Archive for April, 2009
El Paso Condominium Homes
El Paso Texas is a vibrant and growing city offering plenty of opportunities for business and employment. More than 70 fortune 500 companies reside in El Paso Texas. El Paso is also the 7th fastest growing city in the United States. So if you are thinking about relocating for a better job prospect or just looking for a place that offers you better business opportunities this is the place to come.
The real estate market here offers plenty of opportunities for interested buyers. If you are looking to buy a condominium you can find many new as well as existing condominium constructions coming up for sale in El Paso. Prices are highly reasonable:
Condominiums offer comfort and cater to the needs of modernday living. Many condominium buildings offer vast benefits to home owners in the form of a gym or swimming pool and so on. The layout for areas in the condo shows high space utility and necessary features are placed in kitchens and bathroom. Before you proceed to buy an El Paso Condominium Home check out on the following:
The Home Owners Association HOA rules for use of common areas such as swimming pool gardens and so on must clearly state out. Any ambiguity here is cause for concern.
Look into the buildings security measures. Is the security strong enough for a building of the size and the number of residents?
Check out the amount you have pay towards maintenance and how the payment is going to be used in maintaining the common areas of the building.
Read any that doesnt have to be followed by residents. In some buildings pets are not allowed so the HOA rules must be acceptable to you.
Check out if the building is located close to transport facilities and shopping vicinities.
There are many stylishly built condominiums in El Paso Texas offering benefits of both comfort and space. You can search to buy from ads on your own or you can hire a real estate agent to do the searching for you. If you choose to make your purchase through a real state agent ensure that you take services from a reputable real estate agent so that you know your dealings will be safe and that all legal formalities related to your home purchase is done correctly.
About the writer: Paul is a principal of NewHomesSection.com. Search El Paso real estate El Paso home builders and new homes today!
Due Diligence – An Investor Necessity
You need to do your due diligence when investing in real estate. What is due diligence? Here is a simple definition: “The investigation and verification of the details of a particular investment.” You can start this process before making an offer but in the offer you also normally include clauses that allow you to have inspections done review the books and look at certain documents.
Due Diligence Guidelines
Your due diligence should always include a look into the books and records. Look at the last 24 months income and expense statements and watch for anything unusual like expenses that are too low or income that seems high. Review the rent roll and investigate whether rents are over or under the market rates for the area. You need to see the payroll records if there are employees. Look for surprises like accrued vacation time that you’ll have to pay.
Verify income. There should be rental agreements signed by the tenants as well as rental histories which might show if there are any problem tenants or late payments. Rental deposit documents should show amounts and where the deposits are kept.
Examine service contracts and agreements. Do they transfer or are you free to seek better deals? These could include property management agreements landscaping snow plowing pool cleaning service and heating and cooling system maintenance agreements.
Walk around with pen and paper for your initial exterior inspection. Note anything unusual or in need of repair. Get professional inspections if necessary. Verify that the electrical and plumbing systems are up to date and meet current codes. You may also want an estimate of how many years of use the roofing has left. Look at driveways landscaping and the condition of exterior paint.
Due diligence needs to include an interior inspection. Learn about the place the tenants and any problems you’ll have to fix in the coming years. Look for water or fire damage pest problems and obvious “problem tenants.” Watch for empty apartments that are listed as occupied. Use professionals as needed for pest inspections safety inspections and such. The local Fire Marshall may do a free inspection to verify that the building meets current codes.
Call local authorities to see if there are zoning or encroachment issues or permit problems. Were there been any fire code violations? Were they corrected?
Get some professional help when doing your due diligence. An accountant can decipher the books and notice any problems. A lawyer will not only review your offer and other documents but can also tell you what other things you should be doing.
Always take notes and do something about serious issues have them fixed adjust your offer etc.. Usually the problems that investors run into when buying income properties are not unforeseeable. Most of them can be avoided or resolved if you work through your due diligence checklist.
About the writer: Copyright Steve Gillman. See the page: Due Diligence Checklist for a good checklist and visit the home page for a free real estate investing course: http://www.HousesUnderFiftyThousand.com
Dubai Commercial Property – Prospects For New Investors
Dubai is known as one of the fastest growing cities in the world. The emirate attracts business from all over the world and because of the citys commercial vitality multinational organizations from all around the world want to establish their offices in Dubai.
Minimum import duties in Dubai is one of the main reasons why regional and international entrepreneurs are interested in establishing their warehouses in Dubai. Because of lucrative business opportunities Dubai commercial lands are becoming more and more precious. Investment in Dubai Commercial lands generates great returns for investor because of their ever growing prices. Accommodation for labourers is one of the main concerns for all Dubai businesses because the UAE is heavily dependent on expatriates for workforce. Once a new company starts its business it has to establish labour houses in Dubai for the accommodation of its labourers.
The business of restaurants in Dubai is also very profitable. Indian Pakistani Arabian and continental foods are favorites in Dubai. People associated with the business are always looking for shops in Dubai to open new cafes and eateries. So if someone is really interested in investment in Dubai commercial property he can buy shops in Dubai and resell them at profitable rates after sometime.
With the rapid increase in Dubais population the demand for health facilities in the city is also growing. Many International Hospitals in Dubai are catering the citys medical needs but still more are required. As the demand for medical facilities in Dubai is continuously on the rise theres a growing lack of space for hospitals and clinics in Dubai. So investing in spaces for medical facilities can also bring the investors high returns in very short time.
Commercial Property in Dubai is available in different forms such as office spaces warehouses labour houses hospitals/clinics and hotels and restaurants. So you have options abound if you want to invest in Dubai commercial property.
Real estate experts believe that Dubais Commercial property will become very scarce in next couple of years as more and more businesses coming in Dubai are creating high demand. So its high time for people interested in investment in Dubai commercial property to buy properties for better future prospects.
About the writer: Daniel Marshel is senior real estate consultant associated with Better Homes a leading real estate firm in Dubai UAE. He has more than 25 years of first hand experience of working in Dubai real estate market. His firm Better Homes offers online Dubai commercial property listings property management and property investment services.
