Florida Real Estate Blog

Real estate investing is far from easy, many people would say.

Buying a property and hoping to re-sell it quickly at a gain isn’t a workable scenario in the current business climate.

If you’re looking for long-term appreciation, you can buy a property. You need to purchase it at a reasonable price to allow room to pay for management fees. Or you can manage it yourself. The tenants are the wild card, aren’t they?

In commercial real estate, you run the risk of not having any tenants, if the local market is glutted. And that is the case in many local markets. In residential real estate, you may find yourself doing a fair amount of maintenance. You may worry about finding the right tenant. How do you create a lease? How do you screen tenants so as to find the ones who will stay a long time and keep up your property for you?

You may want to consider a real-estate investment trust (REIT), if you want an investment that is low-maintenance. You buy shares in a REIT fund, which is publicly traded. The fund typically holds commercial property and/or mortgages. The value of these funds may go up when the stock market goes down, allowing you to hedge your bets.

But REIT funds, like mutual funds, charge management fees. Are these taking away your profits? Perhaps you would prefer a property with a deed as your real estate investment.

Here’s a proposition to consider: an assisted investment where you are given a choice of new single-family houses for rental from low-cost local markets. You can also take advantage of negotiated contracts with reliable property managers, insurers, and loans at 5 to 10 percent down.

Using such a system, You can set up an investment with known costs, and then let the tenants pay off the mortgage for you. It’s a great way to start a college fund for your young child. All you will have to do is sell the house in 15 years and extract the equity.

Share This

The focus of this article is advanced strategies for experienced real estate investors who want extra protection for your investments. The use of the strategies I’ll cover will depend upon your investment strategy. Also, they may not be solutions you’ll commonly use, but you’ll have the knowledge you need should you decide to employ them. It’s always good to have more weapons in your investment arsenal!

The Indispensable Memorandum of Option One of the main negatives of lease options involves financial difficulties of sellers. Such difficulties often take the shape of liens, delinquent property taxes and other similar hassles. As an investor, you can waste a lot of time and money cleaning up these issues before a property can be sold.

That’s why you need the Memorandum of Option. It’s an indispensable protection because it’s a public document that’s a record against the title of the property. Always record a memorandum because it lets everyone know that you have an interest in the property.

The purpose of the memorandum is to prevent an unethical seller from refinancing and selling the property to someone else. It also provides you protection from bad faith sellers who try to squirm out of their obligations. With lease options, always record a memorandum of option!

Advanced Strategy 1-the Deed in Escrow Usually, the term escrow refers to the deposit of funds by one party for delivery to another party upon completion of a specific event or condition.

However, the definition also includes the deposit of deeds and other written financial/legal instruments. I recommend placing the deed in escrow at the time the memorandum of option is filed. In this case, the seller signs the deed along with the other contracts, but the deed is not recorded on the title at this point. Instead, it’s held in escrow by a title company or attorney, and they’re provided with instructions for its release.

Of course, this action doesn’t protect against the filing of liens against the property. However, its effect is to reinforce to sellers that they’ve actually sold the property. That effect then creates reluctance on their part to attempt to back out on a lease option agreement.

It also has another benefit: It permits the investor to close on the property without the seller being present! With the deed in escrow, the investor should specify how and when the deed is to be released and recorded. The instructions can be simple, such as this example: “When Sam Smith pays $200,000 in certified funds to John Jones, the deed will be released to him. By (date), these funds must be paid.”

Advanced Strategy 2: The Performance Mortgage With this technique, the seller pledges the property as collateral for the lease option agreement, and, thus, ensures good faith performance by that seller. Once the mortgage is assigned to the buyer, it prevents the seller from selling the mortgage to other people. (It replaces the memorandum of option filing.)

The performance mortgage permits the seller’s insurance company to put the buyer’s name on the owner’s policy as another insured. It shows as well that the buyer is a lien holder and requires that he or she be notified if any type of foreclosure action is taken.

Of course, some sellers don’t like the idea of a performance mortgage and won’t agree to this deal! If a performance mortgage is agreed to, have your attorney review the terminology of the mortgage to make sure the appropriate, specific clauses are included.

Advanced Strategy 3: The Land Trust A land trust is defined as an organization established to hold land and to administer use of that land. This technique is very useful with subject-to’s. The purpose of a land trust is to minimize possible exposure to litigation.

It does this by hiding true ownership. The actual owner or beneficiary is not recorded in the public records, just the name of the trust. This means potential litigants find it difficult to identify someone to sue.

Land trust contracts tend to be complicated and long so investors will definitely need an expert lawyer to draw them up.

Advanced Strategy 4: Form a Partnership There are times when investors may want to consider subject-to high-end properties (in terms of rapidly appreciating value). There’s more risk with these properties, and since there is more risk, you can spread that risk by taking on the seller as a partner. With this method, the buyer and the seller share the profits.

Here’s an example: Assume a property is worth $800,000 and the monthly rental is $3,500. Under normal circumstances, an investor would usually back away from this deal. However, let’s assume that the investor finds that this home might be sold for $200,000+ in profits. This deal makes good financial sense for the investor and the seller. So, they agree on a 50-50 partnership (or another percentage arrangement), and they’re both happy.

