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Last seen: Wed 19 Aug, 2020 Miami

Miami RealEstate Property Guide

Signature: Miami Beach Real Estate property Agents Sell/Rent Miami beach property

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 story : Asset protection and real estate investments

@PropertyGuide Sat 01 Aug, 2020

Posted in: #topMiamiListings

The first 10 years of my real estate investing I ran my business as a sole proprietor because I really didn't know any better. Luckily, I survived with only minimal damages, but there comes a point when it is time to assess the best legal structure to use for real estate investing.

If you ask 10 experts you are likely to get 10 different opinions. With that in mind, I'll share my opinion and experience. Remember: free advice is always worth what you pay for it.

If you are a beginning investor, it's probably best to not worry about asset protection until you actually have a few assets to protect. Why spend time and money setting up a business entity and creating tax reporting requirements unless you need to? It's like buying full coverage auto insurance on a beat--up Gremlin...what's the point?

Once you have assets and something to protect, then it's time to set up your business structure. Question # 1: what is your net worth? Question # 2: do you have assets that are at risk? If the answer to either of those questions is, "Yes," then you need to take the next step.

Assuming you want to set up an entity for wholesaling properties, the most popular are an LLC (Limited Liability Corporation) or a C Corporation. There is much debate about which one is better, but I prefer the C Corporation because the first ,000 is taxed at 15% and you can have a kick-butt employee welfare plan to write off many expenses. With an LLC, the income is passed through. If you start making money, you'll wish you could pay only 15% on some of it! Trust me on this one.

Why is the tax issue such a big deal?

Here's a simplified example. If you make 0K personally you are taxed on the full amount (35%) and have ,000 left. Anything you buy for yourself comes from after-tax dollars. However, with a C Corporation if you could make the same 0K on paper, but have K in allowable expenses that you can write off. So you get taxed on that K at 15% and only have to pay ,500 in taxes compared to ,000 on your personal income.

What type of expenses can you write off in a C Corporation? It depends on how your Company is structured (see your accountant/attorney for details), but you can often write off basic expenses of things like a bed or even a swimming pool. You're thinking, "No way!" Let me explain how it's done. If you have an employee welfare plan that covers your medical expenses and your doctor gives you a prescription for aqua therapy, it's possible to write off the cost of the swimming pool. Yes, it's crazy, but I don't make the laws. Another more common example is a prescription for a new bed if you have a bad back. I have a "Sleep Number" bed myself, just like Paul Harvey J.

A very wealthy man once told me "It's very hard for a C Corporation to make any money!" What he was trying to illustrate was that C Corporations can expense pretty much everything and look like there is little or no profit. You still can buy the same stuff, but you are taxed less if you structure things correctly.


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 story : All you Should Know Before Buying Commercial Real Estate.

@PropertyGuide Sat 01 Aug, 2020

Posted in: #topMiamiListings

All you Should Know Before Buying Commercial Real Estate.

Buying or renting, such is the question many business people ask themselves around the 1st of the month, when comes the time to write their rent's check.

With the interests rates being what they are and prices being affected by the commercial paper crisis, the answer might very well be yes if the right property becomes available and you can afford a relatively important cash down.

Owning commercial real estate does have it's advantages.
Choices: as the owner, you can decide whether to select a building that matches your current needs, has enough room for future expansion or maybe is large enough for you to lease parts of it.

Equity: every month, your payments are applied to paying down your mortgage and building some equity which could be useful eventually to secure a loan for new equipment, to finance an acquisition or simply as an asset.

Appreciation: not withstanding any unforeseen occurrences, your building should appreciate with time. This appreciation could, just as the above mentioned equity, be used to get better financing conditions.

Power: as the landlord, you are the person in charge of deciding how to finance the building, picking the tenants, choosing the decorations, selecting entrepreneurs for the work to be done, improving the building. You even have control over your rent's rate.


If it's so great, why doesn't everyone do it?

The main reason why not everyone owns the commercial space they're using is that, in real life, thing don't necessarily go exactly as in late night's infomercials…

You can buy commercial real estate with no money down, especially if it's because your money is bringing you more in another (safe) investment.

On the other hand, if it's because your cash flow doesn't allow you any flexibility and that you don't have anything aside should things go a little unexpectedly, then you may want to seriously consider all the ramifications of the deal you are considering.


Your business' cash flow's growth stage.

Is your business bringing you comfortable and predictable income which you are looking to invest or would spending an important part of your income hinder any growth possibility for the near future ?

Will you be able to afford any substantial and sometimes unexpected expense should you have to do unexpected maintenance on your building?

Usually, a commercial property will require a 15 cash down which, in some cases, can end up being a lot of money.

Don't forget you also have to factor in the price of insurances, taxes and legal fees. Due to the importance of the figures involved in most commercial real estate transactions, I recommend you surround yourself with adequate representation meaning: a real estate agent with experience and a positive track record as well as financial and legal advisers.


Examining the tax perspective.

Since I'm not a CPA and that all situations are unique, I strongly suggest you meet with a competent financial advisor who will help you evaluate your particular situation.

For now, keep in mind that in most situations, you will be able to use some of your expenses as depreciations to reduce your taxes or some of the rent as a personal income.


You make your money when you buy, not when you sell.

One last but extremely important factor to consider before making your decision is that you make your money when you buy but realize it when you sell.

Paying more than the fair market value, not taking into consideration your cash flow factors (mortgage, interest rates, insurance, taxes and repairs VS incoming rent, other income possibilities such as parking for example) or letting your feelings dictate a purchasing decision may negatively affect your exit strategy for year if you are not careful.

Though appreciation is quite probable, we suggest you don't factor it in when crunching your numbers: if the deal is still a good deal without factoring in appreciation, you are likely to make a favorable ROI (return on investment) when you decide it's time to go for your exit strategy.

If you absolutely need appreciation to justify your purchase, be extremely careful as no one really knows what will happen in the future and, in the present, you may be paying too much.

Discuss the situation with a real estate agent know for his or her integrity such as Anne-Marie Perno from Laurentides-St-Jerome-Tremblant-Immobilier.com


What you should remember.

So we looked briefly at the different aspects of buying a commercial property. Remember the advantages of being a landlord are:
? Choices
? Equity
? Appreciation
? Power

? Make sure you carefully evaluate your future cash flow.
? Purchasing the property won't hinder your growth strategy.
? You can afford unexpected and sometimes quite expensive repairs should they be needed.
? You can afford the cash down.

? Get advice from a professional financial advisor about your tax situation.
? Get advice from a professional law adviser.
? Get advice from a professional real estate adviser.
? Avoid free advice as it often end up being the most expensive kind.

? Evaluate the building's cash flow.
? Make sure the purchase makes sense even without appreciation.
? Find a reputable real estate specialist.


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 story : How to find a good real estate agent

@PropertyGuide Sat 01 Aug, 2020

Posted in: #topMiamiListings

The ideal agent is not always the one with the most sales under his or her belt, or the most years on the job. The ideal agent is one who listens to you, is easy to get along with, and has the tools and skills to address your unique situation.

Every home buyer is different. Some have credit issues. Some are buying from out of state. Some need help selling their current home in addition to buying a new one. Just as buyers have different needs, real estate agents have different skills and specialties.

Here's how to find the agent who's right for you:

1. Ask friends and family for agent referrals.
Nobody knows you as well as your friends and family do. So they're often in the best position to recommend an agent who is well-suited for your needs. You can also trust a referral from friends or family more than one that comes from a stranger.

2. Talk to multiple agents.
I once saw a statistic that 84% of home buyers choose the first real estate agent they contact. This means one of two things. Either most people are choosing wisely the first time, or they're just rushing into things without shopping around. Probably a little of both.

You don't have to exhaust yourself interviewing agent after agent, but at least talk with two or three to see who you're most comfortable with (which leads to the next point).

3. Consider the vibe factor.
Professional expertise is an important criterion when choosing a real estate agent. But interpersonal skills are equally important. After all, you'll be working with this person anywhere from 2 to 12 months, so it helps to get along with them. We all have unique personalities, and that's the way it should be. But when working with someone professionally, if helps if their personality "meshes" well with your own.

4. Ask how they hunt.
When deciding on a real estate agent, ask how they search for homes. Some agents have their own preferred listings that they favor. But you want what's best for you, not what's best for your agent. You're paying them, right? So make sure the agent is willing to search high and low to find the best home for you. That includes using the Multiple Listing Service (MLS) as well as their own personal network.

