Month: June 2017
Commercial mortgage loans are integral to the financing of commercial real estate projects. They represent debt secured by the potential or current property owner on a recourse or non-recourse bases to finance the purchase or refinance/cash out the property. Adequate debt acquired at attractive interest rates and terms can increase the investment yield of commercial real estate while simultaneously decreasing the investors equity in the project, reducing risk and allowing more liquidity of investor capital for future launch. Finding a lending source which is favorable to the specific project is crucial and making sure the cost of debt is less than the investment yield to generate a profit, a necessity.
The process of getting a commercial mortgage loan entails the lender qualifying the property and the borrower to determine financial strength and capacity to pay back the debt. Lenders are not in the business of taking properties for payment delinquency, but generating an attractive interest on their money deployed to investors for their investment activities. This qualifying process is termed underwriting and the financial viability of the project is scrutinized including the potential gross income, down to the effective gross income and the property expenses are scrutinized including all recurring expenses to derive a representative net operating income. The capacity of the real estate to support the debt is important to lenders, it is analyzed and the debt service coverage ratio resulting from the NOI/debt service is calculated to determine if it meets the minimum acceptable level; 1.20:1 is the minimum acceptable for multifamily and 1.25:1 for other commercial properties; however, this can change depending on how the loan is priced and the investor profile variables which increases or decreased the risk quotient attributed to the project.
The borrowers financial strength, investor experience and credit profile are relevant to the underwriting process, for both the property and borrower are considered. The borrowers net worth, other commercial real estate holdings, liquidity, etc are factored into the decision making in determining if the funding request is approved, disapproved or lender modified because of associative risk. It is the lenders objective to mitigate risk to within acceptable parameters while charging a risk premium, if necessary, and still fund the loan when all underwriting criteria are met. Commercial mortgage loans represent a viable means for borrowers to leverage their capital supplemented by debt secured elsewhere to fund acquisitions and refinancing. When the appropriate leverage is used it creates a fertile environment for profitability. However, over leverage can erode all profits. Lenders usually request property and borrowers financials to facilitate deciding if the request is fundable and how to price the loan. Transparency on the part of the borrower expedites the process and helps the creditability and borrower-lender relationship. Remember lenders are in the business of loaning money, but they need a certain level of assurance of repayment of loaned funds. Whatever borrowers can do to produce this assurance will help to get loan approval.
Applications for a home loan with bad credit can hardly be guaranteed approval when the financial pressures of modern living dictating against those with bad credit histories. But that is not to say that bad credit borrowers have no chance of buying the home they want. As long as the application is strong, the application can be successful.
Remember that bad credit scores have only a minimal influence over any loan application, and even when it comes to securing mortgage approval, and the sizable debt that it creates, the debt-to-income ratio the applicant has and the down payment that has been saved, is of greater interest to mortgage providers.
Ensuring that these aspects of an application are in good order is the best route towards approval. Once lenders are confident of getting their money back on the home loan, rejection is hard to justify. So, what should be looked out for?
Understand Your Credit Status
Building a strong loan application starts with understanding the position that is held. There is no point in pretending everything is rosy when it is not. Knowing your credit score and how it was calculated provides insight into how the lender will view your application. When applying for a home loan with bad credit, knowing your own weaknesses is very useful.
Your credit report can be sourced (for a small fee) from a credit agency, and in it details that have affected the credit score can be seen. With this information, a strategy can be devised to strengthen the application. Securing mortgage approval often comes down to the smallest details.
Also, with the credit scores known, applicants can assess what home loan terms are good and bad, and with that can accurately assess the value of any prospective loan source.
Address The Credit Score
There are only a few ways to secure a home loan with bad credit, but probably the most logical is to improve the credit score before submitting an application. And how can the score be improved? Well, the most immediate impact is made by a consolidation loan, which can be used to pay off existing debts.
