And, in case you don’t step outside of the hotel to see properties for sale, all the tourist brochures seem to be full of information about “how to buy a holiday home in three easy steps” and make lots of money from renting it out to other holiday makers or selling it at a huge profit.

However, buying a home abroad isn’t:-

1. As easy as ‘one, two, three’!
2. Means you incur taxes in the UK and in the country you own the property in.
3. The same as buying and selling in the UK.

It’s easy to get caught into buying abroad, especially when it’s so wet here! However it’s worth checking out the finances of whether it’s a good idea or not.

For example, I’m looking at buying in St Lucia. I want to buy for several reasons, I:-

1. Love St Lucia and the people and would like to be able to spend a month or more there.
2. Would enjoy renting the property to friends and family so they can enjoy St Lucia too.
3. Think I have found a way of buying land and building two properties and covering my costs by selling the other.
4. Want to be able to visit there for longer periods of time when I retire (a little way away yet though!)
5. Relish the challenge of buying and building a property abroad.

Why haven’t I bought yet?
I haven’t done it yet, despite visiting there five times in the last 10 years! Why? I don’t feel I’ve done enough research yet. Every time we visit we have a good look around. When I seriously decided it was an option, we then had to work out what we could afford and what we wanted – and where.

Where should I buy?
So we spent two holidays touring the island and getting to know each of the different areas from a price perspective, but more importantly from a ‘will we fit in with the locals’ perspective.

What we worked out is we don’t want a beach front villa; I’m nervous of a hurricane wiping out my home, so I’d rather be inland and have a short drive to the beach instead.

What should I watch for?
I also wanted to really understand how property ownership worked, what the pitfalls would be of buying in St Lucia – what if oil prices go up so much I can’t fly there? What was the government’s attitude to foreigners buying? I didn’t want to end up in the same situation as other holiday home owners have when they buy and then the government changes ownership rule or finds a reason to tear the property down, as they have in Spain.

Who can I rely on?
I also needed to get to know some locals really well so that I could have people I could trust to help me understand the rules and regulations. It also meant that I have people on the ground to keep an eye on the property, or do an emergency visit if needed.

Credit Crunch and Currency Exchange!
Our last visit was an interesting one. Sterling had fallen against the Caribbean dollar, so prices had effectively increased by 25%, even though they weren’t charging anymore for properties than the year before and there were some bargains to be had.

We did find a great property in a great area, and only for £100,000. We looked at it twice for some time. However, what we really learnt was that although this property would have been lovely, my heart lies in buying some land and building a simple Caribbean style hut or two and we want to live in an area where locals can afford to buy.

Cheaper to Rent?
We also found out something even more interesting. To rent a property for a month or two didn’t actually cost anywhere near as much as we thought it would. In fact at the moment, it’s almost cheaper and certainly a lot less hassle.

So, we’ve decided not to be under any pressure to buy and build as we know that if we don’t get to do it, we can still achieve pretty much everything we want and that although we’d compromise on owning our own property, we wouldn’t have any of the risks or hassle of owning a property so far away!

Read our Top 5 things you need to know about BEFORE you even think about buying a home abroad!

Kate is one of the top property experts in the UK and regularly quoted in the press including the Telegraph, Independent, Times, Daily Mail and Express, and has appeared on BBC2, as well as featured on BBC Radio 4 and a number of local BBC Radio stations.

Kate has also been a consultant to the property sector for a number of years and is the author of a number of books, including four for Which? – Buy, Sell, Move House, Renting and Letting, Develop your Property and the Property Investment Handbook.

Contact Kate Faulkner at http://www.designsonproperty.co.uk/

It is, by far, the most haunted neighborhood in Charlotte; even the main green space — Independence Park — is deemed to be haunted. It also has the distinction of being Charlotte’s first public park (1904).

‘Halloween Week’, they have a lighting of the pumpkins…all are welcome to set their pumpkins up on the stands and marvel at one another’s creations. Why not? Elizabeth can be spooky!

