Month: June 2019

Considering a Waterfront Home Investment

Get The Right Estate Agent

Not everybody wants to work with a real estate agent when they are investing in property, but when it comes to specialised purchases it is often a good idea to work with somebody who has previous experience in the market.

Not only does this mean that you can get the benefit of the agent’s experience when it comes to dealing with waterfront properties, but it also provides you with the opportunity to learn from people who have done it before. Keep your eyes and ears open and don’t be afraid to ask questions about why certain things are done.

Make Sure The Property Is Structurally Sound

You may find the most perfect property for you when you are on your search, but if it isn’t able to withstand the weather conditions then it is not going to be a suitable purchase. Always remember that being on the waterfront means the house is more exposed to the element and may have to stand up against some pretty torrid conditions at times.

Before you commit to anything, make sure that you have an expert come in to take a look at the property. Ensure that they pay …

Land Good Tenants

Screening Tenants

You should always screen your residents. Screening enables you to see all about their history. This includes missed rental payments, credit checks and even criminal records. Screening your tenants is the first step toward securing great tenants. Don’t ever let a tenant into your property if you doubt their consistency. A property manager will give you the access you need to these facilities, enabling you to choose the best possible tenants within that location.

You’re Reputation

Tenants like someone with a good reputation. If your tenants know that you will look after them, then more tenants are likely to come. For example, if you evict a tenant who is noisy and reckless in a quiet area, then the people within that area will appreciate your efforts. This opens the door to new tenants, and quiet tenants usually want someone who will respect their preferences. If you have a reputation for purchasing properties in quieter areas, then quieter tenants will want to rent from you.

Property Location

The location of your property can play a large part in your tenant income rate. If you own several properties within a well presented area, then you will most likely receive this …

Users of Furnished Apartments

  • Newly married couple. New couples really find bare apartment inconvenient for them as it will eat some of their quality time getting to know each other and instead find themselves arguing over different furnishings that they need for their new domicile. An apartment that is already furnished with bed, dining table, sofa, LED TV, and other furniture as well as fixtures make them relaxed and actually allow them time to find the best design and right furnishing for their own house in the future.
  • Business executives. It is not about scrimping on budget but if you are to spend several days, say for at least 15 days in a specific area where you have business interest, an apartment that is already furnished is cheaper than staying in hotels. And the beauty of this situation is that you feel like you are just staying right inside your actual home. If you are into health and fitness and with a special diet to follow, having your own kitchen and cooking your own meals is better than eating in fancy restaurants where you are not aware of the calorie count or how unhealthy the ingredients that were used are.
  • Group travelers. It is

Before You Choose an Apartment

Judge on your Affordability

You cannot start off with your search in an unorganized manner. While you are planning to purchase a house in Dallas, first decide on your budget. Think how much you can spend for your apartment.

Select the Area

Select the area in which you want to purchase the apartment. Shop around and see, if you can get an accommodation within your budget, in that area. If you cannot, search for an alternative.

Consider an Easy Assess to the Different Means of Transportation

See, if all the important places, like the local market area, hospitals, the city center and the entertainment sites at a close proximity. Check out the distance of Airport and the Train Station from the apartment.

Do Not Opt for Furnished Apartment if you have Own Furniture

If you already have an exquisite set of furniture, it will be useless to buy a furnished apartment. Buy an apartment without furniture. This will help you to save some money on your home cost.

If you will be allowed to carry your pets

If you have a pet, check out if the community restricts you from entering with a pet. In that case you may have …

Using Recyclable Materials in Your Building Plans

Recycled woods are as effective as finished wood but they are generally cheaper in terms of cost. Recycled woods aside from structural uses in walls and windows can seamlessly find uses in drawers, cabinets, and shelves.

Old newspapers should not only find its way into paper mache. In fact, they can be used as insulation. Carton egg trays an also serve this very same purpose. Hundreds of dollars can be saved from your pockets with this simple act.

Raid your kitchen of empty wine bottles and mason jars. If you think that they can be used only as pen holders and organizers of tiny tots, you’ll be surprised that they can actually be used to build a house. Search for various inspirations of the internet and see that there is actually a wine farm in Australia which used abu 13500 wine bottles to design water-heating facility. Similarly, there is a Canadian man who used 25000 wine bottles to design his house.

Dating back to the 1900s, empty wine bottles have found various uses in construction of homes. In the United States, you can find several homes which have walls with embedded bottles on them. The idea is like hitting two …

Go Green in an Apartment

Power outlets

Just having something plugged in can actually draw electricity through it, even if the appliance or device on the other end is not on. If you aren’t actually using the device, make sure you unplug it. You can cut your power usage by as much as 40%, based on studies that have been done.

