Archive for the ‘Building’ Category

Florida Investment Property – Why Investing is a Wise Decision
There are many reasons to purchase investment property in Florida, the foremost being value appreciation. Property values generally rise while debt decreases; making real estate purchases a good investment. Every year since 1968, the national median home price has risen. Usually, home values increase at around the rate of inflation, with a greater increase possible. In recent years, median prices have increased by as much as 9 percent, making purchasing investment property in Florida a wise long term investment. Building equity is an excellent reason to purchase investment property in Florida. Equity grows over time for owners while renters don’t see any return on their money. Purchasing property forces you to save, making you a wise investor without realizing it. Owning investment property in one Florida location may make it possible for you to expand, purchasing a second and third property as rental profits increase. Owning investment property in Florida gives you borrowing power, the ability to use your property equity to borrow funds for your own use, or for further investment. Owning investment property in Florida gives you a sense of stability, not only for the consistent rental income, but for the potential of it becoming a regular seasonal vacation home for your family. Imagine the pleasure and ease of knowing where you are going to vacation, there’s no need to decide on location and try to compete to make reservations, with prices changing every year. There is stability on owning an investment property in Florida that can also be used as a family vacation resort.

Why the Interest in Florida Investment Property?

Considering the myriad of investment property locations on the market, Florida investment property is one of the most desirable. Home to 11 of the country’s 100 fastest-growing counties, a Florida investment property has high potential as a profit-maker, unlike most other areas. Port St. Lucie, Miramar and Cape Coral are the fastest growing cities in Florida. It’s unlikely you will make a mistake investing in Florida real estate considering the vast number of tourists and new residents flocking to the land of sun and surf. The most difficult decision to make will be which location in Florida to purchase. Good investments abound in each area of the state, from Miami in the south to Clearwater on the gulf coast, going east to Daytona Beach and north to the panhandle. Selecting a location depends on your goals for purchasing Florida investment property. Carefully consider what you intend to do with your Florida investment property. Will your purchase be used mainly as a rental property for vacationers? Do you intend to have access to the property during certain seasons? Or is your goal rental of the property to local tenants? Some of these questions will help you in narrowing down your search. Once you have determined whether your Florida investment property will be used primarily for vacationers or for local renters, and whether you intend on using it as a vacation resort yourself, it is easier to choose the location.

Florida Investment Property Locations

There are so many location options of investment property in Florida, making it difficult to select just the right location. Let’s start from the top! Do you desire a beachfront location, or one close to the coast, or would you rather select property in a town setting. Tourist area or settled community, inland or beachside? Asking these questions helps you narrow down your search. Each area where an investment property in Florida is located has its own flavor, its own attractions. Let’s start with the Miami area. Miami is located in the southeastern corner of Florida and Miami Beach is a seven mile long island known as America’s Riviera. Home appreciation rate in the Miami area is about 11% with the median home price around $240,000. There are diverse offerings of single family homes, ocean front property and ocean view condominiums. Of course condo and home prices are offered in a vast range, with upscale areas bringing in up to $5 million. Condos and town homes may be cheaper, depending on location, but with price escalation and population density, even there it may be hard to find a bargain. Miami offers beautiful beaches with perennial sunshine but traffic congestion and the increasing population boom may be a deterrent to some. Just forty miles north of Miami, lies Boca Raton with five miles of coastline and gorgeous beaches. Appreciation rate here is around 11%. Clearwater, on the west coast of Florida borders Clearwater Harbor and the Gulf of Mexico. Indian Shores is a small historic community offering condos, gulf front property and Intracoastal Waterway homes and town homes. The appreciation rate for investment property in Florida, Clearwater is about 9%.

Investment Property in Florida – Daytona Beach, Jacksonville and Destin
Moving north in our search for investment property in Florida, let’s take a look at the Daytona Beach area. Daytona is known as a spring break and family playground on Florida’s east coast about 50 miles northeast of Orlando. Homes prices are surprisingly reasonable here in comparison with other popular Florida beach locations. Appreciation is about 10% with homes starting as low as $80,000. A large variety of housing choices exist, everything from inland or waterfront property, to townhouses and single family homes, ocean front or inland. Older homes abound but there are also several new upscale building projects. Let’s take a look further north at Jacksonville. Jacksonville is known as Florida’s River City due to the ever-present St. John’s River which flows through the city, ponds and lakes. A modestly priced investment property in Florida can be found here with a range from $60,000 to several million. Appreciation is around 9% with continual growing home construction. Unique to Jacksonville is its diverse neighborhoods and building styles. Destin is located in the Emerald Coast of Florida, sitting on the Gulf of Mexico. It is just south of Alabama and was recently voted as having the best beaches in the US. Destin boasts great seafood, and excellent golfing and fishing. Home appreciation here is around 12% with the median home price about $165,000. Condos and townhouses here begin at $100,000 and can go upwards in the millions for waterfront property.

