Archive for the 'Real Estate' Category
May 9th, 2012 -- Posted in Real Estate |
Property investment in the UK has witnessed massive growth over the last decade.
A house bought 10 years ago, would be worth around 300% more today. If you were to look at house price growth over a longer period, youd be amazed by the results. For example, if you had bought a house in 1952, today it would be worth around 90 times more!
At an average growth of 8% per year, a house bought today for 215,000 pounds would be worth in excess of 1 million pounds in 20 yrs! 10 houses bought today for 215,000 pounds each would be worth an unimaginable amount!
Even today, as the market shows some evidence of slowdown, there are pockets of above average growth in certain towns and villages across the country. Its the job of the property investor to hunt out these areas and milk them for all they are worth.
When looking for property to buy in the UK, it is always advisable to do some research before commencing any viewings. Recent statistics on house values in any one particular area, historical data and local trends can help you to build a clear picture of the suitability of any one location for investment purposes.
A common misconception among novice property investors is that you can only really make money in property when house prices are going up in value. In this scenario, you would buy a property for x amount and resell shortly after for x+growth amount, pocketing the difference in value. If the market was flat, your property would still be worth x several months later, i.e. exactly how much you bought it for. When house prices are going down, your property would be worth less several months later, e.g. x-growth.
However, any experienced investor will tell you that you can make money from property investment regardless of whether house prices are increasing, decreasing or whether the market is flat. By buying well below market value, you would safeguard your investment from any short term economic trends that would normally affect your propertys value. You would also gain immediate equity in your property investment.
When deciding to embark on a career in property investment, as with anything else, you need to educate yourself. You can do this by attending seminars, attending courses and meeting others in the same field. Talk to real estate agents, brokers and lenders to gain a good basic understanding of current and future trends in property investments. Furthermore, take advantage of free online courses and material to learn the ins and outs of property investment.
Property investment is not rocket science. By learning and applying just a handful of basic principles, theres no reason why anyone cant benefit from the UK property investment market.
May 7th, 2012 -- Posted in Real Estate |
You are the same today as youll be in five years except for two things,
the books you read and the people you meet – Charlie Jones.
To be successful in property, you need to develop lasting relationships with other people. Whats helped me to succeed in property investment more than anything else, has been the relationships Ive had with other people.
If you want quick growth in property investment, you need to start building a team around you. This is something you need to work on from the outset.
Your team should include solicitors, accountants, financial advisors, estate agents, letting agents, property finders, other property investors, plumbers, electricians, general builders and anyone else who could help you to achieve your goals.
Whenever I am looking for someone to join my team, I will always try to find someone based on referrals. I will ask family and friends if they know of anyone that could me help with my business. I also ask my current contacts.
For example, several years ago I had the need to acquire a new solicitor. Rather than going straight for the yellow pages, I asked my accountant if he knew of any proactive solicitors. He gave me the name of one such solicitor. I contacted her immediately and found her to be one of the best solicitors I have ever known and have retained her since.
If I am unable to find anyone via my existing contacts, I will then search the local directories to source someone close to my offices. I always try to source local, as it will save me a lot of time should I need to go and visit.
When sourcing members of my team via this method, I always interview at least three candidates. My final decision is never based on price alone. I will always choose my advisors based on their knowledge of the subject matter and also any rapport that we build during our first meeting. I will never choose someone who appears to be very knowledgeable but fails to understand my business goals and personality.
Over the years, I have established a great team around me. We work together and have a good respect for each other. I always pay my advisors and workers on time and have a strong respect for them and their services. This works great because I am able to get jobs done quickly and efficiently as my team supports me in my endeavours.
If you are new to property investment, I would advise you to find people that share the same work ethics as yourself to help you grow quickly in your business.
May 5th, 2012 -- Posted in Real Estate |
What makes or breaks an investor? There are entrepreneurs who are seemingly a success overnight while others work their way to the top. Some investors arrive on the investing scene with a big bang only to fizzle away. Other investors work quietly over the span of years keeping their success under wraps. Some investors become wealthy beyond imagination and some don’t do so well.
Is there a formula to being a successful investor? Is there some mapped out guideline for what will make you succeed or at least keep you from failing? The answer is, unfortunately, no. But there are a few traits all good investors tend to have.
