Real Estate Articles

 

When Is The Right Time To Buy Commercial Real Estate? added 10-1-2018

You want information about commercial real estate and you would like to have it in an easy to understand format. If this is the case, this article will be perfect for you. We will lay out some of the most important tips and guidelines in a way that you can quickly digest.

Purchase contracts vary in many different ways and can really be misleading to the untrained person trying to work their way through them. A real estate agent will help you maneuver through this part of the process so you will not end up finding out any loopholes that you may have missed down the road.

In order to secure the very best available terms for escrow on a real estate deal, the escrow arrangements should be reviewed by a professional with experience in the field. A real estate agent, financier or investment professional can examine the paperwork in detail, and let a buyer or a seller know if they are being taken advantage of.

If you are a landlord looking to rent out a house or apartment, it is crucial that you have the tenant fill out an application and go through a credit and background check. You do not want to be stuck with a tenant who won’t pay rent or trash your house, so also ask for references.

It is important to find a bank that is willing to work with you when purchasing commercial real estate. Commercial real estate is viewed and valued by financial institutions in a different way than a residential real estate. Expect to come up with a higher down payment as well, about 30 percent and sometimes even more.

In conclusion, we have provided you with some of the most crucial aspects regarding commercial real estate. We hope that you not only were able to learn something but also will be able to apply it. Follow our advice and you will be one step closer to being an expert in this subject.

Lower Keys Real Estate Articles

What You Need To Know About Prefabricated Houses For Sale

In the past, they were called trailers or mobile homes, but these days they are called prefabricated or modular homes.  This kind of house is made in a factory in sections or modules.  They then get assembled on a lot wherever the customers want to have it built.  Compared to traditional homes, prefabricated houses for sale are a lot less expensive.  Also, unlike the ones from the past, many of the current houses are now designed to look like standard homes on the outside.  Although they are made in sections, these homes are a solid structure and can last for many years.  Since the beginning of the 21st century, they have become quite popular.  And they are likely to grow in popularity over the next few decades.

When these homes are built, many are constructed utilizing an assembly line method that uses a set of basic blueprints.  Usually, one module is comprised of one room.  It gets assembled right on the floor of the manufacturing plant.  Once they have been assembled, the modules are transported to the building site.  Heavy equipment like a crane is used for putting the modules in place. After the modules have all been put into place, a crew uses screws and glues for sealing the joints to join all of the modules together.  Putting in the wiring and plumbing are the two final touches.  The final thing is adding any molding, painting or wallpaper.

Some advantages to selecting a prefabricated home include the following:

– Lower construction cost: normally the modules are mass-produced so therefore homeowners are able to choose the home design that they want.  After their order is placed, the sections get lined up on the lot and then connected together.  When this process is used by the manufacturer, it can save a lot in the cost of labor and materials.  That is due to the fact that manufacturers are able to use building supplies efficiently.

– The short amount of time needed to build a prefabricated home – from the time you place your order to the time it is a fully built home, it is possible it can be completely functional within as few as just three months.  A standard home usually takes six to twelve months to build.

– Strength: it is claimed by some manufacturers that these kinds of houses are even stronger than houses built using traditional construction methods.  Usually, the reason why is due to the fact that screws are used to connect them instead of nails.  Also, these screws are augmented with industrial strength glues.

– Less expensive than a traditional house – you can purchase a brand new prefabricated home for less than fifty thousand dollars.

There is one major disadvantage to purchasing a prefabricated house which is there isn’t any basement.  Therefore, there isn’t really any place to hide during a tornado except perhaps the bathroom.

Tips for Commercial Real Estate Success

Getting ahead in the commercial real estate sector is possible and alluring. Yet, you need discipline and good ideas in order to accomplish this. The discipline you must find on your own, but some good ideas are yours now if you keep reading the following paragraphs!

Do not think of real commercial property business like a game of Monopoly. In the board game, it can prove handy to accumulate as much property as you can and collect the multiple rents. However, in real life, you want to invest in property instead of accumulating it. Choose your properties wisely and support them.

In the beginning, try to only focus on a singular style of investment. Favor retail possibilities, or maybe residential apartments. Learn the ins and outs of a particular niche so that you can use your experience and knowledge to master better deals going forward.

Consider environmental factors at all times. Always have a potential buying opportunity thoroughly checked out, and more than just the building. If there is potential environmental damage or contamination from a previous owner or tenant, you could be liable for the cleanup costs as the current owner. Also consider what environmental risks come with a location, like flooding or fire hazards.

Keep your ears open when dealing with others involved in commercial property. Of course, seek out mentors and good advice, but also listen for complaints and regrets. Anytime you can learn from the errors of others without committing the mistakes yourself, you can speed up your own learning curve considerably.

Think about the projected lifespan of any property that you look at. It might look fine now, but how long can the building be reasonably expected to stand? If it is going to start falling down in five years, you might not want to go in with a twenty-year plan or sign a ten-year lease.

