The most common mistakes before investing in real estate

Real Estate is a field where preparation and research are required to make a successful deal. Doral Riches is a team of professionals, and during all our experience, we’ve taken some advice and tips regarding the Real Estate and Property business. Can you identify the most common mistakes?

1.    Start without a business plan: When you have a project in mind, sometimes the excitement takes over and you can make any type of mistakes. If you don’t present a short-term or long-term plan, you can appear unprofessional. It’s important to have your objectives clear, know your market and your audience, the investment needed to start your project, and the solutions to possible problems in the future.

2.    Not knowing your strengths and weaknesses: Analyze this internally: what skills should be improved or which ones should you use more? It’s important to work with the resources you have.

3.    Everyone has something new to bring to the table: If you think that everything is done and you have nothing new to propose, then you’re wrong. Even though it seems there’s a formula, trust your potential and your talents.

4.    Lower your prices: Some clients think that a business is completely negotiable if you lower your prices. While for some it’s the only solution, it’s smarter to find a differential in your business and offer the type of negotiation that doesn’t have a comparison.

5.    Procrastinate: Change your focus all the time, not doing everything on time. While it’s easy to move dates around when there’s so much going on, it’s important to set dates and times when an activity will start and end, since this leaves a good impression in customers.

Although doing business in Real Estate can be intimidating at first, by finding your own style and knowing your strengths you’ll have a great advantage. Doral Riches is here to help you during the process; all you have to do is contact us.

Spring Break in Miami – What to do?

Spring Break is just around the corner. Those days where you can let go of a busy routine and just enjoy some time off with your family and friends. The amount of activities can be overwhelming, and some of them require to have booked months ahead. If you still don’t know what you want to do, we’ll offer you some options so you can enjoy the best Spring Break of your life in Miami!

If you’re a nature lover, the first activity you can enjoy is visiting some of our best beaches. Here, you can enjoy a lovely sunbath, a time of relaxation, or you can even socialize with the rest.

Now, if you prefer the quietness and privacy pools can offer, there are places like The Miami Beach EDITION, an exclusive pool designed by Ian Schrager. Following the trend of 1950s Art Deco, you can enjoy not one, but two private pools and a bar. You can also book a few days in The Confidante, heated and private pools with a “remote island” treatment.

After a long day lounging in a pool, you can enjoy the best nightlife Miami has to offer: pool parties like the Full Moon Swim at Broken Shaker, celebrated every year on a Full Moon, or the Meet Me Upstairs, hosted in the beautifully designed SLS Brickell. But what’s Miami Beach without some of the most extravagant clubs? Basement, Story, Ora, Trade, Score are some of the options if you’re ready to party.

On the other hand, Miami has options if you’re coming with your family. You can visit museums, like the Frost Museum of Science and the Miami Children’s Museum, or take tours around the city; you can see animals up close in the Zoological Wildlife Foundation, or create some artsy memories at the Wynwood Walls.

Enjoy Miami the way you prefer, but when you start to plan out, choose Doral Riches to rent a place for you, or start to invest in a second home, so you can enjoy an eternal Spring Break in sunny Miami. Contact us!

How to run a successful open house?

At Doral Riches, we encourage all of our clients to find new ways to promote their homes for potential buyers, and one of the best ways to do it is by hosting an open house. Many other real estate companies advise against it, but what they are actually trying to do is making themselves indispensable. At Doral Riches, we are well aware that the more help you can get, the better, and at the end of the day, we are only trying to help you sell your home; that’s why we decided to write this article and give you some pointers about how to host your own open house.

Marketing and showing your own house takes time and research, but if you already decided that you want to do it, these useful tips might help you. Open houses are usually held on non-holiday Sundays, but this doesn’t mean you can’t hold yours another day. Saturdays might work too, but Sundays usually work a little better because people tend to be less busy.

