Credibility One of the Most over Looked Items in Kenyan Real Estate

There are several different ways I built credibility.

First of all, like it or not, people make value judgments about you before you even open your mouth.  Think about it.  What preconceived ideas do you have about a bag lady vs. a movie star?  You get an image but the reality is you don't really know anything about them.  It is in your best interest to present a well-groomed professional image and make sure your staff members comply as well.

This professional image extends to the meeting location you choose, the marketing items you provide, and your presentation.

This is whether you want to borrow money, buy their house or sell them a home.

The first verbal message should be to gain rapport with the guests.  I share that I have lived in the area for 10 years and I have kids in school.  I establish credibility as a member of the community.  We are in this together.  If you lose, I lose - and I'm not gonna lose because I have a lot at stake.

The actual presentation sends one clear, consistent message such as "you loan me money and I'll give you high interest payments".  That's it.  While I have other facets to my business and other interests, I do not waiver in my message.

Sending a straightforward message in an easy-to-understand way, to convey credibility because there is no "small print."  You let them know this is a simple program.  These are the simple forms.  This is the way it works.  Period. 

Current action conveys credibility.  I always mention one of my most recent deals which is usually that I bought and/or sold a property yesterday or within the last few days.

In my presentation I acknowledge their fears and openly address a big one when I show the slide that says, "What Happens to my Investment if Alan Dies."  They usually chuckle because they thought of that but didn't want to say it.  I let them know that the corporation is structured to sell properties and their principle and interest will be paid as agreed.  Talk about credibility.  Have I not crossed all the T’s and dotted all the I's with this presentation? 

Also, If you say you are going to do it, DO IT.

Someone might be testing you by loaning a small amount just to see if you are for real.  Make sure you send them their interest check at exactly the agreed upon time for the correct amount.  I've seen this happen time and time again where the lender comes back a couple months later with more money.  Then a few months later they come back with even more money.  You must prove that you are for real and that you do what you say.

If you break that trust, it's over.

Finally, I build credibility by being reachable.  I have an office that they can stop by.  I have an answering service that picks up my calls 24 hours a day, 7 days a week and relays important messages quickly.  I have a web site where the lender can see what I'm doing and, they can send me email and I respond promptly.Credibility is powerful. Learn to use it to your advantage. 

Browse through www.kenyan-real-estate.com

Accommodation in Kenya: Considerations for a Landlord before Proceeding to Evict a Tenant

There comes a time when every landlord finds himself / herself in a difficult position of having his rental property occupied by a tenant who is not paying rent, or is making a nuisance of himself and causing problems for other tenants, or is causing immense damage to the rental unit, or his / her conduct makes it impossible to continue with a landlord / tenant relationship. Though, state laws governing eviction vary significantly, the following are a few tips to help landlords finding themselves in the unpleasantly messy situation of evicting a tenant.

As the owner of a significant number of residential units, it will be to your benefit to engage a lawyer to advice you on eviction issues, as well as, for handling legal actions. An established relationship with a lawyer is useful as he will carry out various legal tasks charging a flat fee only, whereas, hiring a lawyer on a case to case basis can result in much higher legal fees.

Evicting a Tenant for Non-payment of Rent

The eviction process involves serving a formal notice, informing the tenant the rent is overdue, and he / she faces possible eviction, if they do not pay on time. If a landlord is not knowledgeable about the legal terms of a notice, there are pre-printed forms which fulfil all legal requirements for a proper notice. In case, the rent arrearage has not been paid after the legally defined period i.e. usually, about a week, a landlord can begin eviction proceedings on the basis of non-payment of rent.

Bear in mind, if the tenant makes a partial payment during the eviction process, in most jurisdictions the acceptance of any payment of rent, even a small amount, can result in dismissal of the eviction lawsuit for non-payment.

Lease Violation

When a tenant does not comply with the terms of the lease he / she signed, a landlord must provide a written warning, referring to the lease clause being violated, and allow him / her time to remedy the problem. This is so the tenant cannot later claim ignorance that he / she did not know, they were in violation of the lease, or they received no notice of the violation. The judge will be in favor of the landlord if it is established the tenant ignored a prior notice and the deadline.