Remember location, location, location. You might find cheap properties in low population areas, but that is because there is no one around. It might be fine for a server farm or warehouse, but if your plans are dependent on foot traffic, you need to spend some time parked by the nearest intersection counting the frequency of cars passing by.

These ideas are only the tip of the iceberg when it comes to dealing with commercial real estate matters. Learn all you can before starting, and keep learning to keep up with industry changes.

Modular Home Advantages

There are a number of modular home advantages. And, these are why so many people choose to buy a modular home over a “traditional” single-family house. If you’re considering building your next home or just want to know more about modular housing and what it is, then you’ve found the right place. So, read on to see the benefits of modular homes.

Modular Home Advantages

First, let’s take a quick look at what a modular home is and isn’t. It’s important to note that a modular home is not a manufactured home. (Although modular homes are manufactured in a highly sophisticated plant.) Basically, a modular home is a house that’s pre-built-in sections. It’s then transported to a plot of land and erected on a foundation.

So, it’s a lot more like a new construction or custom built house than anything else. But, it boasts some wonderful benefits. Here are the top modular home advantages you should know about:

Design flexibility. With a modular home, you are given more control over the floor plan, flow, and function. Plus, the aesthetics, which means the style of the house.

Faster construction time. Since modular homes are constructed in sections in a plant, they are constructed on-site in less time than other housing types.

Adhere to the most stringent building codes. Another advantage is that modular homes are built to the most up-to-date codes. And, even better, modular homes are also known as highly energy efficient. Typically, modular homes are built with the latest technologies and materials. So, they perform better at conserving and using

For more information see www.bestkeysmodulars.com

Advantages of Owning Key West Commercial Real Estate added 5-4

Key West commercial real estate is one the best investments one could ever make. It’s here, at the southernmost point of the United States where tourism and local commerce thrives. Because of its location, it’s one great place to live, work, and play. But, since it is home to so many positive dynamics, it offers a somewhat unique investment opportunity. Not just in the way of residential property, but also, commercial real estate. So, let’s take a look at the benefits of owning Key West commercial real estate.

Advantages of Owning Key West Commercial Real Estate

Commercial real estate presents itself in a number of forms. It might be a strip mall, a medical building, a multifamily site, or mixed use. Regardless of its designation, the commercial real estate offers a few great benefits. Here’s what you need to know about the advantages of owning Key West commercial real estate:

Multiple income streams. This not only includes rents or leases, but also, maintenance, and more. If you’re not familiar with a Triple Net lease or NNN lease, take some time to learn about it. Basically, it’s a way for commercial property owners to share the cost of owning and maintaining sites with their tenants. That means you can bring in more than just monthly lease rental payments.

Location. You’ve no doubt heard the old adage that real estate is all about, “location, location, location.” And, this might well be cliche, but it’s entirely true. Key West offers some of the most highly desirable destinations. That means being right in a high traffic area. So, commercial real estate remains in big demand, a big advantage to commercial property owners.

Vested tenants. When you own a commercial site, you’ll obviously rent out space to tenants. But, unlike residential arrangements, commercial tenants are entirely different. After all, they must put forth and maintain a positive image. So, they have a vested interest in keeping the property up.

Limited operating hours. If you’ve ever invested (or even lived) in residential rental property, you know tenants can bug you at any time over petty issues. That’s not really an issue with commercial real estate because you have the benefit of set “office hours.”

Equity gain. Of course, one of the biggest draws of Key West is its beauty and wonderful weather. These factors heavily into real estate, which goes for commercial sites, as well.

Tips On How To Invest In Real Estate added 4/6/2018

Have you thought about real estate but didn’t know where to begin? Maybe you have watched shows about flipping houses and selling houses. Continue to read for solid tips!

Do proper research on the market prior to making a real estate investment. Look at multiple properties in the area you choose and keep a spreadsheet full of notes. Things to look at include repair budgets, projected rent earnings, and repair budgets. This will allow you to weed out the bad apples.

Your reputation is essential to the success of utmost importance when you venture into real estate investments. This can build up your credibility around town by building a base of loyal to you.

Do not forget about other costs that come with buying a property. You have closing costs, closing costs, and staging costs, and more that may affect the bottom line. Consider these costs when determining your margin.

Do not make the assumption that property values will go up in value. This assumption is risky in the real estate market and for any one piece of money. Your best bet is to only invest in properties that give you a nearly immediate positive cash flow. Property value increases will then add to your income.

This is going to give you invaluable information that you can use and implement into your own. You may even get a chance to talk individually with this person.

Properties near businesses or water can earn you a lot of money.

Don’t spend your money in real estate without researching the field first. Errors in investing can be extremely costly.

Take the neighborhood before investing. A good neighborhood will maintain value, while an area that is depressed is not likely to give you a good return. Location is always the key determinant for a property’s value.

In some cities, it is illegal to do any kind of digging and you also don’t want to damage the property.

Think about employing a professional property manager. The company screens renters and handle any repair costs. This leaves you with more time to concentrate on searching for other investment properties.

