Real Estate Consulting

REAL STATE Consulting

We strive to provide the best service and quality in each of our areas of expertise. We specialize in two different areas of investment consulting:

Iraca Consulting and Investing Services Corp.

The fact is that all of us are trying to have a better life; we are trying so hard that we are sacrificing our family quality time to work harder and achieve more. Why? Because we want to have a better quality life; we want to have good house, good car, good education for our kids and to have some extra money to travel to different parts of the world and have fun. For many of us, making decisions about a buying a house in which to raise our kids and see them grow in a comfortable environment is one of our biggest decisions in life. You need to buy a house that will appreciate in value and also have all of the factors that you are seeking.

For successful real estate investing, you need to make sure that the following three factors are ready:

  • You
  • Your Financials
  • The Market

You have to ask yourself, why do you really want to buy a house? What is your motivation? Do you want to buy a house that you are going to live in,or it is a house that you will buy for an investment. The following chart shows some of the questions that you need to ask yourself and the process that you need to follow to make sure that you know what kind of new house you need.

Iraca Consulting and Investing Services Corp.

This process requires some research and also requires patience and can be time consuming. You need to make sure that you and your family are happy with the decision and at least know about 70 percent of what you are looking for.

The Financials

You need to know how much money you have to put aside to buy a house and assign your budget. Experience shows that 90 percent of the time, buyers will end up buying a house for more than their budget. Therefore, it would be wise to aim a little bit lower than your budget. One of the most important factors to defining your budget is to find out how much you can borrow from a financial institution. Almost 99 percent of the time, the buyer relies on the mortgage that he can get from a financial institution. The complicated mortgage calculations at different institutions makes it difficult to get a mortgage which is really suited to the buyer’s needs. So the more that you know about their rules and your needs, the better the mortgage that you can achieve.

The fact is that no buyer has enough time and knowledge to review different financial institutions’ rules and, even if you are willing to put in all of this effort, finding the right person to present your file in a manner that convinces the creditors that your financial status is a fit with the property that you are planning to buy is another big challenge.

In brief, you need to present your financial information, namely your assets, income and your debts,to the financial institution, along with your credit report, then the financial institution will review your file and calculate their financial index. If the calculated indexes are in the range that they would like to see, then you are approved. But the unwritten rule is that this process has many gray areas of which you, as one buyer are not aware, and it is possible that you will end up getting a mortgage that is much more expensive than what you could obtain if you know about all of these gray areas, or end up getting a mortgage amount much lower than what you deserve and hence cannot achieve the goals of your life.

Knowing which mortgage you need to get is another challenge. Open or closed mortgages, variable or fixed rate and terms you need to have; these are all questions that you need to have answered and the answers are different from one applicant to another, because everyone has different perspectives and goals in their lives.

Knowing the market is very important. In one neighborhood, the house prices can change from one block to the next. Even two houses in one block can have different pricing. The factors such as views, slopes, easements, setback, future city development plans, green belts, traffic, creeks, trees, covenants, liens, zoning, bylaws, etc., are very important in forming a price for a property. In the current, hot real estate market in Greater Vancouver, having this information can give you very strong bargaining power. You need to buy a property that, if you need to, can be sold quickly in any market for a good price and a property that has very good potential for appreciation.

The above few paragraphs illustrate the complicated process of acquiring a property. These are all Iraca Consulting and Investing areas of expertise. We have enough experience and connections to assist you in any step of this difficult process and we can advise you of the best properties fit your goals. With Iraca Consulting and Investing Services, you don’t need to worry about getting the mortgage; we are here to help you with the best options. We know the market and if you have to sell, or buy a property, we can advise you about the best time in the market that you need to buy and we can find you the best house in a location that can fit into your budget. Just book a free half hour consulting session with one of our agents and you will quickly see what your options are.

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