5. Read paperwork carefully.
This advice is heavily used for a reason. It's critical that you examine all documents during the home buying process, and that includes your agent agreement. At some point during the relationship, your agent will probably ask you to sign an agent agreement. Basically, it just means that if the agent shows you a particular property, your purchase of the property should be credited to that agent. In most cases it's a simple, just be sure to read it carefully and ask questionss.


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 story : Buying real estate online

@PropertyGuide Sat 01 Aug, 2020

Posted in: #topMiamiListings

The real estate market is one of the most complex markets in the entire world due to the fact that it is in a continuous change, thus making it a very dynamic market. The internet has a lot to offer consumers regarding real estate and as a result it is a great place to start shopping. Some of these advantages are:

- It is inexpensive, if not free to list your home in an online property listing service.

- It is a quick and easy method to advertise your property that is for sale/lease or if you would like to buy a property.

- The buyer and seller have direct access to information about the property in question. This makes other forms of communication between the buyer and the seller obsolete. The internet is easy in comparison to the old-fashioned method of answering dozens phones calls or setting up numerous meetings.

- Many websites that deal with real estate allow you to include up to 5 photos of your property. This is a lot more in comparison to a regular newspaper and you have complete control over the photos’ quality. In addition you can highlight specific features about your property with the potential buyers. This can be very helpful if you are working to attract buyers from outside your local geographic area whom potentially need more explanation of certain elements.

- Once listed, your home is available until you will sell the property. This is a big advantage if you consider that for a newspaper ad you will systematically have to pay a fee week after week.

- These online real estate listing services have a nation-wide audience which will make your ad visible to the entire country;

- Searching for the right house is very easy as these websites have filters which will allow you to only see the houses that meet your specific requirements. Therefore you can spend time looking only out houses that meet your needs without having to waste time looking at houses you aren’t interested in.

Using the Internet for real estate will make you your own real estate agent without having to pay a great sum of money to an agent and also you will have full-control of the entire activity. Whether you are a home buyer or seller, it is very easy to search for the perfect house as the online offers are endless. Or, if you would like to sell a piece of real estate, there is no safer and quicker way to do it.

Online real estate has become popular and is consuming are looking to the internet more each day as an easy place to get good information. As a matter of fact, more than 5 million people use the internet for real estate issues every month. With numbers like this it is easy to see how the internet can improve your chances for selling or buying a home.

Another major advantage of real estate moving to the internet is that you won’t need a real estate agent to start your search. This is very important because we all know that real estate agents are of value but sometimes you just want to look.

All in all, there is no better, safer and easier way to search for a home or to sell one than online as the internet has a lot to offer in the real estate market and it is rapidly developing, gaining more and more consumers everyday and thus improving your chances for a profitable buy/sell.


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 story : Ways to succeed in a real estate business

@PropertyGuide Sat 01 Aug, 2020

Posted in: #topMiamiListings

With a relatively increase of the everyday commodities, more and more people are finding ways how to earn additional sources of income so as to compensate their expenses. That's why most people who look for alternative ventures resort to real estate business.

However, even if real estate business appears to be lucrative to many, it still needs a lot of effort and skills to survive in the industry. So, for those who want to succeed in real estates business, here are some tips to ponder:

1. Set practical and sensible objectives.

Just like any venture, the key to a successful real estate business lies beneath a sound and sensible target. This will serve as the guiding principle of those who wish to make it to the top. Through these objectives, people who are involved in real estates business can focus more on areas that need concern like the market, clients, and strategies that will make their business profitable.

2. Choose the right real estate strategy.

The key to a successful real estate business is to come up with a certain strategy that will supplement the objectives stated on the entrepreneurs’ business plan. This strategy will also provide the right moves to take based on the kind of profit the real estate entrepreneur wants to achieve like an express cash or wealth establishment.

3. Entrepreneurs should acquire the characteristics of an ideal real estate agent.

In order to succeed, people involved in this kind of business should acquire the characteristics of an ideal real estate agent. He or she should be adept in finding the motivated seller, determine the value of properties, and knows how to negotiate with their clients.

4. It's a must to know the laws.

Part of being successful in real estate business is to know the existing laws of the state such as tax laws. Such that, if a real estate businessman does not know the laws, he or she may end up losing a lot money or worst end up in jail.

5. It is important to hire a reliable accountant.

This is extremely important to almost any type of business. This is, in reality, significant in order to succeed in real estate business because the transactions involves money, and one of the person who is skilled to analyze and interpret monetary information is a certified accountant. Through the help of an accountant, people behind the real estate business will be able to track the ebb and flow of the market.


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 story : How to invest in a cooling off real estate market

@PropertyGuide Sat 01 Aug, 2020

Posted in: #topMiamiListings

With the housing market cooling and demand for mortgage loans shrinking, banks and other lenders are turning to nontraditional and sometimes riskier mortgages to bring in additional business and make up their dropped off business.

Many lenders have turned to mortgage products designed to lower monthly loan payments and to help borrowers qualify more readily for larger loan amounts, while others require little in the way of documentation during the approval process. These loans do make it easier for some people to get mortgages, but they also can raise the possibility that some borrowers may end up in foreclosure. For the real estate investor or home buyer these market conditions represent a window of opportunity

As housing monetary value appreciation rates slow, more mortgages going into default. Foreclosure notices has edged up in recent months, providing yet Another sign of a cool down in the real estate market across the U.S. For example in San Diego County, CA. Banks and other lenders sent 1,266 letters of default to borrowers in the third quarter, a notice that gives homeowners 90 days to become current on payments before moving towards a foreclosure auction.

At the height of the real estate boom, the double-digit rises in home equity meant customers could pull out monies from the increased home equity to bask a life style that they could really not afford. Flush with the ability to tap into home equity loans, homeowners have pulled out cash to purchase new cars, furniture, vacations and other luxuries. Another boost to their life styles was rendered when homeowners refinanced using adjustable-rate mortgage loans that cut their monthly payments.

But now the conditions are changing, in many areas of the country real estate price levels are flattening out and even not rising in some real estate markets. With little or no increase in home equity, or even vanishing equity, homeowners could find themselves in a tight spot.

Additional forces are also having an impact on the housing market: New federal laws regarding credit card payments have passed to an increase in the minimum payment mandatory on credit card debt. For many people that payment will now be twice what it has been in the past. And, as energy prices and health care costs continue to march upwards to new all-time highs. Growing numbers of people are in financial situations where moines spent are exceeding monies earned.

For the first-time real estate investor or seasoned veteran, the current market conditions are a window of opportunity for those shopping to buy real estate property just before foreclosure. A growing number of homeowners have withdrawen all their equity (sometimes as much as 110% of their home's value.) and now house values have turned down and they are upside down -where they owe more than they can sell the house for. Trapped in a situation where they can't pay their debts and they can't find a buyer for their home, real estate investors who understand the default process can offer a solution that offers the homeowner in default a way to escape from their mortgage payments and for the investor a way to secure a property in the process.


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 story : Why is Florida amongst the top real estate investment destinations

@PropertyGuide Sat 01 Aug, 2020

Posted in: #topMiamiListings

Florida had three cities among the 10 fastest growing in the nation: Port St. Lucie (third), Cape Coral (fifth) and Miramar (eighth).

For buyers wanting a waterfront lifestyle, Cape Coral real estate offers miles of canals to the Gulf of Mexico, and is in great demand.

Bordered on the east by the Caloosahatchee River and on the west by the Gulf of Mexico, Cape Coral Florida real estate provides thousands of waterfront property opportunities with access to the Gulf.

Founded in 1970, Cape Coral Florida’s year round temperature averages 76 degrees. Cape Coral can very well be known as the "new Naples".

The second largest city in the state spanning 115 square miles, Cape Coral has been coined the “Venice of the West” as it hosts 400 miles of canals.

Real estate buyers can take advantage of the unique Cape Coral Florida real estate opportunity by locking in at yesterday's prices. Says one local Realtor, “Instead of saying, 'I can't afford it,' why not ask yourself 'How can I afford it?'"

Cape Coral Florida real estate provides abundant lifestyle opportunities to raise a family, start a business, or get a job with one of the new companies that have also recently relocated to the area.

Cape Coral Florida is also a wonderful place to retire with some of the best golfing and boating to be found anywhere.

Considering all that Cape Coral has to offer, it's no surprise that the Cape Coral real estate market is healthy.

Whether it is the boating, fishing, golfing, restaurants, or great weather Cape Coral Florida real estate offers, this beautiful city does not seem to disappoint.


