Tag: Before

Things To Consider Before Selling Your Commercial Or Residential Property

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Commercial spaces are available to suit every one’s pocket. Top names in the real estate developing industry vie with each other to give investors the very best on offer. Office spaces, mostly as high rises, have state of the art facilities that are as good as any found on foreign shores. Many famous firms have shifted their offices and call centers to gurgaon property because of the immense facilities available.

Also, do not forget to check out the state of wiring and plumbing in the apartment. Will you need to re-wire the apartment? Do you have to get the plumbing repaired as well? Is there adequate space for parking your car? If yes, how much will it cost? These are the questions you need to find out answers to.

HUD acquires a property (usually a 1 to 4 unit residential property) as a result of a foreclosure action on an FHA-insured mortgage. Thus, the property is put on sale by HUD (as it becomes its new owner) to recover the loss on the foreclosure claim.

The Circuit Breaker cap was passed into law in 2006 and became effective statewide for owner occupied residential property (homesteads) for property taxes payable in 2008. The current Circuit Breaker caps homestead property tax at 2%25 of gross assessed value. The goal of the Circuit Breaker is to provide predictability in tax bills by ensuring that Hoosiers don’t pay more than a fixed percent of their property value in taxes.

You need a good financial adviser for planning. They will evaluate your assets and plan accordingly. They will also help to implement new strategies so that you can lead a worry-free life. Once you know that your future is secured, you will be less worried. If you look at the package, you will find that the whole package is tailor-made to suit your needs. There will be a full written financial scheme. This is designed to suit all your requirements. Through this package, you will have options of minimizing your tax and make some solid investments. You can also plan it so that it helps you in mortgage payments.

Giving your dwellings curb attraction has been the lengthy withstanding strategy that real estate makes use of to sell homes, whether or not if the business is sweet or bad. For some, they believe selling homes at Denver homes for sale is a matter of getting the proper customer. As well as you cannot do this if your precise house is the full opposite of what’s written within the ad.

If you happen to were to sell your properties right now at Denver homes for sale, you’ll in all probability find yourself in massive trouble. Oh effectively, that’s simply a hyperbole. But the truth is you will have to make use of more effort to have the ability to turn up your homes sell. If it occurred that your property have been available in the market for fairly a while, its value may actually be hurt. So you haven’t any selection; its either you set it up to for lease or perhaps you strategize.

Before You Rent A Commercial Property

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The Global Income ratio effectively computes all income (both business and personal) vs. all expenses (again, both business and personal) that the entrepreneur has. 50% to 60% has been the norm for years, now more and more lenders are demanding 40%.

The first thing that you have to do is gauge your present financial situation. This means weighing your monthly expenses, income and savings. In addition, try and figure out how much money you will need to lead a good standard of life after retiring. This will allow you see how much you need to save in order to have that standard of living.

Use good photos in the newsletter that are well lit and capture the right message. The best exterior photos of property are usually taken when the sun is low in the sky. That will be first in the morning or late in the day. What you want to have is the sun shining clearly on the front of the building. Avoid using photos with shade distorting the image.

The smell of tobacco is the number one reason why buyers withdraw. Even if the buyer is a chain smoker, he doesn’t want to live in a home that smells like tobacco. He may be a smoker, but he also wants to live in a clean and good smelling home. As a seller, you must take good care of the cleanliness issue of the home if you don’t want your potential buyers to withdraw.

Like other home-based industries, home inspection has its share of frauds and phonies. It’s safe to assume they represent the minority, but it still pays to ask about certification. A professional home inspector will be happy to tell you about his certifications.

Educate yourself. The only way to know that you are getting the best deal is to learn about the commercial industry and loan process for yourself. Interview a few brokers and talk about the options they may offer for your specific property type. A good broker will educate you on the loan process and provide you with resources for additional information. If the broker is not interested in helping you to learn about the industry, then take that as a hint. Either they don’t want to make the time for you, the client, or they prefer to keep you in the dark about how they are doing (or not doing) their job.

Nothing could be more disruptive to your move into your new commercial property than to see it disrupted by a major road renovation or highway expansion in front of the building. So do some homework to make sure that access to your commercial property is in no danger of being slowed or stopped by building projects or other city improvements. Further, find out what is going on with the building. If the roof is in for repair or the plumbing is going to get overhauled, do you really want your new lease to lock you into that nuisance. So while talking to the landlord, also talk to some people behind the scenes who are “in the know” about your new commercial property location.

Make sure you have the money if you are going to invest. You will need enough to cover a down payment, closing costs, points and earnest money. When dealing in commercial real estate, it is much nicer if you will not do it all alone. Properties valued highly fall outside the investment range of most individuals, but if you partner up with a few others, a group investment becomes possible. Besides, the more folks there are in your network, the more likely it is you will hear of a deal before it gets listed.

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Preparations To Do Before Selling A Property

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Do not be afraid to come out a question particularly for those who are saying so much. If an agent or a certain particular person offers you something, ask the person if she or he has invested in the property that she or he is offering. If they’ve, then, it proves that the property is and shall be a great investment. But when they haven’t invested in something that they claim, pop one other question. Generally, what corporations and brokers offer will speak for themselves. Assume, if what they offer are so incredible, then why haven’t they invested on it? Until they’ve glad your questions, may as effectively turn down the offer.

