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Business & Finance | Business & Finance
Business & Finance | Business & Finance
Buying in Bulk - Adding Value to Real Estate Investments
There are few industries in the world where buying in large quantities doesn’t demand a discount. Why should the real estate industry be any different?
It’s a simple philosophy really; buying a large number of homes in one go allows you to negotiate a discounted rate for each house, meaning you can purchase property way below the normal market value.
Of course, it depends on the number of houses you are looking to buy in your bulk order, but it is thought that investors can normally knock somewhere between 20 to 50% off of the market value when buying in bulk. This combined buying power adds value to any real estate investment deal, allowing for better profits to be realized immediately.
The key to bulk-buying real estate is in ensuring you get the properties for the right price. This requires very strict risk assessment and due diligence. Each home will have its own unique set of circumstances (location, state of repairs, resale/rental value) and so each property has to be scrutinized as a stand-alone project rather than as part of the overall deal.
Buying property in bulk allows real estate entrepreneurs to add great value to each of the houses in the deal. It is a good opportunity for experienced real estate investors, although it can be more difficult for smaller-scale entrepreneurs as they may lack the capital, or the seller may lack confidence in the buyer’s ability to pull it off.
Business & Finance | Business & Finance
The Importance of Good Business Relations
Cultivating and maintaining good relations is one of the most important aspects of running a business, no matter which industry you operate in. Good communications - both internal and external - can often be the difference between a thriving, success company or one which will struggle, and ultimately fade away to failure.
In the fast-paced world of real estate, where high-pressure deals hinge on the actions of a broad variety of people, a high standard of good quality business relations is absolutely essential, and can literally be the making or breaking of an investment company.
In real estate, outside parties are integral to the running of a business. A number of external forces play their part in the deal process, and with sensitive timescales, the outcome of a deal can be held up by outside parties if they’re not inclined to move on things that need addressing right away.
A real estate deal can involve external parties including banks, asset managers, public officials, legal counsel, architects, developers, and contractors. You want all of these to operate like clockwork to make sure the deal goes through smoothly and on time.
I’ve 20 years’ experience of leading successful business ventures. I’ve always maintained that good quality relationships are one of the fundamental keys to my success. In business, you’re reliant on others. You want to nurture the kind of relationship where that person will pick up the phone when you need them and do what needs to be done immediately.
How do you go about building this kind of trust? By being the type of person who is trustworthy, loyal, and honest. Relationships work two ways. The partnerships I have in the industry have been built on a mutual respect for one another, which has developed through years of helping each other out when necessary.
I’ve known all along that without these people, my businesses would have struggled. That’s why I keep my philosophy simple: look after your staff, look after your external relations, and they will look after your business.
Business & Finance | Business & Finance
The Social Responsibility of Improving Neighborhoods
It won’t come as a surprise to many that, generally speaking, there is no place for ethical or moral concerns in business. Companies are generally driven by the bottom line - the profit - with any positive outcome for society at large being an added bonus rather than a fundamental driver.
This is what I love about being a property developer. For us, improving society by revamping rundown real estate is absolutely paramount to creating a healthy profit. It’s connected. When we reimagine a site for future use, the first thing we have to consider is creating something that people want, that will benefit the lives of people in the area, and so will draw tenants or businesses to the site.
This is arguably the most creative aspect of property development: we are shaping neighborhoods. Fortunately, we are in the business of creating spaces which people want/need. Social responsibility is an integral part of our business model. We are not just working for the bottom line, we are actively improving the lives of residents.
Business & Finance | Business & Finance
Perfecting Interior Design in Luxury Homes
Bright colors should be used sparingly and offset against a neutral color palette to inject stark flashes of character into the home while remaining understated. The use of materials such as stone, wood, metal, and glass can add attractive textures to the house while recycled materials and aged items add a sense of timelessness. The latest technology should be interwoven into the house making its function sleek and modern, yet remain invisible to the eye so as not to damage the overall aesthetic.
For me, luxury interior design is not about buying the most expensive furniture. It is about beginning with an idea, a concept, and nurturing it to allow it to organically blossom throughout the house, creating a bigger picture when perceived together as a whole. This is how you create an authentic luxury interior. It’s not something you can just buy off of a shelf.
