With the turbulence of the stock market, people are interested in a solid safer growth of money rather than slow growth or high risk fast growth. Instead of saving all your income and using it for your post-retirement life, you can invest your income in a judicious manner to multiply it and earn much more from it. Buying investment properties is a hot option for that kind of a plan. Investment property is a property that is not occupied by the owner, usually purchased specifically to generate profit through rental income or capital gains. There are lots of convincing reasons for you to realize the benefits of investment properties.
Buying a property investment is where you make a small investment into a property, typically one still being built, which is known as an off plan property and then go on to rent it out to get good dividends, and then once raised in price, you can sell it to gain a profit or to purchase more property.
No investment today offers the stability and simplicity along with the excellent returns offered by investing in property. The stock market can offer high returns, but it is a very volatile and unsteady place. This is especially true for non-professionals and there are so many external factors that can effect your financial investment. Not to mention the fact that the major stock markets have generally been underperforming and property investment stands head and shoulders above other forms of investments. There are a lot of options when it comes to investing in property, as you can choose the option of investing in commercial property such as industrial/offices, hotels, apartments, retail shops and the list goes on. It can be a residential property; you can buy it and sell it at a higher rate for capital gain or rent it for regular dividends.
Property is now the wise investor’s weapon of choice. No other investment allows you to purchase with other people's money (Equity partners) and then pay this back with other people's money (the rental income from tenants), and hand off the day to day operations to a qualified property management company. Also, if you own a property, you can release equity against that property. Although there is no guarantee that states that your property will increase in value year on year, it is accepted that a well maintained property in a reasonable area will appreciate in value, because as rents rise, so does the value of that property to an investor who may want to purchase it.
Here are some points which are sure to make you flabbergasted about the profits of investment properties:
50% of individuals mentioned on The Times Rich List made their money through investing in Property.
A property worth just $15,000 just 30 years ago would be today worth around $300,000.
Equities or Stocks can be volatile, as with the .com crash, whereas a property is historically stable.
It is well documented that on average the value of a property doubles every 7 years.
As a Main Line REALTOR, I have had the opportunity of showing clients the benefit of investing in a property. I have taught them the value of working with a property management company and that it is imperative that you remove the emotion from the purchase and look at the property as an investment vehicle. The common misconception is that property owners are landlords, and that is simply not the case for many educated investors who put together a solid management team.
Branding involves the use of creating symbols that potential fans or "targets" will associate with you or your product.
Those symbols, when combined and attributed to your brand, are then known as your brands identity.
Personal Branding is reflected in everything you do or say as a business owner or REALTOR. The pictures you take, your signatures, your name, logo, interviews, logo art and anything audible or visual should all be taken into consideration when developing your brand identity.
If your business brand is still young (under five years), be careful of everything you do or say in public.
Build your own brand Identity - don't let the public do it for you. Compare your brand, to the branding of a musical group. Recently, Arctic Monkeys sold over 300,000 using only the internet to market their music. Arctic Monkeys came out of nowhere with their CD "Whatever They Say I Am, That's What I'm Not". Arctic Monkeys got lots of free press but not the kind they would have liked. News articles and radio features about Arctic Monkeys all said the same thing -"we don't know who they are or what they stand for". Well that's no way to build a brand.
With all of the free press Arctic Monkeys have received you'd expect them to be on every American teens lip's. Not so. Most American Teens don't even know Arctic Monkeys exist. Arctic Monkeys allowed the press limited access to their brand and the press did what they do best when the details are missing - they fill in the blanks with speculation.
If you are a young business brand don't let this happen to you. Tell the public what to think and say about you through press releases and brand building activities.
Let your brand account grow before you take deposits out of it.
With branding, consistency is builds equity. Once you have built your brand identity and start to get some good attention, leave it alone and let it create value for you. Consider your branding efforts as putting money into an interest generating account like a 401K. The more you put into the same account the more interest you'll get. The more interest you get the more money you'll get. Get it?
It took me years of wondering if my website name was too hokey. As a Main Line REALTOR in Pennsylvania, I coined the phrase and website, AskTheBigGuy.com. Partly because I am a “Big Guy,” but also because I dreamed BIG, I thought BIG and I wanted my business to be BIG! Over time, people grew to like the name, the fact that it was unique, and easily memorable. After a few years, people began to remember it like they remembered a cool piece of music or a hip new coffee shop….in other words, I grew a “fan” base. Now people call me out as, “Hey, it’s the Big Guy!” I even had a person call me five years after I sold their friend a property. They didn’t remember my name, but they remembered my brand!
