The Lucky Cabin

Landlords and rehabbers take notice - you may soon be focused on the new concepts of “Virtual Real Estate Investing“. What is meant by “Virtual Real Estate Investing” ranges from online games like SecondLife (where real profit can be made) to the use of internet technologies to make normal real estate investors more profitable.

To separate fact from fiction, I asked Bryan Ellis for comments. He’s the man many consider to be the father of this new form of investing.

When I began using the term virtual real estate investing in the late 1990s, I did so because I saw clear parallels between the strategies used for profiting from physical real estate and those that would create income in the online world, said Ellis.

An example of the similar nature of “virtual” and “physical” real estate Bryan Ellis likes to point out is the methods of making a profit from domain names compared to physical real estate. He points out that control of a domain name or even a specific web page is much like controlling a real estate property ” those assets can be monetized in similar ways: By selling them for a profit, by leasing them, by offering advertising, etc.

The similarities really are obvious. Consider this: If you own a piece of real estate in a desirable neighborhood, your real estate has value because other people are interested in that location. Similarly, ownership of a desirable domain name is valuable for the same reasons. Regardless of the type of asset, you can sell or lease or use any number of strategies to turn the assets into cash.

In our next installment of this series on virtual real estate investing, Bryan Ellis will share the internet analogies to the physical concept of real estate development.

Buying a home is exciting, especially when it’s s Spanish country home. First, you need to find out how much financing you can receive. This way you will know how much you can afford to pay to purchase your home. Don’t forget items like outlays for repairs, taxes, insurance, furnishings and other necessities.
Recently, Spanish property–in particular, country homes–have not received particularly positive press coverage. It’s no uncommon to hear reports of peoples’ homes being demolished because they weren’t built with the proper planning licenses. But if the buyer researches his or her purchase and uses a Spanish property expert to investigate the property deeds and planning regulations, it’s no riskier to buy a home in Spain than it is to purchase in the United States or United Kingdom. A select number of Spanish Mortgage brokers are able to check issues for you prior to providing a mortgage for the property that you selected. Marbella based Spanish Mortgage brokers International Mortgage Solutions is a good example of organization that checks the regulations of deeds and planning of any property to guarantee that you buy what you think you are.
You’ll find many different kinds of properties available for purchase throughout the country. Spanish rural living ranges from contemporary properties with the latest features to secluded ruins without water or electricity. After arranging for financing, the next thing to do is to see what homes are available in the neighbourhoods where you’d like to move. One should weigh several things before proceeding. A country home could be anything that is separated from amenities and community, but it could also be a property that is positioned in a tiny town or village.
The availability of purchase is determined by where you want to live. How old as well as the condition of the house is a very important thing to consider, as it is going to change how much extra you will spend over the price you pay for it. When you purchase an older home you will have to do a lot of repairs and there is more work than when you buy a newer home.

First of all, if you decide to work with a real estate agent, expect to be asked a lot of questions.

What areas are you looking in?

If you’re planning on living with roommates, do you know who they are?

And have you all agreed on what you are looking for in an apartment?

How many bedrooms do you need?

What is your price range?

What are you looking for in an apartment?

Do you have any pets?

Do you have a car and will you need off street parking?

Will you need to be close to public transportation?

If you’re a student or have credit problems expect to get someone to co-sign for you.

Once you have all the answers to these questions straightened out, it’s time to start your hunt. The rental market in the Boston area is very seasonal and competitive. If you’re looking to move in the summer, so is everyone else (September first being the busiest move in day). You can expect apartments to turn over very quickly, so the most important thing you can do is be prepared to act once you find the right place.

If you have roommates, go look at apartments together, too many people miss out on great apartments because they are busy scheduling a second showing for their roommates while the apartment is getting rented by someone else. Be sure to bring your checkbook, and be prepared to make a deposit of one months rent.

Once you’ve found the right place, you’ll need that one months rent to take the apartment off the market. Then expect everyone to have to fill out an application. Don’t be afraid to negotiate the price or terms!!! If you have good credit, a good job, and good previous landlord references, you are a better candidate than most, landlords will reduce the rent or be more likely to pay a brokers fee for good tenants. Once the applications are done, the landlord or agent will most likely run a credit check, employment verification, and a previous landlord reference for every applicant.

Assuming that everything checks out ok, and the landlord accepts you as a tenant, you can expect to have to pay more deposits upon lease signing. Most landlords in Boston require First months rent, last months rent, and a security deposit (all of which are one months rent each). Keep in mind, that initial deposit of one months rent can be used for any of the required deposits. If you work with a real estate agent, expect there to be a brokers fee of one months rent as well, if the landlord is not paying it, you will have to. Real estate agents are required by law to tell you if the landlord is paying the fee or not before they show you the apartment.

