Business & Property

Analyzing Your Real Estate Deals Properly

Running real estate business means you should always be ready with new deals that come your way. You need to know how to act on it since it can decide whether or not the deal is for you to catch. When you take too long, the highest possibility is the seller looks elsewhere. However, it is not good either when you jump into it too quickly. You have to evaluate the property because you don’t want to be a victim of regret in the future. Therefore, you need to develop the right system to analyze potential deals. You need to set up basic guidelines as well as perimeter to let you know if the deal needs to be pursued or passed on.

Analyzing Your Real Estate Deals Properly

How to analyze your potential real estate deals

It is not easy to set up the right guidelines and perimeters to analyze potentials deals that come your way. However, it needs to be done to prevent you from unnecessary problems in the future. Closing the right deals is important to build your real estate business progressively. Here are things you can do to analyze potential deals for your real estate business:

  • Pay attention on the time. Every deals requires different amount of time. However, both banks and traditional sellers need to the best offer that comes in the shortest time. Therefore, you are not supposed to pondering. You have to take action decisively instead. When have guidelines set, you will be able to moving forward from pondering. You can immediately do your due diligence such as finding necessary information. Then, you can make a decision whether or not to make an offer.
  • As an investor of real estate business, you need to run your own numbers since this business relies much on it instead of feelings. It doesn’t mean that you think everyone is trying to deceive you. It is just more reassuring when you gain the information you need. Besides, not all sellers give thorough information regarding to the property. Thus, you need to confirm it yourself to find out more about taxes, insurance, rents, utilities, and value. If you forget to run your own number, it is highly possible that you get bad deals.
  • The next thing to do to analyze the deal is by doing the right repairs for your market because not all repair money equals value. One upgrade may increase price value in some areas. However, it may actually decrease the value in other areas. Thus, if you are going to sell your rehab property then you should use real numbers. It makes realistic price.
  • When you see a property, it is important to not only analyze it for what it currently is. Instead, you can look at it for what it could be. As a smart investor, you should know that you can change the look of the property by using minor upgrades. Thus, don’t easily run away from a property just because of the looks. You need to be able to see through it and analyze what you can do to add the value.  

How to Secure Financial Future of Your Real Estate Company

When you decide to run your own real estate company, it means you need to do it whole-heartedly. There are several things in your life you should sacrifice such as time and money.

However, you will be able to harvest the profit once you do it right. In real estate investing industry, data and number is the guide you need to be able to take decision efficiently and effectively.

You cannot follow your intuition since real estate business relies more on numbers. Moreover, running a real estate company is like a big step in your career.

The first thing that must have come to your mind is financial matter. Financing is what you need to be capable of when running business.

Securing financial future of your real estate company

It is not easy to lead a real estate company no matter how small your business is. You cannot depend on yourself anymore. You will need the skills and knowledge of other people as well.

Building real estate business means you need a solid team to work with. It also applies to the financial security.

Secure financial future of real estate company

Here are ways you can secure your financial future:

First, it is important to know deeper about your bottom line expense number. This is how you can get a perfect view of what happen to your finance. You will know where you have and will spend your money and how you will make the payments.

Knowing more about your financial situation will also avoid you from getting caught in a wrong path. It will be easier for you to set the next plan for your financial strategies once you have figured out your financial situation in a perfect view.

Secondly, running real estate company means you have to deal with debt situation. Thus, you need a plan to make the situation better in the future.

Since you have figured out your financial situation thoroughly and understand where you spend your money, you can make better plan. Aside from writing down things you need to do, you need to be more specific about it.

You should set a date on when you will do the payments. It is better to make small payment for your debt than none. It will keep you stay motivated to get better.

The third will be relates to your debt. In eliminating your debt, it is recommended to start with the small accounts.

Next step is to eliminate your debt one by one. It will also very significant to focus on the accounts that have the highest interest rates. Then, you need to keep committed to it.

Even though all your debts won’t disappear overnight, it will make significant difference to your financial security in the future.

And the fourth or the last one is as mentioned earlier that it is important to commit to what you are doing in order to secure your financial future.

You have to practice self-discipline because there may be times when you feel like you should take a break. However, you will gain the result by having healthier financial picture if you can survive all temptation.

Raising Capital of Your Property Business with the Right Strategies

Every real estate investor has different view and goal of their investing. They also come from different background. Some investor can be part-time teacher, retired office worker, etc.

Their goal can be different as well. Some of them aim to build wealth and some others aim for monthly passive income.

