Tag: real estate
Bridging Loans Explained
Bridging loans have become popular among borrowers for all the right reasons. With everyone talking about bridging loans, including the mainstream media, the chances are that you have already heard of these loans before. This is especially true if you are trying to move houses. However, several people do not know what a bridging loan is and how it works. Taking a bridging loan could be the best thing to do if you have found a dream house you want to acquire before someone else buys it, and you are yet to find a buyer for your existing home, which still has a mortgage. A bridging loan will give you the funds you need to buy the second house as you wait to sell the current one. Even so, there is so much more to bridging loans than you might imagine. In this guide, we will discuss everything about bridging loans from the basics, pros, and cons. keep reading to discover everything you need to know about bridging loans. So what exactly is a Bridging Loan? Simply put, a bridging loan is a short-term loan taken on top of the current home loan. As the name suggests, a bridging loan is usually taken when you need to buy a new house immediately before selling your existing home. When you take this loan, you will be paying interest on two loans. To put things into perspective, bridging loans are a form of interest-only loans. The value of your existing property will determine the value of the loan. It is also vital to note that these loans have limited terms and contain special concerns. Depending on the lender, the amount and terms of the loan will vary. You can view this bridging loan calculator first before you apply for the loan to get a glimpse of your financial responsibilities. The structure of bridging loans differs from one private money lender to another. Some private lending providers will require you to continue serving your loan until you settle in your new property. The private finance providers will the interest of your two loans together during the loan duration. Once you find a buyer for your second property, the mortgage will be discharged. You will then start paying the principal and interest of your current loan. On the other hand, other private lending providers will ask you to service both loans after taking a new one. After the sale of your home, the initial mortgage will be discharged, while the bridging loan might be converted into the home of your choice for your new property. When taking a bridging loan, it would help to think about compounding interest because you will be charged for both loans. Always keep in mind that you will end up paying more than you should if you fail to find a buyer for your house quickly. Bridging loan interests are calculated daily and charged monthly. Another key element you should have in mind is the duration of the bridging loan. These loans usually last around six months to 12 months, depending on the private finance providers and your preferences. Your loan length will be six months if you buy an existing home and 12 months for a new one. What are the Pros and Cons of a Bridging Loan? Now that you are aware of what a bridging loan is and how it functions, it is time to look at the pros and cons. Understanding the benefits of these loans and the challenges you are likely to encounter when you take a bridge loan will help you make the right decisions. Here are the pros and cons of a bridging loan: The Benefits of a Bridging Loan: Bridging loans have so much to offer. It is crucial to understand what you should expect with this type of loan to get the best options. Here are the pros of bridging loans: More Convenience: Do you want to buy your dream home quickly? A bridging loan will allow you to do just that even if you have not sold your existing house just yet. Flexible Repayments: Depending on your bridging loan structure, you will only have to service your existing home loan finance when you take a bridging loan. Avoid Further Expenses: You will not have to rent when you take a bridging loan. It will allow you to move even if you do not have a buyer for your house. Considerations of a Bridging Loan: Like is the case with any other type of loan, bridging loans also have their fair share of cons. For instance, you will be forced to pay more if you fail to sell your house as soon as possible. Choosing the Best Bridging Loans for Your Needs: Bridging loans are categorized as open bridging loans and closed bridging loans. Closed bridging loans have a pre-determined settlement date while open bridging loans do not have an agreed settlement date. When looking for a bridging loan, it will help to consider the duration, interest rates, and loan structure. It would also help to compare alternative loans before making the final decision. Above all, it is essential to find the right private lending company. Fortunately, you can use an easy-to-use online platform such as ADS.finance to find the best private finance option near you. Read Also: 5 Best Things an Experienced Real Estate Agent can do You Need to Know the Pros and Cons of a New Career in Real Estate 7 Tips To Purchase A Prime Real Estate Property
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How to Use Videos to Get Real Estate Leads from Social Media with Little Effort
Being a real estate agent is already a tough job. With all the other agents out there and the competitive market, agents need to do their best to win their share of the market. But it has become even harder in the market since the direct marketing strategies are not as effective as they used to be. hard-earned cash is spent on ads on Facebook and Google and little is returned. The Roi of direct marketing strategies is not satisfactory. This does not seem to be a one-time decline in the performance of direct marketing methods. There seems to be a logical and meaningful trend emerging in the market: the audience is exposed to too many marketing messages and has started to ignore all-the-same ads. However desperate it might make agents, especially those new to the business who do not enjoy the advantages of word of mouth and referrals, repeating the same mistake over and over is not going to fix anything. There should be another turnaround