To begin, a successful investor is a focused investor. Focus refers to concentrating on the work at hand. Focused investors ask questions like “What do I need to do to be successful,” and “What is changing in the industry that I need to be aware of.” A focused investor isn’t quick to jump the gun or change directions while running at a fast pace. Instead, a focused investor always keeps an eye on the industry. He or she develops a plan of attack and sticks with it. By doing so, the focused investor is proactive and not caught by surprise when something big occurs.
The focused investor knows that in order to make something work, you have to stick to what works best. Diversions and distractions have no effect on focused investors. Instead, they are content to concentrate on what needs to be done. They know they aren’t going to get rich quick, or if they do it is simply a series of fortunate events that made it possible.
Successful investors also avoid poor advice. There is a saying that goes “advice is like armpits, everyone has them and they stink.” What is good for one person may not be good for another. The savvy investor knows poor advice when he hears it and avoids it at all costs. Know one knows what is best for you better than you.
While it is nice to get advice and, with so many people giving it out, it’s easy to come by, that doesn’t mean you have to take it. People of all kinds give advice. Some know what they are talking about and others do not. If someone is giving you advice, ask yourself two questions 1) Is this person a qualified expert in the field they are giving advice in and 2) Is this person as successful as me? In other words, is his or her advice paying off on a personal level?
If you can answer “yes” to both of these questions, it is probably okay to consider the advice you are being given. If not, you may want to think twice before jumping onto someone else’s ship.
You can also detect bad advice by asking yourself how the advice affects your focus. If you have your focus set and someone comes in and tries to shake that up, you know better because they key to success is your focus.
Being a successful investor takes time and work. If you remain focused and disregard bad advice, your even more likely to find yourself at the top.
May 2nd, 2012 -- Posted in Real Estate |
The Republic of Singapore is an island nation situated at the southern tip of the Malay Peninsula. It is around 137 kilometers north of the Equator, south of the Malaysian state of Johor and north of Indonesia’s Riau Islands. Singapore is one of the remaining city-states in the world and the smallest country in Southeast Asia. Singapore holds several accommodation facilities with different amenities.
Apartments have a big place among the accommodation facilities available in Singapore. The decision to rent an apartment in Singapore can be a good decision. If you are planning for a short stay in the vibrant city of Singapore then it is better to go for an apartment rental. By this way you can simply avoid the costs of upkeep associated with the apartment.
Some times it is very difficult to make an apartment feel like home. This thing will be true if your apartment owner is very stern about the type of decorations you can do within your apartment. There are some simple tricks to make your apartments feel like home. The first way to make this possible is to make the larger rooms in the apartment to smaller ones. This can be done by the help of folding screen which is available in the market. You can easily buy a folding screen which has your favorite display printed on it. If your mind is creative then you can buy old door and then decorate it with wallpaper and other decorative.
You can also provide a personal touch to your apartment by changing the basic knobs of the cabinets in the apartments with something decorative and suites your personal style. You can also change the entire cabinet door to make the cabinet more attractive. There is no provision to rip out the carpet and repaint the walls of your rented apartment, but you can make some changes to the look of the walls by attaching flat sheets or you can even create wall forms to fit snuggly against your walls. For changing the look of floors you can simply create your own rug using carpet samples.
There are several things that you can do to make your rented apartment in Singapore more beautiful. You can create a new look in your bathroom by attaching a fabric skirt around the wall mounted bathroom sink. Artworks and plants can be placed in the apartment to increase its beauty. You can hang lightweight picture on the walls without making holes in the wall. If you are person with little imagination and creativity then you can make your rented apartment in Singapore a vibrant home.
Some people believe that the life in an apartment is the recipe for living. According to experts “Time to enjoy family & friends” make the people happy. So the noticeable conclusion from all this is that apartment residents are happier than all other people who are staying in other places. Most of the people around the world like to rent an apartment than buying a home. The first and most important reason to live in an apartment is that there is no yard to mow.
In an apartment you will never have to pull weeds, worry about taking care of fire ant problem misuse water on the lawn to remain your grass green. Freedom in the apartment is the next important factor that attracts most of the people towards apartments. You can move anywhere at the end of the lease with the apartment owner without any legal barrier.
In apartments in Singapore you will get the facilities which are available in a star hotel in Singapore. You can use pool and deck areas at any time of the day without the tension about up-keeping.
