Investment Property Advice

Posted on November 18, 2011 by

Before you buy or invest in any property you must consider the following things carefully:

Kind of Property
You also have to decide about which kind of property you wish to invest in, commercial or residential property. If you wish to use the property as a office or business center then go for commercial property. If you just thinking of an investment then residential property is a good option. If you are serious about this one then how to buy residential property can be a good read.

Location of the Property
Where the property is located matters a great deal. In prime locations rates can be very high so think again if you are really going to get any benefit by investing so much. In the same price you can invest in a suburban area. One of the important commercial property advice is that you also have to think about the property in terms of maintenance and surveillance, if you are wondering how to buy commercial real estate. If the location suits your purpose then go for it.

Property Search
Once you finalize the primary things you have to understand the market completely through good market research. Take the estimates of all the properties you are interested in and compare all of them. Check how many of them suit your budget, purpose, and future plans aptly. You may have to establish contacts with people from the industry, such as real estate agents, builders, contractors, real estate attorneys, and other investors, etc., to get the detailed insights about the properties that interest you. You can also go for an online property search option to help you further.

Financial Management
Once you decide on the property, you have to manage your finances. First, you have to analyze your own bank balance. Make sure that even if you invest your savings, it should not affect your current and daily requirements. You can also think of taking a real estate loan but it should not put a lot of burden on your existing financial condition. You also have the option of investing jointly. You can go for joint venture with your friends and colleagues. You may consult your financial advisor who may suggest some better real estate financing ideas tailored to your needs.

Consult the Experts
This is one of the best investment property advice I can give you. Each state has different land and property laws so to be aware of the nuances of property investments. It is advisable that you consult your investment advisor who will provide you with detailed information about the pros and cons of buying a certain property, be it buying a commercial property or residential one.

These were some of the crucial factors that any investment property advice will include. Given below are some of the investment property tips that would help you for a safe and rewarding investment.

  • Be aware of the legal issues concerned with the property.
  • Evaluate the revenue potential of the property.
  • Also check if the property is subject to any socioeconomic, demographic and financial trends.
  • Make sure that the construction quality is good and durable.
  • Understand the details of the property such as total area, FSI, amenities, maintenance cost, taxes, etc.
  • Use the equity from your other properties if possible.
  • Go through all the legal documents carefully before signing the contract.
  • Visit the location of the property at least twice before you invest.

With the above tips you know how to buy investment property. I am sure this investment property advice will help you make a safe property investment.

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Real Estate Auction Tips

Posted on November 18, 2011 by

Real estate auctions have seen a dramatic growth in recent years, in the United States. The advantages that an auction has, like a quick and an efficient way of getting cheap properties has made auctions a preferred mode of buying and selling properties. According to 2004 data, land and agricultural real estate witnessed the fastest rate of growth in sale through auctions (14.7%), followed by residential real estate and commercial real estate with a growth of 14.1% and 11.1% respectively.

Real Estate Auction Tips

Research
Gather as much information as you can about the property you are interested in buying. For example, get specifics about the property like the size, amenities and the opening bid. Then research the area in which the property is located. Find out about the benefits of living in that area and its drawbacks, and compare the price of properties in that location as compared to those in other parts of the city or town. Also look at properties similar to the one you are planning to buy. All this research will help one to evaluate the property against the budget set and also plan out one’s bidding strategy.

Attend Local Auctions
Attending local real estate auctions will help you to better understand the value of the property in that area, and will also give you an idea of how an auction is conducted. Observe who all attend the auction, and how they bid. You might be bidding against the same people when you plan to buy property through an auction, and hence knowing their bidding pattern may give you an edge.

Set your Budget
Real estate investments involve huge financial transactions. Hence it is very important to arrange one’s budget well before the auction date. If possible set an uneven bidding limit. For example, instead of setting the bidding limit at $610,000 set it at $611,000. Sometimes a bid higher by $500 may win you the auction as that might help you to outbid your fellow bidder. While deciding on the budget, take into consideration extra costs like the stamp duty, legal expenses or the fees of realtors or other agents that you may employ to help you with the purchase.

Gather Information about the Property
It is best to be clear about legal issues in case of real estate. Try to read through all the paperwork related to the property. Get your solicitor to go through the Contract of Sale. Contact the agent beforehand and get a copy of any documentation that you can. In case of any confusion, get the agent to clear your doubts. If possible, also get the building and pest inspections done for the property before the day of the auction.

Be a Confident Bidder
Although most bidders shy away from being the first one to bid, for an auctioneer, the person who starts with the bidding process always comes across as one who is genuinely interested in buying the property. Such a person has an edge over others in case the property does not reach its estimated value by bidding. In case a possibility of negotiation is there, an auctioneer may always turn to bidders he thinks are seriously interested in buying the property. it is also very important to check that the contract for sale obtained by you is the same as the one being used on the day of the auction. Be careful about any recent changes in the contract.

