In searching for an investment that will be profitable in terms of time and money spent, there is not better place to invest your money than the world of real estate. There are several veins of investing open to an interested party, but the one that is most likely to catch people’s eye is a fix ‘n’ flip. All you have to do is turn on the television to see the popularity of this style of investment. It seems to be the latest rage for reality television and there are numerous shows that will detail the finer points of flipping real estate. However there are some basics that you can remember before you start the research.
The most important thing to remember in flipping homes is that you have to plan your finances extremely carefully. Be sure to estimate and verify how much your renovations are going to cost and plan accordingly. Many people have renovated homes expecting to get a handsome price for the newly finished home only to realize that the market does not support their new asking price. This is why every step must be planned. Know the market you are buying into, and how much homes are selling for in your neighborhood. If most homes in the area are selling for $200,000 then an asking price of $400,000 may be unreasonable. The last thing you want is for your home to sit on the market and having to reduce the price to garner interest.
To create some excitement for your project remember a few things. New and modern kitchens and bathrooms are huge selling features for homes. Highlighting these areas will help your home to catch the eyes of discerning buyers. Also, make sure that in renovating the home you spend an appropriate amount of time seeing to the homes exterior as well. You could have the most beautiful custom interior and it might go unnoticed if the outside of the home is not attractive enough to draw buyers in. Your home project must be a total package, all areas clean and shining. All appliances up to date and in good order, the yard clean; with a curb appeal that cannot be denied. If you take the time to see that these things are dealt with properly, the sale of your investment will be much smoother.
If anyone is going to start any industry then one of the daunting tasks for them is to search for the proper place for industrial. But, these days it becomes easy to search for industrial space because lots of spaces are readily available. If you are looking for Industrial space for rent montreal then it becomes extremely easy for you with Luger Group which is one of the leading Quebec’s premiere real estate development and management companies. The company has more than three million square feet of industrial and commercial space across the island of Montreal, Laval and the South Shore. The company helps you to find industrial space for which you are looking and it also fits in your budget.
This company understands your need very clearly so you don’t have to bother about the desirable place because company has huge experience so it helps you as per your need. You have to done lots of efforts and hard work to get best Industrial space montreal. The Luger Group’s helps you to search best as well as outstanding space for your industry no matter whether you want small or large industrial space. The company’s huge collection of buildings, offices for rent, commercial spaces, and Industrial space for lease can meet your real estate and business needs. The main goal of the company is to develop last forever working relationship with its customers by offering them huge comprehensive services including leases, property maintenance and management.
The company has completely amazing industrial office space montreal for you that suits your choice and needs also. The Luger Group also maintains an inclusive listing of industrial space for rent, with both short as well as with long term leases obtainable. On this website, you are able to search properties by type and area and it helps you to continue conversant about the very best industrial, retail and office space for rent. The company updated its listing regularly so that you get fresh and true information about industrial space. You will also get complete information for Industrial space for lease montreal on the official website of the company.
The company is most popular for offering best and unique industrial space and the company also has the flexibility to meet all its clients’ needs which is extremely important. So, if you are looking for the Industrial space for rent montreal then explore the official website and get lots of information.
Dealing with time wasters will probably drive you out of the real estate investing business so here’s a formula to pre-screen sellers quickly. It’s called the MARLA formula and it consists of 5 magic questions. Here’s what the MARLA acronym stand for: Motivation, ARV (after repair value), Repairs, Loan balance, and Asking price. These are the 5 magic questions:
1. Why do you want to sell your house?
2. How much is the house worth?
3. Does the property need and fixing up?
4. What is/are the principal amount(s) of your mortgage(s)?
5. What is your asking price? Follow-up: Is that your bottom line?
Now that you know that questions, let’s look at why you’re asking them.
The first question reveals the seller’s MOTIVATION. The best case would be if the answer indicates a high level of motivation to sell the house quickly. Most sellers will not be motivated and if that’s the case with the seller you’re speaking to, then it’s your decision whether to ask more questions. You’ve got them on the phone so you might as well ask and make an offer. Sometimes sellers will hide pertinent facts until you warm them up. Then they’ll reveal their motivation so don’t give up too quickly but don’t try to squeeze water out of a rock either.
