Exclusive International Property Sale
International Property is one of the easiest way for just about anyone to achieve financial wealth. Basically, people will agree that international property investing is a great business. Just as with any business opportunities, there must be a timeframe of due diligences. One must consider both the problems and the conclusions of prosecuting a business opportunity. There are many effects on the decision of which property to buy, either nationally or internationally. Property buyers are either short term investors seeking to buy and sell their international property abruptly to make a return on a increasing property market and long term investors, who wish to use the property as a second home and/or providing extra income from short or long term letting. The most prominent thing to visualize before purchasing a property is the profits from it. The benefit is the net yearly rental income as a comparison of the many international property purchase prices. To estimate this former to a purchase, search on the web for similar international properties for rent to calculate an idea of the rental income per week you will be able to achieve. From this value you will require to subtract allowances for rental service companies and also taxation on the income. It is habitual that you can offset all costs in running the international property against rental income received. Take a conventional approximation on the number of weeks you will hypothetically be able to rent the international property demand. Just as you should with a international property investment, look for an area that is up and coming. If an international property investment which is demanding with popular prices will be high and your potential return lower. Once you have selected the region or town you want to purchase in, try to get some inside erudition from locals. They will help you find international property of your need that suits you. Remember, potential international property hotspots are frequently found next to existing well -liked areas. Always, consider if the essentials of the area are right. Are there enough shops and restaurants nearby? Are the resources good enough? If you are aiming rental income from holiday makers, is the airport a acceptable distance away? And will they be able to enjoy the holiday home and the nearby resources without having to hire a car or rely gratuitous on public transport? The number one deliberation for holiday makers is often the view from the international property. That’s what people are purchasing when they select your international property to stay in. Have a walk around the area and try to isolate potential development sites for the future, so you can see if any apartment blocks could be put up destroying your view. Next up, a consideration that you hardly ever have to think about when you find international property in Dubai: what’s it like out of season? If the area becomes a ghost town during the summer and all the shops and restaurants close, that could affect the returns on your overseas investment.Kuldip Goylea works in various fields like International Property, Preconstruction RealState, Property Overseas, REALESTATE OVERSEAS,REALESTATE INTERNATIONAL, REALESTATE INVESTMENT,INVESTMENT PROPERTY, PROPERTY PURCHASE,REALESTATE PURCHASE,BUY PROPERTY,SELL PROPERTY,BUY REALESTATE,SELL REALESTATE, to know more about <a href="http://www.eastwestdevelopments.com/">INTERNATIONAL PROPERTY</a> visit: <a href="http://www.eastwestdevelopments.com/">www.eastwestdevelopments.com</a>
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How You Can Use Rehab, Refinance and Cash Out as Long-Term Wealth Building Real Estate Investing
Today we are discussing a somewhat advanced strategy for you to use after you have been in the creative real estate investing business for a while. I call this Rehab, Refinance, and Cash Out . This strategy can lead to true long term wealth and financial independence. This works very well in a buyers market like Memphis where prices have been quite flat for some time. You need to use this to augment your wholesaling for immediate income and retailing for bigger short term profits. Rehab, Refinance and Cash Out is a long term wealth building strategy and will be something you will be glad you did as it is a long term buy and hold strategy, and those are the strategies that lead to true wealth accumulation and financial independence. Let me explain how this works. You find a good middle to low end 3 bedroom home that you are able to buy from an out of state owner or other motivated seller that needs a little work and you buy at 60% of after repaired value. You buy the house using a hard money lender like http://www.pleaseclose.com/memphistrading and do your fix up and have a property management firm manage the property and put a renter in the house. The hard money lender will typically loan you up to 65% of the after repaired value to purchase the house which you use to buy the house and then repair it. Now that the home is repaired you obtain an investor friendly mortgage and cash out by refinancing at 80-90% of after repaired retail value and you should be doing this with properties where this strategy gives you back at least $10,000 at the refinance that you can use in your business any way you need. Do not use this money to live on, use it solely to grow your real estate business. Once you have done this strategy on 10 homes you should be able to keep finding better and better deals because you can close quickly as you have cash in hand to make things happen. More cash equals better deals and more opportunities. By the time you repeat this strategy 20 times you should have at least $200,000 cash plus about $200,000 equity and 20 homes giving you at least $2000 per month positive cash flow whether you decide to work this month or not since you have a property management company handling things for you. With average annual rent increases, within five years that $2,000 a month should grow to $4,000 a month. In 30 years you should have $2 to 3 million plus in paid off real estate. It s a good solid long term strategy to add to your immediate selling from wholesaling, retailing and lease options that the extra $200,000 in cash will help grow