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 story : 10 ways to buy real estate when on a budget

@PropertyGuide Sat 01 Aug, 2020

Posted in: #topMiamiListings

1. Get pre-approved for your home loan. This means, fill out a loan application and go through the process of securing financing. That way, when you’re ready to seriously evaluate real estate, you’ll know exactly how much home you can afford. And you can prove to a seller that your offer is sincere.

2. Explore creative financing options. During the home loan pre-approval process, ask about ways to get creative with your financing. Low down payment options, first and second mortgage combinations and first time buyer programs might help you afford more funding. Many lenders are now offering interest-only home mortgages; just make sure you thoroughly evaluate the terms for this type of home loan. Down payment grants are also available in some instances and might be worth investigating or discussing with your realtor.

3. Sell your existing home first. Although selling your existing home before finding new real estate to buy can be a little nerve wracking, any inconvenience will be offset by your ability to make an offer with cash in hand. Contingent purchases are not the best when negotiating to buy a home. Having your financing in order and your bags packed will give you the advantage in a competitive market.

4. Look for vacant real estate. Perhaps a seller’s job has transferred him out of the area. Or maybe a family purchased a new home before putting their existing one on the market. In any case, a vacant home could be just the deal for a savvy home buyer, so have your realtor look for vacant property in your preferred neighborhoods. And keep in mind, the longer a house stays empty, the greater your negotiating power will be.

5. Consider cosmetic fixers. If you’re handy with a paintbrush, a toolset and gardening equipment, consider buying real estate in need of cosmetic fixing. Property that lacks curb appeal needs minor handiwork or the yard overhauled could end up being the home of your dreams for a price you can afford. You just need to look beyond the ho-hum to see the potential of a cosmetic fixer.

6. Buy a home that’s a major remodel project. If you want to live on Lake Washington, but can’t afford a M home mortgage, consider buying a dilapidated cottage on a fabulous lot with western exposure. In time you’ll need to gut the existing home and build from the ground up or contract significant home improvements. But in the end your property value will skyrocket. And if your carpentry and other construction skills are well-developed, you can save even more and accrue “sweat equity” during your remodel by doing much of the work yourself.

7. Don’t discount bank foreclosures. One person’s loss could be your gain if you buy real estate in foreclosure. Although the search for a decent foreclosure may take a while, your realtor should be able help. The U.S. Department of Housing and Urban Development can be an excellent resource for foreclosed properties. Because HUD houses are sold at market value, your best bet will be homes that need cosmetic work or even major repair.

8. Land with a manufactured home. Sometimes, to buy a home on a budget, you need to look beyond convention. Even if your wish is to buy real estate, you may have to settle for a piece of property in an outlying area with a mobile or manufactured home. Discuss this option with your real estate agent and try to keep an open mind about this possibility.

9. An older, smaller home. Older homes are typically priced much less than newer construction and don’t tend to create buyer bidding wars. If you can enjoy life in an older and smaller home in a neighborhood or suburb off the beaten path, this could be your ticket to real estate ownership.

10. The cheapest house in the best neighborhood. You have your heart set on a specific – and expensive – neighborhood. Maybe it’s the schools that you’re interested in. Or perhaps it’s the close proximity to downtown or the waterfront. In any case, a budget-savvy buyer will look for the least expensive home for sale in the neighborhood. If you’re not in a hurry, you can even play the waiting game to see what properties come on the market. Your real estate agent can be a real asset in this case by investigating potential sellers.

Buying real estate without breaking your budget will require research and compromise. On moving day, however, you’ll have the satisfaction of knowing that your homework paid off!


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 story : 7 ways to select best home loan for you

@PropertyGuide Sat 01 Aug, 2020

Posted in: #topMiamiListings

A home loan will be your financial responsibility for years to come, so it can be one of the most important decisions you make. Even tiny changes in an interest rate – changes as small as half a percent – can cost or save you thousands of dollars over the term of your loan. To enjoy an affordable home, follow these seven simple steps:

1) You’d Better Shop Around!
Any market has thousands of mortgage brokers, and each broker has access to hundreds of home loan programs. Whatever your circumstances, there is a home loan out there to suit you. The more mortgage brokers and financing professionals you speak to, the more likely it is that you will encounter someone who really knows the home loan program right for you.

2) Pick out the TERMS of your loan -- BEFORE comparing rates.
Home loan terms range from 30, 40 to 50 years and some are interest only, meaning that you will only make interest payments each month and will never pay off your mortgage. Another factor to consider when debating terms is rate. Some loans have guaranteed fixed rates for the entire term of your mortgage. Other loans are Adjustable Rate Mortgages (ARMs), meaning that your interest rate will adjust after a guaranteed rate period is over. When considering terms, also think about what pre-payment penalty you are willing to accept. This penalty applies if you decide to refinance your home loan or sell the house within a certain period of time -- usually one to two years or longer.

3) Shop the rate and closing costs -- carefully
Have a mortgage broker pull a tri-merge credit report and then get a copy of the report. Take the report and a copy of your tax returns with you when visiting financing professionals. Be prepared to answer all questions honestly and be prepared to tell the mortgage broker the price range and the home loan terms you will need. Ask for two Good Faith Estimates (GFE) – one with minimal closing costs and one with standard closing costs.

4) Compare Total Monthly Payments.
Your GFEs will estimate TOTAL monthly payments on a home loan. These estimates only guess what your taxes, hazard insurance, homeowner’s association dues and other costs will be. Since mortgage brokers have no control over these costs, some will underestimate them to make their GFEs attractive. For this reason, always compare only the line item costs associated with each loan. Line items costs include principal, interest, and mortgage insurance.

5) Compare Closing Costs.
Closing costs can contribute significantly to the cost of buying a home. Some mortgage brokers will underestimate these costs to make an estimate seem competitive. Worse, closing costs and associated fees have confusing labels, making them harder to compare. In general, compare the “Items Payable in Connection With Loan” or the “Items Payable in Connection With Loan” on your GFE – these are the costs that your broker may have control over.

6) Compare Closing Costs AND Rate.
Does it make sense to choose the home loan with lower interest but higher closing fees? Or would a home loan with much smaller closing costs but higher rates cost you less? To decide, tally up how long it would take to “make up” the difference. For example, if one home loan saves you 0 a month through lower payments but costs 00 more in closing costs, it would take 10 months to “make up” for the closing costs.

7) Lock Your Rate!
Just because you are quoted a great rate, that does not mean that interest will stay in place until you are ready to buy, so lock in your rate 30-45 days before closing.

Deciding to buy a home is exciting, but choosing a mortgage can be nerve-wracking. To make a smart choice that really will support you financially, be sure to compare smart by following these tips. Then, you can enjoy your new home – with the right financing.


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 story : 7 keys to becoming a successful real estate agent

@PropertyGuide Sat 01 Aug, 2020

Posted in: #topMiamiListings

Most real estate agents want to be extremely successful. Goals are set and then the hard work begins to reach those goals. So what steps can you take to skyrocket your success as a realtor? Here are 7 powerful steps that will get you on the road to success:

1. Realize your Potential

In order to succeed as a real estate agent, you need to see that you have the potential to reach your goals.

2. Don’t Look Back

Everyone has failures or mistakes from the past. To have success in the real estate industry, you need to learn from those past mistakes and learn valuable lessons from them. After doing so, simply move forward and make better, more educated decisions from the lessons learned.

3. Dare to Dream Big

To succeed as a realtor, you need to have big dreams and aspirations. Be honest with yourself as to what you want out of life and what you want to give of your life. Allow your mind to dream and think big!

4. A Powerful Business Plan

Create a powerful business plan that will organize your strategies. This plan will be the blueprint to your success. The business plan should include prospecting, listing strategies, prospect follow up techniques, networking ideas, and ways to boost customer loyalty.

5. Don’t Give Up

To reach success as a real estate agent, you must persevere through difficult times. Even Thomas Edison had to learn this. When he was inventing the incandescent light bulb, it took him more than 10,000 times to get it right. Keep striving even when the challenge seems to be overwhelming.

6. Have an Unstoppable Attitude

You need to have determination in order to succeed as a realtor. Be wary of close friends or family members that feel it would be better if you focused your attention in another direction or career. Uphold your unstoppable attitude, determined to succeed.

7. Stop Complaining

You might think there is no correlation between complaining about you difficulties and success, but there is in fact a connection. When you spend time complaining about the obstacles you are facing in you real estate career, you're wasting so much time being negative that you are actually missing out on chances to move your career forward. Don't think of challenges as problems, think of them as opportunities.


