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 …

Buying a Home Off of Parents or Grandparents – Can I Get a Home Loan for a Favourable Purchase?

Favourable Purchase: What is it?

A favourable purchase is a bank term for what they call a transaction where a property is sold “off market” and under “market value”. Off market means without a real estate agent involved so the buyer and seller either know each other or it’s a private sale. Under market value refers to the situation where the seller is not selling the home for what the property is worth and are therefore in essence gifting the purchaser equity.

The most common example is where mum and dad may be retiring or looking to move or downsize and will want to sell the family home. Sometimes the children decide they would like to purchase the property off their parents. The parents will then sometimes sell the property to the kids for a price less than what they could sell on the open market to help their kids out or keep the home in the family.

This is a favourable purchase and different Australian lenders apply different policy on this issue.

How do the banks view a favourable purchase when approving a home loan?

It is important to distinguish a favourable purchase from a sale where the buyer believes they are getting a great deal and buying the property at well below market value. Banks will always lend and base their LVR and deposit requirements on the lesser of the contract of sale price or the valuation unless an exception applies. If for example you purchase a property for $500,000 and the valuation did come in higher at $550,000, the bank will base their LVR and deposit requirements on the lesser of the two, in this case the purchase price of $500,000. If however the valuation came in lower than the purchase price then the banks will base it on the lower of the two being the valuation.

Just stating that you have got a great deal is not sufficient to get the bank to make an exception to the rule and base their deposit and LVR on a valuation that came in higher. There must be a compelling reason why the vendor is selling under market value – the fact they are going bankrupt or it’s a deceased estate is not a compelling reason as, theoretically, what you are paying is market value as that is what the market has deemed the property worth on that given day.

The primary reason why the bank would make an exception is where a favourable purchase is involved. If parents are selling to children the banks understand that there is a reason there, essentially being for love and affection, why the parents are selling below market value. The result is that many lenders will base their LVR and deposit requirements on the actual valuation and not the purchase price.

So what does this mean to me and how much deposit will I need?

When purchasing a home in Australia and getting a home loan you need a deposit. Generally the …

Why Gurgaon Has a Good Scope for Residential Projects in 2016

Some of the best residential projects are happening in the city of Gurgaon in the next 12 months. As the real estate market picks back up and the Indian economy continues to recover, this is one of the premier regions to find the best deals and most beautiful properties on the market. Here are a few reasons by Gurgaon should be your real estate destination in 2016.

1. A Wide Range of Options

One of the best aspects of Gurgaon real estate is the fact that there are many different types of homes available in varying townships. If you’re looking to spend a lot of money for luxury, you’ll be able find such an environment as easily as you can affordable housing. According to the Real Estate Times, the two types of buyers that have emerged in Gurgaon recently are those looking for residential property versus specifically luxury properties. Well-known real estate developer Unitech has recently put down new residential projects in Gurgaon that features luxury amenities. Not only do these types of townships boast the usual services, such as club houses, open green spaces, and excellent access to major roadways, but there’s another level of luxury now offered.

The Ivy Terraces, for example, are a group of properties situated within Wildflower Country and boast access to self-contained services such as schools, nursing homes, shopping areas, banks, and taxi stands. Luxury housing these days is an up and coming commodity, and if you’re looking for a wide array of options from which to choose, look no further than the townships and new projects in Gurgaon.

2. View from the Top

Don’t forget that although you may find a gorgeous flat to live in, you don’t want to forego natural beauty either. According to India Homes, one of the strongest reasons why Gurgaon projects are a good bet for investment is the fact that many apartments offer attractive views of the bucolic landscapes that surround the Millennium City. Properties are located within a more open setting than a city such as clogged and sometime claustrophobic nearby Delhi. Although larger cities and their surrounding suburbs are known for being major business capitals, Gurgaon has the best of both worlds. You can go to work in the Millennium City, or commute to a job in a larger city nearby, but then go home to both a beautiful, luxurious township filled with greenery. This is helpful in leading a life that’s balanced between personal enjoyment and peace, and hard work in your professional life.