Solid investments in real estate will make your financial situation feel more secure. You are in complete control of the properties you want to purchase, and that makes you a central figure in the entire process. It’s time for you to use these tips to get yourself started out as a real estate investor.

Need an Office – Why you should Lease a Serviced One added 3-2-2018

“When you start a business, you’ll find there are many things to take care of prior to opening your office doors. Here are some good reasons why choosing a serviced office is a sound business decision:
● Serviced offices come well-equipped. In most cases, you’ll find everything you’ll need in furnishings in a serviced office. These generally include desks, chairs, tables, file cabinets, and even stationary. Some serviced offices also provide telephones.

● Utilities are generally included. In a typical office lease, you’ll have to schedule the hook-up of utilities, for electricity, water, trash, and internet. Serviced offices generally include utilities in the cost of the lease. This means you won’t have to keep track of utility bills and will enjoy the convenience of having less to do.

● Better facilities. When you lease an office, there’s often no guarantee you’ll have the budget to get one that’s fully equipped with things like a conference room or a reception area. Serviced offices generally provide these and the costs are also rolled into the lease. In addition, you’ll have ample parking and even refreshments for clients.

● More convenient services. In a typical office lease scenario, you’ll have to hire your own cleaning service, but not in a serviced office. Not only will your office be cleaned, you’ll also have the benefit of having other services, such as mail and courier services.

Starting a business means having to pay for a lot of out-of-pocket expenses and doing so on a tight budget. Not only does this stretch your wallet thin, you’ll also have the task of getting all the furniture, equipment, and utilities. However, a serviced office provides most of these with your lease and lets you get to the business of doing business

Types of Commercial Real Estate Loans added 2-5-2018

Commercial real estate is a long-term investment venture, and, over the life of a building, there will be a need for funds to address repairs and finance new amenities and features. Some improvements are vital to the safety of a building while others are intended to make it more attractive to tenants. These things don’t often come cheap and it’s normal to use debt instruments to fund these situations.

Because of the many needs of commercial real estate properties, banks and private lenders have created a number of loan products that are specifically tailored to such needs. While commercial mortgages are among the most known, these are just one of several on which investors rely. Of the most common are real estate purchase loans, which work much like a residential mortgage and the property itself is used to collateralize the loan. The amount is determined by the loan-to-value ratio.

Types of Commercial Real Estate Loans

When you purchase a commercial property, you are making a calculated decision based on what you know about the property itself, the local market, and possible scenarios. Over time, you’ll need to make repairs and improvements, either because of what they offer or because of new codes. Here are the most common types of commercial real estate loans:

● Bridge loans. These are used when you have an immediate need for funds but do not have the capital for said expense. Bridge loans are primarily offered by private lenders and are typically a short-term loan, generally, less than a year, obtained while waiting for long-term financing to be approved. To qualify for a bridge loan, the applicant must have impeccable credit, as well as substantial income and assets.
● Hard money loans. These types of loans place the property in need of repair or improvement as collateral to the lender. Because hard money loans are offered by private lenders, not subject to the same lending standards, and constitute a higher risk, these debt instruments carry high-interest rates. Hard money loans are also a short-term financing option.
● Participating mortgages. These loans are made to commercial property owners in exchange for profits generated by the building. Participating mortgages require a monthly principal and interest payment, along with a share of rental proceeds.
● Joint venture loans. As the name implies, joint venture loans require partners to act together in order to obtain financing because no one party can qualify on his or her own. These types of loans are generally offered by investment groups and private lenders.

Before choosing any loan, look into all options and become educated about each one to learn which is most appropriate and feasible.

Factors Which ATTRACT Potential Home Buyers added 1-7-2018

There are factors which attract potential home buyers. Savvy sellers should learn and understand what these include to maximize return on investment and facilitate a quicker sale. It’s important to understand there’s no need to go all-out or overboard, just a few simple changes make a huge difference.

Factors Which ATTRACT Potential Home Buyers

The factors which attract potential buyers won’t come as a huge surprise. These are features and items which you would most want if you were buying a home. Here are the top factors which attract potential home buyers sellers should know about:

● An updated kitchen. There’s no need to completely gut your kitchen and commit to a total remodel. Instead, focus on small updates. Paint the cabinets for a refreshed look. Change the hardware, such as hinges, pulls, and the faucet for the biggest impact.
● Newer appliances. Make no mistake about it, appliances are a really big deal. You don’t have to buy new, out of the box, the scratch and dent or floor models will do just fine.
● Updated bathrooms. Just like the kitchen, there’s really no need to go all-in with a complete remodel. Apply the same principles by changing out the hardware, new towels, a new rug, clean up or replace the shower curtain or doors. Here again, small changes make a substantial difference.
● Good landscaping. Curb appeal is very important. So important, it’s statistically known buyers form an impression of a home within the first 7 to 10 seconds of seeing it upon arrival. That’s not much time but enough to turn an otherwise interest buyer into one who hesitates to go inside. Fresh mulch, some colorful plants, and a good exterior cleaning will do the trick.
● Plenty of storage space. Okay, you can’t add storage space but you can make what’s available look bigger. Simply reduce the contents down to about a third and the results will astonish.
● Outdoor living space. A quick power or pressure washing of that dirty outdoor furniture and some TLC in the backyard will work wonders.
● Energy efficiency. If you’ve replaced the windows, weatherstripping, doors, or installed new insulation, that needs to be brought to every potential buyer’s attention. Be sure to have the documentation ready to demonstrate what’s been done.
● A pre-listing inspection. Before you actually place the house on the local multiple listing services, have a pre-listing home inspection conducted. It’s a great marketing tool.