My suggestion: If you use this method, insist that the seller cover all the risks.

Advanced Strategy 5: Refinancing Refinancing is a great tax-deferment strategy. Here’s an example: Assume you have a house worth $300,000, and $230,000 is owed on it. Through a new mortgage, you can take out some or all of the $70,000 in equity, and it’s not a taxable event. The result-you can use that money to reinvest in other properties while still holding on to your original property.

It’s a good idea to check with lenders and brokers in your area to find out what refinancing programs are available and which ones best suit your needs.

Tax Concerns Remember that with any of the methods I’ve just described they have to meet IRS regulations. So, make sure that you and/or your tax person are on top of them; the regulations do change from time to time and can affect the legality and profitability of deals. One area to really stay on top of is capital gains.

Capital gains are the profit on the sale of a property. Currently, a person can sell his or her primary residence (the one actually lived in, not investment properties) every two years.

If you’re single, you can keep the profits up to $250,000; if you’re married, you can keep up to $500,000. In both instances, the profits are tax free. If the seller of a property lives in his or her home for two out of five years, then that property qualifies for a tax-free gain. The seller can rent the home out for three years - and not a single day more.

My Advice Never stop learning! Keep advanced strategies in mind as you grow your investment portfolio. It’s not likely you’ll need them for the majority of investments (especially early in a career), but, as is often said, knowledge is power. With that knowledge, you’ll be able to apply it quickly and easily when the right investment situation arises.

Key Point: Always get the lenders written permission. Study advanced strategies in depth, so you can make use of them at the appropriate time for maximum protection of your investments.

Share This

The focus of this article is advanced strategies for experienced real estate investors who want extra protection for your investments. The use of the strategies I’ll cover will depend upon your investment strategy. Also, they may not be solutions you’ll commonly use, but you’ll have the knowledge you need should you decide to employ them. It’s always good to have more weapons in your investment arsenal!

The Indispensable Memorandum of Option One of the main negatives of lease options involves financial difficulties of sellers. Such difficulties often take the shape of liens, delinquent property taxes and other similar hassles. As an investor, you can waste a lot of time and money cleaning up these issues before a property can be sold.

That’s why you need the Memorandum of Option. It’s an indispensable protection because it’s a public document that’s a record against the title of the property. Always record a memorandum because it lets everyone know that you have an interest in the property.

The purpose of the memorandum is to prevent an unethical seller from refinancing and selling the property to someone else. It also provides you protection from bad faith sellers who try to squirm out of their obligations. With lease options, always record a memorandum of option!

Advanced Strategy 1-the Deed in Escrow Usually, the term escrow refers to the deposit of funds by one party for delivery to another party upon completion of a specific event or condition.

However, the definition also includes the deposit of deeds and other written financial/legal instruments. I recommend placing the deed in escrow at the time the memorandum of option is filed. In this case, the seller signs the deed along with the other contracts, but the deed is not recorded on the title at this point. Instead, it’s held in escrow by a title company or attorney, and they’re provided with instructions for its release.

Of course, this action doesn’t protect against the filing of liens against the property. However, its effect is to reinforce to sellers that they’ve actually sold the property. That effect then creates reluctance on their part to attempt to back out on a lease option agreement.

It also has another benefit: It permits the investor to close on the property without the seller being present! With the deed in escrow, the investor should specify how and when the deed is to be released and recorded. The instructions can be simple, such as this example: “When Sam Smith pays $200,000 in certified funds to John Jones, the deed will be released to him. By (date), these funds must be paid.”

Advanced Strategy 2: The Performance Mortgage With this technique, the seller pledges the property as collateral for the lease option agreement, and, thus, ensures good faith performance by that seller. Once the mortgage is assigned to the buyer, it prevents the seller from selling the mortgage to other people. (It replaces the memorandum of option filing.)

The performance mortgage permits the seller’s insurance company to put the buyer’s name on the owner’s policy as another insured. It shows as well that the buyer is a lien holder and requires that he or she be notified if any type of foreclosure action is taken.

Of course, some sellers don’t like the idea of a performance mortgage and won’t agree to this deal! If a performance mortgage is agreed to, have your attorney review the terminology of the mortgage to make sure the appropriate, specific clauses are included.

Advanced Strategy 3: The Land Trust A land trust is defined as an organization established to hold land and to administer use of that land. This technique is very useful with subject-to’s. The purpose of a land trust is to minimize possible exposure to litigation.

It does this by hiding true ownership. The actual owner or beneficiary is not recorded in the public records, just the name of the trust. This means potential litigants find it difficult to identify someone to sue.

Land trust contracts tend to be complicated and long so investors will definitely need an expert lawyer to draw them up.

Advanced Strategy 4: Form a Partnership There are times when investors may want to consider subject-to high-end properties (in terms of rapidly appreciating value). There’s more risk with these properties, and since there is more risk, you can spread that risk by taking on the seller as a partner. With this method, the buyer and the seller share the profits.

