How to Make it in Real Estate Investment

How to Make it in Real Estate Investment

There are many real estate professionals who would flunk in just a few months as they try to create a business enterprise most especially out of real estate investment. There is a trick here – and it will start with the creation of a beneficial marketing plan. Afterward, it has to be practiced with a disciplined effort. It has to occur on a regular basis. Indeed, there are many required in order to succeed here. As you go along, you will definitely see more tricks, tips, and other techniques. You must embrace them.

Is there anybody who would not recognize the importance of purchasing a home for themselves? If you are a professional real estate agent, you surely know what this is all about. This means that if you are not going to perform on marketing or providing real estate information, you are unlikely to succeed here. That is why you have to be vigilant in making your presence known. This is too important for you to miss.

How Do You Succeed in Real Estate?

If you are a real estate agent and you want to make it big in the business, here are some of the things that you can do in order to stay triumphant. Please take note of the following:

Work on classified ads

The most important thing is to always work on a classified advertisement. This is crucial. If you must be affiliated with a prominent newspaper, and then so be it. There is a region in which this might actually be effective for you. It may be costly but there is surely a return on investment at the end of the day. Do not be afraid to take this bold step for your venture.

Pursue ads in freebie papers too

Which means that you must not be afraid to run freebie papers if you look upon local region. This is a platform wherein you can conduct the best real estate investment deals. For instance, there may be a column ad and a display in the newspaper which can be the best opportunity to promote your undertaking. This would work too. Consider it.

Put campaigns as bandit signs or road signs.

Little do people know that bandit signs may actually be great. They are efficient when it comes to working as a production tool available around. There is nothing wrong in putting a bunch of it if you must. There are those who put half a dozen on a monthly basis. There are also those who would continue as they make vigilant phone calls. Indeed, this can be an efficient real estate marketing technique available to many. This is available and it should be checked. There are also sign manufacturers who have to be contacted here. This may be fine too!

As a real estate agent, you should know who to be associated yourself with. When you are aware of them, it would not be impossible for you to make it big. Check on it!

The Homes and Condos in Singapore

The Homes and Condos in Singapore

Regardless of its limited small size, Singapore is still considered to be an important country as far as Asia is concerned. This is attributed to its industrial developments, international trade links, and sky-rocketing economic growth. Made of 63 islands, Singapore was colonized by British. This was the time when it turned out to be an independent nation. Ever since the country did not fail to record a growth in business. It emerged to be an industrial hub in the continent.

Needless to say, Singapore is a mixture of traditions and modernity. It is combination is enchanting. One of its parts feature mosques, temples, and cultural heritage; while the others go with stunning shopping malls, skyscrapers, gorgeous offices, restaurants, hotels, casinos and glitzy clubs. All of these are in just one country. Even if this is the case, the country still has clean and fresh air. It is green in nature for it imposes strict rules when it can. It is also a safe place to be in. For all of this reason, it is not shocking that there are individuals who want to make Singapore a permanent home.

Living in Singapore

If you want to settle in Singapore, you have to understand that its real estate comes with a wide array of sizes, price ranges, types, and locations. What is even good is that there are property managers, agents, and relocation managers who are usually part of reputable property firms. What else should you remember about the said industry in the place?

  • There are property firms out there which may provide information about apartments, houses, flats, and condos. For those who are looking for one, checking on these organizations would be of great help.
  • It is also easier to easier to locate a property because there are web portals which may be of assistance. They would show off information about builders, realtors, housing agents and contractors. Any of them may be contacted if the purpose is to keep in touch.
  • There is a ton of advertisements with regard to property for sale. One can also be rented. Usually, the entries have detailed information including size and type of apartment, photographs, number of rooms, prices and contact details. These may be chosen from depending on your preference.

There is nothing wrong if you would assure to only purchase apartments which are situated in the safe localities of Singapore. This is one. There are constructions which are said to be projects of luxury there. What is even good is that they come with exceptional facilities. They may provide modern comforts because they are being undertaken by credible builders.

