Landlord Investing

People who are selling their home in order to buy another frequently put a “coinciding settlements” clause into their contract offer on the new home. One reason for doing this is so they can move from one home to the other at the same time.

Coinciding Moving Day?

One reason people want coinciding settlements is so they can move out of one house and into the other the same day. Sometimes this works out. Sometimes not. If it doesn’t work out, don’t freak out. 

For example, if the house you’re buying is a new one, it may not be completed and have an occupancy permit by the date specified. Are you going to risk losing the sale of your old home by insisting that settlement be delayed? Not if you’re smart and you really want to make this change. You might explore delaying settlement, or the option of a “lease back” period. If those ideas don’t fly, it’s time to cope.

Depending on your budget and the length of time between moving out of your old home and moving into your new one, you could:

1) Have the moving company store your furniture and household goods, or

2) Rent a “smart box,” pack your household items into it, and leave it parked in front of your old home, or park it in front of your new one (depending on who grants permission), or

3) Store your things in the basement or garage of your new home (with permission), or

4) Rent a storage unit by the month, or

5) Store your things in the basement or garage of a relative or friend, AND

A) Stay in a hotel or motel for a few nights, or

B) Stay in an extended-stay hotel or motel suite, or

C) Stay with family or friends, or

D) Go camping, or

E) Some combination of the above.

The point is to act like a mature adult. Be flexible. You’re making a big change. The chances it’ll go off without a hitch are slim. Keep things in perspective. Practice creative problem solving. You’ll be proud of yourself and have a smile on your face when moving day comes.

Condo or condominium is a housing option that looks like an apartment complex. Condo ownership lets the owner to own the condo only not the land. Condo owners have to pay monthly fee for maintaining common areas. 

Generally the association of property owners manages condominiums. Owners of condominium can do anything inside the their unit but not the outside. You’ve to clear all related points that what you can do or not inside the condominium at the time of signing the contract. You should check that whether it satisfies your requirements or not. 

Condominium buying is just like purchasing single-family homes. Condominium offers a joint ownership of real estate and partners can use common recreational areas. Condo buying is the cheaper option as compared to real estate market. It offers great living opportunity in United States. It is the great option for the people who travel a lot. Several owners of real property offer condos with kitchens and private bedroom that enables residents of condominium to cook their food. They can save money by cooking their meal own. 

Condo buying offers ownership without maintenance harassment, repairs and security concerns. Condos are usually luxurious and cheap housing options and you can spend your holidays at beautiful locations. Before any type of purchase check parking spaces, bathrooms, fireplace, condos’ area, amenities such as pool, health club etc, area costs, and security arrangement.

Condos’ buying is an important financial investment. Before purchasing unique condominium answer yourself for some general questions like:

Which area of the city is best suitable to your lifestyle?

What type of condo do you want? 

How much you can pay for it?

How do you make purchase of condominium?

You should research for the builders’ reputation on Internet or personally before any type of agreement. Read purchase and sale agreement carefully and check all terms and conditions that will apply on the transaction. Be sure about all details of condo homeowner association that includes costs of monthly maintenance fee. The decision of buying condo should be based on social, legal and financial understanding. You should check whether the property is right for you and your family for a long period. Important documents such as the declaration, operating budget, management agreement and regulatory agreement should be reviewed at the time of buying a condominium. 

Condo buying is not the best option for all. People who don’t want to share certain areas, like pool etc, with other condos owner should go for single home ownership instead of condominium. Sometimes total price of condo is lower than single-unit home. Condos’ residents should be aware of condominium settings. They can share their problems in monthly meeting with the association. It is compulsory to attend meetings and discussions. You should be active in community events while living in condominium. 

You can talk to several professionals online to get all useful information about a particular area. They will provide significant information to make an easy condo buying. You should make your condos buying with complete understanding and awareness.

