Category Archives: Real Estate Tips

Chiado Real Estate

First Real Estate Purchase: My Tips for a Successful Investment

Home ownership is a dream for more than one in two renters in 2019. 54% of young people hope to become homeowners between 30 and 35 years. This stage of life, which generally translates a search for stability, can however be realized before the thirties. Having taken the step myself, I suggest you to discover my advice for a first successful real estate purchase.

Recommended: Chiado Real Estate

Many tenants think, often wrongly, that they can not access the property for financial reasons. But among them, how many have already calculated their annual expenses in rent? Rents “lost” since this money will generate no return on investment…

With my husband, we dared to do it, this calculation. And we can say that it caused us an electroshock! For 8 years, we rented an apartment for 694 € per month. That is 66,624 € spent in the wind. Even if this fact made us sick, it was decisive in our choice to become owners. By increasing our housing budget a bit and getting into debt over 20 years, we have been able to acquire an apartment of our own!

To you, who dream of independence and first successful real estate purchase but have not yet jumped, here are some tips.

Tip # 1: Determine the Needs and Search Criteria for Your First Real Estate Purchase

A (first) real estate purchase is reflected in the medium term. It must meet your current needs while being able to adapt to your future life, which may evolve. Whether you are alone, in a relationship, with or without children, imagine what your life might be like in 3, 5 or 7 years and ask yourself the right questions. What surface are you looking for? How many pieces are needed? Rather apartment or house? With or without a garden? What is the best location for your professional life and the infrastructures located nearby (shops, schools, associations, transport, road access…)? So many questions that must be asked before starting research. Because it is by establishing a framework and priorities that you will be able to evaluate the potential of the properties you will visit. A potential that is important to take full measure, since it is he who will define the current and future value of housing.

I recently read in a study that the French keep on average their property for 7 years. It is therefore likely that your first real estate purchase eventually leads to a new project (purchase of a house or apartment with a different configuration or location, for example). Having fully estimated the potential of your home as soon as you buy it, you will certainly be able to rent it or sell it more easily, at a price close to its purchase price.

Tip # 2: Define Your Contribution and Borrowing Capacity

Once the list of essentials is established, return to reality: the budget! Key point of any real estate purchase, it is from him that everything will flow.

Appointment at first with your bank advisor to make a precise inventory of your situation. The main points that will affect your loan will be:

  • Professional situation (profession, type of contract …)
  • Income
  • Savings capacity (banks are sometimes more confident towards a client with average salary but who save than towards a client with high incomes but who does not save money)
  • Possible debt ratio (up to 33% of net income, except for high wages or some professions considered “carrier” for which the rate may be higher)
  • Analysis of bank accounts (late payments, overdrafts …)
  • Personal contribution (the more important it is, the less the client is considered “at risk” for the establishment)

A tip that has served us well during our first real estate purchase: insist that you do not want to indebt you in a rash manner by showing that you have always honored the settlement of your rents.

Once the financing proposal has been obtained by your bank, do not hesitate to play the competition. Ask other banks or consult a broker who will find the best offer for you.

Tip # 3: Learn about Assisted Loans and Alternative Financing Solutions

Some loans exist to facilitate access to housing for first-time buyers. The most famous of them is the zero interest loans, which allows you to benefit from a rate without interest or fees. The following guide details its advantages and the conditions for accessing them: download the guide.

 Other forms of assistance exist, such as the loan for social benefits (which provides for notary fees and reduced filing fees) or the housing equity loan (better known as the “1% housing loan”), which offers some employees to take advantage of a complementary loan at a favorable rate.

 The interest-free loans or grants are also common during a first property purchase. Speaking of our project with our entourage, we ourselves had some nice surprises since relatives wanted to give us a financial boost.

This is why some market players propose to help you orchestrate the generosity of your friends, families and colleague’s .The brand goes even further since it contributes financially to each project put online.

 Solutions to build or strengthen his personal contribution exist!

 Tip # 4: Be Aware of Ancillary Costs

When buying a first property, it is necessary to be well aware of the existence of certain ancillary costs.

Beyond the purchase price of your home, consider notary fees. In the new, they are reduced, which can weigh in the balance nine vs old. Especially since we then benefit from several guarantees, which ensure the quality and the final rendering of housing, as well as the latest technical standards in force.

Loan insurance, the mortgage loan guarantee and some banking fees are also added to the bill. A tip: with good negotiation, it is possible to make significant savings in their overall cost.