“How much is the house worth?” gives an indication of the home’s market value. Most sellers have some idea of how much their house is worth. Of course you should do your own due diligence before actually buying the house, but for now you can just go with what the seller says. If the seller doesn’t know what the house is worth, you may be able to get a good deal. Ignorance is expensive.
You’ll need to know what repairs the home needs to put it in good sellable condition. That’s the point of the third question. Make a list of the repairs that need to be done, if any. Ask the seller for a repair estimate. It’s common for seller to provide a high estimate which will work in your favor.
You’ll get information on the existing mortgage from the fourth question. Motivated sellers won’t hesitate to tell you so don’t be timid, just ask. This is an excellent question because unmotivated seller will not want to reveal this information. That’s great. You’ve saved yourself time by quickly eliminating an unnmotivated seller which frees you up to move on to the next seller.
The final question gives you the seller’s asking price. It’s a good idea to ask a quick follow-up question to see if the seller is being truthful. It’s amazing how quickly sellers will drop their asking price by thousands of dollars in seconds.
It’s possible you’ll have enough information to make any offer at this point. At the very least you’ll know if you’re dealing with a motivated seller or not. The next could be a few strategic follow-up questions or formulating an offer which is the subject of another article.
Government-Approved Real Estate Forms
- Every state and province in North America has officially approved real estate forms available online for no cost. They are usually found on the real estate commission website for that jurisdiction. Some states make it easier to find the forms on their site than others, but with a little probing you can find them. Many of the forms are now available in writable pdf format, which makes it easy to complete and print the contract.
Customizing Purchase Agreements
- A purchase contract can be modified with additional clauses or contingencies you wish to include, so even if you are using a state-approved purchase contract, it can be adapted to your exact intent. If there is not enough space in the additional provisions section of the contract, you can attach an addendum. If the provisions of your purchase contract are complicated, you may want to hire an attorney to write it.
Using Non-Approved Purchase Contracts
- Real estate experts pitching certain investment strategies may provide purchase contracts with creative financing proposals included. Be careful that you fully understand the implications of such a contact before using it. The state-approved forms will provide the most protection in your jurisdiction, but if you chose to use a generic purchase agreement template, read through it carefully. If you are a licensed real estate agent or broker, you should always use the officially sanctioned forms.
Other Sources for Free Sales Agreements
- A friendly real estate agent or title company can provide you with a purchase contract and other forms you may need to complete a real estate transaction. But unless you are willing to reciprocate with future business, a referral or some other form of compensation, they may not be willing to cooperate.
Like a lot of us you have probably watched all those television shows about making loads of money by flipping houses. Flipping houses is when you buy a house, do it up and then sell it quickly, making a tidy profit in a very short time. So does it work, can you make it work or is it a world of pain waiting to happen?
If you are entering into the world of real estate investing and want to flip houses then there are a few pros and cons that you should carefully consider before you start. Just like any other business there are a few things you have to be careful about.
First the Pros
– Potential profits are large and can be obtained quite quickly if the housing market is a seller’s market. You can make in a few months what you usually make in an entire year. The flippers income can be very large if you set up a successful house flipping team.
– You are your own boss. Obviously you need to keep within the law and there are some strict zoning ordinances and code requirements that you have to adhere to. Then there are building regulations to follow. These aside, you do get to have a great deal of control over all the decisions that need to be made.
– You are what you produce. It is a very hands on business, there is a lot of manual work, unless you want to outsource everything of course (see bullet point above). You have almost total control over. It is your heart, blood, sweat, tears and soul that make the property what it is. When you sell you get the value of all these things that you have invested into it. Nothing gives back like a successful house flip.
Now the Cons
– Risk. Flipping a house can be a risky business if you do not have a good plan to follow, this can be applied to any businesses. There is a skill to successfully developing real estate and then flipping it. There are a wide variety of things that can go wrong during a flip and the volatility of the housing market is the biggest one. You must be prepared to walk away from a flip with less than you expected and even zero in some cases. You just need the resilience to move on to the next one. This is just the same as if you invested in stocks, but pulling out of a house flip is much more difficult. A half developed house is worth little so you need the resilience to see things through to the finish once you begin flipping a house.