The Wreck of the Richard & Charlene

Although settled in an old icehouse, this seafood restaurant has all the warm southern charm it needs.  The Wreck of the Richard & Charlene is one of Charleston’s local favorite food establishments.  As hurricane Hugo swept through back in 1989, it plowed over the same spot the restaurant now stands.  Directly in its path was The Richard & Charlene, a North Atlantic trawler.  As the winds and the water did their damage, the trawler was slammed back and forth into the neighboring dock.  This restaurant was named in memory of that stormy day.  If you want a true southern experience, this is the place to come.  To the citizens of Charleston’s, it truly is one of their prized gems.  

Gullah Cuisine

Charlotte & Frank are famous for their traditional Gullah cuisine.  The food became so popular while they were in the catering business that they decided to open up their own restaurant in 1997.  If you are not familiar with the term Gullah, it stems from a unique and rich heritage. The Gullah are African Americans who have settled into the Low Country region of Charleston, South Carolina and down into Georgia.  When you come to Gullah Cuisine you will find a plethora of good ol’ country food.  Collard greens, okra soup, green beans, macaroni, succotash, cabbage, candied yams, barbequed chicken and of course, Charlotte’s famous fried chicken.  If you’re looking for Pork Chops, you’re also in for a treat.  Once you’ve eaten here, you’ll be coming back for more.

Cru Café

One of a Southerner’s favorite past time is sitting on the front porch enjoying a glass of sweet tea.  Why not come to Cru Café and do the same?  With both indoor and outdoor porch seating, you can enjoy Charleston’s food at its finest.  Cru Café is known for their upscale comfort food and indulging desserts.   Renowned Le Cordon Bleu Chef John Zucker opened Cru Café in 2002 and since Charleston has been in love with the place.  The café has won multiple awards for their catering crew and is ranked as a top eatery by locals and tourists.  Get a little taste of heaven while enjoying downtown Charleston and all it has to offer

By now, you’re probably pretty well acquainted with the process on of focusing on the property type and area you want.  You know the zoning which supports it and you’ve reviewed in detail the zoning maps.

Now what?  It’s time for some legwork.  You want to put into use some of that book learning and researching you’ve been conducting.

Take a look at your zoning maps with highlighter in hand.  Now highlight the areas you want to go look at.  Then you get in your car and drive around to take a look at those areas and neighborhoods.

It’s that simple.  It will be an eye-opening experience.

Here’s what you want to do specifically:

First, and most importantly, take your time.  This isn’t a race.  There’s no winners or losers for getting it done quicker.  

The expedition is about gathering information and getting a feel for the area.  Your goal is to review the area and the properties on an overall basis.

As you drive around the area, take note of any properties which are in transition.  Meaning they have signage that says “For Lease”, “For Sale” or “Sold”.  When you get back to your office check out the history of those properties.  Call the owners, brokers or agents to find out more about each of the properties.

Why would you want to do that?

Well, for one thing you are looking for pricing information.  For instance, how are people paying per square foot?  What are the terms and conditions.  The ones that are for rent are wonderful indicators,  because you’ll be able to piece to together the income potential for the area.

Number two, you want understand how the market is appreciating over time.  Plus, it is  wonderful feeling to discover a diamond in the rough.

Number three, if a property is for sale, it just might be up your alley (no pun intended).  And you can start the process of analyzing whether the property is a good deal.

Now, that you are starting to get a feel for the area, go ahead and visit the other areas highlighted on your map.  You’ll notice similar but different transitionary aspects of each sub-market you scout out.

This is where it gets really interesting.  Start to ask yourself why the changes.  What are the reasons for the appreciation or lack of appreciation.  Then get your answers from the brokers or owners you are representing the properties.

It’s important that you ask these people because they definitely have the answers you and need going forward.  Your knowledge of the market will give you the opportunity to talk intelligently about the opportunities as well as the advantages and disadvantages.

The best part is you’ll start to make some good contacts, and maybe even friends or future investment partners.

As you continue driving around you’ll begin feeling more and more comfortable.  The process will become easier and you’ll start to notice the nuances and details.  And then you’ll automatically start making comparisons and evaluations.

Again, it is vitally important you take your time and take the time to enjoy the process of discovery.

Colorado is the land of the Rocky Mountains and all that comes with it. Located in the foothills, Denver is the central location for Colorado real estate. 

