Question by silver_platinum_trek: Untitled mobile home on newly purchased property?
My parents bought the property next to theirs last week, the owner died, and her mother sold them the property super cheap, on the property is a double wide trailer, the seller said her daughter stopped making payments and when she tried to go to court to make arrears no one from the company she was buying the trailer showed up.
The seller claims her daughter tried repeatedly to and each time no one showed up (this was over 6 years ago and since then no one has showed up to claim the trailer), anyway, the property was sold “with all buildings on property”, which included the trailer, but my question is what can my parents do to ensure they can keep it?
They are retired and just wanted an investment, they want to move in to the trailer and rent out their property (they’ll make more money this way) but don’t want to be left out the cold should the mobile home company come and take the trailer away and wouldn’t want to rent to someone and one day have them be thrown out!
I know above I mentioned the seller claimed no one has showed up for the trailer in over 6 years with no payments being made, but I remember about a year and a half ago I was visiting my parents when my mom mentioned the neighbor was upset because someone had showed up trying take the trailer.
What can my parents do to get ownership of the trailer?
Thanks in advance!
Best answer:
Answer by the tax lady Your parents don’t own the trailer. The people who sold them the property didn’t have clear title, so they couldn’t sell it–and the wording of the title does not override this.
Contact a local lawyer or even just go by a trailer seller and ask them the names of the major players. Your parents need to get the trailer repossessed or buy it themselves from the lender.
The best property investment advice you can receive is to always consult those who have experience or specialized skills in property investment.
The property market is a popular way to create a tidy nest egg for retirement but it is not just a matter of buying a property and selling it later down the track for a healthy profit. There are tax considerations, properly location, and tenant selection, not to mention cash flow projections before any decision is made. Despite the large number of reports produced by the media, property investment should be a carefully constructed professional strategy that takes into account your personal needs and goals. For example, buying property via a Self Managed Superannuation fund can be an extremely tax effective way of investing.
In other words, it is not just simply a matter of deciding when to buy an investment property based upon interest rates. There are so many other considerations it would be foolish to generalise one way or the other as to whether it is a prudent decision to borrow money when rates are high or low.
On the one hand, if rates are at an all-time high, it could be argued that the upward cycle may be over and that the downward trend is likely to follow. Similarly, when rates are low, it could be argued that the cycle is about to move into an upward trend. It is self evident that no one can predict the future of interest rates with any degree of accuracy as has been demonstrated over the last two years.
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There are always areas growing in values despite rate cycles and putting of investing due to rates being 1% higher and then purchasing a property for 15% greater cost in 2 years time is not a wining approach.
Economists offer differing opinions almost every day of the week with varying degrees of accuracy but more often than not in conflict with each other.
In the property market, professional investment strategies are not based upon such a simplistic approach however. The hallmarks of a good investment strategy include the following
Your ultimate long-term financial goal.
Analysis of your income and likely changes over the foreseeable future.
Short-term financial priorities, including things like children’s education expenses or overseas holidays.
Understanding your risk profile.
Taxation and estate planning.
Investigation of property purchase options including in-depth analyses of locations throughout Australia highlighting past trends and possible future market directions.
Arranging flexible and appropriate finance packages to suit your strategy and cash flow.
Regular reviews of your situation and adjusting the strategy accordingly.
Using superannuation wherever possible to minimise taxation and to augment property investment purchases.
A professionally designed investment strategy will not only incorporate all these issues but will also give you the peace of mind you need to move forward. In many cases, a worst case scenario is used as the bottom line for future plans so that any unforeseen circumstances such as interest rate rises will not catch you off guard.
Once again, it is clear that in order to plan successfully for your financial future, you cannot rely on one or articles in the media or from anecdotal evidence provided by your friends or family.
The most successful property investment strategies only come after consultation with industry experts who carefully plan and monitor your plan to fruition.
Direct Property Network (DPN) provides clients with an end-to-end property investment solution from selecting the right property, all the way through to settlement and beyond. We help clients establish affordable and profitable investments by researching and sourcing wholesale property.
