Landlord Investing

As with purchasing a property in any country, you must make yourself aware of the formalities and “peculiarities” of the foreign market.

Property prices.

Without an official price index, many properties are advertised with a price that is determined by what the vender wants rather than by a market value. If you find a property in a particularly popular area (or in an area like an Old Town where they can be no more development), it is most likely that market has been determined by the price paid for a similar property. If you are looking at a renovation project in an area away from the main towns, then the price you pay will most likely be a result of your negotiation skills.

Legal advice.

Getting a local lawyer is imperative. Many properties have multiple owners (i.e. owned by whole families) and all parties must be in agreement of the sale. When the lawyer has this in writing, the title of the property can be yours.

Paying for your property.

All purchases are cash purchases. The vendor will require a cash deposit of at least 10% of the agreed price and you will need to pay the rest in 30 days. If you cannot complete the deal, you lose the deposit. If the vendor pulls out of the deal, they will have to pay back the deposit plus the same again. Therefore, if you put down €5000 and the vender defaults, you will receive a total of €10000.

Fees.

In Montenegro, it is the buyer that pays the estate agent fees.

– Property tax: 2% (on the sale price, payable to the government.)

– Agent fees: 4% (approx.)

– Legal fees: €750 (approx.)

Example: Agreed sale price = €45000 + €900 tax + €1800 agent fees + €750 legal fees = €48450

Transferring money.

It is not necessary to carry the whole amount of money to Montenegro as cash (although you may wish to do so for the deposit). You can transfer the outstanding amount electronically to a bank in Montenegro and withdraw the money when you are there. Some banks don’t have any method of direct transfer to Montenegro, so you may have to use a currency exchange to do this for you (they quite often get better exchange rates too for those in non Euro currency countries). From there the money can be transferred to a Montenegrin bank (Opportunity Bank in Kotor Old Town only charges a €15 handling fee. Some banks charge a percentage).

Once you have decided on your property (or properties), seek the proper legal advice and look forward to your new holiday home, capital growth or rental income.

Please note: this article does not constitute legal advice and any costs incurred & potential future gains may be different in each instance.

The North Carolina coastal area is a wonderful place to vacation, retire or build a second home. It is packed with adventure, romance and fun. The North Carolina coast has long been a favorite vacation spot for families who like to return again and again.

Bluffs Cape Fear

Developers are now working on a project called The Bluffs on Cape Fear. This unique waterfront community is located on the Cape Fear River. It’s only 15 miles from downtown Wilmington, NC. This exclusive gated community will be a retreat for many vacationers and retirees. It consists of 600 to 700 acres of rolling tree covered land. There will approximately 700 lots and home sites.

This area offers a host of activities that will please everyone. Access to the Atlantic Ocean and the Intra Coastal waterway make this a paradise for water activities. Boating, fishing, jet skiing, and beaches are on-hand for your enjoyment. Brunswick County is rated one of the top 10 vacation spots because of its stunning beauty and attractions. Once you have visited, you will want to return again and again.

Buying Pre Construction Property

Whether you want to retire or vacation in North Carolina, there is a splendid opportunity at Bluffs Cape Fear. By buying NC Pre Construction, you can be in on the beginning of this outstanding project. As a result of buying this NC investment property, you’ll see your property values rise. 

In these uncertain times, many people are putting their money into real estate investments. Bluffs Cape Fear gives you a chance to do this at pre construction prices. With a small amount of earnest money, you can reserve your lot at the rock bottom price. Then while you are preparing to build, you can watch your land value increase. Prices will never be this low again, and as development progresses, selling prices will escalate.

Besides being a great investment, The Bluffs Cape Fear gives you many desirable attributes. The amenities for this gated community include a beach house, a river clubhouse and a swim and tennis center. For nature lovers, there will be interior lakes, walking trails and conservation areas. 

Bluffs – Wilmington NC

The Bluffs are close enough to Wilmington to enjoy the attractions there. You will find fine dining, golf courses, parks and museums. The history buff can tour Civil War battlefields, and the shopper can browse the boutiques and shops. Nearby beaches are readily accessible for days of sun and relaxation.

