Real Estate Information |
|
How To Get The Best Rental Accommodation In The Area By Using Your Capital
My report is for you to use your power to negotiate, not only a reduced weekly cost of accommodation, but also to get the best accommodation available in the area in which you wish to live. Hello Colm Dillon here ... Market conditions will effect the final outcome. Irrespective, a good negotiation, following these guidelines, will save you money. Get to know the state of the market before you commence. Determine how much you can afford to pay and then go higher. For example if you can afford $200 per week, start looking at a figure of say $250 - $260 per week. If you fall into a higher bracket; say $400 per week, start looking at $500. Go to several real estate agencies and ask them what they have on their books at the amount you nominate. Also tell them your preferred areas. Go through the normal selection process and pick the best place in which you would be happy living. Confirm the weekly/monthly rental with the agent and the length of the lease term i.e. 6 months etc Confirm with the agent that you really like the place, although there are a few others you like as well. Don't say which ones, just give the impression that their agency is not the only 'cab on the rank.' Note: Final selection by you will be made on the basis of the landlord attitude, as you intend living in the property for a 'while.' Start The Negotiation. Ask the agent to find out how much the landlord would accept for a 12 month lease. He will probably reply by stating the same amount back to you as you would pay for a six month term. Start ramping up your approach by enquiring about a 2 year term. At this stage you should be getting the agent to phone the owner and coming back to you with a discount. You could leave the agency for a hour or so ... allows time for the agent to see that you are giving serious consideration to the other properties, as well as theirs. Don't be to automatic in your process. "Time" is a wonderful tool in negotiation. Generally talk a bit more to the agent and raise the question of what discount the owner would accept for a 3 year lease term. Again a phone call to the owner should take place. If the agent is making all the decisions without calling the owner, you should insist, as h/er does not have a big latitude in rental decision making. The owner is the agent's 'boss.' You should expect a further discount from this latest approach. The agent may start to feel as though the negotiating should be coming to an end. Don't worry, you are about to bring out the 'Big Guns.' Confirm again that you are warming more and more to the property, but there are a few other things you want to raise. Tell the Agent that you would consider pre-paying 12 month rent in advance, if the owner would come to the party on the rent. Emphasize, the lack of risk to the owner; a large one off payment in his hand now that could be used to buy more property, etc etc. Expect a reduction and Get It. Depending on how your are going in the reduced rental stakes, in approaching your target base rent price, you may have one further go and offer 18 months or two years rent payment in advance. You may hold off with this final offer by leaving the office after the last response. The agent and owner have given ground on the rent so they may be feeling a bit tender. Let them 'marinate' for a few hours; maybe even over night, then put the last proposal of the 18 to 24 month prepayment of rent. Once again, only you can judge how the negotiations are going. Most people want to 'do a deal' quickly and do not have the patience for a long term, several hours, negotiation. By adding a more and more enticing offer you are making yourself more desirable as a tenant ... you will start to surround yourself with a "Golden Glow" of desirability. When the final deal is done on rent and before you sign any Lease, you can now raise any property questions you have; i.e. carpet shampoo, condition, painting, plumbing, door locks, blinds etc etc. Take photographs on a dated film of every aspect of the property (2 copies) one for the agent, one for you. You sign the back of the photos you give the agent and they sign the back of the copies you keep and it is noted in the lease. When all these actions are taken, you will have accommodation, that you want, that is better than the original $xxx per week would get and you are secured for 3 years. Finally, from these negotiation processes, both the owner and the agent will hold you in high regard, because most people admire a good negotiator. Happy renting Note: There is a financial mathematical formula called Discounted Cash Flow (DCF) which can be described as a means of calculating the 'Present Day Value' of 'Future Cash Flows.' So what does that mean? Let's say that you have got the $250 per week rent down to $230.00 before you start offering to pay rent in advance.OK? In making the decision to pay in advance, you are giving the owner an amount of cash that they can use to make other buying investment decisions. What this means is that the money you give them can earn them an amount of money, and we'll call that 'interest' - just like the bank. This is just one concept I want you to lock away. That concept has been given to you so that you can see, or understand, my next concept of DCF. Imagine writing across a page a whole string of $230, $230, $230 etc for every week you would normally have to pay that rent; 52 times or 104 times. Now imagine discounting the 52nd $230 by an interest rate of whatever; say 5% for 52 weeks. Then the next $230 is discounted by 5% for 51 weeks and so on until you get back to zero weeks. Having done all these calculations and then add them up you arrive at a $value of all those Cash Flowed $230's for 52 weeks or for any other period. I have not done the calculation for you because individual circumstances vary so much. However it is this discounted amount of money that you offer to the property owner. Now going back to my first concept, you can see how the owner can invest the money. If they were to earn say 5% they would almost get back to the figure we started with i.e. 52 x $230.00 except of course the investment would also have gained in capital value. I hope this brief explanation helps you understand why you should expect a discount for the Pre-Payment of rent or any other purchase you make where payment over time is the deal. Last Point: If you were to leave your pre-paid rent in your bank account you would pay Tax on the interest you earned. The Discount you get off your rent is Not Taxed and so is much more valuable to you and in effect you are getting a better return on your money invested in RENT. This Article Shows You How To "SAVE MONEY & GET WEALTHY" by Renting & Using You CAPITAL.