Elizabeth was developed in the early 20th century. Her mature trees create a gorgeous canopy over the streets; large camellia bushes show off beautiful blooms; homes and businesses mingle, woven tightly together by rooty sidewalks and its haunted tales of those that have gone before us.

The Elizabeth neighborhood is tucked in amongst the following: Randolph Road/4th Street to the Southwest; Independence Boulevard to the West and North; and a creek on its East. Two main avenues within this area are Elizabeth Avenue and 7th Street.

Along 7th Street there are numerous old houses that have been converted into shops, offices, and restaurants and small apartment buildings. Classics like Hawthorne’s NY Pizza and Bar, Loft 1523 (a cool Martini Bar), Philospher’s Stone Tavern and Carpe Diem are all lined up just waiting to take your order!

Then there’s The Cajun Queen, she’s supposedly haunted-either by the old owner’s maid or a lush (depending on who you talk to). It serves up an authentic taste of New Orleans food and Dixieland jazz and beer.

The Elizabeth neighborhood offers a rich selection of beautiful Victorian homes, bungalows and historical houses. Here, single family residential prices can reach over a million dollars, whereas a condo can be purchased for around $175,000 or so.

To be sure, this is an easy walking section of town. Close to the hustle and bustle of uptown Charlotte for nightlife, yet filled with it’s own neighborhood pubs, for those evenings when you’d rather hang out ‘where everybody knows your name’.

Centrally located, Elizabeth’s Independence Park is hidden a little below street level. It offers great walking paths, beautiful gardens, benches and statues. The true neighborhood side of the park can be found on it’s southern end. It offers peace, tranquility…and a beautiful rose garden.

And, then, there’s the northern end…the northern end offers plenty of activity! There are ball fields, courts, play ground equipment, and a track..it is also on this end, that Elizabeth Traditional Elementary School is located. The northern end of Independence Park is a fantastic spot to see a spectacular view of the city…especially good for watching Uptown’s firework displays on the Fourth of July!

Back in 1897, Elizabeth College, a small Lutheran women’s college , was here. It is how the area came to be known as Elizabeth. The college has since been replaced by Charlotte’s main Presbyterian Hospital.

Elizabeth’s speedy development occurred just five years later, in 1902, when the trolley line was completed…and then she was promptly annexed into Charlotte in 1907.

The neighborhoods population hovers around 4,000 today……..ghosts not included.

Claude Cross is Broker/Owner of Homes By Cross. Specializing in Charlotte NC Real Estate and Relocation since 1994.

Many veteran analysts are recommending that investors take advantage of the current economic slump top buy real estate properties. Whether for long-term or short-term, now is the best time to invest in real estate, one expert said. And he indeed clarifies his point: You can buy a cheap property today and hold on to it. Its value is likely to appreciate in time and you can sell it for a much higher price when that day comes. You can also make it your own home. When it comes to short-term investing, there’s flipping houses. Buy an undervalued property today, make some repairs to raise its value, and then sell it for a higher price in a short time.

Let us say you are now convinced, you are willing to cash in on the real estate market? What do you do? Buy properties here and there? Not so fast.

One thing you could do is to talk to investors or market analysts, if you know any. Experts in the housing and real estate investing can also help you decide if this line of business is for you. If you don’t know any expert, you can go online where you’ll find tons of free information about real estate investing.

For instance, you can check RehabList.com. The web site is considered an authority when it comes to real estate investing. Rehab List is on a mission to help all real estate investors learn how to flip a house successfully so they can replicate the process a thousand times over and make a great living investing in real estate. It has a robust database of products, tips, and tools for investors who want become a Rehab List partner. Joining the Rehab List network is a good way to launch you career in real estate, or perhaps give it a timely shot in the arm if it’s on a slump.

Starting investors probably want to find their own great real estate investment deals. RehabList.com promises to teach neophytes how to achieve this plus more, like learning who best hard money lenders are and how to use hard money financing when flipping houses. You will also learn how to hire great contractors, work with sub-contractors, and where to find these workers.

