Delhi/NCR region has always been the most favored destination for buying, selling or renting property in India. Many people look for affordable options for a rented home in Delhi/NCR region as many MNCs have set up their business here. Besides that, close proximity to other cites and well connected medium of transport are some of the main reasons. Looking for a property is not an easy job especially if you are new to the place. All you have to do is to follow some simple steps and make your work easy.

First of all you should plan your budget and does some research work before renting a property. Either you can go to property portals and browse property online and contact the appropriate person or you can go to some broker to find the kind of property you are looking for. If online browsing is not helping you much, you can contact property agents they will find you a suitable house and in turn will charge you with some commission for their services. Once you have finalized a house, make sure that water and electricity is not a problem and its location in terms of distance is not much far from your workplace or medical stores, grocery or nearby market etc.

It depends on you whether you want fully furnished flats or unfurnished flats as both options are there. But you have to make these decisions according to your budget.

Rental values in Delhi

Delhi offers multitude of rental options to people from diversified background like professionals, students, businessmen, trader’s etc. Surging property prices have attracted many people. In Delhi, you can easily find a luxury house as well as affordable house depending upon your budget. The rental values of property vary from location to location. Property prices have witnessed a fall in Delhi/ NCR region and all over India but rental values have not been affected much. You can get 1BHK around Rs.4000- Rs.10000 in East and West Delhi but in south Delhi it can cost you from Rs.10000 to Rs.15000. In case of 2BHK it can cost you around Rs.15000 in South Delhi – Lajpat Nagar area and can cost you even more than Rs.20000 to Rs.25000 in posh colonies like Defence colony, Hauz Khas etc,whereas in north and east Delhi 2BHK can range from Rs.9000 to Rs.15000. If you want to go for some luxury houses like 3BHK, they ’ ll probably cost you much more, starting from Rs.20000 to Rs.50000 and even more depending upon the location. Rental values are more in South Delhi as compared to East and West Delhi.

Rental values in Gurgaon

Gurgaon has many luxury options like villas, condominiums, penthouses, affordable flats, independent houses etc on offer. As it has emerged as IT hub and various MNCs, BPOs, corporate houses have set up their business here, there is a huge demand for rental property here. The rental rates in Gurgaon are quite high as compared to south Delhi or other parts of Delhi. The rental value for 60 square yards 1BHK is around Rs.6000 to Rs.7000 per month. According to a property broker, rental prices in areas like Sushant Lok ,South City, and DLF is much high even in times of this slowdown. If you want to rent a 1BHK apartment, it can cost you up to Rs.12000 to Rs.16000 per month so you can rent in Gurgaon according to your budget.

Rental values in Noida

Even though there has been an escalation of rental prices in Noida, demand for rental property in Noida has not declined. The city offers a high class standard of living, comfortable lifestyle, all basic amenities and better connectivity to other regions. If you want to rent a house in Noida, the prices can vary depending upon the size like 1BHK can cost you up to Rs.5000, 2BHK up to Rs.7000 and 3BHK up to Rs.12000 or even more that also depends on location of various sectors so you can rent in Noida according to your requirements.

Rental property that has more than one family unit is considered multifamily property. From a duplex (two units), the smallest multi family property, up from there to larger rental complexes easily consisting of hundreds of apartments.

The advantage of purchasing multifamily properties, not unlike all income property, is that it provides real estate investors with the ability to support debt from the income the property produces. Understood in real estate investing circles as “using other people’s money”, this idea is crucial to buying multi family properties profitably and therefore must always be kept in mind because the success or failure of the investment depends on the income the property generates to meet debt service and other obligations required to keep the property.

Enough said. Let’s look at three elements that contribute to this principal, and discuss why they are crucial to buying multifamily units profitably.

Obtain sound financing

The key to buying any investment property is for you to establish a sound financing package. You want to obtain a loan that doesn’t place excessive burdens on the property, or yourself. Also, given that lenders evaluate multifamily real estate based on income stream and generally structure a loan based on the property’s financial strength as well as the investor’s, bear in mind the significant role the principal of using other people’s money plays in financing the investment.