Here’s an example: Assume a property is worth $800,000 and the monthly rental is $3,500. Under normal circumstances, an investor would usually back away from this deal. However, let’s assume that the investor finds that this home might be sold for $200,000+ in profits. This deal makes good financial sense for the investor and the seller. So, they agree on a 50-50 partnership (or another percentage arrangement), and they’re both happy.

My suggestion: If you use this method, insist that the seller cover all the risks.

Advanced Strategy 5: Refinancing Refinancing is a great tax-deferment strategy. Here’s an example: Assume you have a house worth $300,000, and $230,000 is owed on it. Through a new mortgage, you can take out some or all of the $70,000 in equity, and it’s not a taxable event. The result-you can use that money to reinvest in other properties while still holding on to your original property.

It’s a good idea to check with lenders and brokers in your area to find out what refinancing programs are available and which ones best suit your needs.

Tax Concerns Remember that with any of the methods I’ve just described they have to meet IRS regulations. So, make sure that you and/or your tax person are on top of them; the regulations do change from time to time and can affect the legality and profitability of deals. One area to really stay on top of is capital gains.

Capital gains are the profit on the sale of a property. Currently, a person can sell his or her primary residence (the one actually lived in, not investment properties) every two years.

If you’re single, you can keep the profits up to $250,000; if you’re married, you can keep up to $500,000. In both instances, the profits are tax free. If the seller of a property lives in his or her home for two out of five years, then that property qualifies for a tax-free gain. The seller can rent the home out for three years - and not a single day more.

My Advice Never stop learning! Keep advanced strategies in mind as you grow your investment portfolio. It’s not likely you’ll need them for the majority of investments (especially early in a career), but, as is often said, knowledge is power. With that knowledge, you’ll be able to apply it quickly and easily when the right investment situation arises.

Key Point: Always get the lenders written permission. Study advanced strategies in depth, so you can make use of them at the appropriate time for maximum protection of your investments.

Share This

The focus of this article is advanced strategies for experienced real estate investors who want extra protection for your investments. The use of the strategies I’ll cover will depend upon your investment strategy. Also, they may not be solutions you’ll commonly use, but you’ll have the knowledge you need should you decide to employ them. It’s always good to have more weapons in your investment arsenal!

The Indispensable Memorandum of Option One of the main negatives of lease options involves financial difficulties of sellers. Such difficulties often take the shape of liens, delinquent property taxes and other similar hassles. As an investor, you can waste a lot of time and money cleaning up these issues before a property can be sold.

That’s why you need the Memorandum of Option. It’s an indispensable protection because it’s a public document that’s a record against the title of the property. Always record a memorandum because it lets everyone know that you have an interest in the property.

The purpose of the memorandum is to prevent an unethical seller from refinancing and selling the property to someone else. It also provides you protection from bad faith sellers who try to squirm out of their obligations. With lease options, always record a memorandum of option!

Advanced Strategy 1-the Deed in Escrow Usually, the term escrow refers to the deposit of funds by one party for delivery to another party upon completion of a specific event or condition.

However, the definition also includes the deposit of deeds and other written financial/legal instruments. I recommend placing the deed in escrow at the time the memorandum of option is filed. In this case, the seller signs the deed along with the other contracts, but the deed is not recorded on the title at this point. Instead, it’s held in escrow by a title company or attorney, and they’re provided with instructions for its release.

Of course, this action doesn’t protect against the filing of liens against the property. However, its effect is to reinforce to sellers that they’ve actually sold the property. That effect then creates reluctance on their part to attempt to back out on a lease option agreement.

It also has another benefit: It permits the investor to close on the property without the seller being present! With the deed in escrow, the investor should specify how and when the deed is to be released and recorded. The instructions can be simple, such as this example: “When Sam Smith pays $200,000 in certified funds to John Jones, the deed will be released to him. By (date), these funds must be paid.”

Advanced Strategy 2: The Performance Mortgage With this technique, the seller pledges the property as collateral for the lease option agreement, and, thus, ensures good faith performance by that seller. Once the mortgage is assigned to the buyer, it prevents the seller from selling the mortgage to other people. (It replaces the memorandum of option filing.)

The performance mortgage permits the seller’s insurance company to put the buyer’s name on the owner’s policy as another insured. It shows as well that the buyer is a lien holder and requires that he or she be notified if any type of foreclosure action is taken.

Of course, some sellers don’t like the idea of a performance mortgage and won’t agree to this deal! If a performance mortgage is agreed to, have your attorney review the terminology of the mortgage to make sure the appropriate, specific clauses are included.

Advanced Strategy 3: The Land Trust A land trust is defined as an organization established to hold land and to administer use of that land. This technique is very useful with subject-to’s. The purpose of a land trust is to minimize possible exposure to litigation.

It does this by hiding true ownership. The actual owner or beneficiary is not recorded in the public records, just the name of the trust. This means potential litigants find it difficult to identify someone to sue.

Land trust contracts tend to be complicated and long so investors will definitely need an expert lawyer to draw them up.

Advanced Strategy 4: Form a Partnership There are times when investors may want to consider subject-to high-end properties (in terms of rapidly appreciating value). There’s more risk with these properties, and since there is more risk, you can spread that risk by taking on the seller as a partner. With this method, the buyer and the seller share the profits.

Here’s an example: Assume a property is worth $800,000 and the monthly rental is $3,500. Under normal circumstances, an investor would usually back away from this deal. However, let’s assume that the investor finds that this home might be sold for $200,000+ in profits. This deal makes good financial sense for the investor and the seller. So, they agree on a 50-50 partnership (or another percentage arrangement), and they’re both happy.

My suggestion: If you use this method, insist that the seller cover all the risks.

Advanced Strategy 5: Refinancing Refinancing is a great tax-deferment strategy. Here’s an example: Assume you have a house worth $300,000, and $230,000 is owed on it. Through a new mortgage, you can take out some or all of the $70,000 in equity, and it’s not a taxable event. The result-you can use that money to reinvest in other properties while still holding on to your original property.

It’s a good idea to check with lenders and brokers in your area to find out what refinancing programs are available and which ones best suit your needs.

Tax Concerns Remember that with any of the methods I’ve just described they have to meet IRS regulations. So, make sure that you and/or your tax person are on top of them; the regulations do change from time to time and can affect the legality and profitability of deals. One area to really stay on top of is capital gains.

Capital gains are the profit on the sale of a property. Currently, a person can sell his or her primary residence (the one actually lived in, not investment properties) every two years.

If you’re single, you can keep the profits up to $250,000; if you’re married, you can keep up to $500,000. In both instances, the profits are tax free. If the seller of a property lives in his or her home for two out of five years, then that property qualifies for a tax-free gain. The seller can rent the home out for three years - and not a single day more.

My Advice Never stop learning! Keep advanced strategies in mind as you grow your investment portfolio. It’s not likely you’ll need them for the majority of investments (especially early in a career), but, as is often said, knowledge is power. With that knowledge, you’ll be able to apply it quickly and easily when the right investment situation arises.

Key Point: Always get the lenders written permission. Study advanced strategies in depth, so you can make use of them at the appropriate time for maximum protection of your investments.

Share This

Europeans really like to invest money in Costa Blanca real estate. Lots of Europeans have purchased holiday homes along the coast line. The prices can be extremely high in the tourist areas. To get a better value house then you should look in different areas, perhaps those which are not quite as attractive to tourists. You should be able to find plenty of cheaper locations which are still located close to all of the amenities which you need. A quieter location is also much better to help you unwind and relax.

Things to Consider when Purchasing Costa Blanca Real Estate

The first thing that you need to think about whenever purchasing Costablanca real estate is to set a budget. Decide how much you can afford to spend comfortably without overstretching yourself. You should make sure you choose properties which are below your price range.

When you are setting your budget you need to think about all of the costs involved, not just the price of the property. You need to allow for the taxes, lawyer costs and real estate costs. It is vital that you have a Spanish lawyer look over the contracts before signing. Allowing an extra 10% of the property price should be enough to cover these extra expenses.

You should then think about why you are deciding to purchasing the home. How do you intend to use the home. Do you want to use it just for your own vacations? Or do you intend on renting it out to other people to make some extra income? Also think about whether or not you plan on keeping the property for a long or short period of time. By finding the answers to these questions you will be able to decide which property you should purchase.

If you are only planning on using the property for your own holiday needs then you should think about what you personally want. You will be spending lots of time there. You don’t need to only think about the rental value of the property, you also want to enjoy your time spent there.

Check out how close the property is to transportation links. Particularly how close is it to the airport and public transport? Flying into Alicante airport is the most popular route into the country. Having a property close to the airport will make it much more convenient. If you are renting out the property then this is very beneficial.

Finding Costa Blanca Real Estate

There is no doubt that the Costa Blanca location is a very popular tourist destination. Many foreigners own property in this region which is either used for vacations or as an investment. You can find property for sale by looking on the internet. Get an idea of the property prices before you visit the region to look into it.

You should then visit the region off season as well as during the peak season. You want to see what the location is like during the winter. If everything closes down in the winter then you might not like the property.

Share This

Slow Market! People jumping off the bandwagon that they were riding on for five or six years, the real estate bandwagon.

Thats a big mistake. Real estate is still the number one vehicle for building wealth in America today and will probably be so throughout our lifetime and our children’s lifetime.

There are many reasons why this is so, but the two biggest reasons are one the reality of life; “You have to have a place to live!” and two, “The leverage” that real estate allows.

Lets explore each:

The reality of life seems to escape some people in a slow market, but here it is restated so it is easy to understand:

Everyone needs a place to live.

We are pack animals and we like to live near one another (and the requirements of water, sewer, electricity, etc. make this unavoidable).

There are more of us than ever before, and the numbers are growing.

We come in varying degrees of economic strength ( so we buy real estate in many differing price ranges and types of configuration).

