No Picture
Commercial Real Estate

How to Start Real Estate Investing

Many are turning to real estate investing with the hope establishing a new way to make money. Some invest because they are tired of their current career and have set their sights on becoming a full-time investor and CEO of their own real estate investing company; others just want to supplement their income, perhaps in anticipation of retirement.
Whatever the reason, thousands of people have become real estate investors in the past several years and are achieving their goals. If you want to take advantage of this industry, you should consider getting started today.
Real estate investing success is not guaranteed, but at the same time, becoming an investor is not difficult to do if you develop a plan and stick to it. Obviously, you must decide on how money you’re willing to risk on any investment, what types of properties you want to invest in, what rates of return you desire, is your plan to fix and flip property or are seeking to hold them as rentals, and so on. Moreover, consider carefully whether you will be able to devote the time to it along with handling the added stress.
If all systems are “go” and you are adequately prepared with a reasonable plan to start real estate investing, begin with caution. Do everything in your power to minimize the risk for the first property you purchase. Getting off to a good start is a great way to get your feet wet and helps ensure that your investing career is on track. Don’t expect to make a ton of money on your first investment, but be sure you crunch the numbers before you purchase and are certain you can make a profit.
Along these lines, it is highly recommended that you purchase a good real estate investor software solution to help you crunch the numbers. If you are proficient with spreadsheets, you can develop your own solution, but given the affordability and depth of rental property analysis provided in some investment software solutions, you would be wiser to purchase the software and to invest your time into finding profitable properties.
Becoming an estate investor may be the best move that you ever make because there is money to be made in the real estate industry. But you must determine what type of investor you are going to be, understand what it is you hope to accomplish, consider all the risks, and then act. At the end of the day, real estate investing can indeed become the rewarding experience you desire.…

No Picture
Commercial Real Estate

The Real Estate Purchasing Process

An agreement whereby a seller promises to sell an interest in realty by conveying a deed to the designated estate for which a buyer promises to pay a specified purchase price is known as a real estate purchase contract. The interest the seller conveys in the deed may not be a full interest, otherwise known as a fee simple absolute. If the seller is a tenant in common, meaning they own a percentage of the estate, they can sell or will that percentage of the estate to a third party.
The purchasing agreement will have to explicitly state what kind of estate the buyer is purchasing. The purchasing agreement must also convey the extent of the land being sold. If a seller has sold the rights to the subsurface of their land, to an oil company for example, then they no longer have the rights to the subsurface and must convey this when they sell the remainder of their property.
In this case, a buyer would have a fee simple absolute to the real property, house, trees, anything attached to the land, and the air rights; they would not own the rights to the subsurface of the property, though. Failure to convey the full extent of the seller’s estate, or any previously sold portions of the land would violate the statute of frauds.
Another fraud issue is whether there are back taxes on the property. The seller must convey any outstanding taxes on the property before the buyer actually purchases it. The purchase contract must meet all the requirements of the memorandum, which fully and explicitly states what would violate the statute of frauds.
In many counties, brokers use purchase agreements that have been preapproved by the local bar association and the local real estate brokers association. There are various contracts for various estates. However, a broker must often make lengthy additions to each contract to meet the memorandum requirements for each specific property. These additions are also specific to whether the buyer is pre-approved or has a loan in place.
Additions to the contracts also state from which institution the buyer is borrowing. The contract also specifically states which fixtures or pieces of equipment the buyer is purchasing in addition to the land or house. Typically, these refer to built-in appliances, like central air, but it also refers to anything that is mounted to the wall. One of the most important elements of the contract is that it specifically addresses any concerns about inspection.
While it is not legally required in all states, home inspections help determine the value of the home beyond what a person can visually determine. If a home was acceptable for purchase from what the buyer could tell, but the housing inspection determined there were termites in the walls and black mold in the basement, for example, the buyer has the right to remedy.
During this remedy period, the buyer may walk away from the purchase or renegotiate a better price to include any work that must be done to make the house habitable, or simply make standard improvements. The buyer’s amount of leverage depends on the issue found with the home and the seller’s ability to find another buyer.
During a real estate purchase, the buyer is often required to give the broker what is known as earnest money. Earnest money is simply a percentage of the sale price, which demonstrates that buyer is ready, willing, and able to go through with the purchase. This also motivates the buyer to ensure the transaction is completed. If the transaction is not completed, the buyer loses this earnest money. Typically, a buyer is further along in the purchasing process before earnest money is required.…

