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 leftovers 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 is not 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 may 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 transaction is also allowed.

The tenants should come up with what they want and need to move out peacefully, keeping the house in …

Help! I Have To Evict My Nephew!

The eviction of a friend or relative is not easy to do. It has to be one of the most difficult lawsuits, if not the most emotionally draining, of all types of evictions. You may be one of the lucky ones who can rent to a friend or relative with no side effects. Still one day, there may come a time when you have to look your friend or family member in the eyes, and ask him or her to leave your apartment.

In the eviction of a relative stranger, even a long-term tenant, the process isn’t personal, just business. The tenant can’t pay the rent, so he has to leave. It’s the end of an association with more or less minimal emotional ties between the tenant and the landlord.

Evicting a friend or relative is one in which sides may be chosen, and lines drawn in the sand. Once the eviction notice has been delivered, do not expect many friends or allies to come to your aid. Depending upon the circumstances of the eviction, you can expect to have your life made miserable by anyone impacted by your decision.

This is because the expectations of a friend or relation are much higher than that of a stranger. If there is a tenancy problem, the expectation is that you will treat the tenant more as a friend or relative than as a financial investment problem. You will be asked to accept less than you normally would for rent arrears, to wait longer for your rent, and to accept behaviors that you would not normally tolerate.

For example, let’s say you need to raise the rent. A rent increase could be perceived as a betrayal of your friendship. Your aunt could think you are taking advantage of her. It doesn’t make sense, but when money is concerned, all bets are off. As far as a friend or relative is concerned, you are in his or her pocket. A belief that you are soaking your tenant for more money that you ‘don’t really need’ could cause your family member to not pay the increase.

Be clear and resolved about why the eviction must take place. Have all of your written documentation in place. Check all of your paperwork, rent cards, letters of warning etc. before you send your notice to quit. Make sure you have a leg to stand on before starting the eviction case. Conduct a due diligence of your property and the legal case.

Hard feelings will sometimes come with the rental and eviction territory. Do not expect to be able to discuss the case calmly with the offended tenant. Do not expect a cool head to prevail over your eviction action. If you evict your nephew, expect your sister or brother to be totally ticked off at you. Your friend may think you are a jerk for evicting her because she parties loudly every weekend, disturbing your other tenants. Your aunt may not come to your aid when your …

Creating a Quiet and Restful Home

A home is many things. For many people, their home is a way to retreat from the world and relax. A long day at work can feel endless. Many homeowners want to walk through the door and feel relieved knowing they can shuck off the day’s cares and let go of stress with friends and family. Creating a home that exudes calm is a task that can be done by paying close attention to all parts of the house. This includes each window, the bedding, the kitchen area and all bathrooms. Every room in the home should contribute to a feeling peace and harmony. Any homeowner should be aware of easy ways to help them create this feel in areas of the home from the attic to the basement.

Regulating Light

Light makes a huge different in any home. A large puddle of light in the middle of the family room on a cold day can lift anyone’s spirits. Soft kitchen lighting at night when preparing a meal makes the kitchen a place to gather and enjoy. When it comes to light, it’s best to help regulate it carefully. For example, using window coverings as you’ll see if you hop over to this web-site, well helps make sure that the entire room has the amount of light the homeowner wants. A series of shutters that can be easily opened and closed allows for the blocking off of unwanted light or the creation of a space that is entirely full of beautiful, warm natural lighting.

Using Color

Another way of creating an elegant and restful space is through the use of color. Color is all around wherever people look. The right colors depend on each person’s personal preference. Some people love bright colors like vivid shades of green and purples. Other people find it better to use neutral colors in their home such as browns and shades of grey. Any color scheme should be carefully thought out. For a more relaxed and peaceful feel, look for a background of shades of white and paler colors. Painting a wall a soothing color such as pale pink or understated peach allows the room’s walls to retreat and makes it feel less walled in.