To buy a home, you just have to be aware of the requirements you have to accomplish. The needs must come from you. You should know what you need and want. Cost is also another factor. Of course, you have to be realistic. If you have a budget, you must stick to it for sure. This will also affect your choice.

Here are your choices if your HDB BTO has reached MOP

Here are your choices if your HDB BTO has reached MOP

The end of the MOP means you can sell off your flat. Most people are not looking forward to disposing of it, but intend to make a profit out of the investment. At this property ownership stage, you might be wondering whether to upgrade or downgrade your flat. Some wonder if they will get more return if they stick more to the flat and sell it later. Generally, it the question of what to do next. Well, here are the choices you have.

Review the family size and finances to see if it essential to upgrade/downgrade the flat

For most of Singaporeans, giving their family comfort is a high priority. 5 years down the line, it’s most likely that your family has changed in size and structure. You might have increased in size or downgrade if children have left the next to their own homes. Another reason to increase is if your parents might have moved in with you.

If you need to increase the size of your flat, focus on getting a resale flat as they are more spacious. See flat like Marionettes, executive condos, etc. If you want to downgrade, 2-room HDB flat is economical.

Move closer to your parents and get a $20,000 grant in the next resale

If you have aged parents and you move closer to them, the government will reward you with a $20,000 proximity Housing Grant (PHG). This should be less than 2 km from where your parents live. Parents can also get a resale grant of the same amount if they move closer to their children.

Upgrade to executive condo without the resale levy

If you want to upgrade your lifestyle and have enough money not to take a mortgage, then consider purchasing an executive condominium (EC). Apart from the better facilities that come with condos, you will enjoy full renovation before you move in.

Get an investment property

One of the common Singaporean dreams is to own an investment property. Houses are always in high demand in the country with most people looking for a place to rent, especially foreigners. Since your HDB has MOP, you are free to purchase another HDB and rent the old one to Singaporeans, and after 10 years you can rent it out to foreigners.

Stay in your HDB and enjoy the capital appreciation

If you bought a new BTO, it is highly likely what you have already enjoyed capital appreciation. This is why you can choose to stay put and let the capital get even higher than sell it the future or choose the other above option. The best move, however, is to sell and move to a new one with a higher capital appreciation.

Real estate is a massive investment in Singapore. Sometimes, even making the above decision is difficult unless you are sure things will work as planned. This is why there exist consultancy firm in this niche to help you make a personalized arrangement. For example, you can get help in calculating the value of your house and advise on why you should follow a particular choice after your HDB has MOP.

Living in Singapore: A summary cost of renting a condo

Living in Singapore: A summary cost of renting a condo

Renting a condo entails other upfront costs besides the actual renting cost. These costs are easy to miss when people are planning to move. This article presents a breakdown of the costs involved in finding and living in a condo in Singapore.

Know your budget

Before you even start looking for that perfect condo for you and maybe your family, you need to have a good idea of how much you are willing to put as rent. List down your current monthly expenses in order of their importance. Usually, it is advisable to keep your monthly household budget below 35%. The household budget includes internet, electricity bills, water bills, and other utility bills.
Now let’s get to the overall expense of renting a condo in Singapore. A standard lease period of a condo in Singapore range between one to two years. Most landlords prefer 2 years, with the minimum lease period being 6 months.

Upfront renting charges

Let’s take an example of a S$8,000 monthly condo rental. Normally, you will have to pay an advance of S$8,000 which is equivalent to 1 month’s rent upon signing a letter of intent. After this, an equal amount of refundable deposit for a 1-year lease, or S$16,000 for a 2year lease. The refundable deposit is paid to the landlord upon signing a tenancy agreement.

Most landlords in Singapore use agents. For a 1-year lease, you will be required to pay your grant a commission which is half month your rent S$4,000 and the same amount if you renew your contract for a second year. So in total, that is S$8,000 for a 2 year renting. Then there are stamp duties which are 5% of the rent per year, S$400.