Every debt that is cleared is marked as fully repaid, and so the credit score is increased to reflect this. Of course, if the overall debts are $50,000, then the consolidation loan needs to be very large. But securing mortgage approval is certainly more likely when the credit score is higher.
A single consolidation loan is not always possible. In such cases, taking out a series of small personal loans, of maybe just $1,000 each, allows for single debts to be cleared. However, these loans can come with very high interest (25%) and with repayment schedules of just 30 days. These are expensive loans, but over time can have the desired effect and improve the chances of getting a home loan.
Make a Large Down Payment
Providing a large down payment as part of an application for a home loan with bad credit can help the chances of approval significantly. This is because the size of the required mortgage falls in proportion to the down payment. For example, if a home is worth $200,000, a 10% down payment reduces the required loan to $180,000. A 20% down payment sees it fall to $160,000.
And with lower mortgages, the interest is lower and the repayments are lower. This can only help in securing mortgage approval, and with the whole deal so much more affordable, there is significantly less chance of defaulting on the home loan.
Everyone, it seems, wins from this situation. However, it does take a considerable amount of effort to save a large lump sum.
The most successful companies in the world choose words carefully when they create their advertising taglines. You can learn from their advertising strategy and experience. Treat your mortgage tagline as a critical part of your marketing campaign and choose your words very carefully.
In case you don’t know what a tagline is…it’s a short (usually one line) advertising blurb that aids in establishing credibility for you. Your mortgage tagline helps customers and prospects to feel that calling you and working with you is a “safe” choice. Your tagline can help drive business for you.
The really nice thing about taglines other than they work, is…they’re absolutely free! Once developed, they sort of tag-a-long and enhance all of your mortgage marketing material and summarize your advertising message in one short sentence.
How much more effective could your advertising be if you treated your tagline as a sales opportunity? With just a few additions and small adjustments, you could significantly improve the power of the tagline in your ads, and improve your return on your advertising investment.
Here are a few examples of some highly profitable taglines: Coke – “The Real Thing”, Pepsi – “The Choice of a New Generation,” Maxwell House Coffee – “Good to The Last Drop,” Budweiser – “The King of Beers,” All of these companies know that their tagline is a sales opportunity, and they use every word carefully to take full advantage of that opportunity.
One thing to keep in mind is that the key to creating your very own “mortgage brand” or “mortgage tagline” begins with creativity. You want people to think of you when they think of mortgages. Make sure your brand has an emotional ring to it. The right choice makes people want to do business with you and actually creates customer loyalty. The right brand tugs at their heart strings and says “buy me.”
If your business card says “Vice President” that’s great…except it really doesn’t describe exactly what you do, does it? Instead let’s use the title “Home Loan Consultant” or “Investment Specialist” instead.
Now, not only do you have a great title, but the title describes to folks exactly what you do and what you’ll be talking to them about. There’s no mistake here…you don’t work for an Automobile Dealership, or a Dry Cleaner, or whatever. You are involved in loans and mortgages.
If you’re having a problem getting started, just Google your competition and the consumer goods industry, then convert their marketing campaign and sales message into your very own mortgage business strategy. Work your chosen tagline into every single facet of your business plan and marketing program.
By simply improving the power of your tagline, you can improve the response to your marketing material, improve the return on your advertising investment, and improve your mortgage business. Go for it!
Playa Del Carmen has many options when it comes to high end living. You can pick and choose from plethora of choices Beachfront, Golf residences, Marina, condo resorts etc. Each one has its own unique charm and suit varied lifestyles.
Among these Beachfront is much highly sought after. Golf course communities come a close second and are a perennial favorite among golf lovers who want a direct access to Golf course. Playa Del Carmen is known as the Golf capital of Latin America and for a good reason too. It has nine world class and beautiful golf courses which provide the ultimate in golfing experience and luxury living.
There are quite a few gated Golf course communities with the latest and best being Residencies Grand Coral by Lorena Ochoa.
