Written by: James Bovell Summary: Find out what you need to know before you buy real estate in the Cayman Islands. The Cayman Islands have become a thriving financial hub because of the...
Structuring the paperwork and form of partials usually occur in three common ways. Each of these ways have a few advantages and disadvantages to them. Out the 3 types that we will discuss,...
Why Purchase An Old House?3
Posted by admin | Comments Off on What Makes the Cayman Islands Such an Attractive Place to Buy?
The Cayman Islands saw a surge of luxury property sales in 2014, a bump as large as 40% with a net value of properties in the $150 million range. Driving this surge is a large development of condominiums along Seven Mile Beach, and a renewed interest in the island from the economic recovery. Real estate in Grand Cayman represents a significant opportunity, and now is a good time to buy. Here are some of the reasons that real estate has remained an attractive prospect.
One of the reasons the Cayman Islands remains so strong is because the market is not limited to Caribbean Vacation homes for sale. There are commercial properties and hotels for sale as well. The variety of investment opportunities attracts different buyers. Individuals seek out a vacation destination, while investor groups may look for business opportunities.
Cayman is not the only island vacation destination, so it must remain competitive. Many cruise ships pass through the area bringing tourists from all walks of life. Grand Cayman is in the process of renovating its airport to meet the needs of new travelers. Crime rates are already quite low, and the island maintains a number of extremely clean and well-staffed resorts and diving spots that continue to bring tourist dollars, and new renters, into the area.
With a variety of investment opportunities, investing in the Cayman Islands is an excellent idea for your retirement fund and for the community.
Bio: The Dream Finders team, led by James Bovell, deals exclusively in luxury real estate on Grand Cayman. To find your dream home, contact Dream Finders today.Read More
Posted by admin | Comments Off on A Few Encouraging Signs for Cayman Real Estate
Written by: James Bovell
If you’ve ever looked into buying Cayman Islands luxury real estate, you might have concerns as to when the right time is to enter the market. Cayman real estate can be several million dollars, but the value is quite high considering location and amenities. Weighing those expenses can be difficult, especially when one is investing in the future. Here are a few signs that things are looking up, and that now is a good time to buy real estate in the Cayman Islands.
Gains in Employment
One of the biggest factors driving an interest in Grand Cayman real estate has to do with gains in employment. The Cayman Islands thrive when the financial sector thrives, and everyone wins with higher wages and better paying jobs. As more governments worldwide embrace technology, finance and exports, more jobs are created and higher salaried workers invest in places that will hold value.
Borrowing costs are low, which is attracting many first-time homebuyers who might otherwise be on the sidelines saving money. Low costs mean thousands saved over time, which might help fuel more ambitious purchases that would not otherwise be possible with higher interest rates. The looming raise of interest rates also plays a role, as buyers are tempted to act now in order to receive the best deals.
Long Term Prospects
Real estate is one of the few investment vehicles that tends to produce returns long term, so many new investors looking for a safe place to store money are lured by the tax-free real estate in Grand Cayman. Bear in mind that you will pay a stamp duty on transactions, but there are no annual property taxes to contend with.
Bio: Dream Finders is the face of Cayman Islands real estate, with knowledge of homes and markets all across Grand Cayman.Read More
Posted by admin | Comments Off on What You Need to Know About Wholesaling
There’s one way by which you can earn $5000 in real estate – known as wholesaling.
Either you can buy a house, rehab it and sell it for a profit. Or you can sell it once you buy it without any renovations.
In other words, making money on a house that you never own. In fact, not owning the property is the key to successful wholesaling.
The first step involves finding a home that has good equity. Also, make sure that it is still owned by the homeowner himself so you can get it under contract. Also, take your time and close the sale in 30 to 60 days.
Now, place the words “and/or assigns” under the contract for a sum of – let’s say – $45000. Offer the homeowner a deposit of $10 to start work on the house.
The next step is to run an ad in the ‘houses for sale’ section of the paper. If the house has good equity, you’ll get several calls. Take note of the names and numbers that you can use when wholesaling other houses too. Once you find a buyer, transfer the property to his name for $50000.
