Halkalı Halı Yıkama Beylikdüzü Halı Yıkama Bahçeşehir Halı Yıkama seocu

Rent Control Will Kill Multifamily Real Estate

One of the side effects of years of denying the truth about inflation and the rising cost of living in the U.S. is the ongoing destruction of multifamily rental properties as an asset class. The happy campers at the Federal Reserve Board and Bureau of Labor Statistics tell us that inflation is low, sub 2%. In fact, across the country real people are experiencing real inflation closer to double digits, a harsh reality that is causing a groundswell of progressive proposals from modest rent control to effective confiscation of multifamily real estate in states like New York.

The proportion of Americans that own a home or hope to has fallen dramatically since 2008, creating a vast sea of permanent tenants that provide fertile ground for socialist elements to recruit new supporters. The Real Deal reports (“How rent control battles are playing out across the US“) that in Philadelphia, radical progressive groups have organized renters into a “tenant union.” “Now, organizers and socialists show no signs of stopping, as they canvass neighborhoods in small teams to build support for rent control,” TRD reports. They continue:

“Much of the reason the debate is generating such interest now is simply demographics: at least 5.4 million single-family homes were converted into rentals in the decade after the foreclosure crisis. No longer just a stop on the way to homeownership for those near the poverty line, the share of renters has dramatically increased. Renters are now the majority in the 100 largest cities in the United States, according to a 2017 Harvard study.”

Back in August, The Institutional Risk Analyst featured an interview with Dale Hemmerdinger (“The Interview: Hemmerdinger on the End of Hope for NY Multifamily Housing“), the head of a New York family that has developed multifamily rental properties for generations. He talked about how the new rent control laws passed by the New York Legislature would slowly kill multifamily rentals in New York as an asset class. He told The IRA:

“By limiting the ability to move rent-controlled apartments to market rates, you have taken away any hope for investors to make these properties grow in value. And you have damaged these assets in terms of financing. Who wants to finance a property that cannot recover costs and therefore must slowly deteriorate?”

A combination of rising costs for living and construction, increased prices for property and also restrictive zoning rules, have effectively blocked the construction of new housing, according to consumer activists. But the truth is that “affordable” housing has not been economically viable in major American cities for half a century. Building below-market rentals in American cities such as New York and Chicago always required subsidy. With costs rising to more than $5,000 per square foot to acquire and build in the five boroughs of New York, the amount of subsidy required to rent a new unit below market rates makes such projects impossible.

The sad part of the latest upsurge in progressive angst is that rent control laws are not going to increase the stock of affordable housing in major U.S. cities. In the past, when confronted by confiscatory rent control laws, owners of housing would simply convert the units into condominiums. In this, more extreme cycle of contrived socialist anger from aspiring politicians, many developers may be forced to take far more desperate action.

Going forward in New York, owners are likely to simply gut vacant, unimproved apartments units in the rent control system and wait for the law to change. Renting an apartment that has not been refurbished in decades creates enormous risk for tenants, landlords and lenders. Since the New York State Legislature and Gov. Andrew Cuomo have decided to prohibit landlords from recapturing capital costs needed for refurbishment, a number of landlords have decided to simply take these units off the market. Market prices for rent-controlled buildings will fall and many of these properties could eventually be abandoned, as occurred in the 1970s.

In financial terms, the damage has already been done in cities like New York, which passed a very aggressive rent control law last year. Lenders are already backing away from these assets due to the likelihood that the income generated by the property will fall. Banks involved with lending on multifamily properties nationally have hundreds of billions of dollars at risk. Bond investors own many billions of dollars more in mortgages and other financing to support this asset class. As tenant advocates press for even more restrictive rules for rents and capital improvements to support asset values, look for the flow of investment into multifamily real estate to dwindle.

California will cap rent increases under a new law signed by Gov. Gavin Newsom. Some call the measure the most significant piece of housing-related legislation in the hyper-progressive state, but California politicians still refuse to relax zoning rules to spur more construction of affordable housing. California talks about helping affordable housing, but its powerful homeowners and developers refuse to support polices that would allow new construction in affluent areas of the state in practice.

