Most of us have heard someone often our parents, but probably more often a character in a TV show describing another individual as being from the wrong side of the tracks. It is one we hear, and repeat, without necessarily giving any thought to what it means. We as humans, have a tendency to do that but what does it mean?

Well, to make a long story short, it was realised some time ago that people who could afford to choose where they lived would pay for a house in a location that was peaceful, clean and sedate. Too much through traffic means a lot of pollution, and can also cause structural faults, and also an increased number of strangers something we were always taught to dread.

Poorer neighborhoods, with higher crime rates and naturally a less desirable kind of person living there, as a result, were often positioned close to public transport links such as railways and (in larger cities) airports. Anyone living in that area would be considered bad news by the richer families who intended to maintain a spotless reputation and if the son or daughter of a rich was seen to be consorting with someone from those areas, that could mean social suicide.

This kind of reputation still persists for many people. However, there are also advantages to living and buying in what might be considered a poorer, grottier neighborhood. Prices are lower, but sound investment does mean that you can still make a decent profit. After all, proximity to public transport links also has its benefits.… [Read More]

There is a common mantra among real estate professionals and investors which is simply the word location repeated three times. The thinking behind this is that, when it comes to making money in the world of real estate, the most important thing is where the property is located. The second most important thing is, also, where the property is located. This is also the third most important thing. Essentially, location is important when it comes to making a success of real estate investments.

Of course, most people already know that, so why does the business make such a big fuss about location? Its like making a big issue out of breathing, isnt it? Well, not quite, because many people do not realize just how important location is, how fine the margins are and how big the difference can be between two houses which are in plain sight of one another. Its not just about what town the house is in, its about what street, the exact position within that street, and what you can see from there.

It may be tempting when listening to a friend talking about the great deal they got on a house in a certain area, to think well, I know for a fact that there is another one up for sale there I can buy it for that price and raise a significant profit. This may not actually be the case, however. The position of a solitary tree, church tower or bend in the road can have a pronounced effect on what you can expect to pay and what you can expect to receive for any real estate so do your homework.… [Read More]

The importance of turning a maximum profit in a minimum time frame is as important in real estate as it is in just about any other sector of the business world. And of course, when you create a profit margin this makes for three immediate variables. How quickly can you do something, how much must you spend and how few mistakes can you make while doing it?

The introduction of these variable factors can make it very difficult to carry out the perfect real estate development. If you are keen to get the job done quickly, you will face the challenge of avoiding paying through the nose while trying to ensure that the job is still done correctly. Decide that price is your priority, and you will still want the work done as well as possible, but you dont want it to take forever. And if your major priority is a good job, you will have to consider how you will get that done on time and within a budget.

In trying to make sure that each of these priorities is served, you will find yourself with some judgement calls to make. On some issues you will not be able to satisfy the need to do something cheaply and quickly and well so what do you sacrifice? Sometimes the circumstances will go some way to making the decision for you. In order to make sure that you can live with the decision, you need to be firm in making it. Too much procrastination will simply narrow down your options, so be prepared to make tough choices if you want to make a success of your development.… [Read More]

For the ambitious real estate investor, one of the most interesting ventures can be the purchase of an overseas property. There are many of us who would like to one day retire overseas, and even quite a few of us who would like to move abroad while we are still some way away from retiring. If we are adaptable individuals, perhaps with one or two foreign languages in our lexicon, we can often find that the challenge of living and doing business overseas can be an enjoyable one.

Of course, for those of us used to doing business predominantly in a domestic setting, the practice of buying a house abroad can often be wildly different to the idea. Depending on where you plan to buy there may be restrictions on foreign nationals buying or owning property. You may have to pay larger taxes, and you may face different and sometimes strange rules regarding exactly what you can develop, where you can develop, and how you do it. For this reason it is essential to do your research.

Overseas real estate is a tricky way to make money, because you will need to commit a large amount of your time to being present on site. Many people try to avoid too much time spent away by appointing a project manager, but to paraphrase an old saying: Who manages the project manager?. If you want to guarantee a profit, you will have to take an interested involvement in the development, and if you are planning to lease the property to tenants you will need either to employ a trustworthy individual or move temporarily or otherwise to the country in question.… [Read More]