Month: May 2018
If you are new to the world of property development you may be unaware of the kinds of financing tht are available for these projects. Some types are more appropriate for certain kinds of development projects and the requirements attached to financing may vary from project to project. For example, you may need to put more money down and pay a different interest rate if you are purchasing a commercial versus a residential property. Here is a breakdown of some of the kinds of financing that are available.
Residential Property financing
Financing used to purchase a residential property is usually the kind of financing that people are most familiar with. This is because residential property financing is used to secure a persons primary residence. However, the type of financing that you would look for in order to purchase an income property or a property that is not your primary residence will often be very different than what you would be trying to secure for your own home.
Although there are set mortgage rates this is usually not the case with financing that is obtained for development projects. You will often need to provide information such as how much property development experience you have and what the scale of the project will be. The rates you pay will vary from lending institution to lending institution and from project to project.
You will often need to put more money down on a development project than you would on a property that you plan to live in. This will often include the building costs as well as the cost of the real estate that is being built on.
Financing for Commercial Properties
Like residential development projects, the rates you will pay to secure financing for a commercial property will also vary significantly. You may need to speak at length to lending institutions about the project and how viable it is. You may also find that there is a good deal more of involvement from a lending institution on a commercial development project than there would be on a residential development project.
A much larger deposit is often required for a commercial property and the interest rates are often higher. You may also need to provide a large amount of data and documentation surrounding the project that you want to begin working on. You may find that certain lending companies may be more willing to take on a commercial project than others will so dont be afraid to do a bit of searching if you are not getting a good response from the first lending institution you approach.
There are times that short-term funding may be required to be able to take on a development project. In this case you may want to look at bridging finance opportunities. They are usually for a period of not more than one year although different lending institutions will have a range of terms for you to look at and compare.
By learning what your different financing options are you will be able to get the money you need to be able to take on those property development projects you find most appealing.
Off plan condominium purchase in Thailand means buying a condo in a planning stage or a condominium not yet fully constructed. The standard payment schedule found in an off-the-plan sale and purchase agreement of a condominium in Thailand is:
1. a reservation agreement with a reservation fee of 100,000 baht (approx 3300 USD)
2. a deposit of 10 to 20% of the purchase price on the execution of the condominium sale and purchase agreement
3. periodical installments during the construction of the condominium with a final installment of 1/12th to 1/20th of the purchase price upon transfer of ownership of the condominium.
Who to pay to?
Paying in escrow for a condo in Thailand means that payments are made to an Escrow Act licensed third party financial institution or bank that will hold the deposited monies till the conditions of the condominium sale and purchase agreement have been met, depending on the contract. The use of escrow services in Thailand for property purchases is not common!!
Generally developers in Thailand DO NOT offer escrow payment arrangements. Property developers in Thailand are under the Escrow Act or new Condominium Act and Condo Act regulations NOT required to offer escrow agreements to consumers. Property developers in Thailand are free to require deposits and installments in agreements without offering any protection for the purchaser payments. There is no legal protection structure in place for realty buyers. This part simply depends on the agreed and accepted contract terms and conditions between the seller and purchaser. If the buyer pays directly into the developer’s account this is an accepted risk he as the purchaser takes.
In 99% of the property development projects in Thailand the purchaser makes the payments directly to the developers bank account. Obviously payment made directly to the developer, as opposed to payments made in escrow, carries some serious financial risks for buyers in case of default by the developer. They risk loosing all. In addition, pre-paying the development, the buyer looses all leverage in case of delay or poor workmanship. At the time of completion the buyer has paid up to 95% of the purchase price and the developer is in a much stronger position and can simply refuse transfer of ownership to the buyer.
The developers company
The standard payment schedule by which the purchase price is paid directly to the developers bank account during the construction or even before the start of a condominium project carries risks of losing your payments in case of default or bankruptcy of the developer.
An important part of this arrangement is the developers company. Is it a large SET listed (Thailand stock exchange) real estate developer or a limited liability company with a low share capital and a poor track record? Limited liability for the developer means limited liability and in case of default there is for the buyers little chance of getting any of the payments back.
The Condominium Act supposed to protect the interests of the buyers of condos in Thailand but does not require the establishment of escrow arrangements in an off-plan condominium development.
Paying directly to the developer in Thailand is taking a risk.