to this predicament. And that is to look at the problem and think of what the audience wants. The Root of the Problem: Bad Content Real estate just like any other field in business is overwhelmed with the huge load of marketing messages in which real estate agents all claim to be the best, but most offer the same message. A brief look at the ads on social media platforms and Google shows that a majority of ads are centered around the agents and few focus on the needs of the clients. “Content is king”, said Bill Gates back in 1996. Back in the day, he saw the potential internet has and saw the content as the pivotal point. The content indeed turned to be the king. In an era, where people are tired of all those ads with nothing to offer, content is the key to stand out and be unique. Of course, everyone can make content, but not everyone creates great content. But what is great content? the long and the short of it: content that your audience is looking for on the internet. It caters to their needs and problems. Real estate is quite complicated in the eyes of the homebuyers and home sellers. They have many questions which they try to find answers to. Agents who focus on these questions and problems tend to become the go-to guy. The expert they are looking for. Videos, Videos, Videos We simply cannot highlight this enough. Watching videos is now easier than ever thanks to the advances in technology which has resulted in an increase in internet speed. Every day millions of videos are shared across different social networking platforms like Facebook, Instagram, Twitter, etc. on the other hand, YouTube as the biggest video sharing platform has made videos easier to watch. This is all good, but the problem is unlike watching videos, creating them is not easy. The great content we mentioned in the previous paragraph is offered best in the form of videos. roomvu market update videos A bad video should be better than no video, right? Wrong. Reputation and brands are so delicate in real estate that it is not recommended that agents risk them by using poor videos. As videos are hard to make many agents would rather stay away from them and forget about the benefits they offer. With a few searches on the internet, agents can find many great tips on how to record their own real estate videos and also the ideas to base their videos on. Another option is simply to hire professional real estate video creators to do the job for you. It might seem like extra expenses, but the ROI is definitely worth the cash you spend. roomvu neighborhood bio videos Social Media, Automated Social media is one of the greatest avenues to generate leads in real estate. The features popular social media platforms offer, like Instagram live for real estate all help agents reach their audience on a larger scale. If you have the time, skills, and patience to manage a couple of social media accounts properly, create appropriate content, and keep it consistent, go ahead. But given the hectic schedule, most agents run; it is unlikely. The only way to make it as a real estate agent on social media is to keep it interesting, informative, and valuable for the audience and keep it going all the time. This is probably what keeps most agents away from giving social media a shot as they do not have the time, skills, content, etc. All these do not mean agents can't enjoy the benefits of social media. In fact, social media automation systems like roomvu real estate social media automation calendar can take care of all from content creation to sharing them on social media accounts. There are many platforms that offer social media automation. roomvu does what needs to be done effortlessly and also offers a free calendar. All agents need to do is connect their social media accounts and pick the right content provided by the roomvu content factory and then let the technology do the rest. roomvu social media calendar Final Words Whether agents like it or not, they can't insist on old-school methods. Furthermore, direct marketing methods too are failing due to being all the same and offering no value. No one clicks on ads anymore. It does not mean that ads are bad. The problem is that they offer nothing other than a bunch of claims which the audience is sick and tired of. What is suggested here is that agents need to take on a novel approach towards their marketing efforts. Coming across as a helpful expert who is always out there sharing valuable information and helping the audience with their needs by providing insightful answers through valuable content in the form of videos. This mindset requires patience and consistency as the desired community is not built overnight. Thinking of customers and their needs and concerns as the highest priority instead of claiming to be the best agent out there, is the key to success in real estate’s highly competitive market. Read Also: Best Transaction Management Software for Your Real Estate Business 8 Social Media Tips for Your Business How to Start Social Media Agency in India 5 Easy Estate Planning Tips to Help You Plan for the Future
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Real Estate 101 – 3 Simple Tips to Boost the Value of Your Property
Whether you’re looking to downsize or are relocating to a new area, there’s a good chance that you’ll need to get your property sold quickly. However, selling a house is neither a simple nor straightforward task. After all, not only is the real estate market oversaturated. But there are a lot of factors that can deter you from getting the money that you want out of your home. The good news is that there are ways to keep depreciation at bay without having to spend a small fortune in the process. And with a little bit of preparation and research, you might even give yourself some excellent bargaining points and get as close as possible to your asking price. To this end, here are a few simple tips to boost the value of your property. Real Estate 101 – 3 Simple Tips to Boost the Value of Your Property 1. A little curbstone appeal can go a long way They say that first impressions last. And this statement is true, especially when it comes to selling a home. And if you want to entice prospective buyers to purchase your home, it will need to look as good on the outside as it is on the inside. And because of this fact, it makes sense to work on the curb appeal of the property. From doing a little bit of landscaping and retouching the paint on the exterior of the house to getting rid of any debris or junk. If you have a scrap car Gloucester firm Phelps will take it away for you. A little time and money invested in making your home aesthetically pleasing can go a long way in piquing the interest of aspiring homeowners. And, in turn, increase the value of your property. 