Thursday, November 29, 2012

Four mistakes new property investors often make

Buying properties for investment purposes is a good way to make the most out of your hard-earned money and secure your future and that of your family. However, it's important to remember that investment properties do not offer a get-rich-quick scheme; rather, you need considerable amounts of time, hard work and funding for your investment to eventually pay off. For those who are new to investing in properties, the prospect of earning large sums from your purchase may sound really exciting, but it's important to keep calm and think of the future in an objective manner. To help prospective investors, the head of the Berkeley Capital Group, shares the four most common mistakes that new investors must avoid:

Diving into investments without a plan - Investing in real estate is more than just buying a house, fixing it up and selling or renting it out in the future. There are many factors that will help influence the success of your investment, such as the state of the economy and future developments for the area where your property is located. It's important to think your plans through and prepare well to protect yourself from failed investments - you have to take into account factors that will affect your property and carefully assess whether it's worth the risk or not.

Not doing enough research - Before entering into the business of real estate-or any area of business, for that matter, it's best to understand first the ins and outs of the system. Doing adequate research also protects you from failed investments in the future because it helps you determine whether the property you are buying is truly profitable. More importantly, doing research on properties you are interested in will help you avoid paying more than what the property is really worth.

Not getting assistance from experts - People who are new to investing often think that they can do things themselves. Adequate research does equip you with the basic information needed to make a successful investment; however, there are certain tasks where you will still need professional assistance, such as during property appraisals or inspections for damage. If renovation is also part of your investment plans, experts can still help make the process easier for you. As a new investor, it's important to acknowledge your own weaknesses and learn to know when it's time to call in for help.

Underestimating costs - Taxes and renovation costs can take a significant amount out of your future earnings, so it's very important to be realistic about them. Don't buy a dilapidated house thinking that you'll only need a few cans of paint to make it ready for the market. If you can't assess how much you will be spending on taxes and renovation, consult an expert and get an estimate for these expenses.

Based on the article by Georgia K San

Thursday, November 22, 2012

Tips on buying a profitable investment property

Although you have to consider essentially the same factors, buying a home for investment purposes is still different from purchasing a home for settlement; you have to pay closer attention to present factors that can influence future prices and you also need to consider other expenses that can offset or reduce your earnings later on. Experts in the real estate market offer the following tips to help prospective investors find a truly profitable piece of property:

Do your research.If you are a first-time investor, it would pay to study the market as well as the risks and benefits of investing in properties. Be sure to brush up on the basics, such as the various factors that affect property prices and how these cause prices to rise or drop. Also pay attention to trends and news on the market and understand how these can influence the market. It's really important to become familiar with the ins and outs of the real estate business before buying investment properties as thorough preparation is one really good way to ensure success in the business.

Choose properties in a promising area.If you have done your research right, you will eventually come across "promising" areas where you can buy properties that will yield great profits. Promising does not necessarily translate to upscale properties that fetch high sale or rental prices, or cheap investments that allow you to return your investment quickly. A promising location is one that offers special features that are truly attractive to tenants. These features include schools for families, entertainment hubs for young professionals, or low-cost housing for college students. These promising features may differ with each type of tenant, and as such, you will have to...

Consider the type of tenants in the area. It may be tempting to choose a piece of properties based on what you would want yourself, but it's best to think of what your target tenants would like instead. When choosing properties, ask yourself what features your tenants would like or need. For instance, if you are catering to the college crowd, easy access to amenities, such as Laundromats, grocery stores or coffee shops may be important. If you plan on having families or young professionals as tenants, the property features you need to prioritise will change accordingly.

Take into account future expenses. As an investor, you need to carefully consider the expenses that will later on influence how much you earn from your investment. These include expenses for home repairs or renovations to make the house attractive to tenants and the taxes you will have to pay for on a regular basis. Make sure to include all these into your cost calculations to ensure that you will be able to afford purchasing the property and eventually earn back your initial investment.

There are several factors to contemplate about when deciding for a property that you will eventually turn into an investment. Some of these aspects might be the same as an estate deemed to be a residential house, but some are not.

Based on the article by Georgia K San

Wednesday, November 14, 2012

WR Gurney Plaza Roadshow (12-18/11/12)

Here are some images taken from the on-going roadshow at Gurney Plaza. The Chic Urban Living Redefined concept is really getting a warm reception from the crowd at this popular shopping and lifestyle destination. This roadshow is rather unique as WR will be sharing the limelight with D'Majestic - another exclusive project by PJ Group located within the KL's Pudu Corridor that features a 5-storey luxurious suites and 9- storey `Residenz' tower.