This is the best time to buy pre construction and be part of the growth and expansion of this locale. At this point, you can reserve your property and arrange financing with a small deposit.  Whether you want property for your second home, retirement, or to resell, this opportunity would be hard to duplicate anywhere else.

Is island life for you? Or is having an island getaway for you? Both questions would entail completely different lists of pros and cons. For investment purposes, island homes tend to hold their value, as land is obviously at a premium on an island! 

The population of USA has access to many islands, in the Atlantic, the Caribbean, the US Virgin Islands and in the Pacific. If you are planning to buy a second home on an island, you will not need to do the same soul-searching that would be required for a permanent move.

Many families have bought an island cabin as a group purchase, and the weekends and vacations are allotted on a casual ‘time share’ basis within the family. It is shared in turn for weekend getaways where the children can roam free on weekends and vacations and every now and again they will all plan to show up together! It is a great idea for promoting family unity. It also keeps costs down, as boats, fishing rods, repairs etc can be shared.

However, that is a little different to suddenly deciding to sell everything up and move to an island. To some, that would sound idyllic and to others it may bring on claustrophobia!!

The advantages and pitfalls must differ according to each island’s amenities, climate, environment and many other factors, but are there any general island ‘rules’?

Most island residents who choose permanency would probably opt for an island with a ferry service. There are times when the sea is too rough for a little row boat, or motor boat, and they do not want to feel isolated. Of course, for many people this isolation is exactly what they DO want!

Sometimes a ferry schedule can mean that when you arrive home late (from a vacation flight) or from the theater you cannot make it home on the ferry. Many islands have a water taxi service that you can pre-book, or some residents will just use their own boat, and others will decide ahead to spend a night in the town’s hotel.

One other problem with living on an island is that often you may have to worry where to park your car. Is the island big enough to have a car ferry, or do you need to leave your car each time you go over on a tiny ferry? In the latter case, you will need to negotiate parking near the ferry – although this is often provided for. 

Such other inconveniences, like arriving home with no sugar, is really just an accepted part of island life, and easily adjusted to. That’s what neighbors are for, and community glue is strong on islands!

No matter what the inconveniences are, to islanders, the peace and the feeling of being ‘away from it all’ is paramount. If you work off island, it only takes a few short weeks for that feeling of peace to pervade your entire being. It happens the minute you step onto that ferry boat each evening to cross the ocean to your island home.

Perhaps this poem by J. Earnhart and reproduced in the magazine “Island Life”, sums it up best

:If ever you’ve lived on an island

if ever you’ve lived by the sea;

You’ll never return to the mainland

once your spirit has been set free. 

If ever you’ve smelled the ocean

or tasted the salt in the air;

You’ll know you’ve discovered a haven

that is uncommon, precious and rare.

If ever you’ve seen the whales play

or watched the eagles in flight;

You’ll remember, again, why you live here

and why it feels so right.

If ever you’ve seen the sunset

as the ferry passed the shore;

You’ve seen the beauty of the island

that will be with you forever more.

If ever you’ve heard the seagulls

the waves, a foghorn, the winds;

Then you’ve heard the song of the island

and the peaceful message it sends.

Indeed, if you live on an island

if you’re lucky to live by the sea;

You’ll never return to the mainland

as your spirit has been set free.

For those who like a little more luxury in their lifestyle a home in idyllic Rancho Santa Fe, California is just the ticket.  

This exclusive location is the favoured home to the super-rich and the famous, as a quick scan through the list of past and present residents of Rancho Santa Fe’s luxury houses, mansion and developments will show. It is also the highest income community (with at least 1000 households) in the United States.  It’s zip-code – 92067 – is also listed in Forbes Magazine as being the second most expensive zip-code in 2006. 

Rancho Santa Fe California Real Estate

Rancho Santa Fe properties have to be designed within strict restrictions.  This means that many of the houses of Rancho Santa Fe cannot be seen from the road-side, due to the fact that they sit within large land-scaped grounds and gardens.  

Apart from the downtown area, which exists aroung the intersection of Linea del Cielo/Paseo Delicias and La Granada/Via de Santa Fe, the region is nearly exclusively residential – the only other buildings being Golf Clubs and Country Clubs. 