Investment Property in Florida – Attractive Tourist Areas

Let’s play a little word association. I’ll say Florida and chances are the majority of people will say Walt Disney World, or something relating to the Orlando area. Orlando has a thriving tourist economy that attracts close to thirty five million visitors each year. Real estate is booming here with the median price taking a dramatic jump from $166,000 to $200,000, an appreciation of 27%, making investing near Orlando a great venture. Conway Belle Isle, east Orange County, Maitland/Winter Park and northwest Orange County have seen the most dramatic property value increases. There is a strong job market here without forecasts of a downturn, keeping prices strong. There are a large variety of properties to choose from, including starter homes, modest cottages, older homes and impressive new developments. Orlando is called the City Beautiful and owes part of that title to its cleanliness, newness and innovation and variety of lakes and nearby attractions. Whether you are considering investment property in Florida as a rental for locals, as a tourist rental or to rent and use yourself, Orlando is an excellent choice in location. Consider the varied options of attractions in the Orlando area. Walt Disney World would be foremost as a draw card, followed by Sea World, and Universal Studios. But along with these well-known attractions, a plethora of other hot spots exist. Wet-N-Wild draws a huge number of the sizzling summer crowd, a great place to cool down on a scorching Florida summer day. Kennedy Space Center makes a great day trip as well as Cocoa Beach, home of Ron Jon’s Surf Shop and Daytona Beach, a world famous family and spring break destination.

Investment Property in Florida – Locations near Disney World

Having established that owning investment property near Orlando would be a wise investment decision, the search now begins for a specific location. Disney World, Sea World and Universal Studios are located on the south side of Orlando. Condos, town homes and single family homes are commonly purchased for investment purchase in this area. Closest to the Disney area is the community of Kissimmee, Florida. Kissimmee was a sleepy cow town just a decade ago. It is now booming with tourist activity. A quaint downtown area still exists with a few cattle ranches on the outskirts but generally the flavor of Kissimmee now reflects its large tourist population. Close to Disney, within 30 to 45 minutes, lies the lesser-known town of Davenport, Florida. Surrounded by orange groves, it gives you the feel of old rural Florida, but is close enough to the major attractions to make this an attractive investment option. Looking to get into a ground floor investment opportunity? Bimimi Bay Resort, a brand new town home resort development is now offering purchase opportunities. The many amenities in the planning stages include a resort pool, 2 movie theatres, a major restaurant chain, club house, lazy river, food court and many others. For the price of principal, interest, taxes and insurance, the owner has the many advantages of using the property for a minimum rate while vacationing and letting Bimimi Bay take care of all the headaches of rental during the year, still receiving a reliable monthly income. It’s a no lose deal for investors.

Lisa Carson http://www.biminibayresortinvestment.com lcarson@biminibayresortinvestment.com

Author: Lisa Carson
Article Source: EzineArticles.com
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Real estate investing has become popularized today because of real estate investing TV infomercials and traveling seminar circuits. But real estate investing has not always been so popular.

In the 1960s, William Nickerson wrote, “How I Turned $1000 into Three Million in Real Estate” and “How to Make a Fortune Today Starting from Scratch.” It was one of the first real estate investing books to get national attention. A little later, Al Lowry authored “How You Can Become Financially Independent by Investing in Real Estate.” Al Lowry might be called “the father of the modern-day real estate seminars,” because he was the first to hold seminars as a result of his book sales.

But it was Mark Haroldsen who carried the real estate investing book/seminar thrust to the next level. Haroldsen wrote, “How to Wake Up the Financial Genius Inside You.” If you were tuned in to real estate investing at that time, you remember the newspaper and magazine advertising showing a picture of suave and bald-headed Mark leaning against the front hood of his Mercedes. The picture appeared everywhere in full page ads of major publications. And as Mark began selling his books, he began holding real estate investing seminars. I have had lunch with Mark and Al Lowry as they swapped stories of the advertising blitzes that vaulted them into national prominence for their real estate investing prowess. Mark later wrote “The Courage To Be Rich” and “Tax Free.”

But it was Robert Allen who capitalized on the previous groundwork by Lowry and Haroldsen. Robert Allen was reportedly paid $1 million advance royalties for his best-selling book, “Nothing Down,” a compilation of 50 techniques for buying property with no money. Robert had learned these techniques from several years experience with a commercial real estate firm. He later wrote “Creating Wealth” and “Getting Started in Real Estate Investing.” The Robert Allen Real Estate Investing Seminars became a phenomenal marketing bonanza. Conventions were held in the major cities across the country, like Orlando, LA, Dallas, Chicago and Atlanta. The authors of various real estate investing techniques spoke at these seminars, but their spiel focused on selling packages of real estate investing materials that they offered for sale. Millions of dollars of real estate investing materials were sold at these 3 day conventions. The convention frenzy ushered in what has since become known as “The Nothing Down Real Estate Movement” of the early to mid-1980s.

I keep all of these books in my personal library, and you can probably still find them in your public library and book stores. There’s a lot of great information in these books that can make you very knowledgeable, even though some of the ideas are out-dated.

We are now presented a variety of ways for making money in real estate investing in TV infomercials, books and seminars. Which is best? Who can say? Real estate investing is learned through trial and error. Real estate investing skills and techniques are acquired by practice. I don’t think anyone can dogmatically recommend a technique best for another person. Every real estate investor has unique needs and is in a unique situation. Objectives of real estate investing differs.

