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Good Property Portfolio For Your Real Estate Business Expansion

Good Property Portfolio For Your Real Estate Business Expansion

Being a property investor, you should know how essential it is to have a property portfolio. This can be your tool to gather more contacts and potential property buyers. With all the good information that you have in your portfolio, your clients will have no reason why they shouldn’t buy or rent your property.

Once you have a detailed and accurate property portfolio, you will be ahead over your competitors. If you want to expand your property list in your portfolio, it is a must that you have huge capital for investing. Aside from your personal savings, you can also go for other capital options like borrowing money from friends, getting credit cards with minimal interest rate or by going for a mortgage property loan. You can choose which ones will work for you.

If you want to expand your real estate investment, you can buy properties in different areas of the world with good and profitable properties like in UK. Also, it’s important to expand your target market. You can go for properties that will be catered to students, to nurses, to teachers and to other professionals.

If you will develop your real estate portfolio, make sure to provide specific and accurate details about the property that you own. You have to put there the building type in your property, if it’s fully furnished or not, and what are the other amenities that your clients can enjoy in your property to ensure their comfort and proper accommodation.

The place where the property is located is also very vital in this business. You must be sure that the property is located near the church, market, school, offices and other establishments that can be very helpful to your clients. You must provide them with a guarantee that they can live an easy and convenient life. If you have all of these information in your portfolio, your clients will be delighted to stay in your property.

The tips above are just the basic information that you can have in your property portfolio. You can make it more enticing by adding other important and attractive information to encourage your clients to visit and stay in your property.…

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Ways of Acquiring Foreclosures Homes For Sale

Ways of Acquiring Foreclosures Homes For Sale

Several options are available to buyers of foreclosures homes for sale. A buyer should decide whether to acquire a property from an auction, negotiate with a bank on an REO purchase or deal directly with the home owner to buy a particular house. In all types of transactions, understanding the pros and cons of each is important to make sure that the buyer gets the best deal that he can possibly get.

Why Go Through Auction Bidding?

Buying a house from an auction offers the advantage of a quick, no-nonsense acquisition. The moment the buyer is declared the winner, he will have no reason to fear that other offers, even better ones, will be entertained. As long as he can close the transaction at the predetermined closing date, he will have no trouble taking over the property.

The negative side of auction is that a lot of cash is needed before a buyer can even join the bidding war at the auction house. Some states require the full maximum bid amount before they even allow a buyer to bid on any of the foreclosures homes for sale, while other areas only require the down payment or ten percent of the full purchase price. In both cases, cash or cashier’s checks are the only accepted modes of payment.

Are REO Deals for You?

Buying a real estate owned house or a bank foreclosure offers the benefit of dealing directly with the bank that owns the property. Transactions are usually straightforward and secure in such a way that REO properties do not carry liens or unpaid obligations left by previous owners.

One of the negatives is the possibility of getting a house that requires a lot of money to repair. That is why REO buyers are advised to conduct a thorough inspection of the properties prior to making an offer. Another negative is that bank transactions can take weeks or even months to complete. This means that buyers of foreclosures homes for sale by banks will not be able to move in immediately and must wait for a certain period of time before they can legally claim the property as their own.…

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Real Estate Market Two Ways

Real Estate Market Two Ways

Every home search is not created equally. Each search will involve at least two of the three known players in real estate. They are the seller, the lender, and the buyer. Their levels of involvement focus on clear ownership and achievement of their best price. These individuals or entities are only limited by their amount of leverage in the sale. This is further clarified by the two states of the real estate market. On one hand, leverage can be in the seller’s hands during a period classified as a seller’s market. The sellers are able to, within range of other competitive homes, set their home’s value according to its size (lot and usable square feet), how much they paid for it, and how much they’ve invested in it.

On the other hand, leverage can be in the buyer’s hands during a period classified as a buyer’s market. This is when buyers inadvertently drive down prices when they are focusing on lower priced homes and letting expensive homes sit on the market until sellers have to readjust their asking price. Sellers know that the longer a house is on the market, the less attractive it is to buyers and the less attention it will receive. So sellers typically like it when they are in control of the negotiations in real estate. But, buyers have their turn at the wheel in the housing market. That is to say, when the economy is in recovery, as it is today, the value of homes have plummeted in some areas so homeowners can no longer justify high asking prices. Property value plummets collectively in the housing marking. And buyers are getting into their dream homes at rock bottom prices these days.

