Despite global slowdown and the economic climate looking tough Cyprus investment property has not lost its sheen. There is no dearth of opportunities for investment in the country because there are many factors combined that make this location an investment opportunity supreme. Particularly at the present time.

The cultural ethos of Cyprus attracts and warmly welcomes visitors from all over the world and has expanded its airport to an international one to cater for tourists and investment from around the world. You can already see a mix of cultures here as people form all over the world are settling in to the country. More and more residential settlers from many nations are electing to live here voluntarily. This is because of the health service, taxation as well as a low cost of living. Added to a world beating low crime rate. On all fronts Cyprus is a great location! It is now attracting property investors in their droves due to the stability of the economy and the legal system.

One of the biggest selling points for Cyprus is that the majority of the local populace speak and understand English very well. This in turn has a huge impact on tourism and the demand for property. In many ways Cyprus is a reflection of a better world which we have lost in recent times.There are many ways in which this is a great place to live. Firstly there is still a climate of respect for the elderly, neighbours genuinely care about you, kids here are still civil and you can go out till late at night whatever your age and rarely if ever see any trouble. You can go out to Ayia Napa the party capital on the Island and be surrounded by up to fifty thousand drinkers and have a pleasant and relaxing evening. There are several other great reasons for living here but the best has to be that most people can even leave their doors open at night without being robbed. It therefore comes as no surprise that Cyprus has been voted the top destination in the world to retire by Ex pats, for all of the reasons above..

The economy of Cyprus is progressive and investment friendly! A large factor that I will like to point out that has made Cyprus a property investment hotspot is the 2004 declaration wherein Cyprus was given the status of a full member of the European Union. That is why there has been a heightened interest of real estate investors for Cyprus and the activities of buying and selling property have intensified here. This has resulted in Cyprus being one of the best places to invest in property globally in the last decade.

Another little known fact is that due to the economic slowdown on the property front there has never been a better time to buy or invest in property here as the majority of expensive as well as cheap property has gone down in price by up to 25% of what it was only less than two years ago. As a buyer or investor you can get a truly amazing property here with four to five bedrooms most ensuite, a swimming pool and a truly pristine primely coveted location for under 300-00 euros including marble floors and more. A bargain in anyones language!

From an economic stand point property investors can make some tasty profits here. Tourists spend no less than 7 months to a year in Cyprus and live in rented villas or apartments.The demand for rental villas is exceptional So, anyone owning a decent property in a good location can earn serious rental income. Secondly, if anyone wants to resell a property, buyers are easily available in the form of retirees coming from UK.

They’re often called recession-proof: steady investments that are inexpensive and easy to maintain with consistent profit margins. Not to mention, they’re an area of real estate that seems largely unaffected-if not helped-by current rough market conditions.

They are self storage units, and people always need them. And all across the country, with a growing population that provides a constant supply of people in transit and in need of storage, they’re shooting up everywhere. Self storage facilities require relatively low building and management costs.

Storage facility operators are capitalizing on a constant of modern culture: Americans own a lot of stuff.

According to the Self Storage Association (SSA), self storage has been the fastest-growing sector of the U.S. commercial real estate market for the last 30 years, growing into a $220 billion industry. The rate of growth, however, has slowed somewhat over the past two years.

A slow housing market can actually help storage facilities, according to industry analysts and local facility operators. As the housing market slumps, people downsize their house sizes, and some are even foreclosed upon.

People with second homes often store their large possessions like snowmobiles and RVs in units while they’re away.

Businesses use storage units too. Companies like the Old World Cabinet Company use the spaces as warehouses. With the high price of real estate in offices, sometimes it’s more economical to rent storage units than to buy up more space.

The fastest growing commercial real estate sector

According to the Self Storage Association:
Self Storage facilities are real property designed and used for the purpose of renting or leasing individual storage spaces to tenants who are to have access to such space for the purpose of storing and removing personal property. They offer rental on a month-to-month basis of individual spaces where customers provide their own lock and have sole access to their space.

Today’s typical storage facility may comprise several one or two-story buildings on 2 to 6 acres of land, or a multiple-story building, containing a carefully designed unit mix of spaces. The units typically range in size from 5 x 5 to 10 x 30 feet with 30,000 to 120,000 total rentable square feet of space.

