Real Estate
South East Asia Property Awards 2014 shortlist unveiled
Following months of meticulous and comprehensive deliberation and site visits, the shortlist for the fourth annual South East Asia Property Awards 2014 has been announced today. A total of 31 awards in the developer, development and design categories will be presented at the exclusive, modern black-tie gala dinner and awards presentation ceremony on Thursday, 16 October, at The Shangri-La Hotel in Singapore. The highly respected and independent panel of judges was able to narrow down eligible entries from Singapore, Malaysia, Indonesia, the Philippines and Vietnam to 82 shortlisted winners. “We are delighted to see such a diverse range of quality developers and projects from around the region on the shortlist for this year’s awards,” said Terry Blackburn, CEO, Ensign Media, the organisers of the awards and publishers of Property Report Magazine. “Each year, since its launch in 2011, entries for the South East Asia Property Awards have improved and the standard of competition as increased as a result. Indeed, it’s evident that leading developers are keen to be judged alongside their regional peers in one of the world’s most exciting property markets.” Nine outstanding firms are competing for the much-anticipated Best Developer awards: PT Intiland Development Tbk, PT. Lippo Karawaci Tbk, and Sinar Mas Land for Indonesia; CapitaLand Limited, Far East Organization, and Frasers Centrepoint Ltd for Singapore; and Nam Long Investment Corporation, Viet Hung Urban Development and Investment Joint Stock Company (Vihajico), and Vingroup Joint Stock Company for Vietnam. The Best Developers in Malaysia, the Philippines and Thailand were previously announced at the recently held country-specific awards, at the inaugural South East Asia Property Awards (Malaysia), the second Philippines Property Awards, and the ninth annual Thailand Property Awards. The shortlists for the most coveted awards of the evening—Best Developer South East Asia, Best Housing/Villa Development South East Asia, Best Condo Development South East Asia and Best Commercial Development South East Asia—will be compiled throughout the evening as winners from Indonesia, Singapore and Vietnam are announced. Meanwhile, the following regional property companies have already been selected as winners of the Special Recognition in CSR award, which celebrates the company with exemplary values in corporate social responsibility: Singapore’s CapitaLand Limited, Indonesia’s PT. Lippo Karawaci Tbk and Vietnam’s VinaCapital. A strong list of shortlisted developments will compete for a number of regional awards, including the Best Condo Developments in Singapore, Malaysia, Thailand, Vietnam and the Philippines; the Best Housing Developments in Singapore, Malaysia and the Philippines; and Best Residential Development in Indonesia. The Best Commercial Developments in Indonesia and the Philippines will also be named, as well as the Best Villa/Housing Development in Thailand and the Best Villa Development in Vietnam. Recognising the increasing importance of green and sustainable developments in Southeast Asia, the judges have shortlisted the following sustainable developments: CIBIS Tower 9 at CIBIS Business Centre by PT. Bhumyamka Sekawan, Ecopark Vietnam by Viet Hung Urban Development & Investment Company (VIHAJICO), and International Financial Centre Tower 2 Jakarta by PT Kepland Investama. In addition to the developer and development awards, the South East Asia Property Awards will also honour the most exceptional architectural and interior designs around the region, via the Best Residential Architectural Design, Best Commercial Architectural Design, Best Landscape Architectural Design, Best Hotel Architectural Design, and Best Residential Interior Design awards. “We wish the shortlisted companies the best of luck on the evening and also thank members of the public for their participation in the nomination process, as well as the