Everyone these days seems to want the ultimate in everything when it comes to the location of their property. Be it the purcha…
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When one is thinking about how to invest in real estate, it means that they are thinking about what kinds of properties they can invest in. They would also need to consider the following things:
– The types of properties that one can buy.
– The strategies that one can employ.
– The kinds of risks that are involved when investing in real estate.
– Where would you get funding from?
– Would you be investing because you want to flip it or you want to rent it?
– Would you invest because you want to reside in the property?
– Are you buying it because you want to use it as a vacation home?
These are all of the things that should cross in the minds of people who are considering an investment in real estate. Here are the 4 common types of investing in real estate.
– An investment when it comes to fix and flips are best for short term investors who actually want to buy the property in order to renovate it, make it all better and then sell it for a profit. If you are looking for a profit for your own house cincinnati real estate companies have some of the best realtors who can work their way around to help you get your dream house.
– Renting the property is actually a long term investment. A person purchases a property in order to let it out to rent. They also make sure that they own the house and the property; they charge people an amount so that they can live there and rent it.
– The vacation renting property is the kind that has investors who are interested in wanting to offset some of the vacation costs and build up the equity and even rental income.
– The commercial real estate type is the kind that is best for business owners and also very experienced investors.
Here are some ways that you can get involved when it comes to investing in real estate.
It will offer some great ways to have a stable income and even equity options with a lot of opportunities to have money come into your account without you even having to lift a finger. A very common way you can do this is if you save up enough money to purchase a property and then purchase it, you can rent it out. The rent that you get every month with be the perfect amount to contribute to your livelihood and luxuries. After a couple of years, if you are interested in selling the property, there are many chances that the property value would have appreciated a lot. That means that if you have invested a million dollars 5 years ago, that same property could have appreciated to 2 million dollars presently. Real estate is indeed a great way to make money in a smoother way.
Being a property manager is quite a tough job as you are supposed to build a better relationship with your customers so you can win more projects. You must have excellent knowledge of what type of things are involved in managing a property in a perfect way. If you don’t have enough knowledge of how to deal with different projects, you must start working as an apprentice with an expert property management company like property management Dallas.
This will help you understand the way of communicating with the clients and it will also allow you to polish your skills to satisfy your customers. Here are the five important things that you must keep in mind if you want to keep your clients happy.
Excellent Communication is the key to keeping your client happy because your clients always want to hear from you about how well are you doing to their property. The property is a major investment, therefore, the clients are extremely worried about their asset and they always want to stay informed about the situation of their property. You must constantly stay in touch with your clients to keep them informed about the situation of their property.
The next thing you must do is constantly send the written updates to the clients about what changes have appeared on their property and what things are supposed to be addressed in their property. Whether it is an expensive change or a cheaper one, you must send proper updates to your clients so that they stay satisfied with your performance.
Keep a record
You must consider keeping a record of all the changes that are made to the property over time. This will help in protecting yourself against several allegations and the clients will also feel satisfied when they see a yearly report about the maintenance of their property. Keeping a record is extremely important even if you send the regular updates to your clients. The documentation will provide you a lot of benefits in case of a future problem.
The politeness is the key factor in almost all the business but when it comes to the property management, you must talk to your clients with proper politeness because you won’t be able to express the entire situation if you became aggressive at some point. And this will definitely lead you both to a major dispute.
Regular visits to the property
You’re responsible for the management of your client’s property. So, it’s your responsibility to visit the property regularly to stay informed about the current status of the property. Don’t forget to capture photographs during every visit so that you may display those images as a proof. Here are some other ways of keeping your clients happy if you’re a property manager.
Your home is one of the greatest assets you can ever own and that’s why it must always be in its best condition all the time. If you are not keen on monitoring your house, serious damages can occur without your knowledge. Water damage is common among homes but the problem is that some homeowners may find it hard to detect. To ensure that the damage caused by water doesn’t cause severe problems, the following 5 signs will help you take action in advance.
Mold can never exist if there is no water around. If it happens that you observe the formation of molds in your home in places you never expected, then you should suspect something. This may be due to some unwanted moisture arising from water damage and this may call for some water damage repair and restoration by experts if after drying it up personally, it still shows up later.
- Pool of Water
How can you expect water to puddle in a particular place in your home where no one was involved? For example, you can find in your car’s garage a water pool which created itself. This could be because of water damage that is just showing up. In case you clean it up and still comes back later, that’s a sign of water leakage.