Self storage facilities frequently have large roll-up doors and drive-up access to outside spaces and offer outside parking for storage of boats and recreational vehicles, which often cannot be stored in residential communities.

Today’s facilities normally have the following features:

- From 10,000 to over 100,000 rentable sq. ft.
- A wide range of unit sizes
- Well lighted
- Paved vs. graveled
- Units are divided by steel, movable panels
- Some spaces may be climate controlled
- High-tech security systems, including electronic access, cameras, and digital video recording
- Perimeters are walled or fenced with security gates
- May or may not have a resident manager
- Single or multi-story buildings
- Carts and dollies for customers to use
- May contain movable storage modules
- Sell storage and moving-related supplies
- Ancillary retail services and products

From the real estate perspective, self storage:
- Meets the needs of several consumer groups (residential & commercial)
- Uses simplified structures
- Makes efficient use of land
- Has short construction time, thereby providing little traffic disruption
- Uses very little energy!

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When it comes to owning property many people around the world will tell you that this is a lifelong dream. While once an opportunity that seemed to be reserved for either the wealthiest or the most miserly among the general population home ownership is now something that is accessible to a larger segment of the population than ever before.

This is good news for many but for some can lead to confusing encounters with mortgage brokers and serious sharks along the way. The best advice that anyone can give someone attempting to embrace the dream of real estate ownership is to deal with a reputable company when it comes to obtaining a mortgage. Even when dealing with reputable lending companies you must watch out for those who do not have your best interest at heart.

If you would like some very practical advice when it comes to getting a mortgage, then you are at the right place. First of all, avoid lenders that are encouraging you to take a loan for more money than you are comfortable repaying. Foreclosures are at a record high when it comes to the mortgage industry at the moment because of predatory lending practice on behalf of some mortgage brokers. These practices include convincing people to borrow more money than they could realistically hope to pay over time and have any quality of life as well as convincing homebuyers to take out adjustable rate mortgages in the beginning in order to procure lower rates.

Shop around before you decide to buy when it comes to mortgages. This doesn’t mean to actually apply for mortgages all over town but do the research and compare rates before applying with any one company. Talk to several different brokers and find out what they have to offer you that the other company down the road cannot or will not offer. Keep in mind that mortgage companies will offer everything under the sun from free toasters to free vacations in order to get you to go with their company. The proof is in the terms however. It is simply not worth that free toaster if you are going to end up paying a 6.9% interest rate instead of a 5.9% rate. You will have paid for that toaster many times over in the process of paying the mortgage.

Even after you’ve applied for a mortgage, if the deal seems to be going south check out your other options. There are all kinds of problems that crop up along the way. You are not marrying the mortgage broker. Nine times out of ten you aren’t even making any sort of commitment at all to your mortgage broker. You will however be living in the house you select. If there is a problem with the mortgage company for the specific home you want do not hesitate to change in order to get the home you desire for your family rather than allowing the mortgage company to dictate what kind of home you can buy.

I mention this because we had a very similar problem when we purchased our turn of the century home. The mortgage company didn’t think the home was worth the risk because of its age. We saw the beauty and the potential in our home that is coming along quite nicely and managed to be approved and financed in short order with another mortgage company. If this was the case in our situation, chances are that it will work for others as well.

In all honesty, it is nearly impossible to buy a home in this day and age without taking out a mortgage. It is best however if you see the process as a learning experience rather than an abject lesson in intimidation. This is your home and your money that will be spent in order to purchase the home. You are asking them for a loan but quite frankly, they need your business. Do not hesitate to shop around for the best deal with a mortgage just as you did when finding your home.

Among the most commonly contested arguments between a landlord and a tenant is the security deposit when you progress from a rental property. The security deposit may be a certain quantity of cash left with the landlord when a tenant moves in to guarantee that the tenant can not damage or otherwise wash up the landlord’s property. When the tenant moves out, the landlord can examine the property and verify if the security deposit will be returned in full, or partially, or not at all. This is primarily based on how well the property was taken cared of.

Write down every single scratch and chips you come across. Nothing is just too small, as a result of this you allow the owner to charge you for this stuff if you do not write them down. Be very detailed and even take some pictures if you can.