The pretext used by Newsom for imposing rent control is the growing homeless problem in cities such as San Francisco and Los Angeles, where tougher rent control laws already exist than the statewide measure just signed. “If rent control helps reduce homelessness, why is the problem so prevalent in the very cities that already have it?” writes Jim Breslow in the New York Post. “And how is extending it to the rest of the state supposed to address the issue?”

The short answer to that question is it’s not. Rent control laws are unlikely to increase the stock of affordable rental housing in major U.S. cities, but this is a global phenomenon. Countries such as Germany and Denmark are adopting rules to control rent and discourage foreign investors in multifamily real estate. But investors and landlords are not the enemy. The real problem with the cost of housing in most industrial nations is inflation — the real rate of increase in the cost of living. Inflation is an issue that eventually turns on monetary policy and the ebb and flow of the financial markets.

A century ago, in the years immediately following WWI, many U.S. cities tried their first experiment in rent control, with disastrous results. Wages and prices were also tightly controlled during the war years, but these measures were eventually abandoned as unworkable because of persistent inflation in the basic cost of living in major cities. Then, in the 1920s, the Fed actually allowed wages and prices to fall in order to correct financial excesses. Imagine allowing rents and home prices to go down. Today, in the post-2008 world, policymakers fear deflation more than any other possibility and thus open advocate higher inflation.

Until such time as the Federal Open Market Committee is willing to allow wages and prices for necessities and housing to deflate, there is little hope of seeing a solution to the problem of affordable housing. As progressive politicians try to gain favor with consumers with rent control laws, the stock of affordable housing is likely to shrink as banks and private investors increasingly shun multifamily real estate as an asset class. And as the stock of affordable housing dwindles in cities like New York, Los Angeles and San Francisco, look for a lot more political rhetoric, but little in the way of actual relief for inflation-stressed consumers.

Lagos State Govt. Vows To Tackle Unauthorised Real Estate Practitioners

The Lagos State Government says it will tackle the menace of unauthorised real estate practitioners across the state.

The Special Adviser (SA) to the Governor on Housing, Mrs. Toke Benson-Awoyinka, said this in a statement in Lagos on recently.

Benson-Awoyinka said that the state government had planned a stakeholders forum for real estate practitioners, aimed at tackling the menace. She said that the one-day stakeholder’s engagement slated for Wednesday had as its theme ”Lagos Real Estate: Achieving 21st Century Compliance”.

The Special Adviser said that the theme of the forum showed that the state government was making frantic efforts to eradicate the dubious practices of some real estate practitioners in the state.

According to her, the forum will help restore sanity and orderliness to the housing sector.

Benson-Awoyinka said that a legal approach alone might not be enough to solve the problem of fraud in the real estate business in the state, without the commitment of all the stakeholders.

She, however, said that the present administration was determined to ensure a conducive environment for seamless operation within the sector.

”I implore the real estate/agency businesses to cooperate with the state government so that the state as a smart city would be made investors’ haven, not only in Africa but the world at large,” she said.

Source: Pmnewsnigeria

UAE Central Bank Confirms Move To Control Real Estate Exposures

Central Bank of the UAE releases for consultation proposed new regulations to better control real estate exposures in the banking industry

The Central Bank said it has invited banks to provide comments on the proposed framework through the UAE Banks Federation by October 31.

The Central Bank of the UAE has released for consultation proposed new regulations to better control real estate exposures in the banking industry.

It said in a statement that the primary objective of the proposed framework is to enhance financial stability by redesigning regulatory measures.

The refined measures are expected to improve flexibility for bank lending to the real estate sector, while ensuring that banks with higher real estate exposures, above a set threshold, will be subject to supplemental regulatory requirements.

In addition, through the application of a backstop, the proposed measures avoid excessive real estate exposures and encourage banks to maintain diversified assets, the statement added.

