I have put an offer to a short sale home, and waiting from the LENDER response.

Does today’s housing toxic assets plan what govt is planning to buy has any effect with the current homes which are on short sale or foreclosures ?

Mission decongesting Delhi to ride on the back of 2021 Master Plan

Delhi being the country’s capital has always managed to escape the questions pertaining to inadequate infrastructure, congested road networks leading to traffic snarls, residential land being used for commercial purpose etc etc. But now with water raising above the danger mark it has become impossible to turn ones back on public. Those who once were reluctant in giving answers to simple questions are left with no option but to prove their worth to nation.

One such effort is being done in the name of “2021 Mater Plan”. The plan is laid out in a way to accommodate the ever increasing Delhi’s population which is expected to rise to 2.25crore by 2021. The Master Plan has four focus areas namely commercial, residential, unauthorized colonies and farmhouses that are the greener pastures of Delhi. Following is the glimpse of how these four focus areas will be worked upon:

a) Commercial Infrastructure in Delhi: This plan has all the intentions to facilitate commercial activities as the plan allows it to be undertaken near the residential area and avoid the killing traveling part. Plan gives permit to all the streets that fall in the urbanized part and notified by appropriate authorities to be used for commercial purposes. Also, the residential areas those were tagged as commercial areas in the Master Plan of 1962 can be utilized as and for commercial purposes.

b) Residential Infrastructure in Delhi: This Master Plan has been designed keeping in mind the residents in particular. The plan offers various features that are of high benefits to all the Delhites. Residents under this plan will be permitted to have ground + 3 floors instead of ground + 2 floors as per the previous laws. People can also use their spare land (minimum 3000 sq mt) and by combing land pieces together, and appointing a builder to make constructions can derive profits out of it. This master plan also has 22 hectares of land kept aside for residential purpose where only group housing and construction of apartments will be permitted, hence solving the residential problems of people to a great extent.

c)Regulating the unregulated: In Delhi roughly 5000 hectares of land falls in the unregulated and unauthorized sector. The plan aims to work upon the unregulated land and authorize all the existing unauthorized colonies here in Delhi.

d)Farmhouses in Delhi: Last but certainly not the least is the fourth focus area of this Master Plan. Owing farmhouses or greener pastures in Delhi is a common trend and now no more a thing to be flaunted by the rich. With this type of land being idle most of the time, the master plan provides a way to reap huge profits out of such land as they permit development of Group Housing on such land.

With the Master Plan being highly active in country’s capital one can hope the congestion problem of India’s capital being evaporated by 2021.

To read more about the happenings in the world of real estate visit http://www.indiapropertyauction.com

Regards

Lalsa

“Get in,” I said to my younger brother Kevin (who was just 5 or 6 years old at the time) after we pulled his red wagon to the top of a long, steep road that ended in front of our house. “Use the handle to steer. Jason and I will push you down the hill until we can’t keep up. Just stay in the middle of the road and don’t hit the sidewalk.”

It seemed like a good idea at the time. But I didn’t think about how to stop. I didn’t check the wheels to make sure they were secure. Nobody looked at the handle or the bolts that fastened the axle to the frame. I didn’t think about cars, rocks, or the trouble I’d be in after he crashed either. I didn’t have a plan. Instead, like any other kid, I focused on the initial activity to accomplish our goal: to have fun.

Unfortunately, more often than not, this is true for real estate investors as well. Although we may define it differently, our goal is to still “have fun.” We’re all pursuing financial independence, working to acquire greater wealth for ourselves and our families. As investors, the plan is not as simple as checking the handlebar and wheels on a wagon. There are many moving pieces to consider.

Effective Due Diligence

Jim Rohn said, “We can no more afford to spend major time on minor things than we can to spend minor time on major things.” Many real estate investors enjoy the thrill of hunting down and negotiating their next investment. I’m one of them. At least to me, that’s the most exciting part of investing.