When checking the property, be certain that you check the things that aren’t obvious. Check the heating and cooling function. Ensure that the vents are working. Make certain that the faucets and toilets work properly. All of these things are vital not solely when you move in, but also when you leave and get your security deposit back.

Be completely sure that you put a date on the list, and talk about it with your landlord. You’ll need to be certain that the landlord agrees with all the things listed, which need to sign as well. Once you have yours and your landlord’s signature, then need to create copies. Give one copy to the owner, and you retain the original. This manner you and landlord enter into legal contract. No matter happens, don’t lose this list. You’ll need it when most once you move out and it could prevent losing money in the end.

If you follow these basic steps to obtaining your security deposit back, then you ought to not have any real troubles when you move out. This can be assuming after all, that you did not do any more harm to the property. Build sure that you and the owner do your final walk through the house before you truly leave the property as well.

Usually disputes arise regarding issues that happened once you moved out. By doing a final walk through and getting your landlord’s signature saying the property is in fine condition, you are protecting your security deposit. It’s perpetually better to keep the forms mentioned above for the next 3 years.

Real estate business has been around for a good number of years. More and more people are drawn to it because of the steady influx of money. But there are things you have to consider before entering a real estate business.

First you have to decide whether it would be a sole proprietorship or through a corporation, partnership or trust. Each has its own pros and cons. Let’s take a look at them.

In a sole proprietorship, everything as “sole” describes, managed by a single entity. In terms of splitting the income, it could be divided among family members that have a lower income bracket. A lawsuit that may arise in the future regarding the properties is held personally.

Corporation is a structured legal entity that consists of a group of persons known as shareholders. Investments are high in this type because investors are attracted to the built-in stock structure. This type stays on the market for years until the stockholders decide to split up, or merge with other corporations. However, starting a corporation needs a lot of money. Proper corporate formalities should also be followed in order for it to be recognized as a corporation. A huge amount of paperwork is also expected in this type. This includes reports, bank accounts and records that should be updated from time to time.

Partnerships are generally liable for one another. Though with taxes, an individual may be taxed in terms of his individual level. Administrative and compliance costs incurred through partnership include legal, partnership agreements, accounting and tax.

Trusts in some cases may be similar to a corporation, however, unlike a corporation, trusts are not held liable to capital taxes. And in case of losses, it remains within the trust and could not be flowed out to the beneficiaries.

When you know what type of management to consider, set on your priorities whether it would be land, apartment buildings or rental apartments.

Buying a land, like a broker, would be good investments but one has to wait a long time waiting for the value of the property to go up. However, you could get it for a lower cost.

For rental apartments, it would be an easy start and a long term return on investment but waiting for the pay-offs.

Apartment buildings mean triple-net income. It is because the tenants are usually tied in a three-year contract. A drawback on this is a vacant space for a long period of time. For every year that it is not leased, it would mean a loss of income.

Real estate business is a vast. There are many things to consider before playing the game. Take time analyzing on terms and conditions that goes with it. In the long run, wisely made decisions could bring in a lot of money and lesser problems.

If there is one thing more certain in NZ these days than the latest political scandal or sporting event, it is the view people have to real estate and the purchase of a property.

It is so true that everyone has an opinion and every opinion is the polar opposite of everybody else’s!

It was with this in mind that my eye was caught by a great blog post by Jane Yee, who writes on Stuff.co.nz. Jane is a classic Gen X / Gen Y and her life is played out through her regular blog entitled the “Girls Guide”. Now there are two really important things to reflect on at this stage (i) Jane is of the age that most people start to buy property, and (ii) Jane writes from a woman’s perspective which is as is well known very much the influential voice in real estate transactions in the case of couples.

Her most recent post “Real Estate, Everyone’s and expert” is one of the clearest perspectives I have read on the consumer psyche of buying or searching for property I have ever read. It should be mandatory reading for anyone in the real estate industry. Added to Jane’s excellent prose is over 60 comments from “people like her” that further add to the richness. I really urge everyone to read and comment.

By way of dissection, below I have distilled what I consider to be the key takeaways I see as pivotal to the process?? valuable sources of focus for ambitious operators in this industry.

