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How To Find The Best Real Estate Deals For Successful Property Investments

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It may seem impossible to find the right bargain  – but one simply needs to think outside the box, and be extra  creative for when it comes to seeking out the best deal.

One method, which is very old-fashioned, is to carry out door to door tactics. It is easy to target your clients because they’ll have a ‘for sale’ billboard outside.

The main reason it’s effective is that most of your competition will be unwilling to do it, therefore, leaving the playing field open to you.

Prepare a script beforehand, so you don’t get stuck with what to say (another reason why a lot of investors avoid knocking doors).

Tip:

Do not mention the word foreclosure. It’s too negative and can be the trigger word to turn away your prospective deal.

Preparing your sales pitch:

Ask lots of questions about the property, and if the owner has a blank expression on his face, then you can offer your expertise.

Basic customer service skills:
  • Be polite and friendly.
  • A positive state of mind (people will quickly notice if you are unconfident or down).
  • Ask open-ended questions, and let potential clients talk about themselves – people love to talk about themselves, and will help to build quicker rapport.
  • Make steady eye contact and smile.
  • Always use positive language.
Looking for Foreclosure Deals

Foreclosure is a situation which provides a win-win situation – the homeowner is undergoing foreclosure, because of struggles with mortgage repayments, so getting a quick sale before the foreclosure goes through, will be most lucrative for them.

Also, the sale will be discounted, in comparison to buying a property through regular channels.

The recession where foreclosures were at their highest peak, Real Estate was a tremendous opportunity for many investors.

How to find Foreclosure deals:
Use a foreclosure-listing service

Although you will have to pay a fee, the user will benefit from their hard work, by getting full access to over a million listings, which covers 80% of the nation’s counties.

The services will include:
  • Will have properties already in the foreclosure process.
  • The database is available online, allowing users to search through the portfolios available.
  • You can make offers online, which isn’t binding, but gets the process going.
  • The website gives property valuations, based on comparable prices in the area – a key indicator of whether you are getting a good deal.

The most commonly used platform is RealtyTrac. However, there are many companies available offering this service.

Use your local county office

The county office will contain all foreclosure information, which has been filed in your area (they may even post the details online).

Look at their website as some county offices provide listings and weekly sales.  You can search by street address or ZIP code.

Bank websites

It is the norm for banks to list all their foreclosure properties online.

The Bank of America has over 800 residential properties, including 156 in California. It features photos, home descriptions, prices and the agents’ contact details.

However, some do warn that this source can often limit listings, so you shouldn’t rely on it entirely.

Recommended tip:

Freddie Mac and Fannie Mae also provide online listings; they purchase mortgages from banks.

Search for government-owned listings

The Department of Housing and Urban Development lists foreclosed homes on their website and also their real estate agents. You can make an offer to the respective agency.

Warning:

Always check the state of the property before purchasing, as there is no responsibility from the agent on any problems or repairs.

Speak with local real estate agents

Agents will have knowledge on local properties, especially ones which are in the process of foreclosure. Having good relations will give you access to a network of other agents who can:

  • Keep you updated on the local market.
  • They work directly with lenders and banks.
  • See current properties, before they even become listed online.
  • Avoid making offers before it is too late.

This method will keep you in the loop, and is adequate for ensuring you get to the see the best real estate deals.

To round it off…

There are many methods to accomplishing a bargain for real estate property – the technique that is most important is making good contacts and creating relationships with professionals in the business.

There are many factors they can help on, especially for when it comes to legality, contract signing, seeing deals before they enter the market, and any other ad-hoc advice you may need.

Do not ever rush into a sale – always seek advice and do comparable prices in the local area, just to double check that you are getting the best bargain.

 

 

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Renters Staying Put Because Of Student Loan Debt

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Renters Staying Put Because Of Student Loan Debt

Getting on the housing ladder is becoming more difficult than ever.

As populations grow and asset-holders gain more bargaining power over asset seekers and renters, the prices go up as demand outstrips supply.

People are moving into cities and looking for places, but the number of options available increases slowly as fewer greenfield sites become a stark reality, in comparison to decades gone by.

This article details more on the topic.