Colorado

A state dominated by mountains, Colorado is a popular relocation spot for outdoors enthusiasts. The state offers skiing, hiking, rock climbing, fishing, camping and other activities in the mountains in combination with big city sophistication in Denver. A beautiful state, Colorado experiences the full effect of the four season of spring, summer, fall and winter. 

Denver

Located in the foothills of the Rocky Mountains, Denver is a modern metropolis and is growing. Undergoing serious redevelopment, Denver has sprouted a new sophistication with a lively night scene, strong cultural feel and big city sports teams. With a population approaching two million, the Mile High City is experiencing significant growth and is starting to experience the negative aspects of too many people. Still, there are plenty of jobs and the city is a great launching point for experiencing the surrounding mountains. 

Boulder

Home to the University of Colorado, Boulder is a classic little college town in both atmosphere and appearance. The town is such a pleasant place to live, many have tried to relocate there causing high real estate prices. With the liberal attitude typical of a college town, Boulder is pricey but an absolutely great place to live. 

Steamboat Springs

One of many ski resort areas in Colorado, Steamboat Springs is a personal favorite. Originally a ranching town, Steamboat Springs has a definite western atmosphere complete with Cowboy poetry readings and so on. Sitting in a small prairie and surrounded by sweeping valleys, the area is visually stunning in the winter. In summer, flowers bloom and hiking, mountain biking, camping, fishing, bird watching and practically any outdoor activities are readily available. An absolutely great place to live. 

Colorado Real Estate

Colorado is one of the more popular relocation destinations in the United States. Californians, in particular, seem to be flocking to the state to escape the crowds and outrageous costs of living in California. One of the keys to getting a good deal in Colorado is to look just outside of centralized locations. You can easily find real estate at a thirty or forty percent discount as little as five miles out of town. 

Colorado real estate prices are highly dependent on the location. Denver is reasonable with prices averaging $325,000 for a single-family residence, while the same home in Boulder will cost you an additional $200,000. Move up into the mountains and you can expect prices to do the same.

The Colorado real estate marketing is currently undergoing a bit of a consolidation process. For 2005, appreciation rates have been a relatively low six percent on average.

If you have been thinking about purchasing a real estate property for personal use or as an investment, you’ll need to hire the services of a real estate investor. If you play to finance your home through a bank or other lender, you’ll more than likely need to get the property appraised first. Banks and most lenders want to know the value of the home for your protection, as well as make sure that the home they are financing is worth the total amount that you take on the loan.

In most cases, the appraisal indicates that the home does indeed meet or exceed the asking price. In some cases however, the appraisal will come back saying that the home is worth less than the selling price. If this is the case, the buyer normally has to either drop the deal or try to negotiate with the seller to get a price that meets the appraisal.

For those very reasons, a real estate appraiser is very important. When you are dealing with a home, one appraisal can make a deal or break it. Even though you may not be financing your purchase through a lender or the bank, you should still make an effort to get the home appraised and find out the true value. You should also make a point to find the best appraiser that you can afford. If you hire an appraiser who isn’t that experienced, you’ll pay for it later when you discover that the property isn’t worth what you paid for it.

A real estate appraiser will go through the home performing an evaluation, and then provide you with a written evaluation after he has gathered all necessary information. Appraisers will also taken into consideration the replacement costs as well. Also, they will have to very land descriptions as well. There is a lot of work involved with appraisals, which is why it’s so very important that each step of the process is performed correctly by a qualified real estate appraiser.

If you have a real estate agent, he or she will more than likely be able to make a recommendation. Keep in mind that this doesn’t mean the recommendation is the best; it’s just someone who your agent works with. To ensure that you get the right appraisal on your home you’ll need to find yourself an appraiser who is capable of completing the job.

When you look for your real estate appraiser, you should look for someone who comes highly recommended. You can ask family and friends for their opinions, or search local papers, even the Internet. If you take your time and search for the best real estate appraiser that you can find – you’ll normally get an appraisal that is right on target.

For those who are looking for an excellent way to generate outside income, the commercial real estate industry is a great way to go. Many people have begun to invest in commercial real estate, and since this type of real estate is continually being purchased and sold, it has become an excellent way to invest money for a guaranteed return. Before one becomes involved in the commercial real estate market, it is highly important that they understand the commercial real estate industry and its many surrounding components.

