It is amazing to know that after these stressful economic times that we hear and read about, real estate still remains the sure thing for long term investing. With prices currently fluctuating in every industry it is comforting to know that your real estate investments will continue to survive the storm.

The question remains on where you need to save money. The one thing you do not want to skimp on is hiring a property management company. If you already have a property manager, then you are on the high road to success.

Here are five simple reasons why you should use a property management company:

1) If you are an out of state investor you need a property manager by law. Few investors know that there is a $1000 fine to not have a statutory agent representing your investment in the state your property is located. The manager can be where you can’t. They become your eyes and ears for that property and know the laws of that state. That is the peace and comfort that you need in a long distant relationship.

2) Property managers deal with your tenant. You stay completely out of the picture. Let them chase the rent, deal with the complaints, handle the legal issues, the HOA, and you know that list goes on and on.

3) Property managers will have networks of professionals. This can include everything you would ever need from subcontractors, lenders, appraisers, inspectors, and so forth. Most management companies are set up as one stop shops to help provide the best service they can.

4) Property management companies will save you time and money. Do your homework. Of course on paper you see management fees getting taken out of your net cash flow but what does that cost you in the long run with the headaches and your precious time which leads me to my final point…

5) Property management frees up your time to focus on life. You have careers, families, and hobbies. Let the manager deal with your investment issues while you focus on the more important things in your life.

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This session will cover personal income taxes as they relate to the management of your woodland. The speaker will cover how to determine your basis, what kinds of expenses you can deduct and how to deduct them, and the three ways you can hold property.

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UK property investment can provide an enormous sense of gratification that you simply cannot find with other forms of investment. UK Property investment is now enhancing a far more mainstream investment vehicle, available to investors with the knowledge and foresight to spot effective investments before the competition can. Yet while they linger comparatively open and accessible, the road to prosperous property investment and land investment is littered with those who have made a multitude of investment and other mistakes and paid the price.So, you can realize your dreams of UK property investment find the right investment opportunities and avoid the pitfalls along the way. By protecting up-to-date with the current news and articles featured on this website, you will gain the proficiencies necessary to make a profit from your investment. Buying cheap UK property from tormented sellers in the UK for investment objective is quickly becoming popular for many property investors. Experts in the property field unremittingly claim that an investor’s money is made when he buys cheap UK investment property. The reason is that when you buy such a property, you can turn it into an lucrative asset and therefore enjoy the profits it offers while benefiting from genuine built in equity from first day.The popularity investment in UK property to rent it out or turn it into a buy-to-let vehicle hinges on the issue that investors can earn a advanced returns with careful property selection and controlled borrowing. Estimations have showed that investing a property in UK has made 66,000 investors into millionaires, according to Midas Estates.For a time, few persons demand that now may not be such a good time to plan a UK property investment, many experienced investors know that now is an excellent point in the property cycle to pick up bargains. With the stabilizing of property prices in the UK, many people deem that the price adjustments present a good opportunity for property investors who are in for the long haul. A long-term approach to property investment is touted as an effective means of ensuring a more financially secure future because of the capital growth the property accrues over a long period of time. As property investors put it, the longer you’re in it, the higher your return.Finding cheap propertiesEvery year thousands of UK properties are sold at under market value. Many of UK property investment are released through property auctions regarded by many as one of the best ways to locate cheap properties. Now is particularly a good time to scour auctions with the market experiencing an evening out of prices which means you have a lot less competition. Often properties in auctions are sold cheaply because they require modernizations, renovation or development.To generate wealth through UK property investment, you must search property in areas where capital growth and a good cash flow are possible such as those areas where demand outstrips supply.

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Green Happiness

“He who plants a garden, plants happiness” is an old saying. However, things have changed a lot nowadays. Today, the proverb could be thought of as “He who plants a garden, plants money!” When it comes to selling a house, landscaping is an important factor that determines the value of the property. Real estate gurus believe that gardens around a house can contribute more than 10% to the total value of the property. Moreover, the houses with attractive gardens, particularly mature trees, are easily saleable when compared to the other houses with limited or underdeveloped landscaping. Investing a little time in tending your garden can really pay dividends when it comes to selling your home.

