Real Estate Update

Archive for February, 2011

When buying a Toronto condo, it is important to take into consideration the additional costs of the transaction other than the purchase price itself. So many times I have buyer clients looking to purchase real estate in Toronto yet they forget about all the additional costs that go along with the purchase.  Put aside some additional cash for the following one time expenses:

 

1)      Lawyer fees – Your lawyer will charge you for the closing fees and title insurance if you elect to purchase it.

2)      Adjustments – Depending on what is in the agreement of purchase and sale you may have to pay for property tax, hot water tank adjustments etc.

3)      Land Transfer Tax Fees- Buyers of real estate in Toronto must pay the Toronto Land transfer tax and the Ontario Land transfer tax (for purchases only). If you are a first time buyer, you will get a break on the tax.

4)      Moving expenses – Don’t forget about the costs of hiring movers and a moving truck, and if you are moving into a condo then you may have to pay a fee for booking the condo elevator.

5)      Services such as the TV, Phone, and Internet must be set up.

6)      Home insurance

 

Once the transaction has been completed, there are other expenses to consider as well. On top of your every day living expenses budget for the following:

1)      Monthly mortgage payments

2)      Annual property tax

3)      Monthly maintenance fees – monthly common expense plus reserve fund

4)      Utilities – Don’t forget about the monthly water, heat, hydro and central air bills. Some condos cover all or a portion of these.

 

If you are either, living in, looking for or trying to sell or buy a condo in Nanaimo, you need to check out Nanaimo condos. Nanaimo Condos also covers townhouses, patio homes and apartment sales.

Nanaimo condos is a tool and resource for anyone that is looking to buy or sell condos or has any connection to strata homes. They offer advice and information on all types and also provide full listings of condo sales. The overall goal for Nanaimo condos is to create a better system for strata homes (multi-family homes such as condos, town homes and patio homes). This especially includes supporting sellers with their home sales. It can be difficult to sell or find a good condo on your own, and that is where Nanaimo condos steps in. They will not only list your condo for sale for you, but they will also provide you with more information on condos than anywhere else. They really are the ultimate resource for condos and all types of strata homes.

If you live in a condo right now, but don’t have any intention of selling any time soon, you should still check them out. Nanaimo Condos is dedicated to improving the quality of life for people in condos already. These improvements come in the forms of tips and ideas for people living in any strata home as well as providing lists of trustworthy companies that you can feel safe hiring to do any work on your condo. Each of their listed partners has been reviewed and tested by Nanaimo condos and is just as dedicated to the improvement of strata homes as they are. So if you need anything from renovations to a lawyer you can trust that Nanaimo condos did the homework for you allowing you to simply choose from their partners for your situation.

The networking system that Nanaimo Condos has put together is simply incredible and connects anyone involved with strata home to anyone else. This even includes the contractors who are building these condos. Nanaimo Condos works directly with builders and contracting companies to improve the designs and quality of every strata home. They have lists of different condo developments that are going up in the Nanaimo area with sketches and projections of what they will look like. They also include pictures of current condos that are available. They even contain the name and number of the company that is building them, allowing you to connect straight to the contractor if you would like.

Nothing is outside the reach and scope of Nanaimo condos. They seem to have every aspect of condo life under their control and they do a great job of connecting the community together with both information and condo listings for people to take advantage of. No matter if you are trying to move in, or move out of Nanaimo, let Nanaimo condos help you along the way. You won’t be disappointed with the quality of help that you will be receiving, nor will you be disappointed with the quality of condo you will end up with at the end of the day.

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Eight Tips for Getting Started in Real Estate Investing

Introduction Broker Price Opinions Jobs

This article is just the basics for getting started in real estate investing. This is not a how to article but an article that gives you some information about things to do to get started. Everything in this article is tools that can be applied to helping anyone get started in real estate investing. I am going to give you my eight keys to getting started. Nothing is right or wrong but reflects the point of view of the author. Laws and legal practices vary from state to state, and laws can change over time. The author does not vouch for the legality of his opinions, nor is there any intent to supply legal advice. The author strongly encourages the reader to consult with professionals and an attorney prior to entering in any real estate transaction or contract. The author is not a writer but he is a real estate investor. There will be grammar mistakes and errors, so don’t be too critical of the grammar but focus your energy on what is being said. With that said prepare yourself to think a little differently and expand your mind. Let’s get started on an amazing adventure.