judges for their dedication and commitment throughout,” added Blackburn. Prior to the awards, the editorial team at Property Report Magazine will also announce the winner of the South East Asia Real Estate Personality of the Year Award 2014, which recognises a leading industry professional who has made a significant and positive impact on the region’s property markets. This year’s experienced panel of judges comprise Robert Campkin, director, Pepper Group; Professor Roy Ling, managing director of RL Capital Management, Singapore; Desmond Hughes, senior partner, Hughes Krupica Consulting Co. Ltd.; Jason Pomeroy, founder and principal, Pomeroy Studio; Mink Tan, principal interior designer and architect, Minkarchitects; Chandran VR, managing director and key executive officer, Cosmopolitan Real Estate (CRE); Stephen Wong, managing director, Davis Langdon KPK, an AECOM Company, Singapore; and George Tan, senior director and head of Savills Associates. The regional panel heads are: Todd Lauchlan, country head, Indonesia, Jones Lang LaSalle (Indonesia); and Rudolf Hever, executive director, Alternaty Real Estate (Vietnam). They are joined by Cyndy Tarabata, Sunchai Neugsit and David Aboud who, respectively, headed the judging panels for the Philippines Property Awards, Thailand Property Awards and South East Asia Property Awards (Malaysia). Overseeing the judging process once again is Paul Ashburn, senior partner at BDO Advisory Limited, which has been fundamental to the Awards’ success and the high regard with which they are held by the real estate industry since its inception. Started in Thailand in 2006, the Asia Property Awards will have its next stop in Hong Kong this November for the first-ever China Property Awards, whilst the emerging property industry in Myanmar will host the inaugural Myanmar Property Awards in early 2015. For more information on the South East Asia Property Awards 2014, visit the website: www.asiapropertyawards.com/seapa Tickets for the gala dinner and awards ceremony, which will include a cocktail reception and lavish four- course dinner, live entertainment and extensive TV, print and radio media coverage, are still available and can purchased at: www.ensign-media.com. The shortlist of the South East Asia Property Awards 2014: Best Developer Vietnam – Nam Long Investment Corporation – Viet Hung Urban Development and Investment Joint Stock Company (Vihajico) – Vingroup Joint Stock Company Best Villa Development (Vietnam) – Eden Villas by Indochina Land – The Ocean Villas, Danang Beach Resort by VinaCapital – The Residences – Mia Resort Nha Trang – Vietnam by Cam Ranh Tourism Development Corp Best Condo Development (Vietnam) – Angsana Residences Lang Co Lang Co by Laguna (Vietnam) Ltd. (Banyan Tree Group) – Rừng Cọ Apartments by Viet Hung Urban Development and Investment Joint Stock Company (Vihajico) – SunView Town by Dat Xanh Real Estate Service & Construction Corporation Best Developer Indonesia – PT Intiland Development Tbk – PT. Lippo Karawaci Tbk – Sinar Mas Land Best Residential Development (Indonesia) – AYANA Residences Bali by MidPlaza Group – Kemang Village by PT. Almaron Perkasa – The Royal Kamuela Villas Senggigi by Latitude 8.1 Property Development Group Best Commercial Development (Indonesia) – CIBIS Tower 9 at CIBIS Business Centre by PT. Bhumyamka Sekawan – International Financial Centre Tower 2 Jakarta by PT Kepland Investama Best Developer Singapore – CapitaLand Limited – Far East Organization – Frasers Centrepoint Ltd Best Condo Development (Singapore) – Flamingo Valley by Frasers Centrepoint Ltd – Silversea by Far East Organization – Spottiswoode Residences by UOL Group Limited Best Housing Development (Singapore) – Brooks Collection @ Springside by Kallang Development Pte Ltd – Goodwood Grand by Tong Eng Brothers – Woodhaven by Far East Organization Best Condo Development (Malaysia) – Ferringhi Residence by Mah Sing Group Berhad – Fiera Vista by Ideal Property Development Sdn Bhd – Senibong Cove by