When applying for a loan on a multifamily apartment, present lenders with clear and concise cash flow reports because you are more apt to obtain a favorable financing package when the property is represented fairly to the lender and the income and operating expenses are shown to be accurate.

Conduct a rental market survey

What tenants are willing to pay to occupy a unit in the apartment is the cornerstone of the investment. Therefore, it’s incumbent upon real estate investors to understand local rental market trends for vacancies and rental rates when buying multifamily realestate property. Rental market trends are easy for investors to recognize, just watch the newspaper or drive around the community noting all rental properties that have vacancies. If you see few for rent ads or signs, or surmise that rents are increasing, it probably signals a shortage of rental units, and a favorable opportunity for you. On the other hand, when lots of rental signs start appearing and rents drop, it could spell trouble for multi family real estate.

The best time to own multifamily property, naturally, is when vacancy rates decrease and tenants are standing in line to rent an apartment. Apartment property owners can be more selective about the type of tenant they rent to and establish a positive direction for the complex, perhaps even increasing rents. On the other hand, when tenants become scarce, owners might have to become less selective about tenants and perhaps lower the rents just to fill the units.

Be sure not to neglect a rental market survey whenever you purchase multifamily property. It’s always crucial to gauge the rents and vacancy rates.

Consider economic conversion

There might be money to be made in cases where the former property owners have let the property run down and rents had to be decreased to keep the units filled. If these rental properties are in a good area of town or in an area that is returning to a former higher quality, then the remodeling of a rundown apartment complex can be a profitable venture. Just make sure that you ascertain the cost for remodeling and understand what impact it will have on your income stream. Pure window dressing for the sake of appearances only, unless it has a positive influence on occupancy levels or rents, is typically avoided by prudent real estate investors. So get a qualified contractor to give you a bid on remodeling. Otherwise, what you surmised as surface issues when you were buying the multifamily units could in fact be a costly can of worms.

In other words, look for an opportunity to upgrade the building and raise rents because it can contribute to a profit, just be sure that you know exactly what you’re getting into.

The pros and cons of buying multifamily property

The most obvious advantage of buying any income property is real estate investors can grow wealthy in the long run. Holding on to investment property and simply letting other peoples money payoff the debt, even if there is no immediate cash flow, is what drives people into real estate investing. Moreover, because multifamily properties serve a basic need in that they provide shelters to those who cannot afford or who do not choose to buy real estate, the downside risk to multi family investing is limited.

The downside to owning rental property mostly concerns the management problems associated in dealing with tenants. Multi family properties can be management intensive, and often the reason why investors who purchase rental property hire the services of a professional property management company to deal with the day-to-day issues of running the property. So you can choose to minimize this disadvantage if you care to.

The bottom line is straightforward. Multifamily property provides investors the opportunity to build wealth. Nonetheless, it’s similar to investing in any other type of investment property, whether it’s land or commercial real estate or apartments, it simply requires you to do it correctly, and with a careful eye on the elements discussed here. Here’s to you and your real estate investing success.

International Property is one of the easiest way for just about anyone to achieve financial wealth. Basically, people will agree that international property investing is a great business. Just as with any business opportunities, there must be a timeframe of due diligences. One must consider both the problems and the conclusions of prosecuting a business opportunity. There are many effects on the decision of which property to buy, either nationally or internationally. Property buyers are either short term investors seeking to buy and sell their international property abruptly to make a return on a increasing property market and long term investors, who wish to use the property as a second home and/or providing extra income from short or long term letting. The most prominent thing to visualize before purchasing a property is the profits from it. The benefit is the net yearly rental income as a comparison of the many international property purchase prices. To estimate this former to a purchase, search on the web for similar international properties for rent to calculate an idea of the rental income per week you will be able to achieve. From this value you will require to subtract allowances for rental service companies and also taxation on the income. It is habitual that you can offset all costs in running the international property against rental income received.

Take a conventional approximation on the number of weeks you will hypothetically be able to rent the international property demand. Just as you should with a international property investment, look for an area that is up and coming. If an international property investment which is demanding with popular prices will be high and your potential return lower. Once you have selected the region or town you want to purchase in, try to get some inside erudition from locals. They will help you find international property of your need that suits you.