Now-a-days renting an apartment in Singapore is much cheaper than ever before. If your are staying in your house then you have to take care of toilet breaks, refrigerator runs, door falls off it’s hinges, sink leaks, develop a pest problem, or any number of the possible things that can happen. In an apartment you can simply inform the management whenever you face a situation like above. They will take necessary steps and make the things in order at the earliest. Most of the apartments in Singapore hold fitness centers. This facility is free to use for those who are staying in the apartment complex.
April 28th, 2012 -- Posted in Real Estate |
Forced appreciation has often been compared to printing money. In apartment investing, taking a few simple steps this will give you the ability to increase the commercial real estate rents.
Forced appreciation is often as simple as new landscaping for your investment, or adding amenities and services such as cable or wireless Internet service. They are simple steps that are not overly expensive, but that give you the ability to raise rents higher than the past owner was able to get for the property. You can also offer premium suites to discerning tenants. This may have an initial cost for refurbishing, but it will also allow you to rent them at a much increased price. These simple ways allow you to use your property management to create a better environment for your apartment investing, giving it an advantage and creating an increase in income.
You also have the option to impose and enforce late fees on any non-paid rents by tenants if they aren’t paid by the date specified when the lease was signed.
There are other income opportunities in apartment building investing or property management such as parking and garage rentals, laundry facilities, storage, vending machines with candy, soda, or soap powder; pay phones and video machines in the laundry facility. By adding amenities such as these, the property is more convenient for the tenant, and it also creates some extra income from the building. It may also make the building more attractive to potential tenants that come to see a unit.
In every apartment building there are pet lovers who are willing to pay extra for their pets. Allow pets at premium rents and charge pet fees for each pet. Adding cellular towers, billboards and gift shops to the property will also earn you extra income in your apartment investing.
Decreasing expenses is another way to get money out of your property. These expenses include property tax, utilities, maintenance, management efficiencies and insurance. These expanses can all be passed on to the tenants. It is always wise in commercial real estate to decrease what expenditures you are able, as this increases your income and makes the property management job easier.
Also, make every attempt to decrease vacancy. Less vacancies means more rental income, getting the best result with your commercial property management. Move-in specials are one way the property management can keep the rental units filled. Gross leases, tenant referrals and increasing advertising are just some of the ways to bring in more potential tenants and keep vacancies at bay. Just like any other business, apartment building investing requires needs proper advertising. But, it may be the extra amenities that entice potential tenants.
April 26th, 2012 -- Posted in Real Estate |
Your ability to find motivated sellers is one of the keys to becoming a successful Real Estate Entrepreneur. What is the definition of a motivated seller?
A motivated seller is someone that needs to sell. You won half of the battle when you understand that there is a big distinction between someone wanting to sell a property versus someone that needs to sell a property. One is a suspect and the other is a prospect.
Someone who just wants to sell a property is usually expecting a buyer to pay retail prices and if they get it fine and if they don’t it’s no big deal.
Now a motivated seller on the other hand has to get the rid of that property by any means necessary, they are looking for a solution to their immediate problem which is the house that they need to get rid of and if you the Real Estate Entrepreneur comes up with a workable solution, their house becomes yours at a bargain price.
What are some of the circumstances that make owners of real estate motivated sellers?
Job relocation. Millions of families travel to new cities and towns when companies shuffle their employees between different locations. This makes selling real estate a top priority for the moving family.
Job termination. Although no one likes to think about it, millions of people lose their job, which puts their finances at risk and can often lead to selling real estate to move to a more economical alternative.
Death in the family. Real estate may be given to one or several family members by a relative who has passed away. If the family already own real estate, then one of the two properties is often sold.
Bankruptcy. When someone is completely down on their luck, often the money invested in their real estate is the only money they have access to so they must sell quickly.
Maintenance woes. After acquiring several properties and buildings in different areas such as a home in the city, a rental property, and a cottage, some people may decide it is too much work to maintain them all and want to sell one of them.
Divorce. People sometimes split up which changes the economic dynamics of their situation. Instead of there being two people sharing a mortgage you now have in most cases one sole person paying the entire mortgage. This creates a financial strain on them and puts the real estate investor in the perfect situation to present the perfect solution called debt relief.
In conclusion, your success as Real Estate Entrepreneur will be determined by your ability to find and locate motivated sellers so that you can present your offers and close deals.