While you can always check new web sites sprouting here and there every now and then, it is always good to be trusting to the authority. It’s like building your foundation with the right blocks. You can start by reading articles from the web site’s Learning Center section located on the bottom part. You can also click the Free Investment Training Course link, which will allow you to read the “confession” of a wholesaler who made $200,000 in just 90 days. Starting in real estate investing has never been this easy, thanks to reliable online resources such as RehabList.com.

Web Reference: http://reiwired.com/about

When you finance an existing home, it’s easy to estimate the value of the property and easier for lenders to work out how much risk they will be taking on when lending you money. Once you agreed a price and exchanged on an existing home, then you can go ahead with the purchase, the lender releases the money and you move in and start paying the mortgage.

With a self build, you need to borrow money in stages. For example, initially you need to buy the land, then it may be several months before you clear the plot. The next stage is the ground works for foundations and drainage and after more months waiting you finally start to see your property being built!

As a result, many lenders will not want to lend on self build projects as it requires specialist knowledge and experience and it’s more work than a standard mortgage. So follow our three step guide to help you finance your property in the best possible way:-

Step One: Understand self build mortgages
Make sure you approach specialist and experienced lenders that will let you borrow money at each stage of the land purchase and build. Lending in stages often means that you can stay in your current property and carry out much of the build before you move into your newly built home as the costs of the mortgage start off with mortgage payments for the cost of the land, then a bit more for clearning the land and groundworks etc.

Step Two: Scrutinise the finance costs
Unfortunately you are likely to have to pay more for your self build mortgage, so it’s important to compare costs from different lenders. For example, the lending criteria and associated costs for self build mortgages are typically:-

1. 5% deposit for the land and build, providing that when you finish the mortgage is only 75% of the final valuation.
2. You can’t now secure a self build mortgage on a ’self certification’ basis.
3. Typical fixed rates for self build mortgages are around 5-6%.
4. Fees for securing the mortgage range from £1,000 to 1.5% of the amount you borrow.

You are also likely to pay a little more on legals and survey fees too, so it’s worth budgeting around £2,000 for these essential items.

Step Three: Find a lender that will be efficient and flexible on payments
When you are borrowing money in stages for building a new home, it’s important to make sure you work with a lender that understands you need your money quickly, in advance of each stage of the build. You also need to find a flexible lender that understands you may go over budget and need to re-negotiate an increased loan during the build. It’s no good working with a lender that takes months to make a decision. If they are too slow, you may lose your builder if you can’t pay them or might not be able to pay for essential materials.

Kate is one of the top property experts in the UK and regularly quoted in the press including the Telegraph, Independent, Times, Daily Mail and Express, and has appeared on BBC2, as well as featured on BBC Radio 4 and a number of local BBC Radio stations.

Kate has also been a consultant to the property sector for a number of years and is the author of a number of books, including four for Which? – Buy, Sell, Move House, Renting and Letting, Develop your Property and the Property Investment Handbook.

Contact Kate Faulkner at http://www.designsonproperty.co.uk/

When you finance an existing home, it’s easy to estimate the value of the property and easier for lenders to work out how much risk they will be taking on when lending you money. Once you agreed a price and exchanged on an existing home, then you can go ahead with the purchase, the lender releases the money and you move in and start paying the mortgage.

With a self build, you need to borrow money in stages. For example, initially you need to buy the land, then it may be several months before you clear the plot. The next stage is the ground works for foundations and drainage and after more months waiting you finally start to see your property being built!

As a result, many lenders will not want to lend on self build projects as it requires specialist knowledge and experience and it’s more work than a standard mortgage. So follow our three step guide to help you finance your property in the best possible way:-

Step One: Understand self build mortgages
Make sure you approach specialist and experienced lenders that will let you borrow money at each stage of the land purchase and build. Lending in stages often means that you can stay in your current property and carry out much of the build before you move into your newly built home as the costs of the mortgage start off with mortgage payments for the cost of the land, then a bit more for clearning the land and groundworks etc.

