Monday, November 28, 2016

EPA Rules and What They Mean for Real Estate Development

The US Environmental Protection Agency has an impact on practically every aspect of the economy – including real estate development. Homeowners, renters, buyers, investors and other persons concerned with real estate development are all mandated to comply with certain rules and regulations when it comes to the use and purchase of land.

The Role of EPA in Real Estate
As you know, many chemicals may be found and dumped in real estate properties. From lead in the furnishings to oil under the ground, the EPA sets standards that would regulate how property owners should deal with their real estate if any sort of environmental risk is involved.

Through such rules, the role of EPA becomes obvious: to make any contamination of real estate publicly known for the benefit of everyone who has interest in said real estate. Both buyers and sellers are now required to undergo an appropriate inquiry to find out the relative safety of the area. The purpose of EPA is not to prevent the use of real estate altogether but rather, to find out contaminant problems in order to address the issue and make it safer for its occupants.

Impact of EPA – What Real Estate Developers Should Know
The new rules of EPA add a new layer of procedure for buyers, homeowners, renters, sellers, and investors when it comes to real estate. Although it prolongs that process for the transfer of property, it undoubtedly provides an additional layer of safety for the end user. Here’s what every person in the sector should know:

Buyers should now request the following papers before pursuing purchase of property built before 1978.
·         EPA-approved pamphlet detailing the identification of lead based paint and how  to control it
·         A “Lead Warning Statement” attached to the contract and an affirmation that the seller has met the notification requirements
·         Disclosure of any known information regarding the existence of lead-based paint in the property.
·         A total of 10 days inspection for lead based paint. The inspection may be waived, lengthened, or shortened.

The same obligations are required of real estate agents who are selling homes.

If you’re renting property which was built before 1978, you should also get the following from your landlord:
·         An information pamphlet approved by the EPA
·         Disclosure of any information relating to lead-based paint in the property
·         An attachment of Lead Warning Statement in the contract.

Additional Guidelines
Around 2002, more guidelines have been released by the EPA which could put real estate developers at risk of paying liability for contaminants. Fortunately, there’s a set of guidelines accompanying this release which can help real estate developers protect themselves from liability:
·         Interviews with past and present owners to find out the possibility of contaminant release in the property
·         Review of available records regarding waste disposal, water use, spill records, and other contaminant-risk activities
·         Review of historical information about the property like department records, photographs, and previous uses of the property since it was developed
·         Presence of any environmental cleanup lies

All in all, these EPA regulations will require due diligence on the part of the real property developer with the end goal of making homes and buildings safer for people occupation.

Wednesday, November 23, 2016

DIY Exterior House Painting Tips

You enjoy multiple benefits simply by painting the exterior of your house. You protect it from the damage that extreme weather conditions bring. You strengthen the exterior and prolong its life and beauty. You enhance your home’s curb appeal and raise its value.
When you decide to paint the exterior of your house yourself, consider these helpful DIY tips.
  • Plan ahead.
You have to consider the time of year. You will have a hard time making paint adhere to wet surfaces. Paint also requires ample time to dry. You have to know the weather patterns where you live so that you are able to select a time when the humidity and the probability of rain are both low.
  • Choose high quality paint.
High quality paint may be a bit more expensive upfront. In the long run, however, you will get your money’s worth. The paint will provide better coverage. It also lasts longer; you will not have to repaint again and again.
  • Prep the landscape.
Painting is certain to be messy. Protect any vegetation on the ground by covering the area. Transfer all grills, hoses, and outdoor furniture. Cover up those which cannot be moved by using drop cloth. Make sure that you wrap the covers securely around the items or to weigh them down efficiently so they stay in place.
  • Prep the surface.
If the surface is coarse, uneven, or dirty, you will have a hard time getting the paint to adhere. Make sure you get a clean solid surface by doing the necessary prep work.
Remove all chalky residue, grime, dirt, and mildew from the surface. You can use a power sprayer for this. You can also use a stiff-bristle brush to hand-scrub the surface.
You can only paint over previously painted surfaces if the surface is smooth and in good condition. Remove old paint that has flaked off or blistered.
Make sure that all the nail heads are below the surface. Tap them down using a hammer-and-nail set. Use exterior-grade putty to seal the holes. Sand the putty once it is completely cured.
If you apply new caulk around the trim, doors, and windows, see to it that the caulk you use is paintable.
If you are working over some bare wood, make sure that you prime the wood prior to painting.
Use painter’s tape and plastic sheeting to cover all the lighting fixtures, windows, and doors.
  • Replace rotten wood.
Rotten wood will continue to weaken even if you paint over it. You have to replace all rotten wood trim or siding. If the area is small, you can opt to apply a wood hardener and wood filler. Prep and sand the new parts before you apply paint.
  • Apply primer.
Before you apply your chosen color coats, make sure that you apply good quality primer. You can also opt to get the more expensive newer technology all-in-one primer-and-paint products that will reduce the total number of coats you need to apply.
  • Work your way down from the top.
Let gravity work with you by painting your way from top to bottom. Painting this way will help you to manage streaks and deal with mishaps better.

