Investing In Orlando Land The Process Of Conveyance With Fsbo Properties Finding Letting Agents In Plymouth Lake Tahoe Real Estate Investments How To Start Your Overseas Real Estate Portfolio
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.
If you have chosen to sell your home yourself, or purchase a home via FSBO, then conveyance is a process that you might want to educate yourself on. Conveyance is the actual process whereby a home is transferred from the old owner to the new owner. By the process of conveyance, the buyer of the home will eventually, after the contracts are complete; have clear and authentic title to the property in question. This is a process that under normal circumstances is seen to by the involved realtors and a number of attorneys and other legal professionals, including the mortgage lender.
While the actual act of conveyance has different elements depending on the State that the property is in, the basics of the process is much the same. At this time it is usually the representatives of both the buyer, seller and mortgage company that meet to exchange the deeds to the property. Of course, in a FSBO situation, this could very well be done by the actual buyer and seller. However, the deeds to the property are only the beginning of the documentation that must be dealt with during the conveyance. Other critical matters such as title insurance, promissory notes, pro rata property taxes and any other legal or financial documents concerning the sale of the home must be dealt with by the appropriate parties.
With an FSBO sale, its a good idea to get some help in these matters if you have never dealt with them before as they have a definite bearing on the outcome of the sale. A lot of the time, the mortgage company can offer you assistance or refer you to people who can assist with the paperwork. This is especially true if you are working with a mortgage company that specializes in FSBO funding. The legal implications of errors in this process are worth the time and effort needed to ensure that every step of the process is seen to with exacting detail.
A little bit about Plymouth
Plymouth is situated in the South West Corner of England in the County of Devon, undoubtedly one of the most beautiful counties in England. Plymouth is steeped in history with the main focal point on the harbour where the Pilgrim Fathers set sail, Darwin and Cook. Plymouth has obviously moved on since those days but still keeps its heritage while moving into the 21st Century.
Plymouth is a large City with the Plymouth City Council area housing a population of 240,718. Of course like all large Cities there are all the expected facilities and good rail, road and air links to other parts of the UK. Below are some links that may give some more information on Demographics, facilities available and places to see in Plymouth and the surrounding areas.
Some useful links:-
Plymouth City Council
UpMyStreet for Plymouth
Looking for your Rental Property
When starting to think about a rental home, whether it is a long term rental or a short term rental it can seem quite a large task. The key to making your move as painless as possible is organisation. In this article are some tips on how to handle the process and make the move a little less of a headache.
Use the Four Stage Rule
When looking for your rental property there is an easy to remember 4 stage process, these stages are:-
Do your Property Research
Ensure that you are fully prepared before even considering starting your search. It is vital that you are aware of your restrictions within the market place. Make sure you are aware of what type of property you can afford to rent. Which areas of the City are suitable for you and match your requirements.
The best start is simply sit down and make a list of what is important to you. This needs to include two different sections. The first section is within the property for example you may only want to rent a flat, or maybe a house with a garage, you may require three bedrooms, a garden, large kitchen, central heating, electric shower, two bathrooms. Make a note in order of importance your top 10 requirements.
The second section needs to be area requirements, for example, maybe you need to be close to the train station, near the town centre, on a bus route, close to the motorway, near to the shopping development, a quiet area. Or maybe you have specific locations that you want to live within the City.
Secondly is setting your budget. It is vital that you know exactly how much you have per month or per week to be able to afford your rental property. Sit down and make a note of all of your outgoings including household amenities such as gas, water, electricity. Make a provision for council tax, petrol, loans, credit cards, car loan and all other outgoings. From this you can decide on how much per month you are able to afford on your rental property. It is highly important that you stick to this budget or below in order to ensure that there are no complications with your rent payment to the letting agent in the long term.
That is the worst bit out the way, now you can begin on stage two of the four step process.
Start your Property Search
There are a number of methods to achieve the desired result; this could include visiting all the letting agents in the town (very time consuming). Maybe complete a search of all the websites on the internet one by one (again very time consuming).
Alternatively you could try using one of online property portal sites, depending which you chose it is possible to send multiple emails to the letting agents expressing your requirements (let them do the hard work in contacting you with property) or maybe do a search on the site of listed property and contact them to arrange to have more details on specific ones advertised or arrange a viewing. Or simply gain quick and simple access to multiple letting agent websites from just one place.
A good site to start is Rentright this offers all of the above and much more, why not visit the Rentright Plymouth Page now and see what property is being advertised by the registered letting agents or contact all the agents with your details.
There are many other sites on the internet designed to make your search much easier, not all are dedicated to rental property and if you cannot find what you are looking for on one you may on another.
