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Prepare Your Land For Sale

The common reasons why people or companies purchase land are, either to build a residence or an extension of an existing building or to keep it for investment purposes. When you own a piece of property, it will be necessary for you to decide which purpose your land is best suited for. This will help you in carrying out appropriate advertising and marketing it in the right direction. However, if you have bought a piece of land for investment purposes, then that does not mean that you cannot look for buyers. Many buyers could be interested in your land and maybe your land could be exactly what they are looking for.

Before selling your property, the first thing you need to do is to decide on particular asking price of the property. For this you will need to take into consideration the prices of buildings and properties that are located around or near your land. This will help you in getting a general idea about the cost of the properties in your area. Furthermore, you can also get a professional surveyor to come and provide an estimate cost of the property. A surveyor will carry out a complete once-over of the property’s condition, amenities offered and any repairs that are required. A surveyor can save you from a lot of embarrassment and loss, if a prospective client comes and finds faulty equipment or improper construction. If any repairs are needed, then they can be carried out beforehand, so that you can charge a nice price to the customer.

The next thing you need to decide is the marketing tactics that you plan to employ to provide you with maximum chances of success. One must realize that land cannot be used for any and every purpose. Residential properties can only be used for residences, while commercial properties are best suited for commercial activities. So, remember to market the property accordingly. Do not attempt to show the property as something that it is not. There are various methods which can be employed to get the message across that you are planning to sell your property. Newspaper articles, classifieds, bills, flyers and pamphlets are good ways to reach out to a large number of people. If not, then you can always put up a sign with your name and contact information.

Since properties can be used for investment purposes, it is necessary that you are able to get a good price for your property, so that a handsome profit can be earned by you. With proper practice of these steps you can earn for yourself a good amount of profit and live a comfortable life.

Term Benefits Of Mixed Use Development

Since the 1980’s, people have been leaving the suburbs and moving back to the city, and developers have been busy answering demands for more efficient housing – and to do this, they’ve begun to revive and reinvent an old idea.

Diversified Neighborhoods

Mixed use development means more to communities than extra coffee shops and boutiques. It means economic growth and diverse living options. Back in the 90’s, Chicago’s government began offering incentives to condo builders to provide low-income housing in every structure built. This has been largely viewed as a huge success. Other cities followed Chicago’s lead: Louisville, Dallas, Los Angeles, and a plethora of other cities have reported successes implementing the scheme as well.

Economic Growth

Not only do construction and labor costs play a role in the economic boom of mixed use development, but growing businesses have benefited as well. For most structures, the bottom floor is zoned for businesses, whereas the upper floors are used to house residents. Essentially, a customer base is already in place, which makes these developments extremely attractive to small business owners trying to get off the ground. As these businesses grow, so does the money. And because of the nature of these companies, the money stays right there in the neighborhood and cycles through the local economy.

Bringing People and Business Together

Mixed use development is unlike a standard apartment complex, where people live as strangers and usually don’t get to know each other. For one thing, apartment complexes do not have coffee shops and grocery stores conveniently placed on lower floors. In fact, a resident’s trip to a distant grocery store could actually cost the community, as the money spent is then concentrated in another city, and the community sees little benefit from it. In a mixed use setting, people shop right in their neighborhoods, meaning that the money stays within the community. This means tax revenue for the city, and the way taxes trickle down is largely determined by community representation in the city council or some other governing body. A sense of communal relations develops, resulting in an “us” attitude as opposed to the old “me” attitude. This is the kind of attitude that bonds neighborhoods together.

Mixed use development is good for businesses, the community, the residents, and the investors. Not since the 1920’s has such an interest in these developments been realized in cities across the United States. Community members are responding with enthusiasm to these developments, and experts believe that by 2018, a majority of inner city residents will live in or near structures that house both businesses and people.

Flip Houses Without Using Your Own Money

Although it is true that when you invest in real estate it is much better if you do have your own money, it is highly possible to use “other people’s money” (OPM) as your entire investment. What you need to do is find an investor who will lend you money. You will use this money to buy and refurbish the home. Then you pay that lender interest on that money.