However, if you are limited with real estate investing educational dollars and need to generate quick return on investment, I think fixing up cheap houses is an ideal beginning point. Real estate investing in makeover properties generates quick, profitable dollars with low risk.

Phil Speer, Ph.D., started his real estate investing career 25 years ago. Without the availability of credit and using only a $10 bill, he purchased $1 million in properties in his first year, and had accumulated $10 million in properties by his fourth year. http://www.CashinHouses.com/. He was featured in a Wall St.Journal editorial as most successful investor in the Nothing Down Real Estate Movement, and was honored with a Caribbean cruise as top investor of the year. In his hometown of Nashville, Tennessee, he has been a businessman and Human Resources Consultant for 30 years. He is an author, speaker and seminar director.

To learn how to profit in real estate investing, even without cash or credit, read his report at [http://www.Real---Estate---Investing.com/information/flipping.html/] Subscription is free to his Fix-up Ezine. He and other contributing authors provide free articles and resources on real estate investing at his online “Academy of Advanced Real Estate Investing Techniques” at http://www.AAREIT.com/

Author: Dr.Phil Speer
Article Source: EzineArticles.com
Digital economy, mobile technology

There is no doubt that the market for houses has been on fire recently. More and more people are taking advantage of low interest rates and easy mortgage loan terms to go from being renters to being home owners. With so many people entering the market, it is inevitable that questions will arise.

There are many things to consider when buying your first home. Some of the most important steps to buy a house are:

Step 1: Learning the home buying process

Start by learning as much as you can about how the home buying and mortgage application process works. Read as much as you can about buying a home. Check out the many books in your local library that offer hints to first time home buyers. Read financial web sites on the internet for tips for first time home buyers. You may even want to sign up for a class aimed at first time homeowners. Many towns and cities offer these kinds of classes, and they can be a great source of information for the buyer looking for his or her first home.

Step 2: Find out the pre-qualified price range

It is important to find out how much you can borrow before you start looking for a home. Talk with several mortgage lenders in your area and get pre-qualified for a particular price range. The mortgage lender will be able to help you determine how much you can borrow based on your annual income. In general, mortgage lenders recommend that all home related expenses, including the mortgage payment, insurance premiums and real estate taxes, do not exceed 28% of your monthly income.

Step 3: Get Pre-approved for mortgage loan

The next step is to get pre-approved for mortgage financing. This is similar to getting pre-qualified for a price range, but it is a more formal process. You will need to supply proof of your income for the pre-approval process to move forward. Most lenders will want to see income tax returns from the past two years as proof of the income you are claiming.

Step 4: House hunting

After you have been pre-approved for your mortgage loan, it is time to actually start house hunting with a realtor (find out why you need to find a realtor before buying a house?). Your mortgage lender will give you a letter stating that you have been pre-approved for a mortgage and the amount you are authorized to borrow. You will need to present this letter to the real estate agent when you get started. It is important to get pre-approved for a mortgage loan before beginning your home search. The real estate agent and real estate company will be much more willing to work with you if they know you can afford the home you are looking at. In addition, sellers will take your offer much more seriously if it is accompanied by a pre-approval letter from your mortgage lender.

Step 5: Make an offer

Once you have found a home that meets your needs, it is time to make an offer on the property. You will already know the most you can spend from the pre-approval process, and you probably will have your own ideas on what the property is actually worth. In addition, your real estate agent can guide you through the negotiation process and offer procedures. A copy of your pre-approval letter will be presented as part of the written offer. This will ensure the seller that your offer is legitimate.

Step 6: Negotiation process

If the seller accepts your first offer, congratulations. Your negotiations are over and you’re ready to start preparing for your move. More likely, however, is that the seller will come back with a counter-offer. This negotiation process can go on for a short or long amount of time, depending on factors like the motivation of the seller, the local real estate market, and a host of other factors. The real estate agent will be a good guide through the negotiation process. After all, he or she will have been through this process many times before.

Step 7: Provide copy of Purchase and Sale Agreement to mortgage broker

After the negotiation process has been completed, you will need to present your mortgage broker with a copy of the Purchase and Sale Agreement for the home.

Step 8: Work to close the mortgage loan

After presenting the Purchase and Sales Agreement, you will need to work with the mortgage broker to ensure you meet all the conditions required for the closing of the mortgage loan.

Step 9: ome inspection prior closing

Prior to closing, you will want to make sure to have a thorough home inspection performed by a qualified and certified home inspector. A home inspection will protect you from flaws in the construction and condition of the home that are not obvious to the naked eye. Home inspections can uncover things like foundation cracks, termite infestation and other home quality issues.

Step 10: Hand over down payment

After the home inspection has been performed and the report has come back clean (or all the items uncovered have been repaired), it is time for the buyer to actually hand over the money for the down payment and sign the loan documents.

Step 11: Collect the house key

After the closing of the loan, the fun part of home buying begins. Your real estate agent will hand over the keys to your new home and you can actually move in and enjoy your beautiful new home. Welcome to moving day!