Market feeling the pinch

While it is a seller’s market, confidence is falling.

House prices, both in terms of buying and renting, are rising so much that open house viewings have lower footfall, and fewer young professionals are deciding to take a mortgage because of the spiraling costs.

See the graph below for this illustrated:

p4.1

For example, a survey done by the National Association of Realtors (NAR) adds to the picture of a failing market.

Some three-quarters of US citizens responded positively to questions about whether now was a good time to buy; it is a falling percentage, especially among those stuck in high cost renting.

And those aged under 35 were the least optimistic.

Unsurprising, seeing as they have the lowest rate of ownership in history.

And the grass is greener on the side of the landlords, as you’d expect: 4 out of 5 said that it is a good time to buy. equity for them has risen dramatically, as data from Black Knight Finance Services said home equity has risen in the period January to April by a whopping $260 billion.

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Rising prices, rising demand

The all-time peak price for existing-homes was pipped earlier in spring, and there has been an average of 5% growth in house prices, with much higher growth, as high as 10% in the area where there is short supply and high demand.

One famous example is San Francisco, where Silicon Valley’s growth pushed up rents, pushing out residents on lower wages to make way for high earning tech workers.

Homeowners wishing to sell can do so fairly quickly, with investors and first-time buyers seeking to snap up properties left, right and center.

Then they can use their significant equity that’s accumulated over the years towards a new purchase.

And the increase in homes owned by investors and profit-seeking landlords helps to push up the prices renters have to pay.

Those already in debt unlikely to want more

And it is those saddled with debt already, recent graduates or not-so-recent graduates who haven’t managed to pay off their student loans, who are the least likely to respond positively.

Half under 35 who had not paid off their loans said they did not want a mortgage nor believed they would qualify.

Sponsored Link: If You Want To Find Out More Information of Lowering your Student Loans, Click Here

Lawrence Yun is an economist for NAR.

He says that at the time when people are in the prime to get a mortgage, around their early 30’s, they are often put off by the emotional and financial impact of still paying off a student loan.

This has huge effects down the line for stability, both social and financial.

Jorge from Northern Virginia, aged 32, rented for a whole seven years before he bought a home in the spring.

He co-owns a restaurant, and had a salary of below 100k a year, but had already managed to pay off his student debt, which made the process a little easier and less stressful.

He could only afford a one-bedroom flat, and this was largely thanks to a housing program for low-income individuals wishing to get on the property ladder in the DC area.

He says it was a really long process, and he ended up having to simply choose a small apartment.

Saving for the down payment was difficult, but Jorge is thankful he has finally gotten onto the property ladder thanks to the association.

Without it, he would not have been able to do so.

Final Word

New homeowners are currently at an all-time low, at about one-third when the historical average is about 40%.

Higher costs of construction have shifted building trends to more upmarket projects rather than affordable homes, pushing those at the bottom out of the housing market altogether.

The end of the graph shows construction flat-lining while the population continues to increase steadily:

p4.2

Were the supply of homes at the lower spectrum of house prices built more, this would not be such a problem, but there just isn’t the political will to do this at the moment.

Another problem is easier international transfers as opposed to decades gone by, allowing the upper classes and elites in developing countries to buy homes as investments.

The flip side is that the higher prices are allowing more homeowners to consider selling.

61%, according to the survey introduced before, said that it was a good time to sell, an increase of 6% from the beginning of the year.

So if you have the funds, there is the will to sell.

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8 Places Where You Can Live Off $200K Retirement Savings

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8 Places Where You Can Live Off $200K Retirement Savings

For Retirees in the United States, $200,000 in savings would be unlikely to last a 30-year retirement.

It’s little wonder why more and more Americans are choosing to spend their twilight years abroad.

Retiring abroad has many benefits – like cheaper healthcare, a lower cost of living, and a much-needed change of scenery.

When considering retiring abroad, you must consider the:

  • Cost – An obvious one. Can you afford to move there? Will it be cheaper than living in the USA, when including all flights and other expenses?
  • Culture – Are you familiar with that country’s culture? If you’re going to be living there for the rest of your life, then it makes sense to know how the people are.
  • Language – Are you able to get by, day to day, knowing as much of that language as you do? Will you be able to talk to the landlord properly? A very basic thing, but something that could cause problems during your stay.

