How to Make Your Liquor Store Into a Thriving Business

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

In my extensive experience with helping individuals buy all sorts of businesses, I’ve repeatedly noticed something thought provoking about people who are selling liquor stores. Almost all of them are suffering from severe burnout!

If you tour a number of liquor stores that are for sale, you’ll discover what I mean. The places are usually dingy, and there are bottles on the shelves that could have been sitting there for years. The lighting needs updating, the walls need paint, and boxes of old stock are piled up in the storerooms. I have even seen injection-molded plastic signs on the walls for brands of beer that aren’t even available anymore.

Sounds dismal, right? Well, not really, because all those factors can spell opportunity just for you, a smart buyer.

Here are the steps to turn that underperforming liquor store into a money machine!

Step one: Make sure you buy the right store!

First things first… You have to buy a store with untapped demographic potential. It could be an older „mom and pop“ liquor store in a neighborhood that has recently been transformed by the arrival of younger, well-to-do professional consumers. It could be in a part of the city where new office complexes are planned. Whatever it is, it has to have growth potential.

Avoid buying a liquor store in an area that’s in decline. Sometimes such stores can be generating positive cash flow by selling half pints of liquor and flask-style bottles of inexpensive wine, but let’s face it; a store in an district which is improving will always provide you with more opportunities for expansion and increased profitability.

Step two: Cater to a more upscale clientele!

If you’re in an region that’s bringing in an increasing number of professional people, begin building an upscale inventory that will appeal to these customers. Don’t wait for people to ask for more exclusive wines, get those products on your shelves in anticipation of popular demand.

Then we get to the issue of customer service. If you want to capture an upscale customer group, you’ll have to be able to answer questions about various wines – which wines are highly rated, or which go best with a particular kind of food.

One way to provide this service is to hire knowledgeable salespeople. Another way is to hire enthusiastic people and train them, or perhaps become a wine expert yourself. Your choice of strategy depends on your budget, your sales and the size of your establishment.

Step three: Make your upscale store look the part – from day one.

If your store needs renovation or freshening up before it can appeal to your new clients, make sure you budget for this – and always reserve a realistic amount of money for fix-ups. Arrive at a reality-based figure for how much everything will cost, and make it part of your calculations as you bargain with the Seller for the most realistic purchase price. Remember, you can’t get the business from any of the upscale clientele by rolling on a fresh coat of paint on dirty old shelves. Look at windows, lighting, floor areas, wall coverings and more. Even your cash registers need to be up-to-date and spotless.

Step four: Expand your product offerings beyond alcoholic beverages.

Over the last decade, upscale liquor stores have begun to offer gourmet cheeses and other food products. It makes sense to expand in this way. If people are looking for a good bottle of wine, or some excellent beer to compliment a good meal, why not offer them cheese, olives, crackers and other elegant appetizers? Remember to check local ordinances and zoning to be sure you can sell foods at your location.

Step five: Hold in-store events to attract more of your target clients.

Hold wine tastings, cooking classes and cheese seminars in your store. If an author has recently published a book on wine or cheese, have a book signing on your premises.

Events do more than sell products. They give your store the feeling of a community – and a destination.

Step six: Build an Internet presence.

Set up a store Webpage where you recommend wine, liquors and beer. On your Webpage, make sure to put a sign-up form where customers can subscribe to a professional email newsletter, in which you distribute detailed information about your products.

Also, in your newsletter, add in coupons for rebates on wines, beer and a variety of other products, and make an effort to be creative with discovering new ways of making it as simple as possible for your customers to recommend new subscribers to you.

Always provide your Website visitors with the ability to order products directly from your site. You can offer local delivery if you have a vehicle, or low cost shipping to a wider area. Be aware, however, that you may be prevented by law from shipping alcoholic beverages to other states, and make sure to check this out before you buy your store, so you can get a realistic idea of the business’s true overall profit potential.

Immobilienmakler Heidelberg

Makler Heidelberg


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Source by Richard K Parker

How to Get Rid of Sour House Smell

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

You should start with the basics first; chances are, if you’ve reached the point of looking for help in terms of getting rid of sour house smells on the Internet, then you need to do some serious cleaning. Set aside a day, or a weekend, specifically for cleaning.

If you don’t want to or you can’t do it alone, enlist the help of those you live with. Perhaps you can also ask for your friends‘ help. Bribe them with pizza and beer or brochettes and wine if you have to. Afterwards, use the following suggestions to get rid of your house smell, and maintain a fresh, aromatic or at least breathable living space.

Sour House Smell Removal

* Dry out the living quarters first, and then clean out your basement so it is empty of anything that can hold moisture and run it down there as well. Remove cardboard boxes.

* If you have a forced air heating and cooling system with ducts on your home, get the ducts checked. Decades-old houses can have mold, lots of built-up of dirt and other nasty stuff that can cause a foul odor. Your ducts can also be rusting now, so you may need to have them changed.