Andrew is the web owner of Home Buying Tips: How to buy a house, a website that provides complete guide on home buying, selling house, home mortgage, foreclosure, real estate investment and more. You can visit his website at:http://www.buy-and-sell-house-fast.com/

Author: Andrew Webber
Article Source: EzineArticles.com
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Real estate investing is not in any list of high school electives. You can’t get an accredited degree in real estate investing. You won’t find a high school or college guidance counselor who recommends a career in real estate investing (if the guidance counselor understood real estate investing, he or she probably wouldn’t be a guidance counselor!)

The public school system and educational curriculum in the U.S. is only a feeble attempt to prepare students to just “get a job.” Unfortunately there is no class in “Making Money 101.” You don’t have the opportunity to take a class in “How to Become Financially Independent.” No teacher ever taught a class in “How to Succeed When Everyone Else is Failing.” I never learned anything about succeeding as an entrepreneur or becoming wealthy during my 10 years in the university classroom. I only became a multi-millionaire when I learned the skills of real estate investing, and I paid the price out-of-pocket and out-of-the-classroom for that education. I learned these skills in the ole University of Hard Knocks through trial-and-error.

Never disparage the cost of education. There ain’t no free lunch. You’ve gotta get this know-how outside of a classroom, and learning how to make money is gonna cost you. But if you think the cost of education is expensive, you should calculate the cost of ignorance!

However, learning real estate investing doesn’t have to cost you an arm and a leg. Yes, I know, the real estate investing TV infomercials and the real estate investing seminars held around the country charge big bucks for those 3-day seminars and week-long Boot Camps. But that’s pocket change compared to the fees they want to collect from you later. Catch this fact: all the real estate investing infomercials and seminars target you as a candidate for “real estate investing coaching.” That’s where they charge you up to $25,000 and over $50,000 per year for “coaching.” And often you are assigned to some kid “still wet behind the ears” to call you each week or month to hold your hand and whisper in your ear what common sense and a persistent drive should already tell you! I’m not exaggerating the real estate investing educational system, because I know it inside and out. I personally know many of the so-called “gurus.” I’ve been close to it for 25 years. My opinion is that the fees charged are exorbitant because the promoters have found deep pockets in the marketplace.

When I started my real estate investing career 25 years ago, real estate investing TV infomercials were unknown and real estate investing seminars were extremely rare. Back then, Mark Haroldsen followed an emerging trend started by Al Lowry and Nick Nickerson by holding occasional real estate investing seminars across the country. Later Robert Allen expanded the industry. Robert Allen promoted real estate investing conventions in the major cities across the U.S. He found a market for costly real estate investing packages of information with cassette tapes and note books. TV infomercials, expensive seminars, and outlandish coaching fees followed in subsequent years. Would-be real estate investing aspirants today who want more than an inadequate salary from a job in Dullsville often conclude that they have to “pay through the nose” for real estate investing know-how.

However, through diligent searching, these wanna-bees often find that this education in real estate investing is more readily obtained from other sources than they previously imagined.

Real estate investing is probably one of the most easily learned skills never taught in school. Real estate investing is probably one of the most prolific careers available on Planet Earth. Because families now live in houses instead of caves, houses available for fix up are everywhere. And probably nothing contributes to upgrading the deplorable housing conditions across America comparable to real estate investing in fix up properties.

The entrepreneur-minded aspirant who discovers the real estate investing industry often catches a vision of life-beyond-a-job. Books and online courses offer an alternative to expensive seminars and coaching.

Phil Speer, Ph.D., started his real estate investing career 25 years ago. Without the availability of credit and using only a $10 bill, he purchased $1 million in properties in his first year, and had accumulated $10 million in properties by his fourth year. He was featured in a Wall St.Journal editorial as most successful investor in the Nothing Down Real Estate Movement, and was honored with a Caribbean cruise as top investor of the year. In his hometown of Nashville, Tennessee, he has been a businessman and Human Resources Consultant for 30 years. He is an author, speaker and seminar director. To learn how to profit in real estate investing, even without cash or credit, read his report at http://www.CashinHouses.com/. Subscription is free to his Fix-up Ezine. He and other contributing authors provide free articles and resources on real estate investing at his online Academy of Advanced Real Estate Investing Techniques – http://www.AAREIT.com/

Author: Dr.Phil Speer
Article Source: EzineArticles.com
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If you want to buy a house but don’t think you can for any of the following reasons, this article is intended to give you correct information so that you can make smarter choices and open yourself up to a world of wealth, possibilities and realistic expectations.

The truth is you are being unrealistic when you believe the following reasons to be true:

I can’t buy property now because…

• I don’t have 20% for a down payment, let alone 5%, let alone even 1%.
• I don’t have any money for closing costs.
• I won’t qualify for a loan (I have poor credit, don’t make enough money, can’t prove my income, haven’t been at the same job long enough, etc.)
• The market prices are too high now.
• I don’t want to live in a bad neighborhood and that’s the only place I can afford one right now.
• I can’t afford the mortgage payments with my current income.
• Fill-in-the-blank.