The real estate market, however, remains competitive because of the diversity in the effects of the current economy, amongst other factors. There are some individuals and families who have sustained their incomes, their credit, and their investments. As sellers, they can wait for the market to improve in their favor before selling a home. As buyers, they can take their time searching for their ideal lot size, landscape, and home layout. They can do this because they have the down payment and credit availability to make the purchase of their intentions and not of the state of the market. That is the nature of real estate, respective to but during any state of the economy.…

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History of Bay Harbor Islands

History of Bay Harbor Islands

One might be surprised at the origin of the Bay Harbor Islands. Did you know that the beautiful island was once a sand-bar in Biscayne Bay? Shepard Broad was the mastermind of the Town of Bay Harbor Islands. He came here in 1920 from Russia at the tender age of 14. Broad bought two swamp islands in 1945 that were located in the middle of the beach’s barrier island and North Miami. At the time, no one could imagine what these swamp lands would become. But, Shepard Broad had an idea and a mission for the islands. He would not let the idea go because he knew how wonderful the islands could be if just a little time and effort would be given to them.

Broad used his own money to fill in the islands. He also used down payments from the sale of the lots to help bring Bay Harbor to life. Later he joined with Benjamin Kane as a joint venture to continue growing the area. The main street through town is named after Benjamin Kane. It’s interesting that Broad does not have a street named after him even though it was his original idea to form the islands.

Two years later, Bay Harbor Island was incorporated as a town and the rest is history. Broad knew that he could do so much more with the sand-bar that he purchased for a small amount. Little did he know that it would turn into the beautiful town that we see today. The first building permit was approved until 1947. Four years later the town had 550 citizens and 46 homes. Most of the people who moved there were looking to find something new. They didn’t mind taking the chance on a new opportunity and got a good price along the way.

Today that number is a staggering 5,100. The west portion of the island continues to be only single family homes. East Island contains multiple family dwellings and a small business district. The business district houses most of the items needed for the residents, but there became a need to have a connection to Miami that wasn’t via boat. The island is now joined to the northern part of Dade County by the Broad Causeway that began in 1951.

Shepard Broad continued to live in his home on Bay Harbor Islands until his death in 2001. He was 95 years of age.…

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Pluses and Minuses Involved In Buying A HUD Owned Home

Pluses and Minuses Involved In Buying A HUD Owned Home

You must fully understand these in order to be capable of making an appropriate selection for you personally.

Positives: Points In Favor Of buying a HUD Home

1. A property condition report is provided for you.

All HUD Homes come with a property condition report (PCR). These inspection reports are good for 6 months and are provided by an FHA approved inspector designated by the Marketing & Management company assigned to your state.

2. Appraisals

Another good basis for buying a HUD is the appraisals are provided for you and are good for 6 months. This offers the extra benefit when using an FHA approved loan as the lender is required to use this FHA appraisal so long as it is not older than 6 months. This eliminates incurring the additional cost of an appraisal that most lender require. One that you, the buyer, has to pay for.

3. HUD will pay up to 3% of purchase price towards buyers closing costs.

With all loans there will be closing costs.. Knowing HUD will allocate these funds to your closing is important since most buyers purchasing a HoH are typically first time home buyers and may not be aware of this.. If you take this into consideration, then it makes sense to buy.

The points above show some of the positive aspects of buying a HUD. There is also a negative side. Let me go over a few of the downsides.

Potential Drawbacks When Buying

1. Your agent may not be authorized by HUD as an Approved Agent/Broker.

Whenever you are buying, it is important that your agent is a an approved agent/broker. Most agents are not authorized as an approved agent/broker. Choosing an inexperienced agent is undoubtedly a bad thing. It could be the main reason you are unable to get your offer accepted by the Department of Housing and Urban Development.

2. Simple Contracts Can Be Difficult If Your Agent Isn’t Experienced

Department of Housing and Urban Development has an entirely different contract package. Most agents do not know this. The state specific forms mandated by your state are not applicable.

3. In most cases, NO COUNTER OFFERS.

The last reason may want to avoid buying a HUD owned home is in most cases, Department of Housing and Urban Development does not make counter offers.. I strongly advise you to think about this factor seriously. If your agent is unaware of this then he/she may make an offer that is far too low to keep your offer in contention if you opt to buy from the Department of Housing and Urban Development.

