Tag Archives: real estate

Key Players in 1031 TIC Investments

Couple meeting a broker about property investmentProperty investment is a landmine, so due diligence is essential. One of the vital areas in property investing is the taxes involved in your transactions.

Though property investment taxes might be substantial, the IRS code 1031 allows you to defer your taxes and grow your wealth fast.

A tenancy in common (TIC) investment is one which allows you to co-own commercial property with other investors. 1031 TIC investments like the services offered by 1031 Exchange Place can be difficult to navigate when you don’t have much expertise in the matter. Here are some key players involved in these investments.

Qualified Intermediary

This expert drafts all legal documents required to structure your properties properly for a 1031 exchange transaction. They hold and preserve the settlements from your sale proceeds to keep you from getting constructive receipts on your assets and triggering an event which will be taxable. A qualified intermediary will also review your transactions for federal code and regulation compliance.

TIC Sponsor

The stringent financing and equity requirements of a large commercial real estate might prove a hindrance to small-scale TIC investors. TIC sponsors have interests in large properties and allow small investors to purchase small or fractional property interests. These interests are called TIC interests and are sold as like-kind replacements for 1031 exchange investors.

TIC Broker

A TIC broker mainly serves a supervisory role in your transactions. These professionals are licensed and will help you identify the best deals in the market for your 1031 TIC exchange investment. The broker will also help you scrutinize your PPM (private placement memorandum) that contains all the information related to your transaction.

With the above players involved in your 1031 TIC transaction, you can be sure that you won’t suffer any buyer’s remorse about your investment. When handled well, a 1031 TIC investment frees you from the daily hassles and headaches of property management and greater liquidity. It also saves you on regular closing costs and property appraisal fees.

What to Ask Your Conveyancer

Couple Sold Their PropertyWhen buying or selling property in the UK, you should find the right professional services that could help make it a smooth transaction. The right conveyancer can help smoothen the process and help you complete the property deal.

But asking for conveyancing quotes and doing background checks are only the beginning. There are other methods to help you know more about your potential conveyancers. One of these is knowing the right questions to ask.

What are your credentials?

Ask your conveyancer if they have the legal credentials to practise in the UK. They should know the policies when it comes to buying or selling properties in England, Wales, and Scotland. Consider their years of experience, and if they have taken the Conveyancing Licensing Exams from the Council of Licensed Conveyancers.

How much do you charge?

Rates differ depending on the property’s value and tax regulations. Some conveyancers charge you legal fees for the solicitor and disbursements for documentation and other transactions. Some conveyancers also add additional fees for estate agent’s referrals, so you should know the kinds of expenses you need to pay for your property deal.

What do I need to prepare?

Ask your conveyancer the kinds of documents you need to prepare for your property deal. Often you can get a copy of these documents from the Land Registry. Your conveyancer should know the fees, the kinds of records, and the process for acquiring these papers.

Do you have time to manage a particular case?

If your property purchase requires special attention or advice, you should ask the conveyancer if they could manage the workload for your case. They should also have the technical experience to handle your situation.

Work with a conveyancer that understands the legalities surrounding your case, and with whom you can converse openly. Ask these questions to find one who can guide you in the right direction.

What Debt Enforcement is All About

Modern apartment buildingWhen you run a business, one of the things you should be aware of is going into debt. Debt is the single most common reason businesses go under. They are unable to manage the debt they have and end up having to close down to pay the debts.

This is why there are many debt enforcement companies in the UK. In fact, it is a very lucrative business. Debt enforcement agencies cover a wide variety of services such as recovery of commercial rent, lease forfeitures, repossessions, and much more.

But are these companies really necessary?

How Debt Enforcement Works

You see, when a company or individual goes into arrears, they usually end up being in breach of a contract. Their debt is then transferred to a debt enforcement company. The company or individual will then have to settle their accounts with that debt enforcement agency.

In turn, the company gets a cut from the payments made to them. But why would individuals or companies be alright with a debt enforcement company taking a cut from what people owe them? The answer is very simple. Uncollected money is as good as no money at all.

So, if a company can collect on their behalf, then they are very much willing to let them have a cut if they can collect. Often, this is motivation enough for a collections company to make every opportunity to get a payment from the ones who have not made a payment.

In extreme cases, a debt enforcement company will have a certificated bailiff and levy distress by repossessing land and property. If the debtor cannot make a payment, the properties will be sold or auctioned off until the amount owed is paid.