Front Concept Sdn Bhd – Setia Sky Residences by SP Setia Bhd Group – The Republic by Elica Sdn Bhd – The Véo, Kuala Lumpur by Sime Darby Property Berhad – TriTower Residence @ Johor Bahru Sentral by MB Builders Sdn Bhd (Member of MB Group) Best Housing Development (Malaysia) – Senibong Cove by Front Concept Sdn Bhd – Sunway Montana by Sunway Melawati Sdn Bhd – Sunway Wellesley, Phase II by Sunway Bintang Sdn Bhd Best Condo Development (Philippines) – Abreeza Residences by Alveo Land – Admiral Baysuites by Anchor Land Holdings Inc. – ASiA Enclaves by Phinma Properties – Azure Urban Resort Residences by Century Properties – Crosswinds by Brittany Corporation – Marco Polo Residences Towers 1 and 2 by Federal Land Inc. Best Housing Development (Philippines) – Avida Parkway Settings Nuvali by Ayala Land Inc – Portofino by Brittany Corporation Best Commercial Development (Philippines) – Park Centrale Cebu by Cebu Landmasters, Inc – SM Aura Premier by SM Prime Holdings – The Globe Tower by Globe Telecom Best Condo Development (Thailand) – Amari Residences by The Nova Group – Baan Chiang Mai Riverside by Vorrawut Property Development Co., Ltd. – Baan Mai Khao by Sansiri PLC – Than Living Pracha Uthit by Kitha Properties Co., Ltd. – The Ritz-Carlton Residences, Bangkok at MahaNakhon by Pace Development Corporation PLC Best Villa/Housing Development (Thailand) – Orchid Palm Homes by SLM Real Estate Co. Ltd (Orchid Palm Homes) – Palm Villas by Ban Sanam Golf Limited – Point Yamu Villas by COMO by COMO Hotels & Resorts – Soul Ratchadaphisek 68 by AP (Thailand) Public Company Limited – The Ridge by Panoramic Estate Company – The Vineyard, Phase Three, La Residence by Bravothai Lifestyles Co., Ltd. – Toscana Valley Casa Del Artiste by Toscana Valley Company Limited Best Green Development – CIBIS Tower 9 by PT. Bhumyamka Sekawan – Ecopark Vietnam by Viet Hung Urban Development & Investment Company – VIHAJICO – International Financial Centre Tower 2 Jakarta by PT Kepland Investama Best Residential Architectural Design – Magnolias Ratchadamri Boulevard by Magnolia Finest Corporation Limited – Royal Kamuela Villas by Latitude 8.1 Property Development Group Best Commercial Architectural Design – The District Em by The Emporium Group Co. Ltd. – The Globe Tower by Globe Telecom Best Landscape Architectural Design – Bonifacio High Street by Fort Bonifacio Development Corporation – Kemang Village Lippo by PT. Lippo Karawaci Tbk – The Seawind by Bayshore Green Pte. Ltd. Best Hotel Architectural Design – Pan Pacific Serviced Suites Beach Road by UOL Group Limited – Point Yamu Villas by COMO Hotels & Resorts Best Residential Interior Design – Arya Residences by ArthaLand Corporation – Spottieswoode Residences by UOL Development Pte. Ltd. – The Residences – Mia Resort Nha Trang – Vietnam by Cam Ranh Tourism Development Corp – The Veo, Kuala Lumpur by Sime Darby Property Berhad Special Recognition in CSR CapitaLand Limited PT. Lippo Karawaci Tbk VinaCapital Best Developer (Thailand) Major Development PCL Best Developer (Philippines) Ayala Land Inc. Best Developer (Malaysia) Sunway Intergrated Properties Note: The following shortlist will be compiled throughout the night from the winners of the country categories: Best Developer (South East Asia) Best Housing/Villa Development (South East Asia) Best Condo Development (South East Asia) Best Commercial Development (South East Asia)
Following months of meticulous and comprehensive deliberation and site visits, the shortlist for the fourth annual South East Asia Property Awards 2014 has been announced today.
A total of 31 awards in the developer, development and design categories will be presented at the exclusive, modern black-tie gala dinner and awards presentation ceremony on Thursday, 16 October, at The Shangri-La Hotel in Singapore.
The highly respected and independent panel of judges was able to narrow down eligible entries from Singapore, Malaysia, Indonesia, the Philippines and Vietnam to 82 shortlisted winners.