All of this means that the entire region of Rancho Santa Fe is a beautiful part of the world to live in, and this makes Rancho Santa Fe Real Estate highly sought after.  Rancho Santa Fe houses therefore makes excellent investment properties. 

The prices of homes for sale in Rancho Santa Fe range from condos for sale from just over $500,000 to elegant mansions priced at well over $8,000,000 in the more sought-after sub-divisions. 

Rancho Santa Fe Homes Information

There were 1,204 households at the time of the 2000 census, for which the median income was in excess of $200,000.  The population is broken down as follows:

– 25.9% under the age of 18

– 2.9% from 18 to 24

– 17.7% from 25 to 44

– 33.0% from 45 to 64

– 20.5% who were 65 years of age or older

Buying a home in Rancho Santa Fe

Rancho Santa Fe is broken down in to the following sub-divisions, all of which provide their own unique flavour of luxury and decadence:

The Bridges

Cielo

Covenant

The Crosby Estate

Del Mar C.C. 

Del Rayo Downs

Fairbanks Ranch

The Groves

Hacienda Santa Fe

Las Villas 

Montecito

Non-Covenant

Rancho Del Lago

Rancho Del Rio

Rancho Diegueno

Rancho Farms Estates

Rancho Glens

Rancho La Cima

Rancho Santa Fe Farms

Rancho Santa Fe Lakes 

Rancho Santa Fe Meadows

Rancho Valencia

Santa Luz

Senterra

South Pointe Farms 

Spyglass

Stonebridge

Stratford

The Summit

The Tuscan Estates 

Whispering Palms

Interested in getting in on the condo hotel trend in the Philippines? Perhaps you’ve heard about this new type of vacation home ownership and it sounds right for you.

A condo hotel unit, or “condotel,” is typically a three-star or higher property with a management company that takes care of all the hassles typically associated with ownership, including maintenance and finding renters when you’re not using your condotel unit.

With many new condo hotel properties coming on the market, when is the best time to buy? The answer is easy. In early pre-construction phase of development. Most condo hotels begin selling their units long before the property is built, and often before even the first shovel-full of dirt is overturned. The idea behind a pre-construction purchase is that you’re buying tomorrow’s property at today’s price.

One such property now on the market in the Philippines is Pacific Concord Properties, Inc., Flagship Lancaster Suites Condotel development located along Shaw Boulevard, Mandaluyong City, Metro Manila, one of the hottest Condotel Investments in the Philippines

To be called Lancaster – The Atrium which is the second Tower adjacent to the existing “Sold Out” Tower I PCPI is now accepting Reservations for Studio, One, Two & Three Bedroom Suites adopting International Standard Escrow Trust Account “Buyer Safe” Easy Secure Payment Plans… with 6 year interest free payment terms or up to 12 year “In-House” financing available, full condo ownership, no management costs for Condotel Suites, and minimum monthly maintenance fees, as buyers or sellers of Real Estate you really should take a moment to look at this Philippine Condotel Investment Opportunity

Marketed by PLC International Marketing Networks, the lead Marketing Partners with PCPI, the Lancaster Manila Atrium Tower A, Shaw Boulevard, Metro Manila, Philippines is a “Full Service” Condominium Hotel offering Studio, One, Two and Three Bedroom Suites for sale.

To be completed and ready for turnover from December 2009/2010, the Lancaster Suites Manila Atrium Tower II will provide unit owners with premier residential condo units with the option of enrolling their units in the Lancaster Condotel Rental Pool.

Beth Collingz, PLC’s International Marketing Director said ‘This is a great investment opportunity for Fil-Am’s whom visit Manila for Vacations or Business as they can earn Rental Incomes of some 12-16% ROI per annum as Owner Non-Residents when not using their units through Condotel Management and reciprocal arrangement with Lancaster Cebu Resort Residences. This makes Lancaster Suites one of the Hottest Investment Opportunities in the Philippines”.