MORE RESOURCES: Real-estate agent explains new fees to homebuyers, he's not worried Business Insider Office market collapse: Commercial foreclosures spike 117% in a year Business Insider Dr. Phil left speechless after real estate agent claims that squatting is justified by colonization New York Post Inside Chris Pratt and Katherine Schwarzenegger's Real Estate Portfolio Architectural Digest Real estate expert says several factors impact farmland prices brownfieldagnews.com LOCAL REAL ESTATE TODAY 4.19.24 – KQEN News Radio kqennewsradio.com Real-Estate Agents, Investment Advisers Chafe at New Anti-Money-Laundering Rules The Wall Street Journal The Michael Houck Real Estate Guide for April 20 and 21 Oil City News How environmental insurance diligence can shape commercial real estate transactions Insurance Business The HYM Investment Group, Cathexis and National Real Estate Advisors Announce Pre-Leasing at Amaya Boston Real Estate Times EG Real Estate: Busy Spring Market – East Greenwich News East Greenwich News Big Tech Is Downsizing Workspace in Another Blow to Office Real Estate The Wall Street Journal East Bank Master Developer Agreement with The Fallon Company Approved Boston Real Estate Times Healey-Driscoll Administration Names Alison Brizius New Coastal Zone Management Director Boston Real Estate Times Top 25 Columbus Residential Real Estate Deals for January 2024 Columbus Monthly Prologis Warns of Slowing Industrial Real-Estate Market The Wall Street Journal S.F. housing market: Still very few homes, selling even faster San Francisco Chronicle Banks Believe They Are Well-Prepared for Commercial Real Estate Fallout The Wall Street Journal How Real Estate Helped Taylor Swift Become A Billionaire Yahoo Finance An investigation into the University's controversial real estate holdings Johns Hopkins News-Letter Darien and Rowayton Real Estate Report: April 11 to 18 darienite.com SAGE Investment Real Estate Advisors sells 24-unit Bergen County garden-apartment complex ROI-NJ.com Heres What $2.5 Million Buys In Andover Real Estate Andover, MA Patch Robin Hunden of Hunden Partners honored with Jeffrey D. Fisher Real Estate Legacy Award from Indiana University's ... Daily Herald Ohio Department of Commerce Division of Real Estate and Professional Licensing offers tips – Daily Chief-Union Dailychiefunion Robert Bailey on Real Estate TPG Online Daily See the latest Coles County real estate transactions Journal Gazette / Times-Courier Oregon Senate strengthens consumer protections in real estate transactions Curry Coastal Pilot Tortured Poets or Real Estate Rock Stars? Taylor Swift's Past Boyfriends—and Their Incredible Homes Realtor.com News SVN|J. Beard Real Estate adds chief investment officer to Houston office – REJournals REjournals.com 21 Largest Real Estate Companies in the World Yahoo Finance Two Weichert real estate agents in Willmar recognized for work in 2023 West Central Tribune Real Estate Broker Commission Settlement ClassAction.org Real estate brokerage firm Marcus & Millichap arranges $12.8 million sale of Fayetteville, NC mobile home park ... Greater Fayetteville Business Journal Importance of home inspections in Indianapolis real estate WISH TV Indianapolis, IN Navigating the changing role of real estate agents WISH TV Indianapolis, IN TikTok’s Origin Story: Court Files Show Role of GOP Megadonor Jeff Yass The New York Times Downtime: Pairing wine and real estate RichmondBizSense PICTURES: See Inside Johnny Cash's Spectacular Real Estate Holdings Taste of Country Toles, Temple & Wright Welcomes David Tucker as Newest Real Estate Agent Northwest Georgia News Meet Samantha: Your A.I. Real Estate Agent of the Future The World Property Journal China home prices slumped in March as property crisis drags on Business Insider How Alexico's $180 Million Deal With St. Francis College Fell Apart The New York Times Real estate mogul concerned how Americans will deal with squatters: ‘Something really bad is going to happen’ Fox Business Housing Market Predictions for 2024 & 2025 Remain Subdued Norada Real Estate Investments Solano Real Estate Scene: Homelessness, drug addiction and Theft Reduction Act Fairfield Daily Republic Blackstone Earnings Rise as Investment Giant Projects Commercial Real Estate Recovery - CoStar Group Fannie Mae, Freddie Mac clarify real estate commission rules National Mortgage News Celina’s first Walmart to be part of bigger vision for fast-growing city - The Dallas Morning News Celina’s first Walmart to be part of bigger vision for fast-growing city The Dallas Morning News Owatonna named finalist in state real estate awards Southernminn.com Long-term exclusive property listing contracts now illegal in Arizona The Arizona Republic |
RELATED ARTICLES
