Tips on Making a Successful Investment in Luxury Real Estate

The real estate market always seems to be growing. Even after this ever-burgeoning factor, a typical real estate investor terms the prices of property attractive. In the midst of it, there are many investors who book losses in immovables due to their lack of comprehension about a certain aspect related to the realty market.

If you are looking for investment options in luxury real estate, dig into the following tips on making successful investment –

Analyze the plus points of location – In making your investment fruitful, the location of the property matters a lot. You must not invest in a plot or building just because it is available at low rates. The price of the asset could be low because of a number of factors, which you should analyze well before making the purchase. If expecting some handsome returns, you should judge all the aspects allied to the location. You should invest in a property that is situated at a well-connected, easy-to reside location. Buying property at a location, that has a decent connectivity from the main hubs of the urban and suburban area will be a profitable deal.

View from a long-term perspective – Real estate is an asset that proves to be lucrative if invested and kept well-maintained for a long period. You cannot become rich in just a blink. You need to wait and watch, and the value of your freehold mushrooms. Here is a secret tip: wait for at least one year, before you resell your asset.

Delve into the meaning of leasing – Many a people choose to give their property on lease. If you too are thinking over this, ask the buyer to deposit at least 20 percent of the amount. It will fall in your favor. In case the buyer defaults due to some crisis, they will lose their deposit.

Don’t go too far beyond your state – Avoid making real estate transactions in cities and states that are too far away from you. Choose a place that you can drive to every often. It would be wise to buy real estate in your environs.

Consult a certified, experienced realtor – If you want to hunt down a safe to invest location, it would be prudent to canvass with an expert real estate agent in your town. Most importantly, the agent should have a decent understanding about the site and city where you are looking to buy a unit. They will make you understand the risks and gains associated with your desired whereabouts.

In addition to the afore-discussed points, having a good knowledge about the property is of a high importance. Your real estate agent will help you know the details of your proposition.

Real Estate Tips That Will Prove To Be The Confidence In Every Decision You Make

Real estate tips are useful when you are exploring the many different opportunities in the real estate industry. Tips are good for both buying your first home and or becoming an investor within the rental industry. In order to make the best investment you’ll need to align yourself with the appropriate information to help qualify the choices you make.

There are so many different areas within the real estate market where one can find their niche and financial success. In order to accomplish this you must first get clear about where your passion lies as this will allow you to align yourself with the right sources. Finding a mentor or professional who is living the experience you want to acquire for yourself is a smart business move.

Finding an agent that makes you feel like they have your best interest at the forefront of their mind is a requirement for the success of the process. You can measure their level of dedication by how well they listen to your needs; and how that translates into the properties they want you to view.

A strong real estate professional will not only have an interest in the type of home you are looking for; but they will also inquire about the environment you want. This is a very big deal and no portion of it should be taken lightly as it will serve as the foundation on which you will live your life. Take your time is making a hasty and compromising decision could lead to unfavorable circumstances.

The same guidelines holds true for anyone interested in the investment aspect of the real estate industry as someone who is looking to purchase a home to live in. It is vital that you put yourself in your potential renter’s shoes and ask yourself if you would want to rent the property. You want to challenge yourself to purchase properties that are appropriate for the market you intend to serve.

Being an investor will also call for you to consider how you want to manage the properties you’ve acquired. There are a number of reputable property management companies that can help you both screen and maintain the grounds on a monthly basis for a small fee. Once again it is important to assess your level of commitment to the process and to only take on the responsibility for aspects of it you will follow through on.

Having a system where you are able to screen your candidates is vital. A potential renters credit history alongside their rental patterns will help you choose responsible people. While this may be a headache for you to take on under your own there are professional services that can streamline the process for you.

Real estate tips are a great resource when they speak to the aspect of the industry you are interested in. They can help you both avoid making costly mistakes and find the level of confidence you require to make the right choices. Getting the best information can be easily attained by aligning yourself with like minded people.

Tips For Commercial Real Estate Investment

Commercial Real Estate Investment involves buying commercial properties that are bigger than a 4 unit apartment building. It is that real estate investment in which an estate is rented out or sold to make profit through rental income, interests, dividends, royalties, etc. but not for primary residence. It is better for the investors who are beginners in the field to avoid commercial real estate investment strategy. On the other hand, experience investor can go for for this kind of investment as the competition is much less. It is also the best choice asset class for building wealth, you may ask why? This is because there is a limited supply of land; no more land is being created! If you select a real estate with a land component in an area of increasing population and demand, the laws of supply and demand will work in your favour to increase the value of your investment. It provides better leverage than any other asset investment, with the ability to typically borrow at least 80% of the purchase price on house and land packages. 100% lends are possible in some circumstances. It physically exists and everybody needs a roof over their head. Wherever there are people, there will be demand for real estate. Given a healthy national economy, no deflation, an increasing population, or at least increasing demand for property in your chosen investment area, then your investment is liable to increase in value over time. You may have no control over the state of the economy, but I tell you, you can stack the chips in your favour by selecting the right type of property in the right area. Commercial deals take longer than other investments. They take longer to purchase, renovate, and get sold. This is not necessarily a bad thing, but something to keep in mind so that you don’t get impatient or rush into a bad decision.

