Author: Dianne Kuhn

Real Estate Investing Myths

Real estate is among the investments that are emotionally entwined. People try to rationalize their feelings with the aid of many myths about the real estate for sale tulum mexico market.

The myths that surround real estate must be debunked to stay clear of getting caught up in the emotions associated with real estate investing and make sound financial choices. This article will examine some of the most popular misconceptions about investing in real estate and try to disprove them.

Myth: The land is scarce

Realtors and others who promote investment in real estate believe that there is a lack of land. The world is home to a small quantity of land. The reality that the population of the world is increasing every day is the result of an ever-growing quantity of land. The cost of land will continue to increase because there will always be a deficiency.

However, a glance at the figures will reveal that this isn’t the case. There is only a certain amount of land available in the world. Technology has made it possible to make the most of the land. The findings are based on research conducted in this region. They have shown that even with the fourfold increase in the population of the world there’s still plenty of lands available for human beings to flourish and thrive.

Research has shown that the population of the world is on the verge of stabilizing. This signifies that the peak of population growth is over and that the population will continue to increase.

Thus, the argument that “land is valuable and thus limited” is just propagation of a myth!

Myth: The value of land will always increase in value

This is a common practice in the developing world, where we have witnessed unprecedented growth in the real estate sector in the last decade. In these nations, the cost of land has increased 10 times in the last 20 years. The people in these countries believe that the prices of land always increase, i.e. the real estate market constantly grows in value.

This isn’t the case. There have been several real property crashes in the developed world such as Japan as well as the United States where prices dropped between 40 and 50 percent. Prices in Japan have slowed down and have been there for the better portion of the last decade.

This is the reason why the mythical assertion that “land prices never decrease” is a lie once again. Many factors influence the value of land, among which is the health of the country’s economy.

Myth: past performance predicts future performance

Investors in real estate who believe in the future tend to take the past and create an optimistic forecast for the coming years. However, it is crucial to recognize that the world has witnessed an enormous shift in the last decade. Emerging economies have seen extraordinary growth due to agreements in business such as outsourcing, free trade, and investments in cross-border markets by multinational corporations. It is unlikely that we will see another similar revolution in the future. It is highly unlikely that the previous performance will be replicated soon if there isn’t an abrupt economic change. Investors who anticipate a repeat performance are likely to be stunned!

Myth: Real Estate Investments Can Be Flipped Easily

The story isn’t widely known. However, it wasn’t an everyday occurrence before the subprime crisis hit the United States. Stories of self-made millionaires from the real estate who purchased and sold properties with borrowed funds were not uncommon.

Flipping as these bloggers have promoted it, is a method to earn money. It is possible to buy and sell real estate several times within a short period. The goal was to convert the gain from the price difference into cash and then book it. The self-proclaimed experts did not include the huge cost of transaction fees that come with real estate transactions around the world. If you buy more properties and the more you pay for, you’ll incur a higher cost for transactions. The transaction costs range between 2% and 5 percent, depending on the value of the property.

Finding a buyer isn’t just costly, but also laborious. Flipping houses is a lengthy and draining job that should be avoided.

Myth: renting is more beneficial than purchasing

Every property buyer around the world feels an emotional attachment to the real property they purchase. In the past, buying real estate was considered to be an “adult” choice. The decision isn’t financially backed and is influenced by the notion that owning an investment property will make you more secure.

However, this is not the case if you look at the financial side. In certain situations, purchasing is more beneficial than renting. It’s up to each particular situation to determine is the most appropriate option. In the next article, we will look at the rent or purchase. buying decision.

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The Tale of Haunted Island in Venice

One cannot live in Venice, or even as close to Venice, without hearing the tales about the island the Italians claim is most haunted. Poveglia, an island comparable to the Sheep’s Meadow at Central Park and half of Navy Pier, Chicago, is said to be so bad that no one would want to step foot on it.

Poveglia was a closed area for fishing and was not accessible to tourists for many years.

About the Island

Just a short distance from Venice is the beautiful island Poveglia. It was used as a quarantine for plague victims. Additionally, the island was used as an insane asylum during the early 20th-century.

Ghost hunters claim that this spot is a hotbed in paranormal activity. However, visitors to the island are prohibited at the moment.

Povelgia didn’t always have to be a dark place, where unimaginable horrors occurred. The island appears in documents that date back to 421. It was a prosperous economic center with an increasing population of up to 1378.

The Povegliotti people were evacuated from Poveglia to Venice in the conflict of Chioggia. Povelgia, which was devastated by the war in 1381, was left in total ruin. But hey, you can check out the carnival of horrors too if you like to.

Deathly Plague Consequences

Poveglia, although one of the octagonal castles was built to protect the Venetian Lagoon entrances, was abandoned for many centuries. The idea of a plague island was only born after the plague decimated Venice’s head of state, Doge Giovanni Mocenigo. The Venetians wished to prevent the spread of the disease and isolate those infected.

The lagoon had many other plague islands. Lazzaretto Vecchio is well-explored, and approximately 500 people were killed each day. Archaeologists have identified the remains as belonging to children, men, and women.

Poveglia is thought to have lost around 160,000 people. However, Lazzaretto Vecchio’s investigation has not been exhaustive. It was a particular death sentence to be taken to the island.

The people would often go kicking and screaming in fear that they would end up in hell. Some believe that most of the soