Luxury Real Estate Marketing - Defining Individual Values
Luxury Real Estate Marketing - Defining Individual Values
Blog Article
Whether you are just starting to dip your toes into the ocean that is real estate, or are free diving in the great blue yonder, you need to be aware of the rules that govern your ability to maximize your success. You have most likely heard that there are countless ways to become profitable within the huge genre that is real estate; if so, then You're right!
Richard Lehman, noted investment advisor, puts it this way: "Think about it, what better way to bail out debtors and clear out an excess housing inventory than through inflating the value of hard assets and at the same time diminishing the value of debt claims?" And all the government entitlement programs are keyed to the rate of inflation, so the politicians look like heroes.
Lastly, you want to go with a company that demonstrates knowledge and expertise in their perspective market. They should be able to show a long history of purchasing real estate in Marbella. estate and why their market is ideal.
Was it Mary Poppins who said "Accentuate the positive?" I'm not sure, but whoever it was, they were right. So sit down right now and write a list of all the benefits you can offer a buyer or real estate development. a seller.
This is another common mistake beginners make. Not allowing for all the expenses and costs involved. Sometime we forget some important things. Sure we know we need to include the purchase price and the renovation costs. But what about other costs and expenses such as, closing costs including legal fees, title insurance, property insurance, real estate taxes, and real estate company or service. transfer tax when selling the house.
To better clarify this, I can influence an appraiser to appraise a $200,000 property for as much as $225,000 or as little as $175,000. That's a pretty big swing. And in a tight deal that can cut into your profit margin substantially. I tell my appraisers not to give me any fluff, or what they think is happening in the market place. As Sergeant Joe Friday from the show "Dragnet" always said, "Just the facts ma'am." So if the seller or savvy wholesaler gives you the appraisal, just keep in la concha marbella mind it could also be just another marketing brochure to sell the deal.
Do you know of an agent or a company in your marketplace or a neighboring marketplace that "owns" a segment of the market? Perhaps, it is a specific golf community, a luxury high rise, the downtown area or the waterfront area. Their name is synonymous with that niche.
Will display character should your deal go sideways. You will need a lender who has experience and the character to work with you in the ups and downs many real estate development and improvement projects can take. No doubt, most lenders have experienced a hiccup and had to formulate a plan to resolve the problem. The question is, how did they do this? I invite you to ask a prospective lender the following: "In the past, what steps did you take to assist a borrower when a project was in distress?" The answer must involve both the project and you. Securing the best interest and fee rate with a lender who is difficult or frustrating to deal with when things aren't all roses will come back to haunt you!