“We are delighted to see such a diverse range of quality developers and projects from around the region on the shortlist for this year’s awards,” said Terry Blackburn, CEO, Ensign Media, the organisers of the awards and publishers of Property Report Magazine. “Each year, since its launch in 2011, entries for the South East Asia Property Awards have improved and the standard of competition as increased as a result. Indeed, it’s evident that leading developers are keen to be judged alongside their regional peers in one of the world’s most exciting property markets.”
Nine outstanding firms are competing for the much-anticipated Best Developer awards: PT Intiland Development Tbk, PT. Lippo Karawaci Tbk, and Sinar Mas Land for Indonesia; CapitaLand Limited, Far East Organization, and Frasers Centrepoint Ltd for Singapore; and Nam Long Investment Corporation, Viet Hung Urban Development and Investment Joint Stock Company (Vihajico), and Vingroup Joint Stock Company for Vietnam.
The Best Developers in Malaysia, the Philippines and Thailand were previously announced at the recently held country-specific awards, at the inaugural South East Asia Property Awards (Malaysia), the second Philippines Property Awards, and the ninth annual Thailand Property Awards.
The shortlists for the most coveted awards of the evening—Best Developer South East Asia, Best Housing/Villa Development South East Asia, Best Condo Development South East Asia and Best Commercial Development South East Asia—will be compiled throughout the evening as winners from Indonesia, Singapore and Vietnam are announced.
Meanwhile, the following regional property companies have already been selected as winners of the Special Recognition in CSR award, which celebrates the company with exemplary values in corporate social responsibility: Singapore’s CapitaLand Limited, Indonesia’s PT. Lippo Karawaci Tbk and Vietnam’s VinaCapital.
A strong list of shortlisted developments will compete for a number of regional awards, including the Best Condo Developments in Singapore, Malaysia, Thailand, Vietnam and the Philippines; the Best Housing Developments in Singapore, Malaysia and the Philippines; and Best Residential Development in Indonesia. The Best Commercial Developments in Indonesia and the Philippines will also be named, as well as the Best Villa/Housing Development in Thailand and the Best Villa Development in Vietnam.
Recognising the increasing importance of green and sustainable developments in Southeast Asia, the judges have shortlisted the following sustainable developments: CIBIS Tower 9 at CIBIS Business Centre by PT. Bhumyamka Sekawan, Ecopark Vietnam by Viet Hung Urban Development & Investment Company (VIHAJICO), and International Financial Centre Tower 2 Jakarta by PT Kepland Investama.
In addition to the developer and development awards, the South East Asia Property Awards will also honour the most exceptional architectural and interior designs around the region, via the Best Residential Architectural Design, Best Commercial Architectural Design, Best Landscape Architectural Design, Best Hotel Architectural Design, and Best Residential Interior Design awards.
“We wish the shortlisted companies the best of luck on the evening and also thank members of the public for their participation in the nomination process, as well as the judges for their dedication and commitment throughout,” added Blackburn.
Prior to the awards, the editorial team at Property Report Magazine will also announce the winner of the South East Asia Real Estate Personality of the Year Award 2014, which recognises a leading industry professional who has made a significant and positive impact on the region’s property markets.
This year’s experienced panel of judges comprise Robert Campkin, director, Pepper Group; Professor Roy Ling, managing director of RL Capital Management, Singapore; Desmond Hughes, senior partner, Hughes Krupica Consulting Co. Ltd.; Jason Pomeroy, founder and principal, Pomeroy Studio; Mink Tan, principal interior designer and architect, Minkarchitects; Chandran VR, managing director and key executive officer, Cosmopolitan Real Estate (CRE); Stephen Wong, managing director, Davis Langdon KPK, an AECOM Company, Singapore; and George Tan, senior director and head of Savills Associates.
