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Property Search

Terminology You Should Know When Buying, Selling Or Investing in Real Estate

Common Property Terminology you need to know when selling, buying or investing in real estate.
For newcomers to property investing or home buying, the jargon can get slightly confusing. I have compiled some commonly used words and terms to help you on your property journey.
Cash flow positive:
This is when you have a cash-flow positive investment where the incoming are more than your outgoings after tax-deductible items have been claimed. You receive more rent than your mortgage repayments, plus you are still ahead after taking into account items such as interest on the loan, maintenance, insurance, land tax, rates etc.
C.G.T:
Capital Gains Tax is the tax you pay when you sell an investment property and you have made a profit.
Cooling Off Period:
This is the period of time given to purchasers to legally withdraw from buying a property. The length of time varies in each of the …

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For Sale By Owner

Should You Try It Alone Or Join a Vulture Fund?

This morning at the health club, I ran into one of my long time friends, and I asked him if what I read in the newspaper was true. The paper reported that the bank where he is chairman was sold to a much larger institution. He confirmed that it’s true, and needless to say, a bunch of his cash is going to be made available to him in the near future. I asked him what he planned to do with some of that cash, and he told me he was planning to get into the short-sale game and start finding houses that he could buy, fix, and flip – or hold – depending on the circumstances.
I immediately cautioned him, the same way I caution the readers of this column, that the short-sale game is not for the faint of heart, and if you’re not a professional investor, there’s a …

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New Homes For Sale

Why You Should Get Your Customers to Consider Rental Income Property

In this economy, if you’re a residential agent trying to carve out a living selling houses and ignoring an opportunity to sell rental income property, then you’re like one stranded on a roof top in a flood who turns away a helicopter rescue because you’re waiting for a boat.
Look, this isn’t the time for you to pick and choose opportunities.
Regardless what you’re perception about what a real estate agent should do, it is not confined to selling people houses. Yes, you’ve become comfortable with showing mister and missus customer a house where they can live and raise their children with a nearby school where the little ones can start their education, but that’s not the reality in this economy.
In this economy, most buyers are more concerned about the nest egg they’ve accumulated then little Johnny and Mary skipping off to kindergarten. Mister and missus customer are more …

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Home

Why You Should Never Use a Store-Bought Lease to Rent Your Property

The biggest mistake of all, which is buying a store-bought lease or one free off the internet, is trying to modify that. I guarantee you that those leases are going to favor the tenant. This lease will favor you, the owner.
It’s very important that you do not use a store-bought lease. This is one of the concepts I want to get across. We do not have a store-bought lease that has all kinds of protections and things in there for the tenant. This here has a lot of protections in there for you, the owner. I highly recommend either you use this lease or, if you have the funds, pay an attorney to help you out.
Plain Language Lease
Let’s go through the lease page by page. I’ll point out some of the key important items so you understand them. First and foremost is the title of it. In …

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Property

Real Estate Investing II – 5 Mistakes You Should Never Make

The last time you had read about real estate investing, you had discovered that there are 5 steps to make profit while playing the real estate game. Although the whole process seems quite easy, it really isn’t so. The real estate market is so unpredictable, thus you can easily lose your money rather gain profits. After having explained what should be done to gain in this market, here are some statements you should never believe in if you want money flowing in your pockets rather than out of it.
Statement 1:”Real Estate Investing Is Just My Hobby.”
So you may have ventured into investing because of the opportunities it has in store, however, you must remember that this is a business, thus you should take it very seriously. Investing isn’t just buying and selling properties, it extends way beyond that to investments in improvements, assuring regular maintenance and more. Treat …