Remember, potential international property hotspots are frequently found next to existing well -liked areas. Always, consider if the essentials of the area are right. Are there enough shops and restaurants nearby? Are the resources good enough? If you are aiming rental income from holiday makers, is the airport a acceptable distance away? And will they be able to enjoy the holiday home and the nearby resources without having to hire a car or rely gratuitous on public transport?

The number one deliberation for holiday makers is often the view from the international property. That’s what people are purchasing when they select your international property to stay in. Have a walk around the area and try to isolate potential development sites for the future, so you can see if any apartment blocks could be put up destroying your view.

Next up, a consideration that you hardly ever have to think about when you find international property in Dubai: what’s it like out of season? If the area becomes a ghost town during the summer and all the shops and restaurants close, that could affect the returns on your overseas investment.

I was sitting in a local restaurant by myself for lunch this week when I overheard two gentlemen talking about foreclosure properties. Both of these men had their own opinions regarding the market and where to find the best deals. It was interesting listening to both men’s opinions and interesting enough, both of them were wrong. It is amazing how many people claim to be subject matter experts but have no formalized training or accreditation to support their hypotheses.

According to national statistics there are approximately 2,203,295 foreclosure filings and about 1,285,873 foreclosed properties on the market today. The substantial increase in foreclosures has flooded the supply of available properties which then forces home values to decrease. We all learned about supply and demand in high school economics class and many home owners are feeling the effects today.

Finding that deal may not be as easy as it may seem, you need to look beneath the dirt. Understanding the value of a home, cost of repairs and legalities of submitting an offer is critical and you need the help of a licensed Real Estate Expert to navigate you through the foreclosure maze. Get with a Realtor team that has the resources and connections to help you with every step of the purchase transaction.

Great Realtors, or as I call them the top 1%, will have a “Dream Team” that will be able to work with the client. They will have a solid mortgage broker, a reputable property appraiser, a reliable insurance agent, a mold consultant, a conscientious property inspector, an esteemed general contractor and a renowned ASP certified staging professional. Being able to go to one Realtor and obtain all the necessary professionals to complete a transaction is critical.

Having a team of these professionals will reduce your exposure of making a mistake and buying a home that is not of value or has too many substantial repairs to make it worth the investment. It is important to use a professional Realtor who is experienced, trustworthy and a true professional.

Here are some essential tips you need to know when you start your foreclosure prospecting.

Pick out a geographical area that you would be okay with living, even if this is a property you plan on using as an investment. It is easier to rent a property with outstanding schools, shopping and amenities. Understanding and qualifying the benefits of a surrounding area will ensure you are picking a good location. A Realtor can provide you with any additional information you may need to pick the area. Understand and research the average dollar per square foot for homes in the area you are looking. If you are looking at foreclosure properties that are $ 39 per square foot and the average home price is currently selling for $ 52 per square foot are you getting a great deal? The truth in the matter is that if the property you are looking at is a 3 bedroom, 2 baths, and 2 car garage property and is 1700 square feet, your deal is only $ 22,100 less than the average home price. Now add into that your repair cost then ask yourself again is this a good deal. If your repair cost in this example exceeds 50% of the difference, you are probably better off not purchasing a foreclosure and going with a turn key property. Understand the foreclosure law in your own state. You can research this easily enough on the web. You should know the difference between Foreclosure by Judicial Sale and Foreclosure by Power of Sale. You will need to pick a 1% Realtor to assist you in selecting properties. They will listen to what you are looking for and search for homes that exceed your criteria but still within your price range. They will be able to conduct a market analysis on the area to provide you with sales data of homes that sold in that area. They will also arrange for all the showings and provide you with listing flyers that give you pertinent information. And as stated earlier, a 1% Realtor will give you access to their Dream Team of real estate professionals. Once you narrow your search down, you will need to determine an offer. How much should you pay is a question that your Realtor should be able to help with. Extremely inexpensive homes that are substantially lower in price than the market average maybe the best buy depending on the repair cost. The only other advice I can give on making an offer or bid is you need to be decisive and take action. I have had several clients second guess the market and like the two men from lunch determine that the market has not hit bottom yet and that there are better deals out there only to have the right property sold from right under their noses. The great deals don’t stay on the market long so you need to be able to act fast. Most banks require proof of funds or for you to be pre-qualified before you bid or make an offer on these foreclosed properties.