The regional panel heads are: Todd Lauchlan, country head, Indonesia, Jones Lang LaSalle (Indonesia); and Rudolf Hever, executive director, Alternaty Real Estate (Vietnam). They are joined by Cyndy Tarabata, Sunchai Neugsit and David Aboud who, respectively, headed the judging panels for the Philippines Property Awards, Thailand Property Awards and South East Asia Property Awards (Malaysia).
Overseeing the judging process once again is Paul Ashburn, senior partner at BDO Advisory Limited, which has been fundamental to the Awards’ success and the high regard with which they are held by the real estate industry since its inception.
Started in Thailand in 2006, the Asia Property Awards will have its next stop in Hong Kong this November for the first-ever China Property Awards, whilst the emerging property industry in Myanmar will host the inaugural Myanmar Property Awards in early 2015.
For more information on the South East Asia Property Awards 2014, visit the website: www.asiapropertyawards.com/seapa
Tickets for the gala dinner and awards ceremony, which will include a cocktail reception and lavish four- course dinner, live entertainment and extensive TV, print and radio media coverage, are still available and can purchased at: www.ensign-media.com.
The shortlist of the South East Asia Property Awards 2014:
Best Developer Vietnam
– Nam Long Investment Corporation
– Viet Hung Urban Development and Investment Joint Stock Company (Vihajico)
– Vingroup Joint Stock Company
Best Villa Development (Vietnam)
– Eden Villas by Indochina Land
– The Ocean Villas, Danang Beach Resort by VinaCapital
– The Residences – Mia Resort Nha Trang – Vietnam by Cam Ranh Tourism Development Corp
Best Condo Development (Vietnam)
– Angsana Residences Lang Co Lang Co by Laguna (Vietnam) Ltd. (Banyan Tree Group)
– Rừng Cọ Apartments by Viet Hung Urban Development and Investment Joint Stock Company (Vihajico)
– SunView Town by Dat Xanh Real Estate Service & Construction Corporation
Best Developer Indonesia
– PT Intiland Development Tbk
– PT. Lippo Karawaci Tbk
– Sinar Mas Land
Best Residential Development (Indonesia)
– AYANA Residences Bali by MidPlaza Group
– Kemang Village by PT. Almaron Perkasa
– The Royal Kamuela Villas Senggigi by Latitude 8.1 Property Development Group
Best Commercial Development (Indonesia)
– CIBIS Tower 9 at CIBIS Business Centre by PT. Bhumyamka Sekawan
– International Financial Centre Tower 2 Jakarta by PT Kepland Investama
Best Developer Singapore
– CapitaLand Limited
– Far East Organization
– Frasers Centrepoint Ltd
Best Condo Development (Singapore)
– Flamingo Valley by Frasers Centrepoint Ltd
– Silversea by Far East Organization
– Spottiswoode Residences by UOL Group Limited
Best Housing Development (Singapore)
– Brooks Collection @ Springside by Kallang Development Pte Ltd
– Goodwood Grand by Tong Eng Brothers
– Woodhaven by Far East Organization
Best Condo Development (Malaysia)
– Ferringhi Residence by Mah Sing Group Berhad
– Fiera Vista by Ideal Property Development Sdn Bhd
– Senibong Cove by Front Concept Sdn Bhd
– Setia Sky Residences by SP Setia Bhd Group
– The Republic by Elica Sdn Bhd
– The Véo, Kuala Lumpur by Sime Darby Property Berhad
– TriTower Residence @ Johor Bahru Sentral by MB Builders Sdn Bhd (Member of MB Group)
Best Housing Development (Malaysia)
– Senibong Cove by Front Concept Sdn Bhd
– Sunway Montana by Sunway Melawati Sdn Bhd
– Sunway Wellesley, Phase II by Sunway Bintang Sdn Bhd
Best Condo Development (Philippines)
– Abreeza Residences by Alveo Land
– Admiral Baysuites by Anchor Land Holdings Inc.
– ASiA Enclaves by Phinma Properties
– Azure Urban Resort Residences by Century Properties
– Crosswinds by Brittany Corporation
– Marco Polo Residences Towers 1 and 2 by Federal Land Inc.