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Have you ever noticed how buyers flock to purchase property in droves when real estate prices are at their peak, yet buyers are relatively scarce when prices are most affordable? Notwithstanding the fact that this occurrence defies the generally accepted investment strategy to “buy low and sell high”, one can’t help but wonder why attending social gatherings during the real estate boom years of 2005 and 2006 would inevitably lead to engaging in a conversation about someone’s real estate investment and the promise of future profits to be derived from the venture. It’s not all that surprising that many of those recently boasting about their real estate exploits have softened their tone while seasoned investors, dormant for the past six or seven years, have begun to once again start purchasing lucrative investment property. Despite news about the recent real estate and financial industry tribulations that the public is seemingly bombarded with every day, the last few months of 2008 provided a relatively quiet, yet dramatic, surge in real estate sales.
The National Association of REALTORS® (NAR) has reported that residential home sales have increased by an astonishing 115% when the last quarter of 2007 is compared against the same period for 2008. Have the experienced investors purchasing all of this property been ignorant to the steady stream of media reports warning of declines in real estate values? The answer is no, they have simply been waiting for the right time to emerge like a small swarm of locusts to steadily reap houses for sale like crop. In fact, their buying presence has been so prominent that national housing inventories of homes for sale have significantly decreased during 2008’s final quarter, a reliable sign that demand is beginning to once again catch up with supply.
But how do these brave souls know precisely when they are buying at the bottom of the market? Do they throw caution to the wind and simply force themselves to muster the courage to purchase property despite the fact that values may continue to decline in the future? The simple answer is that savvy real estate investors do not purchase property with the expectation of immediate appreciation in value. Rather, investment real estate should be purchased based on the property’s potential for positive cash-flow. Positive cash-flow occurs when a property’s rental income exceeds the owner’s costs to maintain the property. Consequently, when a property provides a positive cash-flow, a decline in real estate prices is of little concern since the owner can simply enjoy the income his property generates until the market revives and the property can be sold for further profit.
During the real estate boom years our nation became blindly infatuated with the appreciation of real estate prices, which represents the amount of value that a property will gain over time. So called house “flippers” brazenly leveraged money to buy numerous properties with the expectation that their values would increase, thus enabling them to sell the properties for handsome profits in a short period of time. These novice real estate quasi-moguls, often addicted to HGTV and other television shows created to promote the industry like Flipping Out and Flip This House, regularly failed to consider property cash-flows prior to making their purchases. Why bother when real estate values will always continue to appreciate, thereby alleviating the need to hold properties for long? After the housing bubble burst, many of these speculators realized that they shouldn’t have built their investment houses out of sticks, and social gatherings became pleasant once again.
Seasoned investors build their investments out of bricks by carefully and conservatively analyzing a property’s cash flow potential prior to purchasing. The primary reason that these investors have been sitting on the sidelines for many years is that most real estate prices have been far too high to generate positive cash-flows and a reasonable return on investment. It hasn’t been until recently that both residential and multi-family housing prices have retreated to levels where rental income will cover monthly mortgage payments and other operating costs. Further, with the construction of new housing and apartments decreasing to a virtual halt, a still rapidly growing local population, and many families displaced from foreclosed properties, an investment property’s owner is free to choose from a tenant base that is now stronger than ever. One can clearly see why a decline in real estate sales prices typically accompanies an increase in monthly rental prices.
No matter what the year 2009 holds in store for real estate investing, it is essential to remember that investing in real estate should always be considered over a long term. Although the opportunity for a “quick flip” may present itself, the distinguishing benefit to sound real estate investments is their ability to provide income no matter what the economy throws your way.
So you’re getting ready for retirement, and you’re asking the all-important questions, including what to invest in. The topic of investment properties can be a very overwhelming one, especially if you have no idea where to start. Working a life time to support your family and to save up for the future can have you caught up in the actual work for so many years, that when it is time to finally take your money and put it to use, it can leave you overwhelmed.