Control your Bidding
Don’t be carried away with the bidding process. Be within the bidding limit you have set. There are instances when people feel emotionally attached to the property. In such a scenario, they may send their attorney or a family member to the auction as they fear that they might get into a bidding war and well exceed their bidding limit. If such a situation arises in your case, make sure that the person attending the auction on your behalf has a clear understanding about the property and your priorities.

Having the right knowledge about the property and the value of real estate in that area, along with one’s finances properly arranged, can help one bid successfully at an auction. Along with all these preparations, a confident demeanor goes a long way in sealing the deal, as it should be remembered that it is not just money, but also the approach and attitude of a bidder that can tilt the scale in his favor.

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Real Estate Agent Resume

Posted on November 12, 2011 by

One of the fundamental prerequisites, before you pull up your socks to face the interview panel for your real estate agent job is that you must be ready with a quality resume. A good resume can make a world of difference in the prospects of your interview. Resume writing is an art and many resume writing services have popped up in today’s competitive business environment, in order to cater to the needs of people who don’t want to leave any stone unturned in the quest to succeed in getting their dream jobs. There are many facets of good resume writing. More on tips for effective resume writing.

What To Include in a Real Estate Agent Resume
What are the necessary things that must be included in a real estate agent resume? Well, firstly, a real estate agent resume must profoundly highlight the past work experience of the agent. The real estate marketing is all about how much practical experience the agent has in terms of making real estate negotiations. The potential employers look out for agents who have diplomatically and deftly broken the ice between the parties that are involved in the real estate investment market and have led to successful negotiations. The recruiting firms hire those agents that have alacrity to take the deals to a final result. Real estate is a field where the sellers and buyers bestow their trusts on agents who have a proven track record of outstanding performances. So, if you have done well in your past then don’t forget to mention your achievements. The interview panel will also judge your communication skills and see that you are an excellent team player. Your past credentials will throw a flood of light on your overall personality.

Academics and education are also a vital part of the real estate agent resume. Many firms prefer management and law related graduates and post graduates. The idea behind these criterion is to pick up candidates who have a knowledge of the industry and the various dimensions related to the real estate market like property law, income taxes and investment strategies. However, education is not a bar for the talented aspirant. Few years of work experience can give you a real down to earth experience of the real estate market and you will be able to gel with various facets and horizontals and verticals of the market. It is also beneficial to include appreciation certificates from the past clients and testimonials that can impress your new employer.

Sample of a Real Estate Agent Resume
What should be the format of a real estate agent resume? Check out the general format given below.

Ryan Miller
3679, East 70 Street,
Los Angeles County, California,
(123)-567 8970

Objective:
A position as a Real Estate Agent, working with focus and strategies in the selling of residential and commercial properties, garnering appreciable profits for everyone involved and enriching everyone with positive experiences.

A Gist of Qualifications
I’m a result oriented real estate sales professional with 2 years of work experience in the corporate, residential, commercial and industrial real estate market. I have diversified in the various branches and sub-branches of the real estate market like retail property assets and portfolio management, to name a few. I have a proven record of exemplary business acumen and keen insight into the details of the market. I have collaborated with various national and international firms and associations, for understanding the dynamics of the real estate market in the global recession affecting the countries across the globe. I have worked hard on my soft skills and have displayed leadership abilities in times of crisis and problems. I believe in team work, to achieve the short and long term goals. I have a rich and sound experience in dealing with difficult clients and have been phenomenal in property sales tactics and maintaining harmony with the clients. I have an imposing personality with sound business ethics and work values. I have done basic courses in computer proficiency and I’m at ease in handling Microsoft office and other such computer applications.

Latest Professional Experience
Real Estate Agent
XYZ Reality Pvt. Ltd, (2007- present)
Illinois, USA

I had lead the team in extensive market research and understanding of the real estate market in and around Illinois. I had shown elegant performance by selling residential homes worth 13 million dollars consecutively for a period of 6 months. I was a key player in leading the team effectively and helped my firm establish many branches in different parts of the state.

Other Work Experience
EGH Savings, Loan closer in Florida consulting firm, Amro Bank, Gold Bank.

Credentials And Internships
I have a bachelor’s degree in Fundamentals of Marketing from University of California and a one year diploma in investment strategies. I have also worked as an intern in many local banks and under the able guidance of lawyers and investment managers.

Writing a real estate agent resume is an important and inevitable part before you go for an interview to seek a job in this field. So, if you have been avoiding this mandatory task then complete it at the earliest. All the best for a flourishing career!

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