Small Business Finance Tips » Finance

Finding a House for Rent

admin — Thu, 29 Dec 2011 17:54:45 +0000

Trying to find a house for rent can be very frustrating, to say the least. Most people complain that there just is not enough houses for rent to choose from. You might find the perfect house for rent, but it is not in the right area. Conversely, you may find houses for rent in areas, other than in your desired neighborhood. As a means to finding more houses for rent, you might want to consider a rent-to-own program. Generally there are more houses available for rent-to-own, then there are only for rent. No need to worry that you have now committed yourself to buying the house. Signing a rent-to-own contract simply means that if you want to buy the house at a later date, you have that option. But what if your credit is bad, or you have no credit? For most investors bad credit is not a big concern. Typically, they work with a loan officer who will help you repair your credit, often in 6 months or less.
The great thing about rent to own houses is that typically, you get a rent credit, which can be applied to the purchase price of the house. Often, as much as 20% per month for all on-time payments!Look at the following example:
You find a house for rent, on a rent-to-own program. The option to purchase price is 200,000. After 24 months this rent to own house appreciates in value by the industry average of 4% per year, making it worth 216,320. Now, let’s say your rent payment is $1,500 per month. At the end of two years you will have paid $36,000 in rent. But wait! You have a 20% rent credit of $7,200!

IF you choose to exercise your Option to Purchase, you can buy this $216K house for $192,800! The best part is, there will be NO REALTOR FEES! What bank would say no to a loan like that? So if you are trying to find a house for rent, you just might want to consider rent to own houses too.About the author: David L. Trosdahl has been the CEO of 3 regional sales & marketing companies and founder of a non-profit corporation. A real estate investor since 1991, David has bought and sold numerous residential properties, and has helped many people find a house for rent. David is a member of the real estate investors association: MNREIA, is founder of the real estate investing website: RentToOwn-MN.com and many others.

US Supreme Court Strikes Law Firm’s Defense in Consumer Debt Class Action

admin — Wed, 12 Oct 2011 09:56:07 +0000

Debt-Collection Law Firms Cannot Claim Legal Error When Sued for Improper Practices.

The U.S Supreme Court has held, this week, that law firms who use improper tactics in attempting to collect a debt cannot defend against lawsuits by debtors who were improperly served by claiming the defense of “legal error.” This is a defense that is available for clerical or factual errors, but would not be extended to mistakes of law, held the Supreme Court.

In this case the firm had sent the debtor a notice that her mortgage would be foreclosed unless she disputed the debt in writing. The debtor did what the lawyers asked and disputed the debt in writing. Then she commenced a class action lawsuit against the law firm for violating the Fair Debt Collection Practices Act.

The lower court found that the “in writing” requirement did violate the Fair Debt Collection Practices Act but that the law firm was shielded from liability because it’s conduct was not intentional, resulted from a bona fide error, and despite the law firm’s procedures designed to avoid such errors. On the first appeal, the Sixth Circuit extended the defense of bona fide error to mistakes of law such as the one exhibited here.

But the Supreme Court, J. Sotomayer, held that Congress has been more explicit when it extends the mistake of law defense in a civil liability statute, and that liability under the act was not limited to willful violations.

The name of the case is Jerman v Carlisle McNellie, Rini, Kramer & Ulrich, __ US __ (2010). The case was decided 7-2.

4 Things CPA Firms Can Do For You

admin — Tue, 06 Sep 2011 14:32:11 +0000

There are a lot of names that can be given to those that are working with CPA firms, and it’s not usually the full meaning of the acronym. For those that are not familiar with the acronym, it means certified public accountant. Number crunchers, numerical geniuses, and nerds are just some of the adjectives that get thrown around for those that are good at balancing books, and getting proper order to be the focal point of a small businesses financial outlook. A CPA can do more than just crunch numbers they can do so much more, and knowing that is the key to hiring one for your overall needs. Consider the following 4 things they can do for you:

Panning – The first thing that an accountant does is prepare for the upcoming tax quarter. They balance books, make sure things are in order, and after all that is said and done, they start making a plan for the future. An accountant makes sure that information is fully flowing and that quarterly reviews are met with advice and proper intentional knowledge. Making complex things simple is what a good firm can do for the average small business.
Business – Advising is something that many CPA firms do alongside just pushing numbers into a calculator or throwing up formulas in spreadsheets. Helping owners close the gap between profit and loss is something that is a perk that is great. Advising is not simply something that a third party does; it’s something that a good accountant can do in light of the tax preparation and planning.
Networking – Investment ideas, business plans, and referrals all run through the mind of a good accountant. If they work with a variety of small businesses, you’ll be able to find things out that can help you unite with others.
Personal – If you have an accountant working with you and your business, you can also have them deal with your personal taxes. Another perk of hiring a firm is that they can branch out and help personal financial matters and tax preparation. This perk is a great thing to explore, even for skeptics.