A Warmly Inviting Home

A warmly inviting home is a place that is fundamentally serene. A serene home is where the chaos of the outside world is kept at bay. Using techniques such painting the walls the right window coverings helps vastly facilitate the process of creating a warm home that is calm. Many homeowners want to have an oasis in their lives where they can let down their hair and avoid worry. It’s easier than ever to do this with the use of careful attention to varied home details. An understanding of the process of creating a home that allows for total relaxation can be done. Any homeowner should think about what they want from their home and how they can get it.

Hiring the Right Long-Distance Company Movers

A long-distance move of any kind can be highly stressful. This is particularly true of a long-distance move with a company. Company relocations require a lot of patience and attention to all aspects of the move. Any company preparing for a move must be prepared well in advance. Organization and mastery over the details are crucial for these types of moves. The same is true of any help that company officials choose to hire. Help is particularly vital for those company officials who may not know a specific area well. Even those officials who are fully aware of their local concerns are served with help from experienced moving company people who know how to manage the move and have done many company moves before. A thoughtful moving company can make any company move much easier and less stressful.

Before Leaving

Before leaving, packing is vitally important. Proper packing should be done in order to make it easy to unpack all necessary items once the move begins. In a long-distance move, this is necessary as the items will be on the move for a longer period of time than in other kinds of moves. Hiring a moving company that might be found if you hop over to this website can make packing easy. Many long-distance movers offer packing that companies need as well as moving services. Most companies opt for a gradual packing plan that allows them to plan for the move they have in mind in stages.

Planning For Transit

Moving items long distance can take many forms. Some companies prefer to move their items in trucks they own. Other companies like the convenience of having another company to provide transport for them. In many instances, a combination of both kinds of transport methods is best. Lighter items can be transported in light trucks because they don’t take up much space. Larger items with great heft are best fitted in a large truck where they can be securely fastened during all stages of the move. An effective and easy long distance move is one that allows these decisions to be made well in advance so there are no last minute decisions that must be made during the move.

Unpacking it All

Once the move has been planned and started, the next stage can begin. During this stage, the focus must be on making sure that all items are brought to the ideal space in each place. Each particular item must be carefully carried into the new space once it is unpacked from the truck. A good moving company can provide the long-distance mover with the opportunity to unpack right from the van and not worry that they need to spend even more time unpacking once at the final location. This can help any company owner save both time and money as the move flows more smoothly and easily. Advance planning and the right help are the keys to an effective and thoughtful long-distance move.

 …

History of the 1031 Tax-Deferred Exchange in Real Estate

What is the history of the 1031 tax-deferred exchange? Some investors know that the exchange is a strategy long used by real estate investors. An investor sells investment property and buys or acquires “like-kind” property following the regulations and stipulations of Section 1031 in the Internal Revenue Code (IRC) to defer federal tax, capital gain, and depreciation recapture taxes. “Like-kind” is defined as any type of real estate. You can sell a retail center and buy an apartment building or land in a 1031 exchange; you can sell an office building and buy an industrial building or hotel.

Note: the 1031 tax-deferred exchange is often known as a deferred exchange, a “like-kind” exchange, a Starker exchange (you will see why later in this article), or it is often simply known “a 1031”. No matter what it is called, investors can defer the tax by reinvesting into another investment property if they follow the strict rules. It is one of the tax benefits of investment real estate ownership.

So how did this all come about – what is the history of the tax-deferred exchange?

The tax-deferred exchange actually has a rather long and complicated history dating back to 1921. The first income tax code was adopted in 1918 as part of The Revenue Act of 1918, but it did not provide for any type of tax-deferred exchange. The first tax-deferred exchange was authorized as part of The Revenue Act of 1921 when the United States Congress created Section 2021 of the Internal Revenue Code. Between 1921 and 1970, exchanges were always simultaneous swaps between two parties, by the way.