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 story : The new trend in real estate - Luxury homes and condos

@PropertyGuide Tue 28 Jul, 2020

Posted in: #topMiamiListings

If, like most people, you are interested in real estate news and browse the headlines every now and then, chances are you might have read about it already ... and in case you haven't heard about it, then you might be very, very surprised about a new trend that may be contrary to what many people expect ...

Firstly, let's start with a few teaser questions ...

Let's suppose you had a lot of money ... hoards of it ... in early 2000, and were willing to invest it in real estate.
The question is ...

What sort of real estate do you think you would have purchased ?

Would you have purchased single family homes, multi family homes, two bedroom condos, raw land, coastal real estate, luxury homes, or ... ?

If you are trying to guess the answer, please do so now before you read the rest of the article :-)

Assuming you have your answer in mind, let's proceed ...

If your answer is been one of single family homes, multi family homes, two bedroom condos then give yourself a pat on the back ... you might have made quite a tidy amount of money ...

And if your answer is luxury homes, then give yourself two pats on the back, smile the biggest, most pleasant smile you have ever smiled ... you might have made well over a million dollars in profits :-)

For ...

<b>Luxury Homes are now one of the best performing segments in the real estate market !</b>

And what does that mean ?

Well, you might want to consider this ... according to some sources, after a decline of 7.1% in 2001, this segment gained 3.6% in 2002, 0.3% in 2003, 13.7% in 2004, and 13.2% in 2005 ...

And just what would that mean in terms of money ?

According to the Prestige Home Index, the price of an average luxury home in California's Bay Area is now .88 million - an increase of 6,000 from the previous year !

And that is more money than what selling several homes profitably might have made !

And just how many people could have foreseen this trend ? Well, your guess maybe as good as anyone else's in this regard !
While no one may be able to determine how long this trend will continue, there might be several other segments in the real estate market that might perform equally, if not better, in the future.

And one such possible segment may be ...

<b>Vacation Real Estate</b>

Another growing trend has been that people young and old have been moving to destinations like the Mexican Riviera, and are either setting up home there or are buying second or third homes there ... and gated communities are being set up in areas that were not very long ago petite little villages.

And the result - real estate values not seen before in the area ... and the values seem to be increasing too.
And how long will this trend continue ? Again, your guess may be as good as anyone else's in this regard.


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 story : A simple real estate formula

@PropertyGuide Tue 28 Jul, 2020

Posted in: #topMiamiListings

It was a simple real estate formula. The ads ran in our small-town newspaper for years before I realized exactly what was going on. They were always the same: A house for sale with 5% down and payments of 1% of the purchase price. Maybe a three bedroom home for ,000, for example, with ,500 down and 0 per month payments.

When a friend started doing the same thing he explained the process to me. It was a way to get a great return on capital, and it was the opposite of buying with no money down. There is no down payment at all when you buy, because you buy for cash.

<B>The Simple Real Estate Formula</B>

You probably know that when you buy for cash, you can often get a much better price. With no financing contingencies in the offer, and the promise of a faster closing, sellers are willing to sell for less. You can offer ,000, for example, on a house that might be worth 8,000. If you can't get it for less than, say, ,000, you walk away - there are always other opportunities.

Once you buy the house, you put few thousand into high-return repairs and improvements. These might include paint, carpet, and maybe asphalt for a dirt driveway. For our example, we'll say you spend ,000. Let's suppose the house is worth 6,000 now. You're ready for the next important step in this real estate formula.

You put it up for sale, targeting buyers who can't get financing easily. You provide the financing. Because you are making it easy for the buyer, you can get more than the 6,000 value for the home - and do it without paying a realtor's commission. Let's say you sell it for 123,000. The buyer needs a down payment of just 5%, or ,150, and makes monthly payments of 30 per month. You charge higher interest than the going rates at the banks, of course.

This is a win-win situation. Your buyer is able to buy a home instead of renting, and you get a capital gain of perhaps ,000 after expenses, plus good interest. Your total rate of return will often be over 20%!

In our town, the first to do this consistently were a father and son team of lawyers. They saved money by doing their own foreclosures when necessary. Once they foreclosed, they raised the price and sold the home all over again.

They made millions. Did you know that if you can get an average return of 18% on your money, you'll turn ,000 into more than one million dollars in about fifteen years? That's the power of a good real estate formula.


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 story : Condos - Advantages and disadvantages

@PropertyGuide Tue 28 Jul, 2020

Posted in: #topMiamiListings

Purchasing a new residence involves many issues and condos may be on your radar. Before you buy, keep in mind there are disadvantages to condominium ownership.

Condominiums – Disadvantages

Condominiums are simply a collection of units in a structure or structures. All property on the interior of the unit is yours with few limitations. Everything outside of the unit, however, is considered to be in the common areas and subject to administration by the homeowners association for condominium communities. As with any bureaucracy, this can lead to problems.

1. Parking – One of the biggest pet peeves with condominiums is parking. While this may sound petty, it becomes a big issue over time if a particular situation occurs. One would think a condominium comes with assigned parking. In many developments, however, this simply isn’t the case. Instead, parking is on a first come, first serve basis. Over time, this situation can become extremely aggravating. With guests in the neighborhood, you may eventually find it difficult to getting parking!

2. Restriction – Condominiums are all about uniformity. If you prefer to express your individuality, the rules of a condominium may drive you insane. Since people live close to each other in condos, there has to be a number of rules to keep the peace. Many condominium associations, however, seem to go overboard with rules and one can often feel like a prisoner. You may be restricted from having pets, particular types of material in your units, renting to others, making noise outside during certain times and so on. Before taking the plunge on a condominium unit, you absolutely must read the rules and regulations for the association.

3. Association Fees – Homeowners’ associations need money to keep the gardening up and so on. As a unit owner, you are responsible for paying monthly homeowners’ association fees. Before taking the plunge, you need to make sure you understand the current fees. You should also look back in time to see how much the fee has risen over time. Paying an extra hundred bucks or so a month probably will not kill you, but what if the monthly fee is five hundred dollars?

The decision to purchase a condominium can be a complex one. While there are distinct advantages, the devil is in the details. Make sure you understand what you are getting into before taking the plunge.


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 story : A primer on condos

@PropertyGuide Tue 28 Jul, 2020

Posted in: #topMiamiListings

Condominiums tend fall into the love them or hate them position for buyers. Here’s primer on condominiums.

Condominiums

Condominiums are all about communal living, which can be good or bad depending upon your personal views. This type of communal living doesn’t refer to the failed experiments of the sixties wherein hippies packed into a structure and shared everything. Instead, the modern condominium community is all about sharing common spaces as well as rules, rules and more rules.

Condominiums come in all shapes and forms. Condos can be found in a single high rise building in a downtown area or in an apartment complex type of layout in a planned community. The structure isn’t the determining point. Instead, the issue is how the properties are owned.

Unlike a stand alone home, the property lines on a condominium are the walls of the structure. Essentially, you own everything inside the condominium as your individual property. Everything outside the condominium is owned jointly with the people who own the other units. These areas are known as common areas and are subject to group rule.

Every condominium has a homeowners association in one form or another. The association has rules set out by the original developer regarding landscaping and so on. Members of the community are then elected to the board of the association, whereupon the immediately become a focal point of aggravation from individual owners and often wonder why they took the thankless job.

The problem with the association and condos in general is the issue of uniformity. If you desire to change the exterior of your condominium in some way, you must comply with the rules of the association. This means you cannot paint your property a different color, do landscaping and so on. For some people, this isn’t a problem, but others are frustrated they can’t express themselves.

When deciding whether a condominium is a good option for your next purchase, you need to carefully weigh the restrictions of a particular association. If you consider yourself an individual and want to show it, a condominium is probably a very poor choice for you.


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 story : Condos is the way to future

@PropertyGuide Tue 28 Jul, 2020

Posted in: #topMiamiListings

The prices of condos are going up in some areas and down in other areas, but one thing is for sure, condos are here to stay! Condo living looks like being the way of the future and there are several quite diversified reasons for their popularity.

One is obviously a reflection on our society - many of us just feel safer living in a close community that offers protection of some sort. There is also the fact that most condo owners live up higher than ground level and it is known that more burglaries happen in first floor condos.

A higher proportion of condos are also being built as gated communities these days, so condos offer much more security than a single family dwelling. Many condos also offer 24 hour security patrols or underground parking.

Security is a big factor for all of us, but especially older people who may feel frail. With the baby boomers reaching retirement age, the largest ever population of pensioners will be looking for secure housing.

