Real Estate Information |
|
A $100,000+ Discount On Miami Condos
By this point and time, many people have heard about buying preconstruction condos and some of the amazing profits that have been generated by these investments. What many people don't understand is that there is another way to play the preconstruction investing game, especially for those investors with solid financial resources. Let's take a look at the Miami condo market as a great example. Right now, there is a Miami condo that originally sold out almost 2 years ago when the prices were much lower but original investors are now interested in reselling their units. This project was one of the first high-rise projects in the downtown Miami area. Recently, similar units at ICON Brickell (on the opposite side of the Miami river) sold out the first tower in 2 days at an average of $550 a square foot. The second tower is now selling at an average of $600 sq ft. For some of these resells in the area, we are seeing close to a $100/sqft reductions in price to around $500 per square foot; and that is asking price. Now is when the negotiations begin. One strategy is to AGRESSIVELY pursue projects where other investors are about to close. In this case, you have a number of original investors that are hearing that loud clock ticking in their head. that is the clock counting down to close where they will 1) have to close on their Miami condo, 2) have to pay debt service, and 3) potentially try to rent out their Miami condo. You have to realize that these sellers are people that have already made (on paper) great returns, then they may have a lot of motivation to just get most of their profits and run without incurring additional expenses. As an example, suppose you were able to negotiate a $130/sqft discount on such a Miami condo instead of only $100/sqft. Let's say that results in an additional $30,000 savings on a 1,000 sqft unit. From a motivated seller's perspective, what do they care if they have to drop their profit from $150,000 on a Miami condo to only $120,000. For the right kind of seller, the important thing is that if they know you, as the buyer, can make it painless for them with no additional cash outlays. For a resell type investor, they may look at this and say well, I will rent the Miami condo out for a couple of years. No, their payments will not cover their mortgage and maybe they end up losing $800 per month. That is only $19,200 over the course of two years. Compared to that $30,000 extra discount they got, that is a small price to pay for the right individual knowing that they purchased their condo at $130 *1000 sqft = $130,000 less than what people across the river are paying for new Miami condos. If you do this type of investment, you need to establish the actual numbers for yourself since these numbers are only provided as an example. We have used a Miami condo as an example here but these opportunities are going to exist in many places. As projects begin to close, especially in overbuilt areas having lots of investors that are ill prepared to close, that provides an excellent opportunity to find EXTREMELY motivated sellers. One trick to this, in my opinion, is to find those early projects in an area that are about to close since there is tons of equity that the seller can give up to the new investor if that new investor will just pay them some profit and not make them incur any additional expenses. Dr. Chris Anderson is a co-founder of http://www.GetPreconstructionDeals.com and is referenced in many venues including the New York Times and USA Today. Download his free, 30+ page preconstruction investing ebook today at http://www.GetPreconstructionDeals.com/ebook.html
MORE RESOURCES: Real estate mogul concerned how Americans will deal with squatters: ‘Something really bad is going to happen’ Fox Business Industrial property company warns of slowing real estate market Greater Baton Rouge Business Report Chicago Atlantic Real Estate Finance Schedules First Quarter 2024 Earnings Release and Conference Call Date Yahoo Finance Former HGTV star from Los Gatos sentenced in $10M real estate fraud case CBS San Francisco Ex-HGTV star and Los Gatos house flipper Charles 'Todd' Hill sentenced in real estate fraud case KGO-TV Prologis Warns of Slowing Industrial Real-Estate Market The Wall Street Journal Real estate: where is the best place to live in Boston 2024 The Boston Globe Citi Real Estate Funding Provides $207M CMBS Funding for Two Offices Commercial Observer Arizona Coyotes owner cares more about real estate than hockey The Arizona Republic Experienced Acquisitions Expert Justin Maturo Joins Mesirow Institutional Real Estate Direct Investments PR Newswire Real Estate Fresh Finds: April 17 PoPville People and Property: Real Estate