Selling Your Property Without An Estate Agent It is possible to save £1,000s selling your home privately and cutting out the estate agent, but what are the issues that you need to consider?Pricing the propertyPrice your property too low and you could short-change yourself from the true market value, price your property too high and you will simply put off potential buyers.Before you put your property on the market, you need to do some market research. Location, Location, Location Location, location, location - known as the 3 most important factors when buying a property, and it is easy to see why. The location of your property dictates how much yield you get, and how much capital growth, which ultimately decides how well you do. An Overview of Easements Title insurance is generally associated with insuring a purchaser's or lender's interest in a particular piece of real estate. The right to use an easement is often considered less important than unencumbered title of the insured parcel. Bulgarian Property Market Insight GOLF GRABS BULGARIA!At the present time there are only three golf courses in the whole of Bulgaria: one at Elin Pelin, near the capital, Sofia, and two owned by Air Sofia. These are located at Ihtiman, opened in 2000, 40km from Sofia, and at Sliven, opened in 2004, 90km from the Black Sea. Preserve Equity, Build for the Future Using a 1031 Tax Exchange Thinking of trading up on an investment resort property? If so, look into 1031 Tax Exchanges (based on IRS Code Section 1031), which allow taxpayers to defer taxes on capital gains resulting from the sale of investment real estate, often a sizable sum since combined Federal and State taxes can run as high as 38 percent.With an exchange, owners are able to preserve equity, while still selling the property. Is It Wise to Take My Home Off the Market for the Holidays? Let's say you've had your home on the market for many months without a sale. The holidays are drawing near. Why You Should Rent To Live And Buy To Invest Why you should Rent a place to live in and Buy a place for Investment - Did you know that in your Bank's Accounts "Your House" is placed in "Their Asset Book." That means that the house you own and live in, is a "Liability. Back To The Future - Big Changes Are Coming, Get Ready Now The comments below are quoted from a recent speech by Ben Bernanke, a member of the Federal Reserve Board of Governors.. When is the Best Time to Move? As Realtors, we are often asked, "When is the best season to move?" This is a tough question, one we cannot answer for you. Most people are asking about price, do they fluctuate throughout the year? NO. Buy to Let Property Investment In recent years buy to let has been a popular way of investing in residential property. Stock markets are out of favour with many investors who have seen the values of their portfolios, endowment policies and pension funds shrink, whereas property has generally continued to rise in value. Property Auction & Why You Should Run A Mile From Them That's A Funny Thing To Say About Property Auctions; They're All The "RAGE, Aren't They?"From The Desk Of Colm DillonHello Colm here .. Realtors - Self Promote Your Way To Success Okay, so we all can agree - listings are the lifeblood of the real estate industry. And if the keys to selling them arelocation, location and location, then the challenge in getting them is self-promotion. Is 100% Annual Return On Investments Possible With Low Risk Land Investments? In last week's article, we discussed how substantial profits could be made by investing where baby boomers may want to relocate or buy a second home. This seemed to confuse readers since they were thinking that our web site is about preconstruction and preconstruction to them means buying condos?? In this article, I hope to broaden your horizons considerably. Buy or Sell First? When it comes to home buying, the ideal situation would be to find a new home, just as you receive an offer on your existing home. You would then be able to close concurrently and move into your new home a few days prior to closing on your previous home. Destin Florida Triples In 3 Years Do you want to see something that is absolutely amazing? Let me show you what has happened in Destin, Florida over the last 3 years. Back in August of 2002, the median price of a home selling in Destin was $229,000. Minneapolis Warehouse Loft Downtown Minneapolis is rich with true metropolitan charm. With the growth of an incredible entertainment district, a wonderful artistic community, and all the opportunities of a large urban center, downtown Minneapolis is pleasantly thriving. Rapid City Real Estate Agents Take me Back to the Black HillsLocated in Western South Dakota, Rapid City is a thriving community with many amenities to offers its residents. This city is nestled among the beautiful Black Hills, offering endless recreational activities for the outdoor enthusiast in the Black Hills National Forest. Finding Structural Problems During Escrow - Upscale Home Example When buying and selling homes, the property purchase is often subject to a satisfactory home inspection being done. Now and then, a home inspection uncovers severe structural problems. How to Become a Successful Real Estate Investor Many folks dream of becoming real estate investors, but not everyone has what it takes. If you're dreaming of becoming an investor, here are several important questions to consider, long before you buy your first investment property:1) Why would a homeowner sell a house at a bargain price?Many things happen in people's lives that make their home suddenly become a burden. Be Patient Screening Tenants Rental real estate is a solid way to make money. I'm particularly fond of residential properties, because people have to live somewhere. |
home | site map |
© 2006 TIGER MEDIA |