The Management Consulting Group

France has become a very popular place for overseas property buyers from the UK. It’s so popular in fact that this may be a reason for it’s potential decline. So has France had it’s day as a desirable overseas property location?

The attraction of France to its UK buyers

France has the obvious attraction to the UK buyer of being close to home. Its stunning scenery, quaint village’s, cheap property prices and a relaxed lifestyle make it a superb location. Brits who have been left with sizeable income from their own homes consider France an ideal location to buy abroad. The expansion of cheap airlines are making even the remote parts of this vast country accessible to UK buyer. London Stanstead airport for example now offers flights to Biarritz, Nimes, Montpellier, La Rochelle, Toulouse via cheap flight operator Ryanair

Too many British buyers for French consumption

It is true that some French villages are now dominated by British owners who have found the under priced French property too much of a temptation. In some areas this has caused tension. This was seen in Chamonix where British owners suffered graffiti such as English go home and petty criminality against their properties. Local French residents resented the fat wallets of the British property buyer whose lust for French property served to push prices upwards. These in turn left locals in a position where they could not afford to buy property in their own villages. In the eyes of the French the British invaders added insult by not even attempting to learn French and to integrate into the French way of life.

France is too big and the properties too varied to say its had its day

The key to buying in France is to identify the region that suits you. It’s a great idea to rent a property there to get the feel of the area. Don’t be fooled by summer temperatures. Some regions in France become bitterly cold in the winter. The northern and central zones are temperate while the south experiences an almost tropical Mediterranean climate. French property offers excellent value for money and the types of French property on sale are still varied. Farmhouses to an old chateaux, French property offers unique opportunities to own substantial buildings at a fraction of the cost compared to other areas of Europe. The Loire valley for example offers low prices and a variety of French homes for sale whilst not being over run with British owners.

France still a firm favourite

Overseas property buyers planning to buy abroad should always plan an exit strategy. When and how are you going to sell should be decided before you buy. Take in to consideration that selling a French property can be a lot harder that buying one and it is a good idea to plan for this.France has a lot of property on offer and is a firm favorite of the British .

A bit of commons sense goes a long way

Budget realistically: buyers quite often under estimate the cost of restorations. Finding the right French builder can also be difficult, you will find that building costs are higher than you expect. Always seek independent advice before buying property abroad and make sure you have any legal documents translated so you know what you are signing.

Buying property in France

Taking account the continuing popularity of France and the huge selection of French property available.It is clear that the French property market has a long future for overseas property buyers.

Nicholas Marr property articles are filled with facts and information about the property market.A lifetime property investor his UK based company Marr International owns http://www.homesgofast.com one of the fastest growing overseas property websites in Europe.

A good way to get potential buyers interested in your home is to
have an open house. Of course, you have to make sure they know
about it.

Looking Good

There is one mandatory step that must occur before holding an
open house viewing. The property needs to be spruced up so it
shows well. This probably should have been taken care of before
the property was put on the market, but review that aspect of
things before attempting an open house.

Getting The Word Out

To have a successful open house, you need a good promotional
effort. Potential buyers need to know you are holding an open
house, when and how to get there. How do you get the word out?
How about trying several of the following ideas…

1) Put a classified ad in the newspaper.

2) Post flyers (with permission) in nearby businesses, churches,
schools.

3) Post signs similar to “yard sale” signs in your neighborhood.

4) Put a sign in front of your property saying “OPEN HOUSE
SATURDAY - 10-4″ and tie helium filled balloons to it. (On
Saturday, add a sign saying “OPEN TODAY” with more balloons.)

5) Add info about your open house anywhere your home is
advertised for sale on the Internet.

6) Pay some responsible older children or teens to distribute
“Open House” flyers in several neighborhoods. (Don’t neglect
nearby business areas.)

7) Announce your open house in any community newsletter you can
get it in.

There is an endless array of things you can do to promote your
open house. Don’t hesitate to give them all a try.

Applying for a home loan can be overwhelming. You will need to contend with mountains of papers, contracts, documents; and do lots of planning and coordination. Add to that a whole language unique to the mortgage loan process and you have the makings of an experience unlike any other.

Agreeing to the terms of your home loan is no small matter. It is important to understand every word of the contract and terms to which you are agreeing. Although it may be easy to ignore terms you don’t understand now, you may be haunted by what you did not know when you are ready to sell or refinance.