and Construction News From Around NH New Hampshire Business Review 2 real estate firms join forces for medical office building acquisitions Becker's ASC Review Big Tech Is Downsizing Workspace in Another Blow to Office Real Estate The Wall Street Journal VR Home Tours: The Future of Real Estate Showings hackernoon.com Homes and land for sale Decker Real Estate Tillamook Headlight-Herald Worcester Regional Research Bureau finds 21% of city's properties taxed as commercial real estate Worcester Telegram LICP's 19th Annual Real Estate Breakfast explores urban transformation in Long Island City Queens Post New York community-scale developer Ninedot secures US$13 million real estate financing Energy-Storage.news Friedman Real Estate closes sale of 12952-square-foot industrial property in Madison Heights – REJournals REjournals.com Consumer warning: real estate fraud schemes target Dominicans Brooklyn Daily Eagle How Will Real Estate Commission Ruling Impact Bay-Region Homebuyers? Chesapeake Bay Magazine Real estate, finance jobs are driving Tampa Bay's economy, report shows - Tampa Bay Business Journal The Business Journals Flagship Communities Real Estate Investment Trust Announces Largest Acquisition in the REIT's History GlobeNewswire Real Estate Sales Down, Price per Foot Up, in March Brownwood News The Top Luxury Real Estate Leaders In Las Vegas Vegas | Modern Luxury Flat For Flip (FFF) Intends to Expand European Real Estate Market to Asian Buyers through NFTs GlobeNewswire Local real estate agents discuss how lawsuit may impact the market Daniel Island News California Housing Market Slows Down but Home Prices Soar Norada Real Estate Investments Commercial real estate deals in Marin, Sonoma, Napa counties North Bay Business Journal The Top Luxury Real Estate Leaders In Philadelphia Philadelphia Style | Modern Luxury Top residential real estate sales for April 1-5 in Longboat, Lido, St. Armands, Bird Key Your Observer Mortgage Rates Soar to Highest Level Since November Norada Real Estate Investments Hamptons Real Estate Market Data - Week of 4/9/2024 Hamptons.com A new real estate trend? Shopping malls converted into residential units in South Florida NBC 6 South Florida H-E-B buys land in Celina The Dallas Morning News Come See About This: Diana Ross Lists Dazzling Waterfront Estate in Miami for $17.8M Realtor.com News 28+/- ACRES- HOUSE REAL ESTATE AUCTION | Ads | northwestsignal.net Napoleon Northwest Signal REAL ESTATE | Eaton's Pizza remodel underway at new location on Hwy 33 in West Bend, WI washingtoncountyinsider.com Buffalo's housing shortage: 'There's just not enough of anything' - Buffalo Business First The Business Journals Bridgemarq Real Estate Services : Q4 2023 Investor Presentation Marketscreener.com Honk If You Love Congestion Pricing – Commercial Observer Commercial Observer Continental Properties buys Sixteen30 apartments in Plainfield Crain's Chicago Business Prince William County Discounts Real Estate Assessment of Digital Gateway Properties bristowbeat.com North Jersey Tudor Revival home hits market in Montclair NJ NorthJersey.com 4 REITs That Have Beaten The Latest Correction - Center (NYSE:CSR), Acadia Realty Trust (NYSE:AKR) Benzinga Mirae Asset Global Investments Co. Ltd. Increases Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) Defense World An Upper West Side Home With Wallpaper Murals and Terrazzo Everywhere The New York Times For Oklahoma City residents, building the tallest tower in the United States sows doubts New York Post Griffin Capital Company and GW Real Estate Partners Break Ground on The Arrowood Charlottesville Virginia Yield PRO magazine What to know about the real estate tycoon sentenced to death in Vietnam's largest fraud case Yahoo Finance |
RELATED ARTICLES
The Benefits of A Real Estate Agent 101 Buying and selling property is not as easy as you may think. There are many things that you have to consider when purchasing a home, or when putting a home up for sale. Do I Have To Buy Real Estate Through An Agent? Sometimes when we are very busy professionals and very rich it might be convenient to let an agent do the groundwork for us. Letting them make appointments, drive to the property, roam through house after house sizing them up until they find a few great homes that might be just perfect for us. How Professional Property Investors Interpret and Use Capital Growth Statistics Understanding and using yearly price growth statistics in an area of interest is critical to making successful property investments decisions.Property price growth is usually expressed in terms of a percentage i. Property Investment Strategy: Securing Properties with Little or No Deposit Property Investing often requires creative strategies to make it successful. Professional property