All units at the Lancaster Suites have kitchen facilities. The standard unit price provides for the suite to be finished but not fully furnished. Included in the current price are the interior finishing’s such as tiled & fitted bathrooms, bedrooms with simulated wood plank flooring, living and dining area tiled floorings and lower kitchen cabinets/work tops installed. A complete optional extra interior fit-out package including appliances will be available towards the time the units are closer to being completed towards the latter part of 2009. Monthly condo dues are currently around 80 pesos/square meter of the unit floor area/month..

The Lancaster Atrium Suites are now available on the very affordable and competitive New Payment Plan that provides for Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification “In-House” Finance Plans…

The current selling price for the Lancaster Manila Atrium Tower A Tax Exempt Studio Units is Pesos 75,888 or $1,615.00 per sqm. The One Bedroom, Two and Three Bedroom Suites are priced at Pesos 84,994.56 or $1,808.80 per sqm including Government Taxes [R-Vat 12%]. Units may be purchased on a Six Year No Interest Charge Term of payment or longer term “In-House” financing plans. Turnover of units for Tower A will be from December 2009/2010

“Foreign Nationals are legally allowed to purchase as much as 40% of the total number of condominium units on the market at any given time. Overseas Filipinos and more and more foreigners are now emerging as a market for condotel units. Many or our clients are coming from different countries like South Korea, Australia, United Kingdom, Saudi Arabia and other parts of the Middle East” Collingz said.

Appreciation Makes Pre-construction Appealing. Some people wonder why they should buy in pre-construction phases. After all, your deposit monies are tied up for one to two years. The answer is you get in on the ground floor when prices are lowest and unit selection is greatest. As the condo hotel is being built, it is gradually appreciating. Developers implement planned price increases at various stages of the selling process, often as many as three to five price hikes.

If you purchase your unit at a pre-construction price, it potentially could be worth significantly more at completion. When you sell, that translates into a higher profit for you. The actual profit of course depends on the general market conditions, interest rates and competition. All preconstruction payments will be made to the Lancaster Suites Manila Atrium Tower A Equitable PCI Bank Escrow Trust Account. It is anticipated, given the track record on sales of Tower I Units that property appreciation for initial buyers of Tower A Atrium Units will be at least 60-70% on turnover of units.

Beth Collingz is the International Marketing Director for PLC Global Pinoy located in Metro Manila, which specializes in the sale of the Lancaster Brand of condo hotels. Visit her web site, www.plcglobalpinoy.com for more information on condo hotels and to see condo hotel listings, photos and prices.

Bulgaria has recently met all the causes and articles for accession to the EU. Full entry is scheduled for early 2007.  The country will immediately benefit from worldwide acceptance and a massive investment from the European Community.

Bulgaria is at present a relatively poor country.  The average monthly wage is just €280. Membership of the European Community will ensure that the transportation network, domestic and commercial utilities sector, labour rates as well as the fiscal and banking systems will all be brought into line to mirror their more prosperous European neighbours.

With the increasing prosperity, along will come the private and corporate investors eager to cash in on the country’s new found wealth.  Over the past three to four years, Bulgaria has seen consistent rises in the property market between 20 to 30%.  A few pioneering investors have taken advantage of this increase but have tended to be either the long-term corporate investor or highly speculative property gambler.

Entry into the European Union have seen the property prices of new member countries almost double within a one to two year period.  Ireland, Hungary, and even Spain are prime examples of this phenomenon.

Bulgaria is set to be no different.  Property prices and the cost of living are amongst the lowest right across the European states.  Massive price increases are predicted within the next 12 to 18 months to echo prices amongst other member states.

The country itself offers a vast selection of city, coastal, mountain and rural investment opportunities.  

Sofia, the capital, is experiencing massive corporate investment from companies relocating to take advantage of the low labour and rental cost: 

The Black Sea Coast, with resorts such as Sunny Beach, Golden Sands and St. Vlas, experiences higher summer water temperatures than the Mediterranean along the Spanish mainland. Tourism is increasing massively year on year as is the number of  visitors investing their own home in the sun.

The mountain resorts, Borovetz, Pamporovo and Bansko offer the longest ski season in the whole of Europe. Prices for ski apartments are around 70% cheaper than other popular European resorts and property purchases are booming.