During the tenancy

During your stay in the condo, you will pay S$8,000 per month. To avoid rent delays, it is most recommended that you set up an automatic monthly wire transfer from your bank account. As per your monthly utility and electricity bills, you can add between S$300 to S$400 depending on your usage. Some of the utilities in renting a condo in Singapore are optional. However, you can estimate TV bills to be S$70 and S$80 for internet bills.

For air-conditioner maintenance, expected to spend between $150 and $200 per quarter. Most landlord offer to take care of air conditioner in case it breaks down. These cost of renting a condo is Singapore should give you a rough picture of your monthly, quarterly and annual expenses.

End of tenancy

When moving out, you need to and over the condo back to the owner in an official manner. This is fair both to the landlord and the new tenant about to occupy the condominium. To leave everything in place and working, budget a S$300 for minor repairs, same amount for curtains to be washed and S$100 for the condo to be thoroughly cleaned.

The importance of a proper financial plan for renting a condo in Singapore helps to identify all cost. You can also research on related cost such as moving back and forth between your condo and place of work to help you decide which neighborhood suit you best.

Ways to increase the value of your condominium unit

Ways to increase the value of your condominium unit

Most condominiums in Singapore are cozy, fresh and clean. They occupy a limited space, but still provide everything that is needed. Their proximity to schools and offices makes them excellent. You can also find recreational areas such as gym and swimming pools without having to leave the premises. Condos are in high demand in Singapore. If you are planning to sell yours, you might want to give it a modern prefab home to fetch an even better profit. Here are some brilliant suggestions on how to do it.

Bathroom makeover

Potential buyer never misses the bathroom when evaluating a place. To make the room undeniable, you need to work on chipped tiles, repaint the walls and get rid of any stains. Keep it fresh, organized and clean, and you will be selling your house to the highest bidder.

Go green

Singapore is a small and highly populated country. However, no one wants to destroy the environment. Making your condo environmental friendly shows, you are responsible, and you promote ecological conservation. Way to go green includes having plant pot to make the air fresh, using energy saving light and low-flow shower heads.

Organize furniture

To add some touch to furniture you can choose to replace them or add more furniture to give the room some life. The most important thing is to ensure they coordinate with the rest of interior. Old furniture should be repainted, while sofas and pillows washed to get rid of any bad smell. Rugs and carpets also need to be checked out.

Condo maintenance

Maintenance includes ensuring everything is running efficiently. Pay attention to appliances such as stoves, shower head, and heaters. By fixing such items, they last longer and don’t fail when displaying them to potential buyers. Majority of buyers are after a fully functional house. They want to avoid the stress of fixing things later. It means going for brand new items, so be it. However, remember to include the cost of the condo market price.

Get rid of bad odor

A bad smelling condo is a major turnoff. No one wants to leave in the stuffy room. Before putting the condo on the market, thoroughly clean the unit, change floorboards, carpets and repaint the walls. Getting a professional help might be the better option as it might be a hassle making such smells disappear.

Clean and create storage

Most condos don’t have a garage. Regardless you need to keep garbage tucked away in an organized manner. This makes the room more spacious and easy to move around. You can have closet with enough compartment to keep everything in the right place. Shelves are also efficient in maximizing space in a condo.
Those are just but a few suggestion on how to maximize space in your condo. If you do them, you can be assured that the price of your condo will be higher and easier to sell. How about doing it with your family? It sure a great way to spend free time.

Introducing New EC at Anchorvale Lane: Rivercove Residence EC

Introducing New EC at Anchorvale Lane: Rivercove Residence EC

Rivercove Residence EC is brand new EC situated in the 226,000 sq feet area in the Anchorvale Lane D19 Sengkang district. The EC is expected to have about 635 fully furnished residential units along with all the required communal facilities and parking for the residents. Each unit of this wonderful EC is considered to have 3 to 5 bedroom types and hence best providers in the area locality wise as well as in terms of facilities also.