Eliminate the mystery by taking the time to familiarize yourself with the terms that are common among lenders. Following are explanations of some of the most common terms used in the home loan process. Also, don’t be afraid to call on the expertise of your credit union representative. They are happy to answer any questions that you have.

Adjustable Rate Mortgage: The amount of interest the lender charges on your principal varies. ARM’s generally carry provisions for minimum and maximum interest rates. If you choose an adjustable rate mortgage, you can expect to make higher payments when interest rates move closer to the maximum and lower payments when rates hover nearer the minimum.

Annual Percentage Rate: The extension of credit is a privilege, but it is not free. The annual percentage rate of your loan gives you a picture of the annual cost of the credit that had been extended to you. You will find your annual percentage rate outlined in your initial contract, and on your monthly statements.

Appraisal: A trained professional will evaluate your home to determine its value. The estimated figure is derived from a combination of factors including market conditions and the property itself.

Closing Costs: These are costs, such as points, taxes and title insurance that must be paid at closing. These costs are not included in the cost of the home and are paid separately. Depending on your situation, there are a few lenders that may be able to extend you a loan that includes the amount of purchase and the closing costs.

Default: Failure to repay your mortgage loan according to the terms set forth in the loan contract.

Equity: This term is used in reference to the value in your home above the total amount of liens against your home.

Escrow: Your lender may hold money from each payment. This money is collected to satisfy expenses of home ownership such as taxes and insurance. If you have an escrow account your mortgage company will pay tax and insurance payments as they come due.

Fixed Rate Mortgage: Unlike an adjustable rate mortgage, a fixed rate mortgage maintains constant interest rates throughout the life of the loan.

Good Faith Estimate: Potential lenders may provide written documentation of anticipated costs and fees for your mortgage. This document is called a good faith estimate. It will give you an idea of how much you can expect to spend to secure a mortgage.

Mortgage: Your mortgage is the amount of the loan you secured to purchase your home, minus the down payment. Your home serves as collateral and is considered a guarantee for the loan.

Points: Each point represents one percent of the amount of your mortgage loan. Two points on a $100,000.00 mortgage loan equals $2,000.00.

Of course, there are a number of other terms that you will encounter during the loan process. Make sure you fully understand every word of your contract before you sign on the dotted line.

Nicole Soltau
President and Founder
http://CreditUnionRate.com/
The Leading Online Credit Union Directory

So much advice is bandied about on the internet and even on the street about what makes a sensible investment, what makes a good investment and what makes a secure investment.

Well - when you consider that for most of us our own home is actually our number one asset and that it is a strong capital appreciating asset, surely the most sensible investment decisions we can make will be locked into that real estate.

By making the decision to buy your own home you have already made the most sensible investment decision of your life! After all we’re all well aware that paying a landlord’s mortgage in the form of making rental payments each month is effectively throwing tonnes of your hard earned cash down the drain. By deciding to turn that hard earned cash into capital appreciating bricks and mortar you are investing into your long term financial security.

Here are two more sensible investment steps that you can take towards making the very most of your home and getting the very most from your home.

Step One - Make Home Improvements

A house is a living, breathing organic structure that requires constant ongoing attention and care; by keeping your home in pristine condition and paying prompt attention to any repair and renovation work that needs doing you will be managing your investment to the very best of your ability.

Just like investment fund managers constantly tweak and hone their investment decisions for the sake and benefit of their investors’ cash, so you should consider constantly tweaking and honing your home to keep it looking fresh, new and well maintained.

If you allow your home to fall into disrepair it will not only lose value but it will cost you far more in the long term to put right. Furthermore it will reduce the amount you can sell it for should you decide to relocate ever.

Step Two - Pay Off Your Mortgage

A mortgage is the only way most of us can afford to get on the housing ladder - but there’s no denying it, it’s an expensive debt to carry around and shoulder each month. The longer you take to pay off your mortgage the more interest you will have to pay. The monthly amounts you pay in interest and mortgage insurances soon add up to in excess of the original amount borrowed!

