property Archives - A Million Lives

April 27, 2019 by Greg Underwood

TIPS FOR SUCCESSFUL PROPERTY VIEWING

Are you looking for a better place so you can move out? Have you been checking apartments for sale in Downtown Dubai? Well, this article is just for you!

If you are trying to find the house/apartment of your dreams, you can make a quick five-minute look around the property and then leave. Who would want to make one of the biggest purchases and decisions of their life based on a quick judgment? No, sir!

This property viewing must be effective, a well-spent time, or you could end up missing something that will probably make you regret some of your decisions in the future.

So, here are some tips so you make sure your property viewing was a total success!

1. TAKE YOUR TIME

Top real estate brokers in Dubai recommend to take your own time in property viewings and try not to book many viewings within a small time frame, so you don’t feel rushed while checking out your future home.

The recommended time to check the inside of a property ranges from 20 to 30 minutes, and even more (if you really need to), and another 20 minutes to look around the outside and taking a walk around the area. Don’t let the real estate agents rush you, take your time.

2. DON’T GO ALONE

The more pairs of eyes you have available looking around your potential investment, the better. Going alone to a property viewing usually ends in the customer getting led around by the realtor and listening all the “great” features the property may have.

Even if you’re planning to buy a property by yourself, taking someone with you is always a good plan.

3. DON’T THINK OF IT AS YOUR HOME

Leave any emotions you may feel about a property at the doorstep and start thinking in terms of what’s better for you and your interests. You will have a hard time having an objective opinion of a place if you already feel some attachment or emotions towards it.

Don’t force yourself to like a property, you have to make sure everything is right and what you’re looking for, which takes a critical eye.

4. VIEW AT DIFFERENT TIMES OF THE DAY

Top real estate brokers in Dubai also recommend that you should have more than one viewing of a property, so you make sure you are absolutely in love with the place.

Book one viewing for the daytime and one for the evening, as it will allow you to see how the property is at different times of the day and give you a better impression of what the neighbourhood is like in the evening. Viewing the property at multiple times also give you the chance to ask any questions you may have after your first viewing.

That apartment in CityWalk Dubai or the other one at Meraas Bluewaters residences which you’ve been eyeing since a long time is waiting for you! Just remember some of the tips above and you’ll find the home of your dreams.

May 30, 2018 by Greg Underwood

Houston Real Estate Attracts Many Buyers According to Al Hartman

Houston is one of the fastest growing cities in the country. Indeed, according to the US census Bureau, it ranks in the top 10, just behind some metro regions such as Atlanta, GA. According to Al Hartman, who has worked in Houston real estate most of his life, there are a number of particular things that make the city so appealing.Indeed, it is because of those things that professionals like him have faith in the idea that Houston will continue to grow even if there is an economic downturn.

Al Hartman on the Attraction of Houston

There are a number of things that make this city so attractive. Those include:

Its economy. Even during the last economic crisis, the metro region around Houston continued to thrive. The reason for this is because there are so many different industries that operate within the commerce of the city, including manufacturing, shipping, computers, energy, and aerospace. Additionally, the city is known to aggressively attract new employers and new industries. This is why the unemployment rate is almost always low here.
The cost of living. Texas does not have state income tax and Houston does not have local income tax. Additionally, prices are much lower than in various other national metro areas. The result is that a lot of people are interested in the proposition of living here. It is quite possible to enjoy a comfortable life even on a budget. Compared to other metro regions, housing costs are also surprisingly low, with some very nice properties costing less than $200,000, something that almost no other region can replicate.
The weather. Houston is pleasantly warm all year long. It does have its own seasons with slightly colder winters, but compared to areas further in the north, even the winters are mild.
The opportunities period last but not least, Houston and its metropolitan area is incredibly diverse, expensive, and vast. No matter what someone likes to do, they know they can find it here. People can enjoy the great outdoors, take part in notable educational experiences, watch professional sports, immerse themselves in the arts, and more.

It is clear to see why Houston is such a fast growing city. Anyone interested in relocating to Somewhere new and interesting should really take it into consideration. That said, it is important to do so sooner rather than later, as there are always opportunities to be missed as they are being taken up by others. Real estate prices are affordable, jobs are available, educational places are still free, but how long this will continue is anybody’s guess.

I’ll heartburn at faith in the fact that people will continue to come to his favourite City. Indeed, it has done very well throughout various Economic downturns and there is no reason to suspect the next one will be any different. Additionally, opportunities exist both for established professionals and for entrepreneurs who want to look at start-up businesses. The time to come to Houston is now!

