Going Green In Your Home How To Sell Your House Fast And Raise Cash Investing In Orlando Land More Return On Equity For Your Investment Property Dollar
Canadian builders going green, read the headline, and it got me thinking about the cost of not just building ‘green’, but of converting to green in our existing homes. Being able to list your house as a ‘green’ home must still be a novelty these days. One reason is that it can be expensive to switch to green, but there are reasonable contributions that the average family can easily make toward green living.
Of course, people go green for different reasons; for some of them it is just a common sense solution to allergies suffered in the family. But why do other people choose to put themselves through this hassle. It is not money, we know that much; going green usually costs more, not less.
Many people seem to object to the idea that their home contains more chemicals than homes used to. What is more, we are paying for that privilege! It is strange to think that Vinyl linoleum gives off toxic gasses, but it is a fact. True linoleum does not, although it can be more difficult to find. (It is often a fact that the newer replacement product also brought with it toxicity.)
Another way of helping the environment is to follow your municipalities outline for re-cycling. Private re-cycle depots in your area will often pick up where the government leaves off. The trick is to get it organized at the home base with different containers that are easily accessed.
When you decorate the home, if you want to think green, use paint that has either no, or low, VOC (Volatile Organic Compounds). Also if you plan on re-sealing sealing wood doors or floors etc, latex has no pollution factor to worry about.
If you decide to remodel, you will find many appliances on the market that will help you to go green. Most appliance companies now offer at least one green choice. Both washing machines and dish washers offer cycles which operate with less water. There are also toilets with the same feature, and all of these options will give you cheaper bills to pay, both on hydro and on water consumption.
If your remodeling or green choices are extending into your kitchen then when choosing a new stove or other kitchen appliance, look for the Energy Star rating. Many of these appliances are designed with a healthy environment in mind, and the stainless steel look of them will bring your kitchen up to the minute!
Switching into a green frame of mind can sometimes have a gradual escalation. Soon you may find yourself buying environment friendly soap powders and cleaners and then you can feel even more virtuous!
You may be faced with the case where you have to sell your home hastily. The situation may be due to bankruptcy or an awaiting foreclosure. So, how do you make sure that you get the best deal and the top price at such times? Haste does make waste, but it need not necessarily be so under such circumstances with a little prudence and care. You can consider the following points.
BE PREPARED: You must be mentally prepared to sell your property. This will not be basic especially if you have been living in it for number of years. But it is a very fundamental step if you want to get the best advantage out of your sale.
INSPECTION TIME: Get the home inspected by a professional as soon as possible, so that any major defects can be discovered, before they cause any problems with possible Buyers. This will help to avoid last minute glitches in the deal.
POLISH UP: Look at your house from an objective standpoint and remove any flaws as soon as possible. Survey other people’s opinions on the matter if possible. Everyone must be consulted. By getting an open view of the flaws, you will be better prepared while deciding on the sale price of the home.
SPRUCE UP: A clean house will help you sell it even better. Bringing in a professional company to clean the house will be a very effective step in clinching the sale early. Do declutter the property, before showing it to potential Customers. The less cluttered your home appears, the bigger it will appear. Do clean out and organize your closets, especially as closets can be a big seller. The larger your closets appear, the better your chances of selling the house will be. Do give the property a fresh coat of paint. A light decor will be more appealing to the buyer, as it will help them see their own belongings in your home. And this will help you to sell the home more quickly.
MAKE YOURSELF INCONSPICUOUS: Depersonalise your property as soon as possible, before showing it to potential Customers. Your aim is to get the Customers to feel themselves in the property. If it is full of your personal articles and family pictures, it is not going to create much of an impact on the would-be buyer. Consumers must be able to see themselves in the home, which is nearly impossible if everywhere they turn they stare at you! If you have a lot of pictures in your home, you may want to store some of them. The fewer pictures of you and your family, the quicker the sale.
PRICE IT RIGHT: The price is the most deciding factor while selling a property quickly. To sell your home fast you have to find a price that is attractive to Shoppers. If you price it wrong, it is not going to sell at all. You can absolutely avail the services of a home agent who will help you arrange the right price for your home. Remember, that as the home owner, you will not be able to fix the correct price from an objective standpoint, Do take region trends into account and if you have employed a house agent, follow his advice and set the right price. The best way to find out the region trend is to look for comparable houses in your neighbourhood that sold fast. Find out how much they sold for and compare your price to the prices the other houses went for. If the price you have fixed is above those prices, you need to do some serious rethinking
SET LIMITS: You must have a fixed program in mind on your sales plan for the property. After fixing the sale price, you must set up your limits of flexibility. Define your initial asking price. Decide the time you will need before making a reduction? Set up the amount of cut you will accept in the price. Having a plan in place will help you react quickly and help to move the sale of your house just as fast.