Small business planning is difficult. Trying to break even is hard enough in these modern times, so making a profit is painstaking to say the least. The aforementioned are 4 things that CPA firms do for anyone that hires them. The cost of dealing with such opportunities do not rise quite high. If you shop around and look for the variety of options that are available to the general public, you’ll find that there are a great deal accountants vying for position, willing to help with the demands of today’s financial picture. Even with the economic crunch that has people spending less, accountants can help create peace of mind, where there is usually only panic. It’s important to know that there is a great deal of benefits to moving forward with a firm, rather than a small company. A small company might have more attention, but they won’t have the reputation and client references that a large company might have.

Are Low Doc Loans Right For You Or Your Business?

admin — Mon, 05 Sep 2011 03:26:49 +0000

Get Independent Financial Advice and Invest Your Money in the Right Plan

admin — Wed, 29 Dec 2010 07:14:42 +0000

When you want to invest your hard earned money in the right way then it is good to seek the advice of independent financial advice so that you can invest your hard earned money on the best plan. Majority of the people do not have complete knowledge about the various financial products, they may choose a wrong financial product which could spoil their investment. When it comes to choosing the right plan and financial products it is daunting task as one could loss thousands of money by investing in a wrong plan.

Independent financial advisors are experts and usually they have years of knowledge and expertise in different financial products. They help you to choose the right type of financial product even during uncertain economic times. Everyday fuel price and the cost of regular commodities are sky rocketing and the economic is also unstable but obviously by choosing a skilled professional financial independent advisor you can invest in the right type of plan or products. When it comes to the ability to take the right decision on financial products it goes to none other than professional independent financial advice.

Best annuity rates depends upon various factors especially you have to chose the right plan when it comes to pension annuities, life insurance and many more. You have to pay a certain amount as a premium for a specific period of time and then you will automatically receive periodic payments for a particular period of time. When it comes to annuity rates there are different types including fixed, variable, immediate and deferred annuity. Plans with best annuity rates can be easily chosen with the help of professional financial advisors.

Regardless of your financial situation best financial product will be suggested by advisor. They can be used for choosing insurance schemes, financial products available in bank and private organizations. They will ensure that you will get the best annuity and interest rates and help you to take the right decision.

Important thing you can achieve from a financial advisor is he/she will understand your monthly income and help you to secure your future by choosing an opt plan. If you do not mind taking risks then you need not hire financial advisor. Complete assurance for your hard earned money is provided when you invest it after getting advice from them. So get the right advice before you invest your hard earned money.

Why Is Creating A Personal Budget Critical To Your Financial Future?

admin — Fri, 05 Nov 2010 00:48:46 +0000

Creating a personal budget is critical to your financial future because having a rough idea of what bills need to be paid and when, is simply not enough. Creating a personal budget is important because a clear plan allows you to evaluate your income and expenses to see if you’re spending more money than you’re making. Failing to create a budget that accounts for all your spending may cause you to live beyond your means and eventually end up in debt. Are you convinced that you need to be creating a personal budget and do you know how to go about it? Some people desire to but procrastinate.

Here are some common excuses for not budgeting-have you ever used one of them?

“I’ve tried creating a personal budget but I never seem to follow through.”
“I don’t plan on going into debt so I really don’t need to learn about creating a personal budget.”
“I don’t make a lot of money and don’t have many bills so I don’t really need to know anything about creating a personal budget. Besides, I don’t spend that much anyway.”

Let’s start with “I’ve tried creating a personal budget but… “. The issue here is discipline; one thing I’ve learned in life is the disciplined will rule the undisciplined. You have to discipline yourself to follow through. Is your financial state important to you? If so, begin by spending 5-10mins at the end of each day making note of money spent, where and comparing it to your budget. It is easier to remember and track this way. Without creating personal a budget, it’s very easy for money to slip through your hands unnoticed and unaccounted for. Creating a personal budget is vital to your present and future success.