Of course, much like artists and musicians who change their brand identity often, you won't have much success establishing a solid brand identity and will have a much more difficult time getting people to remember who you are or why they should buy your brand.
What you are shooting for is brand presence.
To have brand presence, you'll need to pick a target market, you'll need to build the associative symbols that represent your brand, you'll need to handle your young brand with care, you'll need to limit where and how you market your brand, you'll have to tell people what your brand symbolizes, you'll have to invest in your brand and let it grow for you without changing it.
As you follow the steps above you'll see your brand grow and give you a return on your investment.
Buying rental properties can be a great way to build your wealth. However, as in most real estate investments, it is sometimes difficult to know if you've found a good deal - especially the first time, and if you aren't working with a good property management company. Here are some things to look for to be sure that rental is a great investment.
Location. If traffic is heavier, rentals are easier to rent. A sign will often pull more response than an ad in the paper. If it is a nice locale, it will usually rent faster. This is also true of places close to amenities.
Numbers. Run the numbers. Get every last expense figured into your calculations, and be sure that you will have positive cash flow from the start.
High home prices. Look in towns with high home prices, as this creates rental demand. What do people do when they can't afford to buy? They rent.
Low maintenance buildings. Avoid cedar-shake roofs, and wood-sided buildings. Look beyond current expenses to how much maintenance the building will need. Low maintenance means less headaches and more profits.
Good rental history. Ask to see the rental history. Note how long residents are staying on average, and how well they pay on time.
Below market rents. Buying rental properties with below-market rents means you get to raise rents. Raising rents means you immediately raise the value, because rental property values are based on income.
Complies with zoning and fire codes. Have it inspected, and ask local officials if there are any problems.
Less than 20 years old. This is somewhat arbitrary, but if you limit your search to newer buildings, you will be less likely to have building code and maintenance problems.
Owner/manager that is out of state. These properties are often the best deals, because it is tough to manage a property from far away. An out of state seller is often more concerned with a quick sale than a high price.
Neighborhood is stable or improving. Stable is okay, but if you can buy in a neighborhood that is improving, you'll rent the units more easily, and therefore get automatic appreciation in value with time.
And of course, have in place a good property management team in place. They can reduce your headaches, and keep you out of the landlording business!
Have you ever gone to an event or party, expecting one thing, only to be completely surprised and changed by the unexpected? Well, that is what happended to me last week, and I thought it would make a good blog post.
During my weekly meeting at the Spring-Ford Rotary, a member of the Pottstown Rotary would come in, pitching for us member to come see Billy Staples, and hear his baseball stories. Now, I like baseball, but I am no die-hard fan. Of course, having the Philadephia Phillies win the 2008 World Series did make me more of a fan, but again, I am no die-hard. My client however is a coach for the Villanova University baseball team, so I thought, a signed book might not be a bad idea for a gift, right?
I was pretty set on trying to make it out so I could get this gift for my client. Part of me wanted to skip it as I wasn't feeling that great, but something kept tugging for me to go. As I finished dinner, I brought dinner to my wife who was sick with the flu. I decided to put our twin girls to bed, so I took them upstairs, looking at the clock and thinking I was running out of time to make it to Pottstown. Do I get two easy diapers to change? Of course not. Yuck. And my one daughter has really bad diaper rash, so out comes the pastey white Desitin, and I am trying like heck to get it on her, and of course I am getting it on my black pants. Now I am thinking there is no way I can go out in public looking like this. I washed my handes, rubbed the pants clean as best as I could and decided that late was better than never as I walked out the door.
I was lucky that I got up there in good time, and it worked out well, since as I walked in, dinner was almost over and Billy Staples was getting ready to speak. Mind you, I have NO idea who this guy is, what his book is about, or even what he looks like. Yet I am fortunate enough to be personally inroduced and seated at his table. I sit back and prepare to hear what I think are baseball stories. Was I in for a surprise.
Billy gets up, and he does start off with a few baseball stories. If you have ever heard him speak, you know he is very good at getting the audience's attention. Well. Billy starts to tell us why he wrote the book, and how he came to be a teacher in one of the worst projects near Allentown PA. For the next hour, I am blown away at hearing about where he teaches, and how he brings inspiration to kids who may not live to see their 30's due to drugs and violence.