Enjoying Green

Houses with gardens around them are excellent choices for those who wish to enjoy time outside, while not travelling far to do so. It is always refreshing to open the door and go out into the garden and smell the flowers, plants, and trees. Most of us spend less time enjoying the greenery in public parks and sanctuaries since they are becoming more scarce and because of urban sprawl are often far away. Since most of us will never have a chance to visit the tropical rain forests of Central America why not invest a few dollars and house and have your own piece of nature right outside your door?

Green can be healthy

Plants not only contribute value to the property, but gardens also have great health benefits. The health benefits of gardening are impressive. According to medical experts, gardening is a great exercise for legs, shoulders, arms and neck. Gardening also helps to strengthen the joints in our body. Recent researches indicate that gardening lowers blood pressure, reduces cholesterol levels and also prevents diabetes and heart diseases. Gardening is also an ideal physical exercise for people who want to reduce their weight. Gardening helps to burn fat and as an added bonus, creates some healthy, organic fruits and vegetables for your entire family to eat.

Green in real estate

Based on a recent survey or property owners, it was noted that 95% of residential homeowners and 86% of commercial property owners believe that good landscaping adds more value to their properties. Also real estate brokers around Austin think that merely having a garden is enough to attract the buyers. Moreover, gardening has lots of benefits like offering a healthy body, fresh air, a fresh mind, fresh food, bringing birds, attracting butterflies, sustaining beneficial insects and added value to your property. Finally, gardening and makes your property look its best. So plant gardens around your home and grab the sure ticket to quick and valuable resale!

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Lucy Kelson is a Chief Counsel for the Wade Corporation, one of New York City’s top commercial real estate developers. She’s a brilliant lawyer with a sharp, strategic mind. She also has an ulcer and doesn’t get much sleep. It’s not the job that’s getting to her. It’s her millionaire boss, George Wade. Handsome, charming and undeniably self-absorbed, he treats her more like a nanny than a Harvard Law grad and can barely choose a tie without her help. Now, after one year of calling the shots- …

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In most property management structures there are some list of rules or protocol. This list maybe written, or just in the head of the person at the top of the company. In property management, the bottom line goal is always to make a profit from your property or business. You are also in charge of the overall maintenance and the look and feel of the property. So in property management, what do you do when someone on your team is not fulfilling the rules or responsibilities that you as a property management owner have clearly laid out?

For example, most property management structures do some form of performance management. What is meant by that is that most managers lay out a clear expectation and they follow up to ensure that employees are following those expectations. If you do not have some form of performance management structure within you business, then you are throwing away your money. Some people within your property management structure are not abiding by the rules and are continuing to work for you taking away your profits. Anyway, back to the point. In this example, a company is using performance management through monthly mystery shopping. A mystery shopper came into their business and pretended they were actually looking for something. They were testing the ability to take care of the customer. The goal for this property management structure was to score a 90 percent or higher after they were evaluated by a secret shopper. The top quality associate received a 65 percent.

Remember, this associate is top of line, will soon be promoted, and usually gets the customer taken care of. When confronted with this score, his response was simply, It is better than a 45 percent, which is what he received last time.

If you were in this property management structure what would you do? The associate did not seem to mind that he did not pass his mystery shop and said it was better than his last performance. Would it seem like this associate does not care or that he is looking toward the future and builds off the past?

Just think about it for a moment. In your own property management structure, does someone on your staff perform as the example lists above? Is there an employee that is doing more damage than good in your property management structure? This associate had a stern talking to. That associate has been there for over a year and knows how to take care of customers. The associate was upset at first and then realized that he knows what he is doing, but chose not to do it. So when you are trying to performance manage your staff on your property, make sure that everyone knows what their job responsibilities are. Then from that point on, your staff is just choosing not to do their job versus not knowing how to do that job. If they continue to choose not to do their job, then that is when they are promoted to customer.

