Welfont Group

WELFONT JOE JOHNSON You have owned your 1031 investment for several years now. One or several leases are coming close to their termination date(s). What do you do? It’s a common dilemma. You are probably facing one or some of the following issues: The property has some deferred maintenance/capex items that will need attention You don’t know if the tenant wants to stay and what, if any, concessions they want, and you don’t want to go through the hassle of negotiating a new lease or finding a new tenant You are tired of managing and/or paying for management It’s time to sell, the market is hot, but replacement properties are hot as well Your basis is low and you would like to cash out, but if you exit, you are going to get crushed by taxes It could be any one of these, a combination, or something else entirely. Anyway, you want to exit your 1031, get your cash out, and not get crushed by recapture taxes and capital gains. What do you do? Well if you want to get your cas...

Welfont Joe Johnson , Ph.D. Entrepreneur. Investor. Startup Expert. There’s a distinct difference between giving people control of particular tasks/projects and seemingly ceding control while still ensuring that everything is being done to your standards. The first management style consists of delegating tasks/projects to direct reports and trusting that they have the ability and knowledge to successfully complete them. The second style, micromanaging, is a more control-centered approach where direct reports are constantly monitored and required to adhere to a rigid process. The ability to delegate tasks doesn’t come easily to everyone, especially when one’s own, lovingly nurtured, business is at stake. Handing over the reins of even the smallest tasks can be scary and difficult. At the same time, doing so frees you to tackle bigger-picture tasks. To successfully delegate, it’s essential to understand that getting things done is more important than having everything done prec...

Welfont Joe Johnson , Ph.D. Entrepreneur. Investor. Startup Expert. Kiva is well-known for offering loans to small businesses in third-world countries. As one of the first international providers of microloans, Kiva presented kind-hearted citizens a means of supporting others in their goals, whether they were starting a business, furthering their education, or bettering their life in some other way. More recently, Kiva has branched into U.S. lending with a focus on entrepreneurs. How to Apply for Kiva U.S. In order to apply, entrepreneurs must fill out an online application. Applicants must specify the amount they wish to borrow ($500-$10,000) and designate how they intend to use the funds. Options include: buying equipment, hiring employees, marketing, remodeling/expansion, refinancing debt, purchasing inventory, and ‘other.’ Additionally, applicants must confirm that they meet the minimum requirements for the loan (U.S. residency, 18+ years of age, etc.) during this pre-quali...

Welfont Joe Johnson , Ph.D. Entrepreneur. Investor. Startup Expert. If you’re considering starting a business, you’ve likely debated whether the time is right. Dependent on whom you ask, you’re likely to receive a range of answers. However, there’s a unique startup and entrepreneurial culture in the United States and, while TV shows may focus on Silicon Valley unicorns, the truth is that there are amazing startups and business ventures found in every geographic region, prospering and paving the way for ever more new startups. Our economy has mostly recovered from the so-called Great Recession and, while some banks remain reluctant to make new small business loans, they aren’t the only game in town. Part of the credit for the economic recovery is due to the amazing entrepreneurs and small business owners who have continued to deliver the products and services that we both want and need in our communities. These individuals constitute a vital part of our nation’s economy. As a dire...

Welfont Joe Johnson , Ph.D. Entrepreneur. Investor. Startup Expert. You may have some great ideas and believe that you’re ready to make one of them a reality – but starting a business isn’t just about amazing ideas; there’s a great deal of practical knowledge that must be effectively applied in order to facilitate (not guarantee!) success. Before committing to a project, be certain that you fully understand your idea’s financial aspects and the likelihood of its being truly viable. In this article, I’ll be covering a few financial basics that you’ll need to understand in order to help ensure that you have the requisite financial knowledge to start a business. Please take note that this list isn’t by any means meant to be comprehensive. For a better understanding of your particular business’ finances, make an appointment to consult with an accountant. When vetting a specific business idea, creating a business model canvas can help you to determine the resources necessary to get ...