Step Two: Scrutinise the finance costs
Unfortunately you are likely to have to pay more for your self build mortgage, so it’s important to compare costs from different lenders. For example, the lending criteria and associated costs for self build mortgages are typically:-

1. 5% deposit for the land and build, providing that when you finish the mortgage is only 75% of the final valuation.
2. You can’t now secure a self build mortgage on a ’self certification’ basis.
3. Typical fixed rates for self build mortgages are around 5-6%.
4. Fees for securing the mortgage range from £1,000 to 1.5% of the amount you borrow.

You are also likely to pay a little more on legals and survey fees too, so it’s worth budgeting around £2,000 for these essential items.

Step Three: Find a lender that will be efficient and flexible on payments
When you are borrowing money in stages for building a new home, it’s important to make sure you work with a lender that understands you need your money quickly, in advance of each stage of the build. You also need to find a flexible lender that understands you may go over budget and need to re-negotiate an increased loan during the build. It’s no good working with a lender that takes months to make a decision. If they are too slow, you may lose your builder if you can’t pay them or might not be able to pay for essential materials.

Kate is one of the top property experts in the UK and regularly quoted in the press including the Telegraph, Independent, Times, Daily Mail and Express, and has appeared on BBC2, as well as featured on BBC Radio 4 and a number of local BBC Radio stations.

Kate has also been a consultant to the property sector for a number of years and is the author of a number of books, including four for Which? – Buy, Sell, Move House, Renting and Letting, Develop your Property and the Property Investment Handbook.

Contact Kate Faulkner at http://www.designsonproperty.co.uk/

Over the years, real estate investing has helped many people achieve their goals and fulfill their dreams. Despite the ongoing economic crisis, many people are still encouraged to take part in this lucrative industry. Well, who could blame them? With just a small capital, patience, dedication, and hard work, you can earn big investment returns and provide a good life for your loved ones.

Two of the most common forms of real estate investing is flipping homes and wholesaling houses. Although many people confuse one for the other, using each of them to make a living has its advantages and disadvantages.

Wholesaling houses is the act of placing a property under contract and then assigning that contract to a buyer, who will close the deal. Many investors prefer this type of real estate investing over flipping houses. It is because they can earn a considerable amount of money without making big risks since they are not actually buying the property. In addition, they don’t need to borrow money from lenders since they don’t need huge amounts of cash just to get started in this business.

A wholesaler usually earns $5,000 to $20,000 per transaction. If he has acquired contracts for multiple properties, then he can pocket a large sum of money. A disadvantage of wholesaling houses, however, is that he might encounter problems when selling the contracts that he has acquired. In addition, a property’s holding cost is expected to increase if a wholesaler can’t still find a buyer for the property’s contract after a certain period of time.

Flipping homes, on the other hand, is the process of buying and quickly selling a property for profit. Unlike in wholesaling, an investor usually spends a considerable amount of money on a property. He can either sell the house as soon as he acquired it or do some repairs and upgrades before selling it at a higher price.

Investors usually hit the jackpot if they manage to find an undervalued property in the best part of the city. With some repairs and little bit of sprucing up, they can earn big bucks because of the property’s new look and prime location. A downside of flipping homes, however, is that just because you have succeeded in your first flip, it doesn’t necessarily mean that it will always be the case. There are times that you won’t easily find a buyer for the property that you have refurbished.

Therefore, no matter which method of real estate investing you choose, always remember to educate yourself with the right knowledge and proper guidelines. Conducting some research and reading instructional materials will definitely help start your investing business on the right track. In addition, they can help you avoid costly mistakes.

You can also join the local real estate investing association or befriend your fellow investors. Interacting with like-minded people allows you to gain valuable tips that can help boost your career.

To improve your knowledge of flipping homes and wholesaling houses, you can visit RehabList.com. The web site has various resources, which include articles and instructional videos, that can be valuable to a real estate investor like you. Log on to www.Rehablist.com for more details.