The Eight Tips are as follows

1. Desire
2. Goal Setting
3. Learning What To Do
4. Attending a Real Estate Investing Seminar
5. The Billings Montana Market
6. Finding a Mentor
7. Your Real Estate Team
8. Just Do IT

1. Desire

Before we get in to the bolts and nails of real estate investing in I want to talk to you about desire. If you are going to be successful at anything in life including real estate investing you have to have the desire to do it. Desire is defined as longing or craving, as for something that brings satisfaction or enjoyment. Desire stresses the strength of feeling and often implies strong intention or aim. In real estate investing if you don’t have a desire to learn and grow as a human being and really get satisfaction out of it, then real estate investing is going to be hard to do. When I go out and look at a property it brings me a lot of enjoyment. Every aspect brings me joy from talking to home owners, figuring out how I can make a deal work, to buying the house and to finding a good homeowner or tenant for the house. Real estate investing may not be for everyone but real estate investing can offer anyone the financial freedom we all crave for. If you do not have the desire for real estate investing that is ok, it can still help you to live your dreams and help you to get where you want to go in the future.

Why is real estate investing an amazing avenue for anyone to live out all of their dreams? Let me ask you a few questions. Do you have enough money to do anything you want? Do you have everything you want? No debt? A nice house? Great Marriage? The freedom to do anything regardless of how much it costs and the time it takes? If you have all of these things then you are one of the few people in America who does. Most people may be working fifty hours a week and making just enough to pay their bills. In today’s day and age most people are living pay check to pay check never really knowing if they will make enough to pay the bills that just keep piling up. If you cannot keep up with your monthly bills how are you going to plan for retirement or send your kids to college or have time to enjoy life. The answer to all of these questions is becoming financially free. Now it’s not going to be easy everyone will have to get off the couch and out of their comfort zone. Real estate is proven to be one of the fastest ways to get your out of the rat race of the nine to five and begin living the life you deserve to live. Everyone wants something different out of their life. Some dream of traveling the world, spending more time with family, volunteering, golfing, laying on a beach, giving back to the community, or anything that will make them happy. There are thousands of things that make people happy.

Making it in real estate takes a person who has a strong desire to change their lives for the better and think big. Anyone can become a great real estate investor. It is going to take a lot of work and can be a struggle at times but in the end it will be the most amazing feeling ever. The people that make it in real estate investing all have a few things in common. First they run their real estate investing business like any other business out there. Second they get out there and network with anyone and everyone. Some people might be like me and have a hard time talking to other people. If you are that is ok, anyone can learn how to become a people person, it just takes hard daily work. You have to push yourself past your comfort zone. The third thing is that you cannot be afraid to fail. Everyone has failed at something but the most successful people out their learn from their failures. The fourth thing is that you have to put a good team together. I will go into putting a team together in a later chapter. The concept of putting a team together is so that when you don’t know something you have team members that know what to do and can help you with questions. The can also make sure that you are not working yourself to death. You do not want to be the person doing everything in your business. Doing everything is a receipt for failure. You have to put together good people who you can trust and rely on. The fifth thing is that you need a mentor. Sixth and final is the desire to do it. No one can become successful at something if they don’t want to do it and don’t get satisfaction out of what they are doing.

2. Setting Goals

Having goals is one of the most important aspects of achieving what you want in life. You don’t want to just have your goals up in your head you want to write them down and past what you have wrote on the wall somewhere or in the bathroom mirror. You want to review your goals daily and read them out loud to yourself. This way you remind yourself everyday why you are building your business.