What exactly is a commercial property scout? Basically, this is a person who is on the look out for ‘promising’ real estate. The process looks like this:
1. You learn the techniques from the Property Scout Training Manual.
2. Then, you search through local ads and observe the real-estate developments in the neighborhood.
3. When you see something that looks like a business opportunity, you contact the investors.
4. They assess whether the real estate meets their criteria.
5. If it does, they make an offer to the owner.
6. If the owner agrees to the offer, the investors buy the property in question
7. The same real estate is later on sold at a higher price
8. The property scout gets the share of the profit
There are several ways a property scout is paid. How you get paid, depends on the timing of the payment. You can get paid immediately after the investor group decides to make an offer and they mail the Letter of intend. If you do so, you get $300, regardless if the property is later bought or not. Or, you can decide to collect your money after the acquisition. In this case, you are going to receive $15.000 within 10 days of transaction. But if you are willing to wait till the property is bought and resold, you will get 3% of the total profit. The later option can prove to be the most profitable as the profits are often very high, but it is also the most risky. Maverick Group lets you decide how much and when you want to get paid based on your personal preferences.
There is no investment on your part (except for the initial sign-up fee that covers the cost of the Property Scout Training Manual). All you need to put in is some time and willingness to learn and observe.
The real estate scenario looks gloomy in the current scenario, but a couple of cities are sure to stay ahead of the rest even in the current scenario. Pune, one of the hottest real estate destinations will continue to see stabilized prices and an appreciation in prices in the long run. There are various reasons that can be attributed to the growth of the city.
Pune is a commercial hub with dominance of industries including IT andITeS, Automobiles. Petrochemicals. Oil and Gas, Engineering. Financial Services, Textiles. Companies have displayed a brilliant growth within the city. The city is centrally located and makes fro a good hub for manufacturing companies. Swanky office buildings host the biggies of the word like Mercedes Benz , GM and many more. This has led to extensive commercial development in the city. Infact, companies from other sectors also eye the city including Biotech, Hospitality etc
Some of the advantages of being in Pune real estate include the following
Pune is the second largest city in Maharashtra and sixth largest city in the country with a population of 7.2 million people with a high purchasing power. It is also a prominent education centre. The city has over 100 colleges and institutions of higher learning including 14 Engineering Colleges and 10 B-Schools. A large number of ITI s provide the necessary shop floor skills. Scientific institutions and the substantial presence of IT companies assure a supply of high quality knowledge base.
Pune is also emerging as a prominent city for BPO due to the availability of skilled English speaking manpower. The city houses a large number of national and international players including Tata Motors, Bajaj Auto, Daimler Chrysler, Fiat, Bharat Forge, Tata Consultancy Services, Infosys and Wipro, among others. It has 12 focus industry areas including automobiles, chemicals, consumer durables, engineering and Information Technology.
The commercial property development of the city can largely be attributed to the state, Government and the infrastructure. The advantages of being in Maharashtra include the following. It is the largest economy in the country, with a high per capita income and one of the most attractive investment destination in the country, accounting for 40 per cent of exports. This has also fostered the presence of reputed R&D centres in the city.
The IT presence in the city is largely attributed to the bold and visionary IT policy. Initiated by the State Government, it is responsible for attracting companies to set up shop in the state. The Policy includes exemption for IT units from various taxes and duties, permission to set up units anywhere in the state without restrictions, setting up of Special Export Zones and various other government initiatives to boost the IT culture within the state. Software Exports: Maharashtra accounts for more than 30 percent of the countrys software exports, with over 1,200 software units based in the state, thus providing a familiar and friendly environment for IT companies.
The government of Maharashtra has undertaken the ambitious project of developing the Mumbai-Pune Knowledge Corridor, thereby creating a natural home for companies from all over the world, seeking to set up their IT or ITES activities in a safe, business-friendly and progressive environment with world-class facilities and infrastructure, with a long term perspective.
Committed huge investments in the state include Boeing Rs 500 crore (Rs 5 billion) in Nagpur Volkswagen, Rs 2,350 crore (Rs 23.5 billion) in Pune, General Motors Rs 1,350 crore (Rs 13.5 billion) in Pune, Bajaj Auto Rs 2,000 crore (Rs 20 billion) in Pune/Aurangabad, Hyundai Heavy industries Rs. 260 Crores in Pune, Mahindra & Mahindra Rs. 2000 crores in SEZ, Microsoft and Videocon.
All of the above reasons are sure to be the reasons for continued growth in the city for years.
Residential real estate at Pune is all set to create new benchmarks. To cater to the residential demand in the city, Pune needs almost 40,000 residential properties every year to meet the housing demand in the city. Thus, the Public Private partnership will create a new city sky line.
The upcoming residential areas include: Kalyani Nagar, Kawade Road, Hadapsar, Thergaon, Ambegaon, Balewadi and Wagholi among others.