In addition to these, homebuyers love other features, such as smart home devices and a security system.

Investing In Commercial Real Estate

You need to have some knowledge of the kind of commercial property investment you are looking for if you are considering a commercial real estate investment. You can lose a great deal of money if you make an ill-advised choice in commercial real estate property. Read this article to learn how to make better commercial real estate investment decisions. The best thing you can do is to hire a Professional Commercial Real Estate Broker.

Commercial property dealings are exponentially more complex and time intensive than buying a home. You should understand that although this is a huge undertaking, you have to be diligent in order to get a profit.

You will probably have to put a lot of effort into your new investment at first. It will take time to find an opportunity that is profitable, and after purchasing a property, you may have to wait for repairs and remodeling before you can start monetizing your investment. Don’t throw in the towel due to the process is taking too long to complete. The rewards will be much greater at a later time.

When choosing brokers with whom to work, make sure you know if they are experienced within the commercial real estate market. Make sure you know that they have their own expertise in the area you plan on selling and buying. You Types of Commercial Real Estate Loans GARY SMITH

Commercial real estate is a long-term investment venture, and, over the life of a building, there will be a need for funds to address repairs and finance new amenities and features. Some improvements are vital to the safety of a building while others are intended to make it more attractive to tenants. These things don’t often come cheap and it’s normal to use debt instruments to fund these situations.

Because of the many needs of commercial real estate properties, banks and private lenders have created a number of loan products that are specifically tailored to such needs. While commercial mortgages are among the most known, these are just one of several on which investors rely. Of the most common are real estate purchase loans, which work much like a residential mortgage and the property itself is used to collateralize the loan. The amount is determined by the loan-to-value ratio.

Types of Commercial Real Estate Loans

When you purchase a commercial property, you are making a calculated decision based on what you know about the property itself, the local market, and possible scenarios. Over time, you’ll need to make repairs and improvements, either because of what they offer or because of new codes. Here are the most common types of commercial real estate loans:

● Bridge loans. These are used when you have an immediate need for funds but do not have the capital for said expense. Bridge loans are primarily offered by private lenders and are typically a short-term loan, generally, less than a year, obtained while waiting for long-term financing to be approved. To qualify for a bridge loan, the applicant must have impeccable credit, as well as substantial income and assets.
● Hard money loans. These types of loans place the property in need of repair or improvement as collateral to the lender. Because hard money loans are offered by private lenders, not subject to the same lending standards, and constitute a higher risk, these debt instruments carry high-interest rates. Hard money loans are also a short-term financing option.
● Participating mortgages. These loans are made to commercial property owners in exchange for profits generated by the building. Participating mortgages require a monthly principal and interest payment, along with a share of rental proceeds.
● Joint venture loans. As the name implies, joint venture loans require partners to act together in order to obtain financing because no one party can qualify on his or her own. These types of loans are generally offered by investment groups and private lenders.

Before choosing any loan, look into all options and become educated about each one to learn which is most appropriate and feasible.

should be sure to enter into an exclusive

agreement with that is exclusive.

A wide variety of factors exist that influence how valuable your property value.

Look for structures that are uncomplicated and sturdily built if you ‘d like to rent out the properties you purchase. Because they know that these properties are higher in quality and have nicer appearances, these will attract potential tenants.

Make sure that the property has access to utilities. Your business may have unique utility needs, such as cable, but at the minimum, there should probably be a sewer, sewer, phone, gas.

You have to think seriously about the surrounding neighborhood of commercial real estate you may be interested in. However, if your services are more frequently utilized by people of lower socioeconomic brackets, consider a location in a neighborhood that fits your potential clientele.

As the above information makes clear, you can successfully invest in the commercial side of real estate when you take the right approach to it. In the real estate market, things like dedication, technical knowledge and skill will go a long way. Not everyone will enjoy success, but if you take the above tips and follow them, you will have a greater chance of success.

If you are considering a commercial real estate investment, you need to have some knowledge of the kind of commercial property investment you are looking for. You can lose a great deal of money if you make an ill-advised choice in commercial real estate property. Read this article to learn how to make better commercial real estate investment decisions.

As the above information makes clear, you can successfully invest in the commercial side of real estate when you take the right approach to it.

Earn Money In Commercial Real Estate. added 11-3-2017

Are you ready to buy your first piece of the commercial property market? This article will serve you as a successful transaction. The following tips will make it easier to find and purchase the right property searches.

