Tips for Buying a Condo

When buying a condo, the price is the first issue it can be sometimes as expensive as some luxury homes Las Vegas. Aside from that, there are other important factors that need to be looked at seriously. Here are some tips to consider before purchasing a condo unit. 

  1. Location, location, location

The location can spell either a boom or a doom of your investment.  If the condo building is located in an area that is far from the commercial or business districts, its value can depreciate over time. On the other hand, if the condo is easily accessible and near other important establishments, its value can appreciate in no time. 

  1. Check the reputation of the developer

It is very frustrating to invest in a condo unit on pre-selling stage only to find out that the developer abandoned its responsibility of completing it. If the condo is ready for occupancy, you still need to check the track record of the developer. Look at their other projects to determine whether the developer is a trusted company. 

  1. Parking

If you think that a few square meters for your condo unit is already expensive, wait until you find out how much a parking lot costs. In Manhattan area, an in-building garage costs about $136,000 on average. This figure can go up in luxury condo buildings. The rule whether to get a parking space or not is if you need it and you can afford one, get it. Parking space can appreciate in value same as the condo unit. If you will no longer need it, you can have it leased which means it can also be a source of income.  

If the parking cost too much and you will not use it every time, renting a parking area can be a better idea. 

  1. Amenities

The price of the condo unit also depends on the amenities that you can use. A typical condo building has a swimming pool, children’s playground, a gym, and a clubhouse. Determine whether the amenities help justify the price that you are going to pay for the condo unit. 

  1. Association Dues

Aside from your personal utility bills, many condo managements usually ask association dues from their tenants. This monthly contribution is being shared by all tenants of the building to cover the payment for electricity and water in common areas such as the lobby and the pool. It is also being used for a salary of maintenance and cleaning workforce. Determine how much you need to set aside for your association dues.  



Types Of Real Estate Investor Websites- Part 2

So what types of websites for real estate investing are there on the market? First of all, when shopping for a real estate investor website, it is important to choose a website that is flexible enough to be adapted to suit your individual needs. Changes like that should not cost you any money. In other words, the website you choose must be able to accommodate your changing business needs and models. So you will not have to buy another website if your business model changes in future.

Interactive real estate investor websites

These websites are fully adaptable and offer complete customization and adaptability capabilities. Changing a business model can be done with one click of the mouse. If none of the default business models suits your needs, you can then adapt it to suit your individual needs.

The following business models are allowed by interactive investor websites

1) Websites for buying houses

These websites come equipped with everything you need to buy houses. You are presented to motivated sellers as the most credible person to buy their houses.As a result, you get leads that are fully pre-negotiated and pre-screened for you. You will only need a few minutes to decide if this is a deal or not, and follow up or let it go as needed. You can then make offers right from the virtual back office and control the closing process from your back office.

2) Websites for selling houses

This website comes completely equipped with all the features you need to sell your houses quickly. You simply list your houses from the virtual back office and manage the whole process from there.It also allows potential buyers to join your buyers list as they view your properties. One of the most valuable assets when selling houses is a buyers list. A simple email to your buyers list can get you a buyer the same day.Of course, they also come integrated with social media so that people can recommend your properties to their friends through Facebook, Google+, Twitter, etc. These websites are also adaptable for renting houses, lease to own, and so on.

3) Websites for wholesaling houses

This website is equipped for the real estate investor that wholesales houses.

Social media and buyers lists also come integrated on these websites.

4) Websites for seeking private money

You can choose this business model with a single click from the virtual back office. This automatically changes to a website for attracting private money investors.

5) Websites for buying notes

You can also convert your website for buying notes. It comes fully equipped with this capability.

6) Websites for investing in apartments

You can quickly adapt your website for investing in apartments with just a few clicks