Finally comes the lease signing. READ THE LEASE, it is a legally binding document that you are going to sign, make sure you agree with everything before you sign it. Most landlords use a RHA lease (Rental Housing Association), these are standard. Any changes that are made will stand out like a sore thumb. If your lease is not a RHA lease, you might want to scrutinize it extra closely.

Jon Ernest is the Principle Broker of Spotlight Realty. A small, independently owned, full service residential real estate agency in Brookline, Massachusetts.

http://www.SpotlightRE.com
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Brookline Apartments

The Property Index site has a vast range of property for sale in Spain, view the range online.

In spite of the fact that Property Index is generally viewed as a pretty young syndicate, they were registered only in March 2007, they have swiftly achieved expert status. In actuality they are a incredibly hassle free syndicate exclusively focused on offering their expert guidance to every visitor determined to sell, buy, rent or let real estate just about anywhere. Their agreement: to be of help to you to find squarely what’s looked for swiftly and, furthermore, sans hassle. Land is available in a wide selection of areas across the globe at the moment, unquestionably the high-class area being property for sale in Spain. It’s easy as falling off a log to chart the great real property you can purchase in Spain, the motivation for investigating land here is a combination of the houses and apartments for sale and the chance of spending your life surrounded by such a passionate population.

This is one of the truly popular markets at the moment, and considering the scenic splendor and sunshine surrounding you here, how could you go wrong! Land in Spain is immersed in culture, art and history, this country has been and still is home to a number of nations. Around one generation ago you’d find just a small number of English people looking for real property in Spain. Ask just about anyone who has chosen to remove to Spain and they are certain to back it up. There’s many people who would will see it as a basically irrelevant fad and others will see it as a that’s quite a compulsion! People who are looking to repair here generally range from young urban professionals who are looking for a challenge to retired patrons who want to relax and enjoy themselves.

Do bear in mind, however, that there might be bugbears when purchasing real property in a foreign country: you’ll find there are a million varied, sometimes conflicting, actions whether strategizing, visiting or purchasing. Even if one single step is missed this will provoke large bugbears and, most importantly, monetary loss. Obviously and expectably with this trendy region, real property might be rather high-priced in this destination and this, of course, is simply caused by the high buyer demand. Despite this customers actually are spoilt for choice in such a region so full of golden countryside and vista. Truly it’s got the whole kit and caboodle a buyer may imagine, and then some.

People have different motives for buying real estate. Some want a home, some want to invest. The bottom line for everyone is to make money at some point in a real estate deal. Things like equity, appreciation and all the benefits of home ownership are important. But, the most important is EQUITY and the ability to convert that equity to cash when needed. So, how does a person develop a lot of equity instantly? By being a smart businessperson. Boil all the junk out of real estate and you will find that buying any real estate is a BUSINESS DEAL. You either make good business decisions or poor ones. You either win or you lose. You either make money or you lose money. The name of the game is buy low, sell high. That’s the bottom-line right? Want instant equity? Here’s one strategic approach:

1. Get you financing together and know exactly how much you can borrow for a home loan.

2. Write all your offers on properties for fifty percent (50%) of the asking price.

It is critical that you have gotten your financing together and are ready to go. When you write your offer, have a “this offer automatically expires within 24 hours” clause on your offer above your signature.

Agents MUST deliver all offers to the seller of a property. They have a legal duty to deliver the offer to the seller no matter how much the offer may be. They may act insulted, shocked, appalled, nevertheless they have to give the offer to the seller. This will result in two possible outcomes:

1. The Seller rejects the offer.

2. The seller accepts the offer.

If you are looking at a $100,000.00 home and you write the offer for 50% or $50,000.00 and the seller accepts–you just made $50,000.00 instant equity!

Why this can work: You don’t know what is going on behind the scene with the sellers. Agents aren’t going to tell you if the seller is weak. There are a number of reasons why a seller will “dump a property” for example 1. Tax problems. 2. Job loss 3. Inherited property, which they don’t want or is to far away to maintain. Many times when a person is about ready to get foreclosed on, they will list the property with a real estate company for sale to prevent the lender from evicting them and seizing the property. Lenders are not property managers and this is a stalling tactic by those under economic duress.

Remember: Real estate agents are on mission-commission. They want to sell the property for as much as they can. The higher the selling price the higher the commission. This concept will result with your offers being rejected by sellers far more then accepted. In fact, you might write 50-100 offers before it works for you. Business is business. However, if you can make an instant $50,000.00 on a deal with this strategy, it’s worth a few red faces! Better to try and fail then fail to try!

