Guidelines to Buying Residential Property Investments for Sale

property-investmentsIf you’re planning to buy residential property investments for sale then you’re up for a good amount of work. These things are not your usual grocery items that you can pick and throw into your stash in a jiffy. You’ll have to be smart and you need to be cautious. Here’s a little guideline to help you get through unscathed. It’s a battlefield out there with everyone wanting the best deal.

  • Be careful of what the heart says. – Many buyers make the mistake of getting their emotions mixed up in the process. Sure, you’ll want to get a residential investment that you actually like but you must also consider what you really need and what you can afford now and in the future.
  • Get yourself pre-approved. – Fund sources and methods for an investment as huge as this will take time to process and even more to get approved and released. This is why it is wise to get yourself pre-approved. You’ll save a lot of time plus you won’t have to worry about money coming in late.
  • Have the asset surveyed. – A chartered property surveyor is a professional hired for a number of reasons but chiefly to help validate information and bring out important details about an asset that will affect your decision. For instance, they can look at any available dilapidation cases, liens and encumbrances, wall disputes or ownership issues. They can also provide an estimate of ongoing costs. Likewise, they can compute for the actual market value and depreciation. There’s building integrity and condition too, safety, appreciation potential and the list goes on.
  • Strengthen your financial score ahead of time. – If you plan to acquire in the next year or months then you have to make a conscious effort with your spending. Avoid any large purchases and even borrowings. You’ll need quite the attractive paper trail that proves your creditworthiness should you get a loan, a mortgage or something similar for the property.
  • Take a look at your surroundings. – We all know that location matters but apart from that, neighborhood will play a role too when buying residential property investments for sale. Are the neighbors cool or are they unsightly and rude? Are there any significant establishments and structures nearby like hospitals, groceries, malls, schools, transportation outlets, roads and all that? How about the crime rate? Take a survey and don’t hesitate to ask around to get a feel of things.

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Expert Tips in Proper Investment Property Upkeep

property maintenanceMaintenance plays a huge role in the upkeep and value preservation of any investment property. Failure to take care of this type of asset can be financially hefty. As they say, prevention is better than cure and the best way to avoid the dilemma is by practicing proper upkeep from the very beginning. Don’t worry, we’ll tell you how.

  • Always allot a budget for it. Repair and maintenance is expected every year and all throughout the life of the property. Skipping on them may seem cost efficient at first but in the long run they only lead to worse conditions. The solution is to always budget it in.
  • Check the windows for any cracks. If any, make sure to repair them immediately. Water can get into the jamb and rot the structure from the inside.
  • Check for any water leaking in your toilet. Leaks are expensive as they will shoot up your utility bills plus it can hasten the wear and tear of the bathroom floor as well as the internal workings in the structure. But this is tricky considering that the bathroom is normally wet. Here’s a tip, use food coloring. Place a few drops in the toilet tank and leave it be for a day. If you see any of it in the floors then you my friend have a leak to fix.
  • Replace washers regularly. These are the main cause of leaky faucets. They’re not as hard or expensive to replace either.
  • Never throw oil and fat-based products and food down your drain. They are one of the common causes for clogs as they tend to grease the surface of the pipes. They can be sticky too which explains why dirt and other particles will stick into your drain. If accidents happen and oil, lotion or something like it has spilled, immediately pour dishwashing liquid and quickly follow with hot water.
  • It would be best to get a strainer to keep not only the oils but also things like hair, food and other small items from falling into the drain.
  • Have your chimney or fire place cleaned at least once or twice a year. The same applies to other appliances like heaters and air conditioning units but they must be inspected and cleaned more often, monthly would be best.

If you think about it, the above investment property upkeep tips aren’t that hard or costly so why not do it?

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Characteristics of a Bad Property Investment

warningYou’ve probably already researched and read tens and thousands of articles and advice regarding property investments from types to myths to requirements to financing needs to pretty much everything else but have you considered looking through the things that you should avoid?

If you haven’t then you’re in luck because we have made the following list of characteristics that define a bad property investment.