Retirement living is rapidly become a very popular life style choice for today’s individuals. There are all kinds of individuals who have taken up their retirement living, while others have put off their retirement. So what is retirement supposed to be all about? Most people decide to lead their life of retirement by living very frugally. Others want to be part of retirement communities or villages.
The whole goal is to be able to spend your retirement years according to your own wishes and desires, in terms of everyday living.
Most individuals will select a retirement life style as a personal choice, and not because they may feel deprived. Good retirement living on a very balanced and reasonable budget is possible, granted you know where to go and where to look. There are all kinds of retirement options available:
1. You are able to live overseas in a sailboat.
2. Living abroad.
3. Acquire a compact living space.
4. Live in an RV.
5. Relocate.
The options above are only a few that have been tried by many. Relocation may be the most chosen one out of the above preferences. The second option is to live abroad, overseas. Both of these options are more or less the same as choosing a different locality to live in.
Majestic Property lets you invest in your retirement property with confidence. This is because your services are personalized. Customized investment strategies are utilized, allowing you to create your own future of financial wealth and security. This is done showing you a step by step system, which has been proven to help you understand the process. This enables you to be in the know and be able to make an educated decision. This will be based on where you are at this time and what your future goals and aims are.
You’ll be able to experience a wide range of services including:
Joint Ventures with other professional services.
Thorough and detailed property analysis.
International property is also available. This helps to diversify your portfolio.
Tax reductions and why this is a key element in building your wealth.
Getting the right loan for your home.
Reduction of debts, and strategies that help you to pay off debts quicker.
Management of risks and helping you to build a balanced portfolio in less time.
A lot of our clients have very busy lives. They have to work, raise a family, and juggle other activities. Our process is simple enough to allow you to purchase real estate assets on a continuous basis. There is very little time investment required for this. Give us a call and find out more today.
If you are moving into Retirement and looking for a way to spend your money, consider buying Investment Properties. There are a number of properties around Melbourne to invest in.
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is an old age money making formula, which despite the economic downturn of the previous years is seeing a comeback in the future. The past few years have seen a lot of people investing in properties, which are slowly beginning to yield results in terms of income. However, if you have not yet invested in any kind of real estate, you need not fear as you can do so now, provided you follow the following principles or rules of purchasing .
Firstly, it is important to understand that where the property is for mere investment, chances of paying more than required for the property is possible. In order to avoid such higher payments for property, it is important to develop a network, which will help you understand the market and ensure that you pay the right price. An ideal network is one that comprises of builders, realtors, attorneys, other investors and local real estate professionals. These are people well versed in the field of and can guide you in making the perfect investment.
In addition to creating a network of useful contacts, it is important to study and understand the property market. Study the trends over the past years as well as the current and predicted trends before actually finalizing or thinking about any . In addition, you should also be aware of the various policies announced by the government for purchasing such properties. It is pertinent to note that all such trends or policies are dependent on the location as well as the type of you want to purchase. The development, presence or lack of it, will affect the actual value of the property, in addition to the possibility of future development, if any. Therefore, these factors should be considered before finalizing any property for investment purposes.
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Personal finances are the next most important step to be considered before investing in real estate properties. It is imperative that you are sure of the kind of money required as well as the amount in hand or available at short notice, before you finalize a property. Approaching a bank or financial institution for a mortgage approval in principle will help in paving a smooth way for purchasing any .
Taxation policies for properties in a particular area along with the need for repair or renovation of the property in question should be considered before purchasing any property. It is important to understand that taxation policies will ultimately affect the returns from the property, which could either be positive or negative. Moreover, if a property is high maintenance prone or requires major repairs at regular intervals, then it is definitely not worth investing as the cost of maintenance will exceed the income accrued, resulting in negative cash flow. Therefore, all these factors should be considered before signing on the dotted line.
