking to employ. Verifying the work of companies you contract with will give you the confidence needed to step back and let them do what they are most skilled in doing.

Anytime you outsource a service; you may have reservations about a third party doing the job as well as you feel you would do the job. However, your time as a business owner is valuable, and you need to consider the cost of the service compared to the amount of time it would take you to accomplish the same task. While this is true for any job, it is particularly true for hiring because it is a highly time-consuming process. Handling staffing internally will require you to have a human resources department that will oversee monitoring the positions needed, advertising open positions, reviewing resumes and cover letters, arranging and conducting interviews, follow-ups, background checks, and finally, job offers.

Once a candidate is selected, the human resources staff will then have to ensure the new employee is on-boarded efficiently and trained quickly for their new position while also making them feel welcomed and encouraging them to embrace the culture of the environment.

The hiring and onboarding process for new employees will take many hours over many weeks. The larger your staffing needs, the more continuous the process. For medium-sized companies, the best approach is to outsource the hiring and focus on onboarding internally to ensure new employees are trained the way you want them to be trained. You can work with the staffing agency to ensure they understand your business philosophy and what you are looking for in new employees.

3 Reasons Why You Should Consider Starting a Business in Oregon

Oregon is known for its lush forests, rainy climate, artisan breweries, and quirky Portland hipsters. But what most people don’t know is the state is booming with entrepreneurship. With a thriving start-up scene, more than 320,000 small businesses, and big-nam

Oregon is known for its lush forests, rainy climate, artisan breweries, and quirky Portland hipsters. But what most people don’t know is the state is booming with entrepreneurship. With a thriving start-up scene, more than 320,000 small businesses, and big-name brands like Adidas and Nike, Oregon is the nation’s best-kept commercial secret.

So what makes Oregon so desirable for businesses? The reasons abound as to what makes the Beaver State a business-friendly capital. From a highly educated workforce to low operating costs, the state gives you access to a talented network of potential employees and inexpensive means to set up shop. Oregon also has an impressive business climate that welcomes and rewards small businesses and motivates investors. The state’s largest city — Portland — cracked the Top Ten in Inc.’s recent list of the 50 best places in America for starting a business. Beaming with a range of industries, Oregon will make any business feel like home. Portland’s foodie scene is brimming with possibilities for potential bars, restaurants, and cafes. Outdoor and athletic apparel will certainly attract attention to Oregon’s outdoor enthusiasts. With cannabis legal for medicinal and recreational use, businesses focused on the plant are sure to be popular. Tech and software companies are growing in the state’s budding start-up community. And health care and electronics and computer manufacturing companies are expected to prosper in the coming decade in Portland.

So if you are an entrepreneur thinking about starting a new company, but are not sure where would be the ideal location for economic growth, look no further than Oregon for your business venture.

Flourishing start-up community

Oregon is fast becoming the quintessential home for start-ups. And Portland, specifically, is on the rise to rival the pricier areas of Seattle and Silicon Valley in terms of an impactful start-up scene. With a variety of industries from bio diesel recycling to commercial roofing in Oregon, any entrepreneur can find success in Oregon. Both Portland, and the state as a whole, boasts numerous resources, groups, pages, events, and training programs for new business owners. Oregon’s culture encourages business independence, collaboration, and a do-it-yourself attitude that speaks to start-ups.

Business-friendly tax system

Oregon’s tax system is not just friendly to consumers, but to businesses, as well. Known for not having a sales tax on its products, the Beaver State provides retailers with copious profits. The no sales tax policy makes stores the biggest recipients of Oregon’s generous tax system.

So whether you are selling expensive outdoor power equipment in Gresham, OR  or a small cup of coffee in Portland, you will be reaping the full profit.

Big incentives for small businesses

Oregon offers several opportunities for emerging businesses to take advantage of. The state’s Emerging Small Business certification program gives priority to new businesses with various government contracts, including municipal and city contracts.

The state also offers the Oregon Investment Advantage, a program that helps businesses start or locate operations in counties across the state. If your company creates at least five full-time jobs in the county and sets up new facility operations that are the first of their kind in the state, you could deduct or completely erase your state business income tax liability for up to ten years.