3. The Economic Forecast Is Sunny

Gone are the dark days of the recession that were full of doubts and insecurities about the future as the national economy continues to improve. In fact, real estate experts reported to Business Today at the end of last year that it’s time to start investing again, especially due to the fact that prices in certain areas, including Gurgaon, have lowered due to various market factors. If you’re looking to get in on the …

Commercial Agents – Tips to Qualifying Commercial Tenants Today

When it comes to leasing commercial or retail property today, the selection of tenant will be fundamental to the quality of the outcome for the landlord. This says that not all tenants will do or be acceptable when it comes to leasing vacant commercial premises.

So the commercial real estate agent has to qualify and understand the tenant that is enquiring on the vacant property before matters proceed. Some questions need to be asked to get the correct match of property.

When fewer properties are selling, the lease activity tends to be higher. Successful businesses still need to operate from quality commercial or retail premises. This is an opportunity for commercial property agents that specialise in commercial leasing.

So let’s go back to commercial property leasing and the elements that should be considered when qualifying tenants. Here are some key factors to consider before you start:

1. Understand the capabilities of the property when it comes to tenant occupancy. Things to know will include services, amenities, and size of tenancy, improvements, fitout design, and availability, term of lease, options, rental requirements and type, and landlord plans for the property. The permitted use or legal use of the property should be understood as part of this process.

2. Get a full brief from the landlord as to the type of lease that they will do for the premises. A lease can be varied and negotiated, but you have to have the landlord’s base requirements before you start. Ask the landlord about rent levels, lease terms, option periods, preferred tenant, renovation and maintenance plans for the property. These facts should be in parity to the comparable properties in the local area that are also on the market to lease at the moment.

To qualify the tenant you can take the following approach:

  • Find out where the tenant has come from and if they are moving from another property. It is likely that the timing of the move will have impact on your negotiations and inspections.
  • What does the tenant know about rent and properties in the local area? Have they looked at anything else in the area and if so what? It is best to know what you are up against early in the inspection process.
  • Has the tenant been looking at other property with other agents and are negotiations underway elsewhere on any ‘short-listed’ property now? This will have an impact on your discussions and inspections with them.
  • What levels of rent and lease term does the tenant have in mind? Make sure you find out about the extras of lease occupancy such as outgoings payments, and consumables including electricity, gas, water, and communications.
  • Will the tenant require a long lease term and or an option period for a further term? This may not always suit the landlord.
  • The numbers of tenant staff and the type of business will have impact on the improvements and fitout in the property. Ask questions about things such as car parking, loading and deliveries, office

Assignments of Rents – Lenders Beware!

“How can you have any pudding, if you don’t eat your meat?”

Pink Floyd

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Assignments of Rents. Here’s a topic that doesn’t pop up in light conversation very often.

Assignments of Rents. Virtually every commercial real estate financing includes an assignment of rents – either as a separate instrument, or in the mortgage, or both. We think we know what it means, and what protection it provides. But do we?

Assignments of Rents. What could assignments of rents possibly have to do with Pink Floyd?

It has been suggested on occasion, only half-jokingly, that I don’t like lenders. That is really not true. Lenders are valuable participants in the commercial real estate market. Without lenders, few of my clients could buy, develop or own commercial real estate projects. Commercial lenders provide valuable liquidity to the market (usually) and allow commercial real estate developers and investors to leverage available resources.

For years, I have described commercial lenders and their borrows as “friendly adversaries”. Friendly, because they need each other. Adversarial, because their interests are not always completely aligned. They are each necessary complements to the other.

In good times, all typically works well, with lenders and borrowers sharing a common goal -financing a viable commercial project that makes each of them an attractive return.

In troubled times, like we have seen over the past several years, lenders and borrowers can find themselves at odds. The current economic downturn has been particularly brutal because the commercial real estate market has seen an unprecedented collapse in property values and tenant rental revenue. Lenders often blame the borrower, because the loan has ended up in default. Realistically, for most commercial real estate borrowers, there is little if anything they could have done to prevent a default, save not acquiring and financing the project in the first place – which, in hindsight, most borrows wish, as much as most lenders wish, had been the case. But neither borrowers nor lenders foresaw the dramatic financial debacle we have been experiencing since 2008.

Still, we are where we are. Commercial real estate borrowers are holding projects with substantially lower values than existed five or six years ago, and may be in default of their mortgage loans. Not unreasonably, commercial real estate lenders want their money back.

Assuming the lender has properly documented and administered its commercial real estate loan, the lender should be in the driver’s seat. All else being equal, with a properly documented and administered commercial loan, a lender has a powerful arsenal of enforcement tools at its disposal.

