I think if you asked this question to anyone under 35 years of age, they would probably say… yes. With advancements of smart phones, tablets, laptops, wide screen desktops and the ability to view, retrieve and interact with information on the run, it is hard to ignore that fact that this technological phenomenon is not going away and most likely will soar into even more fantastic gadgets!!!
The question remains however, do we see value in advertising in traditional media such as newspapers, magazines, flyers and other such print media? Being a young professional myself and having the core of our business focussed online, I would hesitate to demand a significant portion of the budget toward this media. Why? Well, when so many enquiries is received from online and anecdotal evidence and speaking with buyers where they have seen the actual advertisements, this suggests spending up to $15,000 on paper advertising is a costly, perhaps wasteful exercise. Especially when listing your property online is a relatively cost effective process (but getting more expensive by the week it seems!)
But… there has been instances where the good old paper run does have its benefits. In particular demographics, lifestyle properties and the upper echelon of architecturally designed properties, I would argue there still is a place to submit to print. When you are dealing with sometimes millions of dollars, you do not want to leave any stone unturned.
A case in point was an elderly lady picks up a domain east advertisement run in the paper, and knowing her son and his wife were looking for a property in a particular area, she phones them up and tells them about it. They actually hadn’t seen the property, they then viewed it online, loved it in person and strike me down, bought the place the next week. How many emails do you receive daily? If your alerts or settings weren’t in place, it is easy to skim over the email and not take note. That’s all it took, a simple phone call from a passive buyer to initiate the process in converting a passive buyer into a red hot one. It doesn’t happen all the time, but it certainly does happen, and could mean an extra $50,000 in the auction room or a quicker than expected sale, at a great price.
So to answer the articles heading, yes we see relevance in paper advertising, but in individual circumstances and property specific demographics.
In saying that, we would love to hear your thoughts on Facebook or twitter on all the above!!!
Some useful facts and figures:
• At the end of December 2011, there were 11 million mobile handset internet subscribers in Australia, an increase of 13.6% from June 2011.
Source – Australian Bureau of Statistics
• Behind Singapore, Australia has the highest smartphone penetration in the world at 37 per cent and we’re also consuming more apps, the research revealed. Australians have on average 25 apps on their phone (eight of which are paid), versus 23 for the US and Britain.
About Elevate Property Group
The team at Elevate focus on ethics, excellent customer service and ultimately, better relationships with clients – whether they be vendors, buyers, landlords, tenants or a myriad of other people involved in a property transaction. Furthermore, Elevate don’t just list on the main portals such as domain.com.au and realestate.com.au, we utilise aspects of social media (and other portals) to increase coverage and achieve a greater reach for our clients. These include;
Facebook, Google +, LinkedIn, Twitter, Gumtree, Home Hound
Contact us today for a free appraisal, whether considering selling, investing or your require our property management services.
If you are a property owner and you are looking for a way to make some extra income, then perhaps you should consider becoming a landlord. As you explore this option and try to decide if it makes sense for you there are going to be a lot of information you will have to evaluate before you decide to take the plunge and become a landlord. In this article we hope to weigh the pros and cons of renting property so that you can make a more educated decision. One great idea is to use a landlord property management service to make the rental process extremely simple an easy to perform.
Creating a constant stream of income is one of the most obvious benefits that a person can gain from becoming a landlord. Collecting a significant chunk of change at the end of the month can really help you make ends meet. The drawback to this is that when your property is empty or the tenants are late with their payment or don’t make any payment at all. This stress can be removed completely when you use a landlord insurance rent guarantee. They will pledge to pay your steady stream of income by signing a contract with you that guarantees a certain payment every month. You will never have to worry again about renting your apartment, late rent payments or any of these potential problems many landlords face.
One of the benefits of using a landlord manager to take care of your properties is that you can increase your free time along with your residual income. Now you will be collecting a steady income stream each week so there are very few things to stop you from doing more of the things that you have always wanted to do. If you hire a good landlord property management group to run your property, many of the potential problems will be taken care of so that you can relax and concentrate on enjoying life. You won’t have to worry about property damage because the service will take care of that. Building maintenance or the safety of the tenants will all be handled by your landlord manager. All of the potential drawbacks are really taken care of for you, so that all you will have to do is relax. Becoming a landlord can be a very intimidating process the first time you consider it, but with a little bit of research you will be able to find the right landlord property management team that it will seem like a breeze. Property damage is always a concern of people, who rent properties, because your property is a huge investment, it only makes sense to protect its value. These services work with you to inspect the property with you before the contract is signed and then they periodically inspect the property again through the life of your contract. When damage is discovered they will take care of the needed repairs.
