Category Archives

Archive of posts published in the category: apartment
Sep
25

You Can Negotiate With the Bank For a "Better Cash For Keys Deal" After Foreclosure

As a last resort before beginning eviction proceedings, banks will often offer homeowners or leftover renters a cash for keys deal. Most of the time, though, these offers will be in the best interests of the bank, but will not help out the people living in the property very much.

Many banks will hire a real estate or property management agency to make the cash for keys offer. For example, t may be as little as $500 and two weeks to move out and turn over the home. Honestly, though, this is very little to a family who has just undergone a financial hardship.

Banks make these offers to persuade owners or tenants to leave a house without causing any damage. They reason that it costs less to pay people to move than to go through eviction proceedings in court and end up with a possibly severely damaged property.

So what is a homeowner or tenant to do if the cash for keys offer is ridiculously low? They should call the agency back and ask for more money and more time. Cash for keys deals are 100% negotiable, up to a certain reasonable point. Those who have been offered such a deal should keep in mind a few things about the situation.

First, if they destroy the property on their way out, because they are frustrated about the eviction, it will cost the bank a lot more to fix up the damage. Keeping previous owners and renters happy and the property in good condition is worth a bit of money to a mortgage company who has to sell that house later on the open market.

Second, if $500 isn’t enough for a family, they need to determine how much really will help them. $750? $1,000? In any case, they probably should not expect to get much more than $2,000, if that. But $1,000 might pay for most moving expenses and help with a deposit on a new apartment. If they need more money, the people living in the property after foreclosure should ask for it and explain the situation to the agency.

Third, homeowners can probably get 21-30 days to move out, if they ask for it. Two weeks is a small amount of time, and probably not enough to get everything out and keep the property in great condition (hint, hint). But if the borrowers or tenants need more time than was originally offered, they can certainly ask for it and can probably get it easily.

Anyone who has been extended an offer should keep in mind that a cash for keys deal is negotiable with the agency that offered the money and the lender that owns the property now that it has been foreclosed. All of this is allowed (including extremely low offers), but negotiating for a better deal is also allowed.

The tenants should come up with what they want and need to move out peacefully, keeping the house in good condition. Then they can try and …

Sep
24

Thessaloniki Student Housing

A brief Thessaloniki student housing guide

Based on the Greek Ministry of Education, there are approximately 330.000 students at Greek public universities at any one time. Thessaloniki accounts for nearly 1/3 of the total number of students in Greece with an estimated 100.000 students (including those attending private colleges and other higher education establishments).

For a city of 800.000 people (city population 2011) this means a particularly high proportion of students, which is evident from the lively atmosphere and nightlife. The majority of the students are coming from other Greek cities, from Europe via exchange programs and from the Balkan countries in order to study at high quality private colleges. Estimating that on average a full-time student spends about 4 years in Thessaloniki (excluding exchange students), this means that there are approximately 25.000 new students in the city every year. And they all need a place to stay…

This article will provide a brief guide to the types of available student housing, the areas, prices, and things to be aware of regarding student accommodation in Thessaloniki.

1. Types of student accommodation

1a. University public dorms.

The University of Thessaloniki offers dorms to students, based on need and mainly on financial criteria. They are provided free of charge. In practice this means that it is pretty difficult to get a dorm room even if you are eligible to get one. The dorms are mostly located close to the university campus, but their quality is very low and maintenance is a big issue, along with issues about safety etc.

1b. University Student Hostels.

These are private properties (entire buildings) which are subleased by the University and are provided mainly to exchange students requiring accommodation for a few weeks or months. These are usually ERASMUS students. As of 2011 there are two student hostels, “Matsi Street 7” and “Kassandrou Street 134”, both very close to the university. They offer fully furnished “dorm-style” rooms with ensuite private bathroom and kitchenette (Kassandrou 134) single and double rooms, a laundry area and wireless internet access.

1c. Private hostels.