Being a property owner is also paying a housing tax (you already pay one by being a tenant) but especially a property tax (the amount varies depending on the location of the property). All that being said, you will always be a winner compared to the rent you paid previously, without having anything in return.

Tip # 5: Inform Yourself about the Environment and the Condominium (in Case of Purchase of an Apartment)

As I said before, location is one of the key points of any real estate purchase. Do not hesitate to go around the city and the neighborhood at several hours of the day and night. This will allow you to soak up the atmosphere that will reign in your future home. Because an apartment or a quiet house between noon and two can be a little less during peak hours …We will avoid unpleasant surprises once the cartons unpacked!

 Last little advice if you plan to buy a first apartment already built; ask to see the minutes of the last general meetings of the condominium. You will be aware of any work that has been voted.

 So… Are you getting started?

Bismarck ND Real Estate

5 Pro Tips to Invest in Real Estate

Hi all, in this capsule, I asked my friend and client Geoffrey who is not his first investment, to give us his 5 tips for successful real estate investments.

Geoffrey bought his first triplex about 2 years ago. He made his first “flip” operation, which allowed him to make a profit of $ 100,000 and thus reduce its financial impact on his property.

Thanks to this operation, Geoffrey was able to invest in a 4plex, with which they made the rent only the first times. Currently, it transforms this 4plex into two townhouses to allow it to regenerate liquidity, this time in order to build a rental fleet.

All these operations in just 24 months. Here are his 5 tips to get started and succeed in real estate.

TIP # 1

Wonder why one wants to invest in real estate. What is the motivation behind all this? Do we want to live in it? Are we looking for an additional income? Is it for his own retirement? We want to leave to his children? It’s fundamental according to Geoffrey to know why; we want to invest in real estate. In other words, identify his motivation.

TIP # 2

Know your investment potential, that is, before you start, get pre-approved to know how much you can invest. Is the job stable and will we keep it, etc.? It’s important to know your true investor potential, so when it comes time to shop around, we already know which investments to turn to. Determine your target in relation to your means.

TIP # 3

Build a strong team, that is to say surround yourself with professionals, and because you can not know everything, manage everything and even less know everything. His website as an example of collaboration: Have a tax contact. To know a good entrepreneur, to have in his team a real estate broker is according to him capital.

He does not recommend embarking on the adventure of solo real estate investing. Also have a good mortgage broker, to shop for the best rates. Finally, also have in his team, or his contacts a building inspector.

In short, know professionals for each trade. According to our interlocutor, it is important to surround yourself to make the right investment. In the end, the investor is a bit like a “generalist”, who surrounds himself with specialists.

TIP # 4

To train you a little, as mentioned earlier, you can not know everything, know everything. According to Geoffrey, it is important to master the basics, one must be able to understand certain situations such as the installation of a French drain, or understand what it is, when his broker tells us about MRB, which is precisely an essential value in the rental investment.

You need to be able to quickly understand some key indicators, so you always at least understand the situation and what the property is worth. Geoffrey, who has had excellent training in France and had the opportunity to work with French investors, says that there are some excellent books and very good resources here in Montreal for this real estate investment.

Finally, he recommends networking in environments like the event where we are, organized by the Real Estate Enthusiasts. See below for interesting links.

TIP # 5

Take the plunge. According to Geoffrey, many people are ready, many have the potential to become very good real estate investors, but few people dare to venture. Many people find many excuses like saying that this is never the right time, according to Geoffrey; it’s always a good time to invest in real estate. Just take the time to find the right investment. We must stop to find excuses and jump into the water and work hard to make a successful investment.

Recommended Website: Bismarck ND Real Estate

Bismarck Homes For Sale

5 Tips for Getting Started in Real Estate

When you invest in real estate, you have a lot of questions.

  • How to search?
  • What kind of good looking?
  • How to find good deals

In this article, I give you 5 tips to get you started and make your first real estate investment.

The technique will be exactly the same for all the others :-).

#1: Take the time

From the moment you want to invest in real estate, take the time to take action to search real estate and then go for visits.

If for you, investing in real estate is a number one priority, we will have to review the list of all your priorities so that the search for your rental investment comes at the top of the list of tasks that you have to carry out.

So, I know what I’m talking about because from the moment I’m in the active search phase of real estate, I happen to consult ads ads sites several times. It can be Leboncoin, it can be SeLoger. I also create e-mail alerts, and then I do not hesitate to visit. Because if you want to invest in real estate, if you do not want to take the time to look for your future investment or time to visit, no one will do it for you. So, be sure to put the list of your tasks in order, list your priorities so that the real estate investment arrives in position one, position two or position three in the list of everything you have to make.