– Expenses. There is no way out of it, it is expensive to flip a house. There are legal fees, Realtor fees and remodeling fees. You are going to have to pay your mortgage while you are trying to sell. Your contractors will want to be paid before you sell the house. It takes careful planning and due diligence as well as financial planning and resources to afford to flip a house. The rewards of this significant investment are usually well worth the effort.
Despite all these pros and cons – the later you can manage with knowledge and planning – people all around the world, embark on their first house flipping adventure, almost every day. The lure of large rewards often outweighs the need for caution and prudence. For many their efforts will overcome the risks and the expense.
Are you ready to take the plunge? Have you decided to get your power tools out of the garage? If you want to start on the adventure that is house flipping, I wish you the best of luck – but you won’t need it!
Market analysts say the recession has officially ended. However, they also believe that effects of that economic battering will still be felt by the country for months or even years to come. That has left some people asking: is it advisable to start investing in real estate right after the recession? You will be surprised with the answer.
Actually, investing in real estate today is a splendid idea. You may not believe it, but for many reasons, this is the kind of investment that will bring you profits. Here are a few of the reasons why you should inject your money into real estate today.
You can buy more real estate properties for less today. Since the economy has just come out of a slump, property prices have yet to fully recover. They are relatively lower at the moment. That means that your savings might buy you a house today. Seriously. Today presents an opportunity for you to purchase properties for pennies on the dollar. Thats value for your money. If youre a first-time home buyer, now is the right time to realize that American Dream of home ownership. If you are an investor, this is your chance to buy a property you can hold on to for now and sell for a profit in the future.
Another reason is that you have the choices of real estate. Various kinds of affordable properties are now selling across the country. The recession has led to an increase in the number of properties repossessed by banks. These are known as REOs or real estate owned properties. REOs are decent enough to become your first home. A lot of mortgage payers are also considering letting go of their property because of the tougher times. Fixer upper homes, also known as handyman specials, are very economical. These are properties that need repair and are a prime commodity for rehabbers and wholesalers.
Reason No. 4 is there are methods of investing in real estate that thrive today. Short-term methods of investing like wholesaling and rehabbing are a hit business today. Because there are thousands of available cheap properties, wholesalers and rehabbers are taking advantage of the opportunity. Wholesaling is quickly buying and selling a property for a profit while rehabbing is repairing the property before it is sold.
We Provide full service real estate brokerage with offices in Salt Lake City . paul have a large team of experienced Realtors who have sold millions of dollars of real estate from luxury homes to mobile homes. If you’re looking to relocate or sell, our team of agents can help you with any type of real estate transaction.
Mysore, the second largest city of Karnataka, is located in the vicinity of India’s IT hub, Bangalore or Bengaluru. It is barely 140 kilometres from the capital city, Bangalore and is widely known for its festivities during the festival of Dusshera. Mysore is fast emerging as the next most preferred IT destination after Bangalore due to the congestion and resulting saturation of the country’s IT hub.
In order to support the growth bandwagon of IT leaders, Mysore has been chosen as the upcoming software nucleus. According to analysis of real estate sectors, it is actually the prospering of IT sector that brings about a boost in real estate trends of a city. Mysore is witnessing the launch of various IT projects, thus, leading to infrastructural developments and generating needs for expansion of real estate sector. Therefore, as evident by the increase in demand for both residential and commercial property and the consequent hike in property rates, the trends of real estate development in Mysore are no different.
After flooding Bangalore with global software companies, IT majors are expanding their operations in the nearby city, Mysore. Undoubtedly, its favorable location i.e. being in proximity to the technology capital has proved highly advantageous to Mysore. When the focus of IT industry was Bengaluru, the property rates in Mysore were quite low and affordable while the real estate of Bangalore was flourishing. Since, this interest has now been displaced and shifted to Mysore, its real estate sector seems to be reaching an all time high. The modernization program has already begun with the primary task of improving connectivity of the city to other regions.