Unfortunately for us most mortgage lenders like to lock us into long term contracts with penalties for early repayment and making lump sum payments but it is possible to renegotiate mortgage terms, find a new lender and get a flexible mortgage that allows you to repay lump sums without incurring a financial penalty. The best times to do this is when it is really a buyer’s market and just like the housing market is cyclical so the lending market is too. So wait until all the adverts are on the TV and in the newspaper telling you about the most competitive rates available and how if you move mortgages the new lender will pay all your fees and then make your move!

If you’re currently locked in to an inflexible scheme consider putting aside as much as you can each month into a suitable investment vehicle which is low risk and high interest paying and then access this money as soon as you’re able to pay it off your new flexible mortgage plan.

The sooner you truly own your own home the sooner you’ll be benefiting to the max from the most sensible investment decision you’ve ever made!

Rhiannon Williamson is a freelance writer whose many articles about international property and investing in overseas real estate have appeared in publications around the world. Visit this link to read her latest articles about
Investment Property Abroad

While a person drawing a fixed salary every month finds it easy to repay loan in fixed monthly instalments, those with a fluctuating income will find it otherwise. In order to tap the potential of the latter group, which principally consists of self employed people and people whose income is largely contributed by commissions, flexible mortgages have cropped up.

A fluctuating income makes the case of these people inappropriate for regular mortgages because of two reasons. Firstly, lenders would not prefer a borrower with fluctuating income. Secondly, the borrower with such an income structure would himself find it difficult to make timely payments.

Flexible repayments, payment as and when you like, and the option to repay the whole of the loan at the time you want, are some of the qualities that flexible mortgages in the UK are characterised with.

Before you perceive this as the ultimate freedom, let us remind you that not all good things come for free. This aptly holds in case of flexible mortgages. The rate of interest charged on flexible mortgages is higher than the interest charged on the regular mortgages.

In spite of a higher rate of interest, the popularity of Flexible mortgages in the UK sees no decline. Until the time an alternative to flexible mortgage comes, self-employed people will continue using it. The advantages of flexible mortgages have overshadowed its drawbacks.

Flexibility of repayments forms one of the most important advantages of flexible mortgages. As against the traditional mortgages where borrowers are required to pay a fixed instalment every month, flexible mortgages are easy on repayment rules. Consequently, in a month when the resources are not enough or when the borrower is incapable to make repayments at the normal rate because of loss, lesser repayments will be required. Similarly, when the borrower is in the capacity to pay more than what is required, he can make an overpayment. Paying less also means paying nothing. This is actually true though hard to believe. Payment holidays form one of the prime attractions of flexible mortgages. During a payment holiday the borrowers gets exemption from making payments altogether. The exemptions will depend on the borrowers regularity in the previous months and if sufficient balance of the loan has been overpaid.

Next in the list of advantages, is the facility to draw as many times from the amount paid. Thus, flexible mortgages have the provision to allow borrowers to draw from the amount that they have already paid. This again requires the borrower to have made enough repayments before the use of this facility is made. While this creates a constant source of funds for the borrowers, it also increases the length of period for which the mortgage will continue and the interest burden.

Since there is a constant change in the balance that is remaining to be paid, charging interest annually or monthly would be costlier for the borrower. The third advantage of flexible mortgage deals with an ingenious way to lessen the interest burden. Interest in flexible mortgages is calculated daily. The daily calculation of interest ensures that periods in which the balance unpaid is less because of overpayment does not lose on the interest.

The list of advantages does not end here. Premature settlement of accounts is a facility that is singly available in flexible mortgages. Unless otherwise stated, mortgagees will charge a premature payment penalty. Flexible mortgages, on the other hand, allow borrowers to repay the mortgage before it is due without any penalties. A borrower who wants to escape the high interest rate will find this clause in their favour. A loan taken to meet an occasional deficit in finance will be paid as soon as the borrower receives the necessary resources.

Depending on the credit status a borrower enjoys, he will get flexible mortgages accordingly. The application procedure of the flexible mortgage is very similar to the regular loans and mortgages. Online applications and online processing helps in accelerating the pace of approval of flexible mortgages.

Agnes Powel is a financial analyst by profession. The academic qualification of MBA (Finance) from University of Central England matches his credentials. Years of experience in has given the field of lending him an insight into the various intricacies of the loans market. Through his articles, he tries to share this knowledge with the prospective borrowers.To find Mortgage,first time buyer mortgage,but to let mortgage that best suits your needs visit
http://www.easymortgageuk.co.uk.