Almost or Fully Depleted – An asset is given a monetary value which shall be distributed across its years of use. Every year, a rate called depreciation shall reduce it. When one invests, it is crucial to take a look at the remaining worth of the asset. It would be silly to buy something that barely has any value left.

Awkwardly Located – A good investment is characterized by convenience in location. In other words, it is easy to reach. Transportation is present and readily available and significant establishments (e.g. schools, hospitals, grocery, etc.) surround the area. A bad investment on the other hand is completely opposite. Transportation is hard making the asset hard to go to and from. Significant establishments are far away too.

Little to No Appreciation – Depreciation is a given and it is a cost that all property investors and owners will have to deal with. However, one crucial element that must be given adequate attention to would have to be the appreciation rate, or the potential that the asset can increase in value over time given the right factors. An appraisal can be brought about by many factors a few of these will include the presence of establishments and structures within the vicinity as well as renovations and updates.

High Ongoing Costs – Some assets may appear affordable at the onset but becomes very hefty in the long run. A famous example of this would be properties that come with high ongoing costs. These pertain to repairs and maintenance expenditures necessary to keep the functionality of the space.

Ownership Cases – One of the first things to do when acquiring a real estate investment is to ensure that the person selling it has the right to its ownership or has been given the authority by someone who does. Avoid closing in on a property that has a lien or something similar on it. That is a surefire headache waiting to explode.

When you spot the following characteristics to a property investment, you’d know what to do. Run away and flee!

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Blunders to Avoid in Buying Commercial Property

commercial investmentWhy are you buying commercial property? Will you use it for your business or will you lease or sell it out for profit? Regardless, remember to avoid these blunders or mistakes when buying one.

  • NOT HAVING YOUR FINANCES AT THE READY – It is of no secret that a good commercial asset will not stay in the market for long. Competition is out there and every other investor or entrepreneur will only want the best for themselves. If you fail to come up with the necessary upfront costs (e.g. deposit and down payment), chances are the asset will be awarded to the next potential buyer in lie who can provide for it.
  • FAILURE TO ACKNOWLEDGE REPAIR AND MAINTENANCE COSTS – Keep in mind that there are hidden costs to acquiring a commercial property. These are those exclusive of the sum that you pay to the seller to gain ownership and transfer of title. A good example of this would be the ongoing costs otherwise known as the repair and maintenance expenses. You will be surprised that some assets will be sold for less but their upkeep is at staggering prices making them expensive in the long run. Repairs and maintenance are necessary expenditures and you cannot forego them otherwise you risk having the space go dysfunctional.
  • CHOOSING A ONE-SIDED CONVENIENT LOCATION – It is a rule of thumb for investors to choose commercial spaces that are situated in such a way that it is conveniently located to customers and one with heavy foot traffic. But what many fail to realize is that location must also be suitable for your employees. You can’t risk spending too much on transportation costs or losing great talent as well.
  • OVERPAYING FOR A DEAL – Sellers and brokers want a deal and the more profit they make out of one then the better. This makes it important for you as a buyer to be vigilant and meticulous. You have to make your research so that you will get a good idea as to whether or not certain assets are priced reasonably or not.
  • NOT ACKNOWLEDGING GROWTH – When you buy a commercial property, it is important that you take into consideration the possible growth and expansion of your business and operations. This is true in particular to those buying for purposes of use in their own business operations. You would not want to end up buying another one and moving in the coming year or the next because the space would not suffice anymore. That will be very costly on your part. Anticipate and plan.

Make sure to deal with reputable firm like

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Inside Secrets of a Real Estate Agent

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What Constitutes a Profitable Property Investment?

property_investment2In this day and age, sticking and limiting yourself when it comes to income sources would not be wise. With rising commodities and tremendous employment competition, one has to be smart enough to invest their hard earned savings into the right places. One way to do this is by putting them into properties. But how can one determine which asset to place their bets in? You don’t want to end up crying in this game. Correct? To help you, we’ve rounded up a list on what constitutes a profitable property investment. If you’re mighty interested, you better get your note taking tools ready and read up.

First is location. For an asset to have higher appreciation and demand, it has to be situated in key areas. By investing in assets that are in close proximity to several relevant establishments, you keep them within interest to people. Take residential units near employment hubs and educational institutions as well as store or retail outlets in commercially thriving towns or cities.