Oregon might be a skeptical choice for some entrepreneurs who assume California would be better suited to their needs. But don’t judge a book by its cover because with Oregon’s favorable business atmosphere, variety of industry markets, and a cheap office space surrounded by redwood trees and water, the more business savvy decision could be where you least expect it.

What Is a Mortgage Offset Account?

Whether you’re a first-time homeowner or looking for an upgrade, understanding the differences between types of home loans is imperative. There are numerous types of home loans, with each varying in interest rates and monthly payments.  A mortgage offset accou

Whether you’re a first-time homeowner or looking for an upgrade, understanding the differences between types of home loans is imperative. There are numerous types of home loans, with each varying in interest rates and monthly payments. 

A mortgage offset account can help homebuyers reduce the interest charged on their home loan and allows account holders to access money when needed. So, what exactly is a mortgage offset account, and how do they work?

What is an offset account?

An offset mortgage account is a transaction account connected to a home loan. Like a traditional transaction account, offset account holders can deposit or withdraw cash at any time.

The main difference between an offset account and a traditional transaction account is that an offset account can reduce the amount of interest charged on your home loan. Holding money in an offset account can help you pay off your home loan sooner and accrue less interest. The higher the balance in your account and the longer you keep the money in the account, the less interest you’ll be charged on your home loan.

In most cases, offset accounts are only available for home loans with variable interest rates. However, some lenders allow homeowners to open an offset account for fixed-rate home loans.

How do offset accounts work?

When a homeowner opens a mortgage offset account, they’re only charged interest on the net balance of their home loan. The net balance of a home loan equates to the loan balance subtracted from the amount in the redraw offset facility or offset account. 

For example, if you have $10,000 in an offset account and owe $200,000 in your mortgage, the interest on the home loan will be calculated on $190,000. Essentially, in the case of 100% offset accounts, the balance in your offset account is deducted from the balance of your home loan.

Opening a mortgage offset account does not change your monthly repayments. However, more of your repayments will go toward paying the principal balance of your home loan, rather than the interest accrued. Mortgage offset accounts help homeowners pay off their mortgage faster while accruing less interest and allow homeowners to access the money in their offset account at any time.

What are the benefits of an offset account?

Holding money in your offset mortgage account can save you thousands of dollars and can shorten your home loan repayment period by years. For example, if you take out a home loan at $400,000 with a 5 percent interest rate and a loan period of 30 years, storing $10,000 in your offset account for 30 years can save you more than $30,000 in accrued interest. Along with saving money, you’ll reduce your repayment period by a year.

Is an offset account right for you?

Although there are many benefits of an offset account, homeowners should review their current financial situation before opening an account. If you plan to regularly deposit and withdraw money, an offset account can give you immediate access to your cash. However, many lenders charge to open an offset account. 

In some cases, homeowners are charged a monthly fee, while other lenders charge an annual package fee. Consequently, homeowners should consider whether saving interest will be more beneficial than paying account fees.

If you own a home and you’re planning to move soon, an offset account may not be for you. Instead, a simple google search like “Sell My House Fast California” can connect you to companies that make the process of buying and selling a home easy. Because selling your home “as is” can provide you with immediate cash to use toward your next home loan, you’ll start with a lower loan balance and you won’t be charged as much interest.

Opening a mortgage offset account can reduce the amount of interest accrued on your home loan and help shorten your repayment period. Ultimately, whether opening an offset account is the right choice for you depends on your financial situation.

What’s the Best Way to Pay for Home Improvements?

If you are ready to make some improvements to your home, the cost is likely at the top of your mind. Some improvements may be cosmetic things that you have saved up for. However, other home improvements, such as foundation repair or a new roof, are vitally imp

If you are ready to make some improvements to your home, the cost is likely at the top of your mind. Some improvements may be cosmetic things that you have saved up for. However, other home improvements, such as foundation repair or a new roof, are vitally important to your home and can prevent you from having more expensive repairs or updates later on. If you are stressed about funding the project, it may cause you to put the needed repairs off until it is too late. If you want to learn about some of the best ways to pay for your home improvements, keep reading for some options to consider. 

Look into getting approved for a loan

One of the easiest ways to finance your home improvements is to apply for and get approved for a loan. If your credit score is high, you should have no problem being approved for a home improvement loan with a low-interest rate. Although, you still have options even if you do not have a great credit score. There are some installment loans with no credit check in Canada and other countries. Always do your research to see what is out there for your country. These types of installment loans are best for smaller amounts of money, typically under $1000. Getting a loan for your home improvements allows you to pay for needed updates, repairs, or additions while maintaining flexibility with your money.