2. Make sure that your home is depersonalized No matter how much history or memories you have built-in your home, none of it matters to potential buyers. So before you list your property for sale, make sure that you depersonalize the house completely. By removing artwork, collectibles, photos, and other personal items, you’ll present the market with a blank canvas that will not only help make them feel more welcome. But also allow them to imagine themselves living in your home much easier. More importantly, de-cluttering your home and keeping it neutral will also add some square footage. And as a result, give you another talking point to drive the price up. 3. Price the property reasonably Let’s face it: we all want to get as much money as we can from our properties. However, economic conditions and market demands will often ultimately determine the price. And while you don’t necessarily need to undersell your home, it’s crucial not to overprice it either. So make sure that you do some research and price your home reasonably and accordingly. In this way, you’ll be able to reel in more potential buyers and get your house sold quicker than you would have otherwise. There’s no denying the fact that it’s not easy to sell big-ticket items like a house. But with these tips, you’ll be able to find the right buyers for your home. More importantly, you’ll be able to land a much more favorable deal in the process too. Read Also: 5 Tips For Transport & Logistics Business Owners Before Investing In Insurance 4 Questions To Ask From Your Home Relocation Company
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Best Transaction Management Software for Your Real Estate Business
There has been a myriad of changes that have occurred throughout the past two decades that have immensely shaped how our society functions. In the past 20 years, the Internet has been the single most important entity throughout all of society, and as it continues to gain in popularity all across the globe, we will continue to witness its effects. Real Estate Transaction Management Software Helps Agencies. The Internet has created a modern digital revolution, and this has led to transformation throughout our civilization in the 21st century. While much has been revolutionized by the rise of the Internet, one of the most influenced facets has been the economy. The modern economy has been affected by the rise of the web, and one field where this change has become increasingly evident is in real estate. What Transaction Management Software Will Do to Aid Your Real Estate Business? Changes in Real Estate Real estate has been altered in a multitude of ways by the rise of the Internet, as people can view listings on specialized real estate websites, as well as finding real estate agents online. While there have been a variety of changes that have come about in the real estate field in recent years, one of the most influential of these alterations has been the introduction of transaction management software. Real estate transaction management software has greatly aided in growing and maintaining real estate agencies, and learning about this program and investing in it for your business will prove to be extremely beneficial. Real Estate Transaction Management Software Helps Agencies While many real estate-specific technologies exist, none are quite as helpful as real estate transaction management software. This software aids real estate agencies with organizational and managerial benefits that help to ensure a more effectually run company. This could be compared to how landlords have moved past paper rental application forms and now use online rental application forms like these, https://www.ezlandlordforms.com/documents/rental-application-forms/, in the end, it is much easier. There are numerous aids that this program can provide, including recruiting the best agents, growing your business, and closing deals more efficiently. The biggest focus of real estate transaction management software is the digitization of documentation that is essential for deals. Having all of your agency’s documents in a single location in a digital format will enable you to more efficiently run your enterprise. Agents on your team will also be able to submit their documents from their own computers, tablets, and smartphones, so they can more efficiently do their jobs and will improve communication. Practical Uses of Transaction Management Software While understanding the benefits of transaction management software is critical, understanding the practical uses of it for your business is even more imperative. Real estate transaction management software will improve employee morale throughout your business, as employees will appreciate the freedom and ease of access that this program will provide. You will also be able to decrease your company’s overhead because of the increased efficiency that this program provides for your business, and will be able to save your business money and time. Final Thoughts As the real estate industry becomes more complex throughout the 21st century, technologies like real estate transaction management software will prove to be increasingly helpful. Learning about this technology and applying it to your agency will ensure that your business can be successful. Read Also: Five Reasons Your Business Needs Incident Management Software Why Contract Management Software Is Essential for Your Tech Company
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Why Invest in St Kitts Real Estate