How should you start to write down you goals? First off you should think big, and by big I mean HUGE. If your goals are too small you will easily achieve them and have nothing else to look forward too. You should start off by asking yourself the question if I had all the money and time in the world what would I do, what would I buy, how would I spend my time, and how would I spend my energy. Are you starting to write these down? Well you should be. Think about what you want, spending time with family, traveling the world, the best cars, a castle, owning a small country, running for president, having the biggest real estate investing business in your area or in the country. Whatever your dreams and what you want out of your life, write it down. Some of my goals are becoming free, traveling the world, having a Ferrari, having 10 vacation homes all over the world. Right now I am just trying to get you out of your comfort zone of thinking and let your imagination run. Broker Price Opinions Jobs

There are several ways to set goals. I have learned a lot of ways you can set you goals and there is no right or wrong way. The best ways that I have found to set your goals is to break them up into two categories. First your short term goals. This should be goals from a month out to around a year. The second is your long term goals these goals are you think big goals and what you see for your future.

For year one I like to first make a list of what I want to achieve this year and I will give you an example of how to do that. For year one you want to be very specific first you want to list what you want your income to be at the end of the year, next how much cash in the bank you want (this is money in your checking account, not assets). Next you want to list how much you are going to give. Giving is a very important, this can be giving to charity, giving of gifts to friends and family, giving to your school or anything you can dream of. As long as what you give brings joy to others who need it more than you. Next list what bad habits you have that you want to eliminate. Weather is be quitting smoking, spending too much on junk, drinking too much, working too much, not spending enough time with family, too much TV, not exercising and many more. We all have bad habits that need to be changed in order for use to grow as human beings. Under each of these bad habits list out some steps that you can take in order to quit them. If you bad habit is being lazy and not exercising enough what can you do to change that. Well you can get a gym membership or a home work out program. Commit yourself you following through with a plan to work out 3-5 days a week. For you to change these bad habits you have to be totally committed and follow through with a detailed plan you set for yourself. After you have your plans in place you should start listing several things you want to achieve or do in the next year. This can be start a successful business, spend time with family, travel to 2-5 places and so on. Now under each of these you should also write a detailed plan on what you need and what you need to do in order to achieve these goals. Finally you should take all of this information you have a write on page on what you see your life being over the next year. Doing this is a great exercise to really see what you want out of life.

Goals Year One

This is what I am going To Do This Year
Income: 0,000
Cash: 0,000
Give: ,000

Bad Habits that will be changes:

Over Sleeping 1. Go to bed at 11 p.m. 2. Use a timer and set it for 8 hours 3. Set the timer on the other side of the room

Buying things that you don’t need: 1. Going out shopping less 2. If you have the urge to buy something think to yourself is thing item going to help me to achieve my goals of becoming financially free? 3. Tell friends what you are doing, so they can help to stop you.

What I want to Achieve:

Start a successful Real Estate Investing Business: (you should write a detailed step by step plan of everything you need in order to achieve your goal)

Travel: Where do I want to visit? 1. Gators football game (what I need to do it, money, etc)

And last your own page about what you want to achieve using words like I will and only positive words.

For long term goals you don’t need to be as specific right now, but you should list them and under them list a few steps or smaller goals that need to be achieved before you are able to achieve them. With the long term goals always think big. Another good exercise for long term goals is to make a collage of you goals. Put pictures of the house you want on it, places you want to travel, a picture of your family, a number of what income you want in or anything you can think of. Broker Price Opinions Jobs

Realtor Tools: Outstanding Free Internet Realtor Tools

The real estate industry is one that demands a lot of systems, but also, adaptability; this nature in itself makes it very adaptable to various kinds of realtor tools which present good chances for managing otherwise complicated and time consuming duties, administrative and marketing actions and allow for spending your time in what is truly important for your company and personal life.

Today, virtually every task a business does is either performed, supervised or filed on the Internet or inside your computer. That’s why it is crucial to choose effective web realtor tools, and if these are free, you can’t ask for more!

Check this list of verified effective no-cost web realtor tools and decide for yourself. You might be using several of these already, however, if you are not, we suggest you play with them and squeeze them in your profit.

1. Gmail. This email service is a hit among no-cost web realtor tools because of its degree to comprise, accelerate and administer the transfer of a lot of data. It allows you to input several email accounts, so you get all your emails in one inbox. Several third party applications enhance its utility. www.mail.google.com.