From his website, let me use his words to describe what I found out that night:
"Bill Staples was born and raised in Phillipsburg, New Jersey, where he spent all available hours shooting hoops and listening to country and pop music. He spent three years at Phillipsburg Catholic High School, where he played varsity basketball and baseball and starred in a few school plays.
All through his childhood and teen years, Bill had the priviledge of spending time in the Phillies, Mets, and Yankees clubhouses. Among many other Major Leaguers, Bill got to meet Joe DiMaggio, Whitey Ford, Mickey Mantle, Yogi Berra, Pete Rose, Mike Schmidt, Willie Mays, and Tom Seaver, each of whom took the impressionable young man under his wing. These were experiences that never left Staples.
After his high school graduation, Bill spent two years at Northampton Community College and received his Associates Degree. During that time, he played varsity basketball and was heavily involved with the theater program. Bill also spent time in Los Angeles and New York pursuing an acting career. Along with other roles, Staples had a small part in the movie "Hairspray" starring Rikki Lake and played a news reporter in the movie "Gremlins 2". However, his favorite role was a younger version of Peter Falk's famous Lt. Columbo in a touring dinner theatre production.
Eventually Bill took a corporate sales position with AT&T Communications at the company's world headquarters in Basking Ridge, New Jersey. While this period was a financial success for Staples, his life changed forever shortly after he saw the movie "Dead Poets Society," Starring Robin Williams. Inspired to become a teacher and make a difference, whatever the financial sacrifice, Bill left the corporate world and enrolled at East Stroudsburg University. He graduated from ESU with a degree in education-secondary English-and the end of the following year, found himself teaching at Northeast Middle School in Bethlehem, Pennsylvania.
In many ways, Staples came into his own as a teacher. His goal was to use the various talents and contacts he had developed over the years to reach his students and make them really want to learn. Whether it was jumping on desks to underline a point, imitating TV and movie characters in class, or quietly showing up at every sporting event and dance recital his students were a part of, Bill immersed himself not just in teaching as a job, but in teaching as a mission.
In 1996, Staples introduced a new method to motivate his students. In return for perfect attendance, good grades, and outstanding behavior, Staples took his students to meet celebrities, including Michael Jordan, Derek Jeter, and Puff Daddy. The idea behind the trip wasn't simply to get an autograph. Instead, Staples required his students to ask the celebrities a question about their experiences growing up. The program was a hit, and not just because the kids enjoyed it. The celebrities enjoyed it too, and connections were being forged on a personal rather than a superficial level.
As word of the program spread, the media picked up on it and did not let go. It started with feature articles in local newspapers. By 1998, Staples had been nominated for the Disney National Teacher of the Year Award. A second nomination followed in 1999. Then in October 2003, CNN did a five-part feature on Staples and the students whose lives he had helped turn around.
About the same time, Staples experienced probably the most memorable and influential meeting of his life. After a few intense hours with Jack Canfield, author of the Chicken Soup for the Soul book series, Staples was inspired to accomplish two additional goals.
First, he set out to help pay for the college education of any Bethlehem high school student serious about contributing to society and needing financial assistance. This was an ambitious goal, but as the philosopher Goethe once said, "Act boldly and mighty forces will come to your aid." Those mighty forces turned out to include local businesses and Staples' dear friend Linny Fowler. In 2004, CAPERS of the Lehigh Valley, Inc. was founded. In 2005, the United Way was so impressed, the organization decided to support CAPERS. To date, the organization has sent over 70 financially challenged students to college without a single dropout.
The second goal set in motion by the Canfield meeting may have been an even longer shot, but it too has come to frution. Last year, Health Communications, Inc., publisher of the Chicken Soup for the Soul series, published Bill's first book: Before the Glory. The book is a direct outgrowth of Staples' relationship with some of the legends of the national pastime and his many years of helping shape the lives of students positively. The book was released in June of 2007 and sold out of its first printing reaching as high as number 5 on the national sportsbook charts.
With the publication of Before the Glory, Staples has begun to spread his message on education to a national audience. But he remains as accessible as ever locally and hasn't let any of the success get to his head. In reflecting on the past several years, Bill sticks religiously to the same quote: "I had help.""