Web Reference: http://reiwired.com/about

Buying foreclosed homes is a good idea as one can manage to get a good property by spending far lesser money than one will spend in purchasing a property in normal real estate market. Every investment has its pros and cons, and when it comes to real estate, you must be extra cautious and carefully see where you are putting your money and ascertain the profitability of the investment.

To make sure that you are making a sound investment, keep the following points in mind while buying foreclosed homes:

1. Extensive search: Conduct proper search for foreclosed properties on internet, newspapers, real estate magazines and foreclosure listings to find various properties to choose from. Government agencies and Housing and Urban Development also advertise various foreclosed homes.

2. Understand foreclosure laws: Laws governing foreclosure differ from State to State, so make sure you have a good understanding of governing foreclosure laws as this will ease out the transaction for you.

3. Once you have chosen the property of your interest, inquire if the seller accepts offer from unrepresented buyer or not. If he does not accept, then find an agent who has good experience in foreclosures to represent you.

4. Inspection of the property: Carefully inspect the property to ascertain its condition and amount of repairs that will incur. How well maintained the property is will be an important factor in determining the price you are willing to pay.

5. Negotiate the price: Remember that it is a foreclosed property that you are planning to buy, and the lender is eager to make good his loss suffered. This gives you the bargaining power. Inquire about the prevailing rates of similar properties and negotiate the price accordingly.

6. Also inquire about any liens or unpaid property taxes and who is going to pay for it, before you purchase the property.

7. Check the documents: Once the deal is through, carefully check the papers to ensure that you get a clear title, possession to property and that the property is free from all encumbrances. Consulting an attorney will simplify the process and ensure that all legal formalities are fulfilled.

Buying foreclosed homes is an excellent opportunity not only for investors, but also for first time buyers as a good property can be procured at really low prices. Usually foreclosed homes are discounted by 30 to 40 percent of the actual cost, which makes it a viable investment option. For more details please visit http://www.foreclosureconnections.com/

Years later and now that the country is in a recession, real estate investing is again picking up. Some still doubt whether rehabbing houses – which by the way is completely legal – is indeed legit. Authority web sites such as RehabList.com say there’s nothing wrong with rehabbing houses. Yet will doubt RehabList and other sources, saying this form of investing brings only negative effects.

Among their arguments is that it is leading to an increase in the number of homes fixed by inexperienced rehabbers. The rise in the number of renovated houses is also likely result in an increase in the value of property and eventually in the cost of living in that area, they say.

From another perspective though, flipping houses can actually result in a chain reaction of positive effects for the community.

First of all, it is true that an increase in the number of remodeled or renovated houses will raise the value of real estate property in a neighborhood. It could also lead to a higher cost of living. But that increase in expenses will be compensated by more funds for the local government and subsequently more projects for residents. How is this possible? Simple. Flipped or rehabbed houses will be get higher tax assessments and this will lead to more revenue for the local government from property taxes.

Based on what the police call the “broken window theory,” the more houses flipped by rehabbers, the lower the crime rate will be in that area. Under the theory, a piece of broken widow in an abandoned property entices vandals to break more windows. Before residents know it, vandals have already broken into the house and started using it for illicit activities like selling prohibited drugs or prostitution. If that house with a “broken window” is rehabbed, then it is saved from being a crime den.

Flipping houses can also spur economic activity in a neighborhood where many houses are rehabbed. Since crime is lessened, businessmen will be encouraged to open shops in a community. The pleasant appearance of houses – and the neighborhood in general – will make the area appear conducive to business opportunities.

In fact, the mere act of flipping houses already helps in an area’s livelihood problems. When you rehab a fixer upper, you seek the services of a painter, repairman, plumber, and other workers – giving locals additional sources of income.

Rehabbing houses will always be negative for non-believers. But for those who know the positive effects of this business – not only on their pockets but to the community as well – it will always be business as usual. If you still need more convincing, visit RehabList.com.