Good negotiations require thorough due diligence. Most investors do very little due diligence. Many simply verify the rent roll, do a physical inspection, make a few adjustments to an operating report and call it good. Then they close on the property and wonder why they struggle with it for the first six months.

Due diligence is so much more than that. Investors who understand it are the envy of those who don’t. If you do an effective due diligence before you buy you’ll make better investment decisions. Makes sense, right? And, if you do an effective due diligence before you sell, you’ll sell at a higher price too. If that’s true, why do so many investors struggle with due diligence today?

There are two main reasons. First, nobody showed them what to look for. Nobody gave them a list of questions. Nobody explained why to ask questions. Due diligence is not all that difficult if you have a plan covering “all” aspects of investing. (No single checklist covers everything.) However, due diligence should cover these nine specific categories:

1. Books and records
2. Financials
3. Physical inspection
4. Marketing
5. Management team
6. Operations and system management
7. Competition
8. Residents
9. Legal issues

The second reason many investors struggle with due diligence is time. It can be difficult to cover these issues when the seller or their agent pushes you to make a decision in seven to fourteen days on smaller properties and 30 days on larger acquisitions. Let’s be honest, that’s not a lot of time. Why do they do that?

It’s simple: time kills transactions. Nobody wants to wait for you to make your decision. That means they’ll press you to make it sooner than you probably should. Sellers and agents know that without a sense of urgency, your depleted desire to own the property will show in the price. They know that our excitement and enthusiasm for an investment is at its highest level early in the game. That emotion can spell disaster for investors, usually to the tune of tens of thousands of dollars or more. Can it be done in seven days? Sometimes, if you have all your ducks in a row and you spend the time necessary to get the answers you need. But more often than not, investors make premature decisions that result in more operational issues than they care to deal with when they finally close and take over the property.

The Management Plan

Like a business plan, the management plan is your roadmap to get you where you want to go. Due diligence is a necessary component of your overall management plan. Remember, you can’t spend minor time on major things. Owning a real estate investment, especially rental property, is no minor thing.

Some investors rely on a management company to build and carry out a management plan. They think that’s what they’re paying the management company to do. That’s just not the case. Although most can and will prepare what they believe to be an ideal budget, I haven’t found a management company anywhere in the country that cares as much about the property and its operations as the owner.

Whether you hire a management company or onsite manager to help you with the day-to-day operations of the investment or you do it yourself, the management plan falls squarely on your shoulders. Isn’t that exciting? One more thing for you to do! Owning property is just like any other business. Set expectations and follow-up. If you manage the property yourself, you’ll find it much easier to carry out the activities outlined in your plan to help you accomplish your dreams and goals. Here are just a few things to consider:

• Role, responsibilities and authority of the management company
• Personnel policy and staffing structure
• Marketing plans and procedures
• Leasing, rent collection, and occupancy standards
• Lease termination and eviction process
• Operating budget and forecast
• Income analysis
• Physical appearance analysis
• Expense analysis
• Accounting and reporting procedures/expectations
• Management training programs
• Management compensation

The management plan could encompass much more depending on how detailed you want to get. But it doesn’t need to be overly difficult; it just needs to clearly define the expectations and activities necessary to get you where you want to go.

The nice thing about money is that it’s indifferent. It doesn’t care who holds it. If you’re not where you want to be; if you don’t have what you want or think you need to live the life you want to live at this very moment, I have really good news. You’re not a tree. That means you’re not stuck where you are. That is good news, isn’t it? You really can have it all.

There’s nothing magical about investing in real estate. There’s no mysterious, closely held secret that will make you millions more than the investor sitting next to you. Successful investors consistently apply basic real estate fundamentals over and over again. They can all be learned. If you have the desire, commitment, and discipline to carry out the techniques investors have used for many years you’ll accomplish your goals faster than you ever thought possible. That’s what we all want. Anyone can do it, and you can too. Most investors are looking for specific strategies to help them maximize returns and the good news is those strategies exist. Taking the time to plan and strategize can save you thousands and make you millions. You don’t want to end up racing down a steep hill in a little red wagon-just ask my little brother.

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