For instance, if you’re currently working full-time for minimum wage in Ontario, that’s $10.20 X 40hrs/week = roughly $20,000/year. If you’ve been working for the last 5 years, you’ve made about $100,000. Where is all that money? Can you account for it? Not having a budget is a recipe for disaster.

As for the claim that “I don’t plan on going into debt anyway,” no one ever plans on going into debt, it just happens, trust me. Ever heard of the saying “when you fail to plan, you’re planning to fail”? Creating a personal budget allows you to see where you currently stand and to take stock of how much is needed to get by every year, month, week, etc., and then compare it to how much money you’re actually making. If there is a shortfall between your income and your expenses, it forces you to take a critical look at your expenses and look for where cutbacks can be made. Without creating a personal budget, it is easy to miss this discrepancy and easily reach out for credit cards to cover the shortfall.

And for the reasoning of, “I don’t make a lot of money/I don’t spend much anyway,” not having a lot of money or only having a few bills is not an excuse for failing to create a budget. Bills always start out as a “few” but if care is not taken, they mount up; just like small problems become big problems when they are ignored. The issue is not how much money you make, it’s how you manage what you do make. It is very naive to think that once you start making more money, you’ll start creating a personal budget and learn to save. It won’t happen. If you haven’t learned to manage small amounts of money, you won’t be able to manage large amounts of money. We are creatures of habit and no matter how old you are, you need to start developing what I call “good money habits.”. Whatever habits you’ve developed over the years have gotten you to where you are now; do you want to keep going in this direction? If not, you need to change your habits because if they could have gotten you more, you would already have more. The first step in changing those habits is creating a personal budget.

So let’s re-cap. To be financially secure and not end up knee-high in debt like the average consumer, you need to live within or better yet beneath your means. Exercise discipline, learn good money habits and get started by creating a personal budget.

Fast Growing Independent Equity Firms Doing Business in the UK

admin — Thu, 28 Oct 2010 08:40:27 +0000

There are many independent private equity companies based in the UK that are succeeding in making profitable equity investments for their clients. The top companies are the ones that structure client services that are geared towards meeting the needs of and fulfilling the investment challenges faced by businesses and individual customers struggling to meet tough demands in an uncertain economic climate. They are especially well equipped to actively manage their portfolio of businesses through responsible business practices, which result in lower risks and added value for shareholders. Following is a list of only a few of the highly qualified and dynamic investment companies working out of the UK who excel in helping their corporate customers, blue-chip companies, innovative entrepreneurs and international organizations to reach their goals by making solid equity investments that are profitable in the short run as well as long term.

Greshem Private Equity

Greshem Private Equity is one of the leaders in the range of independent and locally based mid market equity investors. The company has earned a worthy reputation of consistent and successful investments and rich partnerships with local management teams. The firm offers regional services that enable it to provide valuable local contacts with regional knowledge that open the doors to new opportunities for long-term success. All business investments are carefully researched to ensure they are based on a solid business model, are flexible enough to withstand a competitive market, are consistent with the generation of a consistent cash flow and can work seamlessly as partners with Greshem representatives. Some of the sectors that Greshem invests in are industrial businesses, energy and environment, consumer products, business support services and pharmaceuticals.

Rosemont Group

The Rosemont Group is a privately funded investment company established by renowned investment entrepreneur Frederick Achom in 2002 and was recently valued at over $40million. Along with a myriad of investments in popular international brands of luxury products and services, the Rosemont Group is active in the UK equity investment market. The experienced team of investment professionals seeks out existing business ventures with high potential and make either capital investments or utilize its own resources to grow the company. Through its careful selection of high potential start-ups and companies on the ground, Rosemont Group creates investments with long-term capital growth and positive cash flow. The team’s expertise and particular skill sets take into account operations and management, sales, strategic business planning, financial consultations and marketing and promotions. The Rosemont Group is well situated to offer either passive support in the realms of capital or direct resources but in both directions the company provides intellectual capital as well as active support at multiple levels in wholly owned companies, joint venture projects and well-formed partnerships. The Rosemont Group specializes in equity investments from $1 – $10 million, but is flexible when it comes to potential projects or promising partnerships that do not fit within that range.