The project is located in Grand Coral Riviera Maya. It has incorporated innovative design which is beautiful amalgam of contemporary architecture and spectacular landscaping. It has surrounding lakes and beautiful gardens which lend the pool area a unique touch.
As with any golf residences, Residencies Grand Coral also offers spectacular views of the golf course but with a difference. All units of the project have views to the 18 hole golf course. For Golf aficionados, this project is as close to heaven as one can get!
Golf residences can be quite expensive because of the quality lifestyle they provide and premium luxury condos offered by them. Such a lifestyle is for a privileged few. But in Residencies Grand Coral by Lorena Ochoas case, an added attraction is an unbelievable starting price of 183,000 USD. To sweeten the deal even more, Residencies offer the very best financing in the market.
As far as golf residences are concerned, they must offer high end luxury amenities, entertainment options, security and ease of access. Residencies Grand Coral comes up aces in this regard also. All units have terraces with ample space to enjoy views of the Golf course and lakes. Besides that the best feature is the 18 hole golf course designed by Nick Price.
To take care of your leisure, there is a beach club and a club house with Restaurant, and snack bar. If you want to indulge yourself and relax, then you can visit a spa and completely unwind. For fitness freaks, a gym in club house is always within reach.
The project location is also highly favorable. It has direct flights major Mexico Real Estate, US and Canadian cities. International travelers can take a flight to Cancuns international airport which is just 30 minutes north to this project. The nearest city is Playa del Carmen which is just a 10 minute drive.
Playa del Carmen Real Estate has many such gems which offer world class living as well as prudent investment options.
If you are a home owner or plan to buy a home, it is essential that you get an idea about the process called foreclosure crisis because you might come across it at some point of life. This is more important especially if you have acquired a home through mortgage or loan. When you fail to pay the mortgage installments within the specified period of time, including the grace time, you might be in deep trouble as the mortgage company would take the ownership of your home back.
The home owners have to pay monthly installments on a particular date each month. When you exceed the time limit of 30 days from the due date of payment, you would be considered as an irregular customer in the books of your mortgage company. The company will then initiate legal proceeding in order to take your home back after foreclosing mortgage. This foreclosure crisis is a very tough situation for you to handle as an individual. The reason behind this is your defending party is a company which has a team of lawyers to assist it. The company would make sure that your ownership rights are cancelled at once. Moreover, they will pressurize you to evict the premises immediately and would proceed to sell the home by auction so that they can recover the money that was given to you for loan.
However, depending on your locality the processes involved in foreclosures might differ and hence, it is essential that you avail the services of a legal firm to handle this foreclosure crisis. This is a wise option as the lawyer appointed by the firm would offer you excellent guidance on how to go about this process. In addition to this, they would let you know how to handle each situation that might be judicial or non judicial in nature.
If you wish to put an end to the haunting foreclosure crisis, the only way is to take help from a good legal firm that will understand your plight and put forward the genuine reasons before the court of Law as cited by you. The veteran lawyers, who run the legal firm, know each and every way to prevent the mortgage company and also make sure that you have a strong defense on your side. The skilled attorney of the legal firm makes sure that he or she represents your side and initiates the proceedings of the court by representing you.
With a wide network established across the globe, the legal firm can connect with any number of lawyers in order to get more information so that they deal with the case easily. They also make sure that the home remains legally yours. You can find affordable services offered by these legal firms as they want to make sure that the foreclosure process does not affect you. You can seek help through the effective customer care service which is active round the clock and you will be assigned with an attorney within your locality within a few minutes.
Litvin Law: Leading Foreclosure defense attorneys firm offering result driven legal mortgage & foreclosure crisis strategies, like- deed-in-lieu of foreclosure, short sale laws etc. with world-class client service.
Appeal to broader set of renters
During the recent downturn in real estate, unfortunately a lot of home owners have lost their homes. They still prefer to live in single family homes as opposed to an apartment. What this means for a real estate investor is that he now has a larger rental pool for his (single family home) property. In addition, people who are moving across the country for job opportunities are sometimes renting out their original homes and looking to rent a single family home for themselves. There are several such factors that make single family homes’ rental pool larger and easier to deal with.
