Tag Archives: real estate

How to Determine a Good Rental Property

miniature houseEvery investor wants a good deal when it comes to purchasing property, especially if it is a rental property. Real estate is a tough business with many hidden factors that should be carefully considered before money changes hands.

Before you set your budget or begin your search for property in Denver, consider factors that will affect your potential profits. You can consult with rental management companies in Denver as they have experience in identifying rental properties that could turn a profit. They can walk you through these three important matters:

Return on investment

If you are buying property at a low price and you would need to renovate, then you should consider the total costs, time, resources, and effort. Your potential return on investment is the most crucial factor to consider when purchasing or investing in a rental property. Also, factor in how many tenants are willing to pay for rent and ask to see the accounting books from the owner to determine profitability. If the cash flow is limited, you might not get substantial returns from the property if you don’t put in extra work in improving the building or marketing it to increase occupancy.

Location

The location of the property determines its value, too. If the demand for rental rooms or houses is simply low at the property’s general location, then you can’t expect to make much money out of it no matter the renovations you make. Take your time to research the area and find out the real estate trends in the region. A low purchase price can’t make up for the losses due to weak demand.

Also, scrutinize the deal if the rental property is too affordable for its location. There is always a reason why a real estate in a prime area is in the market for a meager price. Check for problems in the foundation, plumbing, or sewer. You should also find out if the area is prone to flooding. Never spend money unless you know everything there is to know about the property and whether it will be a good investment.

The key to succeeding in real estate investing is to identify the good bets from the bad. If you aren’t knowledgeable in real estate, get a professional to help, and you won’t regret spending your money on that property.

Questions You Should Ask Before Choosing an Estate Agent

Key to a new homeLooking for an estate agent when you want to buy or sell a property can be stressful. But if you want to save time, you could ask recommendations from friends and family, as some of them might be able to point you in the right direction. Once you make a final list of your chosen estate agents in Penge, make sure to ask them the questions that we have listed below to see if they are the right fit for the job or not.

How much do I have to pay?

An estate agent usually charges between 1 and 2.5 percent of the price and VAT. Many agencies exclude VAT rates depending on the type of contract you sign with the estate agent.
The total fees also depend on the estimated value of your property so estate agents would accept less than one percent for houses with a higher value, such as those priced £500,000 and above.

 What is their marketing process?

 Estate agents should list your house in the most popular property portals, as well as local newspapers. Doing so will ensure that your property will attract the right market.
If you are buying property, check their online offers. Look for properties that are near your area or are similar to yours so you could gauge the price.

Should you consider an online estate agent?

Online estate agents do not charge as much as conventional agents, but they have various packages which they offer their clients. Most often, they ask a flat fee of £300 but offer payment upon completion of the sale. An agreement like this would usually cost you more.
Ask about their special approaches when it comes to selling or buying a home. Most agents have some tricks up their sleeve, and knowing them can help you determine if they can help you find the property of your dreams.

Three Things to Look for in a Real Estate Broker

Handshake of a real estate agent and a client

Handshake of a real estate agent and a clientIn 2015, a survey found that Florida had almost 29,000 new real estate brokers. This is the highest the sector reached in the past 9 years, and the number has steadily grown in recent years. This is good news for the real estate market, as well as people who are looking to buy homes in the state.

But, with so many real estate firms and brokers to choose from, how do you know which one can meet your needs? Remember these when you look for a seasoned and reliable realtor in Florida.

Years of Experience

Shayla Twit, a seasoned realtor in Saratosa, FL, notes that not because a person is new to the field, it doesn’t mean that he or she is not fit for the job. However, when it comes to a commission-based career such as brokerage, someone must be capable of offering quality service to be able to survive long in the trade. With years come experience, so it’s good to look for a broker with at least a few years of experience.

Number of Current Clients

Most people think that veteran brokers have a long list of clients. Maybe yes, maybe no. It really depends on how the broker decides to handle his or her clientele. Sometimes, in order to provide better quality service, even veteran brokers turn down new clients. The better question to ask is the average number of clients he or she is currently handling. Asking this would give you an idea if your broker can handle your requests effectively.

Tech-Savviness

If you’re expecting your broker to answer inquiries as fast as you need them to, look for brokers who are tech-savvy. Let’s be honest here, some of the veteran brokers are not that comfortable using a smartphone or even answering emails. So, if you want someone who is always raring to answer, try to look for someone who is quick to reply to your inquiries using all channels possible.

Of course, you need to look for a real estate broker with the right and complete credentials, as well as people skills. Keep these in mind if you’re planning to buy a home in Florida and you need a broker to navigate the real estate market.

A Strategy to Make Your Home Ownership Dream a Reality

Front shot of modern homeBuying a home has and will always be part of the American dream. Unfortunately, not everyone gets to realize it. There are many reasons, one of the most common is making a down payment.

Although it’s possible to secure a funding program that doesn’t require putting down payment to purchase a home, there are benefits to still doing so. In Ogden, you’ll find housing grants that offer first time homeowners down payment assistance.