I came that night to hear baseball stories, and left with a totally different message! I was drawn that night to meet Billy because I needed a dose of inspiration! I highly recommend you pick up and read a copy of his book, as all the proceeds go to his charity work helping these kids. You can visit his website at www.BillyStaples.com.
Paoli, PA, March 25, 2009 - RE/MAX Main Line - Paoli is pleased to announce that REALTOR Christopher Benedict, also known as the "Big Guy," has received his real estate broker's license for the Commonwealth of Pennsylvania. He will continue to specialize in residential and investment property sales in the Montgomery and Chester Counties, while expanding his property management services into parts of Delaware County.
"I am excited that Christopher has taken this extra step to acquire additional knowledge to deliver positive results in today's challenging Philadelphia and suburban real estate market," said Stephanie Benedict, Chris' wife and business partner. "Chris is a positive, confident REALTOR who puts people before profits, and strives to offer the best services to his clients."
Thom Toole, Broker of Record, of RE/MAX Main Line Real Estate is thrilled to announce that Christopher Benedict has just received his Brokerage License. "Chris has been a leader in the office and affords all his clients professional service both in Real Estate Sales and Property Management."
"The whole point in obtaining my Brokers License was to be able to offer our clients the highest level of customer service with knowledge and experience," said Christopher Benedict. "We at www.AskTheBigGuy.com put an emphasis on growing and part of growing involves learning and continual education."
Benedict just successfully completed extensive training and licensing through several learning options, including Polley & Associates in Newtown Square, as well as taking several intensive online courses through CareerWeb.com. To complete the Broker Course, you must be a fulltime agent for a minimum of 3 years, have completed 40 plus transactions, as well as complete all required courses. To sit for the state exam, Benedict had to complete 240 hours in courses that includes training in real estate law, management and commercial brokerage.
RE/MAX International Inc. (www.REMAX.com) is one of world's largest residential real estate sales organizations, with over 100,000 agents in over 7000 offices. 2009 RE/MAX International Inc. RE/MAX Is A Registered Trademark Licensed To RE/MAX International Inc. An Equal Opportunity Company. Equal Housing Opportunity. Each RE/MAX Office is Independently Owned and Operated.
As the housing market cools, homeowners are looking to renters to fill their unsold homes. Many of these owners have little or no knowledge about being a landlord and the legal issues it entails. Philadelphia suburban REALTOR Christopher Benedict is seeking to help those dubbed, "accidental landlords" by offering free advice and tenant placement.
Paoli, PA (PRWEB) 5, March, 2009 - Rather than kick homeowners when they're down, RE/MAX Main Line REALTOR Christopher Benedict offers to aid the "accidental landlord". These are people who cannot sell their personal residences and are seeking to rent their vacant or unsold properties. Home owners can find more information or contact Mr. Benedict through his portal, http://www.ThisAgentWorks.com.
As more properties remain unsold, owners are becoming landlords by accident, many of whom turn to property management companies or real estate agents, rather than deal with the headaches of being a landlord themselves. While agents can find the owners a tenant, once the lease is signed, the owners are often on their own. These newly minted landlords often have little or no knowledge about tenant-landlord law, fair housing issues, or local ordinances.
Most real estate brokerages charge a fee for tenant placement. Property management companies charge a tenant placement fee, and then take a portion of the rents as commission to manage the property for the owner. Neither of these options may be suitable to a distressed owner. That is why Mr. Benedict is offering to assist in tenant placement fee-free, so more owners can afford to take advantage of having their property properly managed. This is an ideal situation for owners on a tight budget who are dreading the thought of dealing with tenant issues.
For additional information on the news that is the subject of this release (or for a sample, copy or demo), contact Christopher Benedict or visit http://www.ThisAgentWorks.com.
About RE/MAX Main Line REALTOR Christopher Benedict: Christopher Benedict coined the brand, Ask The Big Guy in 2001. Something of a maverick on the ritzy Main Line, Christopher is developing a network of young, high-energy professionals who share his "Strength In Numbers" philosophy. Christopher Benedict specializes in working with investors, as well as continuing to provide real estate services for buyers and sellers on the Main Line and the greater Philadelphia region.