Getting a mortgage is easier
When you are applying for a mortgage on a single family home, it is a much more predictable and easier process as compared to that for a condominium. The laws for getting mortgage on condominiums are much more stricter in today’s economy. This makes the buying process of a single family home seamless and hence a better investment choice.
Stable Property Value
Another factor that makes single family homes a better investment choice is that with everything else being the same, single family homes tend to hold their values better than townhomes or condominiums. This is important to keep in mind since in addition to a steady income, an investor needs to also keep in mind the appreciation potential of the property.
Predictable cost structure
Since a single family home is an entity in itself, it doesn’t get affected by other factors that could vary the cost of owning a condominium or townhome. A condominium or townhome has shared walls and common areas and sometimes the maintenance cost could increase when repairs etc. are required. With a single family home, you are more in control of the cost of owning a property and that makes it a better choice.
Easier when you decide to sell
When you are in the market to sell a single family home that you have been renting out for investment, it is an easier task since your pool of buyers are both investors as well as people who are looking to purchase homes for themselves. Of course you still incur the cost of selling the home but it is a much easier process to deal with.
My life is thriving in balance with purpose- Is yours? Do you find yourself fighting to stay motivated- putting things off- wasting time- lost without a purpose? If you said yes to any of these, there is still hope.
How would you like to be that person that is always motivated- always getting things done- always enjoying life- always fulfilled? If so, here are some time tested principals that, if you apply them, will take you to that next level-
Motivation vs. Inspiration
Many people believe that motivation is the “engine” that drives you to success. Most seeking motivation attend seminars to hear others as they share success stories and strategies. These events cause us to feel good and challenge us to get moving. However, when you face the real world, it seems to just burn out on the extra mile- Have you ever felt that way too?
That is because “motivation” as Napoleon Hill says “is like fuel to a vehicle.” So what exactly is the “engine” that drives you to success? If motivation is just an external portion that helps build momentum, where does the power lie? Now inspiration, on the other hand, is internal and comes from realizing your purpose- The problem with most people is that their purpose is unclear and much smaller than was intended.
The reason why many lose motivation and quit before ever reaching the next level is because their purpose is smaller than themselves. However, what would happen if your purpose was bigger than you? I’m glad you asked-
Imagine you want to build a home, and just the thought of all the work makes you lose your motivation, but as you begin to think of the fact that in this “home” you will live with your spouse, raise your children, and have your grandchildren visit. You are now inspired and compelled to fulfill the vision of building your “home” no matter what the cost- Don’t you deserve a life of inspiration?
Define your purpose
“Why?” is the first question you must ask yourself personally and in business. If your “home” wanted to discover why it was built who would it ask, the neighbor, the mail man, or its builder? I think you get the picture. So visualize your purpose by writing it down. Once your “Why” is bigger than your “How” you will get inspired and the “How’s” will automatically aligning themselves.
You can’t fight what you don’t know exists. Answer this question, “What is holding me back from fulfilling my purpose?” The most popular answer is fear. Whatever your answer may be realize that you must conquer your obstacles or they will conquer you. If while building your “home” you find there are problems with the foundation you must do what it takes to strengthen what holds it all together. When you get weary, don’t worry its normal. Remember the foundation is the reason “why” you are paying the price. Break free!
Assemble your Power Team
As you press toward the next level you will find that you can’t do it on your own. Take the time to pick the right people that will empower you to keep moving forward in your journey. For example, a few things you might need to build your “home” are a developer, an architect and a construction crew. What kind of team do you need to build your vision? A team that balances out all your weaknesses- So when you run across problems that seem impossible seek answers from those who have them.
Grow in balance
True success can be measured by how balanced your life is. Balance can be like the fence that protects your “home.” It is vital to grow in every area of your life to experience the type of fulfillment that comes to those who grow in discipline- So decide to live balanced today and reap the benefits.
