How to Find a Great Luxury Real Estate Agent

Posted by on Jul 27, 2018 in RealEstate | Comments Off on How to Find a Great Luxury Real Estate Agent

Finding The Best Luxury Real Estate Agent

As a seller, your biggest concern is how to get the best possible return on your investment. It is not easy to sell a house, much more in the Toronto luxury real estate market. There are so many things to do. If you don’t know anything about the real estate market, selling your house can be time-consuming, stressful and may not be as rewarding as you initially thought. If you think you need professional help, here are some pointers in finding a great luxury real estate agent to sell your home:

Ask around. Your relatives and friends might have had experienced selling their houses as well and they can give a name of the agent they have entrusted in doing the job. Asked them what turned out after closing the deal. It might also help if you will inquire about the marketing techniques employed by the agent as well as his character. A referral is not enough, you need to get valuable information about the agent so that you will know if you can trust him or not.

After having at least three referrals, invite each one for an interview. Doing an interview is the best way for you to assess the services that they can offer as well as their capacity to do the job. Review their resume and ask important questions pertaining to their strategy in selling your property. You can also inquire how they will evaluate the price of your house in relation to comparable listings on your neigborhood. Don’t forget to ask them what are their marketing strategies in selling your property.

An interview will not be completed if both of you will not discuss the commission scheme. Typically, a real estate agent’s commission is 6% of the market value of the house. For a luxury house, that is already a lot. Some agents will negotiate for a higher commission, but don’t fall into it. Instead, you can discuss with him other expenses that you need to pay in order for the house to get sold. However, give the agent your assurance that should you need to sell another luxury house, you will be hiring his service again. Or you will refer him to your well-off friends who might be looking for their own luxury houses as well.

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Rental Property Management-An Analysis

Posted by on May 5, 2018 in Business, RealEstate | Comments Off on Rental Property Management-An Analysis

Having your own rental property management plan is key to residential rental property investing. Its 8:30 at night, your tenant calls and says water is leaking very badly under the sink. Its 8:30 at night, your tenant calls and says the toilets clogged. Its 8:30 at night, your tenant calls and says a window just got smashed. Its 8:30 at night, your tenant calls and says the roofs leaking. Its 8:30 at night, your tenant calls and says the heats not working. Its 8:30 at night, your tenant calls and says the bedroom doorknob fell off.

How about a gutter gets disconnected. No big deal, when it rains make sure your not standing underneath it. Winter comes, where water hits the ground, it starts to collect and then it freezes. Whoops, someone slips there and you get sued. Big problem. It pays to have a rental property management plan. How about that exterior porch wood that needs painting. No big deal. Next year. Next year comes and goes and you saved 700 bucks not doing it. Three years later you spend $2000 having wood replaced because its to rotted. Big problem. It pays to have a property management plan.

You get the idea, whether something breaks or routine maintenance – things need to get fixed and maintained.  A good rental property management plan helps ensure easy and profitable multifamily property investing. There are three main factors for a good rental property management plan. Knowing who is responsible for managing the properties maintenance, who is going to fix things and when will things get fixed  are the three main factors.  Having a game plan for these three things is vital for maintaining your rentals. Theses three factors should be addressed and included in the lease. This ensures the tenant knows ahead of time what to expect when things need repairing or maintenance.

Lets start with who will be responsible for managing your rental property.  Seventeen years experience of owning rentals has taught me that know one else will be better than the property owner for being  responsible for managing the maintenance of your rental units. So the most cost effective rental property management plan has the owner doing the managing. Before you say, oh god, what a nightmare managing rental property is, let me say I have learned and you can too, how to make property management simple and profitable. In fact, for those who understand and implement  a solid rental management plan correctly and continue investing wisely in cash flowing residential multifamily properties will find that their hourly pay time for managing  their rental properties is extremely lucrative.

Needless to say, I personally strongly advise against hiring a management company for residential rental property. Lets address who is actually going to be fixing  broken items or doing the required maintenance? You, the owner, your payroll help, a hired handyman, who is going to actually be doing the physical work for fixing and maintaining your rental units. Why is it important to have this be part of your rental property management plan? Well, what you don’t want is having every time something needs to be repaired become a stressful costly headache. By knowing who is going to be doing the repairs  ahead of time, through your rental maintenance plan, you eliminate two potential problems.