April 24th, 2012 -- Posted in Real Estate |
The number of real estate agents using call capture systems continues to grow. Agents are seeing the benefits of its power to generate leads, track their advertising, and increase their efficiency. Just like any technology, the ability to get it to work for you lies largely in your application and use of it. Take two agents side by side, both using call capture, and you may very likely see two very different results. One may be reaping its benefits hand over fist while the other may not even be recouping their costs for their system. There may be little difference in the way they are using their system, but in marketing the little things can mean so much. Here are just 3 little tips to help you get the most from your call capture system.
The recordings on your call capture system are going to be a very important aspect of converting your prospects to clients. Make the recordings in your system yourself. Research shows that if the voice that the caller hears on the recordings, whether it is your main greeting or a property listing, is the same voice that answers the phone, you will dramatically increase your conversion rate. By making the recordings yourself you are letting your callers know that you personally are going to be the one taking care of business. It is a personal touch and such a little thing that will make a big difference in the successful use of your call capture system.
Next, take advantage of the call forwarding feature that should be included with your system. I have heard of some agents letting people go to voicemail so they can call them back or including their cell phone number in their recording and asking the person to call them there. Remember, 74% of people are going to do business with the first agent they talk to. Don’t you want to make it as easy as possible for them to talk to you? People are put off by having to leave a message and then wait for that return call or worse have to copy down another number, hang up, and dial again. Spend a little extra money on the forwarded call and you will make it up on the increased number of clients.
Most call capture systems include a way to track your advertising by using different extensions. Use them! There is no better way to maximize the return on your advertising investments than finding out what works and sticking to it. If you don’t have a way of tracking where your most qualified leads are coming from, you are surely wasting a lot of time and money. Your call capture system has a built in, easy to use, sure fire way of telling you what is working and what is not. It will only take a little extra effort on your part to incorporate your toll free number into all the advertising you do so that you can track your responses.
The call capture systems available to real estate agents today have all the features needed to generate leads, track advertising, help the agent work more efficiently, and ultimately be more successful. However, the technology on its own is nothing until we apply it and use it to its fullest extent. In marketing and business it is many times the little things that can mean the most. So make sure that you pay attention to those little things to get the most from your call capture system.
April 21st, 2012 -- Posted in Real Estate |
The overwhelming craze for real estate investing has led to the increase in the interest in the realty business. It is regarded as one of the most profitable ventures, but you need to use proper business strategies. This requires brilliant planning and the timely execution of the same. In addition, it also calls for substantial amount of knowledge about the basics of the market. To earn profit in real estate is not an easy task and needs to focus on several aspects such as customer needs, vision to forecast long term business options and teamwork.
Some of the main elements working for a real estate venture include the following:
. Mentor: In order to be successful in a real estate, it is important to have a good mentor or a guide. He helps not as a teacher but as a watchful eye that does not let you take a wrong step in decision making. A mentor needs to be a very knowledgeable and experienced person, of course smarter than amateur realty investors.
. Mortgage broker: You can also consult a mortgage broker to guide you in your real estate venture as he would certainly be someone with good experience of working with a number of investors. It is important to choose a creative and smart mortgage broker.
. Real estate attorney: It helps to have a person in the team who can go through all the contracts and knows the basic as well as major legalities of all your moves. A real estate attorney is considered to be one of the most essential members of a team venturing into the realty scene.
. Title Rep or an Escrow officer: Having an efficient title rep or an escrow officer is considered to be a plus point for the team. It helps the team to close deals much quickly.
. Accountant: An accountant is a very important member of the real estate investing team. He should preferably be a CPA (Certified Public Accountant). An accountant should also need to be aware of the ins and outs of realty business. He becomes a very crucial part of the team as soon as the dates for filing an income tax approaches. He becomes one of the most crucial people, when wading through write-offs.
. Insurance agent: It is essential to have an insurance agent who can look out, when everything blows out of proportion. An insurance person can be a lifesaver for you and the company.
. Contractor: Though a contractor may be the most difficult one to find, but he often tends to make or break your probable profit margin. He should be someone who can get things done on time and well within your budget. Once you find an efficient contractor, you can expect your venture to earn huge profits, provided other things are also in place.
. Supportive friends and family members: Helpful family members and friends offer great support and enable you to earn good fortune in realty business. This multiplies the chances of getting additional clients and strengthens your morale at times when you feel low.
April 15th, 2012 -- Posted in Real Estate |
How do you currently generate real estate leads? Do you farm neighborhoods, publish a newsletter, have a lead generating realtor web site? Well, no matter how you get them I’m willing to wager two things;
1. They’re not so easy to get, and
2. You can always use more
While you struggle with trying to fill your leads pipeline, you can probably think of at least one agent who makes prospecting for leads seem like child’s play. But what is it exactly that they do so efficiently that you are not?
