Category Archives: Business & Property

Working with Engineers for Property Development Project

Involving in property development means you are now both investor and developer. It means you have more works to do including work with your teams. As you have known that property development project is not a simple project.

Working with the right engineers for development projects

It carries some risks and weighs if you don’t take it seriously.

There is too much too lose if you are not careful enough in planning the right strategies. Along with all the perks in property development, working with engineers is one of them. Since you are involved in property development, it means you have gained enough experiences in the business. And that it is not the first time you work with engineers as well.

Working with the right engineers for your development project

Engineers are not the only person you need in order to finish your development project. What you need is a completed team consisted experienced and skillful people who know how property development works. Working with engineers is supposed to be smooth. That way, the project can be finished on time. You also need to know what type of engineers that fit your development project and here is the information:

  • First thing first, you need to know about soil engineers or geo-technical engineers. What they do is to conduct a test to the soil where your project will be established. This way, you will know the true condition of the soil. Therefore, the structural engineers will know what to do to make the right design to the footings or foundations of the building.
  • Next is structural engineers whose job is to design the foundation and footing of the buildings. They are also needed in structural design development so that the building that is going to be established will be functional and cost-effective. They will make sure that the building can withstand the loads of the steel and concrete, as well as the occupants later. They also need to make sure that the building can withstand natural forces like wind or rains.
  • The next is civil engineers. Just like their title, their job has something to do with civil works such as drainage system, water supply, earthworks, etc.
  • Other engineers are related to hydraulic and fire. If your project is a single or two-storey development, you may not need to hire them. However, they are needed if you are handling a high-rise apartment development project as well as commercial building. They can plan and work the pipes, gas, water, and waste. They can also design fire hydrant as well as fire alarm system if you need it.
  • After working every plan with the engineers, you will need to hand the plan and design to the architect. However, you need to engage with land surveyor before go into details. Their job is to survey a plan of your land. If your development is on a larger scale, you will also need to engage with quantity surveyor, they are construction economist who can also manage how the cost flows.

Effects of Procrastinations to You and Your Business

Procrastination and business cannot be at the same place. It sounds wrong because the two don’t work well with each other. However, procrastination has been like a habit that almost every individual has in their daily life. Sometimes, procrastination comes in minor thing such as waiting for few minutes before replying emails. Or holding off discussion for a day or two just because. Business is a competitive field where you will definitely get left behind if you do it. There is no nice thing coming from procrastination for business.

Why procrastination is bad for business?

In business, especially property investing, you have lots of competitors who fight tooth and nails to be on top. Those who have reached their success are rarely the lazy type. In running property business, there are various due diligence you need to handle daily, weekly, monthly, and annually. If you procrastinate one task, it will be piling up. At the end, you will be overwhelmed with so many works when you have short time to catch up. Aside from increasing the chance to be successful, it will only damage your business. By procrastinating, you will miss so many opportunities.

By procrastinating, you will also ruin your relationship with people around your business circle. You see, property business for example, needs a team to reach success. You need the others to work with you harmoniously and efficiently. However, it will go to waste if you keep procrastinating your responsibility waiting until the last minute to finish your review or holding off meeting with your team to discuss important matters.

Procrastination can ruin your reputation. While running your business, you carry your image as reliable person and professional. When you don’t immediately respond your business partner or tem member and procrastinate it instead, your reputation will be ruined. You see, reputation takes time to build and takes longer to prove.

The longer you procrastinate your responsibility, the longer you achieve your success. Even those who are diligent take years before successful in their business. Thus, procrastination only makes you far from reaching success. Those who want to achieve success in business rarely adapt habit to procrastinate because they are driven by their goals and passion.  

Procrastination may not damage your business overnight. It happens gradually and surely. You will feel the damage only after it is too late. Therefore, never include procrastination into your habit especially when it comes to handling your business. Success can only be achieved by those who work hard and work smart along with self-discipline and strong devotion.

How to avoid procrastination

When your desire to procrastinate gets worse, you need to remember your goals you made from the beginning. That will remind you why you choose this path of business. You can also avoid procrastinating by finding out what your priority is. Try to maintain your focus so you will forget to procrastinate. Another way to avoid procrastinating is to surround yourself with people full of positivity, bright energy and high motivation to success. Their enthusiasm will rub off on you sooner or later.