Best Housing Development (Philippines)
– Avida Parkway Settings Nuvali by Ayala Land Inc
– Portofino by Brittany Corporation
Best Commercial Development (Philippines)
– Park Centrale Cebu by Cebu Landmasters, Inc
– SM Aura Premier by SM Prime Holdings
– The Globe Tower by Globe Telecom
Best Condo Development (Thailand)
– Amari Residences by The Nova Group
– Baan Chiang Mai Riverside by Vorrawut Property Development Co., Ltd.
– Baan Mai Khao by Sansiri PLC
– Than Living Pracha Uthit by Kitha Properties Co., Ltd.
– The Ritz-Carlton Residences, Bangkok at MahaNakhon by Pace Development Corporation PLC
Best Villa/Housing Development (Thailand)
– Orchid Palm Homes by SLM Real Estate Co. Ltd (Orchid Palm Homes)
– Palm Villas by Ban Sanam Golf Limited
– Point Yamu Villas by COMO by COMO Hotels & Resorts
– Soul Ratchadaphisek 68 by AP (Thailand) Public Company Limited
– The Ridge by Panoramic Estate Company
– The Vineyard, Phase Three, La Residence by Bravothai Lifestyles Co., Ltd.
– Toscana Valley Casa Del Artiste by Toscana Valley Company Limited
Best Green Development
– CIBIS Tower 9 by PT. Bhumyamka Sekawan
– Ecopark Vietnam by Viet Hung Urban Development & Investment Company – VIHAJICO
– International Financial Centre Tower 2 Jakarta by PT Kepland Investama
Best Residential Architectural Design
– Magnolias Ratchadamri Boulevard by Magnolia Finest Corporation Limited
– Royal Kamuela Villas by Latitude 8.1 Property Development Group
Best Commercial Architectural Design
– The District Em by The Emporium Group Co. Ltd.
– The Globe Tower by Globe Telecom
Best Landscape Architectural Design
– Bonifacio High Street by Fort Bonifacio Development Corporation
– Kemang Village Lippo by PT. Lippo Karawaci Tbk
– The Seawind by Bayshore Green Pte. Ltd.
Best Hotel Architectural Design
– Pan Pacific Serviced Suites Beach Road by UOL Group Limited
– Point Yamu Villas by COMO Hotels & Resorts
Best Residential Interior Design
– Arya Residences by ArthaLand Corporation
– Spottieswoode Residences by UOL Development Pte. Ltd.
– The Residences – Mia Resort Nha Trang – Vietnam by Cam Ranh Tourism Development Corp
– The Veo, Kuala Lumpur by Sime Darby Property Berhad
Special Recognition in CSR
CapitaLand Limited
PT. Lippo Karawaci Tbk
VinaCapital
Best Developer (Thailand)
Major Development PCL
Best Developer (Philippines)
Ayala Land Inc.
Best Developer (Malaysia)
Sunway Intergrated Properties
Note: The following shortlist will be compiled throughout the night from the winners of the country categories:
Best Developer (South East Asia)
Best Housing/Villa Development (South East Asia)
Best Condo Development (South East Asia)
Best Commercial Development (South East Asia)
Continue reading here:
South East Asia Property Awards 2014 shortlist unveiled
Real Estate
Miami – A Great Place to Buy Real Estate
Miami has evolved into a cosmopolitan wonder city under the sun. Famous for its great beaches, this city has also earned a reputation of being a sexy, marvelous and trendy place to live. From amazing golf courses like the one at Crandon Park in Key Biscayne to the Miami Metro Zoo, this beautiful city has something to offer to everyone. Owning a piece of paradise is a dream within reach of locals and foreigners as well. People from all parts of the world have already taken advantage of the great opportunities available today in the marketplace.
