Top Eight Millionaire Homes in The World
Saturday, July 19th, 2008 |
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 Italy |
 Portugal |
 England |
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EUR 2,800,000
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EUR 6,500,000
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GBP 5,000,000
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Italian villa renovated to a high standard
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Luxury villa of majestic proportions.
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9 Beds all with bathrooms secluded rural setting
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 France |
 Dubai |
 USA |
| EUR 2,200,000 | GBP 5,742,266 | USD 14,999,999 |
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1860 French Château on 6.5 acres with pool. |
Toscana luxury Huge Villa at Dubai Lifestyle City. |
3 story 6 Bed Villa, waterfront home
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 Queensland, Australia |
 Barbados |
| EUR 1,740,270 | GBP £3,000,000 |
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Huge 1900m2 homes situated in Coolum |
Unobstructed views of the Caribbean Sea |
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How To Buid a Million Dollar Real Estate portfolio
The technique only works in areas where house prices are rising fast and opportunities exist to purchase off-plan properties, where discounts of up to 15% are not uncommon.
Investors begin by purchasing one or two off-plan properties. These are properties that are not yet fully developed or have only just received planning permission. Developers tend to offer larger discounts to people who are prepared to buy properties at this stage of the build.
On completion, the investor will refinance the properties. A combination of rising house prices and the discounts gained at purchase, ensure that the property is refinanced at a higher figure than the original purchase price. The extra money gained through refinancing is then be used as a deposit for another two properties.
This cycle will be repeated a number of times by the investor until they have built up a strong portfolio of investment properties, with a combined value of more than a million pounds.
Further advice
Before deciding to use this property investment technique, it is essential to get further advice on the legal, tax and financial issues.
A number of property investment companies exist to help advise their members on these very speculative investments, but be wary of the less scrupulous companies that charge their members £1,000s to attend seminars or build portfolios on their behalf.
Source: Don Suter is Managing Editor of the UK Property Portal http://www.ukpropertyportal.co.uk, an on line directory and magazine for UK property sales, rental, surveyors, mortgages, conveyancing, property insurance, removals, news, investment and development
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