One great way to start would be by going to other open houses in your neighborhood and see what your competition is doing. Hearing real estate agents talk about the features of the home they are promoting and checking how the audience reacts to the sale pitch is a great way to learn what to say and what not to say when you hold your own open house. Another great tip is to check when other open houses are held nearby, so you can host yours the same day, that way you could get more traffic from potential buyers interested in your neighborhood.

Get your home ready! Every inch of your place should be spotless and clean, especially the kitchen and the bathroom. Make sure that some natural light gets in, everything will look much better with daylight. If anything is broken, you should definitely fix or replace it before getting anyone into your home. Also, try to reorganize your furniture to make your home seem more spacious.

Once you’ve managed to get potential buyers into your home, there are some things you should definitely do, like handing out brochures with all the details of your home. What you should include: address (of course!), asking price, square footage, photos of the interior and exterior, description of the property, number of bathrooms and bedrooms, any upgrades you’ve made, amenities in the building or neighborhood, school information, and your contact information (including the URL address to the site where your home is published). You should also prepare a sheet where your guests can write their names, phone numbers, email addresses and other means of contact.

Be a good host and offer simple snacks, like cookies, water and maybe juice of any kind. Remember not to be over your guests’ shoulders the entire time, give them space to look around and explore your home. And at Doral Riches, we will always recommend that you let one of our professional realtors help you plan and host the entire event. 

Working with Doral Riches

The Real Estate business is a solid one. Investing in land, properties, and becoming a landlord is all very exciting, and it’s without a doubt one of the safest, most stable ways to create wealth. It takes a lot of character, patience and resolve, but with the right guidance, it can even become a very enjoyable experience. Work with Doral Riches and start setting in motion all your plans to achieve all your goals in life.

Whether you are a newbie or an experienced investor, having the proper guidance and working with the right people is essential, because the real estate business is always changing and it can be overwhelming sometimes. 

Especially in places like Doral and Miami, where prices vary almost every month due to the high demand and the constant news about new developments, new malls, and new general investment opportunities that will affect everything around them, investing correctly can be quite difficult.

Is 2018 a good year to buy a home?

Absolutely! Experts from all around the world will say that the best year to invest in Real Estate was five years ago, meaning that every day is a good moment to start, because the sooner you enter, the sooner you’ll start to see your profits or reach the financial stability to pursue new, more challenging and promising endeavors.

 

Why Do I Need A Professional Realtor or Real Estate Company?

Working with professionals is essential for a number of reasons. At Doral Riches, we offer not only exclusive numbers and real projections about the market, we also provide unique knowledge gathered through the years by everyone in our ranks. 

We know the market in Doral, we know every neighborhood, and we know the people; we have the right tools to make a perfect match between your ideal home and you. Being a real estate company doesn’t just mean listing properties and setting prices, our work goes far beyond that. At Doral Riches, we know how to translate your desires into actions towards your goals, and this applies to both sellers and buyers. 

If you are buying your first home, you probably don’t know how unnecessarily difficult all the legal issues and paperwork are. In our services, we include handling all of this so you don’t have to waste too much time dealing with it. We are committed to all our distinguished clientele, and even after our work is done, we will continue helping you, even if it’s just for some simple advice on what to do next. 

We create real relations with our clients and construction companies, and we work as matchmakers between people and great opportunities. Contact us anytime so we can start working together here in Doral.

“Location, Location, Location”: The Real Estate Mantra

When searching for a new home, the word “location” is always present. This seems to be what investors look for the most when buying a new property. If you’re planning to move to a new house in 2018, then you should pay careful attention to it, since location might determine your comfort and the value of your investment. 

This mantra didn’t come as an accident; there’s a reason why location is an essential factor in the real estate market. If you buy in a great location, then you will secure the future value of your investment, but a not-so-great location might make you lose money in the long run. Keep reading to find out what you should take into consideration when evaluating a property’s location.