Bali Luxury Villas Best Management for Well-Crafted Holiday

Sometimes, it is easy to be trapped in a certain type of vacation which leaves you no impression at all. Therefore, it is highly recommended to design your own holiday according to your interest and likings. You can realize it with the help of Bali Luxury Villas which has been managing and renting private villas in Bali with care and love. Moreover, you will experience more than just a plain holiday. You will experience cultural diversity and the finest of Bali. All villas featured at Bali luxury Villas are well-accustomed to provide more comfort and joy.

Bali luxury villas

The best management at Bali Luxury Villas

It is not easy to find the right rental company especially when it comes to villa rental. You see, villa is more customized accommodation to fit the guest’s preference. However, there is a key to find the right villa rental company, which is to pay attention to how they run the management. And at Bali Luxury Villas, the best management is designed to provide what the guests need for comfortable holiday in Bali. And here are reasons why the management is the best:

  • The team has professional management as the key element for satisfying service for every guest. The team is dedicated to give their best. Aside from dedicated, they are experiences within hospitality industry. With their knowledge of villa rental market in Bali, they can give the guest the best experience in Bali. Professional management doesn’t mean stiff service. In fact, everything is handled in friendly manner to make guests stay comfortable.
  • The responsibility of management in this villa rental company include maintenance, administration, service, staffing, reservation, contact, and marketing. They are managed thoroughly and carefully so everything is in place and run smoothly. The main goal of Bali Luxury Villas is to give full customer satisfaction. Thus, all aspects above are well managed in right system. Every issues within responsibility is handled quickly and efficiently. By responding quickly, there is no room for guests to feel neglected or abandoned.
  • Another important aspect is reliability. You may have experienced staying at luxurious villas with in-house staffs but they are not attentive to your need. It is the kind of service you don’t deserve especially after paying much money for it. With Bali Luxury Villas, you will only get reliable staffs with reliable service. Every aspect of service is driven by personal, professional, and customized approach to meet what the guest properly.
  • This luxury villa management company has smooth operation started form maintenance, service, and day-to-day running. It is important for a villa to run day-to-day operation such as housekeeping, accounting, security, office service, menu creation, daily grocery shopping, and many more. Bali Luxury Villas offers legal experts to manage rental property. In addition, there is also special arrangement for special case. It is common that a rental villa has different kind of guests. Each one of them is differently special. Thus, the management is designed to be molded perfectly with every problems, illness, or accidents where the guests involved.

When Should You Let Go Of Your Property Manager

When you deal with property investing, you need to work with other people in order to run your business properly. Thus, you need property manager especially when you are involved in rental property investment. You see, handling rental property is not as heavenly as it sounds. You are not just sitting and waiting for rental income every month. Your property is your asset so is your tenant. You need to manage both in order for smooth business. Aside from managing the property and tenants, you also need to keep update with the market. There are many due diligences you need to handle and they can be overwhelming if you don’t hire the right property manager.

Reasons why you should cut down the ties with your property manager

You see, there are lots of property management companies out there ready to give their service to investors however, not all of them are reliable. There are also possibility of something bad happens during your partnership with them. You should know how to read the signs of when you should let go off your current property manager and find the new one which are more reliable and professional. Here are the moments:

  • When they suddenly missing without giving you notification ahead of time is when you should immediately check on your properties. When you keep reaching your property manager but they keep giving you cold shoulders for days, you should know that there is something bad going on. There are many possibilities why they disappear. They can be overwhelmed with works, or they just poorly unprofessional. So it is time to do your own investigation and find the problems.
  • When your tenants keeps blowing up your phones this is a simple indication that your property manager didn’t do well with their task. You see, when you have property manager, it means your tenants can call them instead of you when they have some complaints. When your tenants reach you, it means they have been ignored by your property manager.
  • When your property managers keep making mistakes even a simple task, then you should start investigating. You see, your property manager should give you regular reports of your property. If they didn’t give you the report, ask for update. This can be indication that your property manager didn’t do well with your property maintenance. The reasons may be varied. It can be because they are just plainly unprofessional or lazy to do their works.
  • Another reason why you should investigating your property manager works or even go further by firing them is when the cash flow is poor. If your property still vacant for months or you keep receiving compliance issues, it is time for you to let go of your property manager because it means they cannot do their job very well. That is why you should make sure to state the clauses about how you can end the agreement with your property manager so you know the exit when you need it.