For students wishing to stay only a few days/weeks, these hostels are more appropriate and a better solution than a hotel. However, these are hard to find as private hostels that rent rooms/beds by the day/week are not legal in Greece unless they are Non-Profit Organizations.

1d. Private rental flats.

These are standalone flats (studio, 1 or 2 bedrooms) located all over the city that students can rent from private owners. You can usually find them through real estate agents (beware) or online ads. You will need to find the appropriate one to suit your needs. Most of them are unfurnished or partly furnished and are more suited to students who plan to stay in Thessaloniki for a few years (as you’d have to buy electrical appliances, fridge, cooker, etc).

When you move in you will need to enter into a contract with the electricity company DEI, the water and sewage company EYATH and the gas company for …

Sep
22

Shutters: Their Aesthetic Value and How to Choose the Best for Your Home

An important aspect of home remodeling is the addition of shutters; however, due to the extensive scale of varieties in the market, homeowners have difficulties settling on what they want. Traditionally, shutters were valued more for their practical function of keeping out dust and the elements, than for aesthetics. But in the contemporary housing scene, they have become an essential aspect of enhancing the beauty and elegance of homesteads.

Practical and Aesthetic Qualities

Whatever biases you might be nursing about shutters and Your Domain Name; it is now common knowledge that they are creative accessories for decorating homes. In either modern or traditional home décor, they look great. And most importantly, if your shutter selection is right, they will provide a lifetime’s adornment for your house. It is therefore not surprising that, whereas these items have traditionally been viewed as a practical means of preventing debris from invading the interior of homes, presently, interior decorators and homeowners select shutters depending on their attraction and aesthetic qualities.

However, their decorative nature does not out rule the practical functions they have of providing insulation to your home against cold or heat as dictated by the prevailing weather conditions.  Through different design features, the shutters can direct air flow to different areas or concentrate the flow to just specific places in the house. They also block and regulate the amount of light entering your home, apart from giving you absolute privacy from prying eyes on the street.

The Choices and Varieties at Your Disposal

Isn’t it clear to you now that shutters are merely not important addition to your house just because of their functional uses, but they can also introduce new elements of adornment to the look your home already has?  The availability of the shutters in many styles, sizes and shapes makes the work of choosing what best suits your tastes and needs all too simple, don’t you think so? Before making the actual purchase, take time to familiarize yourself with the range of choices available in the market.

 Although they are made of different materials like plastic/vinyl, metal, and aluminum, the most attractive shutters are made from hardwood. Such shutters are not only beautiful, but they are also stable and durable. Different styles made from cedar woods, poplars, alder woods and elm are in high demand due to their high wood density and the appealing finishes they give.

Any type of shutter you desire are either ready-made or they can be custom-made for you in standard sizes, floor-to-ceiling sizes or depending on where you wish to place them. The price you pay for any type of design or style is often compensated for by the high quality of craft.  If you cannot afford the cost of hardwood (most of these shutters are quite pricey) you can settle down for either American polyvinyl or Fauxwood and basswood. So if you are upgrading your home, and you need shutters for practical purposes or for beauty and adornment, you can get them …

Sep
17

Apartment Building Investing – Find Motivated Sellers

As the creator of the “Buy Your First Apartment Building E-Course” I have many potential students and beginning investors ask me, “How do I find motivated apartment building sellers?”

There are many ways that investors use to find motivated sellers, however, what I see happening many times with beginners is that they start looking for properties to purchase before they thoroughly understand how to identify a truly profitable opportunity. Here are my recommendations for how to begin learning about multifamily investing and then how to find motivated sellers.

Begin by learning what makes mult-family property profitable by taking these steps:

  1. Study and learn about what makes an apartment building profitable.
  2. Read as many books about real estate investment and apartment building investment as possible. It is a lot easier to learn from other people’s mistakes. There is no need to reinvent to the wheel.
  3. Find a reputable real estate investment club in your geographic area and meet with the commercial investor members. These “old hands” are a valuable source of market information.

