There are certain factors which need to be considered when buying land. In this article, we discuss the purchase of land for profit.
The first thing to consider when buying land is its location. There is a great difference in the price of land depending on whether it is located in an urban area or the countryside. It may often be difficult to obtain planning permission to build houses on land in the country, especially if the land is green belt. Thus, it may be possible to buy land cheaper in the country. This could primarily be due to supply and demand - fewer potential buyers available. A thorough appraisal of any land, especially its location should therefore be conducted prior to parting with any cash.
The surrounding environment must also be taken into consideration. Smell and ambient sounds play important factors in determining the feasibility of the land for further development. It is not expected that people will trade odors of fumes in urban areas to the agricultural smell of pig dens!
It is also important to identify any zoning issues which could affect the land you are considering to purchase. Certain greenbelt land cannot be zoned and sold as development land. As an investor, you need to be aware of this and ensure you do not buy land that is protected under this scheme.
The geodetic structure should also be identified. This is also necessary to minimize the damage that might result from hazards affecting more particularly the soil. Soil component structure will reveal important information that will determine the feasibility of further development.
Access to the land by way of existing routes and roads is of paramount consideration. Land with good access routes is more likely to achieve planning permission for new build properties than land that is in the middle of nowhere.
Services such as water supply and electricity are also important points that need to be considered when purchasing land. The state of these services must be studied in order to determine if development of the land is likely to be possible.
When buying land, you can either purchase plots with planning permission approved or use a long term approach of buying land with no planning permission in the hope of obtaining it further down the line. Obviously the latter option will provide greater returns associated with the greater risk levels.
To reduce your risk, it may be advisable to purchase an option to buy that land at a prescribed price for say within 2 years. The 2 years should be enough for you to determine whether or not you are likely to obtain planning permission. If planning permission is likely to be granted, you purchase the land. Otherwise, you don't go ahead with the purchase. This way, you only set to lose the option fee and not the entire purchase price of that land.
Dr Javaid Kiyani is a successful Property Investor and Internet Marketer. He has an MBA from Cranfield Business School and PhD from the University of Birmingham. Formerly a Chartered Engineer and Management Consultant, he has 10 years experience of property. His knowledge of property investment is vast as evidenced by the books he has written. Dr Kiyani believes in helping others achieve their dreams too by personally training them through his property mentorship programme.
For your FREE course on how to become ASSET and CASHFLOW Rich from a steady stream of passive income, please visit http://www.hmopropertyriches.com/ NOW, for a limited time only.
Article Source: http://EzineArticles.com/?expert=Javaid_Kiyani
Wednesday, June 18, 2008
Real Estate Marketing Strategies - The Top 10 Self Limiting Beliefs
Did you know the # 1 reason why most people fail to reach their goals? Is it the lack of skill, lack of intelligence, or lack of motivation?
The answer is, "None of the above." Rather, it is the presence of self limiting beliefs.
Having been a business coach for the past 12 years, I've noticed that everyone has an abundance of self limiting beliefs. Sometimes these lie dormant for years, but when you are building a business, they often stop you dead in your tracks.
I've noticed that there are categories in which most people have self limiting beliefs:
Beliefs about themselves
Beliefs about money
Beliefs about work
Let's take these categories one at a time and discover the self limiting beliefs that live within each one of us.
Beliefs about yourself
Do any of these sound familiar?
"I'm not educated enough"
"I'm not good enough"
"It's selfish for me to want more"
Beliefs about work
"Work needs to be hard"
"Work requires struggle and sacrifice"
"To be successful I have to give up my personal life"
Beliefs about money
"There is never enough money"
"Nice people don't have money"
"People who have money are cut-throat"
"Money will create a problem in my relationships"
If you recognize any of these self limiting beliefs in yourself, keep in mind that:
It doesn't help to judge yourself for these beliefs, so be compassionate with yourself.
These beliefs are not facts, just beliefs.
These beliefs can be changed, you're not stuck with them.