As age creeps upon us, we want to do fewer chores and have more peace. Another reason why a condo is so appealing as most condo maintenance is looked after by the management. Being able to walk though lawns that are fed, watered and cut by someone else has its appeal, as does swimming in a pool that is always at the perfect Ph balance!

There is another reason why members of the retirement population may like condos; it is easy to find friends in the unit and to visit without too much effort. Many condos also have a balcony, which is about enough outdoors once your back does not let you do the gardening anymore!

Real gardening buffs can search out a condo block that has large balconies and grow vegetables in pots! Make sure that you are able to grow vegetation on your balconies, this 'permission' thing may be an unfamiliar idea for those who are moving from single family dwellings.

Condos always have 'house rules'. They are there to protect rather than to hinder, but they are all individually designed. Rules can be vastly different from one condo unit to another. It would be extremely important to check the rules before you make your decision to buy.

If you find a condo with the type of rules that would fit into your normal lifestyle pattern, then there will be no conflict in your new life - that is if you are planning a change!


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 story : What is a Condotel? Is it a condominium? Is it a hotel?

@PropertyGuide Thu 23 Jul, 2020

Posted in: #topMiamiListings

What is a Condotel? Is it a condominium? Is it a hotel?

Well it’s a combination of both. It’s also one of the hottest types of investment properties around the world and now available in Miami.

You buy a condominium as a vacation home within a hotel type property and the condominium is rented out by the hotel when you are not there. Many condo hotels have superior amenities like spas, health and fitness centers, restaurants and business centers.

Condo hotel unit owners can receive revenue from participating in the condo hotel’s rental program, helping to offset their ownership expenses and the surplus resulting in a annual return on their investments. The operator of the rental program, in exchange for a 40% share of the revenue, markets the units as a hotel, takes reservations, operates the front desk, staffs and maintains the entire property, and provides the services hotel guests expect, such as housekeeping, food and beverage, and concierge.

If you want the best price and the widest selection, your best bet is to purchase a condo hotel in early preconstruction stages. Nearly all developers begin selling their condo hotel units 18 to 24 months before construction is complete. One such development in the Miami is Lancaster - The Atrium which is now offering its Condotel suites for sale. By reserving a condo hotel unit at this stage, you’ll be able to pay today’s prices for tomorrow’s real estate. Of course, that also means you’ll have a bit of a wait before you can use your condo hotel vacation home, but the real estate appreciation can yield a very healthy return.


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 story : What to keep in mind when booking a Miami condo

@PropertyGuide Thu 23 Jul, 2020

Posted in: #topMiamiListings

Are you planning on booking a Miami condo for your next Miami vacation? If so, have you started thinking about what you want or what you need? If not, you are advised to start thinking. Knowing what you want or need to get from a Miami condo is one of the best ways to not only find a condo to rent, but a condo that peaks your interests.

When it comes to choosing a Miami condo, one thing that you will want to keep in mind is size. Miami condos come in a number of different sizes. It is quite common to find Miami condos that come with one bedroom or two, but it is possible to find them with even more bedrooms. If you are traveling with a large group of individuals, like a group of friends or your family, you may want to keep the size of a Wailea condo in mind. Doing so will help to ensure that you book a stay at a Miami vacation condo that can accommodate you and all of your guests.

In addition to the size of a Miami condo, it is also important to keep the cost of one in mind, especially if you are vacationing on a budget. When it comes to price, there are a number of factors that are taken into consideration when coming up with that price. One of those factors is the beach. Beachfront or oceanfront Miami condos come highly recommended, but they will cost a little bit more money than condos located a little further inland. The cost of renting a Miami condo will also depend on the size of it. In most cases, you will see that the larger the condo you need to rent, they more you will need to pay for reservations.

It is also important to keep availability in mind. When choosing to book a stay at a Miami condo, you will need to search for condos that are available when you will be in Miami. This is one of the many reasons why you are advised to book your vacation condo reservations in advance, especially if you need or want something specific. The location will also have something to do with the availability. In most cases, you will find that beachfront or oceanfront Miami condos fill up with reservations quicker than those located inland.

Availability, price, and size are three of the most important factors that you need to take into consideration when searching for a Miami condo to rent. While availability, price, and size are all important, you may also want to take your vacation activities into consideration.


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 story : Why should you rent a Miami condo

@PropertyGuide Thu 23 Jul, 2020

Posted in: #topMiamiListings

Are you planning on booking yourself a Miami vacation? If you have recently made the decision to take a trip to Miami, you may have yet to make your reservations, such as your overnight accommodations. If so, you may want to examine Miami vacation condos. Although you may have had your heart set on a staying at a Miami vacation resort, you may very well find yourself changing your mind, once you learn more about Miami vacation condos, namely what they can do for you.

Perhaps, it is best to examine exactly what Miami vacation condos are, before focusing on the benefits of renting one. Miami vacation condos are like any other traditional condo. Condos are living spaces that are found inside a large building. The only difference between traditional condos and vacation condos is the fact that vacation condos are designed for tourists. That is the reasons why they often have short rental periods, usually about a week or two. In many large areas, including Miami, it is common to find condos that are in high-rise buildings, but condos can also be found in smaller buildings as well. In fact, in Miami, you will find Miami vacation condos that come in a number of different sizes and styles.

Now that you know exactly what Miami vacation condos are, you may want to start examining their benefits. One of the many benefits of Miami vacation condos is the fact that they tend to feel just like home. For instance, condos are often compared to apartments. This is because most condos are full housed with everything that you need, such as multiple bedrooms, bathrooms, kitchens, dining rooms, and much more. You will also find that Miami vacation condos come fully furnished. Therefore, as soon as you walk in the door, you may feel as if you are right at home, instead of crammed into a small hotel room. If you are looking for a Miami vacation condo that includes a certain room, such as a laundry room or a certain number of bedrooms, you are urged to keep this in mind, when searching for Miami vacation condos.

As previously mentioned, Miami vacation condos come in a number of different sizes and styles. Many times, those sizes and styles have to do with location. Since Miami is one of the most popular and well-known of all the beach vacation, there is a good chance that you are going to Miami for its beaches. If that is the case, you may want to try and rent a Miami beachfront vacation condo. Miami beachfront vacation condos are like all other vacation condos, except for they are located along the coasts of Miami. Due to their pristine locations and amazing views, you will often find beachfront vacation condos to be considered luxury condos. These luxury condos may be a little bit more expensive, but they are always worth the cost, especially if you are traveling to Miami just for beautiful beaches.


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 story : Waterfront property, what you should know

@PropertyGuide Thu 23 Jul, 2020

Posted in: #topMiamiListings

As with any type of real estate, waterfront real estate comes with a few special considerations.

If you are purchasing real estate on the water, be it a river, lake or oceanfront, you'll want to know for certain what your rights and responsibilities are to that water and its shoreline. For example, are you obligated to build a certain type of dock? Many areas have regulations governing what type of dock can be built. Are you even allowed to moore your boat there? Sometimes your rights end at the waterline. Is your beach accessible to the public or can you limit who goes there? Can you build right beside the waterline, or do you have to have any structures a certain distance away? Be sure you investigate the maximum water levels, and research the flooding history of your area. All of this will be important in your future at your waterfront home, so be sure to get the facts before you buy, so you know exactly what you'll be working with.

Living beside a body of water, realize that it is a delicate ecosystem and be sure to consider the environmental impact of what you do. It might be best to avoid things like weed killers on your lawn if it's just running down a slope into the water. There may even be laws governing what is safe to use and what is not. For this similar reason, homes with septic systems will have special regulations beside the water. Because the water level is higher underground, follow the rules carefully to avoid sewage leaching either into the lake, into your drinking water or into your basement during especially wet times of year.

You will also definitely want to consider safety when living beside the water. Ask around about any local dangers such as hidden currents or underwater rocks close to the surface. Also rusty old boats or garbage that has sunk that could hurt unaware swimmers.

Once you've figured out everything you should know about your own unique piece of waterfront, it's time to sit back and enjoy some of the benefits. Not only will you enjoy living in such a beautiful area and taking advantage of the local recreation, you'll have peace of mind knowing you've invested in some of the most valuable real estate around.


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 story : Owning a waterfront property in Miami

@PropertyGuide Thu 23 Jul, 2020

Posted in: #topMiamiListings

Owning a waterfront property in Miami

The south shore of Miami is a more popular place to own a waterfront home than the north shore. This is because the south shore is closer to downtown and the airport. It also has quick access to much more shopping. Communities on the south shore.