That said, lenders must still comply with the law. Assuming they can pass the test of having a properly documented loan that has been properly administered in a manner that does not violate the rights and interests of the borrower, the mere fact that a lender is owed millions of dollars and has a secured interest in the borrowers project (including, yes, an assignment of rents) does not mean a lender can do whatever it …

How to Find a Quality Halfway House in the United States

WHAT YOU NEED TO KNOW ABOUT HALFWAY HOUSES*

The first thing you need to know is that most halfway houses are NOT regulated. Many operate without a state license. Most halfway houses, regardless of whether they are licensed or not, do a great job at helping a person stay sober, and can assist a person in reconnecting with family, and also becoming a contributor to society. Many Halfway Houses operate without a license simply because the licensing agency and/or the zoning commission prevent halfway houses from operating in their neighborhoods by restricting census (total amount of residents in any single location or house). Few halfway houses can stay open when a licensure agency and/or zoning department tell them they can only have 4 residents in a large 4 bedroom house. Few places can keep their doors open with these unfair and illegal tactics due to the large overhead incurred (lights, electricity, heating, cooling, insurance, mortgage payments, staff, etc.). What is most important is how they go about helping people to stay sober and keeping residents on track- what is their main focus, making money or helping people- this is typically the main difference between a quality run halfway house and a poorly run facility. There are many questions to ask to determine the difference between the two. Are they staying on top of their resident’s sobriety? How do they maintain a clean and sober environment, etc.? Do they have rules? What are the rules? How do they enforce them? Always ask to see a copy of the rules!!! Are they a coed facility? Typically, a male or female only halfway house has better odds at maintaining sobriety and dealing with length of stay issues. You will want to know what happens if you come home drunk at 2 A.M. on a Friday- do they just kick you out of the halfway house into the neighborhood? Do they have protocols for dealing with this and many other possible scenarios? Find out how they deal with situations before moving in. You should definitely be given a complete tour (especially visiting exactly where you are going to be placed), along with explaining all the rules and regulations, as well as a residents responsibilities. Note: Most Halfway Houses require, at least initially, a resident to have a roommate, as this helps make sure a person is accountable by at least one other person besides the House Manager and the General Manager/Owner.

You should take note of how the place looks. A few years ago I was involved in property assessments for a program helping mentally ill patients. One of the first things we would take note of is whether there was grass growing in the cracks of the concrete. Another item was the condition of the landscaping (was the grass mowed, the bushes trimmed, the trees pruned, etc.). We would then move on to how the paint looked, the roof, whether the windows were clean, etc. With this same approach, you should be looking …

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

Save Yourself From Fake Realtors

People across the globe have been fooled and cheated by land scamsters. The misleading claims of real estate dealers lure people in buying property, which was never open to sale! If you are thinking of purchasing land, do the necessary homework beforehand to avoid falling victim to such land scams.

In these tough economic conditions, investing into real estate is considered to be a potent tool to attain financial stability. This is the reason why people find investment in real estate more reliable and are therefore ready to pour down their fortune to own a piece of land. As usual, this boom has also given birth to frauds and scams and a considerable amount of people have fallen victim to these swindlers.

So, if you are thinking of acquiring a plot, beware of these con artists. You can follow these simple steps to avoid being a victim;

Reputation Of The Real Estate Dealer

First look around to know about the reputation of the real estate dealer. You can also check with the firm itself to know about its experience in the field. Tell them to show you testimonials from previous clients. Find out whether the dealer you are thinking of hiring holds and participates in property exhibitions periodically. This will help you judge the goodwill of the firm or the dealer. You can also research on the amount of expertise or capability of the personnel associated with this firm. Last thing that counts to judge the reputation of the concern is whether the top brass of the firm are invited or rather asked to speak at social gatherings. These points will really help you to judge the reputation of the real estate dealer.

Visit The Realtors

Sometimes, due to work pressures, we often find it hard to manage time for a visit to the real estate dealer. And therefore we try to get the entire work done either through phone or online. Studies show that maximum land scams occur due to this very reason. Though you can start a negotiation online or through phone but you are advised to visit the realtor personally. Doing so will let you spend some time with the firm which will further educate you on their capabilities and previous work reports. Moreover, you can also ask them questions regarding the property.