A “subject-to” offer simply means that the buyer is willing to purchase a piece of property “subject-to” some specific circumstance. Usually that circumstance will be the sellers existing mortgage. It can also be a variety of other things. One of the most common “subject-to” clauses in real estate contracts is “subject-to” buyers inspection. But for real estate investors, the most common use of the term “subject-to” is in relation to purchasing a property “subject-to” the sellers existing mortgage. This means that at closing, the property is titled in your name, but the loan is still in the sellers name. Therefore, you are buying the property “subject-to” the sellers existing mortgage payments.

What are the advantages of “subject-to”?

The most common advantage is the idea that you are buying without the need to qualify for a new loan. When you purchase a property “subject-to” the existing mortgage, the seller is basically agreeing to allow you to take possession of their property, and pay their existing mortgage payments. Since you are not qualifying for a new loan, and the existing loan is in the sellers name, it is the sellers credit that is at risk, not yours. This means that you are buying without having to worry about having good credit.

Why would a seller agree to allow you to take over a loan that is in their name?

There is definitely some risk involved for a seller who agrees to sell a property “subject-to” the existing mortgage.
For one thing, if the buyer decides to walk away from the deal, or fails to make those mortgage payments, the seller is the one who will suffer. A sellers credit rating could be ruined by a buyer who fails to make the mortgage payments on time. Therefore, most sellers are very reluctant to agree to “subject-to” terms unless they are highly motivated to do so.

Seller motivation is the most common reason a seller will agree to this type of arrangement. There is usually some extreme circumstance or personal issue that is forcing the seller to do something they might not ordinarily do. This is why we often say that you are looking for motivated sellers, rather than houses, especially when it comes to creative financing options.

I once did a “subject-to” deal with a seller who was getting married and moving out of state. She had been trying to sell her property for several months, with no takers. It was in a great area, in a nicer neighborhood, but the house needed some updating and the colors were rather drab inside.

Time was running out. The wedding was only weeks away, and the seller was planning to take up residence with her new husband in his house. Because of this she was motivated to sell the property any way she could.

She accepted our offer to buy her property subject-to the existing mortgage, for two years. That meant that we had two years to get new financing and pay her off. She understood the risk to her credit and was concerned, but we were able to produce references and other documentation that made her feel comfortable doing this deal with us. Had she not been in the position she was in, she likely would never have agreed to accept a sale that would leave the mortgage in her name, so motivation was the primary factor in this deal.

We updated the house, and sold it a few months later to a buyer who was able to qualify for their own mortgage, so the seller got her money about a year and a half earlier than expected. We had planned to lease/option the property to a buyer if necessary, then help them get qualified for a new loan. As it happened, we did not need to do the lease/option to get a buyer. Of course, we did spend some money fixing the property up first. This helped us find a qualified buyer faster than anticipated.

The “subject-to” arrangement allowed the seller to solve her immediate problem. It also allowed us to buy the property without having to qualify for a new loan. Everyone was happy.

Another time, I did a deal with an investor who sold to us “subject-to” an existing mortgage on a multi-unit property. He was motivated to get out from under the payments on this property due to some other financial problems he was having.

When writing “subject-to” offers, you need to get the seller to provide you with a copy of the current mortgage terms. You will want to include these terms in your offer, so that they are spelled out to the letter.

For example:
“Offer price $125,000 dollars, subject-to existing mortgage payoff of $95,780, with payments of $789 per month, principal and interest, (the sellers current payment) interest rate 6.5%, for 24 months. After 24 months, buyer will obtain new financing and payoff existing mortgage balance. Buyer also agrees to pay seller $5000 cash at this time”.

So we are going to carry this note for up to two years, and when we either sell or get new financing, we will pay off the sellers existing loan, and we will owe the seller an additional $5000 in cash.
24 months is used in this example, but of course, your terms and time frame will vary with each deal.

You can put in any terms you and the seller agree to. It just depends on the situation and the level of seller motivation. Just keep it legal and moral.
You can’t enforce terms in a contract that are in violation of existing laws, or attempt to circumvent legal procedures that are required by law.