Reason number two the Leverage, restated in everyday terms:

Real Estate is the only investment I know of where you can get in the game for as little as five to 10 percent of purchase price (in rare occasions a little less, and sometimes it might take a little more, but 5 to 10 is doable all day long).

The stock market offers you a margin account where you could invest for 50% down, try buying rare coins for 10% of the sellers asking price! Real estate allows an investor to obtain ownership for as low as 1/20 th of the price of the product, and then to receive the entire 100% appreciation during ownership!

If the above wasn’t enough to make real estate the way to go (and it is), while you’re owning it you can have others (tenants) pay the debt service (mortgage payment), and receive varying tax benefits from the government.

There are an unlimited number of ways to “Play” in the real estate market, but they all should be preceded by a good basic education of what the opportunity is about. I think that basic foundation can be obtained best by taking a solid real estate licensing course (the State of Florida’s real estate license courses are robust!).

You can now avail yourself of a solid understanding of the basics of real estate online, and you can do so for under $300, a bargain in my mind!

Share This

In today’s world, a modern family is spread over several states, and sometimes even countries, which makes the distance between them several hundreds or thousands of miles. When we think about sending a flower arrangement to our family that lives far away, a true blessing is the availability of online florists. There are various ways to use the internet and send flowers, in this manner.

Would you like to send flowers to someone in California? It’s easier now than ever, even if you’ve never heard of any San Diego florists. The internet can help you select the gift, order it, and even personalize it with special touches. The flower delivery will be speedy, and the quality of the blossoms will be first-rate, no matter where your friends or relatives live in the state.

Another method you could use to do this would be a visit to your local florist. There, you can choose your flower gift from many standard arrangements that other florists participating can provide. The local florist can do this by using the online service to locate San Diego florists who also participate. This way they can find a florist close to the point of delivery, and the gift will be delivered by that florist in San Diego. Simple and easy!

A great method is to order your arrangement from an online florist that you like. You can order flowers and have them sent to most anyone at most any location. The online florist will have San Diego florists that they will enlist to take care of the actual delivery. All this can be done from the comfort of your home or office.

An alternative is to search the web for San Diego florists. Find one you like, and get them to deliver your floral arrangement. This is an easy task, and they may just offer exclusives to new customers that arrive from the web community.

With the different methods of payment available, it is simple to just pay with your credit or debit card and have your flowers on their way to their final destination. Majority of the online florists accept many electronic payments including Paypal or e-checks. If you would rather go to florist in your town, it is possible to also pay by cash or check.

There are lots of methods for using the Internet to send your flowers to your recipient of choice with just the touch of a button. No need to enter detailed information about the delivery destination: you only need the name and address.

Share This

Self-directed IRA accounts, also known as checkbook IRA accounts, provide many options for investors. If you want to maximize your retirement account returns, investing in real estate is one of the best ways to go about it.

But, for some, the more options that are presented, the more confusing it becomes. However, it shouldn’t be. Like any other investment account, all you have to do is ask yourself a series of questions to determine your real estate investment strategy.

3 Questions to Ask Yourself Before Delving into Your Self-Directed IRA Account

Investor Risk Compass: We all have an inherent risk compass, especially when it comes to money. Some of us are extremely conservative, some of us are avid risk takers and many of us fall somewhere in between. Knowing your risk compass before you begin investing your checkbook IRA funds into the real estate marketing will help you to make smarter decisions.

How many years before I have before retirement? Answering this question will help you determine how you want to go about investing your self-directed IRA account funds. Flipping properties for example is a quicker payoff than buying and holding (eg, renting out) properties.

Retirement Income Needs: Most focus on the big number when they think about their self-directed IRA accounts. Eg, how much do I have/want to have in there? It’s important to break this down into monthly amounts. You should run projects for 20, 25 and 30 years. As in, will how much do I have to have in my account to sustain an income of $5,000/month over 20, 25 or 30 years (maybe even more).

There are quite a few more lessons to add to this list. But answering these three will go a long way towards helping you to formulate an investment strategy for your self-directed IRA account monies.

Share This

Golf has been referred to in the past as a good walk, spoiled by the interruptions. Golf has been described in various other ways too, some of the colourful being by the golf widows who only occasionally see their partners return victorious from the course. If this sounds like you, then you may have heard of Jack Nicklaus. He is a world champion at golf, having been voted as Golfer of the Century. Unfortunately it doesn’t appear as though I was nominated for the honour, but then Jack does tend to sink more balls than I do. In fact, mine seem to have an aversion to the little holes scattered across the course, unless of course they have sand in them.

One of the things that Jack is well known for, besides his expertise at playing the game, is his expertise at designing courses as well. All across the world there are golf courses that have his name on them as the designer, and they’re popular not just because of his name, but because they are so well planned to provide a broad, challenging and exciting game of golf for both the professional and the amateur alike. I just discovered recently that there is one place in Spain where an amazing nine courses have been designed by him, and all located together. It’s one of those overseas property resorts, aimed primarily at golfers. With 162 tees to start from, that sounds like a few lost balls for me, and a wonderful experience for anyone who knows their four iron from their putter.