The newer ducts available on the market today are much more energy efficient. You’ll save air conditioning costs this summer by getting new ducts. You can also hire a company that cleans ducts to inspect the ducts you have right now. Some have a camera that can show you what is in your ducts. Be careful who you get! Use a reputable company and check with the Better Business Bureau. Ask them for references. Some only clean a short way and spray a deodorizer. The estimate to get your ducts cleaned can be hundreds of dollars less than getting new ones.

* Check your carpets. Sometimes carpets are steam cleaned unprofessionally and a lot of water remains. This causes mildewing and a related musty odor.

Remove your carpets and put in hardwood or similar type flooring, with area rugs that can be cleaned outside of the home and dried before returning to the area. If your carpets are ten years old, it doesn’t hurt to remove them.

* You may have a mold of some sort growing in your carpet or behind your wallpaper. Create a bleach solution (1:10 to start, then up to 1:4 if it does not work) and gently wash down all of your walls and mop boards. Rent a hot water carpet cleaner and put a bleach solution into the reservoir rather than the soap they try to sell you. Add a drop or two of dish soap, but add no more. It is the water that cleans, not the soap. Adding too much soap will actually make your carpet dirty because it does not rinse out of the carpet and soap bonds with dirt.

* Though chlorinated bleach is very notorious in discoloring a lot of things, you may risk using that for really heavy-smelling jobs, even on dark carpets. If you’re still wary, there’s always oxygen bleach. It kills „everything“ that may be causing an odor and the hot water cleaning really helps allergies as well.

Keep babies off the rugs as breathing chemicals of any sort is especially bad for them. If the smell comes back more quickly than you think it should, get a dehumidifier.

* Never run a dehumidifier where you have an open window or you will dry out the immediate atmosphere of your home. An air conditioner actually works even better because of the filtering system in it, but if it is too cold where you live to still be using one, then stick with the dehumidifier.

* To rid your linoleum or hardwood floors of that not-so-fresh-smell, simply mix a 3:1 solution of warm water and white vinegar in your mop bucket and get to work. Remember to crack a window or two. Vinegar has a good clean smell, but it’s a strong one.

Sour House Smell Removing Products

* Buy a large pump of Febreze since it works on everything. Smelly hampers, sticky cars, sleeping bags that reek of camp fire… you name the smell, Febreze can quell. You can get it at most supermarkets.

Another idea is to use a citrus odor neutralizing spray; it’s so effective that beauticians actually use this at salons to get rid of perm smell.

* An Ozone Generator or Air-born Hydrogen Peroxide Device can also work, but they tend to be expensive and may not get to the root of the problem. Covering or filtering odors is always more costly than eliminating their source.

* If you want something a little cheaper, you can try Ozium Air Freshener-it’s the best way to keep the air in your home or work space clean and smelling fresh. Ozium does not cover up the odors associated with sour smelling houses – it eliminates them!

Ozium, the original air purifier, is a chemical agent that actually eliminates unpleasant odors and reduces airborne bacteria. Ozium actually cleanses the air through glycolized action. The Ozium glycolized formula acts directly on odor causing particles in the air.

* Electrostatic Air Filters are good for getting rid of dust buildup, but can be bad if they don’t operate properly. Electrostatic air filters work by ionizing the air that passes through the filter, collecting dust from the air by creating an electrostatic field, like a comb collects particles after being run through dry hair quickly enough.

Why are electrostatic dust collectors be bad for you? If they don’t operate properly, they can produce ozone, which is a respiratory irritant. So make sure you do your research before investing in one of these air filters.

* Try Renuzit, in any scent. If you can, try to find the Super Odor Killer scent. The fragrance in SOK (introduced in 1972) is not readily identifiable, because SOK uses a blend of perfumes left over when fragrance manufacturers produced a little too much for another company’s orders.

This blend is not only good at masking a variety of odors, it can slightly be used at higher fragrance levels without overwhelming the user. The popular and more readily available Country Kitchen scent will also suffice.

* Fresh Wave has an array of all natural, non-toxic and earth friendly products for laundry, upholstery, floors and ventilation that are designed to attract, capture and neutralize sour house odors.

Sour House Smell Prevention

* The best way to stop sour house smell from building up is to clean as you go. Put things away as soon as you’re done using them. Throw things away as soon you know you won’t use them. Everyday maintenance is the key to a breathable, livable home.

Have a presence of mind when it comes to cleanliness. Create a small space for things to be donated and recycled and clear it out as soon as it gets full. Limit your storage space and „junk“ drawers so you don’t have the opportunity to just toss clutter in a closet and forget about it.

* People will tell you that the best way to get rid of mold – one of the main contributors of bad house odor – is to use an ionizing air purifier to help pull the pollutants and mold spores out of the air. Well, they’re half right.

An air purifier isn’t a bad idea for preventing mold growth, but those ionized air filters can cause health problems if they’re not constructed properly. Sometimes if an ionizing air filter isn’t built right, it will spit out ozone which, as scientists will tell you, is good for the atmosphere and bad for your lungs.