If the sellers payment also includes an amount for taxes and insurance, you would want to specify that too. You want to be sure you clearly document the exact terms of the existing mortgage. You will usually need your own insurance in your name, since you are the title holder of record, even if the mortgage is in the sellers name. Discuss this with your closing attorney to be sure you handle this correctly.

The payment and interest rate are taken directly from the sellers existing loan terms. You are merely documenting them in the offer, so that you are clear on how much you are paying each month. If there are additional arrangements, such as a second mortgage, or other terms you and the seller agree to, you should make sure that they are also clearly documented in the offer.

Writing a good offer is really just a matter of making sure every specific detail of your agreement is stated in terms that are clear. Should you ever wind up in court over contract, a crucial issue will be the clarity of the terms in the agreement.

You may want to have your attorney review the terms of an offer before you and the seller sign it, to insure things are correctly stated. It is pretty basic stuff, but if you need advice, get it BEFORE the seller accepts your offer. Don’t risk making a mistake if you are not sure how to word your offer. This article is not intended to be a substitute for legal advice.

As with any deal where you are taking over the payments, you want to be sure that your exit strategy will work with this existing mortgage. For example, if you agree to buy a property subject-to an existing payment of $925 per month, and hold it for rental, be sure the rent will be higher than the payment and expenses. This sounds like a no-brainer, but sometimes people get so caught up in the idea of buying property without having to qualify, that they forget to make sure that the numbers make sense.

If you are paying $925, but the property will only rent for $875, that ain’t such a great deal is it? Just because you can buy a property “subject-to” does not mean you should. Make sure the numbers work for the exit strategy you intend to use. If you are going to fix and resell, you should check comps and be sure you can sell for an amount that is higher than the payoff on the existing loan. Don’t forget to include all of your anticipated expenses.

You should have at least $10K or more left as profit. Most professionals like to see more than $10K. Some have a minimum $20K profit margin, simply because you can always incur more expenses than expected. Extra profit margin in the deal helps guard against losses.

Your offer price plus all repairs and expenses should not exceed 80% of what you know the property is worth. (Note I did not say what you “think” the property is worth) You must double check and be absolutely as sure as you can be. Pay for an appraisal if you must, but the ARV has to be right. I have suffered the consequences of that myself. It is an easy mistake to make, even when you THINK you know.

Use 80% LTV as a general benchmark to judge your deal numbers. If total cost is above 80% of the after repair value, the deal gets less and less do-able. At 80% of ARV, the cash flow is generally positive and there is enough margin to produce at least a 10K profit. The farther below 80% you can get, the better. This is a good rule of thumb for those who are buying to hold for rental or retail. It gets more difficult to break even if you get too far above 80% of ARV.

Closing a subject-to deal is like closing any other deal. Paperwork will usually include a document that the seller will sign, which will be sent to their mortgage company. It will notify the lender that the seller is now assigning management of this property to “xxx management company”. It will also direct the lender to send all correspondence related to this property to the management company address. This may vary in your state. Discuss the details with a competent closing attorney.

There is a long standing argument about whether “subject-to” deals trigger the “due on sale” clause commonly found in virtually all mortgages these days. This due on sale clause says that the lender can call the loan due if they find that the title of the property has changed hands without their knowledge. There are many people on both sides of this argument, but to be honest, this is a change of title without the lenders direct knowledge, and in my opinion, this does give the lender the right to invoke the due on sale clause. If the lender did call the loan due, you would have to be prepared to sell or put other financing in place.

I have knowledge of many such deals, where there was no issue with the due on sale clause. But more recently, I have seen a few lenders taking a harder line and threatening to call some loans in.

If the numbers are good enough, I would do a subject-to deal any time. As long as I have enough equity in the property, I feel that the deal is worth doing. And being able to buy without qualifying is a nice benefit.

Donna Robinson is a real estate investor, author, and consultant located in Atlanta Georgia. You may read more of her articles on her website at http://www.RealEstateInvestorHelp.com or you may contact her by email at drobinson@reihelp.com or call 404 542-9903.

Home loans are available to homeowners from our market leading lenders to use for home improvements, a holiday, their children’s education or to pay off outstanding debts. What you use it for is up to you. Home loans are secured on your home which means that your home is used as collateral or insurance against the loan. This is a lower risk to the lender because their investment is covered but it is greater risk to you because if you do not keep up with repayments of the loan you could lose your home through repossession. Because of the lessened risk to the lender, you’ll find that home loans are cheaper than unsecured loans.