At the same time, the other properties or structures adjacent to or near the asset can affect its value too. When it is near roads and transportation hubs, people would prefer it. The reason is simple. It’s because of accessibility.

Second is safety. Everyone will want a safe neighborhood to live in and a secure area to hold and do business. Safety pertains not only to the absence of crime but also to the least likelihood of accidents and calamities. Remember that even if these things happen to most areas, certain places are more flood, fire, hurricane and earthquake prone than the others.

Third is parking space. This is true for both residential and commercial units but all the more for the latter. People have cars and we all hate it when a shop we head on to has limited or worse no parking lot allotted for customers. That’s a major drawback. Check the asset regarding this at all times.

Fourth are low ongoing costs. Upkeep and maintenance of assets are essential for both safety and aesthetic purposes. These are needed to ensure that the fixed asset can be livable, operational and functional as should be. They will be necessary so you have to get an asset that has fairly low repairs and maintenance costs. You cannot call it a profitable property investment if it will cost you a lot over time. To establish the costs, you can hire the expertise of a chartered surveyor who can examine the place for you.

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What to Do after Buying a Commercial Property

commercial-property-ukA commercial property is something that any business will want to acquire. Think about it. You cannot possibly run a business without a place to hold operations. Regardless of the size of your company, location and space matters. They are a necessity. So you’ve gotten yourself a commercial property recently. What’s next? Surely, things don’t stop after acquisition. So what else is there to do? Here’s a to-do list from Singer Vielle.

To Do Item # 1: Double check on documentation. – Even after the transactions have already occurred, deals have closed and contracts have been signed, it is still important to double check on your documentation. A commercial property is a huge investment for your business. It is a big ticket asset. You surely would want to ensure that it gets recorded properly within your financial statements. Remember that you have to record it based on historical or actual cost and not market value. At the same time be sure to have its useful life assessed at best.

To Do Item # 2: Make the necessary renovations. – You might want to revamp the whole place or at least change some features to it in order to fit your intended purpose for the property. By all means do so and keep it scheduled. This way no delays will occur and your operations go as smoothly as possible.

To Do Item # 3: Prep and dress it up. – What are you using it for? It is important to decorate the interiors in such a way that it invokes productivity for employees and brings in customers for sales. The ambiance and aura of any property can affect the tasks and dealings of people that go in it.

To Do Item # 4: Keep it ‘work appropriate’. – In relation to keeping the place aesthetically pleasing, it would be best to make it functional as well. After all it’s a place for work and where operations are held. Gather your team and brainstorm for ideas. Getting a professional may even help if you achieve this.

To Do Item # 5: Have maintenance on check. –After the purchase of a commercial property or even years after that, entrepreneurs have to see to it that proper maintenance procedures are undertaken to ensure its upkeep. The better taken cared an asset is, the longer it becomes of use to your business. Moreover, it prevents unwanted circumstances like accidents and keeps losses at bay as well.

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Residential Property Investment Tips: Better Interiors on a Budget

residential-investment-tipsNowadays, we always hear the word “budget”. As much as we wish not to, we have to because resources are limited even though we deny they aren’t. This should however not affect our creativity and diminish our productivity. We have to find a workaround and an innovative way to work with what we have and make the best out of them. The same holds true when it comes to beautifying our homes. Are you up for the challenge? If yes then the following residential property investment tips to better interiors on a budget will be of great help. Ready?

Tip # 1: Try upping the colour palette. – You can do this through many ways. One is by utilizing rugs, carpets, curtains, table runners and linen. This will instantly update and give a fresher look to any room without. Another is by using frames and artwork either stacked on shelves or hanged on walls.

Tip # 2: Use good and creative lighting. – By doing so, you are able to create just the right ambiance for every room. Of course, caution should be done when doing this because you also have to consider the tasks performed in every area. Take the kitchen for example, it has to be well lit but at the same time not too bright to avoid glare.

Tip # 3: Only buy furniture that fits. – To avoid having to waste your money on furniture and fixtures as well as other home accessories, see to it that you measure everything first. Get the correct dimensions so you won’t have to return your purchases or worse, suffer with items that won’t work in your home.