Thus, jump into the Pune realty bandwagon and search for a house to invest or live in. To find that dream property, it is recommended that you search online and find your options before getting on the ground. Thus, you can save precious time and money. With the prices just stabilizing, it is an opportune time to get that house you have always dreamt of.
When we think of taking rental house, the first thing that comes in mind is what to prefer for rent single, family home or townhouse. Well, if we analysis the real estate market there is increase demand of townhouse for rent insisted of single-family homes due to its great benefits. Townhouse refer to the style of housing in which there is a row of identical or mirror image houses that share common sidewalls along with the benefits like swimming pools, gyms, and common areas like gardens out front or backyards etc.
Townhouse is considered a perfect choice for the People who have moderate-income due to its reasonable cost along with the advantages that are not offered by any other types of houses. The most important advantage of such type of houses is its construction in row and having common sidewalls that make it more secure and reduces the risk of robbery, theft and pilferage. It is better to choose a townhouse for rent due to its facilities like swimming pools, gyms, and common areas like gardens out front or backyards etc that make it look classier and raise your standard also. While choosing this type of home you have a chance to choose from a wide choice of structural design from a traditional to contemporary, from rustic to elegant according to your preference.
In the real estate market, townhouse for rent is increasing and many people are going for a townhouse for rent after fully furnishing the house. Those who do not want to spend much money on renting apartment or hotel room, townhouse is the best option of renting. You will be surprise to know that townhouse is also gaining popularity in tour & travel industry. With such an affordable rent, facilities and security, tourists also want to stay here and enjoy vacation instead of hotels or other apartments.
You can always prefer townhouse for rent for residing, as it gives you the freedom of using facilities like spa, tennis court, barbeque, fitness rooms and swimming pools etc and make you relief from the maintenance charges you just need to pay rent and the rest are looked by the owner. Although some town homes associations have stricter rules regarding children and pets, which can sometimes get over bearing but still the association take care of such elements and make you feel comfortable.
It is very easy to find townhouses for rent, the most easy and convenient method of finding is through internet. There are several real estate websites and each of them has a lot of information related to townhouses for rent, such as location, neighborhood, facilities provided, cost etc. Thus, with the help of internet and real estate websites, you can narrow your search down to what exactly you are looking for and easily find out the perfect Townhouse for yourself.
Thinking of buying a home with a well? While you might be used to city water, 44% of households in the US are dependent on well water, with about 13% of them privately owned and operated, according to the National Ground Water Association. While wells can be a very reliable source of drinking water reliable source of drinking water, there is a learning curve about well ownership. Your real estate agent can be a valuable resource in this area as they will be able to get the documentation that confirms that the well conforms to all state and local ordinances and that it has been properly maintained. Without doing the proper due diligence, you might be positioned to quite literally throw your money into a hole in the ground.
What to Expect from the Seller
In many states, home sellers must pay for water tests and disclose the results to potential buyers. Smart owners will have an inspection done prior to putting the home on the market and use the results as a selling point. Where the law does not require inspections and testing, savvy buyers request a well inspection and water test as a contingency on offers to buy a property, as a well inspection is not included in the standard home inspection and requires a specialist. If the results do not prove favorable, you can cancel the sale or request the seller make things right.
In the absence of an inspection prior to sale, you can find yourself with a costly problem.
What to Look for when Buying a Home with a Well
As a buyer, there are several things to consider when examining property that has a well.
First of all, how does the water taste and look? If minerals or bacteria have leached into the water, you should notice that the taste and appearance of the water are off. This is a sign that you need the well inspected and the water tested for contaminants.
Water problems are often dominant in an area. You can often find information about local water problems on the EPA website as well as from local testing companies. If there is a factory, an agricultural operation, or a coal mine near the property you are viewing, a lab might test for specific chemicals such as sulfide, nitrate, iron, chloride, or other chemicals related to the industry.
Well owners should have maintenance records available to verify how old the well is, whether there are other old wells on the property, compliance with local codes, and past testing results. Seeing the past records will indicate how much time you have before you might need to replace the well, and alert you to other problems related to it.
Since wells have an average life expectancy of 20-plus years, the home should be set on two or three acres of property to assure that you have enough acreage to have another well drilled in the future.
The current well should be properly located on the property so that it is at least 100 feet away from backyard chicken or poultry coups and the nearest edge of the septic drainfield, and 50 feet away from the house and any pesticide applications. The wellhead should also be positioned so that rain water flows away from it.
Get Help to Determine the Condition of the Well
With the help of your real estate agent and well and water professionals, you should get a good idea of what to expect if you buy a specific property with a well. Many water quality issues can be handled with testing and installation of water treatment equipment, but some well problems require more extensive, costly repairs that might make buying a home with a well impractical.
