Safety in Numbers?

Is that what it is? Are you waiting for everyone else?

If I told you the secret to building wealth in real estate is not only to buy in the right location (Hello Turks and Caicos!!) yes, but in addition to that:

Buy when everyone's selling, and sell when everyone's buying!

Most people would agree with this statement right? So why then do we continue to ....... dawdle? Hesitate? Procrastinate? Fear! Fear that you're doing something that not many other people can or will do right now. So you panic, you reason and you wait. Wait until everyone including your neighbour, your mother in law and your cousin Vinnie calls you and says "Hey I just bought a condo!". It' at this point that many people risk using bad judgment when they rush out and buy something. Nothing is guaranteed in life, but we all know that real estate is a great investment, one of the safest, albeit longer term investments around.

It's important not to get caught up in the hype - yes, there are mythical stories of the guy who bought 5 condos pre-construction with only a fraction down and re-sold it a few months later making bags of money, but this is not sustainable, it's like a pyramid scheme and when not enough buyers are coming into the market.

Real estate should not be taken lightly, make sure you love the property you buy and make sure the location is excellent. How do you determine that?? Well, you can never ever go wrong with purchasing beachfront property. It's a matter of supply and demand. Simple economics! There's very few beach property available anywhere in the world, let alone an idyllic island with perfect white sand beaches right here in Turks and Caicos - this is the reason, beachfront property always appreciates. There are other areas too - but that depends on many other factors which I wont bore you with the details of in this blog.

While Vacation property is usually purchased for your personal use and enjoyment, never overlook the investment potential of purchasing property in a tropical paradise. Most vacation homes here are rented out short term, and the owners expenses are taken care of with even a little extra at the end of the year. Turks and Caicos is a tax free jurisdiction with no property taxes, no capital gains taxes, no income tax; this is a huge advantage for US home owners. The condo market has always done well becuase most condominium resorts offer a rental pool and a management company to take the hassle out of owning away from home.

So what's the point in all of this? Buy property now. And if you're one of those who says; What if the prices go lower? Well there's good and bad news: The bad news is, you've missed some of the best prices out there - they've been scooped up already, but the good news is, prices are still lower than they were years ago, and so now's your chance to get in while you can! You may not turn out to be the next Donald Trump (who needs that hair!?) but you can provide a safe and rewarding future for your family with the right property added to your portfolio.

E-mail me now at zoe@prestiousproperties.com for the latest deals and steals in Turks and Caicos!

Own a successful business in Paradise

Location, location, location!

Restaurateurs and savvy entrepreneurs will immediately appreciate and see the value in this incredible business opportunity in one of the best locations on island! Saltmills Restaurants are centrally located in Providenciales on Grace Bay with close proximity to the major resorts and businesses. The restaurants each offer something special and unique to the island's culinary collection with both air-conditioned comfort and al fresco dining available for the patron's maximum comfort. This rare opportunity consists of over 7,200 square feet including a spacious top-of-the-line kitchen, spacious and thoughtfully designed dining areas, exclusive use of a courtyard, sidewalks and other outdoor space.

The Saltmills Café & Diner



The Saltmills Café & Diner offers breakfast, lunch and dinner with a casual flair, along with a selection of pastries, sandwiches, smoothies and health related menu items, as well as daily specials that keep both residents and tourists coming back day after day. Service is both friendly and quick, providing rapid take-out service for those on the go. The Cafe also provides catering services to local businesses on a daily basis. For several of the local condominium complexes, it serves as their breakfast location. The Diner has four flat screen TVs and hosts seasonal sporting events and is rented out for private parties and hosts kids’ birthday parties. The restaurant seats about 96 in the Diner area (booths, counter and tables), 60 in the courtyard and 10 in the Café.

Iguana’s

The Island’s only steakhouse, catering equally to residents and tourists, offers high quality service with excellent dinner menu and wine selections at quite reasonable prices, all in courtyard or elegant air-conditioned comfort. The local Rotary Club has its weekly meeting at Iguana, hosting 30 to 45 local business owners every Thursday. The restaurant seats about 70 inside and 20 outside covered and 40 more uncovered, under large fixed umbrellas if needed.

With un-depreciated net assets of just over $1.3 million and a profitable current run rate, the current asking price has been reduced to $450,000.

Tanisa Zoe Samuel
zoe@prestigiousproperties.com
Cell: 649-232-3635
Main: 649-946-4379
www.prestigiousproperties.com

How's the Real Estate Market in Turks and Caicos Today?

Everyone has been asking me how the current world economic climate has affected real estate in Turks and Caicos.

My verdict, in short, it’s never been a better time to buy! For the first time since I have been in Turks and Caicos, buyers have the opportunity to take the time needed to find the right property at the right price along with the ability to negotiate the best price possible.

Sellers are more aware than ever of the need for their pricing to reflect the changes in the market, in order to make their property more appealing. They also have to work more on curb appeal – something that was not a focus before.

One thing, of which I am certain, is that property in Turks and Caicos will continue to prove its value through any economic cycle. There is a relatively small amount of available beachfront property, and while the demand may be down, the supply will never increase!

The Economic cycle plays an important role in real estate investing. The idea of an Economic cycle is simple. It states that what goes up must also come down. In the past, Real estate in Turks and Caicos has shown increases in value by 10 – 15% per year on average with many reporting 25% increases – especially for beachfront property. Real estate investment is more secure when the investment strategy is based on the long-term potential of the investment. In other words, buy property and hold on to it until the profit you seek can be realized.

STAMP DUTY

The stamp duty reduction has been extended; and is now only 6% for Providenciales and 3% for all other islands, but only until June 30th, 2009. This is a vast reduction from 9.75%. This stamp duty is payable on all real estate purchases and is a one-time tax; you will never pay property taxes again!

In an area such as TC real estate, profit potential is great because of the attractiveness of the area, and the confidence that property values will increase in the medium to long term. So the answer is, buy now, sell later!

Check out the full newsletter and properties by downloading this pdf file from the this link: http://files.me.com/tanisa/j9jplf

Call or email Zoe for more info: zoe@prestigiousproperties.com or 649-232-3635