There are actually several places you can look when you want to start doing this. One way you can do this is to take on a partner who is looking for a great investment of his own. He could be a business colleague, a friend, a relative or another prospective real estate investor. It may take a little ingenuity, but surely you can think of someone who will fit the bill. All you need is someone to finance your ideas while you do all of the real work on the home itself. Tell him you want to split any profits equally with him. Eventually you will locate a taker.

Another possible type of investor for you is known as a “hard money investor.” This person will typically lend you the money you need but charge an extremely high interest rate to you, sometimes adding points in addition to that. If you really think you have a good deal on your hands; even with the high interest rate, it will ultimately pay off for you. The best thing for you here would be to pay off the loan relatively quickly so that the dollar amount of the interest does not pile up.

Yet another possibility exists for you which might be your best option. That is to find a private lender. They are normal people; like you and I, who have more money than they know what to do with and want to invest it. They will not necessarily be looking for an investment; however if you approach them with your idea, they may well accept it. You do not have to worry about anything illegal taking place here, the money is totally legitimate. It usually comes from their mutual fund or 401(k) investment fund that keeps accumulating for them. These people often would like to find something useful to do with this money rather than just watch it sit in their bank. Again, all you need to do is ask them.

The best thing you can do when approaching somebody to invest in your idea is know what you are talking about. You want to answer all of their questions and assure them you are not planning some shady scheme to steal their money. This can be a great investment idea for both of you if you know what you are doing and play your cards right. Have fun!

Fall-Proof Your Home

There’s more at play here, and you should be aware of it to make your house fall-proof, especially for the sake of the kids and the elderly. Let’s look at how you can fall-proof your home.

Clear The Floor, Make It Easy To Move Around

Everybody cleans up their house. But, when the weekend arrives, people get lazy and the floor gets littered with things. To fall-proof your home, you must first clear the space and leave enough room for walking around comfortably. Rearranging the furniture also goes a long way towards helping avoid falls.

Especially tape the wires that are lying around, and secure the power cords onto the walls or desks. You must also take care while mopping, as slippery floors are very dangerous. Use of rugs and mats with anti-skid backings also adds to the safety.

Work The Stairs: Declutter, Repair, Light It Up

Stairs are another source of frequent falls at home. It is important to keep the staircase clear and accessible. Never leave items like books, clothes, or anything else on the stairs, even temporarily. Some homes also have pots on the stairs, which, ideally, are not safe. Repair any woodwork on the stairs and ensure the handrails are firm and well in place. It is also advisable to install lights for the top and bottom stairs.

Fix Up The Bathroom

Check for the electrical network and switches. Water and electricity together are dangerous for safety. And make sure your bathroom floors don’t retain water. In addition, install grab bars next to the commode and the bathtub. Use a rubber mat, and install stick strips wherever necessary. You can buy the latter from any home center or hardware store.

Make The Kitchen User-Friendly

Reorganize the kitchen such that the kitchen wares and accessories used repeatedly are the most accessible. If you frequently need to use jars from the top shelves, buy a grabbing tool, and don’t leave spills unattended.

Change Up The Bedroom For Safety

Generally, the bedrooms need to be well-lit. During the nights, the path from the bed to the door, and the path from the bed to the bathroom need to be visible and easily accessible. This depends on the placement of the night lamps. Also keep the telephone close to the bed and the torch nearby, in case of an emergency.

Remember that fall-proofing your home should not be restricted to the indoors. But the best thing to do is to start the process indoors. Well-lit spaces, cleared floors, and conveniently sized stairs will drastically reduce the chances of a fall.

House Flipping Tactics

While a certain amount of luck with the property market is needed to truly be successful, there are plenty of steps that you can take to reduce your risks and give yourself the best possible opportunity to successfully flip a property.

Be sensible

It’s something of a fool’s errand to run straight into the property market, no matter how tempting it may be when you see a home that looks like it is an amazing deal. Always take the time to do your research into the property. Educate yourself on the location it is in and, wherever possible, have somebody examine it before you put in a bid.