After the aspiring multi-family property buyer has received a thorough education by reading books, industry magazines and networking with other commercial real estate investors then he or she is ready to begin the process of searching for an actual property to purchase.

Contacting Commercial Realtors

A great reference source for finding well educated commercial real estate agents is the CCIM website. The CCIM is a professional designation that qualifies a commercial real estate professional as capable and knowledgeable in the field. You can also find commercial real estate agents using a simple search on the web.

When searching for a commercial real estate agent take these steps:

  1. Speak to a number of commercial realtors in the area and ask about “pocket listings”. Pockets listings are apartment building owners that the experienced realtor might know who are serious about selling their building but they have not listed the property yet.
  2. Find a commercial realtor who specializes in multi-family investments. A good commercial realtor who specializes in multifamily properties should have a great knowledge of what apartment buildings have sold for recently.

Alternative Strategies for Finding Apartment Building Deals:

  1. Place an ad on Craigslist stating what you are looking for:
  2. “Looking To Sell Your Apartment Building? I am a commercial real estate investor interested in buying multi-family property in Philadelphia between 5 and 100 units. I am looking for owner financing over five years with 5% down or will buy with a 20% down payment and a bank loan.”

    Or, here is an ad that I copied directly from Craigslist this morning:

    I BUY MULTI-FAMILY PROPERTIES W/SELLER FINANCING OR QUICK CASH. Need to sell?
    Moving? tax benefits run out? call me for a offer.

  3. You can also place the same ad in the commercial real estate section of your local newspaper but be prepared to pay a handsome sum for the ad and also be ready for unsolicited calls for real estate agents. Newspaper ads do work but you are
Sep
10

100 Rental Market Tips

Sometimes we need ideas to get started with items in life. This list is meant to provide 101 "ideas" and stuff to check out to get the creative juices rolling. Most are pure real estate points to think about. A few are simple ideas that I believe help get things moving in life. So here we go:

  1. Loopnet is the largest online brokerage in the United States. You can find 100s or even thousands of deals there.
  2. Over 50% of leases originate online. To really capitalize, you need a rental website.
  3. 50% of new households formed over the next decade will be rentals based on current US Census Bureau data.
  4. Focus landscaping and grounds efforts on the entrance to improve rental prospect traffic.
  5. If you have onsite staff, locate them away from the best areas and in the areas that tend the struggle more, the area will improve immediately with only modest costs.
  6. Rental insurance is a great way to gain incremental income.
  7. Large pet policies can increase rental traffic and income if managed correctly.
  8. Pay attention to the condition, visibility and readability of your outdoor property signs. 40% of business traffic begins with a good sign.
  9. The state Department of Transportation can normally provide traffic data on major streets. Knowing the traffic tells a great deal about how the property will perform.
  10. Have a common dress code for property staff to improve new resident impressions.
  11. Your leasing manager should be from a similar social demographic group with your target rental traffic. If not, leasing will be damaged.
  12. Follow up all electronic contact within one hour to dramatically improve your prospect close rates.
  13. 20% of prospects look for apartments and rental homes over the weekend. Do you have a plan to meet this shopping pattern?
  14. Online prospects fail to continue to be interested in your property over 80% of the time after the first hour. Do you have a plan to ensure a positive response before the second hour?
  15. 36% of new heads of households for the next decade will be Hispanic. Do you offer Spanish speaking access and documents? Your occupation could depend on this.
  16. Immigrant households will account for 82% of US population growth for the next 40 years. These buildings will have a disproportionate number of children. Marketing focused on this fact will have an advantage.
  17. Urban rentals are favored by 77% of Gen Y (approximately 75,000,000 emerging renters).
  18. Baby boomers are entering a prime renting period based on age. Do you have a senior renting strategy?
  19. Offer an energy saver gift basket to new renters moving in. Including energy saving light bulbs, weatherstripping, and other items that they can use immediately to cut utility bills.
  20. Craigslist is statistically the source of over 14% of new leases.
  21. Post Craigslist ads late in the day improves their effectiveness.
  22. Posting Craigslist ads on Saturday night is the most effective posting time of the week.
  23. Most rentals occur on Monday and the volume trails down over the course of the
Aug
30

