Majorca » Majorca Property

It has been said, there is always a way to thrive, even in challenging economic times. My grandparents demonstrated this notion with their bold decision to weather the depression in Majorca, Spain--on the beach!. Notably inexpensive at the time, theirs was a creative and proactive move. In addition to creating beautiful Majorca memories for my father, they passed down to me a "legacy of immunity" against so-called negative economic challenges! In this article, I explain how to survive and thrive during the Santa Barbara Real Estate downturn. As with most simple ideas, the application may not be easy, so please do not try this at home by yourself! Yet, if the idea of thriving in this Santa Barbara Real Estate downturn appeals to you, read on!

Let's Do the Math: With this unique genre, your rental is full 75% of the time and at 3 times the normal lease price; add an extra investment of 5% [for utilities and amenities); less a 20-25% commission paid to the vacation rental marketing company. Does this put you ahead? You bet it does! This solution is not for the faint-hearted--but for the more determined, aggressive, adventurous, and successful property owner. Before we dive in, though, have you ever heard the definition that says insanity is, "Doing the same thing over and over while expecting different results!" Lets take a look at three real estate property scenarios, two of them, I believe, are insanity in this present market; but one is a really good solution.

Your property is listed for sale, and you have moved on to another situation in another part of the country or world. Your house sits...and sits...and sits...Your real estate agent wants you to drop the price, buyers want you to fix this, that, and the other. You pour money into the property trying to make it perfect for buyers who are kicking' the tires. Let's face it, it's a buyers market and they are kicking the tires. So you lower the price, while you struggle to make an extra mortgage payment! Again...how do you stay on top and survive the lows in order to cash in on the highs? What are the lows anyway, and when will it be high again?

You are running expensive ads in the newspaper and online--showing your rental property to potential renters, dodging discrimination law. Taking applications and running credit checks can get costly, especially in a soft market where there are little to no results. The risk is that the tenant can cause more damage than you can repair from what they pay. Then too, the rent may or may not cover the mortgage payment, and potential eviction can be an undeniable nightmare! Then there are months when your Santa Barbara house sits empty between tenants. Instead of collect rent, you will be cleaning carpet, painting walls, taking trash to the dump, etc.

D. Nelson, presently residing in Montecito, CA, graduated with BS in Advertising from University of Texas, and is Marketing Consultant Owner of The AdStuff Company http://www.theadstuffcompany.com and founder of Vacation Suites Global. She markets vacation rentals nationwide within the hospitality industry. Ms.Nelson has been nominated for Working Women's Entrepreneurial Excellence Award and has been selected as Ms. Coporate America/Santa Barbara 2008. You may contact her at [email protected] or Toll-Free: 1-888-237-8833 extension 3, for a complimentary VRA (Vacation Rental Analysis).

Source: www.articledashboard.com