There are some very exclusive gated communities on the south shore of Miami.
In 2000 there were 91 waterfront homes sold in the Miami South area. This is basically the south shore of Miami.

A could may have snuck in there that are actually on a pond or creek, but most were Miami waterfront. The average sold price per square foot was just over 1. That gives the reader a good idea of the value of a waterfront home on Miami.

Waterfront lots on the south shore of Miami have become scarce and expensive. Current Miami waterfront lot listings are priced from around 0,000 to over million.

Because south side properties have become a bit scarce and more expensive, the north shore has started to become more attractive. The north shore has not developed like the south shore has in terms of nicer subdivisions and shopping, but that is changing. Much of the north side of Miami will be from 20 minutes to an hour farther from downtown than the south shore. So anyone buying there needs to keep this in mind

There are a lot of places in the U.S. in which to own great lake property. Miami is truly one of the best.


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 story : Florida property insurance claims

@PropertyGuide Sun 19 Jul, 2020

Posted in: #topMiamiListings

Florida Public Insurance Adjusters are growing in popularity throughout Florida. Whether it is hurricane, fire, flood or catastrophe damage, more and more home and business owners are finding it necessary to acquire the assistant of a Public Adjuster because of underpaid property damage insurance claims.

Florida has been devastated by hurricanes in the past 3 years. Broward, Dade, West Palm, Monroe, charlotte and many other counties have had astronomical damage to their property and many of these hardworking people have not gotten a proper settlement from their Insurance Company. The main Insurance Company that is now dealing with these past hurricane damage claims is Citizen’s.

For the most part, Citizen’s has been a fairly honest company. They have however underpaid a portion of their insurance policyholders from past hurricane and catastrophe damage. This is where Florida Public Insurance Adjusters have stepped up to the place. Their job is to reopen a policyholders insurance damage claim and see if the home or business owner was 100% properly paid on that insurance claim.

The number of underpaid insurance damage claims is astounding. Public Insurance Adjusters routinely get 70%-80% more funds for the policyholder than they originally received from the insurance company when the claim was settled. Reopening a property damage claim is fairly simple and is well worth it for any past hurricane damage victims.

It is not recommended that the policyholder reopen a past insurance claim by themselves. It is a tedious process that should be handled by a professional if you want to walk away with the extra funds you were cut short on. Whether it is a single family home, or a whole condo association, Public Insurance Adjusters are there to represent the policyholder throughout this whole process, and more times than not, these hardworking property owners get the funds that they should have originally received.


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 story : What is business property loan

@PropertyGuide Sun 19 Jul, 2020

Posted in: #topMiamiListings

Majority of the population is involved in business today. Business requires capital investment. It is not that easy to run a business without sufficient finances. If you face a situation where you require money urgently, you tend to borrow from outside. Borrowing money from relatives could be embarrassing. Now who can provide you such a huge amount? If you think of taking a loan, you are on the right move.

As you want to invest money into your business, therefore opting for business property loans will be a wise decision. These loans can help you meet the urgency of money.

Business property loans are designed for the entrepreneurs, who want to expand or improve the existing business, raise the operating capital, purchase an asset for the business or start up new projects.

As the name suggests, business property loans are secured against a property. The security can be a worthwhile asset of the entrepreneur. It can be the equity in home, car, business premises or bank statement. The lender has the authority to seize the borrower’s property if the repayments are not made on time.

The borrower has the freedom to draw money ranging from £10000 and £10million. The amount however differs from lender to lender. The rate of interest and monthly installments are decided according to the income and repayment capacity of the entrepreneur.

Business Property Loans are also available for entrepreneurs who are going through adverse financial crisis. If you have witnessed the problem of arrears, defaults, County Court Judgments or bankruptcy, opting for the loan will help you overcome the crisis. If you make a judicious use of the loan by using it for debt consolidation you can not only clear off your multiple debts but also improve your credit score.

While applying for business property loans certain documents are to be presented for the valuation of property. Details like business profile, nature of business, length of ownership, and current income are also important in the approval of business property loans. If the entrepreneur is planning to start up a new venture, he must discuss the business plan with the lender and how will it help him repay the loan.

Numerous lenders offering business property loans exist in the market. Approaching local banks and financial institutions is quite a messy affair. They demand lot of time and efforts. Plenty of documentation work is also there.

An alternative to these physical lenders is the provision of hassle-free online lenders. Online lenders facilitate the entrepreneur with a speedy loan approval. A simple online loan application needs to be filled up. The borrower need not worry about the confidentiality of the information given by him in the application form. It remains secured.

Make best use of your property and avail easy finance. Business property loans are there to ease your financial pressures.


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 story : What to look for in a property management firm

@PropertyGuide Sun 19 Jul, 2020

Posted in: #topMiamiListings

So you are the proud owner of a vacation home – congratulations. But just as with your own home, a vacation home needs a lot of tender loving care. Who is going to look after it when you are away? And, perhaps, how is it going to pay its own way? Thoughts like these tend to push vacation home owners into thinking about appointing a property management company. So what should you be looking for in a property manager, and how do you go about finding one with the qualities you want?

1. First and foremost, you have to decide if you just want the property taken care of, or if you also want it rented out. This will determine what kind of property management firm you want, and whether you need to check their credentials for marketing your firm, or just for looking after it. Assuming that you would like your home to generate some income for you, you need to look for several key capabilities

2. A firm which will ensure the highest standards of care and attention to the fabric and contents of your property. Lots of rental income will not make up for the damage caused by careless renters. Make sure that your chosen firm will keep on top of every
• Personal check-in and check-out of every rental. Many firms take advantage of the availability of keyless coded locks to allow renters to check themselves in and out. This means that they never know who is in your property, and whether your four-bedroom home which is supposed to have a maximum of 8 guests actually has 16 grad party celebrants all over the floors

3. The highest standards of cleaning. Cleaning a property thoroughly is time-consuming and expensive. Many property management firms cut corners here, and if they do, you will eventually pay the price in worn-out carpets and other forms of dilapidation.

4. Superior marketing capabilities. Marketing vacation rental properties has become a sophisticated business these days. Make sure that the primary website on which your property will appear is ranked highly against the most popular keywords for your location. A local firm without much experience in search engine optimization may be able to take good care of your property but they won’t generate a lot of income since no-one will know that they exist.

5. Great service for guests. Look for a manager who knows how to offer excellent service to guests: arrival baskets of food and drink, pre-booking of activities, restaurant reservations etc. If guests feel they are well looked-after, they will be more inclined to come again, but also feel more of an obligation to take good care of the property they are in.

6. Great service to you. You should expect VIP treatment when you are using your own property, but also VIP service when you call up your property manager to enquire about availability, discuss renovation and maintenance issues, query your income statements or any other matter. Make sure you will always get to speak to someone senior who knows you and your property.

For a company which looks as if they know what they are doing. But make sure you talk to them in detail and go over the management contract with a fine tooth comb before you sign on the dotted line. You should expect to pay 35-50% of gross rental income to the management company; if they charge less you might want to be suspicious of what they are offering; if more, they’re probably too expensive. This may sound a lot, but remember that they are looking after your property for no fixed outlay to you, and they only make money when you do as well.


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 story : Buying an investment property online

@PropertyGuide Sun 19 Jul, 2020

Posted in: #topMiamiListings

Low down payments, no credit check and guaranteed approval. This is the convenience for many investment property buyers who choose to shop online. With the internet being responsible for dramatically changing the way people do business, it is also responsible for revolutionizing the way people shop for investment property.

A conventional loan for investment property would entail an application, credit review and complete disclosure of the applicants financial situation. However, an increasing number of real estate developers, owners and brokers are offering investment property with the convenience of owner financing. A low down payment, which is followed by regular monthly payments, may result in a prime piece of investment property. Most commonly used for purchases of land, owner financing is extremely popular for investors, first-time home builders with no credit or even individuals who have past credit problems and would not otherwise qualify for a conventional loan.

With very low down payments, which are often lower than ,000.00, many investment property sellers provide competitive interest rates and low monthly payments with absolutely no qualifying, credit check or income verification. As long as consumers continue to make their minimum required monthly payment, they will be approved.

No matter when, where or how investment property is purchased, the buyer must perform due diligence prior to signing on the dotted line. The buyer will want to make sure that he/she will receive a warranty deed on any investment property, which means it will be free and clear of any liens, and that the current owner has the full right to sell the property. In addition, it may be a good idea for the potential buyer to contact the local tax office and inquire about the most recent assessment of the investment property. This will give the buyer a good idea as to whether or not he/she is getting a bargain. If the investment property is located in another state, the buyer should request photos and even consider hiring a video professional to make a recording of the immediate area and the land for visual purposes.