Wednesday, November 16, 2016

What Is the Role of a Real Estate Developer?

Real estate is a booming business. An industry that’s easily worth billions of dollars, competition in this field is strong. Critical in the development of this industry is the role of the real estate developer. This article will put a spotlight in the many roles that the real estate developer plays.

1.   Securing of legal documents - There are many legal documents that must be passed before any type of construction project is approved. One of the most important roles of the real estate developer is to ensure that all such papers are adequately accomplished. Before construction starts, all legal, regulatory, and statutory clearances must be cleared. Title deeds and legal dues for each projects should also be secured.

2.   Securing of finances - It is also the job of the real estate developer to ensure that the necessary funds for developing a company’s different projects are prepared. Aside from securing finances from both investors and financing institutions, the developer should also ensure that all loans and interests are properly accounted for.

3.   Pricing of projects - Setting prices is also the responsibility of the real estate developer in charge. There are many factors involved in determining the price of a property: the amount of money invested in its development, the target market for such properties, and the economic environment. Proper pricing ensures that the company gets sufficient profit on each sale while getting each unit sold as quickly as possible.

4.   Quality control - It is the responsibility of the real estate developer to ensure the quality of each project. They must see to it that each project gets completed according to both the plan and the schedule. At the same time, developers should also see to it that constructions are done at the best possible quality, ensuring that no investment gets wasted by subpar work.  

Tuesday, November 15, 2016

What Qualities Does a Person Need to Become an Entrepreneur?

Everyone wants to be a great entrepreneur, but not everyone has what it takes to be one. While it takes the right opportunity and a little bit of luck, you can groom yourself to become a great businessman. Here are some qualities a person must have to become an entrepreneur.

1. Passion - To become successful in any venture, you must have the passion for it. It is arguably the most important trait you must have to succeed in this field. When you have a genuine love for what you are doing, everything is not a burden to you. You do everything you can to make your business succeed, and you do it for reasons that go beyond profit.
2. Confidence- As an entrepreneur, you got to be confident, both on yourself but also on your people. You got to see every single event, even obstacles and failures, as an opportunity to grow and improve. You also got to be confident enough with your abilities to make each of your ventures successful.
3. Creativity- This is another trait possessed by people who end up becoming great entrepreneurs. They see opportunities where others don’t. They are also innovative, resourceful, and willing to think outside the box. Without taking unnecessary risks, creative people find ways to put their businesses in a better position to succeed.
4. Discipline- The best entrepreneurs know that they should be disciplined enough to see the fruits of their labor. They are 100% focused on accomplishing their goals, and they are willing to do whatever it takes to get it done. This level of discipline will then trickle down from them to the people they work with.
5. People Skills- An entrepreneur understands that he/she cannot do it alone if he/she wants to achieve success. The entrepreneur knows how to communicate. Great communication skills means you can sell products better, motivate your people better, and engage people from outside your business better.
6. Work ethic- If you want to be the best entrepreneur, you can never afford to be lazy. The best businessmen never rest on their laurels; always seeking for ways to further improve in their craft. They are willing to go the extra mile to ensure their goals are accomplished. When you work hard and work smart, success is just around the corner.

Those are just some of the qualities you must have to become an entrepreneur. Develop these traits and you improve your chances of prospering in this field.