The web site has informative pieces on flipping houses and real estate investing in general. It serves as the meeting place for everyone involved in real estate investing. From buyers of fixer uppers, to sellers, to rehabbers, to wholesalers, to money lenders, you’ll find get something from RehabList. To avail of the free services RehabList.com offers, simply create a log-in account.

Shania Reed
Author of “Secrets Revealed”

Web Reference: http://reiwired.com/about

For potential buyers and investors, home foreclosures offer tremendous scope for making a profitable investment as the lenders are keen on recovering their loses as soon as possible, and hence sells the foreclosed properties at discounted prices, ranging from 30 to 50 percent lesser than the actual value.

For making the right kind of investment, it is essential to know about various available home foreclosures as a wider choice will help the buyer in making a sound decision. Proper research and adequate knowledge is a pre- requisite for buying foreclosed homes.

Following ways will help in finding home foreclosures:
1. Internet: Search online for foreclosure listings. Various enterprises dealing in real estate provide comprehensive foreclosure listings for home foreclosures. You can select the desired State and accordingly locate the property that appeals to you. If you are a real estate investor and will be dealing in foreclosed properties often, then subscribing to newsletters is a good idea.

2. Banks: In majority of the foreclosures that take place, the lender is usually the banks. So inquiring with banks about available foreclosed properties will help you in getting the most updated information.

3. Governmental agencies: Look up for Housing and Urban Development website to locate foreclosed properties in your State. Websites of various other governmental agencies are also a good source to get information.

4. County clerk’s office: When the lender forecloses a property, it has to be registered with county clerk’s office. So they have the details about all the foreclosures which have taken place. Contact county clerk’s office to locate available foreclosures.

5. Newspapers and Magazines: Look up in real estate magazines and advertisements in newspapers to know about current foreclosures.

6. Find a realtor: Realtor who has good experience of dealing in foreclosed properties will be the best source for getting the latest information on available foreclosures. Further, he will also be able to guide you on how to go about with purchasing the foreclosed property.

As a lot of home foreclosures are sold through auctions, it is very important to have updated information about the available foreclosures well before the auction date, so that you can register yourself in time. So make sure that you conduct proper search in finding foreclosed homes. For more details please visit http://www.foreclosureconnections.com/

Foreclosures for sale attract a large number of buyers as there are various benefits like prices are lower than the actual market rates, appreciation of property is enormous and the foreclosures are even available at lower interest rates. Considering the numerous benefits attached to foreclosed properties, it is considered a good investment proposition and real estate investors as well as first time buyers should explore this worthwhile investment option.

Following steps are involved in buying foreclosures for sale:

1. Research: Look for various foreclosed properties available through foreclosure listings on websites and classifieds in newspapers and magazines.

2. Contact the bank: Usually the lenders who foreclose the properties and sell them are banks, so inquiring with them about the available foreclosures will enable you to buy the property directly and this way you will not have to deal with any realtor.

3. Understand foreclosure procedure: You must gain an understanding of the foreclosure laws governing your State as this is crucial for foreclosure sale transaction.

4. Arrange finances: Check how much funds are available to you and how much more will be needed, and secure a loan accordingly before you proceed.

5. Determine your requirements: Be clear about what you are looking for in a property in terms of location, size, neighborhood, amenities and price you are willing to pay. Choose a property that best suits your requirements.

6. Inspection: Inspect the property carefully and calculate the repair costs which will be incurred and decide on the offer which you will make accordingly.

7. Making the purchase: Negotiate the price with the seller, and on making the purchase ensure that all legal formalities are complied with, you get a clear title to property and that there is no lien or unpaid taxes attached to the property. Hiring an attorney to ensure these compliances is advisable.

To get the best deal on foreclosures for sale, extensive research is the first and most vital step, followed by careful comparative analysis of various options available and choosing the most suitable property which will prove to be an ideal investment for you. For more details please visit http://www.foreclosureconnections.com/