1. Buying a home despite what many believe it to be is not always a rental investment property. Many people just want to satisfy their emotional desire to own a home?? it is also a great form of forced savings.

2. The process of house hunting is time consuming, enormously time consuming involving?? daily review of listings (I clearly need to introduce Jane to Realestate.co.nz as well as Trade Me, after all Realestate.co.nz does feature a more complete view of whats on the market), as well as weekend open homes.

3. The activity is very much a self managed exercise.

4. Everyone has an opinion / piece of advice. At the end of the day the collective wisdom as represented by the comments is that you have to make that decision yourself and accept the implications.

5. Your key partner in the process seem to be the mortgage broker rather than the real estate agent.

6. Unfortunately real estate agents tend to be seen (and demonstrate the behaviour) of being seen as purveyors of other peoples listings.

7. There are huge emotions involved in real estate process?? the heartache of missing out, matched to the desire to find just the right place.

8. Home buying has a benefit in a sense of control, something that can not be attained through renting and therefore financial comparisons are not always relevant.

For the past two years economic stories resound with metaphors more often heard in weather reports than the financial press.

Maybe terms like “batten down the hatches,” “keep your powder dry,” “tsunami of debt,” “frozen markets,” and the over-used phrase “The Perfect Storm” are used to describe this downturn as such a surprise, an event outside anyone’s imagination or control that terms normally used for natural disasters can capture our seeming powerlessness.

Similarly, with talk of recovery being on the horizon, we’re bombarded with descriptions of “green shoots” in the economy, brought on by the funding of “shovel ready” projects designed to “prime the pump” of employment, increased consumer and business spending, and “stem the tide” of the foreclosure crisis.

Are these economic updates or farm reports?

Cycles of change
For me, the terms imply the cyclical nature of our world in general. Adverse patterns of weather and agriculture affect our comfort and quality of life, but we know they have been endured in the past and will eventually turn for the better.

Economic cycles are no different. This is the sixth recession of my working life, and the one thing the last five had in common was a 100% recovery rate. I have every reason to believe it will occur this time as well.

The question of course is: “When?” Politicians give their assurances that it’s right around the corner. I don’t think that’s the right question.

My interest is in “How?” we will recover–as in: What policies (e.g. tax, regulatory, fiscal, and monetary) will be made available to stimulate growth; which industry sectors will grow faster than the broader economy; and the traits to look for in markets that will benefit from both.

If I know the answer to “How,” then I can develop a strategy to profit whether the recovery is this year or sometime later.

An example:
WL Ross was among a group of firms that recently agreed [Oct. 6, 2009] to buy $4.5 billion of Corus Bankshares, Inc.’s real estate. Starwood Capital Group, LLC and TPG led the group to buy the assets of the Chicago-based lender, which was seized by federal regulators Sept. 11 after its investments in construction loans for condominiums went bad.

Wilbur Ross, dubbed the “king of bankruptcy” and the head of WL Ross, stated to Bloomberg News, “Our methodology is to make a great big list: What’s every thing we can think of that’s either wrong with the industry or that we just plain don’t like about it.

“Then we start work on another list. If we had control of this industry, what would we do to fix each one of those problems?” he said. “Once we feel that there is a reasonable likelihood that the second chart kind of equals the first chart, that’s when we get ready to do something.” (Source: Bloomberg.com)

That’s the type of thinking I’m talking about. Knowing how to profit is much more important than knowing when the recession is defined as “over.” While Ross operates on a large scale, the thinking is the same when evaluating even small properties.

Commercial real estate is just now feeling the effects of the economic downturn. For the past several months talk has centered on commercial real estate loans being the next shoe to drop due to a wave of loan maturities that won’t qualify for refinancing.

My 2010 Forecast for Commercial Real Estate* has lots of charts and figures detailing not only the coming shake-out in commercial mortgages, but also over $750 billion of residential Option ARM mortgage resets, an amount larger than the original sub-prime bomb that started this mess.

These twin threats will begin to rise in early 2010 and peak in late 2011. Just as this has been a long, drawn out recession, the recovery is going to be just as bumpy.

And as the Ross example shows, those who understand the cyclical dynamics of recession and recovery, coupled with a return to fundamentals in valuation and deal structure, will profit handsomely from being in the right place, at the right time, with the right strategy.

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