NVM

As the stock market in the UK is on the road to recovery with a slow moving growth in the economy, NVM has taken measures to succeed during the upswing as its investors share in the company’s growth through its list of carefully chosen funds. The company pinpoints potential UK investment opportunities and manages 200m in funds, including Northern 3 VCT PLC, Venture Capital Trusts and Northern Venture Trust PLC. A total of 4.5million was earned from investments in new venture capital funds and profits from sales of investments reached 2.0 million. Positive trading results are impacting the portfolio worth with generally increased values. NVM takes into account the current market conditions by being very careful when selecting new investments and employs a top-notch investment management team to oversee those investments, which ensures a steady maturing of company portfolios resulting in favorable returns to the shareholders. Providing high returns to investors that are both long-term and tax-free through capital growth and good yields on dividends are the focus of NVM investments. Its professional and experienced venture capital executives work out of offices in Reading and Newcastle upon Tyne where they successfully manage the funds and investment trusts.

Graphite Capital

Placing a major emphasis on the mid market companies, Graphite Capital is a one of the top equity investors in the UK. The London based firm became independent in 2001 but its investors have been successfully raising and managing private equity funds since its inception in 1981. Currently under its equity investment management are funds worth more than 1.2billion.

Lloyds Banking Group

One of the more accessible equity investment firms is Lloyds Bank, which works through offices nationwide and specializes in the areas of corporate finance, capital markets, risk management, international trade and banking. On staff are teams of financial professionals whose knowledge base cover a wide swath of sectors including business services, energy, leisure and health, manufacturing and transportation, retail and consumer products, financial institutions and construction and real estate. Its corporate customer base numbers 30,000 and includes blue chip companies as well as entrepreneurs rapidly reaching new business heights.

Deloitte Touche Tohmatsu Limited

Deloitte Touche Tohmatsu Limited (DTTL) is an independent UK company that provides regional equity investment services. The firm’s trademark is its unwavering pursuit of high quality investments and sustaining trust of its clients throughout every level. Deloitte is known for its collaboration, industry expertise, innovation and exceptional client service reaching into such areas as tax consultation, corporate finance and audits.

The Loan Process – Purchasing a House

admin — Thu, 01 Jul 2010 08:08:04 +0000

Homebuyers are occasionally frustrated with purchasing a home because they have no idea of the sequence of steps involved. Below are the steps that may help them understand the process.

Step one: Shop for Property. Read classifieds, search online for home listings, contact real estate agents then visit open houses until you’ve finally decided which property to purchase.

Step two: Pre Qualify the Borrower. Approach brokers and present to them your income, assets and current debts so they can help you prequalify for a loan amount you can manage to repay. Form 1003; an application form containing relevant personal and financial information about the applicant can be used in prequalification.

Step three: Pre Approve and Price the Loan. Brokers may have their preferred lenders. They present scenario to them to get an interest rate suitable to your financial situation. You may have the option to have the rate floated or locked this early of the process.

Step four: Sign Purchase Contract. Think before you ink. Make sure you’ve fully decided what to purchase before signing any contract because once signed, backing out will cost you money. Agree on which closing costs you will pay, and which will be paid by the seller.

Step five: Request for Home Inspection. Hire a licensed appraiser to do the home inspection and scrutinize the structure of the house. Order appraisal report required for the loan.

Step six: Obtain and Clean Up Credit Report. Pull credit report and make sure to clear up existing debts; close out open credit cards that were never used and take out duplicates. Look for any mistakes with the bureau’s reporting and have them corrected as well. Cleaning up credit report improves your credit score.

Step seven: Collate and Order Documents. The following are the documents that need to be collected or ordered for the loan. Documents should be the most recent ones.
o Drivers License and Social Security ID
o Paystubs (2 months)
o W-2′s , Complete tax returns (2 years)
o Tax Returns and YTD Profit & Loss Statement (for self-employed; 2 years)
o Complete bank statements (2 months)
o Retirement accounts, 401k, mutual funds, money market, stocks
o VOE, VOD , VOR, VOM
o HOA Certs and CC& R ( if applicable)
o Home Owner Insurance
o Escrows and Title Reports
o Signed Disclosures

Step eight: Get Lenders Approval and Satisfy conditions. Submit collated docs to the lender for approval. Lenders have different guidelines and requirements for different loans.