No Picture
Commercial Real Estate

Senate Bill 306 – How Does This Affect Short Sales?

Short Sales are confusing. But one of the more confusing things about short sales are all the rules and regulations that need to be followed in order to complete them. A recent law from the Senate is Bill 306. This bill was enacted to help the streamline the process of selling homes that are under water. Hopefully, I can lend my assistance and organize the some of the key points in this bill into a comprehensible format, so that you will have a better understanding of what it entails.
In the real estate market, a short sale is the sale of a property that is sold for less than what is owed to the bank. The bank receives all the money from the sale and may or may not return some of the funds to the borrower. Some California laws manage the real estate process. Generally, these types of real estate transactions help the banks by dodging foreclosure expenses, and stops borrowers from damaging their credit histories.
Bill 306
California Senate Bill 306 was signed in 2009. This bill helped clarify and create the rules and regulations for short sales in that state. A very important part of this bill affects the way lenders, normally the banks, deal with short sale offers. Prior to the new laws, banks were under no deadlines to answer these types of offers. The new law requires that lenders answer the offers within 21 days. So now, if a buyer makes an offer on a home that has already been approved for an underwater sale, the bank must accept the offer or refuse the offer within three weeks. Thanks to this law the process the real estate transaction is more likely to close. Making the process easier for all parties involved.
California Business and Professions Code, section 10131, states that a licensed real-estate broker must represent both parties in the sale of a property, and this includes short sales. It doesn’t have to be the same real estate agent representing both sides, but each side needs to have a real estate agent representing them. However, some parties attempt to get around this law. And so to preempt this, section 10139 of the same code states that failure to include a licensed broker during a short sale can result in fines or even imprisonment. Keep this in mind if you decide to purchase an underwater home. The last thing you need is to get in trouble with the law. This process is complicated enough as it is.
In the state of California, most people in mortgage situations expect to have a month or more of advance notice from a bank if foreclosure is imminent and short sale options are available. Furthermore, 306 includes types of properties that are owned and occupied by the borrower and that also include additional rental space up to four apartments or units. But, if the mortgage is at risk for any of these types of properties, short sales cannot be forced at the last minute.
When a licensed real-estate broker and escrow officer sign what is called “HUD1” the transfer of funds to purchase the property become nearly finalized. California law gives the banks, or mortgage lenders, four days to deny the offer, when a short sale escrow transaction is close to completion. If the lending institution does not formally deny the offer in this circumstance, the law states that the offer is automatically approved. This makes the process much quicker. since before this law a home could be in limbo for an insane amount of time But this law fast-tracks the process so sales can close significantly sooner.
There are many other regulations and rules that are apart of these Programs, but this is as simple as I can describe them. If you would like more information check the resources section of my website. Stay tuned for more information regarding HAFA and HARP. I plan on discussing these programs in the near future.…

No Picture
Commercial Real Estate

Facts to Consider Before Hiring A Property Inventory Clerk

Hiring a property inventory clerk is of excellent importance. Millions of landlords have previously benefited from this service. However, not everything is ideal and this applies to inventory clerks as well. You may encounter extremely professional clerks that have everything in order, but sometimes you might run into ‘not-so-helpful’ ones too. To ensure that you are hiring the services from the best ones out there, you have to spend some time on exploring and evaluating several factors. Once you know these aspects, you can surely create a well-informed and also confident selection.

