Mar 31, 2015

Posted by | Comments Off on What Makes the Cayman Islands Such an Attractive Place to Buy?

What Makes the Cayman Islands Such an Attractive Place to Buy?

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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.

Many Options

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.

Competitive Amenities

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.

Final Thoughts

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.

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May 12, 2015

Posted by | Comments Off on 3 Ways By Which You Can Purchase Property With Little or No Money

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:

#1: Partners

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.

househunterhq2#2: Owner Financing

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.

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May 11, 2015

Posted by | Comments Off on 3 International Investing Mistakes to Avoid

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.

househunterhq1#2: Only Using the Services of One Real Estate Agent

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.

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Apr 18, 2015

Posted by | Comments Off on 3 Steps to Get Started With Real Estate Investing

3 Steps to Get Started With Real Estate Investing

3 Steps to Get Started With Real Estate Investing

Given the lavish lifestyle that many real estate professionals enjoy, one might wonder whether you are cut out for the profession of real estate investing.

However, most people who took a chance to work in real estate investing starting with literally nothing believe that it is very possible.

Having said that, here are 3 simple steps to get started with real estate investing:

#1: Question whether real estate investing is for you

Ask yourself if real estate interests you. Instead of doing this because of the get-rich-quick schemes that you’ve seen, choose to be a real estate investor because you like it and for no other reason.

#2: Look for the worst property

For starters, look for the worst property that you can fix as soon as possible without spending too much money either. In most cases, this would be cosmetically distressed properties in middle-income markets. In other words, look for homes that need cleaning, painting and carpeting. This means that the property itself will require the minimal amount of work to restore it to normalcy and increase its value.

#3: Run the numbers carefully

Probably the smartest tip of all is to be able to calculate whether or not the property you do invest in has returns even before you spend a dime.

For example, you can make a list of the earnings vs. costs to own a property and if you find that the returns are positive, then this should be a simple deal to sign. Or else, it will be a good idea to think twice before investing.

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Apr 17, 2015

Posted by | Comments Off on 4 Benefits to Running TV Ads to Find Real Estate Deals

4 Benefits to Running TV Ads to Find Real Estate Deals

4 Benefits to Running TV Ads to Find Real Estate Deals

There are a number of ways to find deals and one them includes running television ads. Of course, as with all methods, there are pros and cons in taking such an approach.

Having said that, here are 4 benefits to running TV ad so as to find real estate deals:

#1: Wider reach

For every dollar that you spend on a television advertisement, more people will see the ad compared to any other form of media. This is what makes TV ads excellent for creating brand awareness since someone can get in touch with your company even a year down the line just in case they find themselves in trouble.

#2: Increases Response Rate

If you run other types of ads, then a television ad along with these will stay on peoples’ minds, if necessary. For example, if someone sees a commercial and then gets a letter from your company in the mail, they are more likely to respond since your company has already been introduced to them.

#3: Generates a Good Number of Leads

Despite popular opinion, you can generate a good number of leads through TV commercials. From experience, people have received at least 26 or more leads in the first couple of months. Given that 1 out of 8 of leads are usually motivated sellers, a real estate professional can easily close more than one deal every month.

#4: Less Effort on Your Part

Probably, the best benefit of all is that you do not have to do any brainstorming or writing ads or even any of the simpler tasks that comes with advertising campaigns. All you have to do is write a check every month and they’ll do the rest.

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Mar 31, 2015

Posted by | Comments Off on Cayman Islands Condos: Affordable Property on a Beautiful Island Chain

Cayman Islands Condos: Affordable Property on a Beautiful Island Chain

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Written by:
RE/MAX Cayman Islands

Summary: A condominium offers the chance to own land on the Cayman Islands at an affordable price.

The Cayman Islands are known for being a vacation destination, but there is a thriving financial sector too. Everyone who lives and works on the island needs a place to stay, but income levels put some properties out of reach for all but the highest paid residents. Yet there has also been a surge of sales on the island, despite the prevalence of luxury properties. One strong reason behind that improvement is the amount of condominium projects springing up around the island.

Attractive Living at an Affordable Price

Real estate on Cayman Islands is highly sought after, especially near the beaches. In 2014, sales of condominiums spiked significantly, especially in the under $1 million USD range. These sales were concentrated heavily in the Seven Mile Beach sector, suggesting that there are plenty of buyers who want beach front property.

Condos represent a good opportunity for individuals with less than $2 million. They offer the chance to own land on the Cayman Islands, and to be a full or part time resident. Sales also did not plunge at higher price points. Condos between $2 and $3 million still experienced an increase of almost double the sales from 2013.

Condo or Home?

It’s likely that both types of property will see an increase, but homes will always hold the higher value over time. A condo offers those who want vacation properties the chance to live a dream, a home offers a better vessel for retirement. Both can be attractive prospects to the proper buyer.

Bio: RE/MAX Cayman Islands specializes in Grand Cayman real estate, including commercial and residential properties.

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