News about Real Estate & Inspired Living In Puerto Vallarta
I recently sold a number of view lots in Upper Conchas Chinas and one of the wonderful clients wanted to move from his hillside panoramic view condominium to a new hillside panoramic view house. Since
Q: How did you guys wind up on House Hunters International? Our real estate agent Taniel Chemsian from Timothy Real Estate approached us initially about appearing on the show sometime in the summer of 2012.
Three Things to do next year in July in Puerto Vallarta It’s hot but more than that, it’s humid. Can you survive it though, that’s the question. We have spent many Julys in Puerto Vallarta
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About the 2018 Vallarta Real Estate Fair Our theme this year will be humanity and diversity among people, highlighting important values such as equality, compassion,
I really can’t tell you how many times I’ve been asked the question: Is this a good note deal? So, first, let’s consider why people ask this question. I think it’s because they want to hear your response or opinion of what a good note deal actually is. Although I’m honored that those who ask me value my opinion, I don’t want to do them a disservice by giving them a simple “yes” or “no” answer. Besides, what’s a good note deal for me isn’t necessarily a good note deal for someone else. When a real estate investor, who’s getting started in notes, asks me about a note deal, I try to explain my take on it by relating it to a real estate deal.
So, What Makes a Good Real Estate Deal?
At first, sometimes it is hard to tell, or to know, if you have a good deal until you get some experience. Let’s look at real estate, for example, there are several areas of a deal where you can make money:
- The buy – When I first started in Real Estate, I paid close to retail like most people, who are just starting out. Today, I would usually only buy properties from motivated, or distressed, sellers. Another way to find a good deal on the buy, is finding a discrepancy in fair market value or a property in lesser conditions.
- Rehabbing the property – Although heavy rehabs tend to be more profitable, sometimes you can find properties that don’t need as much done and that can be turned around quickly. If you have experience rehabbing, you may also have more knowledge of what everything costs. Another skill set that can give you an advantage, besides creativity and the ability to rehab a property, involves managing contractors.
- Management –Were your estimates accurate? Did you come in under budget? Did you finish the rehab in a timely manner? If you’re using private money, the longer the deal takes, the more it will cost you.
- Shopping for financing – The time and effort it takes to find financing, as well as the type of financing you find, can affect the profitability of your deal. For example, private money is usually cheaper than hard money. Also, people with good credit get better terms.
- Foresight – Your level of foresight can go a long way. For example, there was a property I paid retail for ($65,000), but I saw potential to build a commercial garage on an adjacent lot. Now, the property is worth over $200,000.
- Marketing – If you’re skilled at marketing, you will get the property rented or sold quicker than someone, who’s not skilled at marketing.
Any of these things can turn an okay deal into a really good deal.
I remember when my cousin and I were investing in similar types of properties; he always had to get a great deal on the buy side because he can’t change a light bulb. I, on the other hand, I had a few advantages. For one, I was a …read more
‘House Hunters International’ Charity Auction and Raffle One of the most incredible things about being involved with the House Hunters International Charity event is the
After months of hard work, we are delighted to officially announce the launch of our new website. We hope visitors to timothyrealestategroup.com will find a