Do not go into making quick real estate decisions. You might regret it when the property does not right for you. It could be a year to get the right investment in the real estate market.

You will probably have to spend a lot of time on your investment at the beginning. It will take time to find an opportunity that is profitable, and after purchasing a property, you may have to wait for repairs and remodeling before you can start monetizing your investment. Don’t throw in the towel because this is a lengthy process that gobbles up large portions of your time. The rewards you see will show themselves later.

When choosing a broker, you should find out the brokers’ experience level in the commercial real estate. Make sure they have their own expertise in the area that you’re selling or buying in. You and this broker should enter into a type of exclusive agreement that is exclusive.

A variety of factors exist that influence how valuable your property value.

This can avoid bigger problems after the post-sale.

You have to think seriously about the neighborhood where a piece of the commercial real estate. If your business services will do better in a poor neighborhood, then purchase in an area where there are more buyers suited to your business.

Advertise the commercial property both to local and wide. Many sellers mistakenly assume that their property is only to local buyers. There are many private investors who would purchase reasonably-priced real estate that is not a local area if the price is right.

When drawing up a letter of intent, try to keep it brief by agreeing with the bigger issues initially and let the lesser issues be resolved at a later time.

If you are investigating multiple properties, draw up a checklist to compare the features of the different properties. Take the first round proposal responses, and use it when speaking with the property owners. Do not be scared to let it slip to the owners that there are other properties you are considering. It may help get you a great deal on the property you’re touring!

You should now be ready to purchase your first commercial property. You may have thought you were already well-prepared, but you can never have enough information when it comes to investing your hard-earned money. With luck, the advice in this article will point you in some new directions that lead you to commercial real estate success.

Home Mortgage: Tips To Keep You Safe added 10-5-2017

A dream shared by many is home ownership. It really is a source of pride. That average person can buy a home only with the help of a home loan. It’s important, then, to know all that you can, and this article is a good starting point.

Don’t borrow the maximum offered to you. Lenders give you an approval amount, but they do not always have all the information about what you need to be comfortable. Consider your life, how your money is spent, and what you can afford and stay comfortable.

You may be able to get a new mortgage thanks to the Home Affordable Program, even if your loan is more than the value of your home. Lots of homeowners failed at their attempts to refinance underwater loans in the past; this new program gives them an opportunity to change that. Gather information about it to see if it can be of benefit to your situation as it can lead to a better credit situation and lower payments on your mortgage.

Avoid overspending as you wait for the closing day on your mortgage. Lenders generally check your credit a couple of days prior to the loan closing. If there are significant changes to your credit, lenders may deny your loan. Wait to buy your new furniture or other items until after you have signed your mortgage contract.

Make certain your credit history is in good order before applying for a mortgage. Lenders will scrutinize your past credit to determine how much of risk you are to them. If your credit is bad, you must repair it before applying for a mortgage. This will improve your chances of acceptance.

Before you apply for a brand new mortgage, determine whether or not your home has decreased in value. While it may seem like your home is the same after buying your home, there are things that the bank will think are different and that can make getting approved a lot harder.

If you are timid, hire a mortgage broker. You need to understand the mortgage business, and a professional can help. They will also make sure that all of the terms of your loan are fair.

These tips should clear up some of the questions you had about securing a mortgage. Use what you’ve gone over here for help. Then, you can have a better understanding of home mortgages and make better decisions when it comes to owning a home of your own.

Tips on Buying A Commercial Property added 9-4-2017

It can be difficult to find the real estate you need for beginning your business. Read on for ideas and suggestions that will help you.

Never be afraid to negotiate, no matter which side of the table you are on. Make your voice heard and strive for fair market value pricing.

When diving into the world of commercial real estate, it is important to stay calm and be patient. Don’t make any hasty investment decisions. You’ll regret it quickly if your lack of research results in a property without much resale value. Stay patient; it could take a year or more for the perfect property to materialize.

Location is essential to the commercial real estate. You will want to consider many things, including the neighborhood that the property is located in. Look at similar neighborhoods to determine the likely growth trends over time for your property’s neighborhood. You’re not only thinking about the here and now; you want to look a decade down the line too. Pick an area with the potential for sustainable growth.

Residential property transactions are much less intricate and protracted than are commercial transactions. Understand, however, that this additional time and effort often translates into higher returns.

Choose simple, strongly constructed buildings if your plan is to purchase real estate for the sole purpose of renting or leasing it. Tenants will be interested in buildings that look well-cared for. Because these properties are in great condition, the property owners and the occupants will have a simpler time with basic maintenance service.

Try to keep your commercial property rentals at full occupancy. If you have any empty property, then you are responsible for its upkeep and maintenance. If you have multiple vacant properties, figure out why this is, so you can understand why your tenants are leaving.

Make sure you have the right access that has utilities on commercial properties. Every business requires certain utilities, most commonly things like water, sewage, and electricity.

Both local and non-local advertising of your commercial real estate property will be beneficial to you. Many sellers mistakenly assume that their property is only interesting to local buyers. In fact, the interest level can expand far beyond the local scene as private investors expand their interest. These investors are searching for affordable property and may be interested in yours.