Home loans range from small to large amounts and differ greatly depending on repayment terms and periods. These can also vary from one lender to another so it’s a good idea to compare their products before you choose which type of loan you want. The amount you borrow is subject to a fee or interest charge and the amount applied is called the APR or Annual Percentage Rate. When you compare APRs from different companies you’ll get a good idea of which are the most competitive. You’ll also notice that APRs are lower if you shop and apply online as apposed to applying by telephone or mail. This is because overheads for online companies are lower and this saving is passed on to you. So to get the best deal it makes sense to take a look at a competitive comparison of the top lenders - that way you’re assured of getting a choice of top products. To do this, just fill out the simple online form below.

It is also important when considering home loans that you are familiar with the different ways in which lending companies quote interest rates. When a fixed interest rate is applied, your monthly repayments will remain the same for the entire term of the loan, no matter what happens to the bank base rate. With a variable rate on the other hand, your monthly repayments could go up and down throughout the term of the loan as the bank base rate fluctuates and this would make budgeting rather difficult. You will also notice that with home loans, loan companies refer to very competitive typical interest rates. This is purely an indication rate for their company and the exact APR you’re offered will depend on the amount you wish to borrow, the length of time you’ll take to pay the loan back and a personal assessment of your financial circumstances by the lending company.

Looking at APRs is a very strong indication of what home loans will cost you but there are other factors to be considered. For example, should you wish to settle your debt in full before the agreed end date, you may find that the lender has a redemption penalty clause in the contract. This means that they could charge you up to two months interest if you want to settle before the due date. It would pay you to check this before you commit to home loans as this could make your loan a lot more expensive if you do wish to pay off your debt early. In this case it may be better for you to look for loans that have no redemption penalty but perhaps have a slightly higher APR.

This article has been produced by 24 Hour Loans.

Providing personal loans for homeowners and tenants in the UK.

If you saw my father on a normal day, you’d feel sorry for him.
His clothes are worn and coated with a mosaic of dirt, paint,
and other unidentifiables. His boots are solid blocks of mud.
His head is covered with a worn-out baseball cap, usually soaked
in sweat.

You’d think he was a beggar. But he’s not. He’s one of the
wealthiest and fastest growing landowners in northern
Mississippi.

Movies and television have created a stereotype of the
millionaire, and like most stereotypes, it’s completely false.
Rich people don’t drive fancy cars, live in mansions, or cart
around entourages of sexy playthings.

They know better. As one of my most successful mentors told me,
“Getting rich is not about how much money spend, but about how
much money you keep.”

To illustrate, here are some comments from my investors:

A car payment? Why, I can’t remember the last time I made
one.

About a year ago, my father invited all of our investors to a
private conference in his home near Memphis, TN. You’ve never
seen so many rich people. If you tallied up the net worth of
everyone in the room, I’m sure you’d go well over $100 million.

When I drove up to the house though, all I could do was laugh.
Looking at all of the cars in the driveway, you’d think you were
at a retirement home. The newest car in the driveway was from
1998. The majority of them were models from the 80s… and
older. None of them were freshly detailed or flashy. You would
have never guessed that all of them were owned by millionaires.

Talking to the investors about them was also interesting. I
didn’t ask everyone about their car, but the few I talked with
told me they’d paid for the car in full a long time ago. They
were also focused on regularly maintaining the car. Performance
was just as important as price.

Buy a mansion? God no. Who needs all that space?

Knowing how to leverage their money and tax benefits, you’d
think millionaire real estate investors would live in huge
houses. But you’d be fooled, once again. Most of the
millionaires I know live in modest houses in good neighborhoods.
The average value is probably around $300,000.

They also own the houses debt free. Usually, they bought their
house years ago for a steal in a good area, and then they lived
there while it appreciated. To properly leverage their equity,
they keep credit lines open, so they can take advantage of
short-term opportunities.

Wear a suit? No, I prefer to work in my underwear

Through a series of coincidences over the years, I’ve learned
that nearly all of my investors work in their underwear or
pajamas. When they’re forced to leave the house, they usually
wear sweats or khakis. During the past five years, I’ve never
seen one of them wearing a suit.