Stretching your savings is even easier when you receive social security benefits.

In 2016, the average amount came to $1,341 for the average retiree.

$200,000, along with social security payments, should be enough to last thirty years in any of these countries.

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Many countries also offer retirement schemes, which can give you a handy tax-break or discounted transport costs.

With the right planning, you can make your money stretch.

Ecuador

The former Spanish colony boasts some of the most beautiful landscapes around, making it a hotbed for retirees and tourists.

Ecuador also has a better healthcare system than the United States, meaning any unfortunate accidents or illnesses can be rectified quickly, and without picking up a huge bill.

Apartments in the capital city of Quito start for just $538 per month – with the added cost of utilities for a mere $53 a month.

The Ecuadorian government also extends generous benefits to retirees to attract them to the country – included discounted services and transportation.

Nicaragua

Located right in the heart of Central America, Nicaragua is a first-class retirement destination without the first-class price tag.

Like Ecuador, the Nicaraguan government has sales tax exemptions on construction materials if retirees want to build a home.

To qualify for this, a retiree must be at least 45 years old and must have a monthly income of at least $600 – which could be appealing to people planning an early retirement.

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Thailand

Moving out of the Americas, we come to the Southeast Asian country of Thailand.

Known for its tropical beaches and ancient ruins, Thailand is a popular destination for retirees.

For Americans, the Asian culture will offer something exotic and foreign – a feeling which may not be matched within the home continent.

Retirement visas are available to people aged over 49 years old – so much time as they meet the minimum requirement of earning at least $1,863 a month, or having $23,000 in a savings account.

Thailand’s capital city, Bangkok, is one of the more expensive areas of the country – although it is still around 50% cheaper than New York.

However, living in more rural areas could bring down the price dramatically.

Belize

Heading back to the Americas, we get to the east-coast nation of Belize.

The Central American country boasts sandy beaches and scuba diving – as well has having a barrier reef to explore.

With a Caribbean shoreline on the east and a dense jungle to the west, it is the perfect place for an adventurous couple looking to fill their twilight years with excitement.

Belize’s forests are also full of historical Mayan ruins waiting to be discovered, and with an incredibly small population of just 331,000 people, it’s unlikely that there’ll ever be a queue to find your Mayan Calendar and send the Western world into a panic.

Belize City is a popular retiree destination – and not just for the views.

Rent on a fully furnished house can go for as little as $377 a month.

It is also a haven for wealthy individuals, as the Qualified Retired Persons Incentive Program allows retirees aged 45 and above not to pay any tax on earnings made outside of Belize.

Panama

Panama is a little bigger and a little richer than many of the options on this list – and therefore their housing isn’t quite as cheap.

Rental prices in Panama City are pretty similar to what one would find in the United States.

However, going out into more rural areas would bring down the price significantly.

The Pensionado Program allows foreign retirees to save a little extra cash by offering discounts on hospital services, utilities, flights and more.

Costa Rica

Costa Rica is well known for being popular with tourists – but what is little known is that it is ideally suited as a nursing home.

If you decide to live in the capital city of San Jose, rental prices can go as low as just $417 per month.

Utilities are also very cheap – typically between $48 and $79 per month.

Roughly a quarter of the country is covered in protected jungle – teaming with animals like monkeys and quetzal birds.

Malaysia

Malaysia’s cost of living is considerably cheaper than it is in the United States.

Especially when it comes to housing – rent prices are 69% lower than they are in the US.

The exotic culture and low prices make it a hotbed for tourists and retirees alike.

Your money can stretch a long way in this country – especially if you take advantage of government schemes for retirees, like the Malaysia My Second Home Program.

Spain

Perhaps the most well-known country on the list, Spain offers a rich heritage and culture and, being in mainland Europe, is in a prime location for those who may wish to travel in their retirement.

The cost of living is not dramatically lower than in the United States – around 20% lower.

However, one of the biggest expenses, rent, is roughly 50% cheaper – which would likely save you an enormous amount of money in comparison to living in the USA.