Lastly, maintenance of the property should be considered before investing in such properties. Even low maintenance property requires someone to be in constant touch with the tenants to ensure that there is no problem incurred. You can either handle maintenance issues on your own, if you have the time and inclination to do so, or can hand it over to a property management company for a certain fee. The cost of the fee should be considered as expenditure while calculating the final cash flow.
Once all these factors are decided, then it is important to ensure that the property papers are drawn by a legal attorney and that all factors are properly recorded in the agreement. Also make sure that you read properly before signing the agreement.
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Real Estate Investor and Property Management Discussion Video Rating: 5 / 5
Question by Paris: How can I Own a home after I purchase a Tax Lien on a property in CA?
I’ve read and heard the following:
*If the owners of the property continues to not pay the property tax, All mortgages are wiped out? is this TRUE or FALSE?
* How can I own the property “Free and Clean” if the owner does not pay the property tax, and the home goes into foreclosure, he does not file bankruptcy?
*What about the other Liens on the property? Mortgage Liens?
* is this a good investment buying Tax Liens ( to potential become ownership)? free & Clear?
ONLY Real Answers please, NO negative remarks ..
5 points to best answer.
Real experience/professional preferred.
Thank You.
spelling error;
FREE AND CLEAR OF OWNERSHIP
Thank YOU!
Best answer:
Answer by glenn You will need a title insurance policy to assure you that you have a free and clear title.
In several states it will be six months or even longer that you have to wait after the auction before you can be sure it is your home.
Most people I know that “buy” these at auction intend to sell the tax debt back to the owners at a profit- and never intend to own the house. I don’t know anyone that bought a worthwhile house for a very low amount of money at one of these.
Know better? Leave your own answer in the comments!
Question by Expat_Investor: Reliable property consultant of buying foreclosed properties in Japan?
Hello Everyone,
I’m an Expat in Japan for almost 5 years now. I find it interesting to buy a foreclosed property in Japan since I heard some good feedback from my friends who already bought property and they are now earning a pretty good return-on-investment.
Most of them suggested that it is wise to look for a low profile but reliable property agent company rather than a big real-estate consulting company that is composed of many employees. It is because you can get an advantage in terms of service fee. One of my friends told me that there is a company called “Mizushima Co. Japan Foreclosed Properties” managed by Akiyama who helped him in gettting a practical bidding amount and now he got the property from Nagano for a very cheap price. Can you imagine a 100sqm house and lot for just 1,640,000 Japanese Yen? He is very glad because he trusted this company even if they just communicated through email. That was really great!
I would like to talk to the owner of Mizushima Co. face to face to consult my property requirements and definitely get their assistance service. I got their email address and will coordinate with them this weekend. Is there anyone here also interested in buying foreclosed properties in Japan? Let’s share our ideas! Thank you in advance.
Best answer:
Answer by Lingo Professor I am also interested in buying real estate in Japan. I want to rent them out and earn passive income.
The earned income will be used for buying my own residencial house. Because, currently I’m renting an apartment for JPY 70,000 per month. If I can possibly buy a low-price apartment, I can save more. Furthermore, I had a bad experience in investing stocks.
So, If there is an opportunity to buy a cheap foreclosed property but with high yield, I will definitely invest my money. I think the usual profit of other than foreclosed properties can be up to 10 percent. But, I found a website of “Mizushima Co. Japan Foreclosed Properties” , and it seems there is an investor who successfully got a property with 25 percent yield. I’m also very interested to talk with the owner of this property consulting company. Let’s work on our investment adventures! Good luck to both of us.
Here is the website: www.japanforeclose.blogspot.com
Question by azntennisguy: What can I legally do to fight back a commercial landlord who discriminately declines us an option to renew?
My family purchased a Chinese restaurant business in a commercial shopping center about five years ago in California and our five year lease is up in August. The owner of the commercial property has not offered our restaurant business an option to renew our lease. We had already invested a couple of hundred thousand dollars in this business (including expensive computer and kitchen equipment), but as the end of the lease approaches, we’re scared that we can’t even sell the restaurant off even if we wanted to. I have spoken with the Asset Manager of the company that owns the property and he said that he cannot give us a long-term lease but we can pay rent on a month-to-month basis.