Having a bad tenant is another concern that many people becoming a landlord have to deal with. Sometimes the normal references don’t reveal the kind of characters that you can deal with. A landlord manager will put all applicants through a much more thorough background check to make sure that tenants will not become a problem. With the landlord insurance rent guarantee you will be sure to get your money on a monthly basis.
Becoming a landlord is a big decision to make but can be made easier by using a landlord manager to do all of the difficult work for you. An experienced landlord property management service will have years of experience behind them so that you can relax and enjoy life. With landlord insurance rent guaranteed you will always be sure you will be paid on time and your property will be safe.
Producing quality mortgage leads is the process of finding sales leads for your lending corporation. Lead generation is an essential part of marketing and developing campaigns that may bring in more earnings. Mortgage leads are potential customers for mortgage loans that you could find through lead generation campaigns. The more effective your lead generation is, the more clients you might acquire.
Solutions to Generate Leads
There are lots of approaches to make leads. Here is a list of several channels and strategies you could use to make quality leads.
Realtors – One good way of generating leads is through coordinating with individuals who operate in the real estate enterprise. Possible property owners generally approach these professionals first when looking for a brand new home. Real estate professionals could refer your services to their clients once they persuade them to go for a mortgage loan. You could quickly solicit testimonials from realtors and real estate agents. You could research online and identify popular agents homebuyers in your location commonly approach. You could also check out real estate organization workplaces and talk to them personally, or make contact with them by phone or email.
Mortgage Lead Generation Businesses – You could also acquire lead lists from skilled lead generation firms focusing on mortgage leads. Before purchasing lead lists, be sure you validate if the lead list is fresh, meaning the lead generation corporation didn’t market it to any other client. Finding mortgage lead generation firms is not difficult. You could see the internet and research about reputable firms.
Print Campaigns – Though this isn’t as popular as television or social networking campaigns, print media could still be efficient. You could advertise your lending business in local publications like papers and real-estate periodicals. This could be an effective way to build a good reputation among potential leads locally.
Orphan Files – These are mortgage lead files a former loan officer in your corporation might have gathered, yet failed to use before leaving the corporation. Contacting these unused leads could make new potential customers.
Realtor Open House – Numerous real estate professionals organize open houses to highlight the properties and homes they offer. These open house occasions are good spots to meet new prospects. By joining these occasions, you could develop positive relationships with agents and their clients, who may be interested in obtaining mortgage loans.
Online Lead Generation – Several mortgage businesses choose to make their personal mortgage loan leads online. Online lead generation is probably the most basic and least costly methods to make leads. You could give a free newsletter or product in exchange for potential leads’ e-mail addresses, which you could use to make contact with them directly with your business plans. You can also market your enterprise or services through social networks, article directories, and message boards. You might also create online advertising campaigns if your finances could handle it. This allows you to advertise to users through search engines or other related websites.
Erwin Alajar is a loan lender who knows the benefits of effective lead generation.
There are people who earn a considerable profit from subdividing real estate property. Subdividing and developing land seems so difficult to carry out on your own, yet it can be simplified by performing the following tips:
Acquire The Property
Basically, you cannot subdivide and sell a parcel of land if you don’t rightfully own a certain property. Perhaps, you already own the parcel of land or maybe you have stumbled on the property you fancy to buy. Before you subdivide the land, you have to acquire the land free and clear.
Research The Zoning Ordinances In Your Locality
Explore and learn more about the county records to know all the zoning ordinances in your locality and get familiarized with city utilities. Work with a title and abstract company to conduct an intensive title search of the property, in case you do not yet own the property. This will provide you information regarding the current status of the property. Moreover, you will be able to discern if there are liens filed against the land. Working with a title and abstract company allows you to verify first the title before you buy the real estate.
Survey The Land
Survey the perimeters and boundaries of your property. A preliminary survey is performed as a fundamental step of your buying process, which will be conducted by a certified land surveyor. In this phase, the surveyor looks into their findings, dimensions and measurements next to the county records to find a blue line survey that will provide an officially authorized description of your property. In case you already acquired the property, you need to you need to survey only the portion of the land you want to subdivide from the rest of the property you own.