Raising capital of property business the right strategy

Every investor also has different view on how to spend their fund. It might be easy for you to find people who are interested enough to invest in real estate property. However, finding people who can commit is another case.

They may be people who are willing to contribute paying for funds for the investment but they are not willing enough to follow your specific deal.

How to raise capital effectively by working with partners

You will always need fund to maintain and grow your real estate business. You will also need to raise your capital at some points.

It is quite challenging and it is unavoidable that you need help to find money for your next deal. Here are some tips to find funds you really need for your real estate business:

  1. Before finding anyone on your contact, you need to make plan. No matter how close you are with your contact, you still need a plan to find deals. You may need to connect to different people in order to find deals such as local mortgage broker, wholesaler, attorney, etc. Anyone in mind you think can generate lead needs to be considered to build your pipeline. With plan, it is easier for you to be more practical in finding deals since you at least know what you are doing. Planning your capital presentation will open more opportunities for people to pay attention on you.
  2. You need to be more specific and confident. You need to treat your audience right and assume they know nothing about real estate business. However, don’t patronize or underestimate them. Answer every question confidently so that they know you know what you are doing. You can even write down possible questions that may arise during presentation. Thus, you can prepare your answer more confidently. Make sure that your answer is specific and don’t give something vague or a roundabout answer.
  3. Make sure you learn and understand more about finance. You need to know where and how you will invest. At least, you need to know what your leads can expect in return. You need to understand all the expenses and the prospective returns. Be more prepared with the number and make thorough estimation in details.
  4. Aside from giving your partners firm number of their expected return, it is also important to give specific time of when they will get it. This means you need to frame the exact time for your investing. They don’t want to wait for several months without knowing when and how much they will earn in return. You need to convince your people to work with you and help you raising your capitals. Thus, always make sure you understand what you are doing and their expectation.

What are the Things you Should be Aware of to Become a Landlord?

Becoming a landlord is one of the solid ways when it comes to methods of investment. A landlord owns a residential income property, and it’s one of the most popular real estate investment option.  It had also risen in popularity because of several real estate tv shows such as HGTV. But what are the important things you need to be aware of before you decide that being a landlord is for you?

What are the Things you Should be Aware of to Become a Landlord?

Educate yourself in the ethics and laws of renting

Understand about security deposits and other intricacies that comes with it. It’s also essential for you to know housing discrimination laws. This is something that could cost you a lot when you unknowingly fall into the trap of being unaware.

Checking your properties periodically

If you’re just starting out, you may want to live within or nearby your property for convenience’s sake. It’s important to check your properties periodically. The regulation is commonly stated in the legal documents signed when you take in your tenants. Inspections can be done in three months intervals. This is where you inspect closely how your property fares with your current tenants as renters.  

Remember that the returns take time

The residential income property scheme is definitely not quite like the “fixer uppers” scheme. It is clearly not a get rich overnight business model. It takes time and effort in order for a property to make its returns. Being a first time landlord, you may feel impatient. So have a realistic expectations. Talk to other landlords or go to a forum if you’re curious how much a landlord makes a return on their property investment.

Enforcing rules

It’s important to know how you can enforce the rules to your tenants politely. This is essential to make sure that rents are paid on time. The relationship between tenants and landlords is supposed to be just like any other business relationships. But it’s a bit tricky. If you live nearby or you live in the same building, you’re very likely going to see your tenants every day. Even though you’re good friends with your tenants, don’t let that as a reason for you to allow late payments.

Consider repairs on your expenses

Can you do your property fixing by yourself? This is often overlooked by first-time landlords. Things such as plumbing and repairing certain fixtures of your property will cost you money. It would be so much cheaper if you can do everything by yourself when you’re just starting out. However, knowing the right person can help a lot. Contractors can get expensive over time. So if you have connections with them, consult your intention and come to a win-win situation for both parties.

Do a background check

Knowing the relevant background of your potential tenants is one way to ensure that you will get your investment returns. Check their credit score in the tools available online. However, remember that credit score is not everything when it comes to determining whether someone is a good tenant or not. Students for example, may not have enough credit scores that could help you determine whether to decline or to accept a tenant. It’s a good idea to find more about your tenants by asking them yourself.

 

Handling Your Property Business from Home

There are many ways to handle your property business. You can even work from home and it is not a bad idea at all. Many people even find it more efficient and effective to work from home. Of course, there is reason why it is still effective to work from despite of the circumstances. However, we are living in different day. Today, everything is easier due to the advance of technology. Thus, the concept of traditional office space is no longer a big deal. Everyone can work from anywhere they can as long as they have things to help them with that. Working from doesn’t mean you mix your personal and business space. As long as it is still productive then there is no problem doing it.