Step nine: Loan is Clear to Close. Once loan is approved and conditions are satisfied, lender sends in clear to close conditions and sets the date for closing.

Step ten: Final Closing and Funding. Lender coordinates with processor, broker, borrower and title agent to set the table and sign all documents ready for funding. Once you’ve gotten to this point, shortly thereafter, you will be moving in to your new house.

Importance of Investment Property Mortgage Brokers

admin — Sat, 22 May 2010 13:20:03 +0000

Buying or selling your home or any other property is an agreement that occurs on an occasional basis. These transactions are usually complex and require some specific skills. To get best results, you will need the services of an investment property mortgage broker. Sometimes it is inevitable too.

Investment property mortgage brokers understand the environment that you would like to buy or sell a property. They also possess specialty knowledge on the areas that suit the needs of their clients better. This knowledge has put them in a prime position that makes it impossible to buy or sell a property without their guidance.

They also understand financing issues terribly much that when it comes to negotiating for a mortgage, they can achieve better results than standing alone. Their understanding of property taxation has also made them occupy a pivotal position in the property market. Property agents help their clients in making the necessary negotiations when buying or selling their properties.

They are also responsible for organizing for meetings between their clients and ensuring that all other factors relating to purchase or sale of the property. In addition, they do the necessary searches and verify the ownership of the property before closing the deal. It makes their services particularly influential in the property world.

Property financing has never been an easy task. Investment property mortgage brokers are at a better position to represent their clients due to their wide knowledge. They do have the knowledge to offer them the base for negotiating with authority. The brokers can make an enormous difference between succeeding and failing in property negotiation.

Property mortgage brokers help in obtaining a listing for properties for sale in a mufti listing system. When doing this, they do a comparison between the property at hand and a recently sold. This is usually located identically to enable them come up with the right price for the property. Through listing, the property will sell faster since many agents will get access to the property rather than if it would not have to list through the mufti listing system.

Whether you would like to buy or sell property, investment property mortgage brokers are always there to assist you to get the best from the transaction. They will assist in assessing your needs and provide ways to have them fulfilled within the most efficient manner. Real estate is a complex world. When buying or selling an investment property, you will not underrate the services of a broker.

When selling, the broker will help in listing your house and also get you the best price that would not have become possible without their involvement. When buying, investment property mortgage brokers will also get your details and look for a property that satisfies your need. The meetings between the parties concerned will negotiate together with the financing arrangements. Just because of their specialty knowledge, a broker can forcefully negotiate. Especially for financing on your behalf they can also assist in negotiating. Essentially it is vital for financing matters and also helps in closing the property deal.

The Best Way To Save For College: Invest In Human Capital

admin — Tue, 27 Apr 2010 12:14:17 +0000

What is the best way to save for my kid’s college education?” is a question that comes up pretty frequently for someone in my field. Many advisers quickly answer this question with an explanation of the various college savings plans parents can invest in for their children’s future. In fact, if you “Google” the title to this article, you will likely find hundreds of articles and blog entries about 529 plans, Minor Trust Accounts, etc. Many articles will try to tell you which education savings plan is best for you-as if they know you and your situation. Aside from the irresponsibility of making such blanket recommendations, doing so fails to consider many other factors that can affect your child’s college and professional path and overall financial situation as an adult.

Planning for college, in my mind, does NOT begin when you open up a college savings fund. College savings accounts can be great, and we’ll talk about those later – but I believe college planning starts in the toy store. It happens right around time a child is old enough to start understanding advertisements for the newest toy on the market and gets that first feeling of “I gotta have that!” Many parents understandably want their children to be happy and just buy the toy. I can’t say I wouldn’t be empathetic and wouldn’t have a hard time saying no. Ideally though, this is a great opportunity to start teaching Johnny about the value of money, the idea of savings, and to instill an appreciation of delayed gratification.