Making your dreams of homeownership become a reality

In a typical setting, home buyers would need to put down at least 20% of the property value they wish to purchase. For instance, a house that sells for $100,000 would require the buyer to make a $20,000 down payment. While you can save up for it, it’s still a lot of money, which may discourage you to push through with your buying plans.

Down payment aid is available, with some offering as much as $5,000 assistance for those who qualify. If you meet the requirements, this would mean that you would only have to save up $15,000, and you can already purchase your dream home.

The reasons to strive to make a down payment

There are several good reasons you’d still want to make a down payment. First, doing so allows you to the additional (and expensive) cost of private mortgage insurance. Most lenders require PMI when borrowers can’t complete a down payment, and because this is long-term insurance, it can quickly add up and balloon your overall mortgage expenditures.

Besides, putting down money also makes it easier to pay off your mortgage, since the interest will apply on a smaller amount of borrowed money. The sooner you pay your debts, the sooner you can live a debt-free life as a homeowner.

Land Development: Why You Need to Do Things Differently in 2018

Property Management displayed on a tabletLand and property management or development is not an easy task, particularly when you have no expertise in the field. You may have blundered before, but not anymore.

Cato Bolam Consultants notes that planning consultants could be your reliable ally.

Who are they?

Planning consultants are certified personnel who offer advice and perform a wide range of activities, including statutory planning, land subdivision, resource management, land development and engineering.

How can they help in your land development project?

Sometimes, you may not be sure of what to do with your land. You may have a project in mind, but are you sure that it is the best? The experts are visionary and tend to see the property in its developed form. Therefore, their primary role is to explain the complete process of land development to the landowner or the developer. They also guide the developers on how the development plans can be implemented.

Execution of Legal Formalities

The consultants are experienced, so they know the legal matters associated with property development. They can save you the hustle of submitting or resubmitting the planning applications since they do it on your behalf.

Help in the Market Value

Depending on what they find suitable for the project, the consultants do some research on the market value of the project. Moreover, they conduct feasibility studies for the development.

Why Timely Involvement is Important

You need to involve the planners in the initial stage of the land development process. Early involvement prevents any extra costs due to faults in the planning and development process.

What Else?

The planner or consultant is central to every correspondence with the council. For instance, they can respond to the council’s requests and objections if any. They guide the developers on how to make drafts and rectification to meet the council’s requirements.

There is no easy way to develop your land than hiring expert planners or consultants. This will help you get the most of your property and enjoy all the benefits.

Enjoy a Stress and Pain-Free Homeownership When Buying Your First House

Couple outside homeOwning the roof over your family’s head is a great source of pride for many American homeowners. In fact, the average American lists their home as their single most valuable asset, for good reason. A decent home can set you back a couple of hundred of thousands of dollars.

Given the kingly asking prices, you may have to take out a mortgage to finance this dream. With the average monthly payment mortgage running northwards of $1,000 the last thing you need is additional bills in your mail.

Unfortunately, many first-time homeowners make crucial mistakes that bury them in debt.

Don’t buy a home in a rush

At the back of your mind, you have a picture of what comprises a dream home. This can help you breeze through the decision-making process, but it can also be your undoing. It may cause you to overlook crucial steps if you chance upon your perfect home on the market.

In such a case, you may overlook vital issues such as inspection, leading to considerable headaches later. For instance, the foundation, walls, floors, and the roof might be in great shape, but the heating system might be on its deathbed.

Once you sign the paperwork on such a house, the onus of replacing the unit lies on you.

Do seek expert advice before you commit

Involving an HVAC company when buying a home might seem a little strange, but it’s one the best decisions you can make. Considering that installing a new central heating system can easily set you back upwards of $10,000, the idea is not as wild.

In addition to providing heating repair services here in Salt Lake City, HVAC firms are amenable to providing advisory services. Retaining the services of professional is crucial when buying some old house as most central heating units have a lifespan of about 20 years.

Involving an HVAC company when buying your first home is a silver bullet that can save you a considerable amount of money and pain.

What You Ought to Know Before Selling Your House to an Investor

sold propertyIf you want to sell your house fast in St. Louis, Houston, Salt Lake City, or any major American city, a flipper is perhaps your best option. Klamengroup.com will agree.

Whether you want to turn your fixer-upper into instant dollars or avoid foreclosure, dealing with an investor is better than waiting for the most generous homebuyer to come along. By and large, flippers are willing to buy properties in “as is” condition, pay cold cash, and close within seven days.

But before you take this route, pay attention to the realities of selling to a real estate investor:

1. Sweat equity might not matter.

Investors spare sellers the ordeal of home improvement because they generally want to make the renovations themselves. This means any project you intentionally do to make your property seem more expensive might not give you any leverage at the negotiating table. The improvements you intend to make might not be consistent with the changes the flipper has in mind.

2. Sale price might be below the market value.

If you’re dealing with an investor, make peace with the strong possibility that you wouldn’t be paid based on your property’s actual market value. Flippers do business to generate profit, which is why they try to keep their expenses to a minimum. Plus, they have their own costs to worry about as well.

3. The flipper could be a con artist.

Any financial transaction comes with risks, but selling your biggest asset requires extraordinary caution. Even if you want to close the sale as soon as possible, don’t rush into things. Since investors don’t need a license to do business, exercise due diligence to ensure your prospective buyer isn’t a fraud.