How to handle your property business from home

There are benefits working from home according to some studies conducted. For example, it is easier to focus and concentrate on the tasks since there is less distraction especially for those who live alone. The next benefit is the decreased cost because there is no need to pay for transport for example. There are basically other benefits received by those who have already experienced handling their property business works from home. How can you do it right then?

  • There is no big difference on how you tackle all your tasks from office or home. You still need to rely on a plan. You need to make a plan of the tasks you need to accomplish daily. You will have to list them in the right order based on the level of priority. You can try highlighting the most productive tasks so that you don’t need to waste your time. Thus, there is no reason to feel less productive when you work from home.
  • In making a plan to list the tasks you need to accomplish, you need to stick to the schedule. Thus, you will follow the schedule accordingly and finish on time. By having a time frame, you won’t lose your focus or discipline in managing your tasks. You also need to be specific in the amount of time you need to finish every task.
  • Handling property business is not all about administrative works. Sometimes, you need to build your networking by meeting with people, surveying potential are for investing, etc. Those stuffs shouldn’t bother you. You can still do all and include these activities on your work plan. You can handle them through email, phone call, text, or just go and meet them personally. Working from home doesn’t mean you are not allowed to meet people face to face though.
  • In order to make yourself comfortable yet productive, it is highly suggested to set up a work-friendly space. You need to create a specific area where you can work without any distraction. Thus, you will feel comfortable working from home but you can still focus on your work. If you live with others at home, make sure to tell them when you are available to be disturbed and not.  

Benefits Buy Villa Bali For Personal Investment

The Bali market is skyrocketing and people are starting to look for something special. Whether you are on vacation solo, family or group, the main and most important thing is to look for accommodation. More and more opportunities to find comfortable, cheap and luxurious accommodations. The graph of tourist arrivals in Bali is above the average each year. This is the reason more and more investors are building hotels, villas or resorts with complete and luxurious facilities.

Buy Villa Bali

Buy Villa Bali To Get Additional Income

No need to hesitate for property investment. The property market in Bali is always increasing and real estate purchases always exceed predictions every year. If you want to invest, buy a Bali villa can be something right and profitable. In fact, the value of investment in Bali is not too influenced by political temperatures or natural disasters. For example, when the Agung mountain spewed out lava, tourism continued to run stably.

The benefits of buy villa Bali for your personal investment are clearly visible. When you decide on an investment with a Bali villa buy, you have benefited significantly. Wherever your villa Bali investment location, don’t be afraid of losing money. There are many ways to use your investment to be an advantage.

If you buy a second villa Bali, pay attention to the quality factors of the building, and any possible damage to a building. If necessary, hire a construction expert to check your villa. When maintenance and maintenance are done well, the value of your investment will increase.

One more thing that you should pay attention to when buy villa Bali for quick profits. You can rent villas for tourists, especially those who need holiday privacy. Villas are a destination for many tourists, both honeymooners, stress relievers or other private interests. Think about the best promotions so that rental income can pay for your bank mortgages. Isn’t this a brilliant idea?

Services for guests are the main if you want to promote the villa based on the recommendations of the guests. I think this is a simple and fast way of promotion for guests to return in an astonishing amount. Ensuring your guests’ comfort and privacy are always guarded. Satisfaction of guests will bring blessings and profits multiplied when you decide to buy villa Bali for a comfortable, luxurious accommodation and private vacation.

Or if your time is excessive, take advantage of your vacation with family by visiting your villa Bali. This is also useful so that you can inspect the villa and make repairs if needed. The main thing before deciding on buy villa Bali is how you do financial planning so that there is no bad credit. Make sure before you buy villa Bali, the document process runs well without any legal issues, which may harm you.

Ancient Architectural Styles as Inspirations in Commercial Properties

While these architectural styles are normally not used in its entirety in modern houses, some public and commercial properties still do. And it’s always fascinating to look at the trail of history blended with the everyday modern lives. The list touched upon here is by no means expansive. It’s merely some of the most popular styles in which many of today’s functional buildings are based off of. Let’s take a dive at some of the ancient architectural styles we can still find today.

Ancient Architectural Styles as Inspirations in Commercial Properties

Classical architecture

It could be said that the Classical architecture was the predecessor of all of the architectural styles in the Western world. The classical architecture commonly referred to the Greek and Roman architectures. One of the earliest known architectural principles is also found in the classical architecture. One defining characteristics of the classical architecture is the use of columns. Columns can be seen particularly in the façade or the face of the building. Used in modern constructions, the classical architecture would give the impression of being imposing. There are property business firms specializing in the classical architectural style. One of the recognized one is the property firm of Fairfax and Sammons.