Identify The Division
Decide on how you want your land or a portion of your property to be subdivided. If you want to split the whole piece of real estate into single lots, you have to work with a land survey specialist all over again. To make the measurements, have a look at the individual lot sizes. You need to identify where the streets would be situated and how much space you want to divide each plot. Furthermore, provide an area for right of way, utility easements, drainage areas or park areas.
Plat The Property
Once you and your surveyor subdivided the property, you have to plat the property once you have finished the development plan of your property displaying all the subdivided parcel of land. Then, file the plat in the county tax office. This process is also a way of informing the tax office that the land is being developed and will be altered from being taxed as acreage to individual plots assessments in the upcoming years.
Sell The Subdivided Property
Once you finished the previous steps, you can now begin vending parts of your real estate. A title company can help you out with the legal paperwork and real estate agent can assist you in marketing the property.
Kath Shane is one of the most hardworking civil contractors of Sun Civil Constructions. He is devoted to provide clients the highest standard of construction services. To learn more about your construction needs visit Sun Civil Constructions.
Let us talk about earning income first.
A property vacant for more than 2% per annum (approximately one week) could be because your asking rent prices the property out of the market. Say your asking weekly rent is $500 – $50 more than what the previous tenant was paying and let us say the market for your type of property is a weekly rent of $480. By marketing it at this aggressive level, you could suffer a vacancy period of 16 weeks ($480/($480-$450)) until you finally rent it out. The lost income can never be recuperated. It is not a smart move if you ask me.
You should listen to your property manager, after all they are “in” the market every day of the week. A professional manager would not exaggerate the potential rental income for the sake of pleasing you. They miss out on income for every week of vacancy. Therefore, it is in their interest as much as yours to rent the property out as quickly as possible. If still in doubt, spend couple of hours one week and inspect comparable rental properties within 500 meter or so radius from your property. In other words, do your own research. By the way, do not rely on the internet ads for your research. You need to compare apples to apples and this can only be achieved through physical inspections of comparable properties.
The secondary reason for longer vacancy period is the presentation of the property, in other words poor condition. Ask yourself this question: Would I want to live in this property at the asking rent? The property will appeal to prospective tenants commensurate with its condition. It is as simple as that. So regular low key maintenance should not be considered an expense to avoid (though it is a tax deductible expense) but rather an investment that will enhance your returns.
Minimising your operating expenses should be based on the maintenance not having to be expensive as opposed to being regular. It is no different from servicing your motor vehicle at specified mileage intervals to avoid breaking down during an important trip. In the case of your property, use the one week vacancy between tenancies to steam clean the carpet, steam brush the tiles, clean the walls with water or other designated material though it is recommended to consider re-painting the walls every 4-5 years, depending on the environment in the property. Revitalising the kitchen and bathroom every 10 years or so is something else you should consider to make your property keep up with the market.
Basic stuff really.
This of course is in addition to “required” maintenance. For example, ignoring one screw in the door hinge coming loose could cause the hinge to break off the door frame damaging the door, the frame and possibly the wall and all of a sudden you are up for some expensive repair work. Not to mention your liability to your tenant if the door fell on them causing injury. Ouch! That will hurt the tenant and your pocket!
Here are some pointers that contribute to your making money constantly:
- Asking for exaggerated rent rather than a quality tenant.
- A quality tenant contributes immensely to minimising your expenses.
- A market related asking rent widens the net of quality tenants.
- A quality long term tenant is better than a high paying tenant every 6 months (vacancy, advertising and leasing expense, make-good repairs cost).
Fred Haggar is founder of Property Search 4U, a Sydney based real estate buyers agency that has been recognised with the Australian Achiever Award – real estate category for the last 6 years. It is an active member of the Real Estate Buyers Agents Association of Australia, Real Estate Institute of NSW, The International Real Estate Federation and Business Enterprise Centre.
You may contact us at http://www.propertysearch4u.com.au
Just like in the stock market where investors and traders buy and sell stocks for profit, real estate flippers acquire properties in the hopes of quickly selling them at a much higher price after doing minimal upgrades and repairs. The flipper’s main objective is to buy the property at the lowest possible price, normally below the property’s current market value, and quickly dispose by looking for motivated buyers.