When you are out searching for a property inventory clerk, start from searching on the internet. On the internet, you can find useful details about many clerks within your area. Also, you will some with good customer reviews, which it is possible to read to understand the aspects that make an inventory clerk better or even worse. Make sure to verify how everything is documented by the clerks, how several years the company/firm has been in business as well as how successful they have been in the past. Check whether the company provides any added features, such as photographic records, energy performance evaluation, etc.

Once you’ve confirmed the above mentioned information, go for personal assessment of the clerks. Talk to one or two and see whether they seem professional enough in the manner they talk. If these people sound convincing to you, that’s the first sign of their comfort with the job they do. You may even go to their offices immediately and satisfy some property inventory clerks in person to see if they satisfy your desires. With a few questions, try assessing the information of the clerks in their profession.

Talk to the selected property inventory clerk in regards to the way of documenting as well as presenting the proofs. Go by way of a few records that he/she already has. If you believe everything is recorded expertly and orderly, that’s another good sign. Discuss the charges for the service and also negotiate as much as you can. Getting quotes from more than one inventory clerks is a good way to avoid unneeded expenses.

Finally, if you are a landlord going to rent out an unfurnished property to your tenants, do not disregard the value of a property inventory clerk. Keeping in mind that your flooring, walls, curtains, blinds and also all fixtures are contained in the inventory list, you should not overlook the value of these kinds of useful service. Remember, the chances of having a clash while claiming damages are higher when there is no appropriate inventory record. If there exists a neutral middleman who has things documented in written and photographic form, it will be lot easier for you to claim the damages.…

No Picture
Commercial Real Estate

Long Island Masonry The Best Masons in The Business

Masons may not be easy to come by, especially if you are looking for someone to build your stone fence, your yard or something else which needs to be built of stone. Well, thanks to the best Long Island Masonry Company, masons are available whenever you need them. Note that, masonry may not be a very easy profession. In actual fact, most people stay away from this particular profession since it may be hard to grasp the skill needed to bring out an excellent masonry job. Now, you no longer need to go learn how to become a mason so that you can fix your yard or fence up, thanks to Long Island Masonry Company. We have in our list of employees the best masons in the business or simply people who can turn your stone fence into a master piece! We are just a phone call away and we are ready to help you with all your masonry related issues and emergencies.

Here at Long Island Masonry Company, we have a masonry division which specializes in creating beautiful/elegant outdoor living spaces that your family can enjoy for many years to come. If you are looking for a paving stone driveway, patio, walkway, retaining wall then we have the best masons to do the job for you. We will help you bring your dreams out into the open by actually making them a reality. We are the right company for the job since we have the best Long Island Masons in our employment. We will turn your next masonry project into a reality if you let us custom design it for you. We also specialize in outdoor fireplaces, custom stone or brick barbecues and outdoor kitchens. So whatever you need, call us right away and we will make it happen as fast as possible and also at cheap and affordable rates.

Driveways constructed from paving stones have become more popular today than in the past although their installation costs a bit more than asphalt or concrete driveway installation. Their popularity is due in part because pavers are stronger and easier to repair which in the long run makes it more cost -effective. Driveways are among the most neglected area of the home. Minimal consideration and payment are frequently expended on installing and maintaining them since some homeowners view it as only a place to park their vehicles. However, any house could have stamped concrete installed all around the patio, pool, through out their walkways an driveway and every other place that concrete can be installed. Designs can help to break up the dullness of traditional concrete patterns, particularly if you wish to improve the over-all attractiveness of your home. Well, you can contact the best Long Island Masonry Company and we will have masons ready to do what you need done.