For some reason I always picture other people in these glorious scenarios. Like my well tanned and absurdly happy neighbours who seem to disappear off to exotic locations and come back with tans that make me look whiter than a sheet of paper. I hate my neighbours. They’re lovely people, but it’s people like them, not like me, who get to live that kind of paradise lifestyle. Having said which, I had never really given it serious thought, until I discovered that these overseas property arrangements weren’t just for the absurdly rich, the fragile ancients or both. In fact, because they’ve made such a big thing of the golf, it’s appealing more and more to people like me who enjoy a good game, or more frequently, a dismal one.

I was trying to play a game of golf at my local course recently, and it wasn’t easy. We’d had a lot of rain lately - which isn’t surprising, it’s what we’re known for here. The problem was that the whole course was so waterlogged that I was seriously considering trading in my golf cart for a dinghy. Rowing across to the eighth whilst waving a cheery greeting to some poor soul who’s stranded on the edge of a bunker and looks very much as though he’s Man Friday is not the traditional or preferred style of playing golf. If I liked getting wet I’d have taken up swimming and if I enjoyed getting muddy I’d have taken up rugby.

So that’s what made me think that moving to Spain sounds like a great idea. Imagine it - nine golf courses, endless sun, beautiful views, guaranteed good weather. Sounds like a dream. Maybe those neighbours of mine have got the right idea. But then there’s the hassle of moving over there and it all is so difficult, I wonder whether it’s worthwhile. But amazingly, I recently found out that many of these companies that deal with overseas property actually offer free trips over there to have a look and see what it would be like. They’ll even throw in a round of golf while you’re there. A free trip to Spain? A round of golf on a Jack Nicklaus course - it’s all sounding very tempting. I may even start to consider what I’d look like with a tan and a smile.

One of the things that has surprised me most recently is the price of these overseas property. I always imagine that they were really expensive, especially when you consider the added bonuses like the scenery, the quiet, the views, the weather and the nine golf courses. Yet when I saw the prices advertised, I could afford to sell my house here and buy a really classy villa over there with its own pool, views and more golf than I could shake a stick at.

The properties being advertised look fantastic. Of course, almost anywhere looks fantastic if you shove it next to a glorious mountain range, make sure you have a deep blue ocean twinkling excitedly on the other side and bathe the whole lot in an absurd amount of sunshine, but then, that’s the actual location you can expect to live in if you take the plunge. It’s certainly very tempting, and the more I think about it, the more I start to picture myself there. I see myself waking up in the morning with the white cotton curtains fluttering gaily in the cool morning breeze as I dance towards the windows and look out across another world. I don’t tend to dance much in the morning; I sort of lurch about a bit and stagger in a confused daze, but somehow I see myself dancing in Spain. It’s funny how a little thing like sunshine and sea can change you.

That free trip to try things out is very tempting, and I suppose I have nothing to lose. If all else fails, I’ll get a free trip to Spain, and a good game of golf. Well, as good as my game of golf is ever likely to get. My only handicap is myself. The adverts and brochures all used to see aimed at people who were retiring to Spain, or had bags of spare cash to invest, but today companies like Polaris World seem to be aiming more at people like me as well. Ordinary people who want something more than just damp, cold gloom. I like the idea of getting up in the morning and looking forward to a game of golf, rather than wondering if the weather will be good enough to let me make a dash to the car. The adverts certainly make the whole process sound easy. You never know, I might even bump into Jack as he designs his tenth course there. Maybe he’ll give me a few tips. Maybe I’ll give him some too. Maybe.

Share This

Application fees on the best buy fixed-rate mortgage deals have nearly doubled in the past year, according to current analysis.

In the last year alone, the fees on the five most competitive two-year fixed deals have moved from an average of 999 up to 1,478. And for three-year deals the average level of fees has moved from just 578 to 1,132 now.

Last October the base rate was 5.75% and the average interest rate of the top five two-year fixed rate mortgages was 5.68%, but now it is 5.57%. Three-year fixed deals have seen a similar tiny reduction in interest rates with the average rate of the top four deals moving from 5.84% to 5.65% over the same period of time.

All the recent publicity recently about the credit crunch and the bank’s fluidity problems has stoked the near panic in people and they are tempted to grab the best percentage rate deal they can find. The problem is that very often they overlook the fees which when added to the 2 or 3 year deal make the mortgage a lot more expensive than it first seems.

There could be a nasty shock when it comes to the fee which is charged as they have surely increased beyond proportion during the past year. What people should focus on is the true cost of their loan by taking into account fees as well.

There are still many good deals out there for people with substantial deposits or equity in their home and strong credit ratings. Unfortunately many people will not be eligible for them as lenders are increasingly taking a tougher line.

Recent changes to the Consumer Credit Act and also the tightening of the financial markets which have restructured mortgage fees mean that possibly brokers and intermediaries should be pointing their clients towards a secured loan as it could be a much cheaper option than re-mortgaging the family home.