Serious complications can arise if you’re using the wrong air purifier. Choose wisely and make sure you buy from a reputable company.

Immobilienmakler Heidelberg

Makler Heidelberg


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Source by Fen Malayan

Lease Incentives in Commercial Property

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

In leasing today and particularly commercial and retail real estate, it is common to come across the word ‚amortisation‘. In brief, the word explains the concept of recovery of landlord incentive costs over the duration of the lease.

In this property market we need to attract tenants to the property and encourage a decision of taking out a new lease. In the case of new tenant occupancy, the landlord may choose to provide some incentive which could be by way of rent-free, a new fit out, or reduced rental. This is common when the market is in a downturn or slump and an oversupply of vacant space exists. In today’s market this is the case and will remain so for some time. The creative provision of incentives is part of the leasing process.

Get the incentive money back!

When such incentive activity is provided by the landlord, it is common practice to recover the costs of that incentive back to the landlord plus interest on the funds provided, and such recovery is to be structured over the duration of the lease. Amortisation is the process that achieves this.

This then suggests that any incentive, rental rebate, or rent-free period is not actually free. That is certainly the case, and an experienced real estate agent or broker will support the process and the economics of the lease deal to ensure that the landlords funded incentive is recovered in some way.

What do tenants want?

When the tenants ask for a new lease and some incentive as part of it, they do not expect to hear about the amortisation process and the economics behind it. They do not want to hear that the good incentive that they are to get in the lease deal is to be paid back whilst they are in occupancy. Let’s just say that the concept is known between the agent and the landlord and the recovery of the incentive is structured (added) into the rent profile and the rent review processes during the lease.

The tenant in today’s market thinks that the market is slow and in their favor, and on that basis the landlord has to do something that attracts them to the property. That is where the incentive becomes part of the negotiation. An incentive can be anything of value to the tenant, but is normally one of the following:

  • Rent free period
  • Rent reduction period
  • Cash paid to the tenant
  • Fit out provided to the tenant

Whatever the incentive used, it is up to the real estate agent to structure the rent and incentive process in favor of the landlord as part of negotiating the deal. At the end of the day, a tenant only wants to know about the premises and the total rental which is to be outlined in the lease.

It is the job of the real estate agent to ensure that the incentive is structured so that the landlord achieves the recovery of the outlay in incentive. The tenant doesn’t always want to know the exact detail of what you are doing in the rental commerce. They just want to know what they are paying for total occupancy of the premises on a monthly or weekly basis and how that rent will increase over the term of the lease.

In a quiet market with a saturation of available vacant premises, it is common for incentives to be very active and at times they will reach a level of 30% of the total of the rent paid normally under the lease during its term. In any new property project the level of incentive will go slightly higher to approximately 37% but in doing so the developer for the project will have written that incentive cost into the project. In such case the tenants will pay an inflated rent (as a face rent) to allow the developer to recover the outlay.

So how is it done?

So the rent and incentive commerce goes something like this. If the rent for the premises with no incentive being provided is $200 per m2 pa (apologies to those of you who calculate rent by the foot), and the incentive that is to be provided to attract the tenant to sign the lease is equivalent to an amount of 10% of the rent recovered from the tenant during the term of the lease, then the starting rent should be $220 per m2 pa. This is called a ‚face rent‘. The rent without any incentive paid in the lease ($200 per m2) is called an ‚effective rent‘.

Whatever the start rent is to be (face or effective), it will then be escalated by a rent review structure that is practical and fair in the market. Your good market knowledge is part of this lease rent assessment and decision. The landlord needs to know what is right and fair in the prevailing market conditions to attract tenants to the property. Extended vacancies are not a real strategy here and are to be avoided; even a lease that has a low rent start or a higher level of incentive, can be shaped to a better rent level over a few years and therefore be in line with market rent at a later time.

By the way, property valuers will always find out the type and amount of incentive that was provided to a tenant to entice them to take up a lease. The valuer will then remove the incentive from the value of the property as part of their professional valuation process.

In some cases a landlord will want (or try) to ‚hide‘ the incentives paid in any lease from the valuer for this very reason; this ‚hiding process‘ is common when a property is being valued for mortgage loan purposes. I am not saying that this ‚hiding process‘ is ‚legal‘, but rather it happens, and a good property agent will know about it and understand what the real rent for a property actually is (with the incentive removed). Financiers know about the mechanisms of incentives and how they are provided and documented, and valuers of property similarly so. Importantly the level and type of lease incentive in the market is known by all parties and is not exceeded unnecessarily.

How to do this?

In handling amortization of lease incentives, it can be done in various ways. Check with a local solicitor to ensure that you are complying with standards and legislation in your area and country. Here are some examples of how incentives are handled.