Qualifying for a Spanish Visa is not a massively complex process – you only have to be able to show proof of residency and proof of income, as well as being free from any illness which may be classed as a threat to public health.

In conclusion

Having an enjoyable retirement for less than $200,000 is not impossible at all – you just have to be willing to look at some somewhat unusual places, which can add to the excitement of it.

All of these countries are very different regarding culture and lifestyle – but one thing they all have in common is that they are considerably cheaper than the United States.

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Discover The World’s Best Luxury Real Estate Markets

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The luxury real estate market contains the world’s most sought after properties.

These luxury properties are available on the market for prices in the region of $1 million to $66 million.

The current housing market

The current global markets are rising thanks to low-interest rates.

The top performing countries continue include:

  • United Kingdom
  • Canada
  • Sweden
  • Australia

The two top performing countries for house prices are Canada and Sweden.

Housing prices in Russia and Brazil are going against current trends, and continue to fall due to high-interest rates, growing unemployment, and severe recessions.

The US housing market is continuing on a steady upward trend.

Contributing to this is a surge in demand and an improving jobs market.

 

Uncertainty in not just the housing market, but in the markets as a whole, has begun to surface due to the current unease in Europe.

Despite steep falls across the financial markets over the weekend, the markets appear to be stabilizing towards the end of the week with stock markets currently showing mostly growth.

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The luxury housing market

The top luxury housing markets in 2015-2016 have been:

  • London
  • Hong Kong
  • New York
  • Los Angeles
  • and Singapore

What makes these places attractive to property buyers and how have the current markets affected them?

London

After a period of growth in 2013, the luxury housing market has been declining due to new tax policies.

Despite these declines, London continues to be popular with domestic and international property investors.

London boasts high numbers of luxury properties, the average price of luxury real estate is $2,356,292.

The EU referendum caused luxury-housing sales to slow down in the capital; however, the housing market has shown signs of growth despite the left vote winning.

It is uncertain if this will continue to be the case.

Hong Kong

Hong Kong boasts the most expensive luxury property sale, at $194 million in 2015.

Property sales have declined in the last year due to ongoing government regulations.

Hong Kong, however, remains popular with Chinese and international investors.

New York

New York boasts several high priced property sales and currently places just behind London for great sales.

The Stock market’s volatility has hit the New York luxury housing market due to low liquidity from buyers.

The hit on the luxury property market is affecting the whole of New York.

Los Angeles

The average sale of a luxury property in Los Angeles is $2,590,000, with the high end of the market hitting $60 million.

Los Angeles boasts many high profile properties and residents including Hugh Hefner’s Playboy mansion; the estates are sold in the region for $200 million.

Sale prices have shown a slight slowdown when you compare growth in 2015 with growth in 2014.

Singapore

The average price for a luxury property is in the region of $1 million, with the highest priced at $66 million.

The decline of house prices disturbing the luxury housing market is affecting Singapore, with the liquidity of buyers contributing to this gradual decline as well as Government cooling measures.

Other luxury property markers

These are not the only luxury property markets available; there are also luxury property markets available in:

  • Paris
  • Miami
  • San Francisco
  • Toronto
  • Sydney

Despite stock market fluctuations and shifting in the fortunes of buyers, the luxury property market is carrying on.

Conclusion

The whole of the global housing market is currently on a gradual rise, although how long for remains is unknown due to uncertainty in the financial markets.

Despite predictions of global chaos, the stock market has shown slight signs of growth.

However, experts believe that we have not yet seen the fall-out from the EU referendum.

Currently, there are increases in house prices seen across the globe with the expectation of Brazil and Russia.

Brazil and Russia are going against the trend due to many economic problems such as high-interest rates and low employment levels.

The luxury housing market has seen a slowdown in house prices.

There are many reasons for this, however; economic issues, Government interventions, and reduced liquidity among buyers are the most common contributing factors.

Each of the cities listed all have different strengths and weaknesses.

London boasts the most amounts of luxury properties, however; Los Angeles is famous as the home for the rich and famous.

The luxury property market, much like the rest of the financial markets, appear to be holding on despite all the trouble already faced and that which may be yet to come.

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