tremendously. The rent minus the management fees and all loan and other costs must leave you with positive cash flow or this strategy should be avoided. If you cannot cash out on the property I don t recommend holding it long term as you want to be able to use your best mortgages to cash out. You can purchase using http://www.pleaseclose.com/memphistrading if your Equifax credit score is above 550(which is bad credit) or you have a co-borrower who has an Equifax score over 550. A good investor friendly mortgage company will give you good rates if you are at 660 middle score or above and the very best rates if your middle score is 720 or above. Your first 10 investor mortgages in your name and 10 in your spouses name are the easiest to qualify and get the best deals. After those you really need a good investor mortgage company to work with. Take the time to find the real investor friendly mortgage companies that can help you get loans for 100 properties and not just the first ten and let them have the easy ones and the tougher ones. I do recommend having more than one good lender available though, but stick to the ones that specialize in investor loans. Find out from other investors who the most investor friendly mortgage companies are to use to refinance the repaired home. I do not advocate becoming a landlord as I do not believe this is a valuable usage of your time and energy. I highly recommend asking around and finding a good property management company that will charge you 10% or less to start out with and gradually lower that % as you add more and more properties. I feel this is an advanced strategy as you won t see any cash in your pocket from this strategy for 4-6 months after you find the deal which is a long time to work and not see any pay. If you are wholesaling and making consistent money each month then it shouldn t matter. This strategy will magnify the profits you make in your investing business in ways you might not have imagined. This strategy is a natural progression from wholesaling as you are already helping others find these kinds of deals, now you will be able to get the cash out typical of probably 2 wholesale deals, just paid slower, and at the same time building a nice future nest egg.David Neese is a real estate investing author who offers a free course for real estate investors delivered by email, audio and teleseminar which you can get for free at: http://www.FreeRealEstateInvestingCourses.com You can find more information about David at http://www.DigitalSuccessCoach.com
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The Truth About Realtors
Recently I read that an annual poll taken among Americans rated Realtors as one of the least respected professional in the country. For the first time in history, Realtors fell not only to the bottom of the list, but even below non-licensed, non-governed professions. Yes, we finally beat out used-car salesman as the least respected profession. Different polls have yielded different results, but this particular poll focused on ‘the trust of a professional to give good advice.’ Now, for me herein lies a particular conundrum. To start, certain significant differences exist between professions. For example, Realtors are licensed, and as such, they are governed by three governing bodies: their local board of Realtors, their state board of Realtors, and the National Association of Realtors. To be licensed, each Realtor must pass a number of significant signposts. For example, in Texas, a minimum of three college level courses must be completed to obtain a license. Of course, this only applies to college-degreed individuals: more courses are required if the candidate does not possess an accredited degree. Next, they must pass the licensing exam. Once their license is obtained, continuing education is mandatory to retain the license, as is common in many professions, such as Accountancy, Law, etc. This requirement is strictly enforced and must include a minimum amount of real estate law. Thus Realtors stay relatively abreast of changes in real estate and law, and, in particular, nowadays, of the growing problem of mortgage fraud, which can in some instances, implicate the seller, even if the seller is ignorant of the law, they can potentially face criminal charges and substantial fines as an accomplice. (Ignorance of the law is no excuse). A Realtor, as a seller’s agent, can usually spot the red flags related to mortgage fraud and alert their client to the possibility and possible sources of relief to avoid an undesirable outcome (like jail). In short, the Realtor is a professional, and, in some cases, can not only sell your house, but keep you out of legal troubles. Additionally, Realtors, per the National Association of Realtors, are bound by a code of ethics, which they must agree and abide by, for if they do not, they can (and usually are) brought before a court of inquiry through their local or state boards to determine their guilt or innocence and receive appropriate disciplinary measures. In short, if a Realtor is unethical (not just operating outside the law, but operating within the law unethically), they can (and will, if found guilty) lose their license to practice. Did you know that a real estate agent is governed by the same body of law that governs attorneys? That’s right; it’s called the Law of Agency and it varies a bit state by state, but fundamentally, it says that a Realtor is required by law to put your interests above their own. The point is this: Attorneys and Realtors are bound by the same set of laws. Yet, somehow, Attorneys rate MUCH higher in the poll. Ever consider what it cost just to practice real estate? Between the expense of joining the local, state, and national boards, as well as the local MLS dues, showing service fees, website fees, errors & omissions insurance, advertising costs, AND broker related fees and dues, a Realtor pays thousands of dollars (even tens of thousands) each year just to be a Realtor. And we’re not finished yet. Once a Realtor is licensed, they must find a Broker to sponsor them. Now, this really isn’t that hard, but if you have a bad reputation in the field (and in real estate, everyone knows everyone), this might be much harder than you might think. In these cases, where