It is really important to look for this property because a real estate, once you’ve found it, it will be a lifetime income. So that’s my first tip, take the time to look for your first property.

#2: Do not scatter

Then the second piece of advice I can give you is not to scatter. Do not try to find the right deal in any city in France; do not try to run all types of housing. It is necessary to fix a type of good that one looks for and a city.

It is true that in talking with people, I realize that there are some people looking for both studios in Toulouse or buildings in Brest, so this is absolutely not the right technique. We must focus on a city and a type of property. So, it can be for example the studio in Toulouse.

From the moment you want to invest in a studio in Toulouse, you have to take action, look for listings of studios for sale in Toulouse, and then go make visits. You will see that this is the best way to gain efficiency, especially not to scatter and not waste time.

So that’s my second piece of advice. Do not hesitate to give yourself a framework to be effective in your research.

#3: Study the market

The third tip I can give you in this article is to study the city market in which you want to invest. When investing in real estate, you should not invest in a market or city that you do not know. So, you may be wondering how to study a city market because the city where you live has a price too high, which will lead you to look for real estate in cities that are not yours, well, the first step is going to be to apprehend this real estate market.

So, how do we apprehend this real estate market? You simply see the ads on the sites that I already mentioned, so it can be Leboncoin, it can be SeLoger, and it can be PAP. So, you’re looking at it roughly, if you’re looking for a studio, how much is a studio in the city that interests you. If you are looking for a T2, it’s exactly the same thing; you’ll see how much the average T2 costs in the city you’re interested in.

And then, especially then, we will have to go to make visits to impregnate neighborhoods, to identify areas in this city that are good for investment and those who are a little less good for investment.

And from the moment you go to look for this property, what I always tell you in my articles is that it will have to respect two criteria:

– Have a real estate liquid, that is to say that the property you are going to buy, you must be able to sell at any time, including the day after your purchase or the day after the work will be finished so to be able to separate you at any time without having a line of credit to repay.

– To have a rent large enough to cover not only the credit, but also all other expenses. And generally, what you have to do is respect the 70% rule, that is, 70% of your rent must be greater than your credit so that you have roughly a neutral or white operation vis-à-vis the bank.

So that’s the third tip I could give you. Soak up the market in your city and when you make the purchase offers, make sure that your real estate is liquid and that your transaction is neutral vis-à-vis the bank.

#4: Make offers

My fourth advice will of course be to do a lot of visits and a lot of offers because precisely, to respect the two rules that I gave you previously, namely real estate liquid and have a property that is self-financing and respects the 70% rule, there is a good chance that you have to make aggressive bids to buy goods below the market price. It is only by buying goods below the market price that one realizes good real estate business.

So, do not hesitate to make a lot of visits, including properties that you identify as too expensive at the time you view the ads online. And then, make aggressive buying offers against your profitability goals and compared to the goal I mentioned earlier, namely to have a liquid real estate.

It is very important to make a lot of bids because the vast majority of them will not pass. And so, to be able to have more luck and success, it will be necessary to multiply these offers of purchase. It will only take one aggressive offer to earn you money immediately at the time of purchase and then, as I explained to you earlier, to have a lifetime pension because an If you decide to never sell the apartment or house that interests you, it is a rent that you will keep for life.

#5: Prepare the bank appointment

And the fifth tip that I wanted to give you in this article, it is especially to prepare well the banking appointment. It is very important to prepare the bank appointment and not to appear in front of his advisor saying here, bah me, Mr. Banker, I want to buy a flat of 100 000 €. No, it’s not at all like that.

It will be necessary to prepare a minimum this appointment by explaining to your banker why you wish to buy this property, what is it of particular, why it is interesting, how much you will rent it, put him some numbers in front because the numbers are things that speak to the bankers, reassure him in relation to the fact that you are going to have liquid real estate, this operation will be neutral or transparent because 70% of the rent will be higher than the monthly payment credit…

Reassure your banker. If the banker finances you, he will make you a commitment over 15 years, 20 years, or 25 years, it is not nothing like commitment. So, put some numbers in support to show him that he takes a minimum of risk by funding your project.

Recommended Reading: Bismarck Homes For Sale

Chalets on Egypt's North Coast

4 Tips for Selling Chalets on Egypt’s North Coast

A quick search on Google is enough to see a multitude of places to rent a chalet. But can we really rely on it? Is this the best way to find? It is far from certain.