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As a small business owner, it can be very challenging to grow your business, remain profitable, and maintain a balance in life with your family. Some property managers can manage 50-100 properties without the need of a full time employee or commercial office.  However, once the portfolio exceeds 100 units, an owner needs to consider hiring an employee and opening a commercial office.

One of the best decisions I ever made was to purchase an office condo. As a property manager and landlord, I don’t mind having mortgage debt as long as someone else pays the mortgage. Why not apply the same concept with a commercial office.

I own two separate commercial office condos that are about 1,000 sqft. each. We sublease 50% of the space to our mortgage broker, attorney, and real estate sales agents.  Our office condo has a dedicated conference room, and a shared reception area, bathroom, and kitchen. Our tenants use the conference room by appointment, and we offer free usage of our fax machine, printer, and digital scanner/sender. Hi-speed internet is included, and our tenants setup a separate phone line or VOIP system through our internet connection. Our phone system also supports multiple companies with separate business lines offering full voice mail and voice attendant.

The monthly cost of renting an office will vary in cost depending on location and your local market. Renting an equivalent office in our market would cost $1,500-$2,000 per month after paying rent, internet, phone lines, and utilities. If the lease is a triple net lease requiring you to pay property taxes, it can be even more costly.

There is a huge demand for small business owners needing to lease a small commercial suite to conduct business or meet customers. Many small businesses can’t afford the overhead cost of leasing a larger office. Many businesses compliment a property management firm. Consider subleasing to a real estate attorney, sales agent who works with an investment group, insurance agent, mortgage broker, or contractor.

Renting office suites to small business owners is extremely profitable. We rent each suite for $400-$500 per month. Both office condos cash flow several hundred dollars each. Not only does this give me a free office, but I plan to use the yearly cash flow to payoff the mortgages within 10 years.

If you partner and sublease with a small business owner, consider sharing employee costs.  You may be able to cross train a receptionist or assistant to help you and your tenant partner. This can reduce your overhead cost, until your business grows enough to support the cost of a full time employee.

My business has grown, and I now have several employees. Leveraging my office condo helped me manage my overhead and make the transition from a home office to commercial space much easier. I still work at home, but my staff members answer calls, draft leases, and handle all maintenance and accounting, etc. This has provided the best balance for my business. Now, I can actually take a vacation. Before I had an office and a team of resources, it was impossible to take a vacation.

Owning your commercial can make your business more profitable, if you sell your business in the future. You could package the business and office together for sale, or sell the business only and keep the office and lease to new owner. Both scenarios are attractive offerings to a future buyer.

I encourage property managers to consider making the investment to purchase an owner occupied office and sublease to business professionals. Not only can you have a free office, you may generate business leads from your business tenant relationships.

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When it comes to buying property, Costa Blanca is a fantastic location for property investment as it has a perfect combination of awe-inspiring natural beauty and a cultural legacy. Costa Blanca is well known for its resorts such as Benidorm and Elche, the palm tree capital of the world. Golf lovers flock to the area to enjoy year round golf thanks to a climate that provides over 300 sun filled days a year. Food connoisseurs enjoy meals that have been influenced by Costa Blanca’s Moorish agricultural past and rice is a main ingredient in many dishes, which includes the famous paella. Many people enjoy a glass of fine wine produced in the area, to compliment their food.

Besides being one of the most beautiful and sought after destinations, Costa Blanca has many different types of properties that are suitable for most people’s budget. Buying property in Costa Blanca is all about location, location, location. If you have a large budget, then properties along the seafront would be ideal as they tend to be more expensive then else where. Seafront properties are known as real estate paradise as they are sought after areas with holiday makers and the properties can bring in some healthy rental income for the entrepreneurial property investor. If you are looking for a property as a rental income, it is advisable to choose one that has some beautiful natural sights and is near attractions like a Water Park and an Animal Park. Being located near a shopping mall and public transport can also increase your asking price for rent, and add value to your property when it comes to reselling.

For some property investors the seaside properties are too expensive, so they are traveling inland where the property prices are easier on the pocket. This is proving to be a popular choice for people relocating to Spain as not only are property prices cheaper, but the way of life tends to more ‘Spanish’ then places along the seafront that have had a heavy British influence for many years.