  1. Some landlords choose to have the incentive repayment process added to the rent that would have normally been paid should an incentive not have been provided. In this case the tenant does not always understand that the rent has been inflated to recover the incentive for the landlord. Nothing is ‚hidden‘, it’s just that the tenant pays a high rent for the premises.
  2. Other landlords may choose to have the amortization of the incentive separately detailed in the lease document as a separate ‚charge‘. In this case it becomes a separate payment of incentive rental each week or month and the tenant knows what it is for. The incentive is clearly seen by anyone that reads the lease and all parties know what is going on.
  3. Other landlords may choose to have the amortization of the incentive documented in a separate agreement between the parties well away from the actual lease itself. This is usually done by way of a ‚deed‘ or separate legal agreement. Given that the tenant signs the ‚deed‘ they then know that they are paying for and of its existence. It is the other people that read the lease that may not know of the existence of the incentive. If this is the case, take particular care at the time of property sale as the potential buyer of the property will want to know the full commerce of the occupancy.

The important message here is to understand that incentives are active from time to time when you lease properties in a market that has an oversupply of space. Incentives are the way in which the landlord attracts an interest in occupancy. As a professional real estate agent or broker, it is your job to ensure that the full recovery of the incentives is achieved. The landlord should be shown that you are going to get all their incentive money back from the tenant over the lease term (not the lease option), together with a rent for the premises that is fair and reasonable in the market and location in which you work.

A good lease incentive is one that attracts the tenant to the property, and then is paid back to the landlord as quickly as possible.

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by John Highman

Finished Intarsia Woodwork – How Much Can I Sell It For?

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

How much can I sell my intarsia woodwork for? This is the question I get asked all the time. So I know that at least some of you out there are considering trying to sell your work.

So how much are they worth?

Early Days – A Typical Scenario

You’ve started on a new and exciting woodworking skill called Intarsia. You can’t get enough of it. Your family and friends are really impressed with the stuff you are making. So every new piece easily finds a home.

You are happy to give your finished pieces to your close family and friends. But then friends of friends start wanting pieces. It occurs to you that while you certainly enjoy making them there are costs involved other than your time. And even though you don’t feel you need to be paid for your time it would be nice to get some sort of return for your labours.

Mid Intarsia Crisis

Well maybe not a crisis but now you do start to think it might be good to sell a few intarsia pieces to recoup costs. And how much easier is it to get the boss to agree to a new machine in your workshop if you are showing a return. „Well dearest heart, I’ve made a few bob already and with that money I can buy a brand new – insert your preference here – so I can make my intarsia even more efficiently and then I’ll easily be able to get around to making that new coffee table you’ve always wanted and so richly deserve.“ Woffle wofle woffle.

The Big Question – „How much are they worth?

„How long is a piece of string?

The golden rule. „They are worth whatever customers will pay for them“

Which doesn’t actually tell you anything. So let’s look at a couple of pricing scenarios.

The Academic Approach

A Masters degree in Business will tell you to do something like this. First calculate your total cost of production.

Material Costs

* Timber including any waste – $ Very little

* Plywood backing – $ A tiny amount

* Hangers from a framing shop – a few cents

Consumables

* Sandpaper – $ more than you’d first imagine but still not much

* Glue – a few more cents

* Varnish or oil finish – $ a few dollars

Overheads

* Workshop rent – it might be your garage but somebody some time had to pay for it.

* Telephone

* Electricity

* Broom for sweeping up

* yadda yadda yadda

Marketing

* Cost of stall at local flea market/car boot sale

* Traveling cost to get there

* Your time sitting behind the stall all day

Profit

* The cream on the top that you deserve over and above your wages for running your own business. And now the big one.

Labour

* Your local mechanic charges $50 (or $60 or $70) per hour to fix your car. And it’s probably the first year apprentice that’s done the work anyway. It’s taken you 84 hours to make your masterpiece (you’ve carefully noted the hours) and it looks fabulous. You’re not greedy so maybe $20 per hour is okay. That makes $1680 plus the $50 for all the materials etc. $1700+. Probably not going to get that at the local flea market.

Okay, let’s be less ambitious and work for $5 per hour, I don’t actually need anything, this is just a hobby. And I’m sure I must have got those hours wrong, lets pretend it was only 40 hours work. So $200 plus a bit extra for materials, let’s call it $220 all up. Now that sounds more reasonable.So not-with-standing the business degree, what we’ve actually done is made a guess at the price. Surely there’s a better way. You’re right, there is.

An aside Sitting all day in the hot sun at a local flea market hoping a punter with $220 in their pocket will happen by is okay occasionally but not a regular, reliable income stream. Oh, you say, but if you take your work to a local gallery they want 40%, or 50% or more for themselves. And all they have to do is hang it on their wall, I had to do all the hard yakka to make it. Highway robbery. But if you go the gallery route you don’t have to hang around all day, every day looking for customers. They do that. That’s what you pay them for. And they have to spend the money to make their gallery look good, not you. We always tried to make quality woodwork so we could interest the best galleries in the land. Way to go. Happy to pay their cut as long as they keep them trucking over.