Things You Need to Be Aware Of Property Development

You see, property development is not a simple project. It requires lots of works and it has its own risks you should consider before blindly jumping into it. Involving in property development means you need to be aware of many things, especially the risk.

Things to be aware of property development project

Of course, being brave to take the risk is good. However, taking the risk without weighing down everything before is a reckless move you should never do. It doesn’t mean you should back of property development especially if you have determined to get involved to it. However, it is highly recommended to take everything into consideration before taking the project.

What you need to be aware of property development project

When you decide to choose property development, it means you will become a developer. It is not a simple investment. First thing first, you need to know the risks of taking this strategy. There are risks associated to property development you should be aware from the beginning such as:

  1. In property market, there is always risk and possibility of rates rise over the life of your development project. It means you need to deal with the loan. And in return, your holding expenses will also increase if the rates rise. The project of property development may take years to complete before you can even gain profit. You need to create strategy which earns you enough profit when the situation is tough. You need to be able to refinance so that you can pay out your development loan.
  2. Another risk is still related to your finance. You see, there is possibility of the construction cost to increase. As the result, cost of labor as well as building materials will increase too. If you don’t have a backup plan for this risk, you will have to borrow more money to cover the development’s expense. Or worse, you have to sell your unfinished project in much lower price. Therefore, it is highly recommended to prepare your finance since the beginning to face this kind of situation which is often unexpected.
  3. A downturn is the risk you should be aware of in property market. You see, the general economic conditions is not truly stable. There are times when property values drop to the bottom. This is actually a natural occurrence in which sometimes is inevitable. What you need to do is not to control the property market or prevent the situation from happening. What you need to remember tis that property market has its cycle. You also need to know about the fundamentals driving the every situation in property market so that you can thrive through your development project accordingly.

You also need to know that fluctuations happen in any kind of business including property investing. It is influenced mostly by demand and supply. As the result, it influences real estate prices. Population grows and changes which means anything can happen. Being prepared for every possible scenario is the best thing you should do to finish your development project and gain profit from it.

Various Goals Owned by Property Investors

Every investor has their own goal for why they invest in property. The goal is what drives them to keep going and trying. Comparing your goal with average investors is not essential. However, there is nothing to lose if you know what other’s goals are. Basically, there are two main goals which are short-term and long-term goals. Every investor should have those two goals. The type of goal you have can determine what kind of investor you are. Whether you are a conservative or ambitious investors can be seen from your goal, especially from the long-term ones. Of course, having goal is essential in property investing as it is the thing you should achieve.

The average goals of property investors

Goals in property investing is not only helping you to thrive the business. It also helps you to know where you direction is. You see, there are various paths you can take during your investing. There are so many choices you and decision you need to make. With clear goals, you know where to go and what kind of strategies you should use in order to achieve them efficiently and successfully. Here are the most common goals of property investors you may need to know:

  • One of the most common goals is to own five or six investment properties by retirement age in hope to have financial freedom without working too much. It is not wrong to have this kind of goal. You can have as many investment properties as you want to get your own financial freedom. However, you also need to remember that there is no relevancy between wealth and the number of investment properties you have.  The more important points than the number is the value and the size of your asset. You also will be more beneficial when you focus on the quality of your asset with the portfolio. It is better to have one property worth $1M instead of 10 properties worth $100K. Therefore, it is recommended not to decide your goal based on the number but based on the quality and value of the asset. It is more relevant to the wealth.
  • Another goal owned by most property investor is to have property portfolio generating $100K in passive income per year. The purpose comes from the need to reach financial freedom as well. Of course, you can have this goal as well and there is nothing wrong with that. However, it is realistic and achievable if you have allocated enough time. The key of this goal is time because you need to see how your investment grade assets grow and compound. The process of how your asset grows doesn’t happen overnight. If you look at the nominal $100K, it is considered realistic and enough for you to live your retirement pretty comfortable. It will be enough if you are a mortgage free as well. If you don’t have excessive spending habits, $100 K will be enough to cover tour daily expense with decent luxuries occasionally.