Always remember that there will always be more opportunities out there so you don’t need to snap up everything that comes your way. Doing so can be a quick route to failure and, in worst case scenarios, bankruptcy.

Know your people

When renovating a property most house flippers will need to call in external contractors to get the job done. While this involves some risk initially, especially as you search for the right mix of quality and cost, once you have found a good supplier be sure to stick with them.

Your relationships with your contractors can go a long way towards ensuring work gets done on time and you don’t run into any problems. Develop a level of trust, always deliver what you say you will and be sure to check that they do too. With trust comes a level of peace of mind that means you can more comfortably make a purchase without worrying so much about the work.

Know your finances

As unfortunate as it may be, house flipping is not something that should be attempted unless you have a large amount of capital to back up the work. The simple fact of the matter is that there is always the possibility that something could go wrong and you need to be in a set of circumstances where this won’t dissuade you from completing the project.

Speak to financial advisors and property analysts to get a good idea of the potential profit you could obtain from flipping a house and where you stand on a personal level before you make the investment. While house flipping can reap bountiful rewards, it is always something of a gamble so be sure you have enough to cover your back should the worst happen.

Plan, plan, plan

Be sure to put everything that you can down on paper in an effort to cover every possible eventuality. Know your budget, know your contractors and account for every single cost you can think of. Keep an eye on the market and even factors such as the weather, which can affect exterior work. Having a good plan gives you something stable to follow, rather than taking a bull in a china shop approach and having no idea what you need to do next.

Create Prefab Container Homes

One awesome substitute, and maybe the most mainstream today with regards to option home building, is the utilization of shipping containers as prefab container homes. With the end goal, you should see how they are made, certain variables ought to be thought about.

Designing Prefab Container Homes

Initially, you have to check with the nearby government when it is allowed to make the prefab container homes in your area. Assuming this is the case, make a point to mind relevant construction standards and grants required in your general vicinity so that there will be no issue amid the development. Present all fundamental development records for the working of your container home.

Before you begin to buy the building materials, picture first what sort of house you need and look for the assistance of an expert planner to make the outline you must. This can help you in building up the vital angles that are required for your home arrangement, such as, what number of containers are required in making a home or a two-story home. This is likely the greatest speculation you have had and you need to spend your cash admirably.

At the development site, begin evaluating work, for example, the required exhuming for building the establishment, storm water administration, septic, and utilities (electrical, water and gas supply lines). Prefab container homes should be legitimately protected so that the right temperature inside the home is kept up, not very hot amid summer and not very chilly amid winter season.

Essentially, shipping containers are made intense and solid to bear the brutal components nature brings to the table. However, when they are changed like cutting openings or evacuating boards, the auxiliary uprightness is debilitated and traded off. When in doubt, expulsion of a container’s framed groove would mishap the container and would hence must steel surrounding to outline out the next opening. In like manner, rooftop and segment backing ought to be done relying upon the rooftop/wind loads and on the span of the openings.

Develop a solid establishment. If the base is not well-assembled, everything may go into disrepair. Container homes specifically need a firm and solidified establishment to expect dampness develop. As the containers are made of metal, these containers are inclined to consumption or rust once their defensive layers fall off. You don’t need this to happen, so it is essential to have a strong establishment. Prefab container homes ought to be all around covered to evade outside surface presentation to dampness and downpour.

At long last, purchase containers from solid and legitimate shipping organizations with the goal that you will be guaranteed of a decent quality item for your prefab container homes. These homes, when legitimately set up together and adapted will give many years of conservative and agreeable living.

Start a House Flipping Project

For many first time flippers the process of actually starting the job can be almost as daunting as buying the house in the first place. It’s always important to remember that proper preparation can mitigate a number of the issues you are likely to face, so there are a few important things you should do right at the beginning of the project.

Get a survey

Ideally this is something that should be done before you have even purchased the property. A survey is intended to highlight any problem areas of the house and a good surveyor will be able to provide you with data that can allow you to better judge whether or not the property represents good value for money.