Lending to the residential real estate sector stood at AED243.5 billion ($66.3 billion) in 2018 while the total domestic credit extended by banks was just over AED1.5 trillion.

The Central Bank said it has invited banks to provide comments on the proposed framework through the UAE Banks Federation by October 31.

Earlier this week, Reuters quoted Abdul Aziz al-Ghurair, head of the UAE Banks Federation, as saying the move is to protect the whole economy, as “you can’t have all your lending in one sector”.

Earlier this year the Dubai Government set up a new real estate committee to ensure a better supply balance in the emirate through greater collaboration between government-related entities and private sector companies

Source: arabianbusiness

Why Operators Violate Real Estate Regulations

The regulatory bodies in real estate include but are not restricted to the following; Estate Surveyors and Valuers Registration Board of Nigeria(ESVARBON), which is the regulatory body for controlling and setting standards for real estate and valuation practice. The profession came into limelight when in 1969, a group of qualified chartered (General  Practice) surveyors formed what is known as the Nigeria Institution of Estate Surveyors and Valuers  (NIESV), as a non-profit voluntary professional organisation to cater for the interests of the real estate profession in the country.

But despite these encouraging figures and trends, the Nigeria real estate industry is still burdened by several issues that are hindering its growth and these issues have not been addressed to give boost to the sector. According to the World Bank’s ease of doing business report for 2013, Nigeria is among the worst globally, when it comes to registering property. It ranks 182 out of 185.  The process of registration of property can last as long as six months to two years, taking an average of 12 procedures, and costing about 20.8 per cent of the value of the property. The lackadaisical attitude to work is the major cause of undue delay at the land registry.

Oftentimes, a developer’s application would pass from office to office over several weeks and by the time the necessary approval is obtained, he may have lost his source of funding or incurred huge interest on loan obtained for development. Hopefully, the new comprehensive Second Lagos State Development Plan (LSDP), adopted in 2013, aims to streamline the regulatory environment and improve incentives for private investment and business; for example, land registration initiatives, the creation of GIS maps and the piloting of an e-approval system for development permit.

Building a house in Nigeria is not only frightening, it is also very expensive. A three-bedroom house, for example, will cost about US$50,000, compared to US$36,000 in South Africa and US$26,000 in India. The cost of construction is high for three reasons: high costs of building materials, high skilled labour costs, and costs associated with poor roads and sewage systems.

Experts  have posited that about 75 per cent of houses in Nigeria’s urban areas are built with concrete. Cement prices in Nigeria are about 30-40 per cent higher than in neighbouring countries and world market prices. The lack of public infrastructure adds as much as 30 per cent to the total costs of the development. Nigeria has been fortunate not to experience natural disasters such as earthquakes, tsunami, or tornadoes.

Yet, despite the absence of disasters, the incidences  of  building collapse continues to rise because many of the buildings are not done by competent professionals . Since we don’t have natural disasters to bring down our buildings, we simply created our own through  negligence. Privately owned buildings both commercial and residential account for the highest number of collapsed buildings in Nigeria. From 2010 to 2016, a total of 3,1222 persons have died as a result of over 137 building collapse. This figure does not usually include those who die long afterwards as a result of injuries sustained and are usually not accounted for.

The Lagos State Property Protection Law of 2016 has been there but it seems the aim of that law is not achieved because the menace for which the law was promulgated in the first place has continued to stare us on the face.

This law ought to be a statutory response to the menace of the omo-onile (land grabbers) in Lagos State. It majorly prohibits four conducts in relation to land in Lagos State: (i) forceful entry to landed properties; (ii) illegal occupation of landed properties; (iii) violent in relation to landed properties; and (iv) fraudulent conducts in relation to landed properties. But today, land grabbers have continued to exploit citizens. Some parts of the law have retrospective effects. For example, people that have forcefully obtained the land of other people had only three (3) months grace from the commencement of the law to vacate the land, otherwise they will be deemed to have committed an offence punishable by ten (10) years imprisonment.