Health and Safety Issues

Certain tenants may pose a health or safety problem for other tenants or for the property, in general. In many jurisdictions, it is permissible for the landlord to evict tenants whose conduct is hazardous to the health of other tenants or can damage the property. First of all, a landlord should serve the tenant with a fixed period of time notice (a week) to remedy or repair the problem, or else move out. If no corrective action is taken, a landlord can proceed with the eviction proceedings.

Even if a tenant resolves the issue, but you still want him / her out, serve them a notice on eviction on health or safety grounds, as well as, a notice stating their tenancy is being terminated.

Bankruptcy

In the event a tenant files for bankruptcy, an automatic stay prevents a landlord from continuing with the eviction proceedings until the bankruptcy is resolved, or the bankruptcy court permits eviction proceedings to continue by lifting the stay. This may require a motion to be brought before the bankruptcy court, asking for the stay to be lifted.

Tenant Counter-Claims

When a landlord begins eviction proceedings, some tenant may bring counter-claims against the landlord, such as, inadequate maintenance of property or violation of the lease, and may ask the court to stop eviction proceedings or else for a substantial rent decrease in arrearage owed.

This is why it is good practice to keep written records of any complaints received from tenants about the rental unit or common areas, and steps taken by the landlord to resolve them, as also with warnings of tenant misconduct. Remember a landlord’s can preclude a tenant’s claim that despite repeatedly complaining about a problem with their unit, the landlord failed to respond with positive action, as long as the landlord has kept records of all interaction with the tenant and of action taken.

Trials

Before going to court, a landlord must ensure all his documentation in relation to the case is in order and there is nothing missing. Unless a landlord is conversant with the rental laws of his state and has had enough experience in eviction cases, it is also advisable to engage a lawyer, well versed in property law of the state a landlord’s rental property resides in.

The above should provide you with enough knowledge of what is required for a successful eviction. 

For more visit www.kenyan-real-estate.com

Curb Appeal is Key to Kenya Real Estate Investing

To sell a property for profit, you need to ensure that your property is attractive, and a large part of that is making a first great impression. Make sure that your property makes a great impression from the curb by cleaning, repairing, and using good color contrast. 

If you are interested in real estate investing for handsome profits, you need to consider the curb appeal of any property you wish to rent or sell. A big part of the real estate game is buyer and tenant psychology. One thing that researchers have found about tenants and home buyers alike is that emotional response accounts for a great deal of investor success.

In other words, the investors who can appeal to a tenant or buyer’s emotions -- and make the tenant or buyer imagine themselves in the property -- has the greatest chances of success. Curb appeal means improving the first impression that your property makes. Studies have shown that when the first impression of a property is positive, it is easier to convince a tenant or buyer to invest.

There are many ways that you can increase the curb appeal of your properties without a great deal of time and money:

1) Clean. A very tidy appearance is paramount to good curb appeal. Therefore, be sure to scrub the sidewalk, flagstones, walkway, windows, and siding. Mow the lawn, rake the leaves, clear the snow, and do everything you can to create the neatest possible appearance. You can do much of this yourself, although you may want to hire professionals or at least rent a high-pressure cleaning system for taking care of the exterior tiles or brickwork of a home. If the sidewalk outside your rental property or home is crumbled and in poor shape, you can generally contact the municipality to fix the problem.

2) Choose great colors. The color of your property goes a long way towards asserting good appeal. In general, you want to consider the colors of the properties around your property. If you are selling a suburban home, for example, located in a lot surrounded by pastel colored homes, you do not want to paint your property a right color. It would stand out too much. The right color blends well with the properties on either side of it. Make sure that the colors are fresh by applying a new coat of paint. Don't forget the colors around the property, either. A bright green lawn or even crisp white snow contrasted with the few pine trees create visual appeal as well. If you're interested in real estate investing, learn which colors to select, or hire a professional to select the right colors for you.

3) Repair. It should go without saying that you should ensure that everything outside is in good working order and looks attractive. This means that any broken walkways, bare patches on the lawn, and rickety shutters should be fixed up at once. You'll find more success in real estate investing if you are selling a property that people want to buy. 

Kindly visit www.kenyan-estate.com for more.