When agreeing to purchase investment property with owner financing, a signed contract is a must. This is simply a contract that is drawn and signed by both parties, which will indicate the down payment required, full purchase price, monthly payments, number of payments required until payoff, a listing of pre-payment penalties (if applicable), the location of the investment property and the size and details of the same.

A valid investment property contract will confirm that the seller agrees to finance the property at a certain amount of interest and will sell the described property after a predetermined number of payments. In return, the buyer agrees to pay a certain amount each month on a specified day each month. The contract should outline the exact location, street address, size of the lot and parcel number. In addition, it must include terms regarding late or missed payments, late fees and cancellation options (if any). The contract must be signed and dated by both parties in order for it to be valid.


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 story : Condo investments, a good plan for retirement

@PropertyGuide Sun 19 Jul, 2020

Posted in: #topMiamiListings

Condo Investments in the Miami, Buy to Let rental properties are now being preferred to failing Pension Plans as more and more people and Overseas Property Investors look to the future and retirement.

With many people and Offshore Property Investors looking to start saving for retirement, the Miami with its comparative attractive cost of real estate yet high rates of Hotel Accommodations, make the Condotel investment an extremely attractive investment proposition.

Ivan, International Marketing Director for IvanAndMike, a company specializing in Condo Hotel Sales and Investments in the Miami said that many new investors are looking to replace failed pension plans and other future saving schemes with a solid investment in Real Estate.

“Many of my clients are looking for investments that will give them an income for retirement as an alternative to traditional private pension plans that have failed. Personally, I have always regarded Pension Plans as a glorified ‘Pyramid Scheme’. Most company pension plans are insufficient as are Government Pensions. Bank rates for Savings accounts are at record lows. Savvy investors are now looking for a more solid investment with potential for monthly income. Condotels in the Miami fit the bill”

This potential, high rates of rental returns from Condotel Investments, currently from 8% up to 16% per annum, opens up a huge market not traditionally looked at by Real Estate Agents and Brokers whom all so often run around like headless chickens looking for normal residential profile “buyers” without looking at the by far bigger picture of investments, investing and retirement.

“We look at Condotels as pure investments. Not primarily as Real Estate. If you look at the Condo Hotel market as investing for future income, and think outside of the box, it is plain to see that Condotels are not only real estate investments but more importantly income generating property. Think of Condotels as a Managed Pension Plan. After all, Condotel units are fully managed property. The owner of the property does not have the hassle of renting out the unit and contend with all the normal pit falls of being an amateur land lord. This is taken care of by the Condo Hotel Management”.

“One of my clients from Chicago, just purchased 4 Studio Condotel Suites. His plan is to retire in the Miami in 2012, live in one of the Suites and receive the Condotel rental income on the other three. His outlay for the purchase is only around 85 Dollars a day for 6 years by opting to purchase on a 6 year no prequalification, no down payment, no interest payment plan. Even before completing payment for the units, he will be receiving some ,500 a month in rental income in additional to any Government or Private Company Pension Plan. Better yet, the rental income is in tune with inflation and buying on preconstruction terms gives real estate appreciation of some 60-80% over 3 years. As Hotel Rates increase yearly, so does the rental income”


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 story : How to acquire a property using commercial loans

@PropertyGuide Sun 19 Jul, 2020

Posted in: #topMiamiListings

Acquiring a real estate through one’s own resources is not possible for every aspirant as it requires huge funds. In modern business world, however, buying real estate has become a regular feature since it is viewed as highly profitable investment. Commercial real estate loan has been tailored for the purpose of easy and smooth buying of desired commercial real estate either for business or investment. The borrowers can utilize commercial real estate loan in buying shops, hospitals, pubs, restaurants, guest houses, industrial units or any property that has commercial angel.

There are some requirements from the lenders that have to be fulfilled for availing commercial real estate loan. The borrower is supposed to place the title deed of the real east in consideration as collateral with the loan provider. Thus the loan is fully secured. The title deed will be returned to the borrower once the loan is paid back with interest. The borrowers are also required to put some down payment. Often the down payment is up to 20 percent of the real estate value. Rest of the amount is divided into equal monthly installments. So, higher the down payment, lower the installment amount will be.

A huge amount is at stake in real estate purchasing. Lenders can even fund £1000000 under commercial real estate loan for purchasing a commercial property. The lending amount depends on repayment capacity, financial standing and credit history of the loan seeker. Commercial real estate loan comes with an Annual Percentage Rate ranging from 6 to 20 percent. The borrowers have the option of availing the loan at either fixed or variable rate of interest. The fixed rate remains constant throughout the loan repayment duration and the borrower knows how much is to be paid towards the loan. Variable interest rate will be charged as per the current market rate of interest which may increase as well.

To repay the loan, borrowers have the choice of 10 to 30 years of repayment term to choose from. Remember that lower repayment term results in higher monthly installment amount. The loan amount and repayment term should be decided carefully keeping one’s repaying capacity in mind. Otherwise, the borrower may lose the commercial real estate to the lender who may go for its repossession.

While applying for commercial real estate loan, instead of regular lenders, opt for online lenders. No documentation and fee is demanded from the lenders when applying online. Another advantage is that you get number of loan offers in response to the application and can pick up suitable loan package having easier conditions. Before concluding the loan deal, consult a real estate attorney to avoid any pitfalls.

Commercial Real Estate Loan should be taken in such a way that it makes you financially stronger. Pay off the loan at due date so that you remain in the good books of the lenders.


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 story : 10 tips for buying property

@PropertyGuide Sun 19 Jul, 2020

Posted in: #topMiamiListings

Just because real estate prices seem to have hit a temporary ceiling in many countries around the world, that doesn’t mean that profits from property investments are hard to come by.

Even during a real estate market slowdown, stagnation or depression profits can be made locally and overseas. This article shows you the top ten tips that real estate investors apply to their property portfolio building strategy to ensure success from their investments.

1) Research the curve - the concept of a property market cycle existing is not myth it’s a fact and is generally accepted to be based on a price-income relationship. Check the recent historical price data for properties in the area of the country you’re considering purchasing in and try to determine the overall feel in the market for prices currently. Are prices rising, are prices falling or have they reached a peak. You need to know where the curve of the property market cycle is at in your preferred investment area.

2) Get ahead of the curve – as a basic rule of thumb, professional real estate property investors seek to buy ahead of the curve. If a market is rising they will try and target up and coming areas, areas that are close to locations that have peaked, areas close to locations experiencing redevelopment or investment. These areas will most likely become ‘the next big thing’ and those who by in before the trend will stand to make the most gains. As a market is stagnating or falling many successful investors target areas that enjoyed the best levels of growth, yields and profits very early on in the previous cycle because these areas will most likely be the first areas to become profitable as the cycle begins turning towards positive once more.

3) Know your market – who are you buying property for? Are you buying to let to young executives, purchasing for renovation to resell to a family market or purchasing jet to let real estate for short term rental to holiday makers? Think about your market before you make a purchase. Know what they look for in a property and ensure that is what you are going to be offering them

4) Think further afield – there are emerging real estate property markets around the world where countries’ economies are going from strength to strength, where a growing tourism sector is pushing up demand or where constitutional legislation has been or is about to be changed to allow for foreign freehold ownership of property for example. Look further afield than your own back yard for your next property investment and diversify that real estate portfolio for maximum success.

5) Purchase price – set yourself a budget that will realistically allow you to purchase what you’re looking for and profit from that purchase either through capital gains or rental yield.

6) Entry costs – research fees, charges and all expenses you will incur when you buy your property – they differ from country to country and sometimes even from state to state. In Turkey for example you should add on an additional 5% of the purchase price for all fees, in Spain you will need to factor in an average of 10% and in Germany fees and charges can be in excess of 20%. Know how much you will have to incur and factor this amount into your budget to avoid any nasty surprises and to ensure your investment can become profitable.

7) Capital growth potential – what factors point to the potential profitability of your real estate property investment? If you’re looking overseas at an emerging market, which economic or social indicators exist to suggest that property prices will increase? If you’re buying to let out are there any indications to suggest that demand for rental accommodation will remain strong, increase or even decline? Think about what you want to achieve from your investment and then research and find out whether your expectations are realistic.