Bribery and corruption have a negative effect on the Nigerian real estate sector. This has had a far-reaching effect on anything done in Nigeria. There are instances where developers who have not satisfied the preconditions for allocation of land are granted allocation while those who are qualified are denied. Real estate investors are subjected to multiple taxations, the taxes and levies paid by them include development levy, income tax, building plan approval levy, property tax, land use tax, and we also have cases whereby real estate investors are expected to pay renovation tax whenever they want to renovate their properties.

The exchange rate in the country and ban on importation and exportation of anything through the land boarders is also a big problem because not everybody can afford importation through air or sea. This generated increase in cost of doing business and living. As a result of the high costs of doing business, property developers to remain profitable will have to pass on these additional costs incurred to the market. According to industry experts, the estimated rise in the costs of housing is 25 per cent  – 35 per cent.

You The Urban and Regional Planning and Development Law of Lagos 2010 has been there but has also become a toothless bulldog. It has been seen by some people to be subjective in action and this has discouraged a lot of people who had wanted to access the provisions of the law for redress. This law should provide for the administration of physical planning, urban development, urban regeneration and building control in Lagos state and for all connected purposes. Failure to obtain requisite permit before development or failure to comply with approved standard may lead to issuance of (i) Contravention Notice; (ii) Stop Work Order; (iii) Quit Notice; (iv) Seal-up Notice; (v) Regularisation Notice; and (vi) Demolition Notice.

The law also has criminal sanctions which may be payment of fines of up to N500,000 or one month community services, or both. The law has been relaxed because a lot of people build without recourse to stated designs yet authorities will see it and keep quiet. But ordinarily, it should assign the overall administration and responsibilities of planning and development in Lagos State in the hands of Lagos State Ministry of Urban and Regional Planning. These administration and responsibilities are to be carried out through three agencies in the Ministry: (i) Lagos State Planning Permit Authority (PPA); (ii) Lagos State Building Control Agency (BCA); and (iii) Lagos State Urban Renewal Agency (URA).

Source: sunnewsonline

Alpha Mead, LASTVEB Partnership Seeks To Bridge Real Estate Artisan Skill Gap

Concerned about the widening skill gap in the artisan segment of Nigeria’s real estate industry, Alpha Mead Group has partnered with the Lagos State Technical and Vocational Education Board (LASTVEB) intent on bridging the gap.

The partnership wants to achieve this goal through the company’s recently launched Corporate Social Responsibility (CSR) initiative known as Alpha Mead PATH.

PATH is an acronym for Professionalism Acquired through Timely Human Development and, according to officials of Alpha Mead, the new initiative is aimed at demonstrating the company’s commitment to human capital development, business sustainability and economic prosperity of its chosen markets.

Femi Akintunde, the company’s Group Managing Director, explained to BusinessDay that the initiative seeks to address frontally the dearth of artisan skills in the market by mobilizing and working with their employees to make technical education attractive again.

“It is also aimed to increase employment opportunities for artisans and create sustainable wealth for this segment of the real estate industry,” Akintunde said, disclosing that the pilot programme was launched in Lagos recently with a two-day special training and mentoring sessions for more than 100 technical college students from Ikorodu, Ikeja, Ikotun, Epe and Badagry.

Laolu Oguntuyi, Director of Technical and Vocational Training at LASTVEB, commended Alpha Mead Group, saying that the initiative was not just timely, but also out to address fundamental gaps that the board had been looking to fill over the years.

“I must commend Alpha Mead Group for the initiative because it speaks cogently to identified gaps we have been doing so much to bridge at the board. The difference between acquired skills and required skills is what is called a skill gap. And as a board, we have noticed these gaps and are making efforts to close them.

“So, when a company like Alpha Mead Group, with over 12 years’ experience in the market across 11 countries approached us to collaborate in supplying that side of required skills that has been missing, we embraced it and that is why we had to bring in students from all our technical colleges in Lagos to be part of this,” the director said.