When I asked why couldn’t we get a long-term lease renewal, he originally said that they were going to do some remodeling on the entire front building complex (the building’s arcade) after our lease ends sometime while we’re paying rent on a month-to-month basis and then he said that we will need to vacate the premises once construction actually starts (he also said that he was going to give us a 30-day notice to vacate as well). But then I asked if we could get our original business location back after construction has completed… A moment later he said that there’s going to be a “70% chance that there’s going to be investment in the property” so that they can “change up the assortment of tenants on the property” towards a specific marketing concept where there will be select requirements for the new tenants: business income level, type of business, ability to pay higher rent, etc. I don’t exactly know what kind of “marketing concept” he was going for or even if restaurants were a part of that marketing concept equation’s composition.
It’s interesting to note that some of our family business’ neighboring tenants are also of Asian-descent, but they have about two years of their lease left. I just found it odd that they were targeting our mom and pop businesses and slowly try to get us out of the shopping center.
Can this company just kick us out like that? Isn’t there some sort of California Commercial Code that says this illegal? But more specifically (and what my family’s more concerned about), is there any way to make the company help us recoup our losses from having to find another location for our restaurant business?
Best answer:
Answer by STEVEN F They are NOT targeting you. They are getting rid of EVERYONE as soon as their leases are up, because they are legally required to honor the existing leases. NO state requires ANY landlord to renew leases. Any lose is an INHERENT risk of operating a business. You have NO claim. As it stands, you were given more notice than legally required. Find a new location BEFORE August.
Florida investment properties have become one of the most attractive and popular investments across the globe for the various opportunities that they offer to the investors. While investing in any property the investor must have understand and find out different aspects of the property and the benefits that can be gained. Although there are many interesting reasons why one should invest in Florida investment property, the most noteworthy features are worth discussing for anyone who is interested to invest in real estate in Florida. The benefits of investment in real estate are numerous. But you need to plan your investment carefully to get real benefit.
Increasing Price of Real Estate
One of the significant reasons that have attracted many investors of real estate in Florida is the growing price of the real estate. There are many reasons in the locality that have fueled the increasing value of property. People from other regions migrate to Florida for different causes. For longer or shorter stay in this area they require to invest in Florida investment properties. It has truly influenced the value of property. If you think of investing in the property right now, you can sell it to any other investor in future and get higher value for your property.
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Different Options for Florida Investment Property
Investing in real estate in Florida is not a difficult task for the various options available for the investors. Apart from land for building houses, investors can look for fully constructed houses, apartments, condos, etc. That apart, if you are looking forward to invest in real estate in Florida that you want to take in rent, you will be spoiled with choices. It allows the investors to compare between various options available in the area and select the best one based on requirements.
Opportunities for Lease Out
As it has been mentioned earlier, many people coming to Florida for longer or shorter stays look for accommodation in different localities of Florida. The seekers of accommodation look for Florida investment properties not only to buy, but also to take in rent. If you have your own property like house, apartment, bungalow, etc. you can lease it out for short or long duration and earn hefty amount every month. Many smart investors of real estate plan their investment and get regular profit through rent.
Easy Processing and Other Benefits
If you want to buy any kind of real estate in Florida, the most essential aspect of buying you will notice is the easy processing of everything. You can buy Florida investment property by taking loan if your financial condition doesn’t allow you to buy property immediately. Once you invest in property, you can resale it or rent it out whenever you feel the necessity.
The discussed reasons are enough for any investor to look for property in Florida. If you want to buy Florida investment properties of any kind, you must take proper care while looking for and investing in the property. It will lead you to a hassle-free process and save you from any future worries.
Michael Thomson is an author who writes interesting articles on Florida investment properties, property investment, and topics related to investments in real estate. For more information on property investment and Florida investment property, you can also visit www.myfloridaportfolio.com.