The Two Month Rule

I take my finished woodwork to the local craft gallery and talk to the owner. After some discussion we came to an agreed starting price and his percentage. Listen to the owner. If they are any good they know their market. Your beautiful intarsia gets hung on the wall. Hopefully the first thing the customer sees when they first walk into the gallery.

* If the work sells in less than two months it is too cheap.

* If it takes much longer than two months to sell it is too expensive.

* And you guessed it, if it sells in about two months the price is just right.

The first time I did this I took along 2 frog intarsia on Thursday. They both sold that weekend. Priced too cheaply but I knew there was a market.

Okay, so now you know the price you can sell them for. But maybe you are still only going to be earning $5 per hour based on the time it took you to make that first one.

So what have you gained?The knowledge that you can’t expect your customers to pay for your inefficiency.

So what can you do about it. There are lots of ways to streamline your production. You will make your 20th frog a lot more quickly than the first one. As you get more experienced you will come up with all sorts of short cuts. But that’s another article.

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Steve Bundred

Bed and Breakfast Franchising

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

If you are looking to open a bed and breakfast for whatever reason, I would like to tell you that you have made a great choice. You should know that it is going to take some time to fully establish your bed and breakfast, unless you choose a franchise. The most work in establishing a bed and breakfast business is the planning.

Having a bed and breakfast franchise is great but you should do the proper amount of research before you have completely made up your mind. First, do you know what a bed and breakfast is? A bed and breakfast is a cross between a very nice hotel and your home. If you are looking to start a bed and breakfast business then you should know that it is not like a regular hotel, it does not have fifty to one hundred rooms. One bed and breakfast will consist of four to ten guest rooms with bath, a large living area, and dining room plus a great kitchen.

If you plan on a B and B business you may also want to keep in mind that the owners live at the Inn. The owners at the site treat it as their home and act as if the travelers are their guests, which they are, just paying guest. The guests in the B&B business expect to be treated very well.

When running the B&B Inn you should not forget about the actual breakfast. You should make sure a nice home-cooked breakfast is available for your guests each and every morning. You should make this breakfast available in a commercial dining room, as-well-as, in the guest’s own room; it’s your choice on how you want to handle that situation.

Today it seems like bed and breakfast franchises are very popular and are beginning to rise into public view more and more every day. When starting your B&B you should know you are going to have a lot of competition. In the 1980’s the SBA records show only a handful of properties for B&Bs, (approximately 1,000 properties hosted around one million guests). Today you will find 28,000 properties that are hosting 50.5 million guests.

If you are starting a bed and breakfast for profit, you should choose a franchise that is very popular. Your B&B business will be as successful as you make it but remember it takes time to start your B&B Inn and franchising can make the job easier. B&B inns date back to the Roman Empire and you know what they say; Rome wasn’t built in a day.

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Edward Dean

How to Identify Emerging Real Estate Markets

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

If you are interested in making a career out of real estate investment, it is important to have the ability to spot emerging markets before they reach their full potential. This allows you to get in early and support the growth of the market, while also ensuring that you are in a position to make as much money as possible form your initial investment.

Of course, that sounds far easier than it actually is, as it is not always easy to see where the next market is going to emerge and it can often be difficult to get all of the pieces of the puzzle to align so that you can take advantage of it.

Here we will look at a few tips that will serve you well when you are considering your investments.

Take Away Personal Taste

If you are looking to invest in property, the first thing that you need to do is take away your own personal tastes. After all, the property isn’t intended for your own use, so what you think about it is actually not all that much of an issue.

Instead, try to consider how the property fits into the surrounding area and if there is going to be a demand for what it has to offer. Cheap apartments, for example, may not be to your personal taste but they may well serve a purpose to the area in which they are being built. Put your business head on and try to see the big picture in terms of how the market looks in a particular area.

Get In Early

The term „emerging“ is important to consider here, as your investment will be worth less if you jump on a bandwagon that is already well-established. Keep your eyes open for news of potential investments and try to get on board at the earliest possible stage, so that you can reap the largest rewards at a later date.

Of course, this doesn’t just mean that you should invest in everything that is just starting up. Consider the reputations of the people behind the project and their previous successes. Be sure to meet with them to discuss their plans and the research they have put into the project, and be very wary of anybody who is not willing to speak to you directly but still wants you to invest in their venture.

Know The Local Market

The property market is extremely complex, with national cycles not always matching up to the way that the market is going in various localities. As such it is extremely important that you do the research into any area that you are looking to invest in and, just as importantly, you keep on top of the changes in that market that are always bound to happen.

Simply put, you are not going to make any money if you invest in a project where there is no demand. Find out if the area is a renter’s market, or a comfortable place for people to purchase a first home and look for upcoming projects that will satisfy that demand.

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Bill Len

Making the Transition From an Apartment to Your First Home

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

Between myself and my real estate team, we have worked with several first time home buyers we have had several times where a first time homebuyer was moving from an apartment complex and into their first home.

