Real Estate Open House Signs: Fill & Download for Free

A couple of truths beyond hype.Bangalore and most other major metros in India are in a massive bubble. The apartments are booked by speculators by the dozens ; by paying booking amounts and Vijay Mallaya style bank loans with no guarantees or income to support it.End users who have bought before at more reasonable rates of Rs. 50–80 lakhs have been paying up EMI’s at nearly 10% for last 10+ years. They have paid nearly 1.6 Cr plus for an apartment worth 80 lakhs and hence will not be able to sell below double the price.However, at these 1cr + prices, they have few buyers. Incomes are not rising as fast as the apartment prices. Median IT salary is roughly 8 Lakhs per annum. That means that the take home will be around Rs. 50k per month. This persons lifetime disposable income after taxes and living expenses is unlikely to go beyond 80 - 90 Lakhs. No bank will give out a 1.5 Cr loan to a person whose lifetime income is 1 Cr and repayment amount is 4+ Cr in 30 years (current 3BHK prices are at 1.4Cr).Builder in deep debt with extortionist interest rates. Builders have to take huge loans from banks at above 14% rates and that quickly triples in repayment amount by the time the project is completed. Most builders hence increase the prices early on to buyers to pass on that debt to buyers. So the pre-sale price is already a high price.Rental yields no longer cover even the interest amount let alone the EMI. The rental value is between 20–25K for a 3BHK apartment that works out to 2.5 - 3 Lakhs per annum pre tax. Your EMI for a 1Cr property will have a 10% interest component (compounded and effective rates). So you are burning 7 lakhs after renting it out and all 10 lakhs if you self occupy. The rental yields are just too small for the property prices to be justified.Fall of Bangalore : From a beautiful city in early 2000’s to a complete piece of crap, the city is junked. It stands no where compared to any major city in the world. The water is about to dry out completely and roads look like a war zone. Drains overflow with sewage openly flowing on the streets. While city administrators have failed to provide basic utilities, they have been on a roll with increasing valuations and extortionist taxation. One almost pays 20% in taxes and fees for these ridiculous 1cr+ valuations. It may not be a big issue for the city admins or the builders, that is a price the buyer has to pay and directly affects the buyers affordability.Dollar economy : India is now technically spending in dollars while earning in rupees. That means its cheaper to buy properties overseas than in Indian metros. NRI money is drying up from real estate. There simply no one left with the money to fuel the developer-speculator-babu nexus.In summary, Bangalore real estate has the buyers priced out. The property has simply moved out of reality to a point of no transactions. The city has very few transaction going on and sales / re-sales are not happening. I suppose its the same in most metros based on the reports.Lehman Brothers in the making:The most dangerous part of the Indian economy are the banking sectors. With the interest rates and lack of sales, the speculators will now have to cough up high EMI’s or default. The warning signs are all over the place. Be careful with your money. No one knows what will happen when shit hits the fan and all of them start to default. The bank NPA’s, all the bad loan issues, governments bail outs, and high taxes are covering up the fact that the economy is ready for a massive correction.Conclusion :No one is really buying apartments for last 3 years other than speculators. No one is buying and hence initial question that people are buying at any prices is false. The apartments are sold out in pre launch at 50% + discount to speculators to boost up the valuation and then try to con and fleece the end user. Let the stalemate between buyer and builder continue and lets see who blinks first. Market forces will eventually prevail.The 'Indian Flu', or Why the Crash of the Economy Is Imminent2018, the year real estate diedNo one quite knows where India’s housing market is headedTrouble in India’s Real Estate MarketIndian Real Estate Bubble – will it ever burst?Is India under threat of a real estate bubble burst? - FirstpostBanks reluctant to lend to realty sector on rising NPA: Survey - Times of IndiaThe big challenge of shadow banking in IndiaNPA issue: Banks to acquire lands, unfinished projects to recover $20 billion in real estate bad loansIndia's real estate is still a crime sceneResidential real estate sector in India: The moment of truth has arrived - RealtyCheck by Rajeev Bairathi | ET RealEstateBig scandal taking place in the name of real estate business: Supreme CourtCracking the whip! Supreme Court gives big shock to real estate major Amrapali for playing fraud and dirty gamesHomebuyers accuse Ireo MD, accomplice of Rs 10,000 crore fraudAccused Of Billion-Dollar Scam, Gurgaon Realtor Yet To Face Police ActionHedge fund titans who bet big on Indian real estate now say they were scammed