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Property Investments-Some Insights

Posted by on May 5, 2018 in Business, RealEstate | Comments Off on Property Investments-Some Insights

How it begins

Estate investing can be an everyday learning experience for both novice and successful property investors. What matters really is that if you want to deal in the property market and build a property portfolio you would need to buy properties sensibly and well researched. To get firsthand experience in real estate investing you could start by working with a property investment company. This is how many property investors have started their property portfolios.

Financing your Property Investment

This aspect of the property investment is being discussed first as it is the most important criteria. It is important that you work with right bunch of professionals who can help you arrange the best balance of finances. It is the first piece of the puzzle and there are a number of professionals that would help you. These professionals are financial advisers; mortgage brokers and finance experts who can help you get some of the best deals on your financial requirements. Ensuring you finance your property the right way is the very first crucial step towards a successful return on your endeavor.

Join a Property Investment Club

If you are good at residential property investments and would like to increase your profits then property clubs are quite lucrative. This would provide you with the opportunity to interact with other successful property investors and help you learn much more about the property investment market. Over a period of time you will network with some heavy-duty investors at the property investment seminars that are held by such clubs.

Why they help

The members of such clubs have plenty of experience in real estate consulting and some of these people invest in overseas real estate. Besides learning about property investment locally, you will also become skilled at making international property investments. Some of the opportunities that you may get can be some of the best property investments you may ever make. Being a Part of Property Management Companies. If you are not satisfied with the property investment appraisal that investment clubs offer, you can also try your hand at property management companies. The advantage that you will have with such companies is that besides the usual property investing they are also into rental real estate investing. The rental property business is very profitable but carries a fair amount of risk. The rental property investment involves both residential and commercial real estate investing.

What Else

Residential income property concerns profits by leasing apartments and flipping real estate by using off-plan property investments. If you want to make money by flipping real estate you must have a sound financial plan so that the investment deals can be closed quickly. You would need to have strong knowledge about the real estate market and find sellers that are in a rush to make a sale. Once you close the property deal, you would have to market the property correctly so that you make a sale with a sizeable profit.

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Fundamentals of Property Management

Posted by on May 5, 2018 in Business, RealEstate | Comments Off on Fundamentals of Property Management

Property management is an ever growing need as more and more people are now opting out of buying homes due to aspects such as the increase in mortgage prices. Renting is now becoming the more popular way of gaining property. It is because of the fact that more of us are now renting property that that need for property management has grown so much. It should be noted that property management requires time, intelligence and good attention to detail as well as management qualifications. Property management is the job of looking after the properties that people rent out. This is the same for residential and commercial property. Whatever type of property you have as long as you are renting it; you will be able to get the help of property a management team.

Property management companies have the responsibility to deal with multiple responsibilities and aspects of the management and ownership of real estate. The duties of a property management company is to negotiate and stabilise a relationship between the landlord and tenant. The duties performed by a property management company are pretty much the same if your property is a residential or commercial but here we are mainly going to be looking at commercial property. Whether your property is an office block, a retail store or a bar/restaurant the duties that a property management team will perform for you are: Collecting rent, Handle your letting, Asses potential tenants, Administration services, Maintenance of the property.

Commercial property management is an essential aspect of the property market if you want to increase the appeal or value of your property. It will allow you to get on with your renting business while the management company gets on with the day-to-day running. The extent of the service that is provided by a property management team is as flexible as you want it to be; it can be used as much as you need it to be.

A professional commercial property management service maintains and raises the level of occupancy, which enables a steady income. This is because a property management company keeps your commercial property in good condition in order to bring in business for the landlord. Your commercial property needs good curb appeal. This is achieved through keeping the structure, landscape and parking elements of the property in a clean and welcoming condition.

Your commercial property needs to be kept in good condition in order to attract customers to use your business. You need to ensure that your property is in good condition to attract businesses to set up shop within your property. If you have invested within the property market then you will want to ensure that you are getting the most from your investment, which is where commercial property management can help you. By keeping a well run and well maintained property you will generate interest within your business and therefore attract more custom. If you would like more information about what a commercial property management team could do for you get in touch with an expert company today.

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