We found that this transition in real terms is not that big of a deal, however it is the sentimental, emotional, and financial part of the transition that can have the biggest effect on a first time homebuyer. In other words, first time homebuyers that have been renting in the years leading up to the purchase of their first home have, on average, moved a half dozen times before the move into their first new home. The average age of a homebuyer is 32, and i can remember making at least 5 times before planting down in my first place. Point being, its not the actual move that causes the fear or the challenge in the moving transition; we have found that its all inside the buyer’s head.

With that said, the biggest change for a first time homebuyer will be the emotional and financial changes that occur through the process of buying one’s first home. Most notably, in most cases, a buyer’s monthly payment will go up compared to the rent that they were paying. Also, renters are used to calling the landlord when something breaks in the place that they are renting. For a first time homebuyer, something we do with our initial consultation is set expectations and try to ease the „sticker shock“ for a first time homebuyer. We do this by encouraging the buyer to „pretend“ to make his or her would-be payments so that they can get a feel for it and not get all stressed out the first month they move in. I’ve found that this fear of a higher monthly payment is all inside your head. Many buyers initially fear the higher payment, and sometimes it is a deterrent from buying a home in the first place, but I’ve found that all buyers get used to their new payment and make it a part of their lives and adapt and adjust their finances accordingly. A buyer gets qualified for a home loan, so the bank is taking a statistical bet that the buyer will be able to handle the payments, and i tend to agree with them on this as well.

However, a buyer can get over this financial concern by making the „pretend“ payment; for example, if rent is $1500 a month, but the new mortgage is going to be around $2200 a month, then make the rental payment, and throw $700 into a savings account every month leading up to your home purchase. For some buyers who are buying a short sale, this may entail more than a few months of saving, which is even better and directly addresses the second most common concern about the home-purchase transition for a new buyer which is maintaining and taking care of the home they just bought.

By saving each month with your pretend home payment, you are building a reserve for the rainy-day (or Maintenance fund) for your new home. Any good realtor professional will (or should have) a great list of referrals for all types of service providers and tradespeople, and we let our clients know this so that no matter what could happen, we have them covered with a good, reliable professional that can assist. Furthermore, if and when something may occur, or if our buyers are just looking to upgrade the home in a necessary or desired manner, they have the funds to do so rather than dipping into credit cards and getting further into debt, which we recommend staying away from at all costs.

The pretend mortgage payment is one great strategy that if implemented correctly, reduces stress, fear and concern in the mind of a first time homebuyer and allows them to focus on the task at hand and make the homebuying process a fun one.

Lastly, its interesting to note that nearly every new buyer that comes into the office, when we ask them why they are looking to buy their first place, one common thread that they all have is to quit paying someone else’s mortgage because they are sick of paying rent – this is the motivation enough to know that by purchasing a home they are staking a claim into their financial future and making their future that much more secure which is the emotional push that they draw upon whenever the buying process gets challenging, or when fears or concerns begin to mount. We always remind our clients why they came to us in the first place and that helps them get through the finish line and on with the enjoyment of their new home.

Immobilienmakler Heidelberg

Makler Heidelberg


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Source by Michael Justin Wolf

Buying a Flat From an Investor – What You Should Know

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

It is a popular concept in Mumbai to purchase Investor flats. Mostly, you find them through the builder himself, after the builder has exhausted the stock in his hands.

What is an investor flat?

An investor flat is one in which an investor draws an agreement with the builder to purchase a given flat at a certain future point of time. In return for this promise, he pays a small token money towards the price of the flat. This agreement happens even before the construction begins. So, the price agreed upon for the flat is also quite less.

Benefits of investor flats to all parties

Investors:

The benefit of this agreement to the investor is the fact that he is able to procure it at a very low rate and needs to make payment only much later.

Builder:

The main benefit for the builder is the cash flow that accrues to him even before commencement of the project. This will ensure smooth execution of the project. Also, he is making sales even before the goods are produced.

Consumer:

It is not any problem to a consumer to buy a flat from an investor. As the agreement will be made with the builder itself (in case purchase is before possession) the agreement will be one of first-sale and not of resale. Depending upon the investors needs, prices become negotiable. Recently, I heard of an investor flat being quoted at nearly Rs 1000 per square feet lesser than that of the builder. Isn’t that great?

Therefore, when you search for new flats, don’t rule out investor flats. They are as good as buying from the builder itself.

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Archana Sarat

Home Selection Checklist – A Good Aid When Choosing a Home

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

This home selection checklist is a tool to help you select a home that is right for you and your family. Before you select a home and get a mortgage, you need to know if you will be happy with the home you select for the coming years. Home selection is a major step in your life and using a checklist to select smartly will help you think of all the things you need to realize about a home before you buy. Take a checklist with you to each home you might select and write down all the important home selection points on the checklist. Use the checklist for each potential home selection and you will have a „fact book“ to review and analyze before your final home selection.