I am here to tell you that you CAN buy property, regardless of any of the above.

In this day and age, there is absolutely NO reason why anyone can’t own their own home. The strict days of the 20%-down-excellent-credit-and-stable-well-paying-job loans are over, replaced by no-down-payment-prior-bankruptcy-and-stated-income loan programs.

With the wide array of today’s diverse lifestyles comes an abundance of opportunities and programs created for each and every possible situation. Businesses need to make money, and the best way to open themselves up to a larger range of customers is to offer services for the vast and varied circumstances of each individual.

Many lenders today offer little to no down payment programs, poor credit leniencies and even no proof of employment or salary requirements (in lender speak, it’s called “stated-income programs” where you simply state your income to the lender without having to prove it with pay stubs, W2′s, etc. This is widely used by freelancers and consultants).

In addition to the countless programs offered by lenders, there are now government grants and (often free) services available for the low-income, low reserve home buyer as well as plenty of programs for first time home buyers. Government programs and many private loan programs also offer assistance for closing costs (the costs required up front to pay for lender fees, escrow & title charges, etc.), with some programs requiring the seller to pay for most of them.

For a list of government grants, go to http://www.cfda.gov (The Catalog of Federal Domestic Assistance) or http://www.firstgov.gov (The US Government’s Official Web Portal). Click on “Benefits & Grants” to get to their grants page.

“Ok, that’s great,” you’re thinking, “but the real estate market is so inflated now, even if I could qualify for a loan, how am I going to afford a house in the neighborhood I want?”

Welcome to the wonderful world of foreclosures, tax auctions and rehabs (otherwise known as fixer-uppers)! It is a myth that all foreclosures and tax-defaulted properties are in poor, run-down neighborhoods. One good thing about foreclosures and tax-defaulted properties is their indiscrimination. They occur in gang-ridden crack neighborhoods, middle class neighborhoods and elite million dollar communities alike.

Another benefit is that they are generally much cheaper than the lowest priced house in the same neighborhood. We all know the difference between retail and wholesale. You could go to the mall and buy a shirt for retail at $20 or you could go to the garment district in the city and buy the same shirt for wholesale at $10, or better yet, with the advent of the internet, you could do all your wholesale shopping online in the comfort of your pajamas.

The same is true for real estate. If you wouldn’t spend that extra $10 dollars to buy a shirt at retail, why would you spend an extra $10,000 (or usually more) to buy a house at retail?

In the industry, houses that are listed on the market are considered retail. Houses you find through foreclosures and tax auctions are considered wholesale. These are discounted houses, available at a low price for a quick sale, usually because the Bank or County is seeking to simply make back the money they’ve spent on it before (and after) the buyer defaulted. This equals to huge savings for the educated buyer.

Rehabbing is buying houses that are a little less than perfect and fixing them up, either to sell for a profit or to keep as a residence. Some people enjoy the challenge of buying a property that needs a complete overhaul (new roof, extensive remodeling, structural fixes, etc.) while others prefer a “cosmetic fixer,” a house which needs a little touch up paint here and there, some flowers planted in the yard, maybe even a new kitchen countertop, etc.

Cosmetic fixers are a fun and easy way to make money. You get to do a little artistic handiwork (even if you’ve never done it before) and make money at the same time. The quick profits you yield can be rolled over into a bigger and better house, you can repeat the process over and over again, working your way up from a $50,000 house to a $500,000 house within a few years – and the best part, it’s all tax-free!

Called a “1031 Exchange,” the gains you receive from selling the house can be tax-deferred as long as you continue to buy an equal or higher priced house with the proceeds you make from the sale. Unlike a straight sale of a residence, there are no occupancy requirements or live-in time restrictions for a 1031 Exchange. For a residence, federal law states that you must live in the home for 2 out of 5 years of ownership in order to avoid capital gains tax. You may choose to live in it for 2 years and bank the proceeds – yes, tax free! – or you may choose to flip it and do a 1031 Exchange – yes, tax deferred!

If you’re sitting there scratching your head, thinking all this sounds like too much work when all you want is simply a house to call your own, chances are good you can still find a great deal in the retail market as well.

If you are convinced, or even slightly convinced that you just might be able to buy a home after all, here are some steps for the average, traditional home buyer.

• The first step is to figure out how much you are willing to spend. Get your finances in order by evaluating your current total monthly income against your current total monthly outgo. If you are paying $800 in rent now, how much more can you afford per month? If you don’t want to pay any more than $800 a month, but really can, I urge you to look at the bigger picture. Is it worth it to spend a little more per month now to ensure you have an investment that could reap significant returns for you a few years later? Is it worth it to invest that $800 a month (and a little more if necessary) into YOUR future prosperity and not your landlord’s? Is it worth it to live without Direct TV or 100 cable channels or 3,000 cell phone minutes in the short term to invest in your financial freedom in the long term?

  Be careful not to overstretch, however. You still want to enjoy your home without cursing it for breaking your bank. Depending on your financial situation, it may not be necessary to cut costs or stretch to purchase a home, but if so, what is owning your own home worth to you?