Oguntuyi advised the students to take the opportunity seriously because they would need those skills to progress in their career and in life. “The world is now a global village. What that means is that there is nothing called local skill any longer.

“There can only be one standard and that is what will be acceptable globally. I encourage you all to seize this rare opportunity to expose yourself to these international standards so you can be relevant in the market that is emerging globally”, Oguntuyi told the students.

Wale Odufalu, Group Executive Director, Corporate Services of Alpha Mead told the gathering that “at Alpha Mead Group, human and capacity development is dear to our hearts. We recognize that business success and sustainability can only happen when the right people with the right capabilities and skills drive the process.”

“As an organization that works with a lot of technicians, we have experienced firsthand, the impact of these skill gaps on operational output. But rather than shy away or complain, in addition to what we are doing to constantly upskill the crop of technical staff in our employment, we decided to take a holistic approach to address the challenge over the years,” she said further.

She said that this was one of such holistic approaches. “We are bringing the required skills, through the experiences of our employees, to meet the students in the classroom so when they go out there, they can combine the acquired skills they learnt in the classroom with the required skill we have designed for them and become better and more competitive,” she said.

Housing Deficit

Odufalu said that the approach was not new to Alpha Mead, disclosing that they had to set up the Alpha Mead Training Centre (AMTC) to increase facilities management skills and competencies in the market.

This, according to her, was because no higher institution in Nigeria today offered facilities management at the undergraduate level. “Today, AMTC has not just produced some of the best FM talents in Alpha Mead, it has supplied the industry with competent hands,” she said.

On her Part, Erejuwa Gbadebo, Managing Director of Alpha Mead Group’s Real Estate Research and Advisory arm, noted that the PATH initiative was another way Alpha Mead wanted to increase the opportunity and deepen the real estate sector.

“So, after considering a number of options, we concluded to work with the technical colleges, because that’s the bedrock of technical and vocational skill in Nigeria today”, she said.

Source: businessdayng

Real Estate Developers Are Turning To Affordable Rentals

Fireplaces and marble countertops were once the makeup of a competitive apartment. But today’s renters search for reasonable prices, not the latest amenity.

As families look for affordable options, many developers have refocused their strategy toward low-cost apartment construction. Over the past six years, developers have cut amenities, the reductions have been more prevalent over the past two years. Since last year, low-amenity developments rose to 16.1% from 12.2% of new construction, according to a CoStar analysis of building amenity rankings across the U.S.

“Amenity and finish levels have decreased, and it would appear that is in response to a demand for lower rent,” said Andrew Rybczynski, a senior consultant at CoStar, a real estate information company.

Not only are developers toning down the amenities in apartments, but they are also shifting where they actually build new housing. Developers are choosing to build in suburban areas instead of trendy urban areas.

Shift to the suburbs

Suburban development, with lower land costs and looser zoning restrictions, overtook prime urban development in 2018. Since then, the gap has only widened, according to CoStar.

“The premise is, we can build new construction with well-amenitized buildings at lower rents because land values are lower in the suburbs. You are generally able to charge rents that are more affordable at the workforce level in the suburbs,” said Katherine Kelman, associate director of L + M Development Partners.

Online search data shows that renters increasingly target the lowest-cost apartments when searching for apartments, the CoStar study showed. But the demand for reasonable rent also comes as households’ wages fall behind rent hikes. In 2017, wages grew 2.7% nationally, while average rent prices increased 3.9%. Rent prices have increased faster than wages every year since 2012, according to an analysis by CoStar.

“Housing costs are rising and rising. Rents outpacing income growth is evidently forcing some to seek [apartments] in affordable areas – even at the psychic costs of not being near the happening area and likely longer commuting costs,” said Lawrence Yun, chief economist and senior vice president of research at the National Association of Realtors.

“Price sensitivity has never been more important to people… It’s a different market,” said Bess Freedman, CEO of New York City-based brokerage Brown Harris Stevens.

Developers’ shift down-market is likely positive, as budget-friendly supply will only ease the tight housing conditions in the bottom half of the market, said Rybczynski.