A single person can exclude up to $250,000 of the gain from the sale of their home and a married couple up to $500,000. However, there are qualifications, rules, exceptions to the rules and special situations. This article outlines the major rules and clears up many misunderstandings.
First, you must meet two tests: the ownership test and the use test.
The Ownership Test
This test requires ownership of the property for at least two of the five years prior to the sale. The ownership does not have to be continuous.
The Use Test
The use test requires that you lived in the home as your principal residence for 2 years during the 5 years preceding the sale. Again, the 2 years do not have to continuous. Short temporary absences, such as vacations or spending a couple or months in the summer at the lake, are periods of use. Even if you rent out your home while you are gone, there is no interruption in your period of use.
The periods used to satisfy both of these tests do not have to be the same. In addition, members of the Armed Services or Foreign Services can choose to suspend these tests for any period they or their spouse is on “qualified official extended duty”. If people become mentally or physically unable to care for themselves or have to go into a nursing home, the two-year use requirement shortens to one year. Therefore, it is possible to qualify without actually living in the home for the required two years.
For people who have lost their homes to hurricanes, floods, tornadoes and other natural disasters, or have had them condemned, a special rule applies. They can add the time they lived in the home destroyed or condemned to the time they have lived in the home on which they want to exclude gain.
What is a Home?
A home, for capital gain exclusion purposes, must be your “main” home. It could be a house, houseboat, mobile home, co-op apartment or condominium. Note that if you sell the land on which your home is located, you cannot exclude the gain from the sale of the land. An example would be selling the land on which your mobile home sets, buying another piece of property and moving your mobile home to the new location.
If you own a vacant lot next to your home and sell it as part of your home sale, special rules apply. If you own a home in the city and a cabin in the mountains, the home where you spend the most time is the one where the tax exclusion applies. There are at least nine tests used to determine your main home if you own more than one.
First, you must meet the ownership and use tests, or fall under one of the exceptions, and have not used the exclusion on the sale of another home within two years of the current sale.
If you are single, you can exclude up to $250,000 of the gain on a sale. If you own the home jointly with someone else, and each of you files single returns, each can exclude up to $250,000 of their interest in the home.
Every woman dreads the coming of menopause, which is defined as the single day that follows 12 months without menstruation. It isn’t so much the cessation of menstruation that is feared (many women actually welcome this particular change), rather it is the transition stage before menopause that women are afraid of. The unpredictable nature of hormones gives no fair warning to women, and they never know when or what will strike.
Breast tenderness occurs due to the many changes which your breasts undergo during your pregnancy. Your breasts begin to grow and change in preparation to feeding your baby. Your breasts are growing and the breast skin is stretching (which may cause stretch marks and sagginess). During your first pregnancy your breasts may grow up to two cup sizes. You may feel itching all over your breasts and a great sensitivity in your nipples. Some women even develop breast soreness which may be experienced during exercise or sleeping on their stomach. What you are sure to feel is that your breasts are much heavier.
Liver is important in fat and protein metabolism. Sluggish liver causes abnormal function of liver in regulating the levels of Omega 3 and 6 fatty acids resulting in increasing the imbalance of levels of PGE2 leading to breast tenderness and pain.Vitamins and minerals deficiency
Breast tenderness during menstruation causes discomfort and unsettled mind to you as a woman. As healthy nutrition implies changes in lifestyle so as exercise program is recommended to breast tenderness. Not only that, natural treatment like alternative medicine is also good in handling breast tenderness most especially during menstruation.
The main reproductive hormones are oestrogen and progesterone. At puberty, these initiate the development of breasts, which are comprised of ducts (tubes) and alveolar tissue, similar to the alveoli (air sacs) found in the lungs. During pregnancy, the alveolar tissue grows under the influence of oestrogen and progesterone, plus prolactin (the milk-producing hormone produced by the pituitary) and placental lactogen (the hormone produced by the placenta in the final stages of pregnancy). Milk is produced in the alveolar tissue, collected by the ducts and drawn down towards the nipples.
Removing or reducing the caffeine out of your diet is recommended to reduce the pain. Many women have reported an improvement in the discomfort and pain after approximately two months, while some women do not report any relief. If committed, some women find that the response is more slowly and may take up to a year. For immediate pain relief you can try a topical pain relief gel that is not heat based.
Fibrocystic breasts or that thick and lumpy feeling, are typically a sign of relatively high estrogen and low progesterone levels. Research has shown that progesterone cream can significantly reduce this symptom, as well as other supplementation such as with magnesium, Vitamin E, a high-quality omega 3 and Vitamin B6. Increasing fiber and eating dark green leafy vegetables can help flush out excess estrogen. Consider a short fast or detoxification.