• The second step is to find the right lender or broker. You need to find a lender/broker so that you will know how much house you can afford. They will tell you how big of a loan you qualify for, based on your income vs. your debt (debt-to-income ratio), how much the monthly payments will be approximately, and how much your upfront costs will be, if any.
• Once you find the right lender, the third step is to find an agent. As a buyer, you do not pay an agent. The agent makes a commission from the seller’s final price. The commission (usually 6%) is split between the buyer’s agent and the seller’s agent (and their broker). If you can, be your own agent. If you find a house you like on your own, you can often offer the seller a lower price since they won’t have to pay part of that to the agents and can afford to lower the price for you. Sellers usually factor in the agents’ commissions when setting their asking price.
• The fourth step is to get to know the market. Knowing what to buy, when to buy and where to buy is key to making money in real estate. Watch the market, talk to agents, sellers, buyers, investors, anyone who might know the neighborhoods you’re interested in. Be open to neighborhoods you haven’t thought of or heard of. Your agent can help you with this too. If you have found a good agent, they will share with you their knowledge of the market based on their experiences being in it every day.
• Know what you want and why. There are numerous ways to make money in real estate. They range anywhere from simply buying low and selling high, to rental income property, to purchasing notes and certificates, to the aforementioned ways and more. Do you want to make a quick, instant million? Or do you want a modest but steady stream of income to be comfortable? Or do you just want to buy a house to live in, a house your children can grow up in? Study your options and go with the one that appeals to you regardless of whether you know anything about it and whether you think you can do it or not. Find your niche in the market and follow it.
• Learn from others who have done it. If your knowledge is insufficient due to lack of experience, let someone else’s experiences guide you. Take courses, read books, talk to others who have led the way and have achieved success in what you want to do. Don’t listen to anyone who hasn’t done it themselves, especially ones who tell you that you can’t. “Borrow” someone else’s knowledge until you gain your own through experience. There are a lot of materials out there to get you started.

Above all, the BEST thing you can do for your success is believe in yourself, believe it CAN be done and go out and do it! Stop wasting your time making up excuses why it CAN’T be done and start spending your time more effectively by finding ways it CAN.

Teresa Franklyn is author and publisher of The Daily Dose, a popular inspirational online publication. When shes not passionately typing away at her computer, she enjoys investing in Real Estate for fun and profit. For more information and helpful links about how to get into Real Estate, visit her website at http://www.followyoursoul.com. To read about her adventures as an Owner/Builder, visit her Blog at http://followyoursoul.blogspot.com

Author: Teresa Franklyn
Article Source: EzineArticles.com
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Investment Real Estate, First Things First

Considering investing in property? What are some pertinent things to consider before taking this leap? Of all the investment possibilities, investment in land generally produces the most positive results. It is vital, however, to carefully investigate the pros and cons, benefits and deficits of real estate investment. Most people look at investment real estate as risky and feel woefully inadequate to tackle this form of investing. They feel lost, not knowing where to even begin!

A multitude of information is available and knowing how to search can seem daunting. A web site search will produce boatloads of information, some valuable and some not. Some key words to search are real estate investment, investment property, and investing in real estate. This will begin the process for you. Not all available information is worth your time, however. Beware when the site promises high return for little down. Also beware of sites whose main goal is to solicit your money. Web searching is one form of research. Another is talking to a reputable real estate broker or real estate lawyer. One of the best sources of information is a friend you trust who has done real estate investing. A trustworthy friend who started as a novice and progressed to real investing is probably your best source of reliable information. Their voice of experience rings the loudest since they are a layman like you who had to discover for themselves each step of the way how to make successful investments.

Investment Real Estate, Rental Units

Let’s look at some sound reasons for investing in real estate. Real estate generally appreciates at a greater rate than the rate of inflation and offers great tax benefits. Selecting real estate in a desirable location will prove to be profitable especially in burgeoning areas, usually in suburbs which are a reasonable commute to city jobs. Of course the old adage, location, location, location is a very pertinent piece of advice to take to heart. Think of the most expensive housing markets today. If you have lived in an expensive housing market, or have visited there, you will notice that along with exquisite homes offered for sale at exorbitant rates, small, older homes you would never consider buying in another market are being offered for huge dollars. Why? Location, of course. When a housing area becomes desirable, even those small dumpy homes will sell for a considerable amount of money. Let’s stop for a moment and look at the advantages of investing in rental units as opposed to purchasing property for resale. One of the largest factors to consider in purchasing property for resale is finding properties that will resell at a higher rate than purchase, of course. Finding these properties is not as easy today as it may have been in the past. It used to be that fixer-uppers and foreclosures were avoided by homeowners and investors alike. Not so today, those same homes are being feverishly snatched up in the current booming housing markets.