Hunting for Seminyak Villas with Wonderful Pool

Staying at villa during your trip in Bali is good choice because then you can enjoy some amenities not all accommodation has such as private pool or infinity pool. Seminyak is the perfect place to look for this type of villa because this is sophisticated areas in Bali famous for luxurious accommodation for great vacation. There are many Seminyak villas offering luxurious holiday package completed with wonderful amenities and best service. Finding one of them is not even hard. Besides, every staff working in private villas can speak English so you won’t have difficulties in delivering your wish during your stay.

Seminyak Villas

Recommended Seminyak villas with wonderful pool

It is not hard for you to settle down once you touch down at Bali. The people are friendly and welcoming. The environment is great with tropical vibe. The foods are delicious and made from high-quality ingredients. The accommodation is also satisfying. If you are looking for villas in Seminyak with stunning pool, here are some recommendations:

  • Villa Shantika – This villa consists of three bedrooms completed with TV lounge. It has open-plan living pavilion which makes is spacious. The location is also strategic since it is situated only few minutes away from the heart of Seminyak. Double Six beach is walking distance. You can also enjoy your time sipping on evening tea in the tropical garden attached with a 14-metre swimming pool. In the garden, you can also sit on the timber deck overlooking your surroundings filled with luscious trees and beautiful plants and flowers. There are rattan day beds for you to lay down while enjoying the fresh air. The staffs are also professional and always ready to provide you the best service.
  • Villa M – This villa has five bedrooms designed in modern styles. It is equipped with sunny rooftop terrace and luxury bathtub. The living pavilion is designed in open-plan concept. It is situated at Petitenget district allowing you to reach places of interests within walking distance. It is also only few minutes away from the famous Potato Head beach club. Through the stand-alone bungalow, you can reach stunning swimming pool surrounded by tropical garden filled with luscious greeneries. Not only that, there is also lap pool with a waterfall at the outdoor area. Thus, you can have serene retreats to the max.
  • Villa Paraiba – This villa has four luxurious bedrooms fit for 8 persons max. It is situated in the Petitenget district and close to some fancy restaurants in Seminyak. You can choose to stay at the master suite that has direct access to the garden and pool. You can also spend your lazy days in the romantic canopied four-poster beds beneath the high soaring rooftop designed in traditional style. Of course, you can also enjoy soaking in the sun at stunning swimming pool in the middle of luscious garden complimented with timber decks. There is also outdoor bamboo shower to help you rinse off after swimming. Meanwhile, the interior design is elegant and blends perfectly with traditional flairs.

Disadvantages When Investors Don’t Hire Buyer’s Agent

Investing in property means there are many challenges you need to deal with. You also need proper information of everything related to your investing. However, it is impossible to rely on yourself especially in buying property for investment. Thus, most experienced investors trust buyer’s agent to work with. They have essential information you need to consider your decision making. Of course, being independent is beneficial as well. However, not in this matter. To be successful in property investing means you need to work with other people and trust their skills to help you reach your goal.

Disadvantages When Investors Don’t Hire Buyer’s Agent

Possible bad things happen when you don’t hire buyer’s agent

There are many advantages when you work with skillful and trusted people especially in property investing. Contractors, attorneys, seller/buyer’s agents, and others are necessary for your property investing as they are valuable source of information you can get. As an investor, hiring professional buyer’s agent is beneficial as you will gain valuable information for your investing and decision making. Here are bad things possible happen when you don’t hire them:

Lack of confidence

First reason is because you are lack of information you need to make decision and negotiation. Since you don’t really know the market, you don’t really know what to do to make the best deal. In the other hand, buyer’s agent is professional and independent negotiator that knows basic information about the local market. Thus, they can work on behalf on you.

Wasting your time

You can work alone in property investing. However, for how long you are going to waste your time doing research, investigation, inspection, and every due diligence alone? It is highly possible that you miss great chance while wasting time working all alone. Meanwhile, you will do everything efficiently if you rely on buyer’s agent since they already know the information and everything related to the local market.

Bad decision due to emotion

Property investing is about logic. If you make decision from personal feeling, the possibility of making it bad is very high. Meanwhile, buyer’s agent will start their work not from their felling but from goal and long term plan. They will make unbiased opinion and input. Thus, you will be able to gather more information to make the right decision.