The revamping of airport, the doubling of railway tracks between the cities and the completion of Bangalore-Mysore expressway are some of the recent developments taking place to create a better communication network. Large numbers of residential and commercial developments are also under progress to accommodate the demands of both individuals and large-scale companies.
Some of the upcoming residential properties include Shalom Voyagers’ Central Park at Ideal Jawa; Brigade Group’s Brigade Citadel in Yadavagiri, Brigade Horizon in Siddhartha Layout and Brigade Solitaire behind Lalitha Mahal Palace; Damden Properties’ Beryl, Square, Prithvi, Solar and Arbor and many others.
The commercial real estate of Mysore has become the hottest choice for many corporate giants for both carrying out business operations and as an investment destination. The properties in Landsdown Building, Devaraje Urs Road, Sajjan Rao Road, KT Street, 100 ft Road, Irwin Road and MG Road have the highest demand for building up of office spaces.
The price of property in Mysore have already doubled and even trebled in many of its important areas in last few years. It has been indicated clearly that the overall growth of the city that includes the speedy rise of real estate, information technology and retail sectors is all set to fuel up the property rates further. The special interest of NRIs in Mysore property is another major reason for the hike of property prices in the region.
Being the ‘Cultural capital of Karnataka’, Mysore attracts large number of tourists, especially at the time of Dusshera celebration that continues for 10 days. Mysore is also popularly known as the ‘City of Palaces’ as it houses various beautiful palaces including the Mysore Palace. There is a unique ancient charm that prevails in the city, alluring people from everywhere to visit the city, making it an important tourist destination of the State of Karnataka.
It is, thus, suggested that if you are planning to buy or invest in Mysore property, the right time is now because prices still fall in moderate zone. They are only going to rise in the coming years and so, will definitely yield high investment returns.
Planning on buying or selling property? A real estate agent would be able to help you get the best deal, right? The truth is there are so many agents out there but not all of them are worth their commission. Here are some characteristics of a good real estate agent:
1. A Good Real Estate Agent Works Full Time
Not all part-time real estate agents are not worth considering but one should ask oneself the question would you use a part-time mechanic or part-time dentist. If you are going to purchase an expensive property or investment, it might be better to use a full-time professional.
2. A Good Real Estate Agent Owns Property
It just makes sense to buy property from someone who chooses to own property themselves.
3. A Good Real Estate Agent Knows the Market
An estate agent with a passion for the industry will keep up to date with latest statistic, trend and future predictions. A good agent will also have valuable experience in the area that you are looking to buy/sell in, hence being aware of recent activity and prices in the area.
4. A Good Real Estate Agent Understands Your Needs
It is so important for your agent to know what you are looking for. A good agent will have mastered the art of understanding the needs of their clients.
5. A Good Real Estate Agent has Excellent Communication Skills
Buying/selling property could be an extremely unmanageable experience; therefore you need an agent that will be good at communicating the process with you.
6. A Good Real Estate Agent is a Powerful Negotiator
Negotiating is a vital part of a real estate agents job description.
7. A Good Real Estate Agent is Enthusiastic
Powerful agents are excited about what they are doing. Enthusiasm encourages others to cooperate with them.
8. A Good Real Estate Agent is Well-Connected
A well-connected agent will be able to give you access to property lawyers, property inspectors etc. If an agent has been in the industry for a long time, you can be sure that they will have built up reliable contacts throughout the years.
9. A Good Real Estate Agent is Resourceful
Real estate agent makes use of various ways of advertising property and new mediums become available to them on a regular basis. A resourceful agent will use all the marketing mediums possible to advertise you property.
10. A Good Real Estate Agent is a Good Listener
Agents should know that listening to ones clients will give them a better idea of what their clients are looking for.
11. A Good Real Estate Agent is Patient
You certainly dont want your agent to rush you into a sale. Patience is a virtue.
12. A Good Real Estate Agent is Accessible
You want to choose an agent that is accessible to you. They should keep you informed when they are leaving town for a week or attending a seminar for a day. You should not have trouble contacting your agent.
13. A Good Real Estate Agent is Honest
People tend to think that sales people are dishonest because they will sell anything to you to make a buck or two. It is thus essential that you ensure that the agent you choose has a lot of integrity. You might want to trust your instinct on this one.