Florida Investment Real Estate – Why Florida Is a Good Choice

Finding homes to purchase and turn over quickly for cash is becoming more and more difficult, leading many to consider purchasing property for the purpose of renting. What are some advantages to renting and what locations would be most desirable for purchase with a rental goal in mind? Owning rental property provides some unique advantages. If you have the time as well as the finances to invest, rental property could end up paying for itself in the long term. In order for this to be true, the most important thing to search for is property in a great location for renters. You don’t want to be searching for renters for months on end while you are being drained of capital. Those mortgage payments never stop, even when the list of renters has been exhausted. Buying rental investment property in a college town is a good bet for the possibility of continual renters and also buying in transient areas and tourist areas. Of all the above, tourist areas tend to be your surest source of consistent renters. Numerous high density tourist areas exist across the nation, but one of your best bets for purchase and consistent renters would be a sun-drenched spot with a year-round temperate climate. California and Texas would fit the bill, but as we all know, the most desirable locations in California may be out of reach due to the high cost. Texas may be considered a good choice, but only one state ranks as the premier tourist destination in the world and that would be Florida, the sunshine state.

Florida Investment Real Estate – The Orlando Area

With Florida’s burgeoning population, Florida investment real estate is a great option. Florida ranks 4th in population behind California, Texas and New York. Florida has one of the fastest rates of growth in the nation, making Florida investment real estate a very attractive option for investors. In the 1990′s, Florida grew by 23.5 percent with five counties increasing by more than 60 percent. Projected state growth would bring the population to over 19 million by 2010. An increasingly higher population obviously increases the need for housing. The increasing resident population being a great reason to pursue Florida investment real estate; let’s not neglect another face of increasing housing need. Florida has a tourism rate of almost 77 million visitors in 2004, making it the top travel destination in the world and producing $57 billion of income. Tourists flock to all parts of Florida, the beaches being one of the most attractive destinations. However, Orlando pulls in the most visitors, with 2.6 million international travelers, not including the steady stream of domestic tourists. This alone would offer sufficient reason to purchase rental property. But considering that the grand total of tourists visiting Orlando in 2004 was 48 million people, what great housing investment potential for investors! The biggest drawing card in the Orlando area is, of course, Walt Disney World. The area surrounding Disney has a hotel rate occupancy of about 80 percent. It’s obvious why the Orlando area is considered one of the most desirable tourist destinations in the world.

Florida Investment Real Estate – What are Reasons Tourists Come to the Orlando Area

Owning Florida investment real estate will give vacationers who visit the Orlando area a place to stay while you collect the rent. Theme park attractions are one of the biggest reasons Orlando has become a #1 tourist destination. The three most popular are Disney, which includes Disney World, Epcot, Animal Kingdom and MGM Studios, Sea World and Universal. Each attraction holds an appeal for people of all ages with families and singles alike enjoying each. Kissimmee is the town closest to Disney where families especially enjoy a few of the more laid back sights including Green Meadows Farm. Green Meadows is in an idyllic country setting with tours of the farm and more than 300 farm animals to touch and see. Also in the Kissimmee area is Horse World Riding Stables. The 750 acres of open pasture beckons horse lovers to enjoy a ride beneath the open sky. The Orlando Science Center beckons science buffs both young and old. Learning happens as a by-product here through the realistic, interactive and just plain fun exhibits. Fabulous night life is to be found both in Kissimmee which boasts two very popular dinner attractions, Medieval Times and Arabian Nights. Both serve delectable large portions of food with fabulous jousting and medieval type entertainment. For the shopper, Shopping and dining abound in the Orlando area also as do all sorts of natural environmental experiences.

Real Estate Investment in Florida – Bimini Bay Resort Florida

A well-kept secret but one located just 5 miles from Disney, in the center of Florida is Davenport, a treasure of a town close to the major attractions, yet a world away. On 80 acres of land in the Davenport area, you will find Bimini Bay Resort, Florida. A grand investment opportunity awaits you at Bimini Bay Resort, Florida where the investor participates in property appreciation but is not affected by negative cash flow during the off season. At Bimini Bay Resort, Florida you will find a planned community of luxurious town homes, offering 3 bedroom two baths that are fully furnished and equipped. Bimini Bay Resort, Florida is unique in that the investor can stay in the purchased unit while on vacation for a minimum fee while renting the unit the rest of the year. Management staff at Bimini Bay Resort finds the renters while you enjoy a guaranteed rental income each month. Planned amenities at Bimini Bay Resort include two major restaurants, a grocery, deli and food court and a sports bar restaurant. Bimini Bay Resort will also include a spa and exercise facility. A large business conference center and twin theaters are also planned at Bimini Bay Resort. Peace of mind will be yours at Bimini Bay Resort with its gated access with security cards. A fantastic real estate investment in Florida at Bimini Bay Resort awaits the investor who desires a consistent income without the headaches of day-to-day management. Bimini Bay Resort is worth investigating.

Our Featured Orlando Properties: You have an opportunity to join one of the fastest growing trends in the United States and the world. Orlando is one of the most explosive markets in the country and the Disney resort area has an average hotel occupancy of around 80%. Orlando is known as the vacation capital of the world and the top rated short term rental market, one that shows tremendous potential for real investors.

Tourism – with 76.8 million visitors in 2004 (a record number), Florida is the top travel destination in the world. The tourism industry has an economic impact of $57 billion on Florida’s economy. Click here for additional tourism facts and statistics.