Once you’ve decided you’re going to buy a property, set a budget and stay with it.

In Costa Blanca property prices vary with the seasons. Therefore, when you are buying property in Costa Blanca consider the time of year as the off-peak season can provide you with property that is cheaper than at the height of the tourist season. Visit the property at least twice before you make a decision, and visit it at different times of the day. Talk to the neighbours about the area and listen carefully to what they say. Also check what amenities the property has, such as electricity, water and gas, so you don’t have any surprises once you’ve bought the property.

Having some knowledge of the property market in Costa Blanca is an important aspect to consider when buying property as the market is different than the UK. For example the buyer is liable for a transfer tax (IVA) and the rate is dependent on whether the property is a new build or a second-hand property. There are online service providers providing legal advice as well as up-to-date details of available real estate. Confirmation of the reputation and knowledge of the real estate consultant is a must to ensure reliable information about the property you want to buy. It is also important to have a legal advisor to check ownership of the property and any outstanding debts on the property before you sign any paperwork.

In conclusion, if you are looking for an overseas property investment, buying property in Costa Blanca has a lot to offer investors –great weather, popular with tourists, rich with culture, and different types of properties to suit all budgets.

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TIC transactions have exploded in popularity over the past few years, and are now a hot topic among commercial real estate professionals. A TIC Agreement is used to establish the rights of people who own property together but who are not married. This is a very important agreement because without it there would be no legal obligations on the property and various liabilities and loss could occur as a result.

TIC: Property Management and Asset Management

Just as with all other real estate investments, there are certain possible risks that come along with the TIC investments. Because of this it is important that all investors and potential investors are sure to carefully review all materials related to these investments before going through with it.

In particular potential investors should be aware of the restrictions on transferring TIC interests. There are many different tax risks and tax issues that are involved and TIC: property management and asset management needs to be properly understood by a person considering it.

For one, there is no absolute guarantee that cash distributions will continue with a TIC, and so TIC: property management and asset management obviously needs to be taken very seriously because otherwise serious financial drawbacks may occur.

There is also the potential for foreclosure with this investment, as any and all financed real estate investments do have the potential for the possibility of foreclosure. There are things that can be done in order to alleviate the foreclosure risk or at least some of it, but it is important that you take the necessary steps to do this.

Also on the topic of TIC: property management and asset management, there is the potential for having an illiquid investment, which is easily one of the most major advantages. Illiquidity is a common feature of alternative investments, but the diversity of hedge fund investments.

It is important to discuss any investments including a TIC: property management and asset management that you are considering with a qualified and experienced tax consultant first, so that they can assess your current situation and help you to really decide whether this is going to be a wise decision for you at this point in your life.

It is imperative that you be understanding of the investment and of what you stand to lose, because if you go into anything without being fully knowledgeable on it, especially when it has to do with your finances, you are putting yourself at great risk.

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If you look at the most stressful events in a person’s life, buying a home is on the top ten list. After all, it’s a big decision – both emotionally and financially. Many home buyers go through an anxious period after they’ve arranged for their mortgage and get ready to move into their new home. Knowing you’ll get a pocketful of cash would sure help, wouldn’t it?

That’s a big part of the attraction of cash-back mortgages. A plump cheque is a psychological boost to home buyers who have just made one of the biggest financial commitments of their lives. As mortgage brokers, we like to work with our clients to ensure that they look beyond the temporary “feel good” of the cash, and weigh their options wisely.

Remember that the cash-back option comes with a trade-off: if you choose not to take the cash back, you can get a lower interest rate. Over time, you could see substantial savings in interest payments.

So, start with the most important question: What will the cash be used for? Is this purchase a priority, and is it worth the difference in the rate? Perhaps you have a plan to take advantage of the cash-back to purchase the household appliances for your new home. The extra $3,000 for new kitchen or laundry appliances may be an urgent immediate need and a higher priority overall than the lower interest rate for your mortgage term.