At this point, you're probably wondering, "How do I get rid of these beliefs?"
Step 1
Make a T diagram by drawing a horizontal line on your paper and a vertical line. This will create two columns. Label the heading of the left-hand column, "self limiting beliefs". Then label the right-hand column, "empowered beliefs".
After you've written down all of your self limiting beliefs in your left-hand column, find the belief that would cancel out the old belief. Then write that in your right-hand column.
For example, if your self limiting belief about yourself is, "I don't have what it takes to succeed", then cancel that out by writing the opposite of that statement in your right-hand column, such as," I have more than I need to succeed."
Step 2
Make a list of your inner and outer resources. At the top of the page write, "I have all I need to succeed." Then began to write down all of your inner resources, such as intelligence, determination, people skills and so forth.
Next, determine your outer resources, such as: a supportive office, a supportive spouse, years of experience, and excellent mentor and so forth.
Step 3
Become highly aware of your thoughts and feelings. If you're feeling anything less than wonderful, then you're probably focusing on what you don't want, rather than what you do want. When you notice that, ask yourself, "So...what do I want?"
Step 4
Once you are aware of what you want, begin to visualize it and feel what it feels like to have it. For example, if you want to make $400,000 a year , work 30 hours or less a week and take several vacations within the next 12 months, visualize that. Close your eyes and capture the feeling.
Take a few moments each day to be in that feeling. Be sure to bring all of your senses into it.
For example, if you visualize yourself vacationing in Hawaii, then feel the balmy ocean air, the feeling of the sand beneath you, the warmth of the sun on your body and so forth. I'm sure you get the idea.
Step 5
If any self limiting belief opposes your intention to make $400,000 a year, work 30 hours a week or less, and have several vacations within the next 12 months, become a "loving detective" in yourself and find out what self limiting belief is opposing that.
In other words what is your counter intention? For most people, it is the belief, "I'm not worthy of abundance."
Ask your old belief this question, "What are you trying to do for me, by having me hold on to the belief that I'm not worthy of abundance?"
Most of the time, the answer will be, "I'm trying to keep you safe."
When I coach my clients, I help them to see the origin of that belief so they are able to realize the connection in their subconscious mind between perceived "safety" and stopping themselves from abundance.
Usually what we discover is that this belief was installed as a survival strategy in childhood. Once the awareness of that is available, we can reprogram or release that self limiting belief. I have my clients thank that self limiting belief for trying to be of service, and then release it to its highest good.
If you have been feeling stuck and unable to reach your goals, I would highly recommend that you practice the five steps shown above. Once you've released your self limiting beliefs, you will have unleashed your "unstoppable energy." Success is created from the inside out. By doing this inner work, you are building a solid blueprint for success within yourself.
About the author: for more information on powerful marketing tips and tools, please visit Dr. Maya's website: http://www.90daystomoreclients.com while you are there, get your Free Audio mentoring session and Free Report, "7 simple strategies to more clients in 90 days" or call Dr.
Maya at 707 799-5412.
Article Source: http://EzineArticles.com/?expert=Maya_Bailey,_Ph.D.
Country Homes - Considerations When Buying
Having a place in the country is a dream that many of us have. Getting away from the pollution and speedy lifestyle of city life is very appealing. What are some of the potential pitfalls of making this move? Here are some things to consider:
What kind of access is there to the property? Do you and your visitors have to drive down a long dirt road? If so, are you OK with that? Will your vehicles be able to handle the roads or will you have to purchase different ones. Access is important as well if you need to hire people to come and make repairs on the house or appliances.
What is the water supply like? Some country homes have access to city water; the plumbing is already in, so no worries. Other homes have wells to supply water. You will want a home inspector who can check on the condition of the well. A worst case scenario could be that you may have to haul water from a community well situation or dig your own well. If you plan on digging your own well, make sure you budget enough money for that, as some wells can be quite expensive.