They have three reasons:

* Cost. Dry cleaning is expensive. You save money by dressing
down. * Practicality. Investors deal with a wide range of less
fortunate people that distrust people in suits. * Comfort. Suits
are uncomfortable, so unless you have to impress your banker,
stay comfortable.

The Moral of the Story: Live like a Millionaire and You’ll
Become One

Not surprisingly, the most successful real estate investors I
know are the most frugal people I know. I’m not talking about
being miserly either. They live exceptionally well, but they do
it with less money and more attention to practicality than
pizzazz. If you want to get rich, act like them. Start living
below your means and you’ll see your wealth grow much faster.

Also, I’ve learned to be suspicious of people driving fancy cars
and living in huge houses. While some are genuinely wealthy,
most are in debt up to their eyeballs. They’re usually insecure
people, trying desperately to convince everyone they’re rich. To
use a metaphor:

You can judge a book by it’s cover, but remember, the classics
are rarely new and shiny. Their faded covers are evidence of
their survival and their tattered pages were created by the
hands of countless loving fans.

The condo hotel concept provides benefits for the
developer as well as for the buyer. Developers find it easier to
obtain financing with condo hotels than with traditional hotel
projects, plus the cash infusion of the sales helps their bottom
line. Buyers benefit by owning a property in a luxury resort
that they can use for themselves, and take advantage of the high
level amenities. When they are not using the condo hotel, the
unit is put in the managed pool and rented out for them. The
buyers have what is considered “hassle free” ownership. The condo hotels unit owners also benefit from having a
professional onsite management company to handle to marketing,
booking of their room and general expertise that they bring to
the table. If a problem should arise with their condo hotel
unit, the management company will take care of it instead of the
owner having to worry about it. This makes the traditional
landlord tenant issues a thing of the past. The condo hotel
buyer sees the benefit to owning a vacation property that also
has the potential to produce income for them. The typical condo
hotel produces higher levels of income than the traditional
vacation home (and less headaches), making it all the more
appealing to buyers. Developers are finding it hard to keep up
with the demand. Many of the condo hotels are selling out before
ground breaking occurs. Condo hotels are different from
traditional condos because the are sold “turn key”. This means
buyers do not have to worry about hiring a designer or contactor
to come in to finish out the unit. Everything is included from
linens, dishes, pillows etc… The South Florida condo hotel
market is leading the way with many of the names you know such
as the Four Seasons, Starwood, Sonesta, Ritz Carlton and the
Regent to name a few. Pricing for condo hotels can range
anywhere from $400,000’s up to $8 million for larger luxurious
oceanfront properties. Of course the pricing depends on
location, views and types of finishes. The Cheeca Lodge in
Islamorada (Florida Keys) has enjoyed great success for its
clientele. The Cheeca Lodge is currently converting rooms in the
existing hotel but has plans to add more to the property. The
property sits on 27 lush acres and has 203 guest rooms,
including 48 suites that all have full kitchens. In addition,
Cheeca Lodge offers an extensive range of services and
amenities. The W Hotel and Residences South Beach will soon be
ready to launch. The W is one of the hottest names in the hotel
industry. The development team for the W Hotel and Residences
South Beach combines some big names in the field - Tri Star
Capital, Related Urban Development (The Related Group of New
York and The Related Group of Florida) and Starwood Properties.
Expect a Wow lobby spectacular interior design and some ultra
deluxe hotel rooms designed by Costas Kondylis of Kondylis &
Partners. All units are sold completely finished and furnished -
right down to the table settings; price range, $800,000 to $5
million. Starwood and the Related Group of Florida have
announced that they are joining forces to develop the St. Regis
Resort & Residences in South Florida’s most exclusive enclave,
Bal Harbour. The St. Regis Resort & Residences will be built on
the existing site of the Sheraton Bal Harbour, will be located
on the pristine sands of the Atlantic Ocean directly across the
street from the legendary Bal Harbour Shops. The St. Regis
Resort and Residences is one of the most highly anticipated
project to ever hit the South Florida market. Canyon Ranch
Living is the next step for Canyon Ranch’s evolution and will be
located on a 6 acre oceanfront parcel in Miami Beach. Canyon
Ranch Living will offer 151 condo-hotel suites and 467 one, two
and three bedroom and penthouse condominium residences, plus a
60,000 square-foot Spa & Fitness Center. Turnberry Associates is
bringing the Fontainebleau to a whole new level with the
addition of the Fontainebleau II and Fontainebleau III Ocean
Club. Turnberry is leading the way with condo hotels anchored to
existing very successful hotels such as the Residences at MGM Grand Las Vegas , and the Residences at Atlantis Paradise Island
Nassau Bahamas. The MGM Grand Residences Las Vegas broke
ground recently on its first 40-story tower, spearheading a wave
of condominium-hotel growth that has begun to sweep the Las
Vegas Valley. The Residences at Atlantis is a joint venture
between Turnberry and Kerzner International that will bring 500
luxurious new rooms to the project. With so many condo hotel
projects on the market or in the planning phase, you need
someone who can find the one that is right for you. The new
condo hotel section at www.HansenHomesAventura.com can help keep
you on top of the latest projects so you can be one of the first
to buy.