Tip # 4: Personalize your space. – This can be achieved in different ways and all it needs is a dose of creativity. You can do some DIY projects or simply frame up photos and other memorable pieces. It not only adds a unique touch but also helps immortalize memories.

Tip # 5: Use organization and dual purpose items. – To make your interiors even better, get into organizing. No one wants a messy home in the first place. Make use of furniture that provides shelving space. This way you don’t have to buy a furniture piece and a shelving unit separately.

All of the above residential property investment tips to better interiors wouldn’t break the bank. They are affordable and at the same time effective. What do you think? Which one will you try and do?

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A Checklist When Buying a Retail Property for Sale

retail-property-saleA retail property is basically a commercial asset that is used for the business of selling goods and/or services. Such can be a detached asset by itself or may be attached to similar other structures. Typical examples to this would have to be the store spaces of clothing and shoe boutiques you see at your favorite malls. The same holds true for restaurant and cafes, computer and electronics stores. To put things more clearly, think of the spaces where famous names like Debenhams, Ikea, Zara, Topshop and H&M are occupying. So if you are also a business owner and entrepreneur, buying a retail property for sale will most likely be on your to do list and necessities. On that note, you might want to check out the following items on our checklist during your acquisition phase.

LOCATION – Just like any other fixed asset, location is of utmost importance and all the more if we are talking about business. It has to be situated in an area that is easily accessible by your target market otherwise you might find a drop in sales. At the same time it also has to be in close proximity to most employees as well as suppliers.

USEFUL LIFE – You want to benefit from it as long as you can so checking on its useful life will be a necessity. Would you waste your funds on something that will only be of service for five years when you need it for twenty years? No.

PRICE TAG – It has to match your budget because you can’t afford to forget about the costing of things. Additionally it has to be equivalent and in conformity with the asset’s actual current market value.

FEATURES – Some businesses may want certain features in their properties such as a wide store front made of glass, a high ceiling, a second storey, etcetera. This will of course depend on your needs and the type of company you have.

PARKING SPACE – You want the space to be accessible and at the same time convenient. As much as close proximity to commute transportation will be beneficial, so is the presence of a designated parking space.

SECURITY – Lastly, when buying a retail property for sale, you have to ensure that it is situated in an area that is secure. This means that the crime rate is low, appropriate security teams are available and natural calamities are less likely to threaten your operations such as fire and floods.

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Expert Tricks When Buying in Property Auctions

property auctionsProperty auctions are one of the most sought after means of acquiring fixed assets in the market may they be for purposes of residence or business. Unlike the procedures of a usual sale, this entails having to bid on a property. That being said, the highest bidder gets to purchase the asset. What makes auctions charming is the fact that it is immensely possible to land and acquire something for an amount lower than its actual and current value in the marketplace. However, if one is inexperienced and does not know the right tricks then you could potentially get hurt and suffer the consequences. You do not want that and so the following expert tips could surely come in handy.

Be on your guard. – Do not be fully trusting. It is best to assume that all agents aren’t being completely truthful to you one way or another. This makes it a necessity then to check first before you actually agree. Just because a broker says that the house is in perfect condition doesn’t mean that it really is. It could be but it could be not. Check.

Withhold information to yourself. – Never divulge anything to the sellers, agents and brokers most especially with regard to the amount that you are willing to spend at the auction. Doing so will only give them the chance to quote higher than when they didn’t know about such fact.

Knowledge is power. – It is easy to say that an office building or home’s value is this and that but you can never know for sure should you only rely on words. What you can do is research, study and know how certain assets depending on size, features, age and location are priced in the market. This way, you can better judge whether the price tag being set is indeed fair or too much.

Dress like you’ve won. – This is a common way to intimidate other fellow bidders to avoid or at least minimize competing with you at an auction. It’s a simple trick but it works like a charm. Just see to it that you do not overdo it as you might get the impression that you’ve got loads of cash to give and sellers will likely start at a big amount.

Get your finances ready. – When buying at property auctions, always see to it that you have your funds sorted out and all.

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