Sewage disposal is another concern. Most country homes depend on septic tanks, although some are close enough to tap into city sewage systems. Again, having a home inspector that check on the septic system can be important, Replacing a septic system can be quite costly.
Is there power and telephone in the area? Some country homes are pretty far off the grid. If you want power, factor in the cost of having the wires run to your new home. Some country homeowners rely on solar and propane-powered generators for their electricity. You must decide what will work for you.
Finally, make sure that the property boundaries are clearly marked. Often, boundaries in the country can be a little hazy. People can assume that a boundary is in a certain place because of historical land use by the community, when in reality the boundaries are different.
As long as you consider all these aspects and are clear on what you are getting into, you should truly enjoy your new country home.
Look at Ramona Country Homes for Sale in San Diego, CA
Article Source: http://EzineArticles.com/?expert=Karen_Bellas
What kind of access is there to the property? Do you and your visitors have to drive down a long dirt road? If so, are you OK with that? Will your vehicles be able to handle the roads or will you have to purchase different ones. Access is important as well if you need to hire people to come and make repairs on the house or appliances.
What is the water supply like? Some country homes have access to city water; the plumbing is already in, so no worries. Other homes have wells to supply water. You will want a home inspector who can check on the condition of the well. A worst case scenario could be that you may have to haul water from a community well situation or dig your own well. If you plan on digging your own well, make sure you budget enough money for that, as some wells can be quite expensive.
Sewage disposal is another concern. Most country homes depend on septic tanks, although some are close enough to tap into city sewage systems. Again, having a home inspector that check on the septic system can be important, Replacing a septic system can be quite costly.
Is there power and telephone in the area? Some country homes are pretty far off the grid. If you want power, factor in the cost of having the wires run to your new home. Some country homeowners rely on solar and propane-powered generators for their electricity. You must decide what will work for you.
Finally, make sure that the property boundaries are clearly marked. Often, boundaries in the country can be a little hazy. People can assume that a boundary is in a certain place because of historical land use by the community, when in reality the boundaries are different.
As long as you consider all these aspects and are clear on what you are getting into, you should truly enjoy your new country home.
Look at Ramona Country Homes for Sale in San Diego, CA
Article Source: http://EzineArticles.com/?expert=Karen_Bellas
Foreclosure Advice
Let's get one thing straight right now. Foreclosure is the most damaging thing to have on your credit report. It will completely annihilate your credit options for years to come. Even with aggressive credit repair strategies you will be suffering severe credit damage for seven years or more after a foreclosure. Foreclosure is even worse than bankruptcy on your credit history. Foreclosure is to be avoided at all costs. Do everything within your power to keep a foreclosure off your credit report.
Banks really do not want to take homes back. Banks are not in the real estate business. They are in the money lending business. An empty house, sitting on their books hurts their business. No one is paying them any money for that empty house. It in fact, costs them a lot of money in many, many ways. The bank must spend money on attorney's fees, real estate agents fees, appraisers costs, rehabbing expenses, taxes, insurance, and even bare necessity utilities to keep frozen pipes from bursting and lawns from dying etc.
In addition to all these costs associated with holding an empty house on their books, the Federal Reserve will punish the bank as well. Banks must report to the fed on how many REO's (real estate owned properties) or bank owned properties they own. The more they have on their books, the harsher the fed's enforced restrictions on the banks ability to do business will become. The first step the Fed will take to encourage a bank to reduce the amount of REO's on their books is to make the bank pay a higher rate of interest on the money that they borrow to lend to their customers. This makes it difficult if not impossible for the bank to compete effectively with other lenders who don't have to pay that higher rate for their money.
Next, if the bank does not reduce the number of bank owned properties it has, the fed will restrict the bank from making any new loans. Loaning money is the financial life blood of the bank. Banks will do almost anything to avoid that kind of sanction. With the number of foreclosures in process today, being among the highest in history, the pressure is on the banks to find other solutions to this problem than just "taking the house back".