Miami has some of the most amazing real estate developments like the astonishing Santa Maria located in Brickell, or the unbelievable towers of Icon Brickell. Some other exclusive and impressive Miami condos include, the Jade at Brickell, the 900 Biscayne in downtown Miami, the fabulous Trump Palace in Sunny Isles Beach and the astonishing Icon South Beach just to name a few. These modern Miami luxury condos have all the comforts and amenities only found in five star hotels.
The city of Miami has it all, great golf, amazing beaches, a turquoise beautiful ocean, a warm weather, excellent shopping, an electrifying night life, lots concerts, entertainment and sports events at the famous America Airlines Arena in downtown Miami.
Miami real estate buyers are as diverse as the city culture and population itself. Buyers come from all over the globe, Europeans, Latin Americans, and Asians and of course buyers from all around the United States. Some have chosen this beautiful city to have a second home and some have fallen in love so much that they now call Miami their home making it an exciting melting pot to live in.
Real Estate
Real Estate Investor's Secret Weapon
Real Estate Investors have a unique tool in their arsenal that other types of investors do not. One of the oldest tax code sections is 1031. This secret weapon is called a 1031 exchange. It is one of the few areas of the tax code where the US Government allows taxpayers to sell an asset and not immediately pay the taxes. Even State taxes are deferred. The way a 1031 Exchange works is simple. If you sell piece (s) of investment property, and you are want to buy of another piece (s) of investment real estate of equal value, you can defer indefinitely all taxes (capital gains (15%), recapture tax (25% ) and state income tax). This is the benefit: by not having to pay those taxes, you can keep your money (instead of giving it to Uncle Sam) and smartly reinvest it for yourself to grow your real estate portfolio. 1031 is a free financial tool that let you keep 15-30% of taxes you would have had to pay. In the world of increasing taxes, 1031 is a viable alternative.
There are some guidelines that need to be followed, and I will break them down. First, what is investment real estate? Investment real estate is defined as property used in a trade or business. It could be used to run your office or it could be rental property. One of the nice flexible features of 1031 is that all real estate is exchangeable. This means that a home can be exchanged for a condo or a piece of land can be exchanged for a commercial property. I use the rule of thumb that any property with a deed can be exchanged for another property with a deed. The other nice feature is that you can sell one property and purchase more than one replacement property or vice versa.
There are three main rules that investors need to know about 1031 exchanges. First of all, you must use a Qualified Intermediary (an Independent Middleman) to help facilitate your 1031 exchange. The QI, as they are called will do many things including prepare the Exchange Agreement, Escrow your 1031 proceeds, and most importantly make the exchange go smoothly. The QI must be hired prior to the closing of the relinquished property. Secondly, the Exchangor (the person doing the exchange) has 45 days from the closing date of the relinquished property to identify the replacement property. Identification means to list (not go under contract) up to 3 properties of any value and send them to the QI. Finally, the Exchangor has 180 days (from the date closing on the relinquished property), to close on one of those three identified replacement properties.
I don't want to over simplify 1031. Please consult your tax advisor in addition to your Qualified Intermediary to analyze your exchange and to be sure you are making the best tax decision. I do believe the rule of thumb should be if you want to keep your money invested in real estate, then 1031 is a tool you must consider.
1031 can be a potent weapon for the smart real estate investor. There is nothing worse than having a client not consider 1031 or not have their real estate professional tell them about it and the relinquished real estate closes and the client changes their mind. After the relinquished property closes, it is too late to do an exchange. 1031 is an efficient tool for an investor to build their portfolio. Plan your transactions and watch your real estate fortune grow.
Dave Owens, CPA, CES is the managing Member of Entrust 1031 Exchange. Dave and his staff have successfully performed over 10,000 exchanges since 1997. Entrust has an arsenal of tax free strategies. Feel free to contact Dave for more information or questions at 239-333-1031 or owens66@entrustfreedom.com .