These important factors in home selection are designed to help you create a checklist of your own.

You can then research homes for sale and checklist how each home compares to other homes you’ve selected to view. By the time you are ready to get a mortgage you will know, from the selection checklist, exactly the pros and cons of each home.

  1. How old is the structure? Older homes require more maintenance. Mortgages on older homes can be more difficult to obtain. Mortgage insurance and the homeowner’s protection required by the mortgage company you select can be more costly on the home. Note on the selection checklist any items which need repair if you select that home.
  2. How many stories is the home? If you or a family member is aging, or you expect to live in your home selection for years, stairs can be a major problem. If you are young and won’t live in this home selection for years, this shouldn’t be a problem. Place this on your selection checklist if it is a concern for you and your family. Note on your home checklist any selection items which might make family visits difficult.
    It would be a major inconvenience to say the least if your family can’t visit because of stairs or hills.
  3. What material is the home construction? Concrete slab and block construction homes
    pose a lower fire threat and this will reflect in your home insurance and maybe
    even mortgage rates. Place the building type you prefer on your home selection
    checklist.
  4. Kitchen area: How large a kitchen will suit your lifestyle? Is the refrigerator ancient or newly new? Is the stove in good condition? Do you prefer to cook with a gas or an electric stove?

    Do you want a garbage disposal? Determine exactly what is important in a kitchen, and place those selections on your checklist. Then rate each property you might select as to how many of the checklist features are included. Of course, some selection checklist features are easy enough to add; other selection checklist features can’t be changed.

  5. Living areas: Is a formal living area and a den an important selection on your personal selection checklist? List on the home selection checklist each need. Are there windows for plants, if you are
    a plant-lover? Is the carpet in the potential home selection in good condition? Think about these
    items before signing a mortgage! Note any probable expenses on your home checklist for later review. Use these in budgeting for your mortgage
  6. Laundry facilities: Does your home selection have laundry hookups that will not require you to run up and down stairs to bring laundry from bedrooms to the washer? Are the hook-ups in good condition? Note on the selection checklist. Place on your selection checklist any items you would select to replace upon moving into the home. Write on the checklist the anticipated cost of replacing the items you select as unacceptable. Remember to budget so you can pay the mortgage plus refurbish the home selection after purchase.
  7. Bedrooms: Is your family formed or do you plan on more children? Are there enough bedrooms to allow guests? Is the master bedroom in the home selection large enough? Obtaining a mortgage on too small a home can be a major error. Place on your selection checklist exactly the size home you need to select.
  8. Closets: Will there be enough closet space for your family’s clothing? Place on your checklist how many closets you require.
  9. Bathrooms: Will there be enough facilities in your home selection to allow everyone space for their personal items and plenty of time to use facilities. Large families require several bathrooms; be sure to put this on your home selection checklist! A selection that needs bathrooms added plus mortgage payments can be expensive. Consider this in your mortgage budget.
  10. Roofing: Take a look at the materials and condition. If the roof looks as if it will need repair soon, consider this major cost in your mortgage pricing. Roofing is very expensive. Research the cost of replacing a roof
    before you make an offer. Note these costs on the home checklist. Will your budget cover mortgage and roofing expense?
  11. Water heater: Look at the water heater and determine condition. Look for
    places that may have leaked and any damage resulting. Also, is the water heater
    gas or electric in the home selection? More notes for your home checklist.
  12. Air conditioning / heating: Do these units in the home selection appear to be old or new? Are they energy efficient? If you sign a mortgage on a home only to learn the entire heating or HVAC requires replacement, you could cause yourself financial stress. Checklist the estimated age of each appliance and piece of equipment in the potential home selection. Include checklist notes of expenses for replacing older items. Place in your home mortgage selection notes that you may want a home inspection or warranty if equipment looks older; your checklist selection can save you from making a major mortgage error!
  13. Utility Cost: Don’t be afraid to ask the home owners to see electric, gas and water bills. If your home selection is well insulated and energy efficient, they will be happy to show you. Energy costs are important points on your home selection checklist.
  14. Neighborhood: Do you want to be in a gated community? Is a play area for children nearby the home? What about schools? Is the neighborhood surrounding the home selection clean and attractive? Ride around the neighborhood; see other homes to learn about the area before making your home selection to mortgage. Secure neighborhoods help not only ease of mortgage approval, but on insurance as well. Checklist this item on your home selection list.
  15. Yard: If you have children or pets, you may desire a large yard. If you are a gardener, a nice yard is important. Again, checklist everything that truly matters in your ideal home selection.
  16. Parking: Is there space for your vehicles and guests? Is there a garage? Carport? Is the driveway in good condition? Include on your home selection checklist what matters to you. Again, if these require repair, put these notes on the checklist so you can budget
    accordingly.
  17. Future expansion: If you wish to expand the home at some future time then is there space on the property without crowding? Consider the future before you mortgage a home that you may have to sell later as your family needs grow.
  18. Zoning and Restrictions: If you have a home business, is it permitted in the
    potential neighborhood? Selection of a home which prevents the activities you value would be a bad mistake. Some communities have restrictions regarding working on your car or motorcycle, parking a boat and other issues you need to know before
    making your final home selection. Keep this point on your selection checklist if
    you work on your car or have a boat beside the home.
  19. Work: Is the home of your selection near your workplace? If not, is it easy to access the expressway for an easy commute from home? Will you come to hate the idea of going to work from
    this location? Note on the selection checklist for your home the miles you will
    drive per day and the cost.
  20. Shopping: Groceries, and convenience stores, gas stations and the like should be in close proximity of your home selection. Note on your selection checklist how far from home to the nearest shopping centers. Checklist where you would go from your home to shop.
  21. Sidewalks: This checklist point for home selection is important for families with children. If there are no sidewalks,
    then children won’t be able to easily walk to visit friends, ride bikes, or do other activities children love to do. Also, checklist if you like to take strolls or walk for exercise yourself.
  22. Amusements, churches, activities: If you have activities you like to do, consider the drive time from the home selection. Will your children’s movie visits on Saturday become a long drive? Are at least a few doctors nearby the potential home? Amusements your family enjoys should be reasonably easy to reach.
  23. Neighborhood Lighting: If you like to go out at night, or your children will be playing outside, is the area well-lighted? Not only are these selection criteria important for your children, but burglars just hate a well-light home and neighborhood! Checklist some safety issues you need before considering a mortgage.
  24. Traffic: If you have children, your new neighborhood should be low traffic. Also, traffic equals noise. Consider this important fact as well. A home on an expressway has frustrated many.