Baroque architecture

One of the most prominent examples of the Baroque style building is the Palace of Versailles, France. The Baroque style originated in the 1600s. This style of architecture is characterized by several key visual points. Lavish, intricate ornaments, luxurious paintings and figures in ceilings and walls, vibrant interior colors, and overall visual impression that speak of grandiose. There is an organization known as Trust for Architectural Easements that endeavored to preserve America’s architectural heritage in which some baroque architectures are preserved.

Gothic architecture

Today, gothic architectural styles can still be found in many churches. The Cathedral of Notre Dame de Charles is one among many of gothic architectural styles’ prime examples. Gothic style was traced back from the 12th century. New technologies in constructions had enabled buildings to be built higher compared to many of its predecessors. The gothic architecture can be described as intricate and graceful. Many of Gothic buildings have pointed arches as one of its defining characteristics. The revival of Gothic took place during England’s Victorian Era when numerous buildings were built with distinct gothic elements.

Ming and Qing Dynasties architectures

The largest and most prominent architectural proof of this architectural style is the Forbidden City located in Beijing. The architectural style of the palace complex in China much reflect the hierarchical culture of the ancient imperial lives. Ming and Qing Dynasties architectures has the visual characteristics of being axial symmetrical. The important buildings are often located at the center, while smaller buildings or houses are found on the sides. Much of the palace’s materials were constructed with wood, while staircases and walls were constructed with stones.

Renaissance architecture

The term “renaissance” itself meant “awakening” or “rebirth”. The renaissance architecture is the revival of the classical architecture. This period happened during the 14th century to 17th century across Europe. The classical elements of Greeks and Romans during this time was not simply reflected in the architectural styles, but also in the European culture in general.

 

Guide to Japanese Apartments You Need to Know Before Investing in Japanese Properties

Japan, particularly Tokyo, is infamous for its ridiculously high prices of residence. Prices per square meter are one of the highest among the places in Asia. The country and especially its capital is also notorious for their micro-sized apartments. But regardless, all eyes are on Japan. There are numerous reasons why people would want to invest their money in the properties here; a diversification is one of them. What are some of the most common terms you need to know before you start investing in Japanese properties?

Guide to Japanese Apartments You Need to Know Before Investing in Japanese Properties

Apaato and Manshon

Japanese apartments in everyday lives are referred to as simply アパート (read: “apaato”) an English-borrowed term from the word “apartment” itself. Apaato is commonly located in buildings that only have few floors. Apaato is rarely located in high rises.

The usage of the term slightly differs from “manshon” or “mansion” in Japanese terms. Mansion generally refers to more expensive residential buildings compared to apaato. Generally, mansions are built stronger, with reinforced concrete, and with an overall higher quality material, which translates to higher rent prices.  In Japan, mansions are, more often than not, located in high rises.

Genkan

traditionally, Genkan is the first place you’ll step foot in once you’ve opened the door to a house. It is the entryway where you’re required to take off your shoes before you come inside the house. Shoe boxes are most often placed in the genkan area. Genkan can be as small as half a meter, or even less, in width.  

Daidokoro or Kitchen

In modern Japanese apartments, especially those with the smallest units, the size of the kitchen can be extremely small. Most Japanese apartments have built-in stoves. It is common practice for small apartments or mansions to have the kitchen located at the front of their room before entering the bedroom.

Most of Japanese apartments and mansions are open-plan

Japan is infamous for their tiny apartments and the limited space. This is particularly true for Tokyo. Arguably the world’s most populated metropolitan city, the price per square meter is extremely high.  

Japanese Apartment Layout

You’ve probably heard of the term 3LDK, 1K, and such. But what do those numbers and alphabet mean? In Japanese housing, the number in the forefront indicates the number of rooms or bedrooms in an apartment or mansion. The letter “L” refers to Living Room, “K” represents Kitchen, while “D” refers to Dining Room.

It’s noteworthy that the size of the LDK rooms commonly allows for a bigger-sized dining room, while the apartments indicated by “DK” commonly have smaller dining area without a permanent separation from the kitchen area.

The 1K apartment is generally the Western equivalent of a studio apartment. Most commonly, the genkan directly leads to the kitchen, with the bathroom and toilet in the same area separated by a wall.