Adjust that thermostat

No doubt you’ve heard that changing your thermostat can reduce your electricity bill. It’s true. Turn down your winter thermostat to 68 degrees and you will be able to save quite a lot of both money and electricity. Conversely, turning your thermostat up in the summer and using windows strategically to let in the cooler night air will save on your air conditioning costs.

If your complex allows you, you can even use a plastic film over the windows to keep out the cold in the winter or the heat in the summer. Even if you are not allowed to do this, you can use heavy curtains that will help block out strong sun rays and keep you warmer when the nights turn cold.

Appliances

If you have appliances in your unit like washing machines and dryers, use them only when …

Secure the Best Mortgage Rates

Mortgage Rate – Make Daily Check

The credit interest taxes vary greatly irrespective of the industry. In many cases, the tariffs vary daily. Therefore, it is better checking the rates daily to stay up to date about the changes. In the recent years, this tip saved a great amount of money for many people. A daily checking of the interest charges not only helps people secure the best rates, but also save some money with reduced interest taxes.

Check the Policy of Mortgage Company

Most people skip reading the entire policy of a mortgage company. However, there might be many clauses within the policy, which might not suit a person. Moreover, many companies offer their clients with comparatively lower rate of interest once they commit working with the company. Again, if the interest charges drop in the global market by half a point, the companies will also drop the rates. Therefore, a person should not fail to check the mortgage policy of a company.

Compare between Several Companies

The mortgage rates vary from one company to other. However, it is not possible for a person to know about the best tariffs unless he compares them on his own. One can …

Commercial Property Condition Assessment

The Purchase or Leasing of Commercial real estate, whether it be a basic commercial net lease, a commercial triple net lease, the purchase of a church facility, a retail outlet, or the purchase of a million square foot office/warehouse, the prospective buyer or lessee absolutely must conduct an adequate level of due diligence when investigating the physical quality of the commercial real estate they are investing in.

You need to know not only the physical characteristics of the real estate and buildings being acquired, but the approximate condition and age, to assess the good with the bad, such that you can adequately balance the risks and rewards being offered in conjunction with your real estate deal. The single most important part of the real estate transaction process, aside from the purchase price and profitability balance, is a well-documented review of the actual physical condition of the real property. Otherwise, you could find yourself the not so proud owner of a commercial property that, doesn’t suit your needs, costs more than you can afford in upkeep, or the ultimate remorse for investors – capital expenditures are being sunk into a property on a regular basis that someone else is utilizing and …

Buying a House Cheaply

  • Bad Rental Properties: Real investors stake out the courthouse–specifically the landlord-tenant cases (usually held one day a week). Whether the landlord wins or loses, he/she may just want to get rid of the property. You might also find these properties’ owners by advertising online through sites such as Craigslist. Bonus Tip: Contact property management companies. They’ll know their properties with bad tenants, and they may know whether the owner is interested in selling.
  • Inherited Houses: These can be very similar to vacant houses. Sometimes they’re vacant; sometimes not. (If not, it’s usually a relatively living temporarily there.) Often, the heirs don’t have a use for the house, and they’re not interested in becoming landlords. Meanwhile, there are those recurring monthly costs, as with vacant houses. Inherited houses often aren’t in good, updated condition, and the heirs aren’t interested in spending thousands of dollars just to fix the place up. They want to sell quickly and get whatever money they can out of the house.┬áInvestors check records at the courthouse and contact probate attorneys. You can do the same. Plus, tax records (which you can research, or have them researched by a real estate agent or a researcher) will usually

Commercial Property Managers

When it comes to goals, you would expect that a sales or leasing specialist would focus on a mixture of the following:

  • Listings
  • Commissions
  • Time on market
  • Market share

You can track all of these on a monthly basis and then see where things are changing.

So what would you track and monitor from a property manager perspective? Try some of these:

  • Arrears as a percentage of portfolio income
  • Vacancy factors in the portfolio
  • Time to respond to a tenant contact call
  • Time to respond to a maintenance event
  • Time to complete a maintenance repair
  • Reports to clients being sent out on time
  • Time to respond to requests or calls from clients

These points are all very good key performance indicators. The fact here is that these numbers start to ‘blow out’ when a property manager is underperforming or heavily loaded with work. That’s when you see the errors occurring.

It is a sad fact that the ‘management division’ in many brokerages are the ‘forgotten cousins’ of the business. When things are going well, everyone leaves them alone. When things start falling apart in the division, the whole brokerage struggles.

For a commercial brokerage to thrive, it needs a very …