Existing rural properties can often be purchased for less than the price of a car. Hardy purchasers can expect huge bargains, huge potential and tiny prices.

Many experts agree with www.investmentpropertybg.com that prices are due to surge over the coming months in anticipation of accession. Returning holidaymakers, impressed by the value for money and excellent selection of properties that Bulgaria offers, will further fuel the property boom. The time for the serious investor to take advantage is now.

Sarasota, Florida certainly is a magnet for those seeking the ultimate vacation house, as well as the permanent home, since the place offers a wide variety of enlightening experiences within beautiful surroundings.

Historically, people are not quite sure how Sarasota derived its name. One theory is that it was named after the daughter of Hernando De Soto, Sara. De Soto, along with Ponce de Leon and Panfilo Narvez, were the first explorers to land on the Gulf Coast in search of gold and silver. Another legend says that the name may have been derived from the Spanish “sarao sota”, which when translated means “a place of dancing.”

Sarasota, Florida is a fantastic, and colorful city. With a population of over 53,000, there are a lot of options for housing that are accessible to prospective homeowners. If you are considering building a home in Sarasota and need more information in regard to modular homes, there are assorted companies available to provide you and your family the very best home for your needs.

The Sarasota market continues to gain strength compared to the overall state of Florida, according to the Sarasota Association of Realtors. For example, Condominium purchases went up by 12% in July 2007, as compared with 141 sales in July 2006. The median sales price was up 14.8%, from $269,990 in July 2006 to $310,000 in July 2007. Single family home sales went up by 5% from 351 in July 2006 to 369 in July 2007, but median sales price was down 14.5%. Statewide however, the real estate market saw a decline of 24% from July to July for single family homes. 

In deciding to build a home in Sarasota, there are some more questions to ask yourself and priorities you need to establish. Here are the stuff you need to consider: 

* How much could you really afford in buying a home. A local mortgage company can help you answer this question. 

* How much space do you need, or want. 

* Are there specific areas of town that you prefer. 

* How many bedrooms and baths do you feel you need ? 

* Find out other amenities are important to you (ex: eat-in kitchens, family room, pool, attached garage, etc) 

* How big a lot of land would you like to have 

* Should the house be close to certain schools, your job, or public transport 

In looking for housing developers and contractors in Sarasota, it would be best to check out the local yellow pages for additional support, or chck on online developers and real estate agents. One notable local developer would be McKenzie Builders LLC. McKenzie Builders is a full service residential construction company building affordable homes in Manatee and South Hillsborough counties on Florida’s beautiful Gulf Coast, with over 20 years of building experience in this area. 

Another noted Sarasota developer would be Vision Homes of Southwest Florida. Vision Homes, according to its website, “ has redefined what “Excellence” means when it comes to residential design and building for the 21st Century”. Vision Homes is also acknowledged as Sarasota’s Leading Builder of Energy-Efficient Green Building Technology.

Bank foreclosure real estate, also referred to as REOs (Real Estate Owned), is foreclosed real estate that is owned by the bank due to an unsuccessful foreclosure auction. There are several reasons the home may have not sold at the auction. The most common reason is negative equity- the bank foreclosure real estate is worth less than the amount owed to the bank. Of course, the bank seeks to receive the outstanding balance of the original loan; therefore, the minimum bid for the bank foreclosure real estate is usually the amount of the outstanding balance of the original loan, plus interest and any additional fees. No smart investor or buyer will consider bidding on such a property. 

Nevertheless, an unsuccessful sale will not stop the bank from trying to make an attempt to get the bank foreclosure real estate sold. The bank will consider removing some or all liens and fees on the bank foreclosure real estate in order to get it on the real estate market and resell it to the public. The resell process may be retrying an auction or working through a Realtor.

This is a hot market for real estate investors. Real Estate investors take an eager interest in bank foreclosure real estate property. The market of foreclosed homes may be large; but, not always suitable for some investors. The foreclosed property may not meet some important needs. Nowadays home buyers and investors alike are scrambling through the market of bank foreclosure real estate looking for better deals. Though, most bank foreclosure real estate property is in poor condition, the low sale price of the home highly compensates for the property poor condition. 

