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From Millionaire to Billionaire in the Real Estate Business

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It’s something many people dream of, but only a handful reach – billionaire status. It’s not always easy to attach two commas to the numbers in your bank account, let alone adding a third one. But in a recently conducted graph, there’s quite a few that took the jump from being a millionaire to a billionaire.

A business insider report shows there are now over 2,000 people who are lucky enough to call themselves billionaires. That is the highest number ever recorded across the world and has doubled within the last decade. Following this trend, the number of billionaires around the world will only get higher.

Who had the quickest jump into the “three-comma club?” Those in the technology industry, especially those at the forefront of the tech revolution (think Facebook, Amazon and Microsoft), made the status change in just over seven years. That is not a very long time to become a billionaire.

Now, what about in the real estate industry? Those who invest in real estate in some way can make a decent amount of money in return. But how long, on average, does it take to become a billionaire in this area?

Based on this information, you are looking at almost 20 years to reach billionaire status. That is over double what it took for the tech industry people to become a billionaire. That number is slightly above the average of 14 years.

But that doesn’t mean it is impossible to become a billionaire in the real estate market. In fact, China has become an example of that industry rapidly growing within the past few years. The Chinese mainland property market is probably the fastest way to increase your wealth. Between seven of the country’s top real estate tycoons, they are adding tens of billions of dollars to the market.

China was the second fastest country to take the jump to the billionaire status with just under ten years. Their rate is only slightly behind Russia taking the number one spot with nine years. Keep in mind, this information is based on self-made billionaires and not those who inherited their fortune.

Don’t let the number of years shy you away though. There is money to be made in real estate. In fact, many people think real estate is the best way to build and maintain your wealth. There is more than just one way of making money in this industry which can be beneficial if you are trying to rush the process.

Lots of investors get into the rental market – owning a building, whether residential or commercial and renting it out. That money is typically steady income with minimal work required.

Other options are through buying low and selling high. Many investors can snap up a cheap house through foreclosure sales and a little negotiation. Whether the property needs a bit of fixing up or staged the right way, you can then sell the same property at a higher price.

There are even more ways like through tax benefits, increasing the equity and through refinancing. But the point is that you can make money in the real estate industry that could get you into not just the two-comma club, but the three-comma club as well.

Source: Realty Times

Renovations that can Hurt Resale Value

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renovations that can hurt resale value

Some Renovations That Can Hurt Your Home’s Resale Value

While most homeowners are well aware that remodeling the kitchen or the bathroom can instantly boost the value of their home, they don’t take time to consider all the renovations they have done that are hurting the resale value. Spending a small fortune on an upgrade that you and your family might enjoy could have a huge negative impact when it comes to selling your home. Here are some of the top home renovations that can hurt the resale value of your home:

Adding a New Swimming Pool

The idea of tearing up the yard so the kids can have a pool to swim in all summer is an investment many homeowners make. It is not unusual to think this can help with resale value as having your own pool is considered a luxury. Contrary to that belief, the addition of a swimming pool on a property only appeals to a very small section of potential buyers. In almost all circumstances, the money spent on having a swimming pool installed will not provide a return on investment when selling you home.

For many home buyers, they are not willing to take on the investment and upkeep of a pool. The loss of the raw space in the backyard is only seen as a negative. The only potential buyers interested in a home with a pool are those with children of a certain age, a very limited buying circle. It is true that even with children, every family doesn’t see the value in a pool. If you must have one, an above-ground pool is an option. At least with an above-ground pool, it can be taken down for minimal costs and the yard can be restored. If you decide to take the route of an above ground pool, it’s important to remember the costs of putting the yard back to its original condition will be incurred when attempting to put the home on the market.

Converting a Garage to a Gym

One of the things many real estate agents will tell you can sink a deal lightning fast is when the potential buyers discover the homeowners have converting some of the living space. The biggest culprit, transforming the garage into something like a home gym or man cave. To the homeowner, they don’t mind leaving the car in the driveway at the expense of having a workout room or place to watch NFL games on Sunday away from the rest of the family.

Future home buyers might not agree with your reason to convert the space, and many walk away from deals for this one reason. If you must convert the garage, do so in a way so that potential buyers can quickly and easily return the location back to a functioning garage. For many people searching for their next home, a garage is an important aspect of a new house. For many families, the garage acts as the place where will you keep all their holiday decorations, workbench, and vehicle in the inclement weather. Unable to house their car or store their items, potential buyers simply move on to another listing.

Big Beautiful Messy Trees

One of the things that many homeowners take great pride in is the landscaping around their property. Flowers here, bushes there, can really help transform the location and give it a unique and personal feel. Before you start planting trees, think about selling your home many years from now. Research the type trees you are planting because many of them can have a negative impact on the sale of the house when these trees are fully grown.

Trees that provide shade today, may become trees with leaves and flowers that leave the property a mess a decade from now. If the tree is just an endless source of leaves raining down on the property, it takes away from the appeal of the rest of the landscaping. If you are renovating the yard, try to stay away from sweet gum trees, oak trees, white pine trees, and locust trees. These trees are messy and will instantly decrease the curb appeal of the property years from now. The biggest concern, if the potential buyers wants to have them removed, it is a challenging and costly process. Consider blue spruce trees, crepe myrtles, or a red cedar tree instead.

Stunningly Beautiful Wallpaper

There are countless wallpaper designs that allow the homeowner to instantly transform the appearance of any room in the house. These designs can fall in line with the taste of the homeowner, so everything in the house matches a particular theme. When someone is searching for a new home, they want to imagine their family enjoying every room and making it all their own. Now instead of adding some paint colors to transform the interior, they have to first consider the costly task of removing all that wallpaper first. In addition to wallpaper removal being costly, it is extremely challenging to get off the walls. Some potential buyers see wallpaper as a major headache and might look at other homes for sale that are more move-in ready. The more rooms covered in wallpaper, the less it appeals to the taste of a potential buyer.