Fortunately, reputable real estate investors are searchable. They might be accredited by the Better Business Bureau, and have past clients who can attest to the legitimacy of their business.

Flippers provide a unique set of benefits for house sellers who don’t have the time to wait to see the traditional real estate process through. Make sure, however, to be aware of the little things you have to give up and calculate the risks to set your expectations and avoid rip-offs.

Adios, Manila!: Why are People Moving Out?

An aerial view of Metro ManilaFilipinos long have the notion of wanting to step into Manila in hopes of finding greener pastures. After all, Manila is the capital and business center of the country and more jobs are available in the metro. But over the years, this notion of setting foot in Manila is slowly changing, at least for those who have had enough of the city.

In the last decade, more properties, businesses, and establishments are built on the outskirts of the metro, particularly in Cavite, Laguna, Pampanga, and Bulacan.

Checking on property reviews in Cavite will lead you to Lancaster New City Properties and other newly built properties in the area. Lots of reviews mean more occupants and interested homeowners. How did that suddenly happen? Why are people leaving Manila? Why are people investing in properties outside the metro?

Caviteproperties.com.ph shares some insights.

Lower cost of living

The price of a 3-bedroom house in Cavite is not even half the price of a studio type condominium unit in Manila. The stark contrast in prices is one of the reasons more people are starting to move out of the capital in hopes of owning a property at a more reasonable rate. This budding trend is also the reason there is a sudden increase in the number of developers offering housing packages outside the capital.

More options

Manila is scarce on land and buying a house enough to accommodate a family of five can be challenging. Moving just outside of Manila can give you the freedom of having a big house, a parking lot, and a garden because space is not as scarce.

Better traffic scenario

Manileños are no stranger to traffic jam to the point that it has become an accepted reality. Unfortunately, it has affected productivity, as well as the health of people. Getting out of Manila means being spared from getting stuck in daily traffic.

Job availability

Because there is barely any space left in Manila, businesses are also starting to move out of the city and investing in properties on the outskirts. As businesses come to Manila’s neighboring cities, so do job opportunities.

Are you saying goodbye to Manila soon? You are not alone. Finding the right location and property is key.

Real Estate Selling Guide: Where to Advertise

House for sale

House for saleSelling real estate is not just about deciding on the right price of the property depending on its size, amenities, and location. You also need to consider the kind of homeowners you are targetting. More importantly, if you want to sell the property as soon as possible, you’ll want to get it more exposure. This means advertising it where everyone is looking.

Look for Local Listings

Real estate agents understand the importance of location when selling a property. It’s why they concentrate on a particular area. It’s also why most property listing sites can be filtered by location. It would make sense: if you’re looking for a property in Rockport, you’ll want to see Rockport Properties, Inc. listings, not that of another location. Following this logic, you should advertise your house on pages that concentrate on where it is located, so potential buyers can see it.

Set up an Instagram Account

Instagram is great for advertising visual content. It’s exactly what you need when you want to highlight the features of the house you’re selling. What’s good about Instagram is that you can geotag the posts. When people search for images in Rockport, they will see yours if you’ve set the location properly. There is also the option to use tags, to widen the reach of your post beyond just your followers.

Share in Your Circles

Google Plus and Facebook allow you to have circles, communities, and groups. Sharing the property listing to a group who might be interested in buying can make the task easier. With a shareable link, it’s also easier for them to send it to someone they know who might be looking for a property to buy. Building your connections benefit you in several ways, and this is just one of them.

You don’t need to be a marketing expert to sell a property. Think like your buyers and share your property where you know they’ll be looking.

What a Conveyancing Lawyer Can Do For You

House for sale that has been soldBuying real estate property is one of the biggest investments you can make, so it makes sense that you want the transaction to be as smooth and trouble-free as possible. Many things can go wrong during the process, including those that arise from the validity of the transfer of property ownership.

This is why you should hire the services of a highly qualified and experienced conveyancing lawyer in Townsville. With such a professional on your team, you can have all the complex legalities sorted out for you, including the following:

Title search

A title search is essential in the conveyancing process, as it allows your lawyer to ensure that the real estate you’ll invest in doesn’t have property claims, known as ‘liens’, made on it, or that no other party has a claim or a legal right on it. Ensuring that the title is ‘clean’ is key to a valid transfer of ownership from the seller to the buyer.

Verify no disputes on property boundaries or restrictions exist

A common mistake many property buyers commit is assuming that what they are buying is equivalent to what they thought is the entire property. There are situations wherein boundary- or restriction-related disputes can arise. A conveyancing lawyer will verify that no disputes exist, so you can buy a property in Australia with peace of mind.

Ensure complete transfer of valid and recorded deed

Of course, a conveyancing lawyer ensures that everything about the deed is in order, from its lawful recording and validity to its final transfer to your name. This is crucial, as you do not want problems contesting your claim or hold on the property arising in the future.

A conveyancing lawyer plays major roles in protecting you and your assets during the real estate acquisition process, so be smart and hire one to guide you throughout your purchase.