May 7, 2018 by Greg Underwood

DIY or Don’t: Buying a House Without a Realtor

If you’re considering buying a house without a realtor, then check out these pros and cons before you decide if it’s the right choice for you.

We’re now living in a time when there are more people who rent than own a home since 1967. Some people choose to rent because they don’t want to be tied down.

Others don’t want the hassles of maintaining their property. But many erroneously believe that they can’t afford it. Turns out, in the long run, they would save more money by buying a home.

If money is a concern, it’s worth considering working without a realtor. However, cost shouldn’t be your only concern when buying a home.

Here’s what you need to know to make a decision on whether you should consider buying a house without a realtor.

Buying A House Without a Realtor Facts & Fiction

There are a few myths flying around that make some people feel as though buying a home without a realtor isn’t a possibility. It is, but be prepared to do a lot of work.

Some people feel as though they won’t be taken seriously as a buyer if they are buying a home without a without an agent. That’s not entirely true.

While some sellers may prefer to work only with people who use a professional realtor, others might actually welcome the chance to cut out the middle person in the transaction.

Also, many buyers believe that if they make an offer without an agent that the seller’s agent will just keep the extra commission. Unfortunately, if you’re not careful, this can happen.

It’s common for listing agents to have contracts with their clients that contain variable commissions. Often that means that if the buyer isn’t using an agent, the listing agent automatically gets the leftover commission.

Apply For A Mortgage

Not everyone needs a mortgage to buy a home, but most will.

And whether you’re buying a home without an agent or with one, you’ll still need to apply for a mortgage. It’s an important step because it lets you know what your budget is for home buying. But there’s a lot of paperwork involved.

To make it easier on yourself, gather up all pertinent papers as your first step. Then do some research to find the best place to get a good deal on a mortgage.

Check Your Credit Score

Your credit score is definitely going to come into consideration when you’re applying for a mortgage.

Check your credit score. If there are any errors, take the appropriate steps to clear them up immediately. If there are some red flags but they aren’t from errors, do what you can to improve your score as soon as possible.

Putting yourself on a budget and taking steps to lower your current debt will go a long way towards helping you buy the home of your dreams.

Research Where Homes Are For Sale

Figuring out where the homes are for sale is the hardest part of buying a home without an agent.

Real estate agents have access to a great network that enables them to know where all the best houses are. They can use their system to narrow down your search and help you find a home quickly.

When you’re buying without a realtor, there’s a lot more work for you to do.

Where To Find Your Dream Home

To start your search, try looking at real estate magazines. However, if you’re not working with a realtor, you can only use the magazines to find homes for sale by owner listings (FSBO).

An easier search is to go online and search classified ad sites like Craigslist. You can also take a look at other online real estate websites to find out where homes for sale are listed.

Sites like Trulia.com and Zillow.com maintain a database of homes in the United States. You can even perform searches based on parameters such as location, price range, and even layout.

For homes in outside the US, try searching sites like Fab Property Spain.

Check local newspapers to find homes listed. Look in both the classifieds and real estate sections.

Take a drive through the neighborhoods you are interested in buying. Look to see if there are any FSBO signs which list the seller’s numbers on them.

You can also spread the word to friends and family both orally and on social media that you’re looking for a house.

Contact The Homeowners To See the House

Once you find a home you’d like to view, it’s time to contact the owners.

Before you go all the way over to their home to view it, take the time to ask the seller’s a few questions. It will save you some time.

If you have kids, some questions to ask are about the schools and whether or not there are other kids in the neighborhood.

Also, ask about the current condition of the home. Then ask about any repairs made on the home. Ask the seller’s what is included in the sale of their home.

You can also ask about noise levels, problem neighbors, and if they’re willing to let you make an offer on their house if you’re not using a realtor.

How Using A Realtor Saves Time

If you’re extremely busy, then consider hiring a real estate agent.

They can take the time to schedule when it’s good to see the home. They’ll also have the answers to many of the questions you have about the home.

Also, the realtor might have access to additional photos of the home so you can view it without actually stopping by the home until you find one you truly love.

Determine Whether The House Is Worth The Asking Price

Once you’ve selected a home that you love, it’s time to learn how to make an offer on a house without a realtor.

Here are a few ways to evaluate a home’s value without using a realtor.

Hire an appraiser to evaluate the property. While it will cost you some money, the appraiser will perform a thorough assessment of the home.

She or he will also provide you with the required documentation your mortgage lender needs before you can purchase the home.

You can also turn to the internet. Ther are home value tools which have you input the home’s specifics in order to obtain a likely estimate of the home’s worth.