Many a novice house flipper has been caught out by not fully researching their prospective property, so it’s always important to do everything you can to gain as much information as possible. That initial outlay can be far outweighed by eventual costs if you end up discovering things that could have been found in the early stages.

Make a budget

While there can occasionally be some truth to the idiom that fixing up a house can cost you twice as much as you originally intended, by making a budget you can at least account for every possible expense that you can foresee.

Not only is this responsible planning, it also means that you have a better idea of your finances and how much wiggle room you will have if something goes wrong. Be sure to include everything, even things like the cost of gas for car journeys back and forth. If you can account for as much as possible you will always have a good idea where your money is going.

Get good suppliers

Rare is the house flipper who is able to get the job done entirely on their own steam. In any cases you will need to bring in external contractors to work on aspects of the house, such as the plumbing and gas work.

Of course, this also means that there is the possibility that you could be taken for a ride by cowboy contractors who can’t deliver the job they promised. Do plenty of research into people that you think may be reliable and always ask around before making a choice. Remember the cheapest option isn’t always the best and paying a little more for good quality is preferable to saving a little bit of cash and getting a botched result.

Have the money

Perhaps before all of these points come into play it is important to be aware that you will need plenty of money to get into house flipping. Attempting to start a project without having the finances can lead to ruin, as jobs won’t get completed and nothing will ever happen with the house, which in the worst case scenarios could lead to bankruptcy. Always ensure that you can still remain comfortable whether or not the project is a success and never bet the bank on the market.

Identify Emerging Real Estate Markets

This allows you to get in early and support the growth of the market, while also ensuring that you are in a position to make as much money as possible form your initial investment.

Of course, that sounds far easier than it actually is, as it is not always easy to see where the next market is going to emerge and it can often be difficult to get all of the pieces of the puzzle to align so that you can take advantage of it.

Here we will look at a few tips that will serve you well when you are considering your investments.

Take Away Personal Taste

If you are looking to invest in property, the first thing that you need to do is take away your own personal tastes. After all, the property isn’t intended for your own use, so what you think about it is actually not all that much of an issue.

Instead, try to consider how the property fits into the surrounding area and if there is going to be a demand for what it has to offer. Cheap apartments, for example, may not be to your personal taste but they may well serve a purpose to the area in which they are being built. Put your business head on and try to see the big picture in terms of how the market looks in a particular area.

Get In Early

The term “emerging” is important to consider here, as your investment will be worth less if you jump on a bandwagon that is already well-established. Keep your eyes open for news of potential investments and try to get on board at the earliest possible stage, so that you can reap the largest rewards at a later date.

Of course, this doesn’t just mean that you should invest in everything that is just starting up. Consider the reputations of the people behind the project and their previous successes. Be sure to meet with them to discuss their plans and the research they have put into the project, and be very wary of anybody who is not willing to speak to you directly but still wants you to invest in their venture.

Know The Local Market

The property market is extremely complex, with national cycles not always matching up to the way that the market is going in various localities. As such it is extremely important that you do the research into any area that you are looking to invest in and, just as importantly, you keep on top of the changes in that market that are always bound to happen.

Simply put, you are not going to make any money if you invest in a project where there is no demand. Find out if the area is a renter’s market, or a comfortable place for people to purchase a first home and look for upcoming projects that will satisfy that demand.

Sell A House And Lot

Selling a property is crucial but if done with proper documentation, legitimacy, good faith and consent of both parties buyer and seller, transaction will complete in due time.

In my own venture, it took around ten months more or less to sell a house and lot of the transfer of property from parents to heirs of a clean title. You can seek the assistance of a broker, a lawyer, or a realty firm, among others, to help you with the processing of papers. Each office takes two, three or a month to stamp approval or release.

In the process of documentation, you need a set of photocopies of applications, receipts, affidavits, claim stubs, and other certificates. Label them in safe folders and keep in a bag so any time an office requires a copy, you have one available. Should a file be lost, certified true copies could be sought from the proper government offices.