Real Estate Trends: Luxury Apartments in Bangalore

In recent years, Bangalore, also called the silicon valley of India, has grown rapidly. The city’s lifestyle, demographics and job opportunities have attracted people from all over India. With this, the need for luxury apartments in good locations has also surged. Customers are not only viewing these homes as an asset, but also as a change that offers an enriched lifestyle.

Spurt in luxurious apartments in Bangalore

In the last few years, Bangalore’s real estate market has seen a surge in luxurious houses. These houses are primarily targeted towards high net worth individuals and therefore, real estate developers are focusing on high-end villas and row houses equipped with all the modern amenities.

Profitability is the main reason for developers to join the premium houses bandwagon. Prices of these homes range between Rs. 2 to 12 crores. The homes are not only large in terms of square feet area, but also have added benefits such as Wi-Fi, swimming pool, jogging track, badminton courts, sensor locks, etc.

Thanks to technological advances, developers are able to build customized villas having amenities of international standards. Bangalore’s real estate developers have reinvented their offerings from time to time, which have further fuelled the demand for high-end residential homes.

Region wise growth of premium apartments

North/North West

A series of premium apartment projects ranging between Rs. 2 to 4 crores have been undertaken in the sub-markets of places like Hebbal. Developers have chosen the place because of its prime location, good connectivity and ongoing infrastructure development. Numerous luxury houses have come up in the area between Hebbal and Yelahanka. North Bangalore has all the potential to develop as the hub of premium residential homes.

South

In the south, Bannerghatta Road has seen a surge in premium villas and houses priced between Rs 1.5 to 4 crores. Localities like J P Nagar and Banashankari too have seen a surge in high-end residential villas.

East

Premium villas have come up in the east in places like Budigere Cross, Krishnarajapuram and Whitefield Road. The price ranges between Rs 2 to 4 crores. Proximity to the city’s airport and extensive bus connectivity has added tremendous value to these areas.

West

Several high-end residential projects have been launched in places like Yeshwantpur and Dr Rajkumar Road. Because of presence of several retail chains and hotels, demand for villas from these places have shot up dramatically.

As of now, there are many luxury home units in the city at various stages of planning and construction. Value of luxury homes in Bangalore is much higher as compared to other metros in India. The conducive real estate scenario in the city will further propel the demand of high quality housing in coming days.

Aug
28

Bad Credit Score? You Can Still Get Albuquerque Apartments for Rent

Renters with bad credit score looking for Albuquerque apartments need not necessarily panic. Small apartments do not generally ask for a credit report. Even with other apartments, by proving your ability to pay rent on time, you could end up finding a good apartment for rent in Albuquerque.

Albuquerque being the largest city in New Mexico, the population of this city has only been increasing by the day. If you are one of those new residents in Albuquerque, finding Albuquerque apartments for rent may seem like an arduous task. But by knowing where to hunt for Albuquerque New Mexico apartments, you can find the right rental home of your choice.

There are numerous ways by which Albuquerque apartments may be sought, the most common being looking through ads on top news papers like Albuquerque Express, Albuquerque Journal, etc and looking on Albuquerque page on craigslist.com. Most people would even resort to taking the help of a local broker or agent, in which case it is important to check the background of the broker and ensure that there is no history of complaint against him. During your hunt for apartments in Albuquerque, you would come across a number of prospective landlords who has the right to check your credentials which includes a check on your background and a credit check. If the landlord during such investigation finds out that you have a bad credit history he may reject your proposal.