investors often use the option contract as a tool to develop some useful investment strategies. Make Money With Room Rentals I don't know why I didn't do it sooner, but one day many years ago, I decided to try renting rooms in my home. I was young and single, and had a nice mobile home on small piece of property. How To Get More Money For Your House If you are thinking about selling your house, you should take a serious look at your home through objective eyes. You're probably used to all the little quirky things that need a bit of fixing up and don't look quite right, but to a prospective buyer, these things can be a real turn off. Estate Agents on the Costa Blanca Spain Properties for sale or to rent on the Costa BlancaAs a general rule of thumb, newly built properties on the Costa Blanca are generally cheaper than existing or re-sale properties - cheaper still if you buy 'off plan' (before the house has been started). Property prices have rocketed here over the last five - ten years and many fortunate people have found that their properties have grown in value enormously even before they had moved in! Even though the market is now leveling out, a property in Spain is still an extremely good investment. 3 Mistakes to Absolutely Avoid in a 1031/TIC Exchange We've all made bad decisions in the past. Don't you just hate to hear "I told you so" from your friends and family? Or, maybe you catch yourself saying "If only I'd have. Property in Northern Spain If you're looking for the 'real' Spain where the culture, customs and the traditional Spanish lifestyle have been preserved - a Spain long ago lost and forgotten along the Costa del Sol - consider Northern Spain.Northern Spain has always been a popular holiday destination for southern Spanish tourists, but until relatively recently it was largely unexplored and undiscovered by foreign tourists and those expatriates seeking a new home overseas. For Sale in Ridgefield Ridgefield Connecticut, located near the New York border, is a small, quiet town, and a great place to live. There are many types of homes that are for sale in Ridgefield, including luxury homes. The Listing Contract: Its All in the Details Now that you've chosen a real estate professional to sell your home, you'll need to work together to complete a listing agreement. This legally binding contract authorizes a broker and his or her real estate professionals to find a buyer for your home, according to the conditions specified in the contract. Fantasy Gap [fast money in real estate] I was in the rental business for seven-years, made 1.3 million dollars the first five years, got ill, and had to get out of it slowly, but had the money to do it. Sell Your California Home For Top Dollar HOW TO SELL YOUR HOME FOR TOP DOLLAR1. Make your home look like a model - even if it isn't. How To Negotiate A Higher Price For Your House Negotiation is where many FSBO home sellers really have problems. The wrong attitude or a slip of the tongue could cost you thousands. Expense List for Buying a Home There are many expenses that come with buying a home. The following list is a good example of what to expect:Down payment - A minimum of 20% of the home's purchase price is usually required for the best loan terms and to avoid paying private mortgage insurance (see below), but it's entirely possible to buy a house with a smaller down payment. Selling Property - Valuing Your Property Selling property privately has many advantages over using an estate agent. However estate agents can provide useful local information not available from the internet. Writing on the Wall - Are REITs a Better Investment for You? When I was a young child I had many annoying tendencies. My mother explained to me that the most annoying was my need to write on the walls of every room. Realty Agents: Don't Ask Don't Tell? Real estate stories radiate from the water cooler and cocktail parties like a brush fire out of control. Like early stages of fires, real estate transactions start out manageable, but occasionally real estate consumers fan the flames because of inexperience, and some real estate agents misplace the water buckets. Selling Your Home on Your Own - Examples of Problems and Solutions What can go wrong? About a gazillion things, but this is true if you're working with a broker, too. A broker is probably more experienced than you, and may well have confronted and solved your problem on a previous home sale. Rental Property Management - Ten Questions Why hire rental property management? Because doing it all yourself is the surest way to make your real estate investment experience a bitter one. You also have more time to find the next deal when there is someone taking care of the details for you. |
home | site map |
© 2006 TIGER MEDIA |