I’m not saying he shouldn’t have it, rather he needs to get it a different way. This is a great opportunity to begin building a well-rounded adult who understands that he or she should never expect to be given something for nothing. I’m not saying that little Johnny or Sally needs to go get a job. After all, I hear it’s a tough job market for five-year old children these days – darn that economy! But, if you haven’t considered paying your child to do extra chores around the house, you might want to. Some people argue that they shouldn’t have to pay, it’s their kid and he/she should do whatever he is told. This is up to the parents, and I can understand it I suppose, but it doesn’t teach anything. This is ineffective especially when the same parents go buy toys for the child, circumventing the entire lesson of responsibility. So the kid gets the toy, learning nothing about money or hard work, and just learns that as long as he stays on mom’s good side he’ll get whatever he wants.

If the budding youngster is told he can work for a dollar per chore to save up for his $85 remote control car, and that’s the only way he’ll get it, everyone wins. He/she may fight the idea at first or say it’s not enough money or he’ll just go without the toy. Hold your ground, though, and you’ll have a clean house, shiny cars, and a five-year-old that knows how to fold his own laundry. Johnny will have his robot; he’ll associate that gratification with hard work and realize the value of $85 that couldn’t possibly have grown on a tree. Priceless. Of course, you’ll have to teach him these things, but shouldn’t he learn them anyway? Once he understands work = money = getting what he wants and the parents maintain that understanding, he will probably figure out how to get a job as soon as he can and be well on his way to self-sufficiency. I got my first job at age 14 and have enjoyed working ever since.

What on earth, you may ask, does this have to do with planning for college?!

Well, now that Johnny understands the value of a dollar and saving to get what he wants, it’s time to teach him the value of saving for general things that he may not want yet, may not expect, and may need at some point in the future. Of course, it’s unlikely that he’ll pay for his entire education, but stay with me.

The examples are endless, but raising a responsible individual who understands the causal relationship between hard work, money, savings and success can go a long way in lessening the cost of education at a four-year university. I’ll name a few here

1. A 17-year-old who has understood savings and budgeting concepts for 10+ years is going to be much more understanding of what type of education he/his family can afford and will keep that in mind when he applies. He/she will understand the importance of applying for grants and writing essays for scholarships, and he’ll be more well-rounded and qualified to get them! The only people I know who didn’t get some kind of grant for tuition are the ones who never applied because they didn’t understand the value of money saved – and we’re talking about tens of thousands of dollars they let just slip by!

2. Roth IRAs- yep, once your child starts earning taxable income, they can begin saving in their own Roth IRA that can grow tax-deferred and be used for qualified education expenses. Even if Johnny earns $3000/yr and spends every dime after withholding, the parents still have the option to put in an amount up to his after-tax earnings of $3000, subject to the IRS limit of $5000/yr. These accounts can have little or no fees compared to more expensive college savings accounts. If he doesn’t use it all for school, he’s got a leg up on his retirement planning. Your son is going to be a financial rock-star compared to his peers.

3. If he has been working for some time, he’ll probably appreciate the independence afforded him by having a job and paying for his own things and will not hesitate to work through school. This is huge but will be tough to accomplish with a child who hasn’t had to work much before. Think of this as a zero-sum reduction in your college expenses. If Johnny makes $1200/month working part-time in school, that is $1200 you don’t have to spend or cover with a savings account.

4. All the money that you saved throughout Johnny’s youth by having him work hard for his things instead of buying everything for him can be applied elsewhere. You can put it into whatever college savings account you and your adviser decide is best. Since you’ll have more and need less(for a student who works) maybe put some of it towards a musical instrument and some lessons, making your progeny all the more likely to receive grants and scholarships for school costs.

Here are some other brief tips that can save you and your offspring thousands of dollars along the way. Teach them to shop smartly, both for clothes and groceries. Yes, I said groceries; it’s part of teaching them to cook so they don’t just keep their neighborhood domino’s pizza afloat for four years. Don’t buy them a car. Instead, offer to match whatever they raise towards one. This is a good way to provide incentive and make sure they can still afford a reliable, safe vehicle. Put the money you save here towards their college savings. Are you getting the theme of all this?

College savings is not about looking for the best account that’s going to miraculously grow everything you put into it. We’d be happy to talk to you about the various plans available and what you need to put away, but don’t forget that it starts with raising a responsible, independent individual. This leaves you with a substantially smaller financial liability and at the same time allows you to accumulate more assets to fund the liability of a top-notch education.

Final note: Not only are you preparing for college, you’re preparing someone for life. I know too many people, especially in my generation, whose parents never taught them about financial responsibility. The ones whose parents did pass on this life lesson look back on it with immense gratitude.