A Basic Definition of Commercial Real Estate

First and foremost, it is imperative that one understands a basic definition of commercial real estate. Essentially, commercial real estate includes various real estate properties that have the potential to be able to generate outside revenue or even income for the owner. Whether the property has immediate potential for generating income or revenue immediately, or perhaps in the future, it can still be labeled as commercial real estate.

A Desirable Investment

Commercial real estate is an excellent choice for investors for a variety of different reasons. One of the main reasons that investors find commercial real estate to be such a pleasing investment is that is brings about both long term and short term financial benefits. In the short term, commercial real estate can help you bring in a better cash flow from the use of the property, and at the same time, in the long run the property will only appreciate in value, which will result in long term benefits should you choose to sell. Most investors also find that there is a lot less risk involved with commercial real estate than there is when dealing with other types of real estate. If you purchase apartment buildings or a strip mall, the risk of your investment will spread out among those who are renting from you, and even if you lose one of your renters, you still will be making money and seeing a return from your investment.

Commercial Real Estate Properties

Another positive benefit of commercial real estate is that the scope of properties that you can invest in is quite large. Commercial real estate includes various different properties that make excellent investments. As long as the building consists of more than four units, it can be considered a commercial real estate property. Commercial real estate also includes other properties such as strip malls, apartment buildings, RV parks, industrial parks, mobile home parks, and commercial centers. 

Jobs within the Commercial Real Estate Industry

There are a variety of different jobs that are included within the commercial real estate industry, and all of them benefit from this excellent market. The investors have a very important job within the industry, since it is their money that is being used to make the property develop and become prosperous. Builders too have an important job, and many times they work within the commercial real estate industry to build new structures on commercial property such as apartment buildings or shopping malls. The lenders have a very important job, and they work to make sure that investors get the loans and mortgages they may need to be able to purchase commercial real estate properties. Also within the industry are the brokers who represent the owners and deal with the sales and property transfer issues. Last of all, but certainly not least, are the users who actually put the money in the investor’s pocket.

Financing Commercial Real Estate

Those who are planning on being involved in commercial real estate need to consider how they can finance any commercial real estate purchases. While few people can actually just purchase the property with money they already have, most people are going to be turning to other methods of financing the property. More than likely you are going to need to go to a lender to be able to finance any commercial real estate that you want to purchase, but there are a few things that you can do to make the process smother.

First of all, you will want to make sure that you have a business plan. You need to be able to show the lender why you want the property and how you plan on making it a successful investment. It is also important that you have at least a portion of the money needed for the property saved up so you can show that this is a serious venture and you are ready to make a personal investment in its success. Also helpful is a current appraisal of the property you are considering. This will help show the value of the property to the prospective lender. Having an attorney to help you and to check out legal issues will also be important, and in the end you should always compare several lending offers before making a final decision.

Getting Started

For those who are interested in commercial real estate and the financial benefits that can be enjoyed, there are many ways to get a start in the business. One of the keys to getting started is to glean all the information about the business that you can, whether from reading books, searching the internet, or speaking with friends and business colleagues that may have experience in commercial real estate investing. Checking into the area you live in and getting a look at what kind of commercial real estate is available and what the prices are running can help you begin to get a closer look at the costs and the availability of commercial real estate in your area. Attending zoning and city planning meetings may also give you insights and ideas for getting started as well. Lastly, one of the best things you can do is to start building a network of friends and business acquaintances that already have their foot in the door of the commercial market. Learning from their successes and mistakes can help you on your way to becoming a successful commercial real estate investor.

The prices of condos are going up in some areas and down in other areas, but one thing is for sure, condos are here to stay! Condo living looks like being the way of the future and there are several quite diversified reasons for their popularity.

One is obviously a reflection on our society – many of us just feel safer living in a close community that offers protection of some sort. There is also the fact that most condo owners live up higher than ground level and it is known that more burglaries happen in first floor condos.