The island country launched this program in 1984. The main idea behind the CBI was to attract funds for developing the local economy. There are several investment options that applicants can choose for obtaining citizenship, and investing some money in real estate is among them. Would you like to invest your money in property to generate some income? There are lots of options available for you and not only in your motherland. Today, you can enjoy even more benefits due to special investment programs launched in many countries. One of them is the Federation of Saint Christopher and Nevis, a beautiful island country. The comprehensive info on its program allowing obtaining citizenship by investment (CBI) is available here, and in this article, you will find out the reasons to invest your money in property on this territory. CBI Program: Investing in St Kitts Real Estate: The island country launched this program in 1984. The main idea behind the CBI was to attract funds for developing the local economy. There are several investment options that applicants can choose for obtaining citizenship, and investing some money in real estate is among them. It would be a good choice for businesses looking for favorable taxation conditions and other opportunities as well as for individuals and families who either wish to move to this country or just need to have one more passport. Getting a St Kitts and Nevis Passport: The program allows purchasing property and getting a passport within only 3-6 months. There are two main options you can avail of. One of them is purchasing real estate pre-approved by the government for $400,000 or more. It is also possible to buy shares in a development project equal to the same amount. You must not sell your property for at least 5 years. Another option you can consider is finding a business partner and investing $200,000 each in luxury resorts approved by the government. In this case, you will not be able to sell your property for seven years. Additionally, investors pay some required fees. Why Invest in St Kitts Real Estate: Investing in St Kitts real estate is a profitable business. In 2018, the number of tourists arriving in the country increased by 8.8%. More than one million people come to the island each year. The country has experienced significant growth over the last years thanks to the CBI program. The GDP per capita reached $17,500 in 2018. The economic growth is expected at 3.2% in 2020. Now, the state provides tourists with high-security standards, comfortable travel, and other benefits. The real estate industry in the Federation has been developing rapidly. One of the reasons for that was the coming of the Marriott Hotel in the market. A range of significant construction projects includes Oasis Hotel and Aman Resort. Also, the number of flights to the country has increased. The investment climate of the island is favorable. As for the prices of property, they have dropped compared to the previous year, which did not affect rental income. Moreover, the rental yield has increased to 5.11%. There are no rental income taxes for citizens and companies within the country. Why Should You Obtain St Kitts and Nevis Citizenship? While investing in property to generate some income, you can also enjoy receiving a St Kitts and Nevis passport. The following are the benefits that you will get: You can move to the island without problems in case of an unstable situation in your country; Having a passport of this country allows you to freely travel to over 120 countries, including Great Britain, Singapore, and Brazil; You will be able to take advantage of beneficial taxation. Also, it is an amazing country with a rich culture and beautiful nature. Conclusion: If you have never been to this island, you may have reasonable doubts about investing in the property of this country. However, if you are looking for interesting investment opportunities, you should consider opting for the CBI available on the island. The prices for real estate are quite low now while the rental income keeps growing. Considering the recent boom in the development and the significant interest of the tourist industry’s major players in the local property, it is likely that the prices of real estate will increase. Also, the country has a stable political situation. Therefore, it is a favorable moment to invest your money in real estate on the island. Granted that it can also give you the Federation’s passport and plenty of other benefits, the CBI looks even more attractive. Read Also: 7 Tips To Purchase A Prime Real Estate Property How Do Law Firms Help Companies with Their Real Estate Issues? 5 Best Things an Experienced Real Estate Agent can do DC Metro Area Real Estate Update An Overview on Luxury Real Estate in Paris
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5 Best Things an Experienced Real Estate Agent can do
If you are into real estate where you are trying to buy yourself a nice and suitable place and are unable to do so whom do you approach? A real estate agent is one who possesses knowledge about every real estate property available in his area. For example, if you are looking for a place with a silent environment or if you are looking for a house with a garden view, or if you are looking for a sun-facing property then you can keep your demands in front of him(after hiring a suitable one)and he will surely come up with options which meet your demands. Now a question arises in the mind that why should we take the help of a real estate agent. The answer to the question is very simple. When using an agent's help saves money and time and the struggle of finding the perfect home by yourself. You save all the hustle and bustle and get the perfect option in an instant but when it comes to the real benefits of working with an experienced real estate agent we can sum it all up as follows. Quicker solutions You get options based on previous results. For example, if you are unable to find the perfect house on the first chance then an experienced agent will come up with the perfect house for you which is better than the last one thus saving a lot of your time. Anticipating problems An experienced real estate agent is always known to the place he will show you the property. Thus he knows the pros and cons of the place. For example, if you are looking for a place with certain specific pros like view with the silent