Investing in bank foreclosure real estate property offers a great return for investors. Bank foreclosure real estate by far offers greater deals than typical foreclosed homes. As an investor you must consider all your options. Make sure you get the bank foreclosure real estate property at the best price. Hopefully, the bank foreclosure real estate that an investor chooses to invest in will give the investor rewards; such as a larger return in profit, either through renting the home out or through selling the home. 

There are several ways to search for bank foreclosure real estate property.  You can search the Internet, magazines, and newspaper listings. The Internet can lead you to thousands maybe millions of connections. Here you can view listing by state, banks, county, and much more. 

You should also invest time in finding a good real estate agent.  If they know what you are looking for, they can save you a lot of time and work.  They can also help you determine the true market value of the home you are considering investing in.

The Government has closed the door to investors hoping to get tax relief to put their holiday homes and buy-to-let properties in their pensions from April next year when investing rules are due to be relaxed.

The FT reported a “complete U-turn”  by the USA Treasury as generous tax breaks were removed from the SIPPs self invested pensions.

From April 6 next year, pension laws were to be relaxed allowing those saving for their retirement much greater freedoms over what they could hold within their pensions. The rule changes were expected to lead to a boom in self invested personal pension schemes (Sipps), pensions with wide investment freedoms.

Residential property and assets, such as fine wines, classic cars and even stamp collections were among the assets which were expected to be allowed to be held in pensions after April 6 and qualifying for income tax relief up between 22% and 40%.

However, in a technical note accompanying the pre-Budget report, the government suddenly announced it would remove the tax advantages for residential property and other assets, such as fine wines, art and antiques. The move will remove any tax advantages of holding residential property directly or other exotic assets within a Sipp.

The government said the move was aimed at “preventing people benefiting from tax relief in relation to contributions made into self directed pension schemes for the purpose of funding purchases of holiday or second homes and other prohibited assets for their or their family’s personal use.”

The FT reported that tax experts expressed surprise at the government’s U-turn. “This is a complete turnround. It is extraordinary,” said Mike Warburton, tax partner at Grant Thornton.

Simon Philip, tax partner at Deloitte said: “The dream is over for those hoping to enjoy tax subsidised wine drinking and horse racing but it was fun while it lasted,”

Terry Walker of Spanish property specialists said: “This decision might have the opposite effect to what the Government intended. It could see more people buying sunbelt homes with their own money and low cost euro mortgages, rather than putting the purchase through a SIPP and boosting their pension. Spain with the biggest share of the second homes market could see a inrush of new sales from the start of next year as USA buyers focus on the equity growth and lifestyle benefits rather than their tax and pensions.

“It could be that holiday breaks have more appeal than tax breaks for many families”

There are several important things you need to be successful in real estate investing, one of which is a great team. I’m going to talk briefly about who should be on the winning team:

1. Your Mentor

Every successful entrepreneur needs a good mentor. A guide. By training under the watchful eye of one smarter then us, we can only get smarter. Start at your local investment club

2. Mortgage Broker

You want someone who has the experience of working with other investors. They need to be creative and smart!

3. Real Estate Attorney

It is really important to have someone on the team who can go through contracts, and who knows the legalities of all your moves.

4. Escrow Officer or Title Rep

Having a good one on the team helps to close deals that much quicker. You always want people looking out for YOUR interests.

5. Accountant

Preferably a CPA (Certified Public Accountant). Your numbers guy should also be well aware of the ins and outs of real estate. Come tax time, this is the man to help you through the write-offs!

6. Insurance Agent

It is always better having an insurance rep that is looking out for you when things hit the fan.

7. Contractor

The good contractor seems like the hardest one to find, but can often make or break your profit margin. You want someone who gets things done on time and under budget!

8. Supportive Family & Friends

Having the support and backing of loved ones is important in any endeavor.

Other Optional Team Members:

9. Realtor

Someone keeping an eye out for you

10. Property Manager

Someone to watch over your investments

11. Great Handyman

Someone to take care of the little things that come up on a daily basis.

Assembling the team will not happen overnight, but once together, they will give you the backing and help you’ll need to make your real estate investing dreams come true.