Creative Kenya Real Estate Investment

An example of creative real estate investment? When I was young, I had a job that paid Kshs.400 an hour, and I somehow saved enough to buy my first piece of real estate - 2 acres near where I lived. It cost Kshs. 400,000

I spent a few hours removing brush, outlined a driveway with logs, and hand painted a sign. Two weeks after I bought it I sold the land for Kshs. 600,000 with the capital gain, my annual return on investment was over 20%. This was my first real estate investment.

I bought the land cheap, because the seller needed fast cash. I solved his problem. I sold the land higher than the market value because the buyer needed easy terms. Second problem solved. Solving problems is the key to creative real estate investment.

Cell phone companies, radio stations, police departments and others need hill tops for their towers. The problem is that they can't tie up their capital buying them. One creative investor found a way to solve their problem.

He got six month options on hill top properties for a few millions shillings. Then, when he found those who needed them, he would get a long term lease signed. They built the tower themselves, of course. With a lease in hand, it was easy to get financing to exercise the option and buy the properties. He invested a few hundred dollars to create years of income.

Trees are needed by lumber mills. A friend of mine solved this problem by letting a company cut half the trees on his small property. They paid Kshs. 600,000, and I couldn't see the difference when they were done. The property was worth as much the day after the cut as the day before. My friend lived there, but a creative investor could buy property like his, sell half the trees, maybe clay or gravel too, and then re-sell the land.

To solve problems, you have to figure out what they are. Do people need easy terms? Cleared lots? Lumber? Better access to a piece of property? Smaller pieces of land? Condos instead of apartments? The list could go on. Just remember that solving problems is the key to creative Kenya real estate investment. 

Visit www.kenyan-real-estate.com

Creating Kenya Real Estate Notes Can Help Sell a House Quickly

Banks and mortgage companies have been selling mortgage notes in the secondary for years.  They even buy and sell those notes to other lending companies.  This most likely has happen to you or to someone that you know at some time or another.  Why do lenders do this?  They do it in order to keep a steady reserve of cash on hand to make other loans.

The information in this message is designed to help you understand about creating trust deeds, real estate notes, or if you have a business and have contracts you also have a business note which will bring you a cash flow that you can receive monthly payments, which brings you steady cash flows. You can also have the option to sell whole or part your real estate notes, trust deeds or business notes.  The whole idea here is to first elevate your potential of meeting a home buyer to sell your home to. 

Time and time again you might find houses that are for sale but are on the market for a very long time.  Most of the time home buyers don’t qualify for a 100% loan and must get 2 loans to equal the 100%.  The home seller can offer “Seller Financing” in order to get the house sold.

The home seller has one objective and this to sell that property as quickly as possible.  To do this you can create a trust deed which is secured by real estate.  This is a real estate note.  The real estate note has several purposes and the most important reason is to help the home seller close on the house.  

The trust deed that you now have is because you agreed to finance the home buyer so that the buyer could get the house and you can your cash at closing.  

Not only do you have cash at closing but you now have a real estate note that you will be receiving monthly payments on from the new home owner.  Your home is sold and you have residual income from the trust deed you created.  This creates steady cash flows from the trust deeds, real estate notes or business notes you may have. This is what “Seller Financing” is.  This occurs when the buyer makes regular monthly payments to you instead of the bank.  You now hold an asset that you can choose to keep for steady cash flow or sell part or all of it for cash right now.

This should motivate any home seller to give this a try, after all what could it hurt and it will be a win/win situation for the home seller, as well as for the home buyer.  “Owner-Financing” is widely accepted and is an alternative for the home buyer who can’t qualify for a conventional loan.  Even if you have real estate notes, business notes or trust deeds for a while you can generate cash flows by selling all or part of it for cash now.  

Isn’t that great news for the home seller?  This will give the home seller a boost in getting the house sold.  Most people would consider buying that house if the they knew that the home seller was willing to create a Kenya real estate note or trust deeds to secure the home buyer qualifying for the house.  Just envision selling your home much faster than your neighbor down the street because you possess the key to selling your home.  “Owner Financing”.

You also have created cash flows created from your real estate notes, trust deeds, or business notes and that can be the key to your financial future. 

Visit www.kenyan-real-estate.com