Contact: Christopher Benedict RE/MAX Main Line - Phoenixville, Paoli & West Chester 610-935-3200 http://www.AskTheBigGuy.com
I wasn't to surprised to see the following article in the The Philadelphia Business Journal. Titled, "Too hard to sell the house? More turning to renting." Due to an influx of just too many homes on the market, it is this Main Line real estate blogger's opinion that sellers are artificially deflating the market. Not surprising, when owners can't sell their homes, they are turning to renting instead. Many hungry agents, snapping at too little money, are turning their business to renting homes instead of selling them.
From the article: 'From Tredyffrin to Gladwyne, homeowners who have struggled to sell their properties are finding that renting is an alternative in this sluggish real estate market.
While it has been more common and relatively easy for Center City developers who constructed unsold condominiums to make the switch to rentals, the trend has stayed at bay in the single-family market. In the last few months,that's changing as "for sale" signs have been replaced by "for rent" at hundreds of single-family homes throughout the region. Chester County has 355 houses listed for rent and there are 533 in Montgomery County, according to the Multiple Listing Service. Delaware County has 232 listed.
The abundance of houses on the market for rent has created a new phenomenon in the housing market: Competition among homeowners who are trying to get their houses rented.
"There used to be so few homes for rent that you were lucky to find anything habitable," said Lavinia Smerconish, an agent with Prudential Fox & Roach. "Now people are seeing rental as an alternative to selling at a number that is under value for the house."'
The only surprise from the article I came away with is that it shocked me to hear a Main Line real estate agent say that to rent homes they are now staging. Staging a home is not cheap, and even if a home is renting for $10k a month, a $3000 - $5000 staging bill doesn't seem to appetizing to me. I would tell more homeowners, if you want you home to rent, listen to the market and adjust your price!
As a Main Line Realtor and Property Manager, one of the issues I also have with the current market is that I am concerned about so many "new" landlords. Being a rental property landlord is not easy. There are so many rules and laws to follow that homeowners could be breaking local ordinances and not ven know it. For example, one of them being a local rental permit. I know for a fact in Lower Merion township and Radnor township that they are cracking down on where students are renting. Many Realtors don't know about these student-rental restrictions and are not advising their clients properly. Long after the commission is paid and the tenants have moved in, it is the homeowner who may be stuck appeasing the township!
Words of wisdom: If you need to rent instead of sell, seek good advice from a property management company who will not only fill a rental, but manage it as well.
"Meet our new property management team - RE/MAX Main Line and the BENEDICTS. About the Benedicts: Both Penn State graduates, Christopher(pic below) and Stephanie Benedict currently manage a $20+ million dollar portfolio of properties ranging from single family homes, multi-unit investment, mixed commercial, as well as small apartments ranging from 6-20 units. A licensed Realtor and (soon to be in March 2009) Broker-Associate, Christopher currently works at RE/MAX Main Line as well as managing a private real estate investment firm, The Benedict Investment Group, LLC. Christopher and Stephanie both reside in Collegeville with their son and twin daughters."
Nestled in one of the most sought after areas in Villanova, this "2005 Landscape Design Award" winning home will surround you with peace and tranquility. Soothe away your stresses as you walk amongst the kitchen garden, listen to the babbling fountain or enjoy bird watching in your "Backyard Wildlife Habitat" as certified by the National Wildlife Federation. Upon entering this home, your senses will be surrounded by luxury as you are taken in by the grand curved staircase in the oversized foyer. Built in 2000, this light-filled and elegant home has every creature comfort you can expect from a Main Line manor, including a sun room and library, fully finished basement, and sky-lit 3rd floor au pair suite complete with kitchenette. End your day with a soothing bath in the owner's retreat, complete with a master bedroom, multiple walk-in closets, vaulted ceiling master bathroom, sitting room and bonus exercise room. This Lower Merion Township home is just minutes to Gladwyne, the shops of Bryn Mawr or Wayne, the R5 trains, I-476 and I-76.
Christopher Benedict, Realtor RE/MAX Main Line Visit: http://www.askthebigguy.com/ 610-935-3200 (office) 484-433-3931 (direct cell)
A fantastic opportunity awaits the right buyer with an eye for all the potential this home has. This home is well maintained, with hardwood floors throughout, and not one but two fireplaces.
Close to shopping and transportation, this home is nestled amongst similar homes in a well kept neighborhood. Well manicured lawn with many mature plantings throughout the property, and many mature trees in the back yard.
This home has strong bones, an eight-year-old roof, and has been lovingly maintained for many years. Bring your decorating ideas, and see how much his home has to offer.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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