High quality Kenya realtor advices right now from Robert Shumake? You can also join the Kenya Association of the investment group. Here you will even learn best practices from more experienced investors. You might even meet sellers who you can buy property from with no down payment. It is essential to have a board of trusted professionals in your organisation who will guide you in making the right decisions. This team will be able to steer your choices in such a way that you mitigate your risk. Some of the main people to have onboard include: Conveyancer – s/he is the person responsible for transferring property legally from one person to another Loan advisor – A loan adviser will help you decide on the most affordable loan options available to help you complete your project in case your capital runs out. Property Valuer – Will help you buy property at the right market price or even lower price contractor – A contractor will assist in drafting legally binding contracts with your tenants. Most people may see this as an extra financial burden, but this team will ensure that you do not incur over-inflated expenditures in your project.

Once you select a lender, you should speak with a loan officer as quickly as possible. At this point, there is one thing you should know. Pre-qualifying means absolutely nothing. All pre-qualifying does is determine the amount of the loan you could qualify for based on factors such as your credit, salary, etc. It does not guarantee that a lender will actually loan you the money. It’s more important to get PRE-APPROVED. Pre-approval means that your application has been submitted to a lender who is willing to extend you a specific loan amount, pending a property and appraisal. Being pre-approved lets you know that you won’t be denied for a loan, and it also provides you with leverage to negotiate the purchase price of a home with the seller.

Robert Shumake real estate tip daily: Expand your search. What if the location where you’re planning to buy is too competitive? You might be surprised at the gem you can find in a less popular neighborhood. Working with a real estate agent who really knows the area is the best way to find a home that fits your budget and lifestyle. Get preapproved ASAP. Getting preapproved for a mortgage before you go house hunting is a must in any market. But in a market with such a limited home supply, not doing this legwork ahead of time gives a preapproved buyer free reign to swipe the home you want right out of your hands.

Real estate investing in South Africa remains a profitable endeavour and a relatively safe way to build passive income streams. This is particularly true in the luxury property market, where rentals are increasingly a popular choice for families and individuals. Long-term value is the goal with investments like rental real estate, and once you get a knack for it, it can become incredibly rewarding. Whether you are a first-time investor, or if real estate investing is something you have been doing for years, we are here to assist. Here, we explore a few tips for anyone seeking buy-to-let investments.

You probably don’t have the same skill set as Joanna and Chip Gaines, but you might still wind up with a fixer-upper thanks to those inventory constraints. And that’s totally okay. What I’ve learned from buying real estate is that you’ll typically never be content with the upgrades previous owners or developers make, even if they were super expensive and high quality. So why pay extra for it? There’s a good chance you’ll want to make the home yours, with special touches and changes that distance yourself from the previous owner. Don’t be afraid to go down that road, but also know the difference between superficial blemishes and design challenges, and even worse, major problems. Especially this year, watch out for money pits that sellers can finally unload because real estate is just so very hot. Those properties that could never sell may finally find a buyer, and you might not want that buyer to be you.

Renovating increases the house value says Robert Shumake : Professional renovators always leave a contingency of between 10-20% to cover these costs and fully expect to have to spend it. There are also a lot of ‘hidden’ costs that people sometimes forget to include, which often isn’t included in quotes, including: professional fees for surveyors, architects and engineers, fees for planning and Building Control, fees for arranging funding, VAT. A lot of homeowners only discover halfway through the works that their plans are completely unachievable on their budget. So it’s essential to research prices in advance.

Engineered wood and concrete flooring has become popular modern alternatives to traditional solid wood for several reasons. Unlike solid wood floors, engineered woods and concrete flooring are composed of multiple layers of compressed timber, before being finished with a top layer of solid wood veneer. ooking for waterproof flooring? Waterproof flooring is ideal for any room – especially bathrooms, kitchens and mudrooms. When it’s waterproof, it’s worry-proof. See more info at Robert Shumake.