If you have Tampa Bay Florida real estate, Pinellas County real estate or Clearwater property and are looking to put your home up for sale, you have a thousand questions that you need to ask yourself. The first question you need to ask is do you need to use a real estate agent, or can you sell your home on your own?

Unless you have experience in selling homes, or have sold your own home before and know what you are getting yourself into, you should hire a professional real estate agent. The business of selling homes is quite intricate, there is a lot of legal paperwork to fill out, a lot of questions and answers that if you answer them incorrectly can cost you thousands of dollars, which is far more money than you would have ’spent’ on a real estate agent.

Your Clearwater Property is worth something to you, it’s not just a home, it’s an investment. No matter how long you have owned your Tampa Bay real estate, Pinellas County real estate or your Clearwater property, it has increased in value and has become an investment that you want to protect. By attempting to sell your property yourself, you could be losing out on your investment and cost yourself more money than you will make on the sale.

Real estate agents are licensed professionals who know how to sell property. They are skilled and knowledgeable about the ins and outs of all the intricacies that revolve around selling property, from the initial advertising to the close of the deal.

Imagine this: You decide to sell your home yourself and you put a listing in the paper. ‘Interested people’ start calling you at all hours of the day and night telling you they would like to come and view your home. You wait all day and finally someone, who looks a little shady, comes to your door and you lead them ceremoniously through your home, pointing out all the great features so they will want to purchase your home. In the mean time, this shady character is looking at where you keep all your valuables and finding the points of entry into your home that will be easiest for him when you are not home. That sounds like fun, doesn’t it?

If you already have your home listed as a ‘For Sale by Owner’, take a look at your track record so far. Have you had anyone come to look at your home, or anyone that was interested in your home? Real estate agents are trained professionals, they know how to gather prospective buyers that allow you to sell your home, especially your Tampa Bay real estate, Pinellas County real estate or your Clearwater property.

I know what you’re thinking — how hard is it to sell my own home? You are thinking that no one knows your home better than you do. After all, you are the one that has lived there for however many years, and know just where all the good things are, and where all the ‘bad things’ are. A real estate agent that has spent years selling and buying homes can probably help you sell yours, faster and cheaper than what you can on your own.

Real estate agents have access to listings that you can not access. A professional real estate agent can list your Tampa Florida Real Estate, Pinellas County real estate, or your Clearwater property across the country with one or two faxes or clicks of a computer button. They are the guys in ‘the know’ on where to best market your home so it will sell quickly and at a fair price. Your real estate agent will work for you, to get you the best price for your property. The minor commission fees that they charge will be small in comparison to the charges you will incur trying to sell your home on your own.

Let’s not forget that time is money. It is better to sell your property in a week or two using a real estate agent than in five months on your own, right? Absolutely!

Find a real estate agent that can take the ‘for sale by owner’ nightmare off your hands and turn the sale of your property into the dream you deserve.

Bob Lipply is a licensed broker associate with Remax Realtec in Palm Harbor, Florida. He has many years of experience in selling Tampa Bay Florida Real Estate and has helped many families relocate to Florida and find their dream homes. Visit his website at Pinellas County Real Estate or contact him direct at 1-888-423-5775. e-mail address is info@lipplyrealestate.com.