The bottom line is there are great deals beneath the dirt of a foreclosure. Having a vision of what that looks like for you as the buyer is important. Understanding what you are looking for in a property a year from now is the perspective that you need to have. Many clients that buy homes spend money on remodeling, changing out carpets or cabinets, or putting in new floors. If you are going to go through and spend money on a property improving it to your taste why not get that property at a bargain-basement price. If you are interested about Real Estate Dream Teams please see my website www.fortmyers-naples-realestate.com.

Ranchi is the capital of a decade old state, Jharkhand. Jharkhand is known worldwide for housing first private Iron and Steel Company of India, Tata Steel. The most industrialized cities of the state include Jamshedpur, Bokaro and Ranchi and so, they attract a lot of migrant population from various regions. This migration has cultivated growth of real estate in Jharkhand.

Ranchi, being the capital city, is witnessing huge growth in its real estate sector with high investments pumping in. Real estate in Ranchi is soaring high with property prices growing almost five times in last five years. The investments by real estate developers and land owners are already bearing fruits with reaping of such great returns. Depending on locality, the rates of property, today, varies from Rs. 1,200- 1,700 per square foot in comparison to Rs. 400-500 per square foot five years ago. The hike in prices is proving expensive for locals but government is taking steps to ensure that they do not face the brunt of these developments.

Jharkhand State Housing Board is planning to develop various residential and commercial space establishments jointly with private builders of the area. The construction of various multi-storied apartments and commercial complexes is in pipeline across the state with Ranchi alone in possession of 19 plots. Since, government plans to develop Ranchi real estate in collaboration with private players like Parsvnath Builders, huge investments in this sector can be foreseen. The most interesting feature of the city is its natural beauty full of surging hills, little streams, calm lakes and brooks that together form a picturesque sight. It has retained its traditional touch in spite of moving towards modernity swiftly with large number of developments taking place. Beautiful waterfalls and rich tribal culture are among its other major attractions.

The tremendous growth in Ranchi has led to a boom in retail sector as well with leading retailers such as Reliance Fresh, Big Bazaar, Spencer, etc. opening up their outlets. Malls, five-star hotels and multiplexes are also under construction indicating the growth rate of hospitality sector. There is also a proposal for industrial expansion on 350 acres of land along with setting up of SEZs, educational institutions and healthcare facilities. The growth in IT industry and tourism activities has high potential for bringing in the economic boost in the city.

The vision set for Ranchi is to make it a ‘model capital city’ and 6Rs (of Redevelopment, Rejuvenation, Rehabilitation, Restoration and Preservation, Restructuring and Reforms) have been set in this line. The population of the city is expected to reach 15 lakhs by next year and the government seems to be all geared up to word towards making Ranchi ‘a symbol of progressive Jharkhand’. It has come up with a City Development Plan (CDP) that identifies land for new sub cities which would require 6400 hectares of land in order to accommodate growth till 2021. In addition to this, strengthening of management systems for urban planning, disaster mitigation, environmental management and management area also needs attention according to CDP. The government is also focusing on improving other amenities related to water supply, sewerage and sanitation, solid waste management, storm water drainage and urban transport. It is also chalking out plans for heritage conservation and tourism development, disaster management, effective urban governance, basic services to the urban poor, sustainability of investments and various other important issues.

With such commercialization of the city and improving living standards, Ranchi is gaining its position as a lucrative investment option. The positive push to both residential and commercial sectors has largely benefited the real estate of Ranchi.

Beat up the Brokers!

I can understand why there is a general disdain for mortgage brokers at present. They have left a dirty stain on the carpet in the USA and a bad smell in the littlest room in the house – but to blame them for the global financial meltdown is a bit rich. Australia is, I believe, already a very over regulated country and the financial services industry is the most regulated of all. What happened in the States could never happen here. Yes there are some cowboys out there who have no qualms about hyping up the property market so they can overextend gullible people into investment property. Yes it is risky for people to access all the equity in their homes and then invest it in other things but that is a choice for the individual. Of course some people are going to get burned if its not well managed. As in the recent Four Corners program on the ABC which focused on some people who were not the sharpest tools in the shed who made some bad decisions – but it is not worth regulating the industry even more for the minority who need protection from them selves.

