Variance Posh Real Estate Developers

Visit Our Website Renovating or remodeling a building maybe to give the house a facelift it desire or to attract good rental rates and less time in the market. If the purpose of renovating a house is to sell immediately, be sure not to spend more than you can sell the property for. Always try to stay within your budget while keeping the house beautiful and inviting. Also be careful not to bring in too much of your own personal style/features as prospective buyers may not share your views. Pros of Renovation You will be able to get a property at choice location : Areas that are fully developed will have some houses for sale that are good for renovation either for rental purposes or for outright sale. You may get a good price for a building that just needs renovation to bring it to an inviting taste for tenants or buyer without having to spend too much money : The cost of buying plus renovation may be far less than building a house from scratch. It increases the propert...

Visit Our Website Building a house from scratch for rental purposes or outright sale has its merits and demerits as compared to renovating an existing building.    Merits You can have an input on the architectural design of the house. You can decide how the external view and the interior of the house should look like. Creating an area with good and easy to move around living space can make the apartment appealing to tenants. You can decide the budget for the project. Based on your estimated selling price for the proposed property, you can decide on the budget you want to put into the investment to give you a reasonable profit margin. You can decide the number of bedrooms for each apartment. Most times with a good survey of the vicinity you will be able to tell what kind of apartment will rent faster and give higher returns. Example the difference between 1-bedroom apartment and 2- bedroom apartment or 2- bedroom apartment and 3- bedroom apartment may not be ...

Visit our website Some areas have lands that are highly over priced but the rent does not measure up. Investing in such an area will take longer time to recoup investment. The property will not also gain so much value after some years. Don’t invest in areas where you know your property will suffer rent void, give lower rental rate and/or get low property value appreciation. Below are some things to consider before buying a land for rental purposes. 1.    Compare land price to rental rate :     A good investor should be able to compare rental rates to land prices in different areas. This will give them an idea of where best to invest and get good returns. The bulk of the difference in the cost of similar real estate properties in different areas is usually the difference in cost of bare land in the different areas. In most cases, cost of labor and materials of the building structure is similar in a particular locality. Sometimes it is better to acquire a p...

Visit our website Are you thinking of investing in rental properties? If yes, congratulations, carefully planned and managed rental properties investment can be quite profitable in the long term while also allowing the investor to build wealth on the journey to financial freedom. Generally speaking, investments can be done with personal savings or loan. A loan can facilitate the ability to invest in real estate and make good profits; however, an investor has to be extremely careful before taking out loans to finance an investment in rental properties. This is because an inability to meet up with loan payments can quickly wipe out investments and leave an investor with debts and financial troubles. Here are some critical things to consider before investing personal savings or loan on a rental property: 1. Negotiate good deals on land/property purchases (buy at a price below current “fair market value”), this way, you already made a profit on the day you close-out the real e...

Visit our website In general, those who embark on life endeavors with a good strategy have the odds stacked in their favor to succeed. When starting off as a real estate investor (full time or as a side hustle), a good strategy or road map is outlined below: Stage 1 : Startup  Stage 2 : Growth Stage 3 : Financial Freedom Stage 1: Startup You can start with your personal savings or with a loan. Note that you need to be careful about starting a business or real estate investment with loans. Discuss with your financial planner/adviser before making the decision to invest a loan on rental property. There are 3 options for stage 1: a.   Purchase a piece of land and resell for a profit. Reinvest the original capital and profit. Search for good deals on land/property purchases (buy at a price below current “fair market value”), this way, you make some profit on the day you close-out the real estate purchase. b.   Purchase a piece of land an...

Visit Our Website Some property developers or real estate investors may prefer to sell or flip houses than to keep the house/property and rent or lease out. They may argue that due to the misuse of rented properties by tenants, delayed payment of rent, hassles involved in collecting rent and difficulties in evicting bad tenants, they adopt the strategy to build and sell. This way, such investors get back their capital and make some profit in the short-term. However, for long-term investment purposes, building a house to sell or to buy then renovate and sell might not be an investor’s best option. In this post, we at Variance Posh Ltd. will explain why rental properties can help achieve the dreams of financial independence. Why rental investments are better in the  long term The property owner has a lot to gain from renting/leasing out especially if the property is situated in a good neighborhood. The real estate investor can get good rents monthly/yearl...

Visit our website Most often than not, a lot of people seeking investments in rental properties are being discouraged due to the hassles involved in collecting rent from tenants. Some tenants are also known to have a poor maintenance culture and as such, leave the house in a deplorable state after moving out. Such tenants have failed to recognize that a lot of work, time and money went into getting the property to the enticing finished state that attracted them to rent the property in the first place. It should be noted that not all tenants are like this, but the disturbing truth is that many are.   Despite this disturbing reality of rent collection hassles and misuse of rental properties by some tenants, there are a lot of ways to minimize this:      1.  Never be in too much hurry to rent out your property Some property owners are in a hurry to rent out their apartments or commercial spaces, so do not carry out proper investigation on the prospect...