The major impact of the changes to the Consumer Credit Act is the fact that every secured loan for residential purposes is now under the umbrella of the Consumer Credit Act and therefore there’s a compulsory cooling off period which takes pressure of the individual and also there is a ceiling on early repayment charges of two months interest (depending on when in the month they tell the lender). When you also take into account that there are no valuation, conveyancing, booking and application fees it doesn’t take a genius to work out that these secured loans are probably more advantageous to the client.

The whole point here is that if you are tied in to your current mortgage provider, in some cases even if you’re not, and wish to raise some money or simply restructure some finances then consider a secured loan as an alternative to a re-mortgage. The protection of the Consumer Credit Act and also the saving of the upfront fees and the much smaller early repayment charges mean that a secured loan could be much easier to arrange and quite a lot cheaper.

Share This

Vacation rentals are a good alternative to staying at a hotel during your Orlando vacation stay. Depending on your wants and needs, you have lots of different lodging options for your rental.

Villas, apartments, townhouses, condos, chalets and cabins are all available for you to rent. Renting allows you to have a lot more space than a regular hotel room. This gives you the comfort of being able to walk around and even cook if you’d like. It also works out cheaper than staying in a hotel; this is especially good if you plan on spending more than a few nights in Orlando.

Also, if you have a larger family or a bigger group of people staying with you, it saves you the cost of booking extra rooms. You can get places with 3 rooms generally up to 7 rooms.

In the long run, renting a house is also cheaper, especially if you’re staying for more than a couple of weeks or so. Lastly, a house has more rooms than a hotel, especially useful if you have a large family.

Like a booking a hotel room, it’s really recommended that you book your vacation house in advance. While Orlando’s housing program has drastically increased the number of houses erected, booking early will allow you to reserve units which are placed in a more convenient location. For example, if you’re into beaches, you might want to book in advance since beachfront houses tend to be gobbled up rather quickly, especially when peak seasons come.

Choosing a rental outside of the popular spots will give you cheaper rates. Also, look out for offers on a home swap where you can rent directly from the owner. Orlando locals spending time away rent out their homes for a period of time for a sum of money. This allows you to have a slightly more personal experience, negotiate terms and avoid unnecessary fees. For those looking to spend a month or more in Orlando, this would be the best option.

Share This

Settling in, of course, means that you need to find a good place to stay. In Orlando, apartments can become a bit expensive, with the average monthly rate hovering at about US$700 a month. With a little bit of hunting, however, you can find some small studio-type apartments that cost cost around US$400 to US$500 a month.

Living in Orlando will never be boring and considering getting an apartment in this sunshine state is just a good idea. The estimated two hundred thousand residents of Orlando can attest to the fact that Orlando living means fun filled living. Furthermore, living in Orlando is actually 21 percent below the national average that is why the cost of living in this city is considerably low.

With about 88 residential neighborhoods available, you can definitely take your pick on what apartment to live in in Orlando. If you have a family, large apartment complexes are very idea since they already come with several amenities like their own fitness centers, swimming pools, and even tennis courts. You will also have the benefits of extra security.

With about 88 residential neighborhoods available, you can definitely take your pick on what apartment to live in in Orlando. If you have a family, large apartment complexes are very idea since they already come with several amenities like their own fitness centers, swimming pools, and even tennis courts. You will also have the benefits of extra security.

There are definitely many apartments to choose from in Orlando. Which ever apartment you choose, one thing is certain, all of Orlando’s actions are never far away from your apartment. So enjoy life, live in Orlando!

Share This

Self Directed IRA account holders enjoy the freedom of investing in real estate, without the hassles of having someone sign off on every expenditure. This is particularly important for those who choose to flip fixer-upper properties as an investment strategy.

3 Keys to Maximizing Your Self Directed IRA Investment When Flipping Properties

Handyman specials, also known as fixer uppers, make great long-term investments if the proper research is done beforehand. As real estate is perhaps one of the most predictable investments you an make when compared to investing in stocks, for example, doing your homework practically guarantees success if you keep the following in mind.

Location, location, location: Maximizing your Self Directed IRA investment begins with choosing the right location. In real estate, location is everything. As Realtors are fond of saying, you can fix the house, but you can’t fix the neighborhood. So, start your search by choosing a location with good schools, appreciating property values, a stable city government, etc.

For, these are the things that prospective buyers will be looking for in their home. While it is “just an investment for you,” it will be a home for them.

Renovations: Choose properties that need as little work as possible done on them. This can be tricky however, because some properties show terribly. But, you have to be able to look beyond the nasty toilets and overgrown yards to what a property could be. Many investors lose out on excellent deals because they can’t see past the initial abysmal look of an investment property. Cultivate this skill, and you’ll pick up deals many overlook.

Get to Know a Rehab Specialist: A rehab specialist will be able to tell you whether or not the property you’re thinking of buying is a good deal or not. For, they don’t consider how “pretty” a property is, but assess its bones. They look at those things that can cost you dearly, eg, the electrical wiring, the plumbing, the insulation, etc. Cosmetic fixes are easy and relatively cheap to fix. Maximizing your Self Directed IRA investment depends on the knowledge of someone who knows the difference.