A higher proportion of condos are also being built as gated communities these days, so condos offer much more security than a single family dwelling. Many condos also offer 24 hour security patrols or underground parking.

Security is a big factor for all of us, but especially older people who may feel frail. With the baby boomers reaching retirement age, the largest ever population of pensioners will be looking for secure housing. 

As age creeps upon us, we want to do fewer chores and have more peace. Another reason why a condo is so appealing as most condo maintenance is looked after by the management. Being able to walk though lawns that are fed, watered and cut by someone else has its appeal, as does swimming in a pool that is always at the perfect Ph balance!

There is another reason why members of the retirement population may like condos; it is easy to find friends in the unit and to visit without too much effort. Many condos also have a balcony, which is about enough outdoors once your back does not let you do the gardening anymore!

Real gardening buffs can search out a condo block that has large balconies and grow vegetables in pots! Make sure that you are able to grow vegetation on your balconies, this ‘permission’ thing may be an unfamiliar idea for those who are moving from single family dwellings.

Condos always have ‘house rules’. They are there to protect rather than to hinder, but they are all individually designed. Rules can be vastly different from one condo unit to another. It would be extremely important to check the rules before you make your decision to buy. 

If you find a condo with the type of rules that would fit into your normal lifestyle pattern, then there will be no conflict in your new life – that is if you are planning a change!

If you are buying or selling a home, the chances are good you struggle with the meaning of descriptive real estate terms. Here are explanations and definitions for more terms. 

“Shed Dormers” 

These are often seen in Dutch colonial style houses and are flat roofed dormers. Sometimes these dormers are single windows, but often they are two or three windows side by side with one flat roof. 

“Blind Dormer Window” 

Sometimes builders construct fake dormer windows to add architectural interest to new houses. They are at attic level but can’t be seen from the attic because the roof of the house covers access to them. 

“Oversize Garage” 

Ads often say how many cars a garage will hold. Then they add the word “oversize” as in “oversize 2-car garage.” What is usually meant is that there is room for storage, or a work bench in addition to space for the cars. Occasionally it simply means you can open a car door wide enough to actually get out with both cars in the garage! 

“Gourmet Kitchen” 

This phrase is intended to convey the idea that a very good cook can happily work here. That may or may not be the case, but it does usually mean that the kitchen is fairly large and attractive. 

“Great Room” 

I’ve seen this used in two distinctly different ways. The first is to describe a living room, dining room, and kitchen in a very open floor plan. The area typically has a high ceiling. The second way I’ve seen it used is when what we’d normally call a family room has a high, often coffered, ceiling, a fireplace with a dramatically massive mantle, and perhaps an upstairs balcony overlooking it. I think this may stem from the idea of a “great hall” in old English houses. 

If you can get the verbiage down, you’ll be way ahead in the real estate game. Look for future articles on this subject or visit our site to read more terms.

With the rampant development happening in most parts of the country, the purchase of land is becoming more and more secure in terms of investment. Have you ever wandered around the undeveloped areas in your town or city and wondered who owns them? Or maybe you have seen the “land for sale” signs on open lots and fields. Well, people are making great money on selling land for new developments and sub-divisions. Who owns that land? It could be you.

Investing in land is something that takes a bit of research, timing, and some risk but it can be extremely rewarding if done properly. The first thing you need to wonder about when considering a certain piece of land is the zoning of that land. This is probably the most important factor in land purchases. If the land is not zoned for residential, getting the zoning changed for sale to a development company interested in sub-divisions could be kind of tricky. The same can be said for land that is not zoned for commercial purposes. So do your homework when looking at different land parcels. Make sure that the zoning is appropriate for you and who you want to sell to at the end.

If you are thinking large scale when doing this, prepare to spend a fair chunk of cash. These days land is not too cheap. But in comparison to what you can expect as a ROI in a few years it is well worth the time and money. If you live in an expanding area where housing is at a premium then buying land is a fantastic idea. It should only be a matter of time until the developers come knocking. Or, if you are so inclined, sub-divide your land yourself. The process does have some merit as a great profit can be realized from the sale of single home lots. When you get down to brass tacks, investing in land is a great way to make some profit and increase your wealth exponentially.