In the previous paragraphs, you saw a variety of advice that will help you in your commercial property dealings. This advice will help you stay informed.

Cutting Down Your Home Owner’s Insurance Policy To Fit Your Needs added 8-3-2017

You can save significant amounts of money by conducting some comparison shopping for home owner’s insurance. Sometimes, it isn’t enough to compare them side-by-side. You may need more advice to get the best policy. You will find this information of great use.

A lot of renters do not think about buying renter’s insurance. Even though you may get coverage because your landlord has fire coverage, your personal stuff may not be covered. To protect your items from misfortune, you must find a personal policy that meets your basic needs.

When filing an insurance claim, get several quotes from area licensed contractors. You should keep all the documents you get from contractors as well as receipts from the work done in your home. Keep track of all monies spent on temporary lodging, as these outlays may be fully reimbursable under your policy.

There are many risks to your home. Fire is a major factor. You have to buy a policy that protects your home from arson, fires caused by wildfires and human error, as well as cars, earthquakes, and storms. You must ensure that you have coverage to protect against such damages.

Tracking devices and alarm systems can help lower your monthly premiums. Keeping your home safe will keep your insurance company happy. As soon as you have these safety features installed, contact your insurer so that they can reduce your premiums right away.

Try to pay off your mortgage prior to getting home insurance. When your mortgage is paid off, be sure to inform your agent. Insurance companies may consider you to be a more responsible homeowner if you own your home outright.

When remodeling, make sure that you think about the insurance that you will need to cover the changes. If you add a room or extension onto your house, this will add to your insurance, but the amount of the increase will depend on the materials you use to build with. For example, expensive materials like granite and glass tiles will cost more to insure. This is because the insurance company would have to pay a higher dollar amount for these materials, compared with the relatively inexpensive cost of linoleum or formica.

As these tips show, there are quite a few things that you can try to reduce your costs while still keeping the quality of your insurance policy high. Make sure you always have up-to-date coverage on your home. Be certain that you are always covered. Take these tips into the marketplace and use them to secure a good policy at a reasonable cost.

Cost Advantages of Modular Homes added 7-4-2017

Modular homes are a great alternative to site-built houses, with some extra advantages. While some people say modular homes aren’t “real” properties, that’s not the case at all. Modular homes are as a permanent structure as site-built homes and have some notable benefits site built house do not enjoy. So, let’s take a look at some of the advantages of modular homes.

Cost Advantages of Modular Homes

Modular homes or prefabricated houses are an option for people who want to build a custom property but do not want to incur the high cost. In fact, a prefab home is a savvy way to actually save money while getting everything you want out of a custom built property. Here are some of the cost advantages of modular homes:

● Cost control. One of the leading complaints about site-built homes is going over budget. While it sometimes involves the eventual homeowner changing their minds and making changes, it’s usually due to delays, the cost of materials, and more. But with a modular home, the budget is set when the home is designed.
● Faster build time. Speaking of delays, which can cost the homeowner more with extra expenses, modular homes are built faster, about half the time it takes to construct a site built property.
● Energy efficiency. Another long-term cost-benefit of prefab homes is these are built for maximum energy efficiency from the get-go.

All of this, not to mention that you can get a completely customized home for much less than a site built home with a modular house. If you are Interested in Buying a Modular Home in the Florida Keys, please contact me

Looking For A New Business Location? You Need A Professional Real Estate Broker’s Help! added 6-5-2017

When your business is going through a phase of expansion, growing out of a small space, such as an office, a spare bedroom, or just your garage, then you need to have a vision of where it’s going to go in the future. What location is ideal for your business? Are you looking at places that might impress other professionals? Or are you going to be interacting with the public through services or retail? It’s well worth it to discover just the right broker to guide you to the right real estate space, either to buy or lease, that matches your company’s needs. For Help Buying or Selling Commercial or Residential Real Estate in the Lower Keys and Key West please contact me

When an entrepreneur contacts any realtor seeking advice on real estate, then that realtor needs to take the time to actually get to know the client, the business, the hopes and dreams, and most critically, the budget. All of this knowledge helps the realtor find the ideal solution for their client.

A lot of folks think they might save money doing real estate transactions on their own. There’s a lot of things these days that might go wrong, particularly when you move into any commercial space. This itself is a very hefty financial commitment. In a lot of cases, the rent a business pays is the second-largest expense it faces, following payroll.

Depending upon the specific nature of both your business and your market, a potential business relocation might take over six months to pull off. It will most definitely take time and your energy away from actually managing your business. Leasing space for a business is a complex deal. Given that real estate regulations and rules are always possibly changing, it’s smart to rely on someone professional to represent your best interests through the process. It’s also critical that you ask your realtor for a recommendation for a great real estate attorney, given that a lease is a very specialized document.