There are three types of real estate flippers, the classification of which depends on the amount of involvement of the flipper. Generally flippers can be categorized into a scout, a dealer, and a retailer.
Usually, before you become a full-fledged flipper, you would have to go through the “scouting” stage first. The scout is an information gatherer – someone who collects vital information about a certain property and provides it to potential investors for a fee. The fee varies depending on the value of the property.
Just like the scout, the dealer also streamlines the real estate market to extract information about properties. As a dealer you’ll usually sign an “option to purchase” contract with the seller which gives you additional control of the property. The dealer may then opt to sell the contract to other potential investors for a much higher price than what the scout makes.
The retailer basically embodies the true essence of a flipper. If you’re a retailer, you normally buy information from scouts or purchase contracts from dealers. From there, you can do minor changes to the property then sell for a quick profit. Among the three, it is in here where you can pocket the highest amount however, it may take months before you realize these profits.
One key technique that can significantly increase the turnover rate of your properties is to find motivated buyers and sellers. And who exactly are these motivated buyers and sellers? People and families who have just relocated from another city and are looking for a place to settle as quickly as possible are considered as motivated buyers. Newly-married couples who are eager to start building their own families also fall under the motivated buyer category.
On the other end of the spectrum, those who are in the brink of foreclosures would not want to put all their previous amortizations to waste so they immediately put their properties for sale in the hopes of recovering at least a portion of the capital they used to acquire the property. This is one example of a motivated seller. Those who are migrating to other cities or countries for good would also qualify as motivated sellers since they would want to quickly dispose their properties before they move.
Finding these people and connecting them together is a good strategy that can put money in your pocket as quickly as possible. Just always remember to continuously expand your network and step out of your comfort zone to increase your chances of meeting these motivated buyers and sellers.
For more tips and information on real estate investing, visit http://smartrealestateinvestment.blogspot.com/
Managing the properties in your rental portfolio can be an enjoyable, hassle free experience, if done proficiently. Staying on top of repairs and keeping properties occupied with good tenants who pay their rent on time, is the basis on which real estate wealth is built.
For the inexperienced investor, who is challenged with keeping their properties occupied and controlling running costs, managing their assets can be a difficult and testing experience. But this need not be the norm.
Eliminate the following six costly property management mistakes when managing your properties and make administrating them, a hassle free experience.
1. Buying “bargain homes” with big problems
That great bargain bought at auction appeared to look like a bargain because of the hidden problems you were probably not aware of; leaky roof, structural damage, poorly decorated and a host of other issues you could well do without, if you want to do nothing else than simply collect the monthly rent cheque.
2. Accepting less rent and damage deposit
It’s best to enter into the rental agreement on binding terms, where you as the owner set and agree terms and conditions of the tenancy. Accepting less rent that does not cover your mortgage payment and settling for a lower damage deposit puts your tenant in control of the lease. Definite problems ahead!
3. Financing negative cash flow.
Depending on the location and condition of your property, the market rate you’re able to demand for rent maybe lower than your mortgage payment.
In cases like these, it would be better not to add these properties to your real estate holdings. Having to subsidize a property that’s in negative cash flow in the hope rents will recover to meet targets will have an impact on the overall profitability of your business.
4. Tenants in control of rental terms
Just as you as an investor always look to add quality assets to your real estate holdings through favourable negotiations, tenants will also look to negotiate favorable rental agreements which put them in control.
As the owner of a valuable asset, you must also be in control of all rental terms.
5. Renting to tenants with no credit history.
Every potential tenant should be thoroughly vetted, regardless of how strong their application looks on first inspection.
And, any applicant who does not have an established credit history is most probably not worth the effort of managing if the lease goes badly once they enter into the tenancy.
6. Exchanging rent for services
With a downturn in the economy, trying to keep a cap on maintenance costs and having all your rentals occupied, an exchange of rent for services may at first appear to be an ideal arrangement.
A tenant who maybe out of work and is quite capable at maintaining the repairs on your properties could be advantageous in keeping maintenance costs down.
But, as a lasting property management way of operating, it may prove to be not a sensible approach to hassle free property management.
For the new and even the experienced property investor, these costly property management mistakes must be avoided to limit any negative impact on your real estate holdings. Get the full list of costly property management mistakes from the rental experts at Riches with Rentals