Legal Guarantees

When you acquire land, you also get inclined to several issues and tensions. To get rid of such complications you should make sure that the realtor or firm you are choosing offers guarantee that the land is indeed up for sale and they have the right to sell it. Go through the legal documents very carefully.

Verify All The Claims Made

Your watch out job starts when you visit the real estate dealer and are presented with a brochure. This brochure usually contain information about the plot as researched by the firm in due times. Studying them carefully will give you an idea whether the inputs are sketchy or true to sense. …

Wholesaling Real Estate In Six Easy Daily Checklists

We ran the largest real estate wholesaling business in the world wholesaling properties to investors in 280 US markets and the entire wholesaling process can be broken down into 6 easy to implement daily checklists. Here they are in order of importance and, coincidentally, the order you should work them each day.

First, you need to remind yourself daily the direction you are heading in and what you want to achieve. Stephen Covey says, “begin with the end in mind,” and so we want to review our goals, empowering daily questions and affirmations first. It should only take 5 or 10 minutes but it sets the tone for the entire day and is a critical, often overlooked, first step.

Second, and this is a big one, you need to take care of all your marketing. When wholesaling real estate you need to focus on marketing in a few major categories: buying (or controlling properties), selling (and building your buyers list) and hiring help.

For the marketing for buying properties you’ll be taking actions that get sellers calling you with the properties they have for sale. Easy things like using Craigslist effectively can produce a steady flow of wholesale deals.

You can also rely heavily on Craigslist when marketing to sell properties that you have control of and to grow and strengthen your buyers list. However, there are some highly effective, low cost direct mail methods of finding the most serious, active buyers that are buying deals just like the ones you control and are trying to wholesale too.

One of the easiest things to do to automate your wholesaling business is to find help that costs you nothing up front and that is only paid when you close a deal. Posting just one or two ads per week to find researchers and bird dogs can bring you a flood of deals and investor buyers that puts you in the position of sifting and sorting which sellers and investors you work with.

The third daily checklist is working with your seller inquiries through the entire buying process from the initial call back, through the research phase, to making offers and following up all the way through you collecting your wholesaler fee when you release control of the property to your buyer.

The fourth daily checklist is working with your buyers (both retail and investor). One of the great appeals to wholesaling is being able to rely heavily on the work you’ve done in the past with your existing buyers list. Growing your buyers list in number and strengthening your relationship with your buyers list are worthwhile daily activities.

The fifth daily checklist is where you work with your other real estate dream team members. Here’s where you focus on working with your title company, hard money lender, real estate agents, mortgage brokers and more. A strong team can make even the weakest leader successful so focus on getting the strongest team possible and let them do their best. If the transaction …

Real Estate Investing Basics – Choose Your Neighbor Marketing

A very effective, yet often overlooked method of marketing both your rentals and your houses for sale is door to door flyers in the neighborhood of your property. Residents who live near your property are likely to know someone – a friend, colleague or family member in the market for housing that they can pass your flyer on to. You may also attract the direct attention of a neighbor who is ready to buy or move up/down in their housing.

If you are local and don’t mind running around the neighborhood yourself, this method will only cost you a few hours plus the cost of printing. If you’re not available for the distribution, or just have better things to do, paying someone to distribute flyers is very cheap and incredibly cost effective if it results in a sale or a qualified tenant placement. Just remember to do a quick drive through of the neighborhood to ensure the flyers have been distributed if you’re paying someone to do it.

As for the content of the flyer, it’s worth it to take some quality photographs of the interior and exterior of the home. If your main selling point is the quality of the property, be sure to feature these in full color along with some of the basic specs of the home. If you are advertising a rent to own that’s a really great deal, make sure your analysis of the numbers is prominent and easily understood. Also, be sure to emphasize that this property is in their neighborhood and that this is an opportunity for them to choose their new neighbor. Lastly, don’t forget to include full contact information: your telephone number, fax number, email address and 24 hour recorded information line if you have one.

A more expensive variation of this method is to use direct mail to target your property’s neighborhood. Again, you’ll want to tailor your marketing message to let them know that this is their chance to mold the neighborhood by helping to select the new neighbors. To maximize your exposure, try using both flyer and direct mail distribution methods, timed several weeks apart to make sure that as many neighbors as possible get your message that you have a great property for sale or rent in their neighborhood.…