But here is the second question to discuss with your mortgage broker: What will be the impact of the rate difference over time? You’ll need real-life figures to work out the details for your personal situation, but let’s look at an example*:

Let’s say that your cash-back option pays 1% of the mortgage amount on a two-year deal, 3% on five years, and 5% cash back on a ten-year closed mortgage. And let’s assume that you’re looking at borrowing $100,000 for a 5-year term, amortized over 25 years. Not long ago, you might be looking at the difference between cash back and a rate of 6.60%, or a discounted interest rate of 5.29%.

So what’s the bottom line? Your cash-back option would give you $3,000 up-front, but over your 5-year term, you would pay a little over $6,300 more in interest costs than you would have with the discounted rate. The exact cost of the cash-back option in this example is $3,330.44 – paid out over 5 years.

Is that a good deal? It depends. Did you get the much-needed appliances for your home… or use the funds to manage a high-priority expense? Then you probably got good value from the option. If – five years later – you can’t remember where the money went, then perhaps you didn’t make the best trade-off.

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There are many stresses associated with home buying – both financial and emotional. And frankly speaking, it doesn’t help that the process comes with its very own foreign language. While your mortgage broker can help de-mystify these terms, it helps to have a bit of a primer on what some of these terms mean. After all, it’s your money and your home we’re talking about; as a Mortgagor, you have a right to understand what you’re reading. (You didn’t know you were a mortgagor? Read on…)

We’ll start with Amortization” and “Term”. Both refer to periods of time in the life of your mortgage, and you’ll want to be sure that you understand the difference.

The amortization” of your mortgage is the length of time that would be required to reduce your mortgage debt to zero, based on regular payments at a specified interest rate. The amortization period is typically 15, 20 or even 25 years, although it can be any number of years or part-years. You could establish that you are able to make a certain payment each month of say $950 for your $130,000 mortgage at 5.5%. In this case, your amortization period will be just under 18 years. Or you could tell your broker that you’d like to be mortgage-free in just 10 years. With an amortization period of 10 years at the same interest rate, your $130,000 mortgage will cost you about $1,407 per month. That’s a tougher monthly payment, but you would save thousands of dollars in interest. (More than $35,000, in fact.) As you arrange your mortgage, then, keep in mind that your amortization period may be fairly long — although the shorter you can make it, the less you’ll wind up paying for your home in the long term.

The “term” of your mortgage will typically be shorter. The “term” is the duration of your mortgage agreement, at your agreed interest rate. This will be a very specific length of time, although you will have several choices. A 6-month mortgage is a very short-term mortgage. A 10-year mortgage will be one of the longest terms, generally with a higher rate of interest to represent the higher degree of uncertainty in the economic outlook. After your mortgage term expires, you will need to either pay off the balance of the mortgage principal, or negotiate a new ontario mortgage at whatever rates are available at that time.

Now, back to the term “Mortgagor”. This is one of three very similar terms: “Mortgagee”, “Mortgagor”, and “Mortgage”. A Mortgagee is the lender of the money: a bank, company, or individual. A Mortgagor is the borrower: the person or persons (or company) that is borrowing the money, and who will pay it back to the mortgagee. The Mortgage, of course, is the legal document that pledges the property as a security for the debt.

Still confused? Speak with a mortgage professional. Get the best mortgage suited to your needs and all your questions answered in plain talk.

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David Kellermann, the acting chief financial officer of mortgage giant Freddie Mac, was found dead at his home in Reston, Va. in what police said was an apparent suicide. (April 22)

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Buying a property in Greece can be one of life’s most exciting experiences – and one of the most challenging, so have you really thought about what’s involved? Have you done your homework, research and planning? A little forward preparation will help you achieve your goal of successfully living in Greece. It’s much better than leaving the purchase of your Greek property to chance.

One of the most common mistake people make when buying a property in Greece is to presume that the laws and property purchase procedures are the same in Greece as they are in their own country.  They most certainly are not!  Many people, who would like to buy a property in Greece, find that the Greek property market appears to be a daunting experience. At first the Greek property purchasing process seems to be a very complicated one, but, approaching the undertaking of buying a property in Greece step by step shows that it is easily achievable.