Have you ever dealt with a landlord that said something along the lines of if you’re not personally dealing with any real estate broker, they’d let you move in without having to pay the first month of rent? Or have you been looking at buying a building only to hear the seller claim he’d sell at a lower price if there wasn’t a realtor involved? Don’t do it! On the other hand, if you ask any realtor what other properties got sold in the last year, you’re going to be shocked that you didn’t get the sweet deal you expected. Always work with a realtor, and in most cases, the realtor’s commission can be covered by the landlord or the owner/seller.

If your budget is lean or tight, then a realtor might help you locate an owner or landlord that will “build to suit” just what you need. For instance, consider this true story: A successful entrepreneur was hoping to open up a rather impressive franchise office for insurance. He was looking for at least a dozen offices, a pair of conference rooms, a media room, an employee lounge, a kitchenette area, and a reception greeting area with a front desk, table, and couches. He even wanted a child play area for customer kids. This huge expense was going to be on top of the franchise fees as well as startup costs including things like phone systems and copy machines. His realtor actually found him a spot where the landlord/owner promised to “build to suit” in exchange for a decade-long lease.

House Flipping 101 added 5-5-2017

Most people have watched a television show about flipping a home for profit. Home flipping is a real estate strategy that involves buying a home for an extremely low price, renovating the home and then reselling the home for a profit. Many professional home flippers make a living by buying foreclosed homes and flipping them. Oftentimes, these professional home flippers will purchase several homes and do renovations on these homes at the same time. In order to be a successful home flipper, you must learn how to properly flip a home, complete renovations in a timely manner and as inexpensively as possible to ensure you make a profit off of a home flip. You also must understand all zoning laws that affect construction and any neighborhood, city or country restrictions. Finally, house flippers typically set a 90-day timeframe.

Before you begin looking for a home to flip, you must determine how you are going to finance the project. If you have excellent credit and a background in construction or real estate, your bank may extend you a line of credit. If not, you will need to be creative in financing the home and the renovations needed for the flip. One way to do this is to find a silent partner who is willing to give you an advance. This arrangement often requires you to pay back the money with interest as well as a percentage of the profit.

Once you have obtained financing, it is time to start looking for the perfect house to flip. There are several things that you should look for when looking for a house to flip, including:

* Affordability – The house must be at a price that gives you enough room to complete the renovations and still make a decent profit. Typically, homes that have been on the market for a while or those that are in foreclosure are great choices. When a home has been sitting on the market for a while, the owners or the bank are more likely to accept a low offer.

* Salvageability – When looking for a home to flip, you want one that is structurally sound. Check out the foundation and roof to ensure they are in good shape. You also want a home that only needs minimal upgrades to the wiring or plumbing and a few cosmetic updates. Renovating electrical systems, plumbing systems, roofing systems, and foundations can end up costing you thousands of dollars. Instead, opt for homes that simply need cosmetic renovations as this type of renovation does not cost a lot of money.

Finally, understand that the location of the property is vital to the success of a house flip. Never purchase a home in an area that you would not want to live in.

Investment Opportunities and Tax Advantages in Owning a Vacation Home Rental in the Keys-added 4-4-2017

The Keys are a great place to work and play. But this chain of islands off the coast of Florida situated between the Atlantic Ocean and the Gulf of Mexico also has hidden potential. And that comes in the form of investment opportunity. When people think of the Florida Keys, they think of sunshine, beaches, sparkling water and balmy breezes drifting about day and night. They think about watching sunsets and sunrises, strolls along the coastline, a tropical lifestyle, casual dining and mouthwatering seafood. But there’s a lot more to the Keys.

Investment Opportunities in the Florida Keys

Because the Florida Keys are an international tourism destination, there’s certainly a lot of recreational opportunities. And that makes for an environment which is ripe for real estate investment. The abundance of tourism means people need a place to stay during their visit and those who are looking for a great opportunity ought to take notice. Now, it’s a matter of sorting through all the available real estate properties on the market. In general, it’s best to look for properties that are near the water and in close proximity living amenities such as dining, entertainment, and shopping. Although these properties will be more expensive, they will command higher rents and be in higher demand for travelers. Tax Advantages of Owning a Vacation Rental Home

Getting down to the financial benefits of owning a vacation rental home, there’s more than just taking in rent payments. There’s the benefit of certain deductions and if you make use of the property in the right way, it can be a great source of income. Here are a few things you should know: Rent seldom and reap the benefits. Rent your vacation home in the Florida Keys for less than 15 days in a year, and all that rental income is tax-free, according to the California Society of CPAs.

Rent more, deduct more. If less than ten percent or two weeks of the year isn’t realistic to your situation, then take the deductions. Your tax bill can be lowered by claiming certain deductions. Costs for storage, maintenance and other things like travel and insurance can be written-off in-part or as a whole.

Mix-up the use. Stay in your vacation rental home in the Keys for ten percent of the time and claim it as a second home but not as an actual business property. That has benefits as well.

For more information about buying a vacation rental home in the Keys, contact us. We can educate you on process and benefits of purchasing a vacation rental home.