Having a bad credit score shouldn’t prevent you from searching for rental homes in Albuquerque. It definitely does pay to have a good credit score. But if you don’t’ have one, there is nothing really to worry. There is no strict requirement for a minimum credit score but when you have one, it gives the potential landlord the confidence that the rent will be paid month on month without any default. Smaller apartments and single family Albuquerque apartments do not usually ask for a credit history. You should try place like North East Heights, South West Valley and Mesa, some part of downtown to get cheap rental deals.

In situations when a copy of the credit history is called for, you could submit a letter explaining the reasons for bad credit history. You could also convince the landlord of your ability to pay rent on time. Most landlords of Albuquerque apartments for rent around the above mentioned areas and sometimes in Paradise Hills would be satisfied with your explanation but may also ask for a recommendation letter from your previous landlord. By submitting the letter you are indirectly proving your creditworthiness.

But there is something that you could do to rectify your bad credit history. You can get your credit status evaluated from the three major credit bureaus. The report of each of them normally reveals the discrepancies if any in the reports. So, do not unnecessarily worry if you have a low credit score. You will still be able to find Albuquerque New Mexico apartments for rent.

Aug
26

What Do Apartments in Dallas Check For When They Run Your Application?

Apartments in each state and, even in each city within the same state, have their own different qualification procedures when reviewing the application of a potential new renter. Take the state of Texas as an example. The largest metropolitan areas in this state with the highest concentration of apartment communities are Dallas, San Antonio and Houston. There are thousands of various apartment complexes in each of these cities. You would think they would have the same requirements for approval when running an Application for a new renter since they are all located within the same state of Texas. However, Dallas has very unique requirements that are different from Houston and San Antonio as well as different from other cities and other states.

Apartments in the illustrious city of Dallas check four (4) major areas in order to approve your Application: criminal background, income/job, rental history, and credit. It is the combination of these specific 4 areas that make Dallas requirements unique as a city, as well as how lenient or strict they are within each of the 4 areas.

For instance, In Houston, located only 239 miles away from Dallas, there are some apartments that consider your debt and your debt to income ratios as well as Social Security fraud history, when checking your Application. These are items that are never checked by Dallas apartments when they run your Application. Also, Dallas is more lenient than Houston when doing a criminal background check when it comes to fraud and financial crimes. Several apartments in Dallas will still work with you if you have a misdemeanor or felony in those categories, whereas in Houston these two areas are almost always causes for denial of your application.

As another example of how unique Dallas qualification requirements are, consider how Dallas differs from another major city, San Antonio. In the city of Dallas, apartments do not check how long you have worked at a particular job. The length of your employment history is not a consideration. As long as you HAVE employment and income that can be verified, most apartments will approve your application. In fact, you can have a brand new job, or even be transferring here to Dallas from another location, and all you need is a “Hire Letter” from the new employee showing your start date and your rate of pay. This is different from San Antonio. Most apartments in San Antonio want to see at least 6 months of employment history.

So, as you can see, Dallas has unique requirements that they check for when running an apartment application. Here are the specific requirements that Dallas apartments look for in more detail:

1. The first area that the best Apartments in Dallas check is your income qualifications. They almost always require that you earn three (3) times whatever your rent amount is. Other cities and states may require that you earn 2.5 times, or even 3.5 times the rent amount, but almost all properties across the board in Dallas …

Aug
23

Buying a Denver Home Fast

Buying a house is a great way to start saving money. Buyers often pay less than renters because mortgage interest is tax deductible while rent isn’t. Some of the best housing markets in the country are places to find homes fast. One such example is Denver. Known as the Mile High City, Denver has long served as stop off on the way to other places. Today, it is a destination. People come here to cheer on the local football team, walk along the Rocky Mountains, and see a region that has much to offer. They also come here to live and be part of a thriving economy where it is possible to start a family and a career at the same time. If you are going to buy a home here, you’ll have lots of housing to pick from when looking for a residence.

