- Get your accounts in order
Most lenders are happy to give mortgages to self-employed people who have been trading for at least three years and have two years accounts or self-assessment tax returns available. However, if you are unable to get three years accounts you may still be able to get a mortgage.
- Speak to an accountant
Lenders prefer borrowers to employ an accountant to prepare self-employed workers’ accounts. Some lenders state the accountant must be certified or chartered – so bear this in mind when choosing one.
- Make sure your credit is good
Make sure your credit is good and that you are permissible to be lent to. Determine how much you can afford and put your finances in place to allow you to get the maximum lend.
- Understand your SA302
An SA302 or a self-assessment tax return is the equivalent of a P60 for an employed applicant. It provides the yearly income of the applicant. Since 2012, self-employed applicants are being asked for SA302’s by nearly all Mortgage Lenders. SA302’s provide lenders with a strong indicator of the affordability of a mortgage that is to be offered to the applicant or borrower. Speak
- A lifestyle of luxury and exclusivity. Living within a Private Gated Community, is sure to transform and upgrade your lifestyle significantly. Exposure to many luxurious amenities and scenic landscapes is enough to convince you of this change. There is also the added benefit of being able to access these particular facilities at your own time and leisure, giving you a sense of exclusivity.
- Standards of security and privacy. One of the most valuable benefits that it offer to you and your family is the assurance of a safe and secure environment, 24 X 7.
- A healthy and clean environment. Guarded against pollution and noise from the outside, your environment remains clean and healthy. A plethora of greenery also adds to keeping the air you breathe pure and fresh.
- A feeling of belonging. An extremely important aspect of living amongst people in a gated community is the sense of community you develop, with one another. When you stay in a gated community, you will be not only the owner of your plot, but also the owner of entire layout, the amenities it has. Hence, you will treat each one of the amenity as your own and take good
- You need considerable funds to start
This is one of the most common misconceptions in the real estate industry, you don’t need to be swimming in funds to invest in your first property. Banks don’t only look at your balance to approve your funding, they look at the potential profits of your deal as well. The more appealing the deal is the more likely you will be to get your funding, however, you don’t need to rely on just your banks there are always private money lenders who’d be willing to help out if you check out.
- The numbers are too hard
These days there are plenty of software options in the market to do the legwork for you, you just need to know your figures and the software will compute the rest for you. The rest just boils down to you being able to interpret the figures to make informed decisions when it comes to your real estate needs.
- Most commercial properties are advertised
Contrary to popular belief most of the available commercial properties aren’t listed in newspapers nor will you find any bandit signs advertising the properties of your desire. You will need to
Keep your money exactly where it is
Don’t move around a lot of money. Keep it in a particular location as it is not always wise to make any type of huge purchases or mover a lot of money around. Your lenders must be reliable all you and they must trust you. This can be possible only when they know that you have the required amount of money.
Get you home loan pre- approved
Nothing fruitful can come to you by leaving things for the last minute. Thus you must get a pre- approval for your home loan. This is not at all a difficult task. The whole intention of this particular task is to provide the lender with all the important information related to you. This can give him a fair amount of idea about yourself.
Don’t speculate or try timing the market
This is an obsession that many real estate investors go through. Never try to do so because it can lead to a lot of problems in future. Timing the market is a mistake and a one that can obviously be avoided. It is also quite impossible to time theRead More
Rent To Buy
Rent to buy is an excellent route into property ownership for many people with bad credit. The rental period will prove that you are able to handle the monthly payments for a year or more, which will make it much easier to secure a mortgage on the house when you are ready to buy.
Furthermore, every rent payment becomes equity in the property, which means that you essentially pay your deposit while living in the home. Only having to deal with the current homeowner in many cases is also an added bonus, as they can treat you like a tenant rather than a homeowner.
Research Federal Mortgage Programs
Many people actually qualify for federal assistance in securing a mortgage and may not even realise it. Speak to a qualified real estate agent and they will be able to let you know if your current situation means that you are able to take part in a federal mortgage program like the ones offered by the Veteran’s Administration or the Federal Housing Administration.