In this way, the company or business whom the money is owed to can recuperate their losses from the unpaid rent or lease.

The Necessity of Debt Enforcement

The thing about debt enforcement is that debt that remains uncollected is not useful to anyone. The money owed to debt needs to circulate as it allows for the stimulation of growth in many countries. In fact, if you have a lot of unpaid debt to a company, that company may close down as they are not receiving the money they need to continue running their business.

Debt enforcement also allows an opportunity for landlords to get a part or most of their investment and recover their losses. In many cases, a landlord may depend on rent money as their main source of income.

If they could not recover their loss from their previous tenants, then they run the risk of not having enough to pay for their own needs and services they use.

Debt enforcement is definitely an interesting line of business. It may not be for everyone, but many need their services as many companies and individuals can easily fall into debt.

Three Things About Reverse Mortgage Programs You Might Not Know

A conceptual look at variable mortgage rates.About 49 million US residents turned 65 years and older in 2016, which is about 15% of the total population. Many of these people are baby boomers, about 80% of whom own their own homes. Unfortunately, they do not have much else.

Many retirees struggle to make ends meet on their monthly pensions because of high healthcare costs. Those who own their own homes turn to reverse mortgages to add to their income. It is the perfect fit for some homeowners over 62, but not for all. Here are three things you may not know about a reverse mortgage program, according to Primary Residential Mortgage, Inc.

Age matters

Any homeowner over 62 can qualify for a reverse mortgage. However, what you might not know is that the older you are, the more cash you can get. This is because reverse mortgage calculations include the probable term of the loan. This makes sense because the loan matures when the borrower dies or sells the property, whichever comes first.

Interesting options

Not all reverse mortgage lenders are alike. The interest rate you get for a reverse mortgage program will depend on the lender. Reputable lenders follow strict regulations that protect reverse mortgage borrowers. When choosing a lender, find one with a good reputation in the market. Ask friends, family, and your financial adviser for recommendations.

Net proceeds

The money you receive from the lender will not be the amount of the loan. This is because you have to pay for fees and costs. The first thing that will take a chunk out of the money is any balance left on your mortgage. Even if you have fully paid the mortgage, you still have to pay for mortgage insurance, application fees, lender fees, and closing costs. Your lender is obligated to explain all these costs to you before you commit to an agreement. If this does not happen, find another lender.

A reverse mortgage program is a good way to add to a retiree’s monthly income. However, it is not without costs. You’ll be all right as long as you know everything you need to know about reverse mortgages from your lender. To be on the safe side, find a lender with a good reputation for taking care of their clients.

3 Things to Consider Before Buying a Condominium

Beautiful condominium with a poolIn recent years, it seems that more and more Americans are buying condominiums for their main living space, investment, and even money-making venture. If you’re currently looking at rockportproperties.com homes for sale in Rockport, you might be thinking of the same thing. Here are three things you need to consider first before making that condominium investment.

First, you need to determine your budget

Of course, the first step in making any purchase is to determine how much you’re willing to spend. It’s always easy to shop for properties for sale online and offline, but you end to have an estimate of the figure you’re willing to let go to purchase the condominium of your dreams.

If you’re new to this, it is advisable that you hire a financial adviser to explain to you some of the processes and expenses involved in purchasing real estate, including mortgage terms and payments, property taxes, and maintenance costs. Knowing well how much you need to shell out will help you determine if a 3-bedroom condominium is better for you instead of a penthouse.

Consider the neighborhood

For most people who live in busy cities, they buy condominiums so they can live closer to where they work. If you’re buying a condo for work-related reasons, you might as well consider buying one in an area near your workplace or transport hubs. If you’re buying one for leisure, check for available condominium units in places that you prefer, a quieter area perhaps? But if you’re looking to buy units for money-making ventures, such as renting it out to vacationers or students, you might want to buy in areas near tourist spots and schools.

Check the amenities

Not all condominium properties have a full range of amenities. If you’re buying a condominium because you want to enjoy the gym and pools, check them out and gauge if they’re worth the price you’ll pay. After all, some gyms and pools in condominiums are not worth it; you might want to get a membership at a sports club instead.

Buy a Condo in Rockport Today! People buy condominiums for various reasons. Regardless if you’re buying for leisure or business, consider these factors before making a purchase.