This is (one tip) out of (101 tips) in our free EBook: 101 Tips Real Estate Agents Won’t Tell Home Buyers Or Sellers–Click the link below, go to the freebie section to get your Ebook. This offer is an Ezine Article exclusive.

Copyright © 2006
James W. Hart, IV
All Rights reserved

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Modular homes are built off-site in a manufacturing facility and later delivered to their target destination, where they are assembled and crane-set into the desired location.

Modular homes are different in many ways from site-built houses. Firstly, they are literally manufactured in an off-site facility. This helps in maintaining high quality by way of highly specialized skilled labor and stringent adherence to quality standards. Also, the manufacturing is indoors, so the units are safe from weather and vandalism. Site-built houses are often delayed due to inclement weather.

Manufacturers also are able to cut costs on raw materials, as supply companies are willing to supply commodities in bulk at a lower price. Modular homes are thus built in a cost-efficient and quality-controlled environment. They are constructed in about half the time of the average site-built house, which means lower loan costs. Faster construction process allows developers a faster return on their investment.

Market trends reveal that modular homes cost twenty- to forty-percent less than site-built houses. But it is unwise to expect that prices of modular homes are a fraction of the cost of other homes. There are reasonable cost savings: they are mostly in labor and materials. Also, despite common misconceptions, there are now many financial institutions ready to give loans for modular homes. Modular houses cost midway between mobile homes (lowest) and site-built homes (highest).

Manufacturers of modular homes also promise quality at low cost. They have a purchase department to source all their raw materials and fittings. They can guarantee the use of brand name products.

Modular homes qualify for loans of lowest rates and best terms. Upon resale there is no requirement for a disclosure of where and how the house was built. Today’s modular homes cover the entire spectrum of the housing market, from affordable, single-family homes to luxury log homes.

Modular Homes provides detailed information about modular homes, modular home builders, modular home loans and more. Modular Homes is affiliated with Storage Sheds.

As the American population ages, this group’s housing needs have been addressed in recent years with the development of a number of senior communities in Miami, and across the country. These communities are designed to cater to the needs of senior citizens, and the level of assistance varies depending on the health of the resident and the style of life he or she wishes to maintain. Age requirements for Miami’s communities often necessitate that the resident be 55 or older, while some set the age requirement at 62. This depends on the founding rules and regulations of the community. Some are hospital-based, with doctors in the building with the residents, while others allow more independent living, where the residents have their own homes and live independently of any other people. This type of housing offers a communal atmosphere for those who wish to live independently but still have a sense of security knowing that help is just around the corner should they need it.

The type of community a senior wishes to live in depends mainly on the health and level of activity he or she maintains. There are senior communities for all lifestyles, including those who maintain active, athletic activities, enjoy golf or RVs, or those who need more assistance or nursing care. Seniors-only apartment are available in many areas; these apartments have the same age requirements as a housing community would. There are even senior rental properties available for those who wish to vacation in a senior-friendly atmosphere, and some housing communities allow future residents to visit for an extended period of time to see if the particular community suits them.

Senior communities in Miami not only offer seniors an opportunity to be surrounded by their peers; there are also many amenities that serve the residents’ needs. Many communities have 24-hour security services, ensuring safety of their residents. In most senior-oriented communities, there is at least one doctor or nurse on call or on site at all times in case of a medical emergency. Most community plans take care of utilities such as electricity, garbage pickup, water, yard and garden maintenance, and other services. Some may even offer laundry and housecleaning services either included in the housing payments or for an additional fee. Assisted living or nursing care facilities have meal service as well, while those who live in more independent communities prepare their own meals in their own private homes.

As with any community housing development, senior communities in Miami often have rules and regulations regarding what you can do with your home and property once you decide to reside there. Be sure you are aware of any such restrictions before making a decision to buy or rent a home in one of these developments. Otherwise, living in one of these communities can be much like living in a private home but with the closeness and camaraderie of your community peers and the added convenience of included amenities. Explore all your options, and you are sure to find the retirement home or community that best fits your health and lifestyle needs.

Inside Miami Real Estate is a network entirely devoted to real estate information. The entire Inside Real Estate network has more than 100,000 pages of real estate for cities allover the United States. Inside Real Estate covers several topics from the basic “how to’s” of real estate to city-specific real estate information.