The first things you have to evaluate are your needs and your family’s. If you have kids or you’re planning to, then that’s a game changer. If you have a family, the first thing you have to think about is the little ones in the house and their quality of life. The neighborhood and schools are important factors to take into account. You will want to live in a kids-friendly neighborhood, where they can socialize with other kids, feel free to play outside, and have lots of activities for them to grow around. But fun isn’t everything, you also have to think about their education. Before making your final decision, learn about the school district in order to guarantee a great education for your kids. 

Family or not, you should always search for safety, not only for them, but also for yourself.  Living in a safe neighborhood can save you a lot of headaches. You will have great sleep at night and you won’t have to worry about being alone on the streets. You can even reinforce that safety feeling by choosing a neighborhood that’s near to your family and friends. This way, if you have an emergency, you can easily call them and they will be there shortly. Also, this way you won’t have to travel for hours to see your loved ones, and you can visit them anytime. 

Another important decision when thinking about your next home’s location is choosing between the city, the suburbs, or the countryside. If you’re a very active person, living in the city might be your thing. However, if you enjoy peace and quiet, then this might not fit your needs. Think about the pace you want to take in your life, it varies between those three settings.        

Also, you have to think about your daily needs. Entertainment, medical needs, activities you enjoy, work, shopping: these are all important factors you need to take into consideration. Depending on your priorities, you might want a location closer to work, or one where you can go out at night and have fun. Look up what you will have near home, the time you would take to get from one place to another, and the things you won’t enjoy as easily if you buy that particular home in that particular neighborhood.

Before buying a home with a realtor, you might want to explain to him/her what your needs and priorities in life are. This can be very helpful information for the realtor to show you houses that fit you best and adapt to your demands. 2018 is the year for your dream home!

Millennials: what are they looking for in Real Estate?

You’ve all probably heard this word constantly: “Millennials”. This is the new generation of investors that was born between 1980 and 2000. They have all grown up and now they are looking for new horizons, so buying a home is their next step in life. Technology is their anthem and social media is their flag, the real estate market is of a whole different shade for them than it was for prior generations. Keep reading to find out what millennials want when looking for a home, it might even change your own perception of the market.

Millennials have one thing straight: being practical is a priority. This is the generation of fast, easy, and immediate transactions. Saving time is saving money, it all has to be quick and instant. This is why millennials usually look for properties that are close to their jobs. It seems like location is still a must in the real estate industry, but millennials are no longer thinking about families or kids, but rather their own comfort and time-saving. However, near the city is more popular than in the city, they rather live outside the urban center, just close enough to get there fast.

Convenience and time-saving are also why millennials are searching for move-in ready homes where they don’t have to spend too much of their time fixing and accommodating. And if the home is tech-friendly, then this will definitely be their first choice when looking for a new house. So, their perfect match is a new home where they don’t have to spend any more money renovating and where they can move the very next day after closing the deal. 

Regarding the property itself, space distribution is essential for millennials. They are not looking for a normal home, with a normal living room, a normal kitchen, and a normal bedroom. No, this is definitely not the definition of a home for a millennial. This generation often searches for modern kitchens, open floor plans, and big bedrooms. The master room is a key point for them; the bigger, the better. They appreciate their personal space, and the bedroom is their sanctuary. As for kitchens, the most popular ones around millennials are those with new appliances, they want new and cute. Plus, since the kitchen is their main hangout center, it is important that it connects to other rooms, such as the living room, so open floor plans are very popular among this generation.

Another important factor for this generation is work space. Every day, working from home is getting more attractive for millennials (as well as for other generations). The internet allows us to keep connected to the world without having to go out. So, a working space at home is a very important thing to keep in mind when showing a house to a millennial.

Having a home office is a convenient, money-saving solution. And this should come along with new technology, which is a must for millennials. Fast internet and great cell reception are essential for a millennial. If one of those fails, a millennial won’t probably invest, since they are important parts of their daily life. 

Understanding what millennials are looking for in the real estate is not as hard as it seems. Technology and practicality are key. At Doral Riches we understand their interests and we have all the best properties that fit their needs!