Algarve Hot Properties
Wednesday, August 30, 2006
  Save $100,000 on Your Next Home By: Robert G. Allen

One of the most important principals of creating wealth is to own your own home. The average family pays full retail price for their average home without thinking about the enormous financial consequences of their decision.


Your house will be the BEST or the WORST financial decision of your life!


Let me show you how to pay wholesale prices for your next house.


It's easy when you know how.


Let's take a simple example:


A $100,000 house with a fixed rate mortgage of 8% will have mortgage payments of $733.76 for 30 years or 360 months for a total of $264,155. In other words,


$100,000 principal payments
$164,155 interest payments
$264,155 total payments for house


Technique 1 - Never, EVER pay retail for Real Estate


There are 9 ways to find bargain properties that you can buy at wholesale prices.I go into detail on these 9 ways in my new book, Multiple Streams of Income.
Using one of these methods, you set a goal to buy your next house at least 20% below market. I’m assuming that you’ll also buy it with little or no money down using the ideas in my all time best selling real estate book, Nothing Down. Therefore, you’ve saved $20,000 by using patience and some bargain hunting skills.


Technique 2 - lower price gives you an immediate lower monthly payment


Not only will you save an immediate $20,000, but look at what happens over thelife of the loan. By buying right, your new loan will be $80,000 instead of$100,000. This will lower your monthly payments from $733.76 to 587.01. That'san immediate monthly savings of about $150. Not bad. Over 30 years, thisamounts to $52,830 in interest savings! Now you can see how just a few smartmoney decisions can have enormous impact on your financial future. But let's not stop there.


Technique 3 - Negotiate the lowest interest rate!


Is it worth the hassle to shop around for a ‡% to 1% lower interest rate?Let's run the numbers. If you could get your mortgage for 1% less, your mortgage payments drop to $532.24...or about $55 less per month. Over 30 years this amounts to almost $20,000! Is that worth a few extra hours of shopping? Every 1/2% drop in interest saves you $10,000. Seller financing can be even more exciting than bank financing.


Technique 4 - Own your home debt free in half the time!

One of the most popular loans today is the 15 year mortgage. There are even 10 year mortgages. I don't recommend either of these loans. I recommend instead that you get the traditional 30 year loan...for the sake of flexibility...but that you voluntarily increase your monthly payment to the bank in order to payoff your loan much faster. For example, the previous example had monthly payments of $532 on an $80,000 mortgage over 30 years. By increasing your payments by only $187 per month, you will pay off that loan in 15 years instead of 30. And save yourself those last 15 years of payments. This will save you $95,000!

 
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Thursday, August 10, 2006
  Property: Centenary property for reconstruction
Here’s a rare piece of property: a Centenary Palace, located within the old city of Faro limits. Part of the medieval wall, that surrounded the city, is actually part of the property.
What can you Find Here?

600m2 of construction area, divided by 21 rooms and a private 530m2 gardens, surrounded by the centenary walls in total privacy. This garden features ancient trees and with a bit of work, can be turned into a paradisiacal retreat. Had it a pool and you can’t ask for a better place in the middle of the city.

The Property needs major repairs and it can be turned into one luxury mansion, or castle, for that matter. It can be turned into a small family, luxury condominium. Or it can be transformed into a nice B&B. It’s your call.



Curiosity:
Back in 1858, the property owner; the Count of St.ª Maria Cape, whom was also the city President, had a watch tower built in the wall (still there, standing still). The purpose of that tower was to help communications between him and is Employees. This count was also the owner of a tuna fishing company. Whenever the fisherman’s would return from the sea, they would lift a flag. The colour of this flag would tell the watchmen in the tower, how many Kilos were fished that day.
 
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Wednesday, August 02, 2006
  Property: Rehab project on the beach


This is a commercial property comprising guest house, restaurant and apartment which has the potential to be converted to various other uses.
With stunning panoramic views over one of the most beautiful beaches of the Algarve and the Atlantic Ocean, a better location for almost any enterprise would be hard to find.

This property offers an exciting challenge to someone with imagination and flair.
Situated atop the cliffs of the Beach, in the heart of this large resort by a bustling estuary town, this property has huge potential for the creative developer or entrepreneur during a time of massive growth in the area.
There’s a catch! This property is situated in the main strip, with massive night life most part of the year, only comparable to Ibiza. Now, how do you look at the cup? Is it half empty? Or is it half full?

Overlooking the Atlantic Ocean and the beach to the South, alongside the main promenade to the North This incredible property is just waiting for its new owner to give it a new life.

Have a look at the pictures. If you like what you see and feel that this could be your project, just contact me.


The beach in front.

The building. The property actually finishes on the beach!


 
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Real Estate in Algarve, notes of interest & hand-picked properties in the Sunniest Place in Europe!

Name: DivertidoAlvaro Justino
Home: Vilamoura / Algarve
My contact: 00351 963 641 946
My email: alvarojustino@gmail.com
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Save $100,000 on Your Next Home By: Robert G. Allen

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