Rivercove Residences EC, a new project by Hoi Hup Realty constructors who is recently working on another project Sophia Hills at Dhoby Ghaut. The name of the Rivercove Residences is derived from its inspirational origin where it is locating the river bay of Sungei Punggol. Wonderful view, amazing location and much more what else better you require for your perfect dream home?

Features that make Rivercove Residences EC best among all

  • Excellent Connectivity: Rivercove Residences is located in the perfect location in the city. It is nearer to two major Expressways Tampines Expressway (TPE), and Seletar Expressway (SLE). Central Expressway and Layar LRT stations are also very much nearer to the walking distance of this wonderful EC. The best thing about this wonderful site location is that it is very much nearer to best schools and hospitals and other useful spots in the city.
  • Amenities and Facilities: Amenities and Facilities that are located to nearer to any residential community are the most important things that really needed to look forward before approaching the one for you. With the going on developments in the city of Singapore and the changing lifestyle the establishment of various malls and shopping complexes is going on increasing day by day. The best part of the Rivercove Residences EC is that it is located in a perfect location in the city which is easily accessible to all these. It is very much nearer to Sengkang Riverside Park, Sengkang Sculpture Park, Sengkang Sports and recreation center, Anchorvale Community club, and the upcoming Sengkang General and Community Hospital etc.
  • Layout: With reference to the previous projects of Hoi Hup Realty’s we can perfectly consider the basic plan of the Rivercove Residences EC. It is a wonderful place for starting up the small family to the number of generations and that too with suitable for everyone. Just go for booking your dream home now in Singapore as the market prices are getting really high day by day.
  • Renowned Developers: Hoi Hup Realty is one of the best developers of the Singapore which are continuously providing its services in the beautiful country for more than 34 years. The company includes various wonderful projects in its lists and well known for providing best services to the customers.

Investment potential: Rivercove Residences EC is one of the best investment plans you can think of right now. If you are financially stable and have capabilities you can buy some of the flats which you can use as your financial equities in future also.

3 Reasons why it is better to call yourself “The Property Manager” Rather than “The Landlord”

3 Reasons why it is better to call yourself “The Property Manager” Rather than “The Landlord”

Being the landlord or owner of a rental property can put you in some on the spot uncomfortable positions.  You might be better off in you are only known as the “property manager”.  You can also prevent the possibility of rather unfortunate scenarios in being known as the landlord.

 

Reasons why it is advantageous to be “The Property Manager” and not “The Landlord”

  1. When asked a question, tenants will not expect an answer immediately; since you still need to refer the question to the landlord. Tenants can expect things from you when they know you are the landlord, for instance, asking you to be lenient towards them for a late rental payment because of a personal emergency.  Or they can ask to keep a pet even though the lease states that there are no pets allowed.

When these unfortunate things happen you can just state that you are the property manager and would refer the questions to the landlord.  In a few days, you can give the answer in a not so emotionally charged manner than when it is expected of you to be the nice guy.

  1. When the answers given is not the tenants’ preferred ones, they won’t blame you but the nasty, evil landlord; you being just the manager. In this way, you can keep your treatment of all tenants equally fair without letting yourself being forced to make decisions that can bring discord between tenants.
  2. Being the landlord can cause connotations that you have lots of money, that you make money off your tenants, and that you do not care what they feel. Your tenants might be under the misconception that you will never have their interest at heart.  This can lead to some nasty conversations and accusations towards you.

To outright lie when asked directly if you are the landlord, is not what is suggested.  Introducing yourself as the Property Manager of the property will just allow you a bit of flexibility in response times.  You do not need to say you are not the landlord, but rather imply that the decision making is not yours alone.

5 Most Frequently Asked Questions when you are looking to buy a Home

5 Most Frequently Asked Questions when you are looking to buy a Home

Whether you are purchasing your first or your tenth home, you will always have questions.  Every time will cause the same myriad of feelings and the same emotions caused by the whole home buying process.

Even home buyers with lots of experience can have questions.  When you feel unsure, you should feel free to ask any question, even if you feel it is a dumb question.