You’ll find quite a few free home value calculators available online.

Try doing a CMA (comparative market analysis). The CMA takes the structure of the home, the property it’s on, and the neighborhood the home is located into account in order to provide an accurate figure of the home’s current value.

You can perform a CMA yourself for free on websites like RedFin.com.

Hire A Real Estate Attorney

Whether you are buying a home with or without an agent, you will still need to hire a real estate attorney.

A real estate attorney will handle all the necessary paperwork to ensure the final sale of the home. When you’re buying a home, the seller enters into a brokerage contract with a real estate attorney.

They handle the transferring home’s title and property from the seller to the buyer. While it may seem simple, trying to buy a home without using a real estate attorney using means.

In the typical home purchase, the seller enters into a brokerage contract with a real estate attorney.

Their job is the process the paperwork and then transfer the title and property from the seller to the buyer.

It is never a good idea to try to sell or buy a home without using a real estate attorney. There are too many possible problems that can arise due to sheer ignorance on the part of both the seller and the buyer.

Make An Offer

Once you’ve found the home of your dreams, it’s time to make an offer.

The amount you offer the sellers may be more or less than their asking price. Much of it is determined by the current condition of the home and how sought after the property is.

If the home was recently put on the market, there is usually more than one buyer interested in making a purchase. If you have competition, be prepared to up your offer.

But there are also times when the seller is asking for more than what you feel the home is worth. It’s not uncommon to put in a bid for less than the asking price based on the current condition of the home and also how long it’s been for sale for.

Your real estate attorney will draw up the terms and then present the offer to the sellers. Be prepared for the sellers to begin a negotiation rather than accepting your offer.

Draw Up A Sales Contract

Once your offer has been accepted, congratulations!

But it’s not over yet, your real estate attorney needs to draw up a sales contract which both you and the seller need to sign. Once everything has been signed and the money and title have been transferred, you are officially a homeowner.

Now it’s time to make your new house a home.

Choose DIY

If you’re too busy, have no interest, or feel you can’t handle doing everything on your own, hire a real estate agent. Just make sure you feel comfortable with them and trust them.

But choosing DIY means that if you’re capable of buying a house without a realtor, you can pretty much do anything you want.

We’re inspired by you. We believe you’re limitless in your possibilities. But of course, you need support and ideas. That’s where we come in.

Keep reading our articles to learn how to do anything DIY.

May 7, 2018 by Greg Underwood

Everything You Need to Know About Investing in Turnkey Properties

As with any investment venture, turnkey real estate can bring in lots of money, but only if you’re savvy about it. Read on to learn everything you need to know about investing in turnkey properties.

If you want to invest in real estate as a passive investor, you should learn about turnkey properties.

When you buy a turnkey property, you go into business immediately. You don’t hunt for foreclosures to buy. You don’t remodel a property to make it liveable. It’s ready to rent.

The term “turnkey” comes from the idea that the only thing necessary is to turn the key and unlock the door to start. That’s an appealing proposition for an investor.

Yet, not all people define turnkey in the same way. That’s why it’s important to understand turnkey investing before you spend your money.

Keep reading for information to help you make smart investment choices.

How Does Turnkey Real Estate Investing Work?

As the housing market continues to improve, firms specializing in the turnkey real estate are rehabbing properties to sell to investors. They renovate properties before they’re even listed for sale. Often, there’s someone renting the space when it’s sold.

This works because many investors want to buy properties that don’t need to time or effort to rent.

Sometimes, the same company that renovated the property also serves as property manager for the investor. The property management services include dealing with renters and repairs.

Turnkey investing appeals to investors who live in expensive housing markets. When they can’t find affordable properties in their own area, they buy units somewhere less expensive.

For example, an investor in New York City may buy rental buildings in small towns far from the city to generate cash flow.

So far turnkey investment sounds easy, doesn’t it? But it’s more complicated than buying units and collecting cash. Let’s dig deeper.

Evaluate the Property Before You Buy

Are you going to invest in commercial real estate or single family homes? There are pros and cons for both types of property. However, each type of property requires careful evaluation.

While it’s true a turnkey home takes less effort than other options, you should invest your time in research before you buy.

The first question should be whether the property is a good value. Don’t assume the seller defines turnkey the same way you do. Not all homes labeled turnkey are worth the asking price.

You should visit the house or apartment building before purchase. Don’t rely on photos or descriptions. Treat the transaction as the major investment it is. See the property in person, so you know exactly what you’re getting.

A personal visit to the property lets you assess the building and the neighborhood. The location is a significant part of the appeal. A beautiful property in a terrible location may not be rentable.