So, you can pay the homeowner his $45000 while you keep $5000 for your work. This is pretty profitable work just for investing $10 as deposit and answering calls.
Of course, the option of rehabbing and selling it at a higher profit also exists. This depends on whether you have the finances to rehab the home.
That said, and with either option it’s a win-win situation for everyone.Read More
Posted by admin | Comments Off on 5 Types of Real Estate Investors
There are 5 types of investors. Four of them don’t make much money. That said, the fifth manages to run a successful real estate business.
For starters, the Dabbler is one who might attend a few seminars or read a couple of books. He might even look at a few properties to invest in but doesn’t commit in the end.
The second type is the ‘Economy Victim’. He’s either disappointed or unsure of stability or growth at his place of work. He also realizes that it is time to take his future in his hands. Even though he sees the potential in real estate investing, he has no idea how to take action.
The third type is the ‘Cash Flow Flop’. This is an investor who has spent a lot of his money buying properties. Despite doing this, he only enjoys little cash flow every month. One thing is for sure: he tires of these financial hassles with his properties.
The fourth type is the “Perpetual Bird Dog” who struggles to earn a living. This is because he is not able to realize his full potential. He wastes time and money submitting good deals to other investors. Unfortunately, they never fall through. This is because he has no control over the transaction while leads to frustration.
As for the fifth, he doesn’t have to deal with any of these issues. That said, there’s a difference between owning and controlling property. To be successful at real estate, you have to do the latter. How you can do this is by doing a quick turn, wholesale a property, sell a note or assign an mortgage.Read More
Posted by admin | Comments Off on 3 Ways By Which You Can Purchase Property With Little or No Money
Given how things are usually, one might wonder whether there are ways to purchase properties with the need for a downpayment.
Of course, there are ways to go about it. What you do need is a bit of imagination and people’s support as well.
Having said that, here are 3 ways by which you can purchase property with little or no money:
Using partners’ money is an excellent way to purchase a property that has foreseeable value. Some of these include no loan applications or credit check necessary. Also, you can get better rates, wait for a less amount of time and is rather easier to find. Of course, before you use their money, you’ll have to work out how you divide the profits. Just ensure that everything is in writing.
This is a quick and easy way to get financing and by which you get the seller to finance the property himself. There are a number of benefits involved with this approach such as no credit check or loan applications necessary. Also, there is no involvement of banks, closing costs or even stress too. That said, this approach can be tougher than most and would only work if you find a motivated seller.
#3: Credit Cards
Another way by which you don’t have to use your money to buy a property is to use credit cards that you might possess. This really helps since there comes a point when making a quick decision on real estate deals becomes the norm. For this, ensure you apply for a number of credit cards that can help you make these decisions quickly. Make sure that you use all of them regularly but pay off the balance as soon as possible. At the worst, keep the balances under 30% as far as possible.Read More
Posted by admin | Comments Off on 3 International Investing Mistakes to Avoid
Most people are confident about getting a good deal when it comes to buying international properties. This is based on the misconception that if you’ve been successful at investing properties in the United States, you can easily do this elsewhere.
However, nothing could be further from the truth given that these markets are very different from the American real estate market.
Having said that, here are 3 international investing mistakes to avoid:
#1: Buying Into A Developer’s Vision
It might seem wonderful to get first-hand information about a developer’s vision for the unfinished property that you intend to buy but you have to hold on. Instead, look at the reality and as to how much has been finished and then make a decision. It should be obvious that you only buy what you can see and touch.
Since there is a giant database of properties that is available to all real estate agents in the United States, this is definitely not the case when it comes to international real estate agents. In most cases, each of them maintain their own list of real estate properties. So, ensure that before you decide on buying a certain property, make sure you take a look around with a number of reputed real estate agents in that country.
#3: Not Using the Services of an Attorney
Buying a property without the services of an attorney is a big mistake. In some cases, people tend to use the real estate agent’s or seller’s attorney.
Why this is a no-no is because the property title must be researched by an attorney before you sign on the dotted line. And even if title insurance is not necessary in a number of countries, it would be prudent and obtain this type of insurance.Read More