Posts tagged with: real estate

Why A Local Real Estate Investing Mentor Is Critical

September 20, 2015 | Real Estate Market | By Real Estate | One Comment

When people think about real estate investing, they usually fail to think about finding a local real estate investing mentor and coach. They often do not realize that it is possible to get the help they need and advice of a professional locally without having to give up profits on a deal. Often the trade off is to go to a national trainer who isn’t familiar with local market conditions. Even the best advice won’t work in every market. Not without tweaking for local market conditions. Let’s face it, if we could treat real estate investing the same everywhere, there would be large national home buyer corporations in every market. It just isn’t so.

Some would-be investors tend to think that they are above using a mentor. They jump on the real estate investing bandwagon thinking that they know everything that they need to know from reading a few books or attending a high priced seminar or two. A few investors may have squeaked by, narrowly avoiding disaster, it has caused far more real estate investors to lose money, big money before they get their taste of success…if at all. Sometimes the losses are so great it taints the individuals’ opinion of real estate investing forever.

Although real estate investing affords the common man or woman the ability to generate life-changing money, there are many things to consider before starting. There can be large sums of money involved and big financial penalties for making a bad decision. Anyone dealing with large sums money, or putting a credit at risk, will want to make sure they’re not making a critical mistake. Working with someone locally who has gone through the process, and can mentor you, can add that layer of confidence and safety regarding decisions with money and credit. Sometimes just being on the wrong side of a street can mean the difference of a “deal” being a “deal” or a “no deal”. Crossing school districts, flood plains, and many other factors can affect a potential deal on a very micro level.

A good mentor can eliminate risk by providing sound local market knowledge and strategies to get into and out of deals with the least margin for error and even more specifically how to avoid risking a credit on transactions altogether. Many strategies are tossed out because other investors tout “that won’t work where I live”, and that may be true, but often those offering up advice aren’t qualified to be giving it. They haven’t achieved the level of success it takes to have a valid opinion.

Managing personal finance is hard enough without jumping into a complicated real estate transaction without really knowing what your true costs, timelines and local financial obstacles one might face. It can get even more complicated trying to pull off multiple real estate transactions. With little knowledge of local costs of doing business, how things customarily get done, what you don’t know can cost you thousands. Following a proven plan and having the professional guidance from a local mentor saves you from the financial costs you didn’t even know existed.

Whether it’s budgeting a renovation properly, knowing the correct values of a subject property, understanding the difference of gross rents to net rents, or time commitments necessary, having a local mentor to hold your hand along the way to success is the difference between potentially losing time, energy, effort and money on a transaction or creating multiple profit centers on a “home run” deal. What you don’t know can cost you dearly.

There are many different obstacles to success in the real estate investment arena. The only way to make the safest decisions is having experienced the decision-making process over and over again. By making the decision to work with a local real estate mentor, you are working with someone who has experienced the outcomes of making all the different decisions regarding real estate investing. They have seen what’s worked, and what hasn’t. This experience of the “time in the trenches” is incredibly vital to those who want to be as successful as possible. By working with a local mentor, you can gain the experience of how to do successful deals without the costly experience of failing to make the right decision on a deal.

Considering real estate investing? You are going to want to use a local real estate investing mentor. I have trained many investors who, even after shelling out many thousands of dollars on a national mentoring or coaching program, they still felt lost relative to local “rules”. They may have gained value from a national program, however, pieces of the puzzle were still missing. Once they found a local source to fill in the real gaps, their businesses skyrocketed.

Real Estate Investing Mentor

When I started, no such mentor was available, but times have changed. Now many areas do offer options for getting the training you really need. Local investment clubs or meetings are a great place to ask around to see who others recommend.checkout their latest information at http://www.broadwayworld.com/bwwbooks/article/Real-Estate-Investment-Expert-Peter-Harris-Releases-New-Book-20150917

Eventually, you’ll be able do it all on your own, however, when you are thinking about beginning your first few real estate investing deals, you’re going to need to work with someone who can help you with all of your unknowns. These unknowns can cost you both time and money when navigated incorrectly. The local mentor and coach can help you to make the best decisions possible.…

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Need An Attorney for your Real Estate ventures

September 20, 2015 | Real Estate Market | By Real Estate | 0 Comments

Real estate today can be fraught with difficulties. Laws change and problems arise. You may find yourself in a position when you need an attorney. Most people don’t realize that there are attorneys who specifically work on real estate law. Whether your business ventures include residential or commercial real estate, having a qualified real estate attorney in your corner can save you a (potentially) huge amount of money.

What do real estate attorneys do?

Real estate attorneys are specifically qualified to work on all (or most) angles of real estate law. It’s easy to wonder why there would be such a specific need for lawyers in real estate, but the fact is, California state has some of the toughest environmental laws in the country. These are constantly changing, and can be very difficult for a lay person to understand, let alone navigate on their own.