Apartment demand spiked to a five-year high in July, as rising home prices caused a flood of would-be homeowners to enter the rental market. The surge in demand led to a 3% rent price increase from last year nationally, according to RealPage, a real estate software and analytics company.

“Affordability is the No. 1 problem for shelter in America… If developers create more supply in suburban locations, that will temper rapid price increases,” said Wolf.

Source: finance.yahoo

PE Funds Pump $3.8 Billion Into Indian Real Estate

With banks and NBFCs turning their back on real estate, private equity funds are coming to the rescue of the cash-starved sector. On the backdrop of the liquidity squeeze, private equity funds have invested $3.8 billion in Indian real estate in the first nine months of the calendar year, 19% higher than the $3.2 billion invested during the same period a year ago.

That’s 19% higher than the investment of $3.2 billion during the same period a year ago, according to ANAROCK Property Consultants data. Most of it went to commercial real estate and close to half to Mumbai. Investment in the National Capital Region (NCR) however declined.

As much as 95% of the money, or $3.6 billion, flowed in as equity investment at a time when other financiers are either avoiding exposure to the sector or have increased the risk weight associated with it. The remaining 5% was in the form of structured debt.

“Commercial real estate continues to be the hot investment target for private equity investors in 2019 and the trend will most likely continue in the quarters ahead,” said ANAROCK Capital managing director and CEO Shobhit Agarwal. “To add to it, the success of India’s first Reit (real estate investment trust) is a major draw for global investors who are keen to capitalise on the country’s high demand for Grade A commercial real estate.”

He reckons many investors are eyeing similar Reit opportunities, which in turn will open up more funding avenues for the sector as and when several large developers begin to list their commercial assets. India’s first Reit, the Embassy Office Parks Reit, was launched in March. NBFCs have been hit by a liquidity crunch in the wake of defaults by Infrastructure Leasing & Financial Services (IL&FS) last year.

While domestic investors’ appetite for the real estate sector has weakened, overseas investors are reposing their faith in it and also taking advantage of the ongoing liquidity scenario. Of the $3.8 billion invested so far, the third quarter alone has attracted nearly half of this amount.

Foreign private equity funds continued to dominate the real estate investment scene. Top investors included Blackstone, Hines, Ascendas and Brookefield.

“Rise in equity investment points at institutional investors’ confidence in underlying growth in the Indian economy,” said Bhairav Dalal, real estate tax leader, PwC India. “The ongoing transformation in Indian real estate sector is expected to push long-term returns upward even though it is facing short-term hiccups right now.”

According to Bhairav, institutional investors will continue to prefer commercial real estate assets given the robust demand and more monetisation avenues including Reit market opening.

Commercial real estate continued to lead the funds inflow, attracting 79% of the total investment or $3 billion, in the first three quarters, up 43% from $2.1billion in the year-ago period.

The residential segment attracted $295 million against $210 million a year ago. Retail and logistics and warehousing have seen total inflows of around $260 million and $200 million so far in 2019, respectively.

Among key markets, the Mumbai Metropolitan Region (MMR) saw the maximum inflows at $1.59 billion, up 3%. Neighbouring Pune registered more than a 200% rise in investments to nearly $390 million from $125 million. Hyderabad saw a 76% decline to $190 million. Bengaluru had a 17% yearly gain at nearly $490 million in 2019. Private equity funding in NCR, however, fell further in 2019 to $115 million from $150 million.

Source: economictimes

5 Real Estate Quotes To Never Ignore And Hidden Wisdom They Possess

Real estate goes beyond houses and corporate high-rises. It is a foundational and much-required asset class for wealth creation, multiplication, transfer, and preservation. It is, no doubt, an indispensable tool designed for the support and sustenance of human life.

Humans, over the centuries, have applied intelligence to raw physical real estate to transform it. This value addition, in turn, attracts monetary value and has also created a lot of eureka moments, some of which have been documented for knowledge transfer and to inspire. These documented discoveries reinforce further the role and importance of real estate as a constant in the wealth creation equation and they have led to more work, discoveries and opportunities.