Share This

You could use a small bathroom design. You may have little choice if you actually have a small bathroom. It doesn’t mean though that you automatically have very limited options with your small space. There are still a lot of tasteful designs you could consider. Here are some tips at designing small bathrooms.

Put Only What You Need

Ask yourself if you really want a bathroom that doubles as a living room. Chances are you will only really be spending a limited time in your bathroom. You are also not likely to be doing a lot of things in it. If you use your bathroom as it is meant to be used, then you don’t need a lot of things in it. Get rid of extra fixtures and storage units. Keep only those that you can actually use for a little relaxation and for the essential functions of a bathroom.

Choose Small Items

If you live with average sized people, you really do not need big fixtures. Big toilets, tubs, faucets, showers and sinks would look terrible in a small bathroom. They will also eat much more space. The fixtures should be appropriate to your size but nothing more. You should choose the smallest size of all fixtures that will fit you and your needs. The visual impact and the actual effect would be a small bathroom that is roomy and unobstructed.

Move Up

You can be more creative with your use of space in a small bathroom design. Just remember that the floor is not the only area that your bathroom holds. You also probably have a lot of overhead space. Instead of letting that area go to waste, consider putting it to good use. Move your storage compartments up. Tastefully designed mini cabinets and tubular racks would look perfect there. Aside from overhead space, you could also get rid of such floor space consuming features as a pedestal for your sink. You can simply use a hanging sink.

Get Rid of Somber Colors

Sometimes, the spacious appeal of a bathroom is all in the way we perceive it. You can actually influence the way people see your bathroom by wisely choosing your colors. Your tiles, accents, paint and even your fixtures should all be in light shades. Aside from creating the illusion of space, light colors are also easy and refreshing to look at. Dark colored fixtures tend to tell our eyes that the space is too cramped. They also create a somber or severe atmosphere.

Decorate with Small Things

Space restriction is not your only problem. You would also most likely want your bathroom to be ideal for relaxation too. You would probably be more comfortable in a bathroom that looks and smells nice. How can you improve on the appeal and appearance of your bathroom without adding unnecessary features? You can actually use small accents for it. Choose small appliqu designs for your tiles. A couple of scented candles and soap around strategic places can also help improve the general impact of your bathroom.

There’s really nothing to making a small bathroom design. With a little creativity and perseverance, you can create the perfect little haven for you.

Share This

The price of diesel is now upwards of $4.00 a gal.at some truck stops in the North East of the USA. The ripples this is sending through the other sectors of our economy is just now starting to become visible. The trouble started much earlier but it seemed invisible to the everyday folk, that really just saw this as a “Gas Price Problem”. Now the secondary and terciary industries are obviously showing the strain. The airlines (never fully recovered from 9/11) are in an Emergency Room, the trucking industry is in chaos and the support industries for these giants are being beaten down to levels that they have not seen before!

Consider: .the entire State of Florida’s work force is threatened almost everyday with job cuts and loss of benefits and positions. the Tampa bay mortgage base now has double the homes in the ranks of foreclosure as it did in 2007 (which was already a horrible year), and I am talking about the non-sub prime loans! Almost 3% of the more strictly underwritten loans are in default (60 days or more). If you factor in that over 20% of the sub-prime loans are in some serious stage of default you can see the effect is going to do more than ripple!

The banks tighten credit in response.

Less people can qualify.

Even those who could qualify are scared that the real bottom is much lower.

This further depresses the buyer pool, thus flattening the market even more.

The buyers that cannot meet their obligations, can’t sell.

The numbers of buyers that can’t meet their obligation soars, because their totals are being fed by dropping prices, tighter credit, and now job loss in peripheral industry.

The foreclosures add to the glut of available properties.

The slow business climate prevents the normal acquisition rate of real estate by business as the climate has them operating in a much more conservative fashion.

The Perfect Storm!

If you’re looking to blame someone read elsewhere I choose not to blame, merely to inform and repair.

The answer must come with immediate legislation offering future credits for the most efficient of the hybrid vehicles.

This legislation must also spread to solar products for the home for both heating and cooling.

The auto industry will take heed that the selling models will be those with credits, and that will sound the death bell for the Giant Gas Guzzling SUV.

Congress must resist the urge to help out those that recklessly signed up for sub-prime loans that are now in trouble; rather they (the lawmakers) must show courage and let the market forces of supply and demand work themselves out.

The real estate market must be allowed to work as it was created, freely and without the well intentioned but usually ineffective direction of the Government.

If all of the above takes place we can slowly work ourselves out of this debacle we now find ourselves in.

I have the utmost confidence that we will; but I hope the lessons will be learned:

Fossil fuel is running out, we must shift to other sources, and this shift can only be accomplished by incentive programs so that there are concrete bankable reasons for doing so immediately.

Bailout of the banker ( do you remember the Savings and Loan Crisis?) begets bailout of the banker!

Incentives to do the right thing, are the right thing!

The Radical Islamics does not need weapons of mass destruction to hurt us.

Share This