Here are three steps from Attorney Glicerio Alarkon Jr. (San Beda College of Law), of whom I sought help for my papers.

“1 Settle the estate tax where the property of the decedent is located at the Bureau of Internal Revenue.

2 Secure a new title under the heirs at the Registry of Deeds or Land Registration Authority.

Before securing a new title under the heirs at the Registry of Deeds, you have to pay the transfer tax at the City Hall.

3 After all these steps, the property is now ready for sale!”

So after the lawyer’s advise, here is how the papers got processed selling a property. To save on brokers fees, I worked on my own selling a house and lot.

Initially, before step one, real property taxes must be paid every year, but if taxes have accrued and the interest charges are onerous, owners can claim and wait for a tax amnesty or pay in installment. Keep real property tax receipts.

In step one, once the estate tax have been paid, the Bureau of Internal Revenue will issue a certificate authorizing registration. From here, you can go step two.

Other documents you may need are publishers affidavit, an extrajudicial settlement of estate, tax account numbers, government identification cards, valid identification cards, and a special power of attorney from the Consulate General of the country where the other heirs reside if the heirs are living abroad. For example, our extrajudicial is from the Consulate General of the Philippines in San Francisco, California, USA. Also, death certificates of parents, and sometimes, birth certificates of heirs from the National Statistics Office have to be prepared. Save some money for notary fees and transportation, among others.

The last step is the Deed of Sale. With this, the seller should pay the capital gains tax. Payment of the property can be made in cash or check. However, verification from the bank is necessary, if payment is in check. You will need a lawyer to help you during this transaction. Also, you will need the bank’s assistance for safety. Should the money be of material amount seek the help of a police officer. Truly, the help of good workers!

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Note Buyers Can Help Struggling Homeowners

The Hardest Hit Fund was established in 2010 to provide $7.6 billion in targeted aid to 18 states and the District of Columbia. These unlucky 19 were hardest hit by the collapse of the housing bubble and the ensuing Great Recession.

Each state (and D.C.) created its own program to administer the funds, which were targeted to help their residents avoid foreclosure, stabilize neighborhoods and eliminate blight.

So how is this related to the note business? Well, these distressed homeowners have been skipping payments for in some cases years and have a huge debt to repay with interest. The fund will pay off all the arrearages (up to a maximum of $30K) and in some states it can pay for as many as 12 future payments. The money is paid directly to the bank, the lender, or in our case, the note holder.

The delinquent promissory notes that were signed to buy the houses are now called non-performing notes (NPNs). Since they’re currently not producing a reliable income stream, they are sold at a deep discount to their face value.

If you can buy an NPN in one of the Hardest Hit Fund states, there’s a chance the borrower could qualify for these funds. If they do, it’s a big win for them to get that huge financial burden off their backs. And of course it’s a win for us to finally receive free money from the Feds.

The problem is getting the borrower to even apply for the grant (if they’ll return your calls). You’d think that anyone would be willing to fill out a few pages in order to get relief from thousands of dollars in debt, but you’d be wrong. And then, not all applications are accepted, so there are no guarantees even if they do apply.

In spite of that, I target Hardest Hit Fund states when looking for NPNs in the off chance I can give someone a boost and get paid for it besides.

Even if we can’t use the Hardest Hit Fund, we can still help the homeowner in at least two ways. First of all, we can just forgive all the debt they accumulated from the original note. That will help them sleep at night again and it wasn’t our money to begin with. Then we can write up a new note that they can actually pay on a monthly basis. That way they get to stay in their home, and we’ve just created a cash flow for ourselves. Once they’ve made twelve payments we can easily sell it as a performing note if that’s our model.

Even performing note investors may need this information one day. People are still getting laid off or sick or divorced, so there’s always a chance a note that’s been providing regular payments could become non-performing in a hurry.

Les Goss is a real estate investor in Colorado Springs, Colorado. He has years of experience buying and selling single family homes, fourplexes and apartments. He is now focused on performing and non-performing notes.