 

5 Questions Frequently Asked When Buying a Home is considered:

  1. Should I speak to the bank before I start looking at houses?

Definitely, yes, you should get pre-approved before you start looking for a house.  Getting pre-approved will help you in knowing what price-range you can afford.  It is a waste of time to look at homes that are in a higher price range than what you can afford.  The bank will also be able to inform you about all the costs that go with buying a home, as well as what type of programs, loans, and mortgages are available to choose from.

  1. Do I need a Realtor?

It is recommended strongly that you do employ a Realtor.  A Realtor will represent your best interests through the whole process.  Having a Realtor will help things go smoothly.  Realtors are not all the same.  Make sure beforehand that you and the Realtor will be able to work together and understand each other.

  1. What type of Neighbourhood/area, are the house located in?

You might wonder about the crime statistics, local amenities, taxes, neighbourhood politics, economic growth, public transportation, good schools, and so much more.  A Realtor should not provide you with personal insights into what they think of a neighbourhood.  They might, however, give you pertinent information that will enable you to make the correct decisions on possible neighbourhoods and preferred areas.

  1. How Many Homes should I see before making a Decision and making an Offer?

The answer is actually quite easy and simple.  There is no specific number to look at before you choose your home.  If you immediately feel the first house you look at it, is everything you wanted, you make your offer.  But it can also take 25 or more homes to look through before you find the house you want.

  1. Is a Final Walk-through necessary?

Yes, between your last walk-through and the next time you see your house; a few weeks could have gone by.  A lot of things can change in that in-between time.  When you do the final walk-through you should check that the toilets are flushing properly, you should check if there is hot water and also check if the furnace is working.

Be prepared and well informed when you are buying a home.  It can make a huge difference if you are well educated in the processes of home buying before you even start to look at houses.

 

Are you a First Time Home Buyer? Will a Mortgage Loan work for you?

Are you a First Time Home Buyer?  Will a Mortgage Loan work for you?

When buying your first home, you can easily become overwhelmed with all the well-meaning advice you are given by people that already own a house.  Well-meaning people, who can say, “Been there, done that”, but, the problem is that buying a house is a personal venture for you and you have to decide for yourself what is the best options.  Such things are never the same for two persons.

Buying your first house is a milestone in life everybody aims for.  This is the place you are probably going to live in for the rest of your life.  You might be fortunate enough to raise a new family there and also entertain loved ones and friends.

However, there are things you have to consider before making any major decisions about buying a home.  The real estate market can change in the blink of an eye.  Buying a house can be a heavy burden on your budget.  If you want to make things a bit easier on your pocket, you might consider taking out a mortgage loan.  But first …..

 

Will taking out a mortgage loan work for me? 

What you can expect when taking out a mortgage loan:

  1. You will have a Mortgage Payment Monthly: The financial institution or bank will cover the biggest portion of the cost of the house.  In exchange, you will pay the monthly principal amount plus the interest on the whole amount.  Banks are strict with these payments and will issue you with a lien, which is a kind of security that covers the bank’s risk.  If you fail to pay the monthly amount the bank will take your home back.
  2. You can choose either a Fixed-Rate or Adjustable Interest Rate: A fixed-rate will have you pay the same interest rate per month.  Whether there are changes in the real estate market or not, your interest will stay the same.  This can be fortunate in the way that you will know what to expect.  Fixed-rate mortgages will run from 15 to 30 years.

The adjustable interest rate is run on a fixed rate for a certain term and then it will fluctuate with the changes in the real estate market.  This means that it can be lower when the interest rate is down but will go higher if the interest rate is higher.

  1. Keep a Good Watch on the Interest Rates: Interest rates fluctuate and are unstable.  If you decided to take the adjustable interest rate you should be especially watchful for changes.  You need to learn to read the signs correctly and take advantage of unstable interest rates.  Most banks allow refinancing of mortgages.  Refinancing will bring you lower interest rates as the years go by.

Buying a home with the help of a mortgage loan can now become a reality.  You can do research on all the best mortgage providers and then make an informed, knowledgeable decision on all the possibilities.