Gurgaon is one of the major hotspots for commercial property in India today as it has become the most important outsourcing and off-shoring hub in the world. It is located in NCR (National Capital Region) and has emerged as the IT and BPO capital of India. It is the industrial heart of north India as it houses several top notch MNCs, Corporates and Fortune 500 companies.

The commercial property in Gurgaonis the most favorable among the business leaders as it has become a new age business destination. Undoubtedly, its proximity to the national capital, Delhi has benefited it in more than one way. Consequently, it is entitled to all the facilities available to Delhi along with the well trained and highly skilled professionals. In addition to this, it has a very business like environment in its healthy and hi-tech surroundings. (more…)

The challenge of marketing businesses during tough times is increasing and is a major concern by companies. Some companies would decide to cut on their marketing and advertising budget knowing that the market is not responsive to the advertisements. The others would take advantage of the crisis to increase the budget and aim for a better share of the pie compared to the competitors. Some will just maintain the budget. However, in the area of real estate business, there is still a need to market even during tough economic times.

If you own apartments or an apartment, you should exert an effort to still market your apartment. You should not accept the fact that the economy is gloomy and you will wait when people are ready to buy. For all you know, there are people who want to take advantage of the situation and will be interested to buy an apartment during these times because they know that the costs are lower. These people know that the crisis is a good opportunity to buy properties at lower prices compared to when businesses are booming. (more…)

If you say the word “investing” these days, people tend to shudder and run in the other direction. Investing has become almost a curse word because we’ve all seen our stock portfolios evaporate. What people don’t realize is that stock investing is a self-fulfilling prophecy and the only way many people will survive is by doing something else. I advise apartment investing.

When stock investments do well, everyone wants in and that popularity drives the price higher and higher. But then the market folds and everyone jumps out of the stock because it begins to become unpopular. And because people think the stock will become unpopular, they sell and the stock price falls, thereby becoming unpopular! That’s what I mean when I say that stock investing is a self-fulfilling prophecy. (more…)

Networking should be a primary form of marketing for all real estate entrepreneurs who are seeking investors. One reason is because networking costs very little but that connection brings with it a lot of trust, so it’s easier to ask for, and get, investors. Another reason is because the SEC has strict rules about how you can get private money and advertising for it is illegal. And the third reason that networking should be on your to-do list is because it’s something you’re always doing; you’re always meeting people, shaking hands, and connecting.

Sometimes, new real estate entrepreneurs ask me about where they should be meeting potential investors. My first answer is: “Everywhere!” It doesn’t matter where you are, if there is someone else in the room, you can network with them. They might invest with you or, just as often, they’ll know someone who might be interested. (more…)

There’s some money to be earned buying and selling real property, especially REOs, or real estate owned. These are real properties foreclosed by banks and unredeemed by the former owners within the allotted redemption period. Therefore they are now assets owned the bank and may be sold to interested buyers, the former owners included, at usually prices relatively lower than those in the regular real estate business. So the profit potential can be substantial for the intrepid broker.

However, dealing with banks on the matter of REOs can be very frustrating: banks are often terribly painful where REOs are concerned. When a REO property goes for sale, it is usually sold through bidding. The list of REOs is published or posted and a minimum bid is indicated for each piece of property as well as the end date of the bidding. The interested buyer then submits his bid for that property, not knowing if there are competing other bids or none at all.

That’s easy as pie and buying an REO should thus not be a hassle at any stage. But it is, in almost every aspect. Consider my recent example:

A REO came on the market, my first-time homebuyer bid. The bank sent him a series of counteroffer letters stating in effect he should make his ‘best and highest’ bid. The buyer might have been bidding only against himself, because if there were other bids they were not disclosed by the bank to my buyer, but he nevertheless submitted his ‘highest and best’ bid and ‘won’. We requested for an early sales closing and my buyer proceeded to arrange for his loan to purchase the REO property.

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Foreclosures on mortgaged properties happen quite often, but banks and owners do not desire such for simple reasons. The owner will lose his property, while the bank gains something it does not want, nor know what to do with. To forestall such an event, short selling may be the answer to benefit all parties concerned. But it is quite a hassle to do.

Short selling involves much physical work and paper pushing. Even if someone else handles the negotiations, phone calls and paperwork, there is still much labor and some possible frustration in store for the unprepared broker or agent. However, as in many things, there are always ways to make a success out of it. The first requirement is the willingness and desire to help the homeowner.

Even if they personally approached the brokers to sell their home, most homeowners who are in danger of being foreclosed on avoid talking to a stranger about their mortgage problems. This is usually for fear of being preyed upon, in the hope that something will come along to solve the problem, and to minimize the chances of their problems being ‘broadcast’ to others. Being sincere in trying to help them can open them up so that the broker can get the complete picture of the potential sales.

The second requirement in making a success of short-selling a house is to tread very carefully in exploring the reasons the owners are selling for the reasons stated above. Asking less personal questions that should reveal the reasons for selling can lead the conversation to the motivations, so that the parameters of the sales can be determined more quickly. “Why sell”, “At what prices do you believe your property should be sold”, “How fast would you need to sell?” are easy questions that can be important in finding the best way to sell the property.

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