Margin Games

However there is one new regulation being talked about that I do agree with. You may have heard in the news about the high-flying directors of publicly listed companies who have been wiped out by margin calls on the stock market. In many cases this has been unfair as they are a victims of a nasty game (that has been imported from the States of course). What happens is that traders or hedge funds target directors who have margined their stock (i.e. used their stock as collateral for debt). The hedge funds “short” the stock (buy puts betting the stock will fall) and then circulate rumours and negative reports (from dodgy financial journalists) that the stock is in trouble. Even big company directors can’t find the sums required to cover their stock at short notice so it is sold from under them causing the stock price to plummet. The only winners are the devious short sellers who laugh to the bank.

Woolworths

Obviously I am an advocate of the free market and think a boycott of Woolworths in Mullumbimby is not going to work. I see both sides of this debate and think there may be a solution. Anyone who has spent time in the States can see what a disaster rampant mall development has been to small towns. Also Woolworths have openly adopted the corporate strategy of Wal-Mart who are the “Attila the Hun take-no-prisoners” of retail. But they operate within the law and can set up wherever they want. The problem is that a mall complex surrounded by car park sucks business from a town centre changing its architecture and culture. I was recently in Canberra and they have new developments that include Woolworths and Coles but still maintain a streetscape with shop fronts. The supermarkets are upstairs and the car parking is out the back. This can happen on Station Street and then this development can just become and extension of the town and not competition to it. It is a middle way that can work.

East Of Everything

The program may have its faults but the series “East of Everything” on ABC on Sunday nights will be a boon to the shire – as if we needed it. To me the acting and script take a second place to the real star of this series which is the natural environment. Filmed on the back lots of the Byron Beach Resort – soon to be the Becton redevelopment site – it looks fantastic and I can imagine people over the world watching it and thinking what a great place to live. Apparently this is what happened to Barwon Heads in Victoria where “Sea Change” was filmed some years ago. It saw a huge influx of visitors and people wanting to move there after it was screened.

PROPERTY PUNTING

Even though the property market has moved out of a complete stall I don’t see a rapid rush back in just yet. As they say – cash is king in times of uncertainty and many punters will be keeping chips off the table. But also it is said that times of uncertainty are also times of opportunity. I can see that more people have been putting properties on the market so there are some good buys out there.

But a part of me is happy that the expected property run did not happen. I know that may sound strange coming from a person who can benefit from property speculating. But I am not alone in thinking that ongoing escalating property prices in this country can do be damaging to the society. It will be interesting to watch how the powers that be make the effort to help first homebuyers and a rental blow out. At present there is the scheme giving developers a $6000 per dwelling tax write off to build low cost housing. That is a good move.

They also have an idea to provide funds for first homebuyers to equal funds that are being saved for a home deposit. I think that is a bit lame but better than nothing. But watch out renters – stories are out there rents are going to increase 50% in the next 4 years. To me one easy, but unpopular way to keep house prices under control is to re introduce Capital Gains Tax on any sales over $1 Million. This is the main reason why top end property is consistently strong as owners of exclusive property can live in their home for a couple of years and pocket an extra mil or two when the move up.

INTEREST RATES

The share market may have bottomed and interest rates may have topped. Don’t rely on my opinion on these things. It is such a volatile situation, but most pundits predict just one more rise this year to put the inflation genie back in the bottle and then it may recede over time. With the look of the global economy going into recession rates may drop quite quickly as the best device a reserve bank has to stimulate an economy is to lower interest rates.

At present the standard variable rate with CBA is 9.44% (after their recent rise of .14%) but the average loan rate sits at 8.93%. But the best best rate on offer from us (Lawfund) is either 8.57% or 8.67% (depending on the bank) – this is after a discount and NOT a honeymoon rate. Most fund providers are offering some kind of discount to attract new customers and keep the old ones. If your rate is over 9% and your bank won’t give you a rate cut and your exit fees are not too onerous, I will be happy to take your call and see if we can help.

Resources:

www.byronpropertysearch.com.au

www.realestate.com.au