Enjoy the journey
When you are taking action, every day takes you one step closer to fulfilling your purpose. Just like you would get exited about your “home” taking shape with each new day, so too should you enjoy traveling your path to success. So get exited!!! Every day you are one step closer to fulfilling your vision.
REMEMBER-Though your “home” that took so much work is very valuable, nothing compares to the lives shaped by it. So empower others to do the same by passing on these tools that enabled you to build your own. Rick Melero and the Board of Advisors of America’s #1 Real Estate Network have completed 100s of real estate transactions with over $100M completed. Invest with the group and learn more about HIS Network’s real estate buying group
Having fed up with heading for cinema to watch movies? Wanna find some fun at home? How about building a home theatre? If you think it costs you too much, why not buy a set of cheap home theatre , but fine in quality. More and more people are planning to build a home theater nowadays. It is because that watching movies is one of the most relaxing and pleasant things to do. If you do not want to spend any money on movie tickets to see the latest films on the big screen, you can build a home theater instead. With all the high-tech home theater systems available, you can easily recreate a movie theater right in your own house. Your home theater is supposed to be the central room for relaxation and entertainment. So make sure you get the right accessories to make it as good as it can be.
How you decorate your home theater is a matter of personal preference, some people like to have it look like an old-style movie theater with vintage seats and a popcorn machine while others simply want a comfortable sofa to sit in. Just make a wonderful home theatre of you style. When you are planning to build your home theater, actually you are going to have many options to take into consideration. This is often the most difficult part that you will have to deal with when designing your home theater. The amount of accessories that are available are endless; and even though you may have a hard time to choose, this is also a good problem because you will always be able to find what you need after a little bit of searching.
Home theater accessories consist of hundreds of different options. Even though you will never be able to have every accessory that is available on the market today, you can at least buy a couple as a way to customize your set up. If money is limited, you can buy used components and save up money. Of course, it will cost money to build a home theater but with careful planning, you can make sure that your investment will be worth it. In addition, there are many options to consider when you buy home theatre , and luckily there is now greater choice than ever when it comes to custom home theater design, packages, set-up and accessories.
For instance, wireless home theater systems and speakers have become more popular in recent years, as they offer greater style and compactness, and allows for a more spacious home theater room; and “home theaters in a box” are advertised as providing a simple introduction to entertainment centers. Home theater stores are also willing to combine top quality individual parts in whatever way you choose, and for cheaper than you might expect. All in all, building a home theater may be more than buying a backpack; you may spend a much more time to compare it with others to find the cheapest one or to buy discount home theatre .
Choosing between a house and a condominium is a matter of budget. Houses are known for its affordability, which is why these types of residential Philippine real estate
are still in-demand, while condominiums are known for its expensiveness, yet offers the best benefits that many modern Filipinos are looking for in today’s modern lifestyles.
Choosing your Home Both types of housings can offer a home for any Filipino. However, both types differ with their benefits. While houses are known for its affordability, condominiums are known for its modern benefits that could cater to the needs of many Filipinos. The disadvantage of condominiums, however, is its expensiveness. Here are some information about these types of Philippine real estate
and what they can offer to their residents.
Condominiums Condominiums are considered today as some of the best types of modern housings in the Philippines. Part of what made it modern is because of its location, which is mostly found in business and commercial districts such as in Makati City.
Because of its location, condominiums can offer the accessibility that many Filipinos are looking for, allowing them to access their workplaces without too much hassle due to rush hour. Another major advantage of condominiums is its amenities in which many of these condominiums can either offer gyms, indoor swimming pools, sports complexes, or all of it.
The disadvantage of these types of condominiums is its environment, which lacks the necessary facilities that can accommodate the needs of growing children. Although there are condominium complexes found around the outskirts of Metro Manila that can offer the right environment for a growing Filipino family, the disadvantage of this is its inaccessibility to business and commercial districts as well as its expensiveness.