Property markets around the world are seeing prices either slow or fall. Real estate in the USA has already fallen badly, and set off panic across global investment markets around the world. However, there still remain plenty of opportunities for the discerning property investor when investing in overseas property, but the keys to success don’t involve having lots of cash as much as doing proper research. To start with, when investing in property, keep a good eye on property news to get an idea of general trends. However, be warned that general trends are created from the assimilation of lots of micro trends - property types, and local variations in the property market. Therefore once you’ve identified what sort of property investment you are looking for - and where - you need to ensure you focus on studying your target market carefully. That’s the easy part. The long drawn out part occurs when you finally look to purchase a property. If you already own a home and are looking to move overseas, then you obviously may want to look at selling your house quickly. Luckily, there are various groups who sell house and home quickly. Once that’s cleared and opened your funds for the purchase of your overseas property. This is important, as regardless of the asking price, you still have a whole load of costs to take into account afterwards. This includes various sales taxes, commissions, and legal fees. However, don’t forget the cost of moving abroad as well - and that means travel costs not simply for yourself and your family, but also for your possessions, too. However, if you plan everything properly and meticulously, and look to your property investment for the long term, then you should hopefully be able to make a success of your property investment.

You need to use more than a mortgage calculator to find out which is the best plan for your needs. Here you have a quick guide to help you decide on the best plan for you.

The Different Types Of Mortgage Loan Options

So you have decided to purchase your own home and you need to find out which type of home loan is the best for you. There are basically three main types of mortgage loans available so let us have a look at them and try to find one that will best suit your requirements.

1. The Fixed Mortgage Loan.

30 year fixed rate: this loan is probably the most popular type of arrangement because it provides for low monthly repayments and is usually chosen by people who will stay in their home for a long time. One of the advantages is that you will have more money in your pocket each month. A disadvantage is that you will pay more for the loan in the end compared to shorter type loans.

15 year fixed rate: this loan allows you to pay your mortgage off in 15 years. You will save money in the long run. An advantage of this type of loan is that you pay half the interest of a 30 year loan. A disadvantage is that you will have to pay higher monthly repayments during the term of your loan.

Biweekly loan: this type of loan is generally done on a 30 year fixed rate plan. By paying every fortnight though, you pay extra payments every year and you generally find that you will pay off your loan in about 23 years. This loan also builds your equity in your home much faster. An advantage is that you pay your home off faster and you pay less interest. A disadvantage is that you have to pay every two weeks.

An Adjustable rate mortgage or (ARM): this loan is good because of the way in which it works on interest rates and they generally are lower at the start than a fixed rate home loan. This means you will pay less each month but you have to consider the disadvantage of paying higher interest if the rates go up.

An obvious advantage is that when the interest rate drops so do your repayments. Alternatively, a disadvantage is that if the interest rate rises so do your repayments.

2. Convertible loans:

Included in these options are Hybrid and convertible ARM type loans. One is an ARM that lets you convert to a fixed rate or a fixed rate home loan that you can covert to an ARM. This means that you have the option to change your mortgage loan after a few years if you wish. An advantage is having the ability to change between ARM and fixed rate. A disadvantage being that if interest rates are high you might not wish to convert.

Interest Only Loan: this type of loan is beneficial for those who work on commission or can get big bonuses so they only pay the interest on their loan and when they get their bulk income they can put it towards paying off the actual loan. An advantage is that you are able to secure a bigger loan amount. A disadvantage being that you have to pay in lump sums and when you only pay the interest then you are not paying anything off on your house loan.

Balloon loan: this type is a fixed rate loan with small monthly repayments that generally last about 7 years. Then you must pay the loan in one big lump sum or have the option to be able to refinance. An advantage for people who will want to sell their house before the balloon payment is due and also low interest rates. A disadvantage being that you have to pay a lump sum at the end of the loan term or refinance at usually a higher interest rate.

Reserve mortgage loan: this type of loan is ideal for equity rich seniors. It requires no monthly repayments. An advantage is that you will have more money in your pocket. A disadvantage is that the loan needs to pay if you sell your house and reduces equity for inheritors.

Buy down mortgage loan: there are two types involved here, a temporary and a permanent loan. They both work on points and lower interest rates. An advantage is lower repayments. A disadvantage is that you need to pay a higher down payment to lower interest rates.

3. The Special Mortgage:

FHA mortgage: for first time home buyers, people who have only a little down payment and credit problems. An advantage being a low down payment and repayments. A disadvantage is the cap on the loan and limited mortgage options.

Veteran Affairs Loan: this is only for people and widowers of the armed forces. An advantage is that there is no down payment necessary. A disadvantage is that it is not available for everyone and usually takes longer.

So, there are many types of loans available to you when you want to buy your own home. To find out which one will the most beneficial for your needs is to consult a financial professional and they will go through them with you one by one.

Mortgage Loans Explained
Student Loans Home Equity Loans Bad Credit Loans
All Loan Types Explained

Mortgage Loans Explained