Ways To Find The Best Home Mortgage Rate added 3-2-2017

The best things in life are hard to get. It isn’t simple to locate a home mortgage that works for you. You need proper knowledge and have patience in order to fully know what your options are. Use the advice here and you get the best mortgage for your mortgage.

Start preparing for the home mortgage early. Get your financial business in line before beginning your search for a home and home loan. You need to build substantial savings stockpile and make sure your debt. You will not be approved if you wait.

Before you try and get a mortgage, study your credit report for accuracy. The past year has seen a tightening of restrictions on lending, so improve your credit rating so that you have the best chance to get qualified for the best loan products.

You should have a stable work history to get a home mortgage. A lot of lenders need at least 2 steady work history is important to a mortgage loan. Switching jobs often may cause you to be disqualified for a mortgage. You should never want to quit your job during the loan application process.

You are going to have to pay a down payment on your mortgage. Some mortgage companies approved applications without requiring a down payment, but most firms require it nowadays. Ask how much of a down payment is before applying for a mortgage.

Make sure your credit is good if you apply for a mortgage loan. Lenders examine your credit history closely to be sure of accepting a minimum risk. If your credit is poor, do whatever it takes to fix it so your loan is not denied.

Make sure that you have all your financial paperwork on hand before meeting a home lender. Your lender will ask for a proof of income, bank records and documentation of all financial assets. Being organized and having paperwork ready will help speed up the process and allow it to run much smoother.

Think about getting a consultant hired if you through the entire process. A home loan consultant looks after only your best interests and can help make sure you get a good deal. They also can ensure that your terms are fair.

With a decision as important as signing a mortgage for a new home, you will need to ensure you understand everything fully. Go slow, and digest as much of this information as possible. That is where the information contained in this article will help. Apply the ideas above to truly comprehend the intricacies of the process.

Questions To Ask About Real Estate Investing added 2-3-2017

Many people think that investing in real estate is a sure thing, maybe even a get rich quick scheme, but it is neither of those things. Real estate only pays off if you’re in it for the long haul and are well educated before you begin. This article will ask you the hard questions you need to answer before putting a dime into an investment in real estate.

Can you make the time commitment? When it comes to investing in commercial real estate, there are many responsibilities which come along with it. The same can be said about rental properties. It is your responsibility to keep the land and the buildings on it in great condition, ensure codes are met and meet the needs of your tenants, too. Do you have time to do it all? For Help with Key West Commercial Real Estate please contact me.

Do you know who can help you? This means financial advisers, loan officers, superintendents, land maintenance firms, realtors and more. When the property you buy isn’t one you plan to live on, you need help in keeping it in great shape and abiding by all laws.

Do you have the money needed to maintain your purchase? You don’t just need a down payment and mortgage payments, you also need money to keep the land and buildings in good condition. That likely means paying someone to cut the grass, clean up messes, repair damage, etc. Can you afford it?

Can you do it alone, or do you need a partner? When you involve a second person, things can become dramatically more difficult. You will have to consult with them on every decision, ensure they are trustworthy, and potentially deal with drama if they ever become upset with your actions. When you have to bring in a second person, truly consider all of your options before you go ahead with it.

Do you see the big picture, or are you only looking at tomorrow? Consider not only tomorrow, but next month, next year, and decades to come. If you don’t, you may end up regretting your decision down the road.

These questions aren’t easy to answer, but the truth will set you free. When you avoid an investment which would have put you out of your own house and home, you always come out on top. When you have all the answers and know that this sort of investment is right for you, go ahead with it and enjoy the rewards!

Finding A Commercial Estate Pro–added 1-3-2017

Commercial real estate is a very wise investment, but it can be very intimidating for someone who doesn’t know much about it. It is a good idea to hire a professional to help you along the way. Hiring the wrong person can set you back a lot, so follow the tips here. They will help you find someone to make the entire process easier for you.

Everyone is not an expert at everything, so work on finding someone that has experience in the type of property you would like to buy. While you may find several realtors that claim to be a master at all types of real estate, focus on those that specialize in commercial sales. They will know many ins and outs that someone unfamiliar with it cannot show you.

Ask potential realtors how much time they have to devote to helping you. A realtor is not a babysitter, but they are trained to be your eyes and ears when you are doing a business deal. If they have too many clients, they may not be able to devote all the time you need to find the right property. If you choose to give a busy realtor a chance, do not be surprised when you are not given a lot of personal attention.

Everyone is not the same, so you should take that into consideration when hiring a realtor. If you are put off by someone for any reason or you feel like your personality clashes with their, you should seek out another person to help you. This is a very big deal, and you do not want to continuously butt heads with anyone throughout the entire process.

Even if your realtor is not at your beck and call, it should not be too hard to reach them over the phone. Ask potential realtors how long it generally takes them to return calls from clients. You should not expect them to say they will answer within the hour, but if they cannot call you back within 24 hours, that is definitely a red flag.

Finding a commercial real estate pro is not going to be a piece of cake, but the tips here can make it a whole lot easier. While you may think you know all there is to know about it, having someone beside you that knows all of the ins and outs will make the entire process a lot smoother.