Residential homeowners by themselves face all kinds of legal difficulties, whether it’s purchasing a home, or managing a property. Just buying a home implies that the potential owner is responsible for everything. This includes appropriate home valuation, contracts, Home Owner’s Associations, earth movement issues (coastal properties), foreclosures and all aspects of getting a home loan (predatory lending).

Facing these by yourself can be daunting. It can also cause you money in the long run if you fail to file an appropriate paperwork with your county or state. You can be brought forward in a lawsuit for a simple failure of disclosure for any number of reasons. This is why you should protect your money, and hire a competent real estate attorney in San Diego to help mitigate any risks in your investment.

Let’s take an in-depth look at a few reasons why you should have a San Diego real estate attorney on your side.

Predatory Lending and Foreclosure

With the housing collapse not far behind us, light was shone on the massive predatory lending problem in this country. A lot of good people lost their homes because of this. Average people failed to protect themselves by neglecting to have an attorney do an independent valuation of the home they were purchasing.

Average people were not the only culprit’s in this. Banks and mortgage lenders were seeking out people and offering them mortgages on terms that they could not afford. Taking advantage of the market, the banks seized the properties and foreclosed on many hard working American’s. Having an able real estate lawyer on their side could have helped these people bring logical claims to a jury that they were singled out with a predatory loan.

Earth Movement Issues

Occurring mostly in coastal areas of California (but not always) earth movement can potentially destroy foundations, and even entire homes. Imagine your home falling away from beneath your feet. Without an attorney, you may not be compensated for your loss, even if the city or county was responsible for construction that caused it to happen.

Home Owners Associations

Home Owners Associations have laws all their own. These can be extremely complicated, and are potentially fraught with lawsuits and issues. An attorney can help you understand exactly what you are agreeing to when you sign an HOA contract while purchasing your home. They can assist you in elections, as well as any internal disputes you may have within your Home Owners Association.

Do I need an attorney?

If you have an issue with your home, business etc., and you are considering hiring an attorney, you should probably start looking for one. Often times, you can find lawyers who are willing to consult with you, and at least advise you on where you should go next.

If you feel like it is a simple issue, or you would just like to handle it yourself, there are legal self-help clinics available at your local courthouse.
There are drawbacks however when you try to negotiate laws yourself. The most important is that you may find later that you were not quite as thorough as you should have been. Saving money by not hiring an attorney may cost you more in the end.

How to find a real estate attorney

Most people will tell you, the best way to find a good, fair attorney, is by word of mouth. Asking a trusted friend, colleague, co-worker or relative may give you peace of mind in knowing the integrity of the professional. One drawback on this, your source may be biased in some way, so it’s best to look up the attorney in the Bar Association to check on your own.

Newspapers and magazines often do editorials on professionals who offer services in your area. These are often competent, able lawyers who are stellar in their field of work. Keep in mind this can have the same problems as asking a friend. Newspapers and editorials can be biased as well.

Another great way to find a trusted real estate attorney in San Diego is to go straight to the source. The California Bar Association has detailed information available on every licensed attorney in the state. They maintain records of schooling, as well as any professional misconduct that may plague an attorney’s reputation. These are unbiased and completely safe to trust.

When all else fails, use the internet. With a plethora of information at your fingertips, you can find many available attorneys waiting to help you.

A few tips to remember when meeting your attorney

Real Estate ventures

Once you have found a real estate attorney San Diego, you have to be prepared to meet with him. Be professional, and be prepared. Gather all of your documents before you go. Make sure you are well prepared and make it a business meeting. It is your money after all. Please also be advised that no attorney should be promising you the world. If he does, this should raise some questions, as no professional attorney guarantees any kind of result.visit http://www.pionline.com/article/20150911/ONLINE/150919965/calpers-adds-4-billion-in-real-estate-commitments and get additional information about real estate investment.

Before you endeavor into the complicated arena of real estate law by yourself, you may seriously want to consider hiring a quality lawyer. When investing so much, anything else could be a serious risk to your finances.

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How To Make Your Home Stand Out In a Rising Spring Market

September 20, 2015 | Real Estate Market | By Real Estate | 0 Comments

Spring is finally here and so is the busiest season in the real estate market. Whether you are selling your home privately or with a professional real estate agent; here are a few tips to ensure top exposure as well as a top dollar in your pocket after all is said and done.

1. Timing

Timing is everything, although depending on circumstances, you may not be in control of it. Having completed thousands of home evaluations and spoken to at least as many aspiring home sellers, one of the questions I will get for sure is: “When do you think we should list?” Interestingly when I ask the question back, most if not all homeowners think they should not list before June or July because that is when the yard shows best. In our dreams we picture the flower gardens in full bloom, the lawn cut to perfection and the vegetable garden bursting with goodies……everything looks so much nicer in the summer.

