Using Other People's Money For Sure Estate Deals
Using Other People's Money For Sure Estate Deals
Blog Article
The approval to build: The reason that land is developed is so that it can generate more income. Land that is used for farming brings in much less than land that has an office building or townhouses on it. When you change the zoning or take a piece of land through the approval process, it becomes more valuable simply because you now have the ability to build and create more income from the land.
How many and what type of truck deliveries do you get a day, a week a month? Make sure the property you choose can handle the trucking volume without interruption from other tenants or property limitations.
This is particularly so regarding building plots and land and more recently towards agricultural land. With prices of development land being so expensive and with the planning laws allowing the development of a single house just about everywhere, the public's interest has been diverted with an increasing volume towards agricultural land, where prices have shown increases real estate in Marbella. excess of 30% - 50% over the last year alone.
Although housing has shown feeble signs of recovery, this economy has been a wake-up call to investors who thought they could ride a never-ending real estate development.-estate bubble for condo projects, land sub-divisions or international real estate in hot markets like Costa Rica, Mexico or Belize. Then there's commercial and office real estate, where many institutional investors have recently taken enormous losses.
Only in the last couple of years has the government started to collect property taxes. Basicly it depends upon the value of the property you purchase. If you purchase a residential property and it is worth RD$5 Million Pesos or less (about US$150,000) then you pay 0 (zero) annual property taxes. If the home is worth more than that amount, you pay 1% of the value over and above RD$5 Million Pesos (or US$150,000). If you purchase raw land or undeveloped land, then in that case there is an annual property tax calculation regardless of the value. In our real estate listings you will find a large number of middle class home or luxury apartment for less than 5 Million Pesos, so you will not have any annual tax payments on your Dominican real estate company or service. Estate.
How can it cost you less to sell your home to a real estate investor? Because you are selling real estate directly directly to a buyer there are no real estate agent commissions involved which is typically 6 percent of your sale value. This can add up to tens of thousands of dollars. Instead of paying a real estate agent commissions you are giving some of that money in equity to the new home buyer or investor.
Before you actually put your property on the market, do yourself a favor. Hire an attorney. Not just any attorney, but one who specializes in real estate. Do not hire your family lawyer or the one who got you your divorce. Loyalty is great but it has its limits. You need someone benalus real estate who represents real estate clients every day, week in and week out, not once every couple of months. You do not want to be paying for someone to be trained on the job. You are likely to have much at stake in the sale of your land, and you simply cannot afford to have someone screwing it up because they are in over their heads.
Look for the unique selling proposition of the home and feature it. People love a mystery, the process of discovering something special. Most fine homes have some exceptional features. It is the unexpected that sells them. Do not spoil the surprise by editorializing about it. Just give them a hint. Evoke the participation of the reader with a call to action. That is what makes your phone ring or your email box full. Do not miss out on the opportunity to make a new friend by answering the query. Better yet, show them the home and let them form a bond with it.