Purchasing property in Greece is generally safe, although it is wise to obtain legal advice and follow the rules provided for your protection.  People that choose to ignore such procedures often do so at a financial cost.

If you have decided to buy a property in Greece there are a few fact you should know about before you buy your own property in Greece.

1. THE COST OF BUYING PROPERTY IN GREECE: When buying a property in Greece add at least 15 per cent of the purchase price for fees and taxes, including a property-transfer tax of 7 to 11 per cent. Lawyers fees 1-2%, other expenses approximately 1% for notary fees and land registry. Local municipal tax or community tax is currently calculated at 3% of the property purchase tax and is paid together with the property purchase tax. Annual taxes are payable in Greece on properties owned over the value of 200,000 Euros. The valuation of properties is carried out by the government which provides published values, announced for every type of property. This is known as the government objective price.

2. SETTING UP A BANK ACCOUNT: All transactions are conducted in Euros. You will need to set up a Greek bank account to pay for your legal advice, transfer money and pay bills. There are foreign exchange brokers that can transfer large amounts to Greece according to the business rate. Payment of utility bills can be set up very easily by direct debit via the bank, and money can be transferred online. To open a bank account you will need your passport and a utility bill with you address on it.

3. THE “PINK SLIP”: The all important ‘pink slip’ for wire transfers of money from abroad. If the property buyer cannot justify the amount of money they have spent, the Greek tax authorities will assign it as unreported income and the buyer will be assessed income tax.

4. THE AFM NUMBER: All buyers of property in Greece must have a Greek tax roll number (AFM) which is issued by the tax offices. It’s free and issued on the spot. Greek and EU citizens must show their ID card. Foreigners living in Greece are required to present their passport or another valid document of identification and their residence permit. Greek and foreigners who permanently reside abroad can also apply for an AFM. They must submit the application to a special tax office located at 18 Lykourgou St, Omonia

5. LAWYERS (‘DIKIGOROS’): It is essential to get an English-speaking lawyer. The British Consul’s provides a list of recommended lawyers, Tel 0030 210 369 2333. Beware of buying a property that belongs to more than three family members. And you will need a substantial file as you need to have photocopies of everything. The lawyer conducts the title search at the relevant land registry.

6. PUBLIC NOTARY (SYMVOLEOGRAPHOS):  The notary public is independent of either the seller or the purchaser. He draws up the contract for transfer of property and the various terms and conditions contained therein. If you do not speak fluent Greek an official translator must be present for the reading and signing of the contracts and a small fee will be paid by you.

7. REAL ESTATE AGENT: The Real Estate Agent’s fees are usually paid by the seller and the buyer.  The exact amount of commission is a matter between the agent and the client. All expenses for the conclusion of the final contract, including the tax on property transfer will be borne by the buyer. Each party will pay the fees of their legal representative who must be present at the signing of the contract; this is required by Greek Law. 

8. A CIVIL ENGINEER (‘POLITIKOS MICHANIKOS’); may be hired to review a specific plot and to ensure the property’s boundaries are within the description in a title document. They can also be consulted regarding specific building restrictions in place in your chosen area.

9 HOLIDAY HOMES: A common error made by many people is to over estimate rental potential. Do not count on holiday lettings for your property to tourists during the months you are not there. In the last two years there has been a decline in tourism in most parts of Greece, and income from letting property has declined with it. To let out rooms legally, you must have a license from the Greek Tourism Board.  You must also fulfil fire and safety regulations, and you must pay tax on this income. Authorities are having a clamp down on illegal lets, and fines are enormous!

10. INSURANCE: Whether you intend using your property for holidays or as a permanent residence it is wise to make sure your home is properly insured. You can arrange insurance through a reputable UK broker or your Greek Bank.

Whether you are planning to buy a villa, village house or an apartment, I hope this information will help you avoid some of the pitfall of purchasing a property in Greece and that your path will be smooth, bringing forth many happy years in your new Greek home.

Good luck!

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