Meanwhile, 1R is the smallest type apartment where it literally means “1 Room”. A less common room type that can be observed is 1SLD, in which the letter “S” here refers to “storage” room. The storage room is more often than not, has a form of a walk-in closet. The size of the storage room itself does not have a standardized requirement and the only way to  accurately find out its sizes is by being present in the apartment itself/

 

What You Need to Know about Short Sale in Property Business

There are many terms that you need to understand comprehensively when it comes to property business. There are many strategies to use in order to close the deals and earn profit. Every investor may use different ways or approaches in achieving their goal.

If you are familiarizing yourself with this business, you might as well learn about short sale. It is a term means transaction where lender agrees to sell their property for less than the amount owned. There are many reasons why this case happens.

Short sale in property business

One of them is homeowner being late in their mortgage. The term short sale sounds simple but it goes along with the amount and paperwork as well as guidelines.

About short sale in real estate business

For a homeowner, it is quite challenging to just sell their house especially with negative equity. They need the lenders approval to be able to sell it. They need to reasons well why they want to sell their house. If not for being late or having some hardships, it will become more difficult to get the lenders approval.

The logic is simple. Lenders don’t likely to own real estate so they prefer to sell it with discount instead of taking it back for foreclosure.

In order to do the short sale, homeowners need to complete needed documents. It is quite similar to mortgage application in reverse. With those documents, homeowner has proof that they are indeed in difficulty to pay the loan.

They need to show hardship letter, worksheet of expenses, tax returns, bank statement, as well as pay stubs.

Along with needed documents as mentioned above, it is also more useful to include supporting documents such as estimation of repair, pictures, recent sales, and even listings to compare.

Another thing you need to know beside the document is that the length of time to close takes longer than you expect. It may take sixty days to close for the fastest period. It can also last to ninety days in average. Meanwhile, investors most likely like to avoid short sale deal since difficult short sale deals can take longer than half a year and even more.

Lots of new investors are curious to find out if short sales damage the credit of homeowner. Of course, this case is not ideal but it is considered better than foreclosure or worse, bankruptcy which stay on the report for long period of time.

However, short sales do impact the recorded mortgage rates. As mentioned before that this is not ideal situation but there are still positive things to take.

Therefore, it is highly suggested to ask help for help from real estate agent who has experience and credibility to handle this case if you are interested in short sales.

Even though this is not perfect case, there are many investors closing the deals every day. Thus, it is important to dig out as much information before doing anything else. Asking for advice from professional will also be helpful so you can take the right decision.

How to Make Your Effort in Building Real Estate Business More Productive

One of the main principles in building a business is hard work. There are many form of hard work which can result differently. No matter what kind of work or due diligence you do, you need to make it productive.

Thus, it will results in positive progress for your business. If you aim for long-term business, it is important to choose effort which not only sacrifices your time or energy but also more productive in many ways.

Make your effort in building the real estate business more productive

Sometimes you do things resulted in nothing which means it is not productive. Surely there are not enough hours to achieve your target in one day. However, it is your chance to take advantage of what you have. Being productive is the best solution to reach your target even in limited time.

Time is not only money. It is everything you could ask for. It is your job to maximize the efficiency by boosting your productivity. Here are some examples of how you increase productivity in building your real estate business:

  1. Focus and clear your mind. When you are unable to focus in your work, it means your mind is in haywire. Thus, you need to clear your mind to be able to focus on your task. If it is hard to stay focus, then it means you need time to recharge. You can go out to see a beautiful view for several minutes or make a cup of tea to relax your mind. This will help you regain your focus and do your task efficiently.
  2. Finish one task before jumping to another one. It is true that some people can multitask effortlessly and make their work finish efficiently. However, it is better to finish one task completely before taking another task. This will be more productive. If you insist that you can multitask efficiently, you can do it but make sure to do it with caution.
  3. Making a running list can help you to work efficiently. This will help you to prioritize which task should be done first and which one is less urgent. This can be like your guide to finish every task so you won’t misplace the tasks. You can also make your own target of how many tasks you must finish in certain period to keep you motivated doing your work.
  4. Avoid unnecessary meetings. This point is still related to the previous point somehow. When you make list, you will know your priority. Thus, it is just logical to eliminate unnecessary meeting which doesn’t give any affect to your business. Thus, make sure to choose only meeting that worth your time.
  5. Implement the right system to accommodate efficiency to your work. System will let the task work automatically in the right order. Thus, you don’t have to re-plan over and over again if you have already built the right system. System is one of the main assets for your real estate business. This way, you will save time to do another work to boost your business more.