Textured Walls and Ceilings

Many homeowners want their interior to stand out from their neighbor’s and friend’s homes, so they insist on having the ceilings and walls textured to make the rooms completely unique. While the rooms are certainly memorable today, they could be problematic for potential buyers looking to purchase the house years from now. These textured additions are difficult to remove, causing many potential buyers to drop offers just because they need to set aside a bundle of cash to bring the house back to its former glory.

Think twice before transforming any room with textured ceilings or walls because this is a huge investment that will only decrease the value of the home when you want to sell. Real estate agents will tell you how buyers express immediate concern about removing the personalized look and wanting a more neutral decor.

If you considering making any renovations in your home, think twice about how it will impact the resale value, because you could be throwing away money today and well into the future. The short-term gain of customizing your living space could come at the expense of potential buyers not wanting to pony up top dollar because they will need to replace the work that was done.

Source: Realty Times

Tips for renting a car in the United States

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Tips for renting a car in the United States

The United States is a country that cries out to be explored by car, at your own pace. Here are some tips for you to do it.

The United States is a vast country that has a great diversity of landscapes, cities, monuments, and attractions to offer tourists. Its veins and arteries make up an immense network of roads that are capable of taking you across modern cities or the most deserted desert landscapes, passing through forests plagued by lakes.

Although, there are many American routes that deserve to be traveled with as much parsimony and independence as possible. So that you can do it, here we leave you these tips to rent a car in the United States:

Check that you have all the necessary documentation

The first step is to check that you have all the documentation they ask for when you try to make the car rental in the United States.

There is nothing more frustrating than arriving at the rental company’s counter and realizing that you have an expired driver’s license or your payment card is not valid. Although it is advisable to have an international driver’s license, it is not mandatory, so a valid national license should suffice.

Compare the prices of the different rental agencies

The car rental market in the United States lives in constant fierce competition. Although Premium companies – of higher quality, but also at a higher price – have historically been the most used, in recent years low-cost agencies have been making inroads into the market. Hertz, Enterprise, Avis, Europcar, and Alamo are some of the best known.

It is convenient to compare the different prices of the companies, be attentive to offers and packages – such as those that include flight, hotel, and rental – and choose according to the best possible quality/price ratio.

Choose the type of car you need

Before renting a car in the United States, you must be clear about the route you are going to travel.

It is a huge country, with very important landscape, climatic, orographic and urbanistic differences. For example, if on your trip you are going to travel through different urban areas, perhaps the best is a car of medium power and small size. However, if you are going to visit some of the great natural parks of the country, you may want a 4×4 or an SUV, of great power and capacity.

In Car Service to JFK, you can choose easily the type of car that suits you.

Get familiar with driving an automatic car

If you are used to driving a car with a manual gearshift, you’d better practice with an automatic one before renting a car in the United States. Most of the huge fleet of American rental cars are of this type. The truth is that it is not complicated to get used to and, once you have achieved it, it makes driving easier.

If you prefer to drive a manual car, you must notify the rental company in advance, so they can check their availability of vehicles of this type for the requested date.

Find out about insurance

The subject of insurance is always something that you must inform yourself with great thoroughness and, after that, choose properly. All car rental companies in the United States are going to offer you several types of insurance. Read their conditions and characteristics with care, and hire the one that best suits your needs.

Keep in mind that in this country any small mishap usually involves court proceedings that will consume a lot of time and money, so it may be advisable to include legal advice in your insurance.

Source: Realty Times

Tips To Find the Right Location for Your New House

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Tips To Find the Right Location for Your New House

Finding a new home may sound like an easy process, but it is certainly not since it demands to consider several important factors for a fruitful decision. One of those significant factors is a Location.

Yes, the location of your domicile can affect the quality and standard of your life. Whilst it’s simple to brush over the buying process, and emphasize instead on the design of your home, selecting the right location can make a huge difference.

Here are few things and tips to follow in making the right choice for you and your family.

· Where you want to be in?

The first thing, where you wish to set in? Whether you want to be in a city, rural area or suburb, decide and narrow down the research options accordingly. And the sort of setting you wish to live in depends on the kind of lifestyle you want to follow in your new place.

If you enjoy the hustle around, go for the city side. Suburbs are a popular choice among the ones who want to relish both worlds when it comes to peace and convenience. While rural locations are the best getaway for the families who need utmost relaxation from the everyday drama and buzzing world.

· What are your neighborhood needs?

This is another good factor to consider while finalizing a decision on your new home. If you have children or even plan to have in future, there are some Flats in zirakpur which are built on considering a school nearby that could be really helpful. Similarly, you can even consider buying a home within a close proximity to your workplace to avoid every day’s expensive yet tiring commutation.

· How distant your loved ones located?

Moving away from your friends and loved ones can actually hit you. So whilst you may be excited for a new change of location, it’s advisable to study how far away your loved ones are. You can find nearby locations to them if you think it would add to enjoy your new home.

· Who are your Neighbors?

Everyone’s worst nightmare could be having a bad neighborhood. You don’t want to move into your new abode only to enter into a war with those living next door. While exploring new areas, the foremost thing is to meet few locals around.

· How safe is the potential area?

Safety is the key and you need to pay extra care for this specific factor. For a completely happy and stress-free life, make sure to buy a home in a secured and safe society. Avoid the lots with a high crime rate.

In a nutshell, selecting the right location for your new home is as vital as building your dream home.

Wish you a safe and happy home!

Source: Realty Times

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