One way this has been done is through quotes. Business legends living and long gone who have learnt and used the tenets of real estate have condensed their findings and lessons into quotes so as to convey to other people, in simple terms, their theories – as long as you see the goldmine they possess. These quotes can help you do more when you seek to understand them by asking the right questions and not limiting their use to marketing.

Some of the best quotes are thus analyzed below. These quotes have been identified with the goal of helping you extract more meaning. They will also help you to possibly chart a course towards your own discoveries, ultimately leading to sustainable and exponentially increasing wealth creation through real estate.

Ninety per cent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate—Andrew Carnegie

The development and transformation of mankind have been made possible by the continuous interaction and interdependence between the two kinds of real estate that exist. The first kind of real estate is the physical real estate (universe) while the second is the human being. There is no gainsaying the fact that many millionaires and billionaires have emerged through real estate and this quote by Scottish businessman and philanthropist, Andrew Carnegie, puts it into context. It explains that not only have many of the wealthiest men in history’s books emerged from real estate, many still will.

There is still much money to be made on a continuous basis as long as the earth exists and this will always be true because real estate (land) plays a foundational role in economic prosperity. However, for the investor of today to make the most out of the opportunity presented, he or she must devote time to seeking answers on consistently delivering value such that money can be made regardless of changing trends and cycles. There are tools that allow you to maximize the use of real estate to create wealth sustainably. Your job is to find these tools.

I used to own two homes in Atlanta. But it was a lot of trouble. There are leaky roofs; you have to call people. It takes up too much time to own property everywhere. Now I stay at the St. Regis. I used to like cars a lot, too. I had 25 of them: Porsches, Ferraris— Aliko Dangote

In this quote, Aliko Dangote, billionaire and richest man in Africa, explains that he once owned two homes in another country and it was a lot of trouble for him. It goes to show the importance of having a personal definition for real estate and knowing what it will cost you to achieve the goals you set. People own real estate in several locations for several reasons. When the reasons are more emotional than logical, it will mean more expenses and headache than income. In such a case, redress is required.

What are the factors that make real estate investments in multiple locations problematic? How do you circumvent these factors? These are the questions to be asked. Experience shows that the challenges around multiple locations real estate range from improper coordination of assets, maintenance, management and ultimately, liquidation. It is also important to check if the idea of multiple home investments in different locations meets your wealth creation and lifestyle goals and not just an emotional deficit issue.

The major fortunes in America have been made in land—John D. Rockefeller

There is a popular story of a man who sold his field only to find out after selling that his field contained an expensive mineral resource which was in high demand. Land holds a large percentage of all the natural resources in raw form. Solid, gaseous, liquid and semi-solid minerals are found within the earth’s crust.

What the late American business magnate means here is that there is more to land than what’s on the surface and you can only get the best use of your investment in real estate when you invest with clarity of purpose, plan, intentionality and diligence. If the buyer of the field in that story had bought the property without a plan and abandoned it, he may never have known that the property had high-value treasures of the earth in it.

The earth crust holds so much for wealth creation. An investor and a nation at large should seek to know what fortunes are available in real estate and how these fortunes can be made in succession for collective prosperity.

READ ALSO: American Real Estate Investor Eyes Nigerian Market

If you don’t own a home, buy one. If you own a home, buy another one. If you own two homes, buy a third. And, lend your relatives the money to buy a home—John Paulson

John Paulson is an investor and multi-billionaire, and this quote by him nudges you to answer the pressing question: Why own more than one home? By all means, invest as much as you can in real estate, but be sure you are able to give a logical and profitable reason why you should own more than one home in specific locations and you must know how best to manage them.

If you would lend your relative money to buy a home, you must also figure out how the money will be paid back without family feuds. It is important to build a structure that makes it profitable to lend family members and other people money to buy homes. This is why there is such a thing as real estate financing.