Source by Dave Owens
Real Estate
How to Become a Successful Real Estate Developer
Real estate investment and development has never been a more popular pastime or career changing challenge; if you would like to learn seven secrets for consistently successful real estate investing through development or you would like to know how you can continue to profit from property even if the market takes a downward turn just read on …
1) Do Your Location Homework – did you know that through successful and sustained location research professional property investors actually continue to profit during a market down turn? It's true – whatever the market conditions you can apply their location research approach to your real estate investments and also make consistent profits from property.
Take the necessary time to learn all about a town or city you're considering for your next property development purchase and discover where the up and coming areas of that town are likely to be. If there are inner-city redevelopment projects planned examine the real estate market in the immediate vicinity, if there are areas that are booming right now examine the immediate neighboring areas for their potential for future prices arises for example.
Do not follow the crowd – have the confidence to buck the trend and get ahead of the curve by positioning yourself in a market that is about to boom rather than one in that has already blossomed.
2) Know What You Can Afford – While it can pay to sometimes speculate never be tempted to jeopardize your own home. Work out your finances and be ruthlessly strict about what you can and can not afford as a down payment, for mortgage costs and for the renovation and redevelopment of your next real estate investment. Only proceed within the confines of your tightly allocated budget and do not be tempted to over extend yourself specifically if competition in the property market is tough and the market is slow or stagnant.
3) Identify Your Target Market – Having identified your next location for property investment identify the types of people who buy into renovated assets in that location. Know who your target market are going to be and what they are likely to look for in a property in that location. If for example you're examining inner-city spaces you might identify that your buyers will be young single professionals and that the ideal property type for these people will be luxury low maintenance apartments – seek out suitable properties with the potential for redevelopment into luxury low maintenance apartments and you will fulfill your target market's brief … seek out large homes with substantive gardens in the area and you will have totally missed the market and potentially created a property that will not sell!
4) Renovation Not Rebuild – Know your budget limits and your personal skill restrictions. Do not consider taking on a property that is in need of a complete structural overhaul when your budget is tight or you do not personally have the time, skills or inclining to do the structural work yourself. Be realistic about what you and your budget can achieve and seek properties that fulfil that brief. Pay to have an independent and complete survey done on any property you are seriously considering buying before making a down payment to ensure that there are no hidden surprises waiting for you benefit the floorboards to eat up your budget in its entity.
5) Manage Your Budget – With your survey in hand you can approach builders for statements and seek out prices for fixtures, fittings, finishes and furnishings. Take the prices quoted and sourced and build your budget. Factor in overwriting mortgage and service costs and labor costs as well as your findings and structure and allocate your money accordingly. Watch every single spend and be ruthlessly strict with yourself and your builder. If at all possible have your builder commit to a contract with fixed finish dates and fees and stay on top of every single penny or cent every single day. At the end of each week tally up your outgoings and expenditure and ensure you're not exceeding your budget. If you're overspending rein it in or you will have to shave it off other areas of the development. Remember never to scrimp and save on finishing touches and always give yourself a realistic fall back fund in case of emergencies.
6) Appeal To The Widest Market – Forget putting your personal stamp on any property you develop – you are not going to be living in the property! You should already have identified your target market which will give you a good idea of the level and quality of finish expected, now meet those expectations without adding your own personal taste into the equation. By appealing to the widest market or the lowest common denominator your property will be attractive to the majority of buyers making it faster and easier to sell on and profit from.
7) Make Friends With A Real Estate Agent – Your greatest ally when developing property will be your real estate agent. Make friends with these guys and you will build a beautiful and successful symbiotic relationship in which you both profit to the maximum! Real estate agents are a fountain of untapped knowledge about the local market, who is looking for what property in which area, which additional features cost little to add but which push up the asking price and what a buyer expects from your particular property type. Get the facts from your real estate agent and then apply their advice. You will create a property they can market for top dollar and to the widest market – you will make more profit and they will make a larger commission including a beautiful and lasting friendship!
Finally, remember that when you've bought, renovated and sold on you'll be looking for that next property opportunity and any real estate agent who you've worked with well will be on the hunt for suitable real estate for your next investment making any identical purchases that much easier to source.
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