We won’t do the whole masonry job and leave you without a clue of how it’s done. No, we will come up with different designs of which you can help us select the best for your home. So, there is no need to worry about what to do next after we are gone. If there is any repair needed, you will be equipped to do so without even calling us. In all simplicity, we are the best in the masonry business and we are just a phone call away!…

No Picture
Commercial Real Estate

Know Your Own Property

Advantages of Private Property Sale
Private real estate sales are making waves in all four corners of the world. This may be because countless people have already realized how much savings they can get if they sell their own property rather than getting a broker to do the job for them. A homeowner may be able to save thousands of dollars in commission if they opt to sell their property.
Another great advantage of private home selling is that you get the chance to showcase the best features of your home. Who else knows every corner of your house than you – the homeowner? You are the homeowner and if you personally deal with the prospective buyers it would be much more easier for them to get answers when they have questions regarding the property.
It is also very important that you invest time to get ready with your resources like important documents such as your LIM report, title and registered valuation for the property as well as the history of the property. One of the best tools to be able to entice a prospective buyer would be to discuss with them the rich background history of the property. If you get somebody else to sell the property for you, chances are the agent might not be able give details and answers to the buyers. Avoid fabricating stories just to spark interest, it’s best that your buyer-seller relationship starts off with an honest foundation to avoid conflicts in the course of the transaction.
Below are effective ways to successfully sell off your property:
Create a property profile. This is very important since this will form the foundation on how to profile and introduce your property to the real estate market. You must invest some time in creating the property profile to get good results.
In the profile include everything that made you attracted to the property and had convinced you to purchase the house without second thoughts. This way you are telling the prospective buyers the advantages of buying your house and why they should choose your house over the others.
Most importantly showcase all the positive features of your property. A skillful private seller is someone who knows how to get the message across to the prospective buyer that his property is not only the best one in the neighborhood but the perfect one for the buyer.
Spend some time writing down the advantages of owning your property this way you will not forget to mention it to your prospective buyers.…

No Picture
Commercial Real Estate

A Guide To Successful Commercial Real Estate

There’s nothing like a collection of useful tips to get someone started dealing in commercial real estate. Reading this article will help you become successful with your real estate dealings.

Regardless of whether you are buying or selling the property, it is in your best interest to negotiate. Be heard and fight to get a fair property price.

If you are considering purchasing a piece of property, be sure to investigate what the area’s unemployment rates, income levels and average property values are. A home that is in a great area, like next to good schools and parks, and has jobs available, will have a higher value than surrounding properties.

Take digital photographs of the unit. Make certain your photos highlight specific defects such as carpet spots, wall holes and bathroom discolorations.

You must be patient to succeed as a real estate investor. Make decisions calmly and slowly–don’t be in a rush to buy a piece of property. Don’t enter into a commercial venture hastily. Going too fast could result in a loss that you could have seen coming had you stopped, researched, analyzed, evaluated, and cross-checked the potential with your desired goals. It could be a year-long process before you begin to see investments in your market pay off.

Whether you want to get into real estate or you’ve been into it for a while, visit some websites that will help you find out how to invest in commercial real estate. You can never know too much when it comes to commercial real estate, so never stop looking for ways to obtain more information!

Research and learn more about the Net Operating Income, a commonly used metric for commercial real estate. In order to succeed, you should focus on keeping your figures in the positive.

For a commercial property you plan to rent out, make sure it is a solid construction with a simple design. Tenants will be eager to fill these spaces because it will be clear that they are well-maintained. Such buildings also usually need fewer repairs, which is an advantage for the tenants, as well as the landlord.

Try to keep your commercial property rentals at full occupancy. When you have an open space, you have to shell out the money to keep it looking great and running well. If several of your properties are vacant, reexamine your management style and look for ways to fix issues that are keeping tenants away.

Check out where the utility hook-ups are on any commercial property. Your business has its own utility needs, but you are most likely going to need water, sewer, electric and possibly even gas.

If you put the commercial property up for sale, have it inspected. If the inspections turn up any problems, remediate them before listing the property for sale.

Hopefully, this article has provided you with a good base of knowledge upon which to build your successful endeavor in the commercial real estate market. With the collection of tips in here that were constructed in order to help you build on your selling and buying skills, you can become that much more successful with commercial real estate.…