This home selection checklist points are meant to help you think to checklist important home selection options before obtaining a mortgage for a home. Make yourself a custom home selection checklist that includes the things that matter to YOU and YOUR FAMILY, and then take this along when home shopping. With a checklist

in hand, you can make the selection that will make you happy for years and years!

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
Wir verkaufen für Verkäufer zu 100% kostenfrei
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Source by David Chapman

Buying Investment Real Estate Incognito

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

An oft promoted „secret“ of buying investment real estate with the intent of „flipping“ the property is, as usual, no secret at all. It is however well worth reviewing here so you don’t end up in a relationship that you don’t want. Many real estate investment aficionados promote the concept of buying real estate under the name of an organized legal entity instead of their own name. One purpose behind this structure is to facilitate easy re-selling of the property. This goal is reportedly accomplished by selling the ownership entity (LLC, Corporation, or Trust) and thus transferring the property it owns as well without the traditional process of title searches, title insurance, filings, etc. It sounds good, but is it really? I understand well the desire to make life easy for a buyer. However, there are elements involved in a typical „entity sale“ that may make it problematic at best.

The first issue is the probable sale of the entity. Unless this is done correctly, the seller may in fact be selling a security. Securities law is what governs people who sell securities. Stocks, bonds, and shares in a LLC are all generally considered securities. In a case like we are discussing, the seller must comply with securities law. The penalties for breach of these laws are far more punitive than for breaking most real estate laws. In addition to the securities ramifications, there are liability issues.

For all available real estate ownership benefits to be enjoyed by (passed through to) the owners they must have personal liability for the debt. This means that the new owners will of necessity need to sign on any underlying debt, assuming that the current lenders will allow it, which is no way a given. In addition, it will be difficult for the sellers to get a release from the lenders. It is important to note that this type of a sale may well still trigger a „due-on-sale“ clause in the mortgage. This would allow the lender to call 100% of the loan balance due and payable. Read these clauses carefully.

There is also the issue of entity operating liabilities. Simply put, if you buy an operating entity, you will inherit all of its operating liabilities. If the entity owes a debt when you buy it, you owe the debt. That is true even if the debt doesn’t pertain directly to the property you want to own. This may be the case for loans like lines of credit, credit cards and open accounts with vendors. In most cases it is difficult to learn of all the debts owed by an entity, and therefore, if you buy an operating company, be careful to identify and document all the debts you assume and have the sellers indemnify you against any others.

As with many things in real estate, this concept is presented as a safe, secure and easily used tactic to facilitate the business. In the real world, it typically is not. But, it is used with some degree of frequency. The reason you don’t hear more about it is that the parties involved usually never get to the point of litigating any of the issues. In most cases things just go along according to Hoyle. If money is made then everybody is happy. If money is lost then most people take the hit and get on with life. The fact that you may never be caught however does not make it all right to use this concept with impunity.

As with all elements in real estate, you have an obligation to yourself and to those you do business with to be honest, open and upfront. You need to understand everything possible about a transaction and make your decisions wisely. If you’re thinking about buying or selling an entity, and thereby a property, be careful. The more you know the better. This tool is not as safe as some would have you believe, for either the buyer or seller. If we can help, we’d be glad to. Good luck.

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
Wir verkaufen für Verkäufer zu 100% kostenfrei
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Source by Roger Beattie