Each Country will require much budget to finance everything related to the interests of the Country. For example to pay the president, paying civil service salaries, pay for road construction, and others. Many things done by every Country in the budget to collect these funds. Usually, each country relies on Country cash income from the tourism sector, exports and imports, taxes, and so forth. In the case of tourism, all countries competing each other to promote the beauty of a place in that Country or any other beauty. Apart from tourism, each Country will rely heavily on cash revenue for the Country from taxes. The government of each country often use money from taxes to finance the construction, example roads, government buildings, markets, schools, and others. Tax is a contribution of each citizen to the Country mandatory. So for anyone who refuses to pay will be punished in accordance with the Act governing.

A lot of taxes to be paid by every citizen of the Country, such as property tax, income tax, and so on. For every person who has worked or the company, would be familiar with income tax. When they get a salary or a profit, then the money they have to cut income tax. Many people are actually aware of the obligation to pay income taxes and taxes other, but because it is sometimes too complicated, usually they become lazy. But now we can prepare taxes easily, because with our online tax preparation can quickly and easily in the care of taxes.

Langham Hotels International, the operating and asset management arm of Hong Kong-based Great Eagle Holdings, has identified India as a strong market for development. Helmut Knipp, its senior VP (development) reveals, “Our focus has been on China of late. But India is as large and showing similar growth. The opportunity cannot be missed and we wish to take measured steps to establish the brand in India.”

According to the company, there is a strong interest to build the brands in Delhi NCR, Mumbai, Hyderabad, Bangalore, Chennai, Ahmedabad, Kochi and Goa. Knipp adds, “While on a trip to Pondicherry, I realised that the place is an ideal destination for our wish list – an undiscovered gem.”

The group is looking at management contract development in India for its two brands – The Langham (super luxury brand) and Langham Place (ideal for cities, mixed-use, or business hotels) – although it has not completely sidelined direct ownership. “In case we go for ownership, the investments will be accrued through debt and equity,” Knipp says.

According to him, there will be a focus on selecting the right partners for which he is currently speaking to developers. “We are open to partnerships with real estate developers or even Indian hotel companies for existing or greenfield properties. We will also try to facilitate funding for projects through our international networks,” Knipp elaborates.

The group aims to enter into a long-term contract of 25 years that can be renewed. Speaking about the fee structure, Knipp remarks, “We are going to be very competitive and at par with international standards. The group wants to offer value addition for the Indian developers and would expect developers to live up to the brand’s standards.

The Langham Hotels and Langham Place would have an average of 50 sq metre and 35 sq metre room sizes, respectively. While the former will be restricted to a maximum of 200 rooms, the latter would range from 100 to 400+ rooms properties depending on the plot. Raju Shahani, executive consultant with LHI, informed, “The estimated cost for the former will be approximately Rs 1.2 to 1.3 crore, while the latter would be from Rs 80 lakh to Rs one crore. These are estimated figures and would come down in case of real estate developers owing to their expertise in the field of construction.”

There is a plan to make Chuan Spa – a signature brand of LHI – a regular feature in its Indian properties. The group might add some specifically-designed spa rooms on the same floor. The group has forayed in China with a boutique hotel set to open in 2008 and recently opened a spa resort in Thailand. LHI has a development office in Bangalore at present and is looking to have its first sales office in Bangalore, Mumbai or Delhi that will help focus on India’s outbound market.

Revised-Real Estate Investment Partners

For real estate investors, having a partner can be very profitable. It really is a “legal relationship between two or maybe more persons associated by contract.” who do business jointly.

There are many uses for partnerships in real estate business. Taking on a partner not only brings more money, and makes you bolder to invest, but also splits the risks should something go wrong. It’s kind of softens the blow. It also splits the payout, but, that is fair enough, for the added benefits accrued. Possessing one set of qualifications, makes you the one to tie up with person/s having another set of qualifications in the business. If you have the money, but not the time and knowledge, there are partners/investors who have these, but not the needed money!

If you have found a suitable property that would sell well on a lease basis, but the sellers cant sell that way (they must have quick money from the sale)so you would have to shell out money or go for a mortgage for it to work for them. If you cant raise or don’t have, then partner-up with someone having the cash. Half a profit is better than nothing.

Sometimes, one may have money, but have no tome to look for or take care of a property, and yet wants to invest. Here the investor with the funds will be required to pay (with reasonable interest) or acquire the homes mortgage. Both partners square off the payment of mortgage with the rental income got from the house. If the tenant or buyer exercises his option, all gains are divided or re-invested into the company. 

Partnerships are not rigid and can work in any way, if a partner so desires.

Choose a partner well. A lot of good friends have ended over misunderstandings in business. A real friend shouldn’t be lost over money disputes. When the money is yours, you should pick someone who is aggressive, a good record keeper, worthy of trust and with experience. If the property falls to your management, then you’ll want someone who has the money, is fair, honest and willing to have confidence in you doing your part.

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Legalize all partnerships. The working of the partnership, should be understood, worded out and signed before any business transactions take effect. Scrutinize your plans together; ask what partnerships goals you want to accomplish. What if so and so goes wrong? Be prepared for all eventualities. Ensure all your solutions and options are taken care of before hand. Suppose if you must take a tenant to the law. Which partners does the representation? 

Companies with limited liabilities are good for partnerships. They have attorneys, who work out the agreement of operations. All partners should review this. When all alterations or corrections are made, then each one keeps a copy, after signing them.

Take an attorney’s advice upon going for a partnership. Lack of communication and weak paperwork is the reason why partnerships sometimes flounder. Misunderstandings eventually ruin good partnerships.

To be successful many businessmen have multiple partners. Partnerships bring together more energy and with more energy you can do more than you can do by yourself. So go ahead and enjoy all the benefits in real estate investment?

Written by: JB

Date Written: 16/07/2008

Reviewer Assigned by: David

Reviewed by: VO

Quality Control: AG

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Quality Control Completed on: 30/07/2008