Your Budget

The first thing you should do is consider your budget and the kind of home you want. Home prices here are generally cheaper than in other parts of the country. You can expect to spend less for a house in the suburbs or the inner city than you might in Chicago or New York. As a result, your housing dollar will go further and you will often get access to important amenities like a club house and a pool. You will also find many types of housing here such as townhouses and freestanding homes. One of the most popular is the ranch with the finished basement in the surrounding area. An apartment in the center of town is ideal if you want easy access to the airport.

Working With Sellers

Before you start working with sellers, make sure you have your finances set up if you want to move on a home fast. Working with a company like https://djpayscash.com/ that buys and sells homes can be an ideal way to find a large inventory of properties. They can often offer you a house that you can buy as soon as you get a mortgage. You can also buy a home directly from a seller. In order to buy quickly, you should take the time to spend looking at local area neighborhoods. The city of Denver sprawls in many directions so you’ll have a lot to pick from.

Making a Home

Above all, you want to make your Denver home your own. You want a house or an apartment that allows you to take advantage of all the many wonderful things and sites that Denver has to offer everyone. If you are searching for a Denver area place to buy, you can work with many kinds of sellers including companies that specialize in buying property in the area. They can help you determine what kind of property is right for your needs and then help you buy it. A good company along with a good understanding of the housing market will help you get the home of your dreams fast.

 

Aug
18

How to Find an Apartment for Rent in Bangkok

Bangkok is one of the top tourist destinations in the world. In 2016 it was ranked as the most visited city across the globe.  The sights and sounds of Bangkok are its main attractions to diverse groups of tourists. Commerce and trade naturally increased too, in order to meet the demands of local and international tourists.

A boom in tourism means an increased demand for tourist lodgings, and semi-permanent accommodations for expats on an extended holiday in Bangkok.  A large number of multinational officers as well as retirees, and international students have made Bangkok their second home.  Apartments for rent in Bangkok are generally affordable, but finding the right one could be quite challenging.

Location

Location is a prime consideration. For foreigners working in Bangkok, it is best to choose a place near the commercial business district, or one within walking distance of MRT and BTS.   Bangkok’s temperature is hot and humid throughout the year, and traffic is horrendous. With these considerations, traveling by tuk-tuk, or bus or car could be quite tasking. Aside from MRT and BTS, test commute is by boats and motorcycle taxis.  For families intending to live in Bangkok, the best place to pick is outside the city.

Types of Accommodations

There are different types of accommodations in Bangkok. They vary in terms of size, comfort, and cost.

Studio type apartment is the top choice of singles living in Bangkok.  However, for those on a tight budget, studios will do for lower income couples and families.  A very basic 25 square meter room could cost 3,000 THB per month. Its furnishing is bare, and the toilet flushed with a bucket of water.

A more comfortable accommodation is available at 6,000 THB. This type of studio unit has basic furniture, standard toilet and bath facilities, and a security guard at the building’s main entry. If the place is not in proximity to the MRT or BTS network, for the same price a 45 square meter studio unit with access to the gym and parking is possible.

Apartment units are usually in proximity to the MRT and BTS stations.   If the preference is cheaper apartment units, older units built before BTS have lower rental rates.

Older style apartment rental rates start at 12,000 THB per month. These are usually located a stone throw away from MRT. Though the units are old, they are spacious and comfortable for the price. Some units come with other amenities or facilities, while some do not.  Older apartments might have older air-conditioners, thus higher electricity bill.

New or modern apartment rentals, start at    18,000 THB per month. The floor area is not quite as spacious as those of older apartments, but the furnishings and gadgets are top of the line.  These apartments are near MRT and BST stations. The lease is usually short term because the rate of occupancy is not that high.  The space may be small but staying in this type of apartment is very convenient and hassle-free.

Serviced apartments are …