Recommended: Chalets For Sale in North Coast

1. Websites: Caution!  

First, be aware that many chalets offered on websites are rented illegally. For example, if an individual has the right to rent his chalet for the season, he can not do so for short periods on a regular basis.

If you ever make a deposit, or if a chalet was erroneously booked on the same dates as you chose, you have little recourse. And then, how do you make sure that the second home that you are about to book really matches what is indicated?

2. Accredited and inspected 

To make the best choice, opt for a chalet accredited by the Dimensions Real Estate. If they are accredited, they have been inspected. And by the same token, it is classified according to a number of stars (from 0 to 5).

Remember, however, that a 5-star chalet is necessarily luxurious and expensive. For a family holiday, a 2-star chalet can often be very suitable. The important thing is that it has been inspected. The system is not perfect, but it’s better than going for it.

Accredited chalets are listed on the original Dimensions Real Estate Web site, one of the biggest real estate websites that sell on Egypt’s North Coast . Just go to the accommodation section.

3. Outfitters: an alternative

On the same website, you can also find a chalet in the Outfitters section. It is often much cheaper and very pleasant if you like to find yourself in the middle of the forest. The federation is responsible for inspection and classification.

Even if the number of stars does not correspond exactly to the same criteria as that of the classification of secondary residences for the resort, it gives an index of the level of comfort, conveniences and services.

4. Region by region

Alternatively, refer to a regional tourism association, visit their website or make a phone call. Dimensions Real Estate seems to be the only association to check availability in our place and then call us back. Dimensions Real Estate also offers a personalized service.

If there are chalets for rent in most parts of Egypt’s North Coast, some tourism associations are better able to inform us. Thus, on the websites of Dimensions Real Estate is classified a list of chalets for rent (also called tourist residences).

Home inspector in Myrtle Beach

7 Things to Do Before Renting Your House

While renting your home may seem as simple as posting an ad on the real estate listing site in Marrakech, we recommend that you reserve a little time to prepare for your new business before you enter the world of research and tenant management. Here are seven essential steps that every new owner should take:

1. Get an insurance policy

Buying a homeowner’s insurance (also called rental property insurance) is one of the most important steps to take before renting your home. In addition to the items covered by a typical homeowner policy, the homeowner’s insurance will protect you from significant damage caused by tenants, as well as legal actions they may take against you. Be aware however that the rental property insurance does not cover the property of your tenant, who will have to take out rental insurance to cover his property.

2. Hire an accountant

Assuming that you are not an accountant or that you are unfamiliar with rental tax laws, it would be wise to hire an accountant to help you sort through the tax implications of renting your home. . An accountant will help you determine what documents you need to keep in order to view Schedule E at tax time. It can also help you find a way to lower your tax bill by helping you choose the right depreciation strategy.

3. Ask a lawyer to review your rental agreement

A lawyer specializing in real estate law can help you ensure that your lease Marrakech apartment does not contain any illegal provision, while protecting you from the financial damage that may result from tenants exploiting flaws in your contract. A good lease will specify how tenants can and can not use the property, how many people can occupy the lease, what insurance is required, who pays for the utility and what will happen if the tenant does not does not respect its obligations.

4. Establish criteria for a tenant

By following the guidelines of the Fair Housing Act, define a set of criteria that your rental applicants will have to meet and note it on paper for distribution to potential tenants when you show them the property. These criteria should include monthly income levels and acceptable credit scores, as well as the number of tenants who can occupy the home. You should also outline your smoking and pet policies.

5. Prepare your documents

Beyond the lease, you must have several forms in hand before renting your house. These include rental applications, credit check authorization forms, any disclosure required by your state, move-in checklists, moving forms and various notices to tenants.

6. Get a home inspection

Having your home inspected by a professional will help you resolve critical maintenance issues before your tenants move in. Home inspector in Myrtle Beach will protect you from potential legal problems, while avoiding you having to answer several maintenance phone calls in the first weeks following the rental villa Marrakech. Your property. Inspecting the home before a tenant moves and after departure will also provide third-party documentation of any damage caused by the tenant.

7. Clean, paint and landscape

Nothing can replace a deep cleaning and a new coat of paint to illuminate the interior of your rental home. While trendy upgrades may be optional, if you want to attract the most qualified tenants, this basic rental hygiene is essential. Also, it is important to ensure that the lawn and garden surrounding your rental home is tidy before displaying the “For Rent” sign.