City Population Rank (2000):

(Rounded to the Nearest Thousand)

1. Jacksonville – 736,000

2. Miami – 362,000

3. Tampa – 303,000

4. St. Petersburg – 248,000

5. Hialeah – 226,000

6. Orlando – 186,000

7. Ft. Lauderdale – 152,000

8. Tallahassee – 151,000

9. Hollywood – 139,000

10. Pembroke Pines – 137,000

11. Coral Springs – 118,000

12. Clearwater – 109,000

13. Cape Coral – 102,000

14. Gainesville – 95,000

15. Port St. Lucie – 89,000

16. Miami Beach – 88,000

17. Sunrise – 86,000

18. Plantation – 83,000

19. West Palm Beach – 82,000

20. Palm Bay – 79,000

21. Lakeland – 78,000

22. Pompano Beach – 78,000

23. Davie – 76,000

24. Boca Raton – 75,000

25. Miramar – 73,000

Most Populous Metro Areas (2000):

(Rounded to the Nearest Thousand)

1. Tampa/St. Petersburg/Clearwater – 2,396,000

2. Miami – 2,253,000

3. Orlando – 1,645,000

4. Ft. Lauderdale – 1,623,000

5. Jacksonville – 1,100,000

6. West Palm Beach/Boca Raton – 1,131,000

7. Sarasota/Bradenton – 590,000

8. Daytona Beach – 493,000

9. Lakeland/Winter Haven – 484,000

10. Melbourne/Titusville/Palm Bay – 476,000

11. Fort Myers/Cape Coral – 441,000

12. Pensacola – 412,000

13. Fort Pierce/Port St. Lucie – 319,000

14. Tallahassee – 285,000

15. Ocala – 259,000

16. Naples – 251,000

17. Gainesville – 218,000

18. Fort Walton Beach – 170,000

19. Panama City – 148,000

Home to 11 of the country’s 100 fastest-growing counties, a Florida investment property has high potential as a profit-maker, unlike most other areas. Port St. Lucie, Miramar and Cape Coral are the fastest growing cities in Florida. It’s unlikely you will make a mistake investing in Florida real estate considering the vast number of tourists and new residents flocking to the land of sun and surf. The most difficult decision to make will be which location in Florida to purchase. Good investments abound in each area of the state, from Miami in the south to Clearwater on the gulf coast, going east to Daytona Beach and north to the panhandle. Selecting a location depends on your goals for purchasing Florida investment property. Carefully consider what you intend to do with your Florida investment property. Will your purchase be used mainly as a rental property for vacationers? Do you intend to have access to the property during certain seasons? Or is your goal rental of the property to local tenants? Some of these questions will help you in narrowing down your search. Once you have determined whether your Florida investment property will be used primarily for vacationers or for local renters, and whether you intend on using it as a vacation resort yourself, it is easier to choose the location.

“Each year is better than the previous one,” said Abe Pizam, dean of the University of Central Florida’s hospitality management college. “But it’s not yet where it should be, or where it was.”

Pizam said that, while a weak dollar has helped renew interest in Orlando among some foreign visitors, many are continuing to stay away because of heightened security measures in the United States and the hassles that accompany them, as well as increased opposition to the war in Iraq.

“It’s a miracle that, despite that, we have improved our visitor counts,” Pizam said. “We cannot deny there is still animosity toward the United States in many parts of the world.”

Struggling economies in South America also put the brakes on many potential tourists’ travel plans in what historically has been a strong market for Orlando.

According to the bureau’s figures, the number of South American visitors have dropped substantially in recent years, from 659,000 in 2000 to fewer than 300,000 last year.

Other signs point to a recent upswing in international traffic, however. Orlando International Airport officials said in June that the airport recorded a 20 percent increase in international passengers compared with the same month last year.

On International Drive, a tourism corridor that benefits heavily from overseas travelers, merchants are noticing the difference.

“It’s maybe picked up,” said Zach Marino, manager of Texas de Brazil restaurant on International Drive. “In this area it’s hard to tell because this is the spot to be. We have a strong international clientele.”

Asian visitors increased by nearly 40,000 in 2004, and about 100,000 more Canadians traveled to Orlando last year than in 2003.

The visitors bureau noted that it has stepped up its national and international marketing of Orlando, having pulled back on such advertisements after 9-11.

“Our plan is more back-to-normal in terms of marketing thrust,” Peeper said.

New York remained the No. 1 source of domestic out-of-state vacationers to Orlando last year. The Tampa Bay area held on as the top source of in-state visitors.

Experts are predicting that 2005 will exceed last year in terms of both international and domestic visitors.

Earlier this month, Walt Disney World reported percentage growth in the low double digits among international tourists, while the number of domestic customers remained relatively flat during one of the rainiest Junes on record.

“If everything stays stable, we should come out on the international side real well” in 2005, Peeper said.

Sharona Murvin
Florida Investment Real Estate Expert
http://www.biminibayresortinvestment.com

Author: Sharona Murvin
Article Source: EzineArticles.com
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