Tips to help you succeed in commercial real estate investment

This investment is not a get rich quick scheme. It takes time as I said earlier to buy, renovate and sell, so you need to be patient. Think big and embark on big investment, buy properties at least 10units, remember that the more the unit you buy the cheaper they are per unit. Be prepared to spend a lot of money at first, fight the temptation to be discouraged by this, always have in mind that you can overcome this by borrowing from real estate investment trust or other source as I mentioned in one of my articles. Predictability is required in this investment because it follows a cycle which can be predicted, with predictability you can grow. It also requires consistent and persistent. Learn to analyse properties, know the worth before buying. Before now you suppose to know that commercial real estate is the business of marketing and finance, so you have to be master of finance, learn about mortgages and interest rate, loan programs that are out there. Also you need to be a skilled problem solver for anything going on in the business field in other to excel in this investment. Finally, remember that this business is not static, it changes in strategy and other aspects, so you have to be updated in the latest information, to do this you have to continue with your education/training on this.

Thing to look for when buying commercial real estate investment property

1. Solid Land Component; Aim for an investment where at least 30% of the purchase price is comprises of the land component. House and land, villa units, townhouses, and low apartment buildings can all fit in the bill. Land is the only limited resource, and that means value for you. If you purchase a unit in a high rise, not only will the value of the building depreciate over time, but what is to stop developers erecting more high-rises and diluting the supply in your market?

2. Stable or Increasing Population; Invest in an area with an increasing, or at least stable, population base. Avoid towns which are dependent on a single industry for the bulk of their employment. If the industry folds, so will the tenants.

3. Transport, Shops and Public Amenities; Invest in an area close to schools, shops, public transport and good public amenities such as a post office, library and park lands. These are the basic factors that make an area desirable to live in and will help to ensure continued demand for property in that area over the long time.

4. Affordable for an Average Worker; Select a median property in a median area, one which is affordable for the average workers. High end real estate is prone to vacancy and busts in recessionary times. Low end real estate is less desirable, can attract a lower quality of tenant, and cost you more in maintenance. Aim for a property that will rent for no more than 40% of the average household income for that area, preferably 30% of the household income.

5. Affordability for you, the investor; Try to invest in property that at least pays for itself, that is to say that the rental income will at least cover your mortgage repayments, insurance, maintenance, management fees, local rates and taxes. If this is not possible in your area, consider alternative areas. Otherwise you can still build wealth with negative geared property.

Above are few tips on how to succeed and buy a good investment properties. Just bear them in mind when buying commercial real estate properties and I bet you, you cash flow will boom.

8 Key Real Estate Photography Tips Tricks

Equipment – What Other Equipment Should I Use?

TIP 1 – Lenses – Good glass can make a big difference in how your photos appear and appeal. If you are in the market for a new lens for your digital SLR, then look for a good quality, wide-angle lens that can, ideally, zoom down to a 10-12 mm focal length. You don’t necessarily have to opt for major brand name (e.g. Canon or Nikon) lenses. If you want to save money, there are some fine lenses made by Tokina and Sigma (to name a few). I have used both and can vouch for them. Use the wide-angle lens for all of your indoor shots. Consider a longer zoom lens for outdoor photos (especially for view shots or shots of the home taken from a distance). Something that will zoom at least to 200mm would suffice. I actually use 2 cameras with a wide-angle and a longer zoom lens permanently mounted so I don’t have to change lenses (which can introduce dust and take extra time).

TIP 2 – Flash – Sometimes the onboard flash is sufficient for supplemental lighting, and with point-and-shoot cameras, you may not have an option for mounting an external flash. If your camera does have a hot shoe, consider an electronic flash that will tilt and swivel. They do cost a bit more, but having the flexibility to angle the flash at a 45 degree angle, for example, will give you some bounce off the ceiling and soften the harsh shadows that can appear as a result of a direct flash. Additionally, adding a flash diffuser will broaden the flash and reduce the effect of photos showing a very bright center with weaker lighting on the sides.

TIP 3 – Tripod – A good, sturdy tripod is a must, especially for indoor photos where you will be using slower shutter speeds. It will support and steady your camera. Some tripods have a built in level. I prefer using a ball head on my tripod. There are heads available with built in levels. You could also purchase a small level that slides into the hot shoe of your camera. It would be OK for outdoors, but not recommended for indoors since you would not be able to mount an external flash.

