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Tips on Real Estate

Contact the right Agent or Real Estate Broker: Contacting the right Real Estate Agent or broker is invaluable. In Cebu or even in the Philippines, you need not hire an agent or broker but just contact them and they are more than willing to help you find the property your are looking for in a manner as if you are hiring and paying for them. The small percentage of income from sellers/developers is already substantial for them that they no longer impose commissions from buyers. If you are unfamiliar with the area, the realtor you choose is your link to important information regarding schools, zoning, city and county regulations, neighborhood trends, building and remodeling and rental restrictions, and property values.

Every city has different laws governing what can and can’t be done with a property. You can find an agent or broker from friends or associates, directories, housing exhibits on shopping malls and nonetheless, the internet. It is important that you have a background of your prospective agent or broker and seek initial contact to find out if he can possibly do business with you in helping you find the property best suited for you.

Pre-qualify for Financing: Pre-qualifying for a loan may not seem that important until you find your perfect paradise property. When a property is priced to sell, it will usually attract more than one buyer. Once a seller receives an offer, the two most important things they consider are …the price, and the contingencies. For some sellers, a contract contingent on the buyer obtaining financing makes them uncomfortable with the offer.

Eliminate any doubt in the mind of a seller, by pre-qualifying for the amount you may spend on the purchase of any property.  This is especially important if your dream property suddenly has a price reduction. When this occurs other buyers might come into the picture, that didn’t look at that property before it went “On Sale”! Often times a seller will take a financially sold contract over a higher offer. Be ready to put a deal together.

Commercial Real Estate

Real estate has always been known as the safest of investments. In fact, real estate investment completed after proper research into and evaluation of the property (to determine actual and future value), can lead to tremendous profit. This is one reason many people choose real estate investment as their full time job. Discussions about real estate tend to focus on residential real estate; commercial real estate, except to seasoned investors, typically seems to take a back seat. However, commercial real estate is also a great option for investing in real estate.

Commercial real estate includes a large variety of property types. To a majority of people, commercial real estate is only office complexes or factories or industrial units. However, that is not all of commercial real estate. There is far more to commercial real estate. Strip malls, health care centers, retail units and warehouse are all good examples of commercial real estate as is vacant land. Even residential properties like apartments (or any property that consists of more than four residential units) are considered commercial real estate. In fact, such commercial real estate is very much in demand.

So, is commercial real estate really profitable? Absolutely, in fact if it were not profitable I would not be writing about commercial real estate at all!! However, with commercial real estate recognizing the opportunity is a bit more difficult when compared to residential real estate. But commercial real estate profits can be huge (in fact, much bigger than you might realize from a residential real estate transaction of the same size).There are many reasons to delve into commercial real estate investment. For example you might purchase to resell after a certain appreciation level has occurred or to generate a substantial income by leasing the property out to retailers or other business types or both.

In fact, commercial real estate development is treated as a preliminary indicator of the impending growth of the residential real estate market. Therefore, once you recognize the probability of significant commercial growth within a region (whatever the reason i.e. municipal tax concessions), you should begin to evaluate the potential for appreciation in commercial real estate prices and implement your investment strategy quickly.

Real Estate Investments

Real estate investing is a game, and is a very profitable one. It can be competitive, fun, but it can also be quite stressful unless you go about it in the most productive way possible. So that brings about the question of how you’re doing in your real estate investing. So how are you doing? Are you getting the best deals you can possibly get? Are you buying your properties at 50% to 65% of their fair market value?

So you’re not getting your properties at 50% to 65% of their fair market value. That seems to be one of the issues that real estate investors face because it is important to find the best deal in order to make the best profit with the sale. And how you’re going to do this is through the purchase of REO properties.

Focusing on REO properties, or real estate owned properties, is how you are going to relieve the headaches that you are facing. Because of the high competition within the real estate market, you are going to find that purchasing an REO is easier because there are not so many people going after it.

The fact that the competition is low is one of the ways in which you can get your hands on a property that will garner you a profit of 35% to 50%. Some real estate investors don’t even know what it is like to gain a 50% profit. Do you know what it is like to gain a 50% profit?

If you don’t know what it is like, that doesn’t mean that you won’t ever know what it is like. You just have to be proactive in your investing. It isn’t enough to scope out foreclosures and go to auctions. REO properties take you ten steps closer to achieving your investment dreams and, fortunately, it is very possible for you to obtain these properties. You just have to know where to look and be aggressive in your search.