In addition to your survey, hire a professional home inspector to check the electrical, HVAC, and structure of the building. It’s easy to be impressed with renovated kitchen and baths. But you need to know things like the roof are in good condition

Get to Know Your Property Manager

When you hire a property management company, you trust them to do a good job. The property manager should listen to tenants and handle problems quickly and efficiently. A good property manager keeps your building filled with tenants.

A bad property manager doesn’t handle problems — from plumbing to tenants — before they get worse.

Research the property management firm. Ask for referrals from other investors. Visit other properties the firm manages. Get answers to the following questions before you hire anyone.

How Long has the Property Manager Been in Business?

You want an experienced operator with a solid track record. An inexperienced company is practicing with your money.

That’s not what to pay for their learning curve. Always check how long the company has been in business. Check on the company selling the property, and well as the property manager.

Does the Firm Have Experience Handling Similar Property?

Find an experienced property manager who has done what you want to do. Ideally, the company you hire has a portfolio of rental property. This shows they have firsthand experience and know how to succeed.

Property management is more than buying a building and renting it. You need to invest in the right neighborhoods, at a profitable price point. Renovations must match what renters in the area want.

Hire a property management firm with similar properties in the same area.

Will you Receive Monthly Statements to Track Expenses and Income?

Does the company have up-to-date software for the property manager and renovation team? Will you receive accurate and timely reports? If the management company doesn’t have the right software and systems, they won’t be able to serve you.

How Long Does it Typically Take to Find a New Tenant?

There are no guarantees in real estate investment, but there are parameters. An experienced property manager will know how long it takes to rent a unit.

Make sure your property manager follows best practices, like tenant screening. A tenant screening report can take a few minutes or a few days. It depends on the information requested, and the screening company. Some screening companies offer accelerated reports for an added fee.

All reports should include character references, rental background, and employment. Work with your property manager to pick your tenant criteria.

If you buy a property in a good market near jobs, people will rent your units.

What are the Property Management Fees?

The fees should be clear and provided up front. Period.

If fees are based on market rents, be aware there’s always a range. A property manager may say the unit will rent for $1,000 a month. However, you should always have a low and high estimate of rent. Local variables can affect the rental price you get.

Meet in person, tour other properties the firm manages, and get client referrals. Do this before you sign an agreement with the property management company.

Consider reading Investopedia’s Guide to Hiring A Property Manager for more information.

Determine the Ownership Agreement

Most turnkey real estate companies sell the home outright. But, some may want to create a limited liability company or corporation. Then, they ask to become a general partner, so the turnkey company is on the property title.

The reasoning is if they’re on the title they can make repairs without approval. It sounds good in theory, but it’s wiser to create a separate expense account.

The property manager can use it for minor repairs and preventative maintenance. Keep your name as the sole owner on the property title.

Be Aware of Drawbacks

Turnkey properties sound like an easy way to earn extra revenue. But, real estate investing isn’t for everyone. It’s important to realize there are pros and cons.

There’s always a chance for problems. Fire or natural disaster can damage property. The city may have a sudden property tax increase. Real estate investors need to deal with surprises. Sometimes that means having extra cash on hand for repairs.

It’s also important to look at turnkey properties as a long-term investment. If you aren’t ready to commit for years, you may want to invest elsewhere. Plus, real estate isn’t as liquid as other investments. It can take a long time to sell a property.

The Value of Turnkey Properties

Real estate can be a very profitable investment. In most cases, it involves a lot of work. Rental properties require money, time, and renovation skills.

Then, after the property is ready to rent, you have to find tenants and manage everything. You can definitely make money, but you have to work hard for it.

Turnkey properties are a good alternative for people who don’t have the time to renovate or maintain a property. The tenant-ready units appeal to people who want to invest without being the landlord.

High Return Real Estate makes the investment process simple, profitable, and convenient. Contact them to learn more about turnkey rental properties in Indianapolis.

When you invest in a turnkey property, you’ll pay a premium for homes in move-in condition. The potential profit won’t be as high as for people who flip older units themselves. You also pay someone to manage the property. Yet, successful turnkey buyers can generate substantial profits.

Invest in Rental Turnkey Properties Now

When you invest with an experienced turnkey company, you benefit from their knowledge. An established firm offers networking, experience, and valuable resources.

They’ll show you how to get the benefits of a profitable real estate investment without the expensive and time-consuming parts. They do all the work so investors can enjoy a lucrative passive income.

Are you looking for more ways to generate income? Visit our blog for more money and business hacks.

Leave us a comment if you have any ideas.