So that’s that. There are the actual advantages and disadvantages of buying a HUD. So it isn’t what everyone wants and requires. But it really will suit and help many. You should now take into account the points made above and choose if it’s best for you. The info presented should certainly help you to be well prepared to make the best decision.…

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Property Investors and Investment Opportunities

Property Investors and Investment Opportunities

The most successful property investors who were able to generate wealth made cautious investment decisions. Whether you’re a new investor or an experienced one, you will surely benefit from informed decisions and this is only possible when you do you share of hard work. There are many tools for you out there that you can use like real estate websites and property magazines.

Seeking professional help can also be a great option because they know the basic concepts of property investment. When you are in the business, you should know about rental growth, capital growth, and many other concepts. Among the most popular properties today is the buy to let properties. These are the properties that are held for an extended period, around 10 to 30 years. During that time, the property will be rented out to tenants. The rental income will be able to cover the mortgage payments every month and over time, the property will also appreciate. After several years, you can hold the property or you can sell it to make profits.

Aside from buy to lets, there are also other investment opportunities that await investors like you. You can purchase commercial properties. These are the properties that are intended for service stations, shopping malls, office complexes, restaurants, and other establishments. Your primary clients would be private investors who want to make profits through businesses.

Many property investors today are also involved in flipping properties. When you flip properties, the first thing that you will need to do is to find a property that is priced low. After a short time, you can sell the property for a much higher price. There are unscrupulous investors out there who intentionally provide the wrong information about a certain property just to make huge profits. Make sure that you don’t follow their footsteps because there is a legal way to flip properties.

There are ways to make money in the real estate business for the short and long term. The decision is now yours whether you will concentrate in buying and selling properties or you will hold them for the long term and become a landlord. Either way, you must use the right strategies to make profits.

With the improvement of the economy, many property investors are now looking for new properties that will allow them to earn huge profits. Try to increase your knowledge about the basic concepts of real estate investing and you are sure to succeed.…

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5 Practical Tips to Help Anyone Wholesaling Real Estate Improve Their Business

5 Practical Tips to Help Anyone Wholesaling Real Estate Improve Their Business

Follow up System – Cleanliness is Godliness, right? Same goes for your work space. You will want to have a filing cabinet divided into 12 sections. Each section should have 31 folders in it. The sections represent one of the 12 months and each folder will be numbered 1-31 for each day within a month. Once you have scheduled an appointment with a seller, take your lead sheet and place it in its appropriate date. Everyday check your folders to see what your next day looks like and to confirm your appointment.

Get Assistant/Partner – Get someone to help you! You can go to the local college and post and ad for an internship. To do this you will have to get permission from the college job board. You may also post an ad in Craigslist, but you will get flooded with responses. Too many people who fail work alone so get a partner and split responsibilities. This partner should be someone who wants the same you do and can work alone.

Get Maps – Buy a map of your city, town, or farm area. Make sure you circle which areas you want to target and outline them. Once you know what your area looks like, go to a maps website and split your area into 8 parts. The reason for this will be to systemize your bandit sign campaigns. You will hit up each area once every 8 weeks. Maps will be vital in organizing your guerrilla marketing campaigns. Universalmap-dot-com is a great place to start looking for city maps

Have Capital – Although wholesaling real estate takes little to no money down, but starting any marketing campaign will take a few hundred dollars in order to achieve any kind of result. If you just want to post bandit signs you can get 50 blank yellow signs for around $75 on eBay. This does not include the cost of staple gun, staples, and time to put them up. If you have no capital, you will be putting in a lot of man hours upfront until you get a deal done. Any bandit campaign should be accompanied by a direct mailing campaign. Having at least $1,000 a month to spend on marketing is essential on getting your wholesaling business of the ground.

Start Online Marketing – Five years ago only teenagers and college students were going to social networking sites. Today social media is creating a revolution in the way marketing used to be done. If you currently have a page on Facebook, don’t get a new one, just add a business page, gear it towards wholesaling in your city/area and ask people join this group. You will find people eager to join you who are already members in other real estate groups. Also, when you network, make sure you try to find everyone’s page that you’ve met and add them to your network.…