First, start saving as much money as you can.Second, get your credit scores anove 620. Two out of three should suffice, but the higher, the cheaper your mortgage will be each month.Start watching properties on redfin and zillow. After a month or three, you’ll inevitably see a “deal”. What you want to look for are structurally sound with a good foundation type of buildings that need repairs and remodeling. Hire three inspectors for the same house and follow them around making them teach you how to do it yourself. Use the best of the three until you are competent.Try to get a FHA 203k loan, and then hire contractors to fix the place or do it yourself if you’re handy and can learn from youtube videosMake it immaculate, and have a designer make a great flyer, and make sure you have really well lit photos. Have your open house, and advertise however you want, just be consistent and make sure you have a FOR RENT sign with the price clearly stated on it.Get the best tenants you can. Have a realllly strict application so that all the bad tenants won’t come back - let the application scare them away. If you can legally discriminate, do so. Example: “we rent to students only” if you’re in a college town where the local populous consists of students and meth heads.Go above and beyond in all ways that will minimize your future work. When tenants ask for something that would be nice to have and is reasonable, do it. A few years of this and you may never hear from the tenant all year or longer, but you’d still be collecting rent.Don’t be a pushover. When rent is due, it is due else a late fee applies. Make this work automated and easy for them like having a place to pay online. Sign up with a service that will report to credit bureaus, it will help your tenants out, but give them the final choice whether they should be reported or not before renting to them.Learn basic accounting and real estate tax law. Use depreciation to lower your taxable income, ideally you’ll have enough to chip away at the taxable income you make at your job.Flip a house and use the profita to pay a handyman his whole year salary, leaving you time to shop for more deals.If your tenants are tech savvy kinda folks, make all your homes “smart homes”.As soon as possible, get a trusted contractor that will do all these repairs under your supervision, for you dont have time to continually fix up the houses yourself. (You may need a few before that becomes feasible).Always buy in areas that, after the repairs, your house will be worth just below average the price of homes and rentals in that area, ensuring that you will have tenants, even in the event of an economic downturn, whereas the luxury places will hurt.You dont need to be an agent or an accountant or an insurance rep etc., but you will need all of them on your team. You are the investor, and they have their functions and are on your team.Little things like christmas cookies etc. go a very long way in keeping tenants. Be nosy but not intrusive, talk to all the neighbora and make them your friends. They just might tip you in on your next deal, which is great. Remember Monopoly the board game? Before you startes building houses and hotels on your land, you had to buy adjacent properties to each other. Get a good deal wherever, but try to concentrate them if you can. You’ll have more influence on the future of that area if you own a large portion of it.Use the 1031 exhange if you are gonna sell and buy more, and defer it to infinity until you have all the other assets and income you need, then donate the property with all the accrued taxes to charity, so it will be a write off and youre not obligated to pay those deferred taxes anymore.Read WILLIAM NICKERSON’S “How I Turnes $1,000 into Five Million in Real Estate in My Spare Time” and Leigh Robinson’s LANDLORDING.Pm me with any questions

We all have our reasons for why we got into real estate. For some, it’s the freedom of not having a 9-5 job tying us down all week. For others, it’s a true passion for helping people find their next home.Of course, binge-watching HGTV probably won’t give you an accurate picture of what being an agent is like. There’s a lot more to the profession than driving your crispy-white BMW to show a beachfront condo to your well-dressed, all cash buyer.life as a real estate agent usually isn’t the same as on television, you can still expect it to change. Here’s how:1. The way you view neighborhoods completely changesOnce you become an agent, your perception of geography changes completely. What used to be just a neighborhood you drove through turns into individual houses that you’ve shown or open houses you’ve attended.2. You learn to negotiate better than a foreign diplomatIf you aren’t confident in your negotiating skills when you first get into real estate, you will be after you get through a few transactions. Negotiating can be tedious and stressful, but it’s not a skill that you can’t learn.3. You develop a radar for any real estate conversationNetworking is critical to becoming a successful real estate agent, and every agent’s ears perk up when they hear anyone discussing anything to do with real estate. While skilled agents can work their way into the conversation and turn it into a lead.4.Your relationship status changes to “In a relationship with Real EstateIt’s true that you can maintain very healthy relationships while working as an agent, but it’s also true that you’ll feel like you’re in a relationship with all of your clients too. And sometimes that relationship can be a challenging one.5. Your car turns into a mobile officeOnce you become an agent, the car you use to get from point A to point B all of a sudden becomes a mobile real estate office filled with lawn signs, paperwork, coffee cups, and flyers.6. Your week is no longer divided into weekdays and weekendsThey say that when you become an entrepreneur, a Sunday doesn’t feel any different from a Monday. This also applies to real estate. Of course, weekends can be somewhat different for agents because of open houses, so while friends are going to concerts or eating brunch, real estate agents are busy working.7. You become really good at mathYou don’t need to be a math whiz to become a successful agent, but you’ll get really good at it the longer you stay in the business. Mortgage payments, tax bills, and commissions constantly need to be calculated.8. Your destiny is finally in your own handsMany agents worked a “regular” job before making the jump into real estate and dreamt about the ability to make their own hours and control their income. Once you’re finally doing it, you might forget what motivated you to begin the journey.9. You learn never to assume that everything will go according to planIf there’s one thing you’ll learn when you become an agent, it’s that nothing ever goes according to plan. Short appraisals, surprises during the inspection, financing issues – very few deals are easy these days.10. You become the resource for all of your friends’ and family’s real estate questionsOnce your friends and family know that you’re an expert, you’ll get all sorts of questions about real estate. When people start calling you regularly for advice, you’ll know that you’ve finally come into your own as an agent and that your life has changed forever.