Each lender has their own terminology for these alternate options to foreclosure. Some call them work out programs. Some call them forbearance plans. Still others call them special payment options. There are many other names, but whatever they call these plans, they are worth looking into. Find out what is required to qualify for one of these plans, and if you can swing it. If it works for you, and keeps you in your home, that is terrific.
Most of these plans require you to come current on your loan before they are offered. If you are already late a payment or two this may make it difficult or impossible to qualify. But, like I said before, the pressure is on the bank. High REO counts hurt them, where it really makes an impact. This has necessitated the loosening or lowering qualification standards of many of these programs. So find out what your lender is offering, it is more than worth the effort. Second mortgages are more apt to cut you a favorable deal because their secured position almost always disappears at auction.
The only lien holders whose attachments carry through the sale of the home at the trustee's sale or foreclosure auction are the IRS, first mortgage, and property taxes. The money owed to the second mortgage will undoubtedly loose the security of being tied to the value of the home, when it is either sold at auction or "taken back" by the bank. They are there fore far more willing to protect that secured position by helping the home owner avoid the sale of the home.
If the savings you can obtain by working with your second mortgage is enough to make your financial ends meet, then this is a great opportunity to save your home and avoid foreclosure. Get on the phone with your second mortgage. Explain your situation, cut what deal you can.
Good luck to you. This has helped a lot of people stay in their home.
Integrity 1st Consulting is your Foreclosure specialist- Kathy Swift
Article Source: http://EzineArticles.com/?expert=Kathy_Swift
Banks really do not want to take homes back. Banks are not in the real estate business. They are in the money lending business. An empty house, sitting on their books hurts their business. No one is paying them any money for that empty house. It in fact, costs them a lot of money in many, many ways. The bank must spend money on attorney's fees, real estate agents fees, appraisers costs, rehabbing expenses, taxes, insurance, and even bare necessity utilities to keep frozen pipes from bursting and lawns from dying etc.
In addition to all these costs associated with holding an empty house on their books, the Federal Reserve will punish the bank as well. Banks must report to the fed on how many REO's (real estate owned properties) or bank owned properties they own. The more they have on their books, the harsher the fed's enforced restrictions on the banks ability to do business will become. The first step the Fed will take to encourage a bank to reduce the amount of REO's on their books is to make the bank pay a higher rate of interest on the money that they borrow to lend to their customers. This makes it difficult if not impossible for the bank to compete effectively with other lenders who don't have to pay that higher rate for their money.
Next, if the bank does not reduce the number of bank owned properties it has, the fed will restrict the bank from making any new loans. Loaning money is the financial life blood of the bank. Banks will do almost anything to avoid that kind of sanction. With the number of foreclosures in process today, being among the highest in history, the pressure is on the banks to find other solutions to this problem than just "taking the house back".
Each lender has their own terminology for these alternate options to foreclosure. Some call them work out programs. Some call them forbearance plans. Still others call them special payment options. There are many other names, but whatever they call these plans, they are worth looking into. Find out what is required to qualify for one of these plans, and if you can swing it. If it works for you, and keeps you in your home, that is terrific.
Most of these plans require you to come current on your loan before they are offered. If you are already late a payment or two this may make it difficult or impossible to qualify. But, like I said before, the pressure is on the bank. High REO counts hurt them, where it really makes an impact. This has necessitated the loosening or lowering qualification standards of many of these programs. So find out what your lender is offering, it is more than worth the effort. Second mortgages are more apt to cut you a favorable deal because their secured position almost always disappears at auction.
The only lien holders whose attachments carry through the sale of the home at the trustee's sale or foreclosure auction are the IRS, first mortgage, and property taxes. The money owed to the second mortgage will undoubtedly loose the security of being tied to the value of the home, when it is either sold at auction or "taken back" by the bank. They are there fore far more willing to protect that secured position by helping the home owner avoid the sale of the home.
If the savings you can obtain by working with your second mortgage is enough to make your financial ends meet, then this is a great opportunity to save your home and avoid foreclosure. Get on the phone with your second mortgage. Explain your situation, cut what deal you can.