Putting the total on your credit card

While not an ideal option, you have the choice of putting your home improvement costs on a credit card. Be careful with this option, though, as credit cards often have higher interest rates than most traditional loans. However, the benefit of using a credit card is that you could accrue mileage points or rewards, and you do not have to fill out any applications, which could cause a hard pull on your credit report. If you choose to use a credit card, always make sure to do your research and make sure it is the best option for you.

Using your savings for interest-free payments

If you have the assets, it may be in your best interest to pay for your home improvements using the money in your savings account. If you pay out of pocket, you avoid any interest you may end up paying with a credit card or home loan. This means that you will pay less for your home improvement than you would otherwise because you will not be charged an additional percentage each month. This could be especially beneficial if you do not have the best credit history because you avoid having to get an interest rate at all. Interest rates for loans are typically better for those with excellent credit than they are for those with poor credit scores. 

Investing in cost-saving home improvements and updates

Something you may not have considered when thinking about your upcoming home improvement projects is how to actually save money long term by making certain updates or substitutions to your home. Consider researching some energy-efficient options for your home so that you can save money on energy bills in the future. For instance, if your household’s monthly energy bill is more than $75, you may be a good candidate for residential solar panels. Not only are solar panels energy efficient, but they also produce a cleaner energy alternative to traditional fuels. You may also want to consider “low flow” faucets, bettering your home’s insulation to maintain temperatures, and weather-stripping your windows. All of these things will help you save money on your utility bills, which is more money in your pocket for the future.

Financing Home Improvements 101: Here’s How to Upgrade on a Budget

Unless you have a lot of money saved up for home improvements, you’ll need to find a way to finance them. Being on a budget makes doing all the home improvements you need a little difficult, but they still can be done. It is estimated that the average home imp

Unless you have a lot of money saved up for home improvements, you’ll need to find a way to finance them. Being on a budget makes doing all the home improvements you need a little difficult, but they still can be done.

It is estimated that the average home improvement project could run you anywhere from $40,000 and can go as high as $130,000. The problem is, most people don’t have that kind of money just lying around to spend on remodeling costs. The following guide will examine a few of the smart ways you can finance your home improvement projects on a budget.

Save money in other ways

There are a few things around your house that you can do to cut costs while you’re financing your remodel. Checking into the smart lighting solutions such as Lutron lighting in Austin is a good place to start. A whole-home installation of smart lighting can be done without retrofitting or rewiring your home. Whether it’s automated shades, dimmers, timers, or sensors, you can take control of the lighting in your home and save money for your home improvements at the same time.

You can also pick up a few other smart devices that will help lower your bills as well and leave more for your remodel.

Sit down with a contractor

The very first thing you should do is sit down with a contractor so you know exactly what your home improvement project is going to cost. Plan the project out in full together, including every aspect and even a few emergencies that might crop up along the way. Once you know about how much the home improvement project is going to cost, you can check into the options for financing.

Apply for a home improvement loan

Another option you could consider is consulting with one of the private money lenders in Texas to see about securing a home improvement loan. Most of these companies have a fast and easy process, and the loans are offered with no hidden fees that will come back to haunt you later down the line. The fact that the rates are competitive makes these loans a great option for homeowners on a budget who need home improvement options.

Credit cards

It is possible to cover small renovations or even part of your larger renovations with a credit card. However, it’s important that you can cover the full amount that you charged at the end of the month to avoid interest fees piling up. When you’re on a budget, the last thing you want to do is add more bills to the list of monthly payments.

Cash

Of course, when it comes right down to it, cash is still the best way to go to cover any home improvement project, especially if it is a small one. It may take longer, but if your project isn’t something that needs to be completed right away, it’s better to save the money to finance it.

Saving for a remodel isn’t easy, especially with so many other things to save for, as well. The best thing to do is to take things one step at a time. Determine which improvement is most important, figure out how much it will cost, and make that your goal. It’s the best way to finance a remodel if you don’t want payments and interest fees.

These are just a few of the top ways to finance your home improvements on a budget that you could check into. One of them is sure to be the right option for your needs.