Houses The reason why houses still remained as one of the most in-demand types of residential Philippine real estate
is because of its affordability. According to many Filipinos, the cost of a single condominium unit in Makati City or in any other business districts is enough for them to buy a 2 to 3-story house in neighboring residential districts such as in Caloocan City and in some parts of Quezon City.
However, there are a number of new houses in the Philippines that can offer benefits that modern Filipino families can enjoy. This is because these new houses are found in exclusive housing communities, similar to subdivisions, around the outskirts of Metro Manila.
Along with its exclusivity, these new housing communities can also offer the same amenities that condominiums and condominium complexes can offer such as swimming pools, sports complexes, playgrounds, and recreational parks. The best thing about the houses available in these areas is that these can be owned and paid in installment, making it more cost-efficient compared to renting.
The disadvantage of these new houses, like many other types of housings, is its inaccessibility to key locations around the Philippines, particularly with business and commercial districts. Another is that these types of housings are not as luxurious compared to living in a condominium unit.
Real estate boom in India has activated many dormant areas to become super- active. Surajkund is currently going through this phase of activation and is ready to cross the threshold in order to emerge as a real estate destination. This boom is further strengthened by the relaxation of Foreign Direct Investment (FDI) in the real estate and construction sector. Additionally, the retail segment has opened the doors for the commercial real estate sector of India. Faridabad is fast becoming the next hot destination for expanding developmental activities. The pace of real estate growth is expected to prosper well as more and more companies are now choosing to opt for Surajkund. The city has become a prominent investment destination due to its proximity to Delhi and also because of the rising values of the real estate in Gurgaon and Noida.
Faridabad has traditionally been an industrial city, with 300 large and 10,000 small scale units and the Haryana Government’s new Industrial Model Township. However, the industrial town of Faridabad is now noticing new residential developments, especially in Surajkund village that spans across 30 acres. Surajkund, already known for its international Mela, is now a residential delight for many. The Surajkund mela was launched in 1981 by the Haryana Tourism and is held in the month of February from 1st-15th every year. This craft Mela (fair) serves as a meeting ground for talented artists, painters, weavers, sculptors and craftsmen from all over India who display handicraft products in the typical setting of a rural Indian market place. The place is visited by number of domestic and International tourists and the foot-falls seems to be multiplying every year.
Away from the hectic and congested life, Surajkund offers an environment like no other place in Delhi. The place displays a sense of peace and traditional touch which is envied by every Delhiite. People are opting for Surajkund for its peaceful natural surroundings. Renowned developers are coming up with township projects in and around localities of Surajkund. The first township project near Surajkund is Charmwood Village by the Eros Group covered in the area of 65 acres. Omaxe, Ansals are also setting up their residential projects.
These attractive townships are sufficient to satisfy the needs of people. Bungalows, apartments and villas are available here with all the modern amenities. The rates of residential properties range between Rs 6,500-Rs 8,000 per sq ft. The rent is around Rs 20,000 for 2 BHK flat and varies on the bases of size and type. Ansal and Crown Plaza have lavishly designed malls catering to children’s entertainment and hospitality, along with other commercial and residential projects. Numbers of other residential projects are in pipeline and soon going to be launched.
Social infrastructure is also developing at the fast pace to support the physical infrastructure in Surajkund. All the national and international based schools and educational institutes have come up in the periphery to benefit the students with a pollution free atmosphere. MNV public school, Delhi Public School and Manav Rachna School are to name a few. Transportation is also improving by and by with Delhi’s bus stand just 1 km from the Surajkund. Local rickshaws and autos are also available for intra-city connectivity.
The property price of Surajkund has increased three times in last couple of years. Planned infrastructure, township projects of big brands, proposed Metro in main Faridabad and rise in the prices of real estate property of other cities, involvement of Haryana government in the overall development of Surajkund make it a good choice for real estate investors.