8) Exit costs – if you will incur substantial capital gains taxation liability if you sell your property investment for profit, will that render the investment profitless? In Spain a foreign buyer can incur up to 35% capital gains tax, in Turkey on the other hand property sales are capital gains tax free if the underlying real estate has been owned for four or more years.

9) Profit margins – what levels of capital growth can you realistically gain on your property investment or how much rental income can you generate? Work out these facts and then work backwards towards your initial budget to work out your potential profit margins. At all times you have to keep the bigger picture in mind to ensure that your real estate investment has good potential for profit.

10) Think long term – unless you’re buying property off plan and intending to flip it for resale and profit before completion you should view real estate investment as a long term investment. Real estate is a slow to liquidate asset, cash tied up in property is not simple to free up. Take a long term approach to your property portfolio and give your assets time to increase in value before cashing them in for profit.


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 story : 5 important points to consider when buying a property

@PropertyGuide Sun 19 Jul, 2020

Posted in: #topMiamiListings

Finding a bargain investment property on paper is only half of the process of property investment. The other half of real estate investing is going down to the property to examine the real estate investment property physically for defects either in terms of the construction and legal title and other liens that can be on the property. You do not want to spend lots of legal costs later to undo the bad lemon you bought into. This article will highlight five possible things to consider when searching for your next investment property.

1. Unless you find a property that is really run down and you want to tear it down to its foundations, you want to look out for properties that might have potential electrical and water piping problems. The reason why this is critical is that, wiring and water piping is usually hidden behind walls and other furniture fixtures and repairing them can be a very costly affair since you have to hack into the walls and run the piping and wiring if the problem is very serious. If you are new to property investing try to bring a electrical engineer along with you when you are doing some property inspection.

2. Foundation problems are usually harder to spot. When walking around the property, look for cracks appearing at the side of the house and the foundation that goes into the ground. Look for large unusual holes found at the side of the property and cracks on the exterior paint of the building. You might want to bring a civil engineer and a contractor along to figure out how much it would cost to fix the property if you suspect the repairs involved will be substantial. You can also bring them along to give a “grim estimate” to the house owner and bring down the cost of the property.

3. Roofing problems can be a persistent nightmare to you and your potential tenant if you are purchasing the real estate for tenancy purposes. When inspecting the house, look around the ceiling near the windows and around the edges of the walls to look for new paint or yellow spots or cracks with water in them. Most sellers would be smart enough to eliminate the water bubbles after a heavy rain when trying to sell the property, but it is always important to figure out if there is a major leaking roof which might cost you are lot into repairing it. Use this defect to negotiate the price of the property further if you are interested in the property.

4. Another reason why the investment property in question might be a bargain might be because there are legal problems associated with it. Common ones include, multiple owners that cannot agree whether to sell or not. Litigation here would be futile and you should avoid such property once you learn about it.

Another problem might be a lack of clean title. Did you know that the seller can be selling you only the building without the land or maybe there are existing tax liens on your property or some other liens that can prevent you from getting good title to the property? Spending some time chatting with a reliable real estate attorney to learn about common real estate problems in your area can save you lots of legal problems later.

5. Bankruptcy of your seller or one of the part owners of your real estate may depending on the legal proceedings of your state affect your ability to transfer title quickly. Most states make it a requirement that the receiver of the bankrupt has to agree so pay careful attention to the bankruptcy legislation of your state. That being said, sometimes the banks are willing to sell you at a bargain so as to recover the bad debts quickly so do your homework before purchasing such an investment property.

In conclusion, these five pointers can be used as a starting point for you to evaluate your property investment. Spend some time to think rationally about the properties that you have seen and see if they have any of the above flaws and consider if you want to continue purchasing them and whether the costs that you may incur in fixing them will justify the discount of the property to the market value. Above all, take massive action today and pursue your property investment dreams.


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 story : 5 features to look for in a rental vacation property

@PropertyGuide Sun 19 Jul, 2020

Posted in: #topMiamiListings

If you're thinking of using a property rental service for your Spain holiday rental or apartment for rent, there are some key features you should look for before making a commitment. You'll want the best possible service while also earning maximum profits for your vacation rental. Here are five major features every property rental service should offer.

1. Excellent Customer Service

Your guests will remember you by the service they receive during their stay at your villa rental, apartment or vacation rental. The property rental service you choose should offer excellent customer service and be able to provide testimonials from satisfied property owners. Your guests should arrive to a clean villa, home or apartment.

If renting for a vacation, golf holiday or some other Spain holiday, each guest should receive a welcome packet including directions to the rental property as well as helpful information about the surrounding area. If you have an apartment for rent, tenants should be treated well. Rental payment collection, service maintenance and assistance with local utility and phone set-ups should be provided with friendliness and thoroughness.

2. Cleaning Management

A property rental service should provide reliable cleaning management. You might live too far away to handle cleaning or manage a maid service. If you live in England or the U.S., but your vacation rental or apartment for rent is located in Fuengirola, Mijas, Puerto Banus, or Elviria of Spain, then you'll need a property rental service that will handle cleaning with care. For holiday rentals and villa rentals, cleaning must be provided between each guests' stay and sometimes during the week of a stay as well. For vacation homes and villas, the lawn must be maintained as well. Be sure this is included with your service.

3. Key Holding, Inventory, and Detailed Necessities

You may not be able to handle local errands for your vacation rental or apartment for rent. Therefore, the property rental service should be entrusted with these tasks. Some necessities to keep the rental property operating legally include key holding, insurance, property tax and levies, building permits or licensing, bank account management, phone and utility set up and billing, etc.

Another area of importance is inventory. The furniture and other valuables in your apartment or villa rental must be kept on an inventory list and checked physically each time a guest departs. If you live in another country but own rental property in an area of Spain such as Costa del Sol, Marbella, Benalmadena or any other area, then obviously you're going to need someone locally who can check your inventory for you. Choose a property rental service that provides these types of services to eliminate worries while you're away.

4. Building Refurbishing and Major Repairs

Another feature to look for in a property rental service is whether or not they provide building refurbishing services and major repairs. The benefit of this is the provider will already have contacts to do the jobs needed. You won't have to spend endless hours trying to find a dependable contractor or handyman.

5. Promoting Your Apartment or Spain Holiday Rental

Check to be sure the property rental service will promote your apartment for rent or Spain holiday rental. Promotions will increase your number of rentals and profits each year. A property rental service may handle your advertising in local, national and international venues. If they have a website, they may promote your holiday rentals at the site. If you own a vacation rental near golf courses, then make sure they will advertise your rental from the angle of "golf holidays."

Keep these features in mind during your search for a property rental service. By choosing a service with great features, you'll have peace of mind knowing that your holiday rental or apartment for rent is in good hands!


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 story : Basics of Florida homestead property

@PropertyGuide Sun 19 Jul, 2020

Posted in: #topMiamiListings

Florida's Homestead protections are actually three distinct protections under Florida law, each with a different purpose and effect: asset protection, reduced property taxes, and protection of surviving spouses and minor children. Each is explained below.

The Florida Constitution exempts homestead property from levy and execution by most creditors. So long as the property qualifies as homestead, the amount that can be protected is not limited, which makes the Florida Homestead an excellent asset protection vehicle. Even if the purchase of the homestead was designed to defeat creditors, the protection still applies.
Under the Bankruptcy Reform Act of 2005, however, debtors in bankruptcy may lose all or a portion of the homestead protection. In bankruptcy, homestead protection is capped at 5,000, unless the debtor occupied the Florida homestead property and previous Florida homestead properties for 1215 days prior to the bankruptcy filing. Also, transfers into Florida Homestead within 10 years intended to defraud creditors may be challenged by the bankruptcy trustee.

Federal creditors, such as the Internal Revenue Service, mortgage holders, and persons holding mechanics liens on Florida homestead property are not restricted by the Florida homestead provisions.

Under Florida's Save Our Homes Act, the assessed value of a Florida Homestead is restricted to an increase of no more than 3% per year.

If a Florida resident passes away owning a Florida Homestead in his or her own name, if the resident had minor children, the minor children are entitled to the entire property, or, if the resident was married, to no less than a remainder interest in the property. A surviving spouse is entitled to no less than a life estate in Florida Homestead property. The homestead provisions can be a trap for the unwary, especially for those with estate plans drafted while a resident of another state. For example, a person owning a house in New York and a condominium in Florida may have decided, while a New York resident, to leave the house to his spouse and his condominium to a daughter from a first marriage. If the person retires to Florida as a resident and then passes away, his spouse will inherit the house under the terms of the will and then be given a life estate in the Florida condominium.


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