- Unwanted Smell
The other indicator that can be used to identify damage by water is a bad odor that didn’t exist in your home. Dampness can be the main cause of this smell hence another simple sign to detect the damage caused by moisture.
- Cold Temperatures
Have you ever tried to heat your home but ended up with the same coldness? One of the reasons why this could be a sign of water damage is that walls that may have absorbed leaking water will try to use the existing heat to escape away from evaporation. The dampness in the walls and floors will also contribute to cold temperature. During summer you never have to heat your house but when it calls for then this can be a sign too.
- Sound of Dripping Water
It’s quite common for your tap to drip and produced that sound which you are used too. How about when the same sound originates from where you never expected? Try to investigate this unusual sound because it could be another sign of damage caused by water.
The above signs are just but the tip of the iceberg that should call for water damage restoration experts.
Unfortunately, we are no longer able to offer property financing with the recognized institutional lenders with which financing Thai property by a foreigner was viable.
Previously, both UOB Bank (Singapore) and Bangkok Bank’s Singapore branch would offer financing to qualified foreign borrowers through their Singapore offices, however Bangkok Bank no longer offers this facility at all.
UOB Bank however will still offer this loan facility to qualified borrowers for Bangkok condominium property of a certain value, being bought BY SINGAPORE CITIZENS OR PERMANENT RESIDENTS for the purpose of residence, NOT as investment/rental property.
Please note that this facility if ONLY available on existing Bangkok condo’s (no off-plan) and only to Singaporeans.
Of course there are alternative ways for foreigners to finance Thai property purchases, be it through remortgage of exiting property in your home country, or alternative methods, however we are unable to give any guidance through that process.
We will endeavor to keep up to date with the financing situation with local real estate and international banks regarding Thai property, meanwhile of course Thai borrowers can choose their lender at their leisure!
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Everyone these days seems to want the ultimate in everything when it comes to the location of their property. Be it the purchase of a condominium or landed property, or the rental of the same or an apartment, the words we hear the most are “within walking distance of the BTS, 200 or 300 meters maximum, and nearby to an expressway entrance so that we can get to the airport quickly.” This is understandable in a city that experiences traffic, and gridlock the way that Bangkok does, however, let’s take a look at the problems that this causes, and some possible solutions.
First and foremost, if you stick to a strict distance of within 300 meters of a BTS station, your choice of property is severely limited to maybe 10-15% of the actual property stock available in Bangkok, much less when talking about landed property. The other downside of this requirement is that prices are infinitely higher when it comes to these locations for the simple reasons of supply and demand. One further downside, which is often overlooked is the fact that if you own a car, in general it is more difficult to get to these properties that are near to the BTS stations due to the volume of traffic on the main roads and the one entry/exit route.
“What are the alternatives?” I hear you asking? “Bangkok traffic is so bad; we need to be on the doorstep of the public transport system to get around freely!” While this is one solution, there are others, which can result in superior property, for less money, in an arguably better location! These are:
- Look for a property which may be a little further away from the BTS, but which offers a shuttle service to and from the end of the Soi. There are many of these buildings around, and they can save you a long walk in the sticky heat.
- Look for alternative forms of transport to your home. Most of the sois in Bangkok have either motorcycle taxis or tuk-tuk vehicles at their mouth, or at the junction with the main road. Utilizing these methods of transport deeper into the sois will open up your potential property list endlessly. Particularly when looking for houses, rather than condos and apartments, don’t rule out the suburbs, such at the RamIntra, Ramkamhaeng, Bang Na and Srinakarin areas, however, do make sure that there is easy access to the expressway system to enable a quick commute into town.
A fantastic example of these points would be a compound such as Villa 49, which is a compound of townhouses located on Sukhumvit Soi 49. It is at the very far end of Soi 49, as far away from Sukhumvit Rd, and the skytrain as it is possible to go, way too far to walk comfortably. However, right outside the compound is the pier for the canal boat, which will take you to the MRT station at Petchaburi within 5 minutes. What an interesting way to get around the city! There are also tuk-tuks at the front gate should you wish to get to the main Sukhumvit Road, and there are at least 5 routes which you could drive to get to the compound, maximizing your options when it comes to avoiding the Bangkok traffic jam. As an added bonus, you can wake up to the sound of birds singing in the morning as you are away from the main roads and pollution. Find out more here.
The moral of the story? Think laterally, open your mind and don’t just follow the crowd because you think that might be easiest; It’s not always the case. Look a little harder and you can find the hidden gems.
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