In 1928, the section number in the Code was changed from 2021 to Section 112(b)(1) with the passage of The Revenue Act of 1928. The 1954 amendment of the Tax Code changed it again, this time to Section 1031 of the Internal Revenue Code, and much of our present language and procedural details were adopted at that time.

However, we can thank the Starker family for the rise of the “deferred exchange”, the way a majority of exchanges are handled today (as opposed to simultaneous swaps). In 1979, a taxpayer named T.J. Starker, transferred timber property (which was free and clear of debt) to Crown Zellerback Corporation in exchange for a promise by Crown to transfer to him like-kind property chosen during a five-year period. At the end of this five-year period, Mr. Starker would receive any outstanding balance in cash. A trust agreement was formed so that all sale proceeds were held in a separate bank account, and clear terms of the trust stated that the funds could only be used to purchase replacement property for the Starker family, and for no other purpose. In fact neither Crown nor Starker even had access to the money except for buying replacement investments. The IRS, upon seeing the arrangement, denier the tax deferral arguing that a 1031 mean a simultaneous swap, which was how the IRS interpreted the code to this time. In …

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

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 geographical 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 design 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

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 …

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 vivid 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 publicorms.

The University of Thessaloniki offers lessons 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 norms 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 complimentary wireless Internet access and a hair dryer. All rooms at the ensuite feature a private bathroom and a kitchenette (Kassandrou 134).

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 standardone 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 partially furnished and are more suited to students who plan to stay in Thessaloniki for a few years (as you've got 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 …

Where Can You Invest in Ahmedabad?

The real estate in Ahmedabad is witnessing an upward growth trend in recent days. The rapid growth of the industrial sector and overall economic development has helped Ahmedabad to turn into a rapidly developing city in the country in all aspects. With intelligent development governance and progressive policies, Ahmedabad has established itself as the ideal real estate destination in Gujarat. If you are planning to buy an apartment or house in Ahmedabad, here are few locations that are ideal for investment.

Bopal

Bopal has faced a multifaceted development in recent days attracting towards it a lot of investors and home buyers. High-end development blended with royal culture and scenic beauty has made Bopal a preferred location to buy houses for many. Also the capital values of apartments in this locality is affordable when compared to its neighbouring areas.

South Bopal

South Bopal is located close to West Ahmedabad. This suburb is growing exponentially as several corporate companies have started to set up their offices here. This western suburb also enjoys good connectivity to all neighbouring suburbs and cities. The industrial cluster Mandideep located just 20km from Ahmedabad has several factories that help in increasing the working population looking out to buy houses in and around the workplace. Apart from industrial development, Bopal also houses several good and reputed educational institutions.

Satellite

It is a well-developed area in Ahmedabad and is the most preferred real estate destination as well. It is located nearby to the commercial office spaces in Parhlad Nagar making it an ideal choice for people working there. Also Satellite is connected to other localities with well-laid roads and public transport.

SG Highway

The Sarkhej-Gandhinagar Highway connects Ahmedabad to Gandhinagar and provides easy connectivity between various other localities. The areas near this high witness growth in both residential and commercial sector turning SG Highway as the most preferred residential hub. With large parcels of land and affordable prices of properties, SG Highway is currently the best location in Ahmedabad to invest in properties.

Gota

Gota is a suburb of Ahmedabad where you can buy apartments and plots for sale at affordable prices. It is well connected to other suburbs and cities via the SG Highway.

Chandkheda

It is located in the Northwest of Ahmedabad, which has developed into a most sought-after residential hub due to the ONGC office located nearby. It offers plots and apartments at a very cheap price attracting towards it lower and middles income group people. Though its growth is not in a tremendous speed, Chandkheda is developing into a residential and commercial hub with several new corporate projects.

Sanand Nalsarovar Road

For those of you who wish to buy house in a serene locality free from hustles and bustles of the city, Sanand Nalsarovar Road is an ideal location to invest. It attracts towards it many reputed investors and builders to launch several new residential projects. People are also showing great interest in buying houses in this locality.

Bagodara

It is also another serene and …