Different Types of Real Estate in South Florida

There are five types of real estate investments, and each type has its own advantages and drawbacks. The fact is, not everyone is interested in investing in residential lots. So, what other options are there in South Florida? Check out this quick video by real estate investing wizard Grant Cardone.

 

  1. Land

This type of real estate property includes ranches, farms, and vacant land. Generally, the size and price of this property are quite big. In some areas where lot prices are cheap, vacant land can generate a higher commission rate.

As an agent, specializing in building lots can be profitable in rapidly growing areas. However, you may need to search farther out from the city as the spread continues. Make sure you know any particular buying requirements before you make any purchase.

2. Commercial
 commercial real estate is any property that generates income and is usually called a commercial property. This includes shopping malls, medical buildings, schools, hotels, and offices. Although used for residences, apartments are still deemed as commercial because they’re possessed to generate income.

An empty land can also be considered a commercial property if it’s marked for commercial use. The valuation of this property is more complex because you need to consider a lot of factors including income potential, cash flow, and historical revenue.

  1. Industrial

The industrial type of property is mainly used for industrial purposes. It includes warehouses and manufacturing buildings. These properties can be utilized for research, manufacturing, storage, and distribution of products. Some buildings that sell goods are deemed commercial real estate.

Investing in an industrial real estate is good for the intelligent investor because it can offer large benefits, such as higher yields, longer leases, and low maintenance. As rents go higher, income and yields go up as well. Industrial tenants also agree on long lease agreements, which can go up to 10 years.

  1. Residential

The residential type of property is perhaps the most popular property niche with real estate agents. This includes both new construction and resale houses. As a real estate agent, you can specialize in different types of homes including duplexes, condominiums, and vacation houses.

You can even work with only high-valued properties. The strategy is to do what you please. You’re going to serve your customers better if you’re interested in your niche.

  1. Mixed Use

There are some real estate properties that combine any of the above categories into one project. Let’s say; you want to build a three-story office building surrounded by retail stores. You can let other businesses lease in other spaces of your building. This type of real estate property is ideal if you have significant assets because it can help control risk through diversification.

A Piece of Advice

When considering a real estate prospect, never buy it directly in your name. There are a lot of reasons, one something to do with personal asset protection. The trick is to use a legal entity, like a Limited Liability Company or a Limited Partnership. In case you face a lawsuit settlement, you can put the legal entity into bankruptcy and walk away.

 

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4 Tips to Design Small Living Spaces in South Florida

Small living spaces are a pain to decorate. There’s always the possibility of overestimating the things you need and the tendency of underestimating the actual space you have. But, don’t fret, there’s a way to work out the little room you’ve got. Check out these handy tips on how you can fit everything in your South Florida home and still make it seem like you have room for more:

  1. Good lighting is your best friend.

Fill the room with light! Don’t rely on a single light source in the center of the room. Rooms look better when there’s ample lighting all around. Make sure the room has multiple light sources, including natural light. When the light spreads around the area, it makes the rooms look more spacious. You can even utilize the vertical space in your area by varying the length and sizes of the light fixtures attached to your ceiling. This technique is going to make your room look so much more spacious than it really is. You’ll even get to do away with those heavy drapes.

  1. Clean up your clutter and organize it.

A small space doesn’t need unnecessary objects piling up on its floors and table tops. The best way to get rid of clutter? Stowing all your clutter away in strategic shelves and storage units you can hide away. You can also opt for donating some of the items you no longer use.

Pick up all the mess on the floor and everywhere else. Next, declutter. Arrange your items in boxes with labels like ‘throw away,’ keep,’ or ‘give away.’ If you’re having trouble letting go of an item, ask yourself ‘Will I use this anytime within the week or the next month?” If the answer is ‘No,’ you’ll most likely have to place it in the give or away pile.

  1. Mirrors, artwork, and plants can accentuate the overall look of your room.

Mirrors manipulate depth perception. This means mirrors can be used to trick the eyes making the room seem bigger than it really is. You can make use of this trick to visually expand a single room or the whole space. Ceiling-height plants create the same kind of effect too. These plants, together with floor-length mirrors, will draw attention to the ceiling and the room as a whole. If you have some artwork you want to showcase, place them above the average line of focus. This manipulates the vertical space of the room.

  1. Make use of furniture that have little compartments or multi-functional ones

Multi-functional furniture has to be one of the greatest inventions of all time. Imagine having a sofa with drawers underneath that you can turn into a bed anytime. Or maybe a coffee table that can house an armchair and a side table. There’s even an ironing board that doubles as a mirror when you fold it up. How cool is that? Multi-functional furniture are a small space’s best friend. They are not only aesthetically pleasing, but they’re also functional.

 

 

 

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Real Estate is my Passion

Real estate has been my passion since recieving my licnese when I was 18. There is just something about how I see people feel when they get to buy a new home of their dreams and and have a new place to live. There are always some ups and downs here, but at the end of the day I love it.

Why Real Estate?

Well first off, my father is a real estate mogul and I would love to follow in his footsteps. He owns a lot of property and I would love to do the same thing. Second off, I was not really a person who wanted to get a degree from a university, so a great decision for me was to study for my real estate license. IT is NOT because I am not smart or good at school, I just did not see the reason to waste 4 years of my life to get a piece of paper to allow me to work for someone else the rest of my life. Kind of seems like a bad joke right? Anyways, I passed the Real Estate exam with like a 95% on the exam! Pretty good huh?

Florida Real Estate Broker License

I am now considering going to back and obtaining my Florida real estate broker’s license. I would love to be able to open my own office and move the chains forward on owning my own brokerage. This has been a dream of mine for quite some time, a dream I am hoping to obtain in 2018. I am currently doing my continuing education, as required by the state each year!
Wish me luck!