Gold Mine Realties

13/04/2015

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16/12/2014

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05/12/2014

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A PROJECT OF REALTYCALLS INC.

02/10/2014

15/08/2014

happy independence day
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Recently relocated from crowded old Indore and currently getting complete peace of mind. I appreaciate my vision of buying property in Shreeji Heights. I got possession on specified time frame and was astonished with the progress builder is making to get this project completed.

15/02/2014

Professional Real Estate Agents
Use professionals you trust. A seasoned investor will tell you that when you are looking to purchase an investment property, it is best to work with experienced professionals who have a proven track record of helping other first-time investors to stay on the right track. If you are uncomfortable with one of the professionals that you are working with, it is always possible to find someone else. Having a solid team behind you makes the process so much easier in the end.
Consider living in your own rental property. A good strategy to consider when you are looking to purchase an investment property is purchasing a multi-unit property and becoming an occupant. The advantages include low cost living, because the other rents coming in should cover a good portion of the mortgage payments, higher deductions at the end of the year and the ability to stay current on maintenance.
Know ahead of time how much you are willing to invest in repairs and renovations. Keep in mind that these are costs not included in your first mortgage loan. There are purchase/repair loan programs that might be available to you, depending on your lender. Also, it is important to consider whether it would be more effective for you to purchase a property that is not in need of extensive repairs.
Be prepared before you talk with a real estate agent. Realize going in that their primary goal is to get you to buy a property through them. More than likely they will try to get you a property that they have listed. Be on the lookout for agents who do not seem to have your best interest in mind. You need to work with an agent who will show you properties that meet your criteria – even if they have to pass up their own listings.
Don’t pass over properties that you may be able to resell to other investors. Sometimes it is a good idea to purchase a property that is an excellent value simply because it is a property that is attractive to other investors. Keep in mind that when you purchase a property that is not what you are looking for or one that requires extensive work, it may end up being a long term investment. However, when someone who specializes in rehabbing comes along you are likely to make a substantial commission on the sale.
Try to make a contact at each of your local utility companies. Believe it or not, the utility companies are often the first to know when a property is vacant or when it is distressed and the owner needs to sell quickly. An owner who needs to sell quickly is much more likely to negotiate a bargain deal that one who is not in a hurry to sell.
Always offer at least 10% less than the asking price on a property that you are willing to walk away from. The strategy here is that the owner may refuse your lowball offers, but if in a month or two they haven’t received any other offers that are competitive they may call you back to reconsider your offer. Be prepared to negotiate, however also be prepared to walk away should the owner be unwilling to accept your offer the first time.
Do your research. Take the time necessary to learn about property valuation in the areas where you would consider purchasing an investment property. Always do your homework and get a market analysis through your real estate agent for any property in which you are interested. There are first time investors who have generated substantial income simply based upon the fact that they know how to determine true market value. They calculate the property’s value and then see for a significant profit, because they have thoroughly researched property valuation.
Understand how properties are valued. It is important to know the ways that property values are estimated by agents and other real estate professionals. Any real estate agent can provide you with comparable properties and how much they are selling, or have sold for. Another method is to determine ahead of time the amount of money that a specific property can generate. Income valuation is commonly used, because many investors are looking to make sure that the monthly income covers all monthly expenditures, including the mortgage and tax payments. The third commonly used method is determining the replacement value of a particularly property. For example, if your property burned to the ground – how much would it cost to rebuild it exactly as it stands? One or more of these methods will probably give you the ability to accurately determine the value of your investment.
Return favors. One of the things that many new investors do not realize is that if you help out those in your network with referrals, they are more likely to help you in the future. A good example would be someone who comes to you and asks you to buy their property, with you realizing that they would be better off getting a refinance loan than selling. At that point, you could them point them to your refinance contact. In the future, that same contact might send potential properties your way in return.

10/02/2014

Real Estate Investing

Remember that there is not just one approach to real estate investing. The beauty of real estate is that you can pretty much make decisions based upon your specific situation and goals. You may decide that you want to buy a property as a long term investment, or you may determine that short term investments are better suited to you. There are endless possibilities, and you are never stuck with a single option. Some investors have a mix of short term and long term investments.

When looking for an investment property, you should be much more concerned about the location than you are about the amenities offered by the property. Realize from the beginning that you can add amenities, but unless you want to move a building – you cannot change the location.

Do extra research before you make a long-term investment. If you are considering a long-term investment property purchase, like an apartment building, you need to become very familiar with the rental market in the area where you plan to buy. Ask around to determine how long units are sitting vacant, the average lease length and the average rent payment for a unit equivalent to what you plan to purchase.

Understand what impact the economy has on your investment. When determining the area in which you are going to buy, consider the economy of the area carefully. For example, if you know that a major company will be relocating into or out of the area, it is probably a good idea to wait and see before purchasing a property there. Also, if you know that a shopping center is going to be built within walking distance, there is a good chance that your property will become quite popular.

Don’t over pay for a property. When becoming an investor, you should always remember that when investing in real estate you make money when you buy – not sell – a property. Determine in advance how much you want to make, and be cautious not to over pay for a property. A good goal is to spend no more than five times the amount of rent you plan to collect during your first year as an owner. Be sure to factor in a 25% vacancy rate, because it is likely that this will make up for the time that you spend renting out the units.