By following these points you are surely on the right path to selling your property quickly and getting the right price for it. So you need not fear that disclosure or bankruptcy, as you have the best price for your home.
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.
Few would deny that real estate is a solid investment. It provides an attractive combination of stability, reliable cash flow, preservation of principal and capital appreciation. However, many investment property owners nearing retirement find themselves in a quandary. They are equity rich, but cash poor, with increases in the value of their property far outpacing income growth. They also are often tied down by the day-to-day issues of property management and, particularly in cities like San Francisco, California, shackled to the constraints of rent (and eviction) control. In fact, San Francisco is home to some of the lowest cash return on equity in the state’s real estate marketplace, which is somewhat counter-intuitive given California’s ever-booming property market.
The obvious answer is to sell the property and unleash the dormant equity, but that can be problematic. These investors face the reality of prohibitive capital gains taxes and recaptured depreciation, as well as the task of identifying an alternate investment venue; or locating, acquiring and financing suitable replacement property in the time period allowed, taking advantage of tax deferral under IRS code section 1031.
An ideal solution for many investment property owners may be to reinvest the proceeds from the sale of their property and utilize a subsequent 1031 exchange into a tenancy-in-common (TIC) ownership type, also known as co-ownership of real estate (CORE) interest in a suitable replacement property.
1031 exchanges, also known as Starker exchanges or tax-deferred exchanges, permit owners to sell investment property and defer tax payments by reinvesting the proceeds into another investment property (or investment properties). In order to completely defer the payment of tax, among other things, the replacement property must be of equal or greater value and all the equity from the sold property must be reinvested in the new property. The marriage of 1031 exchange and TIC/CORE allows investors not only to defer their capital gains taxes but also to upgrade their investment real estate.
TIC/CORE is a way of sharing ownership of property among two or more persons whereby each tenant holds an undivided interest in the property. Tenants-in-common may own interests of differing sizes. TIC/CORE investors are on the title and considered separate owners of the real estate. They share pro rata in the income, tax benefits and appreciation of the property. Their TIC/CORE interest can be purchased, sold, gifted, bequeathed by will or inherited; and it is subject to property taxes, gift tax, and estate and inheritance taxes in the same manner as any property held in sole ownership. With a TIC/CORE property, each of up to thirty-five investors have the opportunity to own an undivided fractional ownership interest in an investment-grade property, such as an office building, shopping mall, apartment complex or industrial property, costing anywhere from $10 million to $150-plus million.
The benefits of investing in TIC/CORE properties are substantial. Such properties employ professional asset and property management, relieving the investor of day-to-day tenant headaches. More important, investors often receive greater cash flow and overall returns than they had in their previous sole ownership property. Typically, many people receive between 2-3 percent of their equity in their property in rental income. By selling this property and placing the equity into a larger investment-grade property, they can potentially experience annualized cash flow from 6-8 percent, paid monthly, and 12-16 percent overall return on their investment. Also compelling is that TIC/CORE exchange investors can diversify among several property types, and geographic locations through fractionalized ownership, while still enjoying 1031 exchange benefits on each amount. Thus, investors can potentially reduce risk in their overall real estate portfolio.
Investors seeking to exchange for a TIC/CORE property are best advised to work with a financial advisor experienced in 1031 exchanges. Such advisors work closely with top real estate providers, who give the investor access to the best properties available. In addition, many TIC/CORE opportunities have pre-arranged, non-recourse financing in place, which is perfect for investors working within the 1031 exchange time frame. Numerous hours of upfront investigation, evaluation, due diligence and life cycle planning transpires before a property is offered to an investor group. Investors faced with only a 45-day window to identify a suitable replacement property to complete a 1031 exchange can select a suitable project with confidence.
Given the tax deferral, institutional-grade quality of the property, professional property management and pre-arranged, non-recourse financing aspects, a 1031 exchange replacement property structured as tenancy-in-common ownership can be a very wise and profitable solution. It allows the investor to maintain everything they like about real estate (monthly income, preservation of principal, capital appreciation, etc.), while eliminating most of the hassles of property ownership.
(c) 2005, 1031 Exchange Options. Reprint rights granted so long as the article and by-line are reprinted intact and all links made live. This article is neither an offer to sell nor an offer to buy real estate or securities. There are material risks associated with the ownership of real estate. You must be an accredited investor. Securities offered through Sigma Financial Corporation, Member NASD/SIPC..
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