reputations are poor, no broker will touch them, so a Realtor’s only choice is to become a Broker (which means more classes, more expense, more training, and another licensing test) in order to continue to practice real estate. This isn’t saying that all small brokerages are probable crooks, in fact, in most cases, small brokerages are just entrepreneurially oriented individuals trying to build a legitimate business, but there are cases where this is the last opportunity for some Realtors to practice real estate before being run out of town on a rail, so to speak. I know this seems like rambling, or I’m complaining over something small, but I’m really not. I have an MBA; I am a Certified Management Accountant; I am Certified in Financial Management; I spent 23 years in banking and as a business consultant. Two years ago I got disgruntled with the internal political machinery that constitute ’success’ in corporate America and quit in order to look myself in the mirror at night. So I joined my wife to build a credible, honest business based on integrity. I became a Realtor. What I found was that no one trusted me and that somewhat astounded me. People thought I took a listing, sat back, watched TV, drank beer, and waited for someone to sell their property. I’m not making this up - they really thought this. They complained about the fact I wasn’t doing anything for them. Wow! If they think I wasn’t working for them, they should take a long look at corporate America! Now, get this, I would receive these complaints around 8:30 p.m. while I was still in the office working. For some reason, these clients didn’t add it up that it was 8:30 at night, and I was still at work. I have found that to remain competitive in real estate, I work seven days a week starting around 9:00 a.m. and end the day somewhere between 9:00 p.m. and midnight–every day, and I am usually so busy, I forget to eat lunch (I used to tease my wife how she could possibly forget to eat lunch, but now that I’m in the business, I understand). That’s just what it takes to get all the phone calls answered or returned, the negotiations put to bed, the inspection issues resolved, the photos and virtual tours taken and posted, the newspaper ads ordered, the just listed cards sent out, the just sold cards sent, the monthly newsletter and other marketing materials in the mail, the website and MLS updated, the flyers designed, printed, and delivered to the property, the books balanced, the supplies replenished, the equipment fixed, the computers/printers/fax kept operational, the emails read and processed, the mail read and processed, all the paperwork completed perfectly and processed (the then verified for accuracy), the prospecting done, the client follow-ups finished (time permitting), the closings attended, the closing gifts purchased and delivered, the listing presentations prepared and made, the comparative market analyses done, potential homes identified for buyers, the potential homes shown to buyers, the bills paid, the mandatory education completed, the 800 numbers recorded, all amendments signed and filed correctly, putting out ‘for sale’ signs/lock boxes/flyer boxes (or picking them up after a sale), the open houses held, the flyers prepared and distributed in every broker’s office in town for the open house, holding realtor luncheons, flyers prepared and distributed at every broker’s office in town for the realtor luncheon, buying and preparing the food for the realtor luncheons, talking to other agents to get feedback on home showings, and talking to others agents about our listings, fending off frivolous lawsuits, AND telling our clients that we ARE working on selling their home even if they don’t hear from us every day or even if they don’t see us doing anything. That covers some of what our day is like. Every day is different, but that covers some of it. My point? Well, if it isn’t obvious, how are Realtors rated so low? We are we at the bottom of the list of all professions? How is this possible? With all due respect to used car salesman (and I mean that - I’ve met a few wonderful used car salespeople), how can a licensed, governed profession, subject to stringent ethical and educational standards, that costs thousands of dollars per year just to practice (our costs to practice exceeded $50,000 last year), how can a profession that requires about 80+ hours of work per week — all week — well, how can this profession possiblly be less respected than a profession where NONE of these items are required? It boggles the mind. Are there licensed used car salespeople? Are they held to ethical standards? And — think about this — do they pay thousands to tens of thousands of dollars per year to be a used car salesman? This isn’t to say that every Realtor walks on water. No. Not even close. But neither does every attorney, doctor, engineer, or accountant. There are levels of skill related to all professions, including Realtors. So, what I want you to know is that the polls aren’t justified. Yes, they reflect that Realtors are one of the least respected professions in America, but the justification for this is MIA. I know, I worked in corporate America right next to hundreds of CPAs, engineers, systems analysts, programmers, and I lunched with CEO’s, COO’s, and multi-millionaire entreprenuers. I’ve seen it all, I’ve worked with them all, and truthfully, the best bunch (by far) I’ve ever been associated with is the 130 agents in the Ebby Halliday Office in Arlington, Texas. Are Realtors really one of the least respected profession in America? Get real, folks. Use a licensed Realtor. I recommend you find one by getting a referral from someone you trust, but for heaven’s sake, use a licensed professional. Per National Association of Realtors statistics, you stand a 46 times greater chance of selling your home through a Realtor than on your own, and on average (if you listen to your realtor’s advice) you’ll end receiving a higher price for your home. Oh, and you just might keep yourself out of jail in the process. Scott Bradshaw is a licensed Realtor in the State of Texas. He also is an MBA, a CMA, and a CFM, and worked in Banking or as a Business Consultant for 23 years before entering Real Estate.
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