Learn the difference between a repair and an improvement on an investment property. For example, if you patch a leaking roof, the cost is completely deductible on your taxes because it is a repair. On the other hand, if you replace that same roof the costs are not totally deductible because it is considered an improvement. Knowing the difference could save you some money in the first few years that you own a property. Remember that the longer you hold a property, the more you will need to invest in repairs and improvements.

Make sure that you are working with an experienced real estate agent. One common problem that first time investors run into is that while agents tend to be very knowledgeable about the local market, they tend to be less aware of the intricacies of financing. So, always talk to your financing company before you sign a single paper regarding the purchase of a property. This will help you to avoid unexpected pitfalls.

Be on the look out for scams. Although it is not extremely common, some first time investors have purchased properties with inflated value due to falsified or inadequate record-keeping. When purchasing an investment property, you must insist on seeing the seller’s books. And, you should definitely ask the seller to verify anything that catches your attention. Otherwise, you are likely to end up paying far more than the actual value of the property at the time of purchase.

Inspect for water damage. When viewing potential investment properties, always look for any sign of dampness in the basement and around the door and window frames. If the glazing putty has mold growing on it, don’t worry because it can be cleaned or replaced. However, if you notice peeling or cracked paint there is a good chance that the property has water damage. This is not to say that you shouldn’t purchase the property, but you need to carefully investigate any property that shows signs of significant water damage.

Always insist on a complete property inspection. Often times, a buyer will not become aware of pre-existing problems with the investment property they are buying until after the inspection. It is a good idea to include a clause in your purchase agreement that allows you to back out should serious problems surface during the inspection.

07/02/2014

General Real Estate Investing Advice:

Consider flipping a house “as is”. When flipping or buy-repair-sell is your thing, you might want to consider the advantages of flipping a home as is. Believe it or not, this technique is particularly popular among investors who purchase properties when the market is favoring sellers. The advantage is that there are no out of pocket repair costs, and the property can be sold much faster. Areas where this technique would be the most beneficial to investors include neighborhoods that are currently in transition or where redevelopment has become a priority.

Explore the option of real estate wholesaling. If you have a significant amount of funds available to you, and you would like to make real estate investing a full-time position for yourself, then you might want to consider becoming a real estate wholesaler. Much like any other wholesaler, you would buy properties at low prices and resell the properties to other investors. This is by far the real estate investment strategy that will generate income with very little work on your end once you become established in the business.

Know the market you are buying in. Before you purchase an investment property, take the time to closely examine the real estate market in your area. Depending on the market, you may want to adjust your investment strategy. For example, if you are interested in flipping a home – you wouldn’t want to do it in an area where the market is slow and sellers’ are finding their homes still on the market after 12 months. On the other hand, if you are considering purchasing a multi-unit property, you wouldn’t want to make that purchase when the market was leaning toward the sellers. This would result in you paying significantly more than the value of the property. These are just a few examples of how paying attention to the market in your area can truly make a difference in the type of property that you decide to purchase and when you decide to purchase.

06/02/2014

General Real Estate Investing Advice

Budget your time wisely. If your intention is to purchase a home and restore, repair or remodel it in a short period of time before re-selling the property, you need to pay attention to the time that the work on the property is taking. The problem that many first time investors run into with house-flipping is that they did not expect the work to take so long. When delays occur, and mortgage payments are accumulating in addition to the cost of materials and labor it can definitely make for a stressful situation. Be realistic with estimates, and always have cash at the ready should you encounter an unexpected expense.

Research potential properties before purchasing them. When buying a rental property, there are several key features that you should be looking for. The first is sustainability. Is the property in solid condition and is it going to stay that way with minimal upkeep? The second is the location. Yes, location is extremely important for most rental properties. You need to ensure that your tenants can get to where they need to go and that the property is near commonly used retailers and service providers. The third is the average income of the area. This is different from physical location, because you should keep in mind that a high rent area is definitely a better location than a low rent area. And, in high rent areas location is often less of a concern than in low rent areas.

05/02/2014

Buy and sell your house successfully with 5 tips from a real estate professional.
For people looking to buy, now is a very good time, With the all-time low mortgage interest rates, it is the perfect time for first-time buyers, investors and existing homeowners who are looking to upgrade to purchase a property.
Tips for buyers

1 It's all about location
Whether you're a first-time buyer, investor or existing homeowner, you need to understand the best locations for your investment. Buying the smallest house on the best street versus the largest house on a less preferred street will reap big rewards when it comes time to sell. As an investor, a condominium that is near public transit or a university is a good move.

2 Think about a condo
There's a surplus of inventory in the condominium market, so your realtor should be able to negotiate a good deal for you when it comes to buying a condo. If you're buying as an investor, rather than a first-time homebuyer, you will want to consider leasing out your suite for the next four to five years before selling.
3 Know your credit rating
It's best not to just assume your credit rating is in order. To avoid getting any surprises before you meet with a lender, check your rating first so you have time to resolve any issues that might stand in your way of buying.

4 Know your price range and stick to it
Meet with one or more mortgage lenders to obtain a pre-approved mortgage before you start house hunting. Once you know how much you can spend you can narrow down your choices. It's safer to buy within your budget, no matter the economic situation.

5 Head out of the city
Young families are heading there to buy affordable and newer resale homes. Sometimes it pays to go further afield depending on what you're looking for. If you want more space and more property, but have a budget to stick to, a downtown location won't do. You have to widen your circle of prospective locations.