But if everybody waits for the flowers to grow before they finally lost their houses, guess what happens!? That’s right! I have often found that quite a few buyers buy early in the year with a summer possession date, which then in turn allows them sufficient time to sell their own home or finalize any potential lease agreements they may have. Since there are not as many listings on the market in early spring, I have seen sellers consistently put more dollars in their pockets!

I would also caution sellers to watch the neighbourhood before they actually list. It seems like common sense, but if there are 3 more houses listed on your street and you have the luxury of time, I would hold off unless you know beyond a shadow of a doubt that yours is superior and you price it right.

2. Price

Pricing is such an interesting animal. From a sellers perspective, it can be easy to get lost in the listing “bidding war” among real estate agents. I think it’s not a bad idea to interview several agents unless of course you have a good working relationship with one, or have been referred to one already by someone you know and trust. If you are shopping for a REALTOR® however, watch out…you get what you pay for. I believe that the ‘Choose the agent with the highest list price and lowest commission rate’ mindset is backwards.

The imaginary math on that might look promising but don’t fool yourself. Look for consistent results, rock solid reputation and non-negotiable integrity. Once you find a pearl of an agent like that, then and ONLY then strategize the list price etc and the marketing plan. So to summarize: Don’t choose your REALTOR® based on list price and commission, choose your REALTOR®, and then together determine the best list price based on current market conditions as well as property condition. If you are selling privately, you have some more legwork to do yourself.get latest news at http://www.telegraph.co.uk/finance/economics/11871603/federal-reserve-september-interest-rate-decision-janet-yellen-live.html

Tour as many open houses in your area as you can and try to understand the differences in features and location and how that relates to the individual value. Make sure you compare apples to apples, meaning – don’t determine your list price based on someone else’s. Determine your property value only based on what similar homes have actually sold for.

There are 3 pricing strategies that are most commonly used in the marketplace. I will address those in a future post.

3. Marketing

How To Make Your Home Stand Out In a Rising Spring Market

Most people misunderstand marketing. They believe marketing is advertising. I disagree with that. Marketing is a whole lot more than advertising although it certainly includes that aspect. Pay some close attention next time you watch the commercials on TV or youtube. You will rarely see advertisers bragging about themselves.

Marketing doesn’t talk about a product. It talks about the benefit the product will deliver. It’s a whole different perspective. If your REALTOR® and you catch on to its power, you will truly set yourself apart in a busy spring market!

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Renting a property? Morzine Is The Way To Go!

August 30, 2015 | Real Estate Market | By Real Estate | 0 Comments

If you want to choose the Morzine property then it’s your best choice. Because having a property in such a beautiful snowy place is the dream of everyone. Besides buying you can also rent a ski resort in Morzine to enjoy your vacations. The French Alpine reserve offers more than few features that attract the tourists and holidaymakers. They rent ski chalet at Morzine to make their days more memorable.

Morzine is the best location to go for:

Location matters a lot either you want to buy a property or rent it. It always has been an important factor to be counted. If hiring a ski chalet is your concern then Morzine is best for you in this regard as it has distinctive advantage. It takes about an hour drive from Geneva that is the capital of Switzerland. Besides it also has a beautiful visiting place ‘European City’ in its right. Undoubtedly you will also find some other enchanting Alpine ski resorts out there which have a wide range of pistes to choose from.

Climate is good to spend holidays:

Morzine property for sale is always available due to its favorable climate which is the demand of visitors. People buy Morzine property and often build ski chalets. Morzine is a best ever place for holidays and the reason is its climate which is mild and sunny. During winters Morzine gets desirable amount of snow each year and the tourists wait all the year for such weather. This specific climate of Morzine attracts the skiers and boarders. They come here and take slopes without any fear of slide r some snowstorm. They hire ski chalets at their favorite place and spend vacations out there.checkout more information at http://www.morznet.com/news/call-for-vigilance-after-recent-floods-and-landslides-near-morzine-683850

Morzine property is within your budget:

Property for sale Morzine is obviously well within your budget. You can get it by just fulfilling some necessary conditions. If buying Morzine property is not your intention instead you want to hire a ski chalet then definitely it’s also not very costly. You can check for different ski chalet providers for this purpose.

Another thing which makes Morzine attractive for people is that all the resorts over there are available not only for individuals but also for families. In this way large families or groups can find the resorts according to their size without any trouble. Morzine is such a wonderful place where everyone likes to go along with family at low cost. Getting Morzine property is also advantageous for the reason that it has challenging pistes and slopes for the skier and snowboarders.

Morzine property for sale

In short Morzine property would be your best choice ever. Buy the property, build ski chalets and enjoy your vacations within your own comfortable resort. Besides you can also rent such comfortable resorts in France but you will not find them at reasonable price except Morzine. In any case Morzine property would be a win situation for you as you will be in a position to bring your family with you as well.…

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