EVERYONE IS LOOKING FOR AN INVESTMENT OPPORTUNITY BUT
WEEKEND SATURDAY JANUARY 21, 2006
EDWARD HARRIS AT LARGE
EVERYONE IS LOOKING FOR AN INVESTMENT OPPORTUNITY BUT
MOST OF US HAVE A WINNER LOOKING IN OUR DIRECTION!!!
As we come to the home stretch in the first month of this New Year, I will dedicate my two remaining articles which include this one to identifying two business opportunities that will give everyone a shot at turning dreams and wishes into reality. It is said that if wishes were horses, beggars would ride. But it should be instructive to note that beggars can change their course from rags to riches and this is not only by winning the lotto. It is just the will to change. Request my E-Book at Email: NoFreeMoney@gmail.com and learn about the power of affirmation which is a technique for transforming lives.
Everyone wants to have financial independence but few individuals will the take time off to look around them to identify the business opportunities just staring them in their faces only that they cannot spot them, simply because they are not looking in the right direction.
The opportunity I wish to direct you to is Real Estate which I consider to be the most secured investment today and if we would be fair to ourselves, in our small island states, over time it has consistently yielded high returns on investment. Persons with cash reserves should seriously consider investing in real estate at this time. Prices are going to rise sharply over the next two years. This is the time to buy and hold. The Real Estate landscape will never be the same after Cricket World Cup in March/April 2007. Already foreign real estate companies are positioning themselves in St. Lucia. St. Lucian Realtors should be forming Alliances with European Realtors to capture business that will result from the ARC Atlantic Rally in December, 2006 and follow up with CWC in 2007. It could well be a Gold Rush.
While investing in real estate could be very attractive, businesspersons should resist the temptation of investing working capital or making mortgage commitment that could adversely affect their cash flow. Only invest personal savings or surplus cash from the business.
The time has come for individuals and entrepreneurs to take a professional approach to investing in Real Estate. Planning is very important. Persons seeking to acquire residential properties should schedule an interview with their Banker to find out what level of Mortgage Finance they would advance them to acquire a property. Do not just approach the bank where you have your account, shop around for the best mortgage rates. Get from the Bankers you propose to do business with, their approved list of Valuers. In some cases persons may wish to acquire the land as a first step and build subsequently, in others they may wish to acquire a property that is fully built up. Whatever route you take be sure to get your financial position sorted out first with your Bankers. Know how much money you can commit to spend.
You must be clear on a few things before calling on a reputable Real Estate Agent. Where would you like to own your property? What type of property are you looking for? Bungalow or house on pillars? Concrete or wooden building or a combination of both? Easy access to commercial area and social amenities, etc. You need to make appointments with at least two reputable Real Estate Agents who would be pleased to show you properties that fit your needs and give you the necessary advice. Everyone should see acquiring property as an investment. Property in built up community will sell faster or developing well appointed communities. New developments could be very good investment if you go in early build and offer for sale. It is very likely that some persons may be interested in living in the area would rather like to do without the hassle of building. You can start your real estate investment cautiously and gain confidence as you go along. Do not invest in isolated communities. If you plan to move, look down the road and try to ascertain where you would like to live in the next 5 to 10 years. Don’t just build because you have the land, build where you can add value to your investment. Leave the sentimental aspect for later in life when you may wish to return to the community where you grew up.
Do not hesitate to make a business decision on your property if you discover that you are having problems with your mortgage payments. Many people hang on to their property much too long before making a decision to sell only to have the bank foreclose on them and they loose everything. Timing is everything. Don’t be sentimental, be business like, after all it is an investment. If you take timely action, you are very likely to walk away with some profit given the cost of construction today. Always get a valuation done on your property before approaching your Realtor for his opinion. There are many considerations that could add value beyond the actual value of land and building. Location and the availability of lands in the area could be a factor for added value including if your area was upgraded from a residential zone to residential and commercial? Talk with people with real estate experience including Realtors. Ask the question – how much can I get for my property and now that you know what can add value beyond its actual valuation demand answers from your Real Estate Agent. Place your property with as many Realtors as possible. Resist the temptation of Exclusive Agreement. If you decide to give an exclusive demand that the property be placed with other Agents.
The challenge would be very shortly to find good building contractors that are available. As a result there is a real opportunity for construction companies to get involved in housing developments and even offer other real estate services. I feel there is need for Real Estate Companies that will offer a suite of services to Develop, Build, Buy, Sell, Rent, Manage and as a bonus to offer Mortgage Advice. With such a Company operated by a group of reputable persons, investors in real estate could do so with greater confidence. A company with the right level of investment will do very well to develop lands in joint venture relationships with land owners who are unable to develop infrastructure to be able market lots. There are many opportunities in this area of activity.
Real Estate investing is for everyone. It is your God given right to own property.
Next week I will introduce to you a global business that anyone with internet access could take control of their life by achieving financial and time freedom.
Keep the faith, God is in charge!
Edward Harris
Email: slupitons@yahoo.com