This beats the fix and flips because you do not have to sink lots of money into remodeling a house. Those types of deals can get you really in the hole if the repairs go further than you expected. I stay away from risky ventures like that. Now with tax delinquent investing you can buy properties for hundreds and sell them quickly for thousands even tens of thousands more. I bought a property for 3 and sold it in 3 days for 35,000.00. Even if it had turned out to be worth less, I would have still made money! I purchased 21 properties for 3,000 and I sold them in three months for a total of 150,000.00.

Take your profits – pay the back taxes or quickly sell the property. Finally, pay off the back tax, or liquidate the property quickly. If you have the money, pay off the tax bill and try to sell for retail, or rent it out. You don’t have to pay the taxes – with 0 invested, you can afford to sell to another investor and still profit big-time!

A third benefit of rental property investing is that it is not very liquid. Now some people see this as a flaw. However, this can be looked at from a different perspective. When stock prices fall rapidly investors are often spooked into selling assets. This is easy to do and stock investors will sell at lowest prices rather than having a long term strategy. If you have a property that is providing positive cash flow, you are not usually tempted to sell if some prices fall. You usually wait it out. Unless you are going through a divorce, you can usually sell your property on your terms.

Know your long term goals before investing. This is not a get rich quick method of asset appreciation. Most liens will only come due once a year. So if you are looking for short term make money fast action this is probably not it. But to compensate for the time factor involved, you’ll be blessed to gain 16%25 and more on your investment capital.

So even though you may not be able to achieve to goal of purchasing 130 properties in 3.5 years (that is one property every 9-10 days) it is very likely that you can start by purchasing one positive cash flow property with the goal of owning 13 properties in 35 years.

If your tolerance to risk is not aligned with your selected strategy, you will either have many sleepless nights, or feel frustrated because you feel you are not maximising opportunities and could be buying more property.

12 Key Questions To Ask Before You Hire A Commercial Real Estate Attorney

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Top of mind marketing is what a newsletter is all about. The newsletter has to be of interest but short, useful and factual. Build your newsletter around the well-known AIDA principle of marketing (Attention, Interest, Desire, Action), and then keep it going out to the market in print and email form on the monthly basis.

As to how much money should be spent on marketing, it is really a subjective question to the property and the local area. The media channels that you use should be the right ones and the timing of promotion should be suited to the local area property investors and business community.

Let’s begin with your motivation and qualifications for becoming an agent. If you want to make money, it’s there to be made. If you’re looking for a way to dig yourself out of a financial hole in a hurry, this isn’t it. The big payday will be a long way off and you shouldn’t expect any earnings whatsoever for three to six months. Oh, yea, and you have to be a terrific Salesperson! If you are not a natural born Seller, decent conversationalist and self-starter who makes Donald Trump look lazy; you will not earn big money as a Realtor. You have to be smart, tough, good with math and have a knack for understanding complicated paperwork. You also have to have startup money and plenty of patience.

There have been times we have suggested a seller just pay the tax! Sometimes depending on your particular situation it may be a better route to just pay the tax. For example: You have a pension and social security and just want a junk of money in a safe CD. The gains tax is 15% of the difference of your basis value less capital improvements. Your gains tax is much less then income tax, but the cash flow decreases to whatever the CD offers.

Grants are usually awarded to people with a solid business plan. Develop your strategy for success and be ready to prove it when you apply for the grant money. Determine what skills you have to offer and why people will want to use your business. You should decide if your business will be based from your home or if you will need to rent a commercial property. Include all of these details in your business plan so you will be ready for action when your first grant money arrives.

You want to hone your skills so you can become a great landlord down the road. A lot of people who become landlords do not actually have the skills to do that. They have properties that sit vacant. They don’t know how to fix problems. They let contractors take advantage of them. They end up with negative cash flow.

Sure all unnecessary lights are turned off. Review any light timers and reset them. Heating and cooling costs are always an issue with retailers. Look at raising your thermostat 1 or 2 degrees in the summer months and lowering them in the winter months.

Commercial Property Sales – Get Tenant Mix Details Before You Start Marketing

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The Debt Coverage Ratio is a tool capital sources use to asses if a business can afford the mortgage payments of proposed loan. Typically lenders want to see a ratio of 1:1.20. Meaning the business, would have .20 of net income vs. of proposed mortgage debt. So, if the business had a 1:1.2 they would still have $ .20 left over after all debt and expenses were paid.

Price ranges or price must be discussed so that we both know that there are totally different wavelength “when it comes to reaching a hit list and the solution of the sale.

Like other home-based industries, home inspection has its share of frauds and phonies. It’s safe to assume they represent the minority, but it still pays to ask about certification. A professional home inspector will be happy to tell you about his certifications.

Create a brand for your real estate office and put your personality into the page. Remember that your personal brand and your office brand has be the same each time you send out a newsletter. Continuity is critical when it comes to building your brand.

Right now there are plenty of forced redemptions from funds that are heavily indebted and simply need to sell the asset. Few buyers equals depressed price hence the vulture like movements above to gobble assets at their cheapest price.

OThe first thing that you need to decide is the type of commercial property you are looking for. Jot down the size, location and the type. It is quite possible that you might need a building, so why then look for office space? You need to be clear of these aspects before starting your hunt.

Often the Seller will simply stop maintaining the Property when it is under Contract. Tenants will put in work orders and the Seller will just ignore them. They just let the Property “Die”. If you don’t catch them, you may take over a Property where there are literally hundreds of active work orders on the day you take ownership. The tenants will be pissed and it will cost you a fortune to do all the repairs.