Get The Best Home And Improve Your Home Owning Experience By Making 3 Essential Considerations

Beautiful House Along the BoulevardWith the price of a new home running into hundreds of thousands of dollars, you need to plan the process of buying with utmost care. For most people, the home amounts to the most expensive purchase they will ever make. Whatever you do, you should not jump into the process without adequate preparation. Otherwise, you would be courting certain disaster.

Can you afford it?

The state of your finances is the single most important factors to that underlie your chances of success. As such, you need to take a fine tooth comb through your finances before settling on a budget. The amount of money left over each month after paying your bills should serve to guide the process. Among other factors, the bank will look at your income to determine eligibility. Again, the available budget can help you to narrow down the selection, saving you valuable time.

Are you happy with the location?

Buying a home in the wrong location can ruin your entire dream and leave you quite frustrated. Hence, you need a thorough research into the neighborhood before making a decision. Consider the proximity to schools, malls, health care facilities and your place of work. Most importantly, look out for future development. Be wary areas with plenty of open spaces and unrestricted plan of development. A manufacturing complex could set up shop in the future and ruin the ambiance.

Have you considered the future?

When browsing through the various new town homes for sale in Salt Lake City, you should consider your future. Don’t settle for a large house if your kids are already in college or are soon leaving for college. You might be left alone in a grand mansion that costs you a fortune every month. Rather, you should pick a smaller and cozy house with a homely feel.

Buying a home is a delicate process that requires a considerable amount of planning and preparation. Addressing some crucial factors enables you to make the best decisions and have a successful home owning experience.

Important Real Estate Terminologies Every Homebuyer Should Know

Purchasing a House in TruganinaHome buying can be a long, complicated process that involves a lot of money. If it’s your first time to do this, then you must know the basics of real estate to make sure every decision you make is the best one. Aside from working with a real estate agent, you must also know important terminologies yourself to understand what’s going on. Here are some terms you must familiarize yourself with as early as now.

Home Listings

WestbrookEstate.com.au defines a home listing is a list of all the homes for sale in Truganina and other specific locations. This is what real estate agents refer to when trying to find the home that best fits your needs, budget, and preferences. The listings include every important detail about the house, including its selling price, number of rooms, total area and neighbourhood information.

Comparative Market Analysis

Properties in every geographical location and neighbourhood have a certain price range depending on how well they are doing in the real estate industry. A comparative market analysis is a thorough but simple assessment of properties that just were sold. This is one of the most important factors in deciding on a sensible price range for the properties.

Contingencies

Contingencies are conditions you can set once you finally decide to extend an offer to buy a house. Most of the time, homebuyers decide these alongside their trusted real estate agent for guidance and to make sure they’re practicing their rights correctly. Contingencies are usually steps the seller must take to give you peace of mind about the home purchase. This includes appraisal, complete home inspection, and great financing options.

When buying a home, it’s quite impossible not to come across these terms. That’s why it’s best if you learn them before you begin the home buying process. This way, you won’t be clueless during important conversations and you can make right decisions.

Should You Invest in a Property in Tokyo?

Property in TokyoTokyo is home to thirteen million citizens, as of the last census. It has a great transportation system, a colourful food, fashion and pop culture, and is transitioning to become the most eco-friendly city in the world.

Despite this, Tokyo has dropped from the ranks as one of the most expensive cities in the world. That means it’s now a little more affordable to live in the capital city. Nevertheless, properties in Tokyo remain at the more expensive end of the spectrum. This makes it all the more important to ensure you are making the right decision when purchasing or investing in properties in the capital city.

Settlements and Apartments

Home to millions of tourists and transients, Tokyo has plenty of options when it comes to hotels and small apartments. Most of these are for short-term rentals only and are obviously catering to the large and growing tourist demographics.

This shows that investing in a property in Tokyo is still a solid and lucrative venture. The key is to find a property in a sector that is strong and is expected to grow even more, such as collegiate education or tourism. You can put it up for rent as well, and you will see how quickly you will earn from the investment.

Resale Value

You can never go wrong with a property in this bustling city, as prices usually go up at the end of the year. The key here is to buy the property either at the beginning of the year or before it hits summer. Find a dealer and a broker that works independently to avoid commercial or ‘prestige pricing’.

Look up various property listings in Tokyo and see which properties best fit your needs or your investment prospects. Compare prices and focus on a location that meets your interests. Any investment can be wise with proper research, planning and consideration.