We have the best flat land; you can grow anything in the cheapest possible way; turning Nigeria around is not really that difficult. Nigeria is really the best place to invest; it is one of the places to make money; all over the world it (Nigeria) is the best-kept secret actually in terms of investment—Aliko Dangote

Housing Deficit

All countries of the world have resources and peculiarities. An investment in the real estate of a certain country requires that you see something spectacular, tangible and measurable. It is also important to know what is within your control. As an ambitious investor, you should ask questions around an existing billionaire’s perspective, modify the answers based on current realities and create a desired financial or business growth outcome for yourself.

More insights have been distilled from these quotes and many others which have been converted into actionable steps to grow real estate investments, optimize profit in changing times and through real estate cycles. To request for these distilled insights, send an email to info@futureperfectproperties.com.

American Real Estate Investor Eyes Nigerian Market

An American real estate businessman, Founder and Chief Executive Officer of South Park Management LLC, Asahn Guyton has revealed plans to expand his business operations to Nigeria, bringing his expertise to bare on the ever-growing real estate sector of the country, with a view to making available to the people affordable housing in choice environments.

“I actively invest in buying properties, then making repairs or improvements to the properties, and sell it later for a profit, he said in chat with our reporter through a telephone conversation.

“My plans are to invest in Nigeria and expand my portfolio to the Nigerian market and compete with the Chinese as they too are buying and developing in the Nigerian Market, he added.

Continuing, he said, “Lately, I’ve been a passive investor, I just buy a real estate property and hold it to collect monthly rent and let the property appreciate in value.” But the man who was born in Elizabeth, New Jersey and now resides in Las Vegas, Nevada has a bigger plan for Nigeria as he says he’s not all about profits but comfort and top quality services to rival and surpass competitors on ground

. “Appreciation occurs over time, generally, though an investor may “force the equity” in a property by making enhancements to it or the surrounding environment to increase its value. In general, residential real estate is valued by the “comparable sales” method which estimates the value of property under the principle of substitution.

The method estimates property values by comparing a subject property to similar properties sold in similar locations within a recent period of time,” he said, giving an insight to how the residential real estate works but electing not divulge on strategy to employ to break into the market. Asahn Guyton started his operations in 2014 and currently runs South Park Management LLC and South Park Consultants LLC.

Source: Vanguardng

Sleek home built from 8 used shipping containers

From afar, it looks like a sleek South Florida house splashed in white and gray hues. Impact windows outline the exterior. There’s a two-vehicle carport and an open-air terrace. A bed of river stones fill the front yard.

But if you take a closer look at the boxy home, you might see a semblance of its former life; this is a house built out of used ocean cargo containers.

For over a year, South Florida architect Asghar Fathi has been slowly building this three-story shipping container home in Davie that he and his family soon plan to move into.

Installing cabinets and appliances, he’s just adding the finishing touches to the project, which he began to show people that you can build a sustainable and economical house in the region.

“It’s a simple, straight-forward modern building,” said Fathi as he proudly gave a tour of the home at 4620 SW 55th Ave. in Davie, which dwarfs the quaint one-story bungalows on the block. “And it’s strong and durable, termite-proof, hurricane-proof.”

In recent years, fellow homeowners and developers have also jumped on the cargo home building trend, recycling former sea containers into new residences and offices.

In Jupiter, there’s a rustic two-story cargo home that serves as an Airbnb rental. In September, Miami startup Echo Tech Visions and container home developer Build Everyday Better broke ground on two affordable and environmentally friendly container homes in Miami Gardens.

Those new residences will be about 1,200 square feet, with three bedrooms and two bathrooms. Units will cost about $205,000.

“The innovation is finally catching up,” said Keiandra Payton, a facility manager at Echo Tech Visions. She believes the shipping container home trend is spreading because the units are easier to build in a shorter amount of time. And they’re affordable in a region where homes can top more than $300,000.

Source: SunSentinel

japon seks - ajans seks - esmer seks - public agent seks - seks hikayeleri - sohbet numaraları
Kıbrıs gece kulüpleri