Recently, a mistake was made on our account by an internet service to which we subscribe and our account was suspended. The only way that this could be remedied was via email customer service. There was no phone number given on their Contact Us page. Frustration set in because it took way too much time to write them and prove that the mistake was theirs not ours. Two days later the account was suspended again for the same reason. Again, the burden of proof was on us which took more of our time. And, we are one of their best customers!
Most of these items are on a "unit price" basis meaning putting real estate in Marbella. new replacement windows will cost anywhere from $175 to $200 per window. A new roof on an average size 3 bedroom ranch would cost approximately $5,000 to $7,000. A new gas furnace would cost approximately $4,500 to $6,000 installed. And siding on this same size house would be about $5,500 to $7,000.
What are we going to do with the Russians my dear friends? As this country becomes more stable and as oil prices move upwards so the middle/upper middle income Russian real estate development. people will become more and more financially able and to turn their attention to the holiday home destinations. The average sale prices per sq.mt. for this type of property that the Europeans usually buy is in the region of CP1.500 - CP2.500 [max.] per sq.mts., the Russian market with a particular interest for Limassol, has even shown prices of CP4.000 - CP6.000/sq.mt. for beach units.
This benalus is another common mistake beginners make. Not allowing for all the expenses and costs involved. Sometime we forget some important things. Sure we know we need to include the purchase price and the renovation costs. But what about other costs and expenses such as, closing costs including legal fees, title insurance, property insurance, real estate taxes, and real estate company or service. transfer tax when selling the house.
To better clarify this, I can influence an appraiser to appraise a $200,000 property for as much as $225,000 or as little as $175,000. That's a pretty big swing. And in a tight deal that can cut into your profit margin substantially. I tell my appraisers not to give me any fluff, or what they think is happening in the market place. As Sergeant Joe Friday from the show "Dragnet" always said, "Just the facts ma'am." So if the seller or savvy wholesaler gives you the appraisal, just keep in mind it could also be just another marketing brochure to sell the deal.
Do you know of an agent or a company in your marketplace or a neighboring marketplace that "owns" a segment of the market? Perhaps, it is a specific golf community, a luxury high rise, the downtown area or the waterfront area. Their name is synonymous with that niche.
Real Estate, like the rest of life, does have risks. If it didn't it probably wouldn't be as muck fun. And it surely wouldn't pay off with the incredibly strong rates of return that it does. Land development is a way to take a small amount of money and turn it into a fortune. If you can see the vision, stay the course, and make friends with plenty of city planners and other governmental types, you can have a new and prosperous career in land development.