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Property Investment – 6 Things To Consider Before Investing In Property

Investing in property is not a new trend in business, but with time it becomes common that every 2nd person is interested in the property investment business. It is not compulsory that the investment brings a positive return to your investment business, but most of the times it does.

Investing your money in the right real estate can bring sweet fruits in the future. It is getting popular among people to spend money on property. It is the safest way to lock your money in a fixed place, and if done smartly, property investments are highly profitable.

Seeking the advice of an expert property investment consultant is also a popular option for the novice property investor. Using an expert like Dina’s property investment consultants will make choosing the right investment property a much easier and more profitable experience.

However, there a 6 essential points to keep in mind when you consider property investment for yourself. These safe points help you to make better decisions and reap the benefits of smart and timely decision making.

1.    The Location: right property in the right place

The location of the site is of high significance. It has a direct effect on the price and value of the property. Consider the approach of the site and the places near the property which interests you; it can help you have an idea of what the market value of this site can be in the future.

2.  Know the Developer: should be experienced and professional

Invest a little time in researching the developer. Ask around the market about the developer`s project (past and future). Know the developer`s market and professional reputation before investing your money in property. It can save you a lot of trouble in the future.

3. Make Personal Visits to the Site without your Realtor

When you tour the place with your realtor, he only shows you the selling points of the site. To know better about the location and value of the site, you should plan random visits. Familiarizing with the surrounding neighbors is a smart way. It clears your mind on whether you should invest your money in a particular property.

4. Check the Legal Status and Complete Papers of the Property

You have got the right piece of property for investment. Always ask for a copy of the original documents of the property. Once you have the copy with you, take it to the issuing authority for verification. You have to be entirely sure about the paperwork before you proceed. You do not want any trouble in litigation. Thoroughly check if the property is free of bank loans or disputes.

Price: don’t miss the nitty-gritty charges

Most realtors only mention the actual cost of the property. They skip the nitty gritty charges that are attached to the property. Like the development charges, property taxes, transfer fees, etc. Make arrangements for the finances keeping these additional expenses in mind.

6. Resale Value of the Property

Planning for the future is the reason why you are investing in the first place. There are many points which can help you devise an expected resale price of the property in the future. Considering the resale price is a must. If the property has no resale value, then investing in it will not be very helpful.

The location of the property and the developments near it are significant factors to determine the resale value. There are some other things which increase the value of a property like if a government project is developing nearby, or the site location is getting a new road link in the future. Some developments have an extension plan, or maybe something new and happening is about to open in the neighborhood. Researching on each aspect exhaustively before investing in property will help you make a better decision regarding resale value.

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Real Estate Investing for Beginners: Tips That Can Help Beginners

Real estate investing for beginners can seem a bit intimidating, and it may be easy to get lost in the sounds and lights of the various books, blogs and television gurus offering advice to beginners. To help you start your journey to find financial freedom through real estate, I have come up with some real estate investing for beginners tips that will be very beneficial to you.

Tips on for beginner real estate investors

Be resolved

You should always remember that investing in real estate is not a get rich quick scheme. You will have to struggle to become a successful investor. Know that you will make mistakes and fail at times but take those experiences and turn them into lessons that will help you improve your skills.

Do your homework

Some of the real estate investors out there jump in with both feet not sure of where they are going to land. At times, these investors succeed while most of them lose a lot of money. Avoid this by studying the niche you want to invest in and learn everything you can about that niche.

However, remember that you don’t have to know everything about real estate investing. Just focus on what matters so that you don’t get overwhelmed with knowledge.

Connect with local real estate investors

Look for real estate investors near you and ask them to show you some of their properties. And since most of the investors out there like showing off their accomplishments, let them tell you about their experience as this will help you know more about real estate. Local investors usually know what works in your community and what does not work. This means that what they tell you will benefit you a lot.

Write out your business plan

You don’t have to write a super formal business plan. What are your goals? How are you going to achieve these goals? Remember that it may be difficult to succeed without having a roadmap.

Learn to sacrifice

If you want to succeed in the real estate industry, you will have to learn to sacrifice. Investing in real estate is rewarding, but you have to know that it will not always be easy. You may have to sacrifice your money, time and opportunities to achieve financial freedom. As we said earlier, this is not a get rich quick scheme.

Learn to trust basic math

Real estate investing involves basic math that is not difficult to learn. Use a basic spreadsheet to help you analyze a deal or download an investment property calculator to help you explain each every deal you do. After understanding the math, don’t deviate from it. Trust it and don’t let your emotions get involved.

Treat your real estate investment as a serious business

Always remember that real estate is a business. You can achieve this by keeping it organized, building systems that will manage your life and try as much as you can to improve your efficiency. Most of the real estate investors who get burned out treat real estate investing as a job or hobby. Keep in mind that you are a business owner and you should ensure that you manage your business to the standard which suits you best.

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Investing In Your Home With Insurance

Every policy geared at insuring your home is going to be a little different depending on the insurance provider you go with, the level of coverage you choose, and the diligence with which you track changes in what is offered by the company that insures you. You’re simply going to have to go over your policy with a fine-tooth comb in order to see exactly what is covered, assuming that anything not expressly stated is not going to be covered.

However, that could leave a pretty large list of things that would not fall under your policy, and that can be a bit disconcerting considering how much you’re paying to insure your biggest asset: your house. So here are just a few things that may not be covered and what you can do to protect your home.

Natural disasters

In many cases, natural disasters like floods, earthquakes, tornadoes, and so on are not covered by a standard homeowner’s insurance policy. Although some areas that are prone to these disasters will require you to carry this insurance as an addition to your homeowner’s policy, low-risk areas generally won’t call for such coverage, meaning your policy provider may not even make the recommendation. However, you may still experience these natural disasters, so you should talk to your provider about the likelihood of such events and whether or not you should take out a policy that covers them.

Liability

Did you know that if guests or workers in your home suffer accident or injury on the premises you could be responsible for their medical bills and any legal action they take against you? Wouldn’t you prefer to be covered by insurance in case of such events? Suppose your dog bites the mailman, a workman falls off the roof, or your child’s friend leaps off the top step like a superhero only to break his leg on the way down. Each of these occurrences could result in a hefty payout on your part, so find out if accident liability is covered by your policy instead of assuming that it is (possibly wrongly).

Home-based business

If you run a business out of your home, there’s a good chance that it isn’t covered by your homeowner’s insurance. While working online as a personal assistant won’t require you to take on any additions to your policy, businesses that require you to manufacture goods in your home or have employees working with you on your property could pose a risk since they almost certainly won’t be covered. And what if you are sued by a client or consumer? How will you pay for a settlement against you? These are all things you need to talk to your insurance provider about in order to make sure your business is covered.

Assets in the home

Although most policies have some provisions to cover valuables in the home in case of theft or some sort of natural disaster, not all of them offer this addendum, while some require you to report on assets beforehand. Even then, they may require proof such as photographs or serial numbers. You need to know what is covered and what is required for home insurance before disaster strikes.

Future assets

Most people buy a home with the intention of waiting for the value to appreciate so that it can be sold for a profit. But your insurance may not account for this adequately. For this reason, you may want to opt for some kind of blanket policy that covers future appreciation and accumulation of assets so that you don’t wind up with less than you bargained for.

 

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