Camera Settings – What Should My Camera Settings Be?

TIP 4 – Mode – Shoot in Aperture priority mode. Automatic is not recommended. With this setting, your camera will determine the proper shutter speed for you. Manual mode gives you full control, but until you are well versed in all of the features of your camera, stick with Aperture priority.

TIP 5 – White Balance – Auto white balance is usually fine. If you notice a yellow cast to your photos, try switching to an incandescent setting. If you notice a green cast under older fluorescent bulbs, change to a fluorescent setting. Sometimes you have to experiment with this until you get the desired look to your photos. Do keep an eye on the photos as you shoot, since you may need to change white balance from time to time.

TIP 6 – Aperture (F-Stop) – You will usually want to have a good depth-of-field for real estate photos (focus is sharp both close up and far away), so a higher number F-stop will give you that. F5.6, through F8 will usually be fine for most applications. Note that the higher the number, the lower the amount of light being let in which will, in turn, slow down your shutter speed. Again, indoors, a tripod is essential unless you have a rock-steady hand. Outdoors during daytime, you can get away with hand-held and higher (F11 say) F-Stop. If you don’t want to mess with it, generally, you can set your aperture at F7.1 or F8 and leave it there.

Preparation – What Can be Done to Get Ready for a Photo Shoot?

TIP 7 – Determine the best time of day for shooting. Getting a great front shot of the home is usually very important since this is often the photo that will start your MLS slide show or appear in print ads. If possible, you want to have the sun behind you for a shot of the home’s façade. Shoot east facing homes late morning, west-facing homes early afternoon. South facing homes can be shot most any time, but close to mid-day will give you fewer long shadows. North facing homes are the bigger challenge and should be shot either early morning or late afternoon so the sun is not directly over the home. Dusk, or after-sunset, is a great time to shoot since the sun doesn’t affect the photos. But they can be tricky since you have very little time to do your photo session. I’ll talk about dusk photo shoots in another article.

TIP 8 – Do a walk-through before starting your shoot. Make sure each area (indoor and outdoor) is “photo ready”. If there is anything that needs to be cleaned up or removed, ask the homeowner to do that while you go on to other areas. Adjust blinds if any glaring sunlight is showing through (or a messy neighboring yard) and turn on all lights as you go. Put toilet seats down and close closet doors. Make sure all vehicles are away from the property and not showing in any of the windows.

Are You A New Real Estate Agent? Tips to Keep You Growing

Beginning a new career as a real estate agent can be stressful, overwhelming and sometimes even intimidating. There are so many things that happen all at once; brokerage classes, preparing marketing materials, drawing up a business plan, selecting vendors and more. Here a few real estate agent tips to help guide new agents like yourself through the beginning steps of becoming a successful agent.

1. It’s OK to Start Small.

When you’re new to any project, it’s tempting to daydream about what your future successful business will look like. Then you’ll want to spend thousands of dollars to get a high end website and blog, all the glossy advertising you can manage and any other costly gimmick you think will benefit your business. The trouble is hard work and advertising alone won’t make you successful. Just like any other business, cash flow is the most critical component to success in the start up years. 

Plan for success to take longer than you expect and give yourself a margin of error. Consider the less expensive options for your start up needs and gradually work your way up to the premium items you would like further down the road. Resist the urge to overextend your finances or you may find that all the great real estate tips on the web are no help as your brand new business sinks in red ink. 

2. Hire a Coach or Find a Knowledgeable Mentor.

Nothing can replace the value of actual hands on experience gained from sitting in on a listing presentation with a successful veteran. Watching and learning from an experienced agent is one of the most valuable real estate agent tips you can get if you re just starting out. Consider working as an assistant to someone you respect and admire. And learn how to model your own practice on theirs. This will save you countless hours of missteps and years of bad decisions made in ignorance.

It would be foolish for your first experience with a listing presentation to be one in which you are the presenter. Those opportunities are too scarce and far too competitive to waste on your inexperience. Find a reputable and longstanding professional and follow their lead.

3. Be Doing From Day One.

This is the most practical of today’s real estate agent tips. It’s so easy in the early phase to plan and dream of success rather than actually doing anything. But if you jump in and get hands on experience as soon as possible you will fair much better. Call your friends and family members and let them know you’re in the real estate business. They’ll want to work with you because of the relationship that already exists, and they can be a wealth of referrals. 

The fact is that calling is hard–even to people you know. The sooner you start making calls, the faster you’ll become comfortable with them.

Hopefully these top three real estate agent tips for new agents are helpful. There is much more in depth information out there, but keeping these three at the top of your priorities will certainly help guide you along the way.