2. YouTube. Any video you can conceive, of personal or business nature, appears in YouTube. This is the top among marketing realtor tools to increase the influence of your listings. Real estate customers are looking for photographies and all the information they may discover about the region which concerns them; it is easy to make a video and upload it free on your YouTube page. Assign pertinent keywords and a link to your website and you will reach many future customers. www.youtube.com.

3. Google Calendar. This calendar works efficiently with Gmail, thus, it is one of the best realtor tools for controlling time and activities. You are able to add appointments directly from your inbox into your calendar in one click. www.google.com/calendar.

4. The Brain. This software allows you to share data using a “thought” style. It extends to others in a sort of domain of the space age. www.thebrain.com.

5. Driveway. For organizing everything. This application allows you to store, share and get documents anytime from any place. You may send documents straight to it and administer who has read only or read and write access. www.driveway.com.

6. Xpenser. Chosen among realtor tools for uncomplicated accounting. it’s easy and agile to employ for entering disbursals and earnings data. www.xpenser.com.

7. Jott. This solution lets you enter appointments, duties and yet, expense and earnings notes directly from your phone. Operates with various of the no-cost realtor tools shown here. www.jott.com.

8. YouMail. This tool functions as your cell phone’s voicemail. Admits tailored salutes according to who’s dialing and passes voice mails as MP3 files to your email. www.youmail.com.

9. Hotsend. This software allows you to exchange data in the format in which they were emailed. www.hotsend.com.

10. WordPress. Great means for blogging. Check it out and enjoy all its pluses. www.wordpress.org.

11. Feedblitz. This tool transforms your blog posts into interesting newsletters to be delivered when you decide. www.feedblitz.com.

Cheap property for sale offers Mr Average a way to build wealth and build wealth quickly.

If you can buy cheap property for sale in the right areas there is no better way to build wealth with low risk.

Let’s look at some rules for buying cheap property for sale and how to turn them into expensive property for sale and make big gains!

1. look overseas

We now live in a global economy and people are travelling more than ever and home purchases by North Americans and Europeans in countries outside of their country of residence are at an all time high.

Why?

Because property is cheaper and many people want to get an affordable second property and in most cases its sun, sea and sand that attracts them and an ocean view, so this is the type of property to focus on.

Buy in the right places and you will find that making 30% per annum is common and 100% per annum is achievable.

2. Buy an established location

If you are looking to buy cheap overseas property don’t buy the cheapest!

Why?

Because it’s cheap for a reason no one wants it.

You can get some great deals in Haiti at the moment but don’t bet on making any money.

Look for a market that is cheap in relative terms and but is showing rising overseas investment and an established track record of having made some gains.

Good examples are Panama and the favorite of most Americans Costa Rica. These countries have had several years of booming prices but there is still more to come and its a safe investment in terms of local law.

Keep in mind property boom markets rise for decades not just a few years.

With ocean view property still 70% below equivalent property in the US There is still plenty of upside.

You can be a pioneer and buy a new hot spot, but remember some pioneers got rich, however most got arrows! Play it safe – There are still big profits to be made without taking unnecessary risks.

3. Location, location, location!

Even in boom countries you can buy property that will never rise in value. The best way to buy is to look at the infrastructure that’s coming.

Look for expanding infrastructure such as roads, marinas and airports, that will attract people to the area. Get in quickly and buy cheap property for sale before it rises in value.

When the herd come you can sell out at a profit.

Never buy a location simply because you like it – Pick one that has sound reasons behind it to rise in value.

4. Cautions

When buying cheap property for sale make sure you get local help.

Property laws and customs vary and in many countries you may find out that your property for sale investment is not secure and tat different rules apply to overseas buyers.

Play it safe and look for countries such as Costa Rica that give you the same rights as residents.

In conclusion get local help it will save you money in the long run.

Cheap property for sale overseas offers huge gains that simply are not available in more established countries so to make money in property take a look over the borders and you will see many great investments in cheap property for sale that could make you serious money.