environment then your agent will already possess the knowledge of the place like that. Solid reputation If you meet an experienced real estate agent you will come across to the conclusion that he stands a fair and strong reputation among all other agents. He will be respected because he possesses the knowledge and skill to get anyone what type of property they are looking for. Statistics information With an experienced real estate agent you will be able to analyze the place well. He will have knowledge about the area of all types of statistics and crucial market data of other clients. So he will be able to guide you to a place well suitable according to your taste of needs. Professional guidance When you come across an experienced real estate agent you will find that he possesses knowledge about everything. He would k ow the area, the history, and geography of the property. He will be able to tell you and scrutinize for you the best options available according to your taste saving you a lot of effort. So if you are into real estate then always go for the experienced agent who has a good reputation and knowledge. Not only he will help you save time in choosing the right property but also save effort and all the other problems you might face. You can also take help from an expert like Larry Weltman. For over a decade Larry Weltman Toronto has advised the real estate industry on various fronts where he has the expertise and where agents have needs. Read Also: You Need To Know The Pros And Cons Of A New Career In Real Estate 7 Tips To Purchase A Prime Real Estate Property Benefits Of Working With A Realtor When Selling A Property
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How Real Estate Factors into Business Decisions
People tend to think of real estate in a very direct, narrow sense. We factor our rent into our monthly budgets and see property taxes as only a small slice of the larger bill we pay every year. We rarely think about the fact that real estate and housing costs have incredible ripple effects that dictate the success and failure of several industries. Consider the housing bubble in the United States and how it eventually prompted the greatest economic setback since the Great Depression. The woes of the housing market permeated into virtually every other facet of the American economy, and they had a gigantic impact on the lives of so many people who felt the pinch in ways that seemingly had little to do with housing. For business owners, real estate is a much bigger piece of the economic pie than they might initially assume. Though there is little we can do to influence the policies of banks who give out loans or the real estate prices in our markets, we can look at how real estate factors into our bottom lines. Factoring Real Estate Costs into Your Budget The first consideration you should make is how property costs will directly impact your budget. A business owner might decide that they are best served to own the property they’re using, or they might find that perhaps their interests are best met by a rental space. Whatever solution you’ve decided is best for your business, don’t forget to factor in the costs of property tax, insurance requirements or legal expenses that you might encounter and how those costs could add to your initial estimates. Remember that buying a property, especially if you’re building or renovating a commercial space, comes with many costs. You will carry the responsibility for repairs and maintenance, for example. You’ll need to determine whether your business can sustain these costs, and you’ll need to leave room in your budget for unforeseen circumstances. Your Location Will Also Affect Employees If you are poised to hire workers, you will also need to consider how your real estate choices might impact them. If you are relocating, will you be able to offer your employees compensation for relocating with you? If you are hiring new employees, will they have to travel to reach your business? The size of your workforce will also dictate the size of your workplace. Remember that if your business will be adding more employees in the near future, you will need to accommodate those workers. Using Real Estate as a Barometer If you’re starting, expanding or relocating a business, you might be able to determine what location is most advantageous by looking at real estate prices in your new location. There are many things to consider. Is the area you’re looking at booming, or is it stagnant? If an area is showing signs of growth, can you afford the costs of a property in a competitive real estate market? How much does your business really depend on being located in a prime area of your community? Being Realistic in Your Expectations Just like any other decision you’ll be making as a business owner, you’ll need a healthy dose of realism when you are factoring in how real estate will impact your bottom line. Is it reasonable to buy a big, plush location in the most booming part of a city, or is your business model best served by renting a space and keeping costs down until you know how much income you will be generating? In the beginning stages in the life of a business, it is best to cut any expenses that are not absolutely essential to the operation of your company. Find out how many expenses you’ll be facing that you might not currently be factored into the equation, and look at all of your options before making a decision. Real estate impacts our lives in many ways, some of which might be out of our control. But so many of the decisions that business owners make can be based on predictable costs that we might fail to overlook in the excitement of beginning or expanding a business. Be cautious, realistic and thorough when determining the role property will play in your operations. Rebekah Damen Lusk a partner at the Maryland law firm Thienel & Lusk, LLC Attorneys at Law. Her practice includes civil litigation, business, employment, landlord/tenant, real estate, family, equine and animal law. Read More: DC Metro Area Real Estate Update What Makes A Strong Foundation For Your Home Buying Your First Home In St. Louis Why You Must Embrace Green Home Technologies?
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