You don’t know what comes next

Next disadvantage you possibly get when you, as an investor, don’t hire buyer’s agent in buying property is that you don’t know what comes next. Of course, nobody knows what comes next in their life. However, with professional and experienced buyer’s agent you will be able to ask for recommendation of the right contacts for your investing. Thus, you know what to do or where to go after buying the property. However, make sure to choose professional, independent, and reliable buyer’s agent because not all of them are equal.

 

Buying Property Strategically to Make Valuable Investment

Buying property is always both exciting and thrilling because it is your investment and you should make right decision. Choosing the right property to buy for investment should be done strategically or else your money will only go to waste. Your hard-earning money should be invested into something valuable and profitable. Thus, you gain your benefit.

Things to do in buying property for valuable investment

The principle of buying property for investment is to buy the right property at the right price in the right location. Of course, it is easier said than done. Even though it sounds easy to just buy, you need to do your own due diligence and choose carefully.

Things to do in buying property for valuable investment

Your property is your asset. There is no doubt about that. That’s why it is challenging to find the right one. Price is often the most hassle to tackle down.

Lots of people misunderstand the concept of ‘the right price’ and refers it to ‘cheap priced property.’

However, buying the right property at the right price doesn’t mean you only should buy a property at low price. You should buy a property that worth the money as valuable investment. Here are things to do to make you easier in buying property:

  1. Firstly, you need to decide your goal especially the long term one. The goal you set will help you decide what kind of property you should buy as investment. If you don’t know what your goal is, you will most likely getting lost before making any profit.
  2. Next thing to do is to sort out your budget. You need to decide how much you are willing to pay for a property. You also need to decide the source for initial cost. Deciding the nominal of money you can afford will help your search of property.
  3. Finding the right source of money is also necessary. If you are not going to use your own saving then you must find the right lenders. You may need mortgage broker to give you the best loan structure.
  4. Next thing to do is to do your own research of property market. The most important part in searching property is location. Buying the right property at the right location will help you a lot to avoid failed investing. Upon researching, you need to find out more about the local economy, infrastructure, public amenities, etc.
  5. Choose location of property which is high in demand. This is how you define the right property. Make sure that the strong demands come from wide range of people. Make sure to choose property that appeals to owners occupiers as well and not only tenants.
  6. Be more active and thorough in doing your due diligence while searching for the right property. It will be helpful to seek advice from professional. They will help you making better view of the entire process of property buying. It is even highly advisable to seek professional advice if you are going to buy property in huge scale and not only a single-family home.

Understanding More About Timeframe in Property Investing

Some people argue that staring property investing should be as early as possible and some other say that it is wise to wait until you are mature to make decision and financially steady.

Does age really matter in property investing? Is there expiry date to start investing in property? What happens if you invest in your 50s? Will it really affect the outcome when you think you are too old to invest?

Of course, it is easy to say that you are never too old for anything or that it is better late than never.

However, property business involves different parties which also has their own standard in making decision such as lenders, bank, and the industry itself.

Some people are afraid of being too late to invest and miss the boat of golden period of their property buying career.

How timeframe in property investing works

One important thing when it comes to property investing is to consider where you are financially now. You also need to know where you wish to be financially when you retire later.

Timeframe in property investing

Then, you also need to consider the timeframe which exist between now and then. Here is timeframe in property investing:

  • Investing in your 30s is good because you still have at least 30 years ahead to build your portfolio. You still have plenty of time to develop the right investment strategy to build your career. When your loan is getting slower, you can transition into the cash flow phase which benefits your income.
  • If you think you are too old to start investing in your 40s then you are wrong. You still have 20 years to make promising and profitable decision for your property investment. If you are in 40s now and have been thinking of investing in property then might as well start now.
  • When you consider investing in your 50s, you are not completely lost. Ideally, you have some property asset behind you at this age. However, you can still start investing as long as you have clear strategy. You also need to put ‘capital growth’ in your priority list more than anything.
  • Investing in your 60s can be challenging and risky. It is not impossible to start investing in this age. However, you may need to speak to professional property strategist because there are many factors to consider if you want your investment to be successful.
  • Investing when you are already a retiree is still possible. However, it may need to be done under certain circumstances. However, it will require more effort and convincing situation before a bank agree to give you loan you need for investing in property.
  • It is recommended to start investing in property as early as possible because then you have more time to grow. There is more flexibility to make mistake as well. Make sure to speak to professional and experts to get the right guidance of what to do. Applying the right strategy will also determine your success in investing.