Arrange to View your Chosen Rental Home
Once you have made contact with the letting agent then arrange the viewing of the property. It is important that you remember your criteria that you set earlier. Take an impartial person with you on the visit as they may be able to give you some guidance and opinion on what they think of the property. Revisit the area on different times to view the rental property in order that you get a good feel of the location. Don’t make a hasty decision there and then, think about it for a while and ensure you are completely happy to go ahead. Once you have given the letting agent the retaining deposit if you change your mind then this will be lost.
Make your Move
Once you have chosen your rental property then on move in day remember that you will need normally but not in all instants, 1 months’ rent and 1 months retaining deposit for long term rents. Then you will sign the short hold tenancy agreement and be given the keys to your new rental property. If the house is furnished then there maybe an inventory make sure that this is correct, also if you see any damage that you had not spotted previously then be sure to make the letting agent aware of this as soon as possible.
The letting agent is there to help you so if there are any problems with the property then make sure to seek advice from them; if it is a fully managed letting service. If it is a tenant find only then be sure to make contact with the landlord (who of which you would have met previously) if there are any problems.
Some Letting Agents in Plymouth that may be of Interest
Just Lets, Trundlewood Property Management, Bullard & Scholes Residential Lettings
A Good Mix of Fun & Financial Benefits
By Theresa Souers, president South Tahoe Association of Realtors
Lake Tahoe: A Unique Location
Lake Tahoe is perfectly situated just a few hours drive from the sophistication of San Francisco and just over the mountains from the sparkle of Reno, Nevada. Nestled in amongst spectacular mountains with breathtaking panoramic views and crystal clear fresh water lakes, the Lake Tahoe area is rich in both natural beauty and solid investment opportunities.
Over two million visitors a year come to Lake Tahoe to enjoy snow and sun alike. During the ski season people from all over the world, flock to the slopes for some of the best skiing in the United States. First class resorts such as Heavenly, Squaw, and Kirkwood are a popular draw for the recreation minded. And, the hot tourist market doesn’t cool down when the snow melts. Summer brings a whole different crowd
Real estate is a tried and tested asset class and the majority of people agree that as a long term investment commodity there is nothing really to beat it for consistently returning strong growth and increasing yields…however, when a country’s housing market goes temporarily cold as real estate prices move outside of the affordability gap, real estate investors often look overseas for the development of their property based portfolio.
Currently the real estate markets in countries such as the UK and US are slow and the ability to profit from property locally is reduced – therefore more people than ever are thinking about moving their focus abroad and starting an overseas real estate portfolio to enable them to build a passive income for life.
If you would like to learn more about building a passive income for life from investing in overseas real estate here are the main five considerations to bear in mind to maximize profit, reduce risk, increase yields and capitalize on opportunities as they present themselves – but before we begin it is always prudent to mention that the value of any investment can always go down as well as up, and that investment decisions should be taken carefully and be made with the assistance of qualified and experienced advisors.
Tip One – Real estate markets around the world emerge, boom, go bust and re-emerge all over again, but they do so at very different points in time as each market is heavily dependent on the current state of the economy in the given country. As we all know economies ebb and flow like the tide and there is no such thing as a guaranteed market where property prices will keep rising. However, there are countries in the world going through major economic change where the real estate market is emerging and where the long term forecast is for a period of prolonged growth. An investor who is not risk averse and who is planning an overseas real estate portfolio should try and identify which countries have a strengthening economy and an emerging real estate market.
Tip Two – Having found an emerging market an investor needs to determine the key factor that makes an investment into real estate in the given country a good decision. I.e., if a country’s property market is simply booming because of hype and an investor can see nothing to support the long term success of the market then they should walk away. If an investor can see massive room for growth but an interfering government who may attempt to restrict property investors from taking their profits then an investor has to decide whether or not they can still make enough profit from real estate to make any investment worthwhile.
Tip Three – Having determined that there is potential within a given market an investor needs to learn how to harness the power of other people’s money! As real estate is an expensive and slow to liquidise commodity it is unwise to pay cash from personal funds for an investment property, rather it’s wise to raise finance at a low interest rate from a secure financial institution. An investor should look into whether an international mortgage or a local mortgage is possible and affordable when buying overseas real estate.
Tip Four – As previously stated, over the long term real estate is considered by many to be one of the most consistently returning asset classes – the key to this consistent success is however the ‘long term’ bit! I.e., when buying real estate abroad for capital growth and rental yield it pays to be able to keep that real estate for ten years or more to ensure the greatest reward is derived from the investment.
Tip Five – And finally, having determined that the key factors exist to suggest that a property market has legs to run and that any hype surrounding its progress is based on fundamentally accurate facts as detailed in Tip Two, an investor need to ensure they buy real estate that will suit the market demand that is making the real estate market successful! Therefore if the baby boomers are driving a given market consider buying single level properties in secure communities, if on the other hand the young professionals are driving the market think about purchasing well located, designed and facilitated apartments..
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