There are also a number of state-wide and local programs that also offer assistance to those who are tryingRead More
Geographic or market; suitability; and economic feasibility. Some buyers search for vacant land by geographic area, based on the locations of their projects, places where they have a comfort level from past experience, or municipalities in the path of future growth. Others search for land parcels based on the number of potential building lots or types of buyer markets they want to reach. These could include age group (e.g., first-time buyers, empty-nesters), price range (e.g., entry-level, luxury housing), and life or housing style (e.g., gated communities, townhouses).
However builders define their target land parcels, they have to sift through many properties before finding one or two sites worth pursuing. Then they evaluate the suitability of the property for their intended development. Issues that are investigated typically include the availability and accessibility of public utilities, the current zoning, and challenging physical features of the site such as floodplain, slopes, and wetlands.
Builders evaluate the property and analyze the deal in the context of these questions. As they obtain more information, the answers can change or even prompt additional research. What does not change is the builder’s focus on these threshold issues because they relate to the bottomRead More
The use of wood on green homes contributes to reduced embodied energy. This type of material which is usually used on walls and floors can also reduce the operating energy consumed in each day. However, more modern green homes capitalize on utilizing sustainable and renewable energy sources to run lights and other electricity-using appliances in the house. If you are to look into newer designs, there are green homes that have solar panels, biomass systems, and hydroelectric-generating features. Expensive as they may seem but you’ll be surprised that the federal government as well as some private groups and NGOs are actually giving grants and assistance to fund such alternative electricity-generating systems to be installed in green homes. On designs – insulations and high-performance windows are increasingly becoming popular choices too.
The earth is being depleted of its water resources. High volume of water goes into waste each day because of inefficient water systems in regular homes. Leaking faucets, toilet flushes, pools, and shower heads all contribute to the deliberate wastage of water. Green homes eliminate these problems by imposing water-efficient and water-saving systems such as the installation of rainwater recycling facilityRead More
The only thing with finding this type of real estate is the high prices you may find. Because real estate prices have skyrocketed in recent years, the price of a single family-owned home may be higher than you want to pay. However, there is a way out. You can actually find single family-owned properties cheap. Yes, you can practically get one that is a steal. How is this possible?
There are actually many ways you can get single family-owned homes. If you do some research and careful digging, you can come up with a few resources. Here are some resources you can try that have produced leads for other real estate investors:
- Fixer-uppers – One way to find a cheap single family type property is by contacting local construction companies. Investors don’t realize that construction companies work closely with real estate agencies, sellers, and even the city or town where you live. They have friends in places you wouldn’t be able to contact. They can find out about what properties are being sold, or about to be sold, and where the properties are located. Don’t be afraid to stop and ask the manager of a construction
- Price and costs: While most want to live, in the nicest house, they can. and proudly, show – it – off, to their friends and family, what good is buying a home, if it makes your life, more stressful, etc? Objectively, and introspectively, consider, the impact of reducing your other assets, because of the amount of your down – payment. Will this create stress? How much are the monthly carrying charges, and can you, not only afford it, but do so, within your personal comfort zone? Do you have the necessary reserves, for contingencies, including; short – term employment gaps; necessary repairs; desirable renovations and/ or alterations, etc? Don’t become, house – rich, but hurt yourself, in terms of stress, etc!
- Size and features: How many rooms do you need, and how does compare with what you want? What are your present needs, in terms of size and number of bedrooms, bathrooms, etc, and what do you anticipate in the short – term, and longer – term future? Are you ready, willing and able to maintain, and care for, whatever house, you purchase? Will you personally do the work, or will you hire someone else to do
Find the right buyers.
When selling a certain type of house, it only makes sense that you pitch it to people who would most likely buy it. People’s tastes in houses vary, so you have to pinpoint who are most likely to buy a minimalist house. Here are some of the potential buyers to look for:
- Art-minded people often prefer places where there are less furniture so they can paint or carve and do their artworks free from distractions.
- The young adults who want smaller homes because it needs little maintenance and costs less.
- People who love Asian architecture and interior designs since most many Asian homes are minimalist in nature. Zen home renovation, which features minimalist designs, is in demand among Asian homeowners.
Make good visual presentations.
You can’t convince people a house is good with mere words and description. The modern mantra is “see it to believe it.” Visual presentations like a 3D architectural visualization made with 3D rendering and 3D modeling software will convince people more than regular photographs. Because while people believe that ‘seeing is believing’, seeing in 3D and 360 degree visuals is better.Read More