As hormonal imbalance is the most probable cause for breast tenderness during menstruation periods, the first step is to ensure your body has the support it needs to maintain good hormonal levels. The best way to go should be to start with a healthy nutrition and maybe follow a hormonal imbalance treatment such as alternative medicine.
Hip Hop artist and Rapper Lexikon show a truly unique combination of talents. His intelligent sound has helped expose a new niche of hip-hop where the typical bubblegum, dumbed down rap has no bearing. College educated and street smart, Lexikon has established a successful career in the banking industry while pursuing passion writing, recording, and performing his music. Lexikon explains that, its about relating my experiences with educated fans that want to hear substance and meaning in the upbeat music they listen to. Recently featured on Chicagos Power 92.3 and RawTV Radio, Lexikon is starting to create a buzz in Chicago. With his highly anticipated mix tape coming soon, Lex is on pace to give the hip-hop world a well-deserved facelift.
Hip Hop Music:
Dream on suits- Ive pierced the corporate veil
They say when one door closes another door opens dont realize it before the sound of that alarm clock awakens you to familiar scenes of Groundhog Day and smells of Folgers coffee cuz the best part of waking up is not always the location were headed. Yea yea, live for the moment, tomorrow is never promised. So why are we still so conservative?
I cant speak for the gander but we generally dream to make enough money to afford high end fashion, BMWs, large homes and vacation condos in Maui. Did you notice the words credit, liability, finance, or pay it later in that sentence? A long time back someone very smart decided a quicker, better way for us to achieve these goals, credit, unfortunately, they portray an eerie paradox that tends to keep us further from those dreams.
Ask yourself this, will you be more willing to chase those aspirations when you have a kid and a 250k mortgage, or when 1/4 of your budget is spent on spilled bar drinks and hotel weddings?
At the age of 24, making your avg 50-60k as a banker, grinding the corporate rat race with simple expenses and a new home purchase on the horizon, I have come to grips with this concept and am breaking away from the suits to carve a path that is more in tune with my dreams.
After that monkey suit comes off, the time I have had to bring you catchy hip hop songs, shows and videos that keeps your minds off of those dreaded serving jobs is limitedThat ends now!
This is my life my liberty and my pursuit, put it through the mic and feel my soul in the booth
Get ready for the rival and full push of Lexikon Music. Coming to a speaker near you
Condos can be a terrific investment whether you are buying them for your own use or to let out. You will have to think about lots of things prior to buying a condo that will satisfy you.
You require the right devices to enable you obtain an appropriate condo. You require the net, real estate agent and financing if you are not paying in money.
Searching the web will help you discover offered condominium in your location of interest while the real estate agent will help you with the search and provide expert insight. Funding will just be required if you are not paying in cash.
How far off social facilities like schools, healthcare facilities, commuter rail, shopping center and home entertainment spots are, could affect the choice of a condominium The closeness to these features reduces expenses which can have been incurred on fuel. How far great schools are from the condo would affect some prospective condominium owners with children.
Another crucial element would be the price of the condo. All of us would love to save as much as feasible. It is very important to note that as much as you want to buy cheap, you need to guarantee that the resale value of the property is high simply in case you might wish to sell it in the future. Guarantee you get worth for the cash you pay.
It is essential to understand the taxes charged for condominium in various places. You will make some significant savings on tax if you pay lesser taxes. Only check online for property tax records of the complex after making a decision on the condominium you wish to purchase. Looking at this info, you are able to inform the amount of units are owner occupied and how the taxes have been for the last few years.
When buying a condo, examine deferred upkeep. By driving through the condo complex and close-by locations you can examine this. If you discover that the intricate and the close-by locations seem upkeep is deferred, you can continue your search in another property.
The realty representative can discover if there are any current or upcoming special evaluations after you have discovered the condominium you want. Are there major remodellings that are not covered by the homeowner’s association charges? You will know whether getting a condo is a clever selection after gathering the above information.
The policies and law established by the home owners association is an additional vital element to take into account. Are pets allowed in the complex? Are you entitled to a parking spot? Are water bills separate?
The rental rate in the area is an important factor to consider for a condo to be used as a rental home. You should decide whether the cost you are paying makes financial sense. One advantage of having a condominium as a rental home is that the outside maintenance is taken care for you.
If a community newsletter is available, you can quickly get it from the countertop in the utility room or on a club house table. Undergo it. Checking out the newsletter will help you have a rough idea of the locals.
With the above pointers, discovering the right condominium should be a simple task.