Good luck to you. This has helped a lot of people stay in their home.
Integrity 1st Consulting is your Foreclosure specialist- Kathy Swift
Article Source: http://EzineArticles.com/?expert=Kathy_Swift
Basics of Real Estate Investments
Investing in real estate can be two-fold. One you can purchase property and move in to that place. Or you can buy it and then sell it immediately.
One of the surest ways to invest is to buy a wholesale property and make sure that it is of the right location so that its value will be ideal for you to make a profit. You can also find a property with a good cash flow to ensure that you will profit from the said property.
Positive cash flow is defined as the amount remaining after all expenses related to the real estate property has been deducted. These expenses may comprise of items like taxes, mortgage payment, and operating costs. Positive cash flow is dependent on three different aspects such as the amount of the mortgage payment, operating expenses of the property, and the rent being charged.
For you to get substantial profits from investing in real estate, you should analyze the said aspects. One of the easy ways you can gain a positive cash flow is to get a cheap down payment on a property, and a low interest, long-term mortgage. Usually if you get a low mortgage payment you will gain higher cash flow.
For example if you purchase a $125,000, 4-story apartment and have it rented for $600 a month, you will get $2400 a month. If the mortgage payment is less than $625, with operating expenses at $300, you would gain positive cash flow amounting to $1,475. But if the mortgage rises to $925 monthly your positive cash flow drops to $1,175 monthly. Thus you should get low payments as much as possible and keep the operating costs at a minimum.
Yet another method to gain positive cash flow is by availing of an interest-only loan, mainly because this is for the short term, normally from 5 to 10 years, and you would only have to pay for the interest. Once the loan period lapses you have to sell the property or even refinance the property. The problem is that this loan usually has high payment terms. By getting positive cash flow from this investment property you can then utilize it in getting more investment properties.
Keep in mind that if you want to generate income through real estate investments, you need to have a positive cash flow by keeping your operating expenses, rental, and mortgage payments low.
Article Source - http://openarticlesubmission.comThe Author runs a weekly column about Real Estate in Texas.
Article Source: http://EzineArticles.com/?expert=Uttoran_Sen
One of the surest ways to invest is to buy a wholesale property and make sure that it is of the right location so that its value will be ideal for you to make a profit. You can also find a property with a good cash flow to ensure that you will profit from the said property.
Positive cash flow is defined as the amount remaining after all expenses related to the real estate property has been deducted. These expenses may comprise of items like taxes, mortgage payment, and operating costs. Positive cash flow is dependent on three different aspects such as the amount of the mortgage payment, operating expenses of the property, and the rent being charged.
For you to get substantial profits from investing in real estate, you should analyze the said aspects. One of the easy ways you can gain a positive cash flow is to get a cheap down payment on a property, and a low interest, long-term mortgage. Usually if you get a low mortgage payment you will gain higher cash flow.
For example if you purchase a $125,000, 4-story apartment and have it rented for $600 a month, you will get $2400 a month. If the mortgage payment is less than $625, with operating expenses at $300, you would gain positive cash flow amounting to $1,475. But if the mortgage rises to $925 monthly your positive cash flow drops to $1,175 monthly. Thus you should get low payments as much as possible and keep the operating costs at a minimum.
Yet another method to gain positive cash flow is by availing of an interest-only loan, mainly because this is for the short term, normally from 5 to 10 years, and you would only have to pay for the interest. Once the loan period lapses you have to sell the property or even refinance the property. The problem is that this loan usually has high payment terms. By getting positive cash flow from this investment property you can then utilize it in getting more investment properties.
Keep in mind that if you want to generate income through real estate investments, you need to have a positive cash flow by keeping your operating expenses, rental, and mortgage payments low.
Article Source - http://openarticlesubmission.comThe Author runs a weekly column about Real Estate in Texas.
Article Source: http://EzineArticles.com/?expert=Uttoran_Sen
Subscribe to:
Posts (Atom)