Of course the answer depends on lots of things, but let’s draw some ideas from an agent I know who worked with a builder of kiddie condos who did quite well at it.
Let’s call her Evette, which is not her real name, but it allows me to personalize the story in a way that you’ll be able to relate to.
Evette was a spark plug dynamo; full of energy, self driven and highly successful at what she did. And what she did best was market and sell lots of student housing units- mostly condos from what I could tell.
Hers was a 5 step process
1. She’d find raw land for her builder developer to purchase and develop
2. Try to set up partnerships with the seller of the raw land and her developer to offset the developers out of pocket costs while gaining controlling interest of the land
3. Would then list for sale all of the units the developer built as a result of the partnership
4. Then be positioned to resell the units when the students gradutaed from college and moved out of the area and
5. In some instances would be positioned to also get referrals to out of town agents for the relocating students.
As you can see, Evette had it going on. So, when I say meeting and working with Evette was a career changing experience you’ll know what I mean.
My attitude was the first thing that changed. I got over being paralyzed with awe by doctors, lawyers, judges, dentists and other high income earning professionals.
Initially, I felt inadequate when it came to marketing real estate to them. I just didn’t think I knew enough about real estate in general to come off as a competent professional.
But you know what? It turned out I knew more than all of them, and more than I needed to know to help them with their real estate needs.
I went on to find doctors, dentists, college professors, judges, insurance agents and garden variety investors to work with and had some mutually beneficial relationships for many years.
So, what does this mean for you? Actually, there are several things to take from this article.
If you’re not marketing to people with money you should. Some agents self sabotage by not aggressively pursuing leads with the financial wherewithal to buy real estate.
Instead, they market to folk who can barely qualify for mortgage loans and/or who have related and other difficulties to overcome before they can qualify at all.
Don’t let that be you – anymore.
Another thing to learn from this article is that one lead can multiply into 3 to 4 different income generating opportunities.
So, no matter how insignificant a client might appear to be treat them all equally well.
You never know when they might refer a friend or acquaintance to you, or ask you to help them purchase some investment properties, or seek you out to help them sell the first property you sold to them and help them buy another one.
It’s a well worn cliche’, but it’s true; there’s no shortage of real estate leads for agents. You just have to know how to spot them.
April 3rd, 2012 -- Posted in Real Estate |
Various kinds of properties can be rented out. You will need it for residential or official purposes. Then you have other rentals such as for storages and so on. No matter what kind of rental you are looking at, you will need to do some research. Some of the property owners will be away and there will be caretakers who are looking after the needful.
You will have to cultivate a knowledge of the current property rates. They will differ from area to area. Thus, you will have to do a great deal of looking around. You will need to keep all the rates in mind at all times. In this way, you will know best and will not need to look to someone else for advice.
The rentals will naturally differ with the types of properties that are available. This will be the most important factor, especially for residential purposes.
Now, if you want to find a good property, you need to find an agent. There will be plenty of agents in the area. But there will also be the need to choose the right agent. You will have to use the ones who do not hike up the prices according to their whims and fancies. But look out for agents who charge reasonable amounts.
Some real estate agents may not be very reasonable with what they charge. They may try to con you into paying them more on the pretext of signing up good property for you. Stay away from such agents. Try and make use of only the more reputed ones. You can get one through your friends as well as family members, as they will know trustworthy ones.
Remember to also plan out your budget in great detail. You should not be too extravagant if you have some savings. You should try and ensure that you will be able to shell out only so much as rent every month. You should insist on meeting the property owner. I am sure you would not want to end up with a fake deal.
Reading every clause of the agreement will be important, when you are signing up any property for rent. If you do not do so, you may be in trouble if you are not pleased with some of the terms during the duration of the lease.
Remember that finding the perfect place will also be rather time consuming. This is unless you know someone who can help you personally. These days, more and more people have taken to looking for property on the Internet. The Internet offers you plenty of options. You will be able to get all the latest updates. You will have all the categories online. So you need not look anywhere else either. This will be ideal for people who do not have time to look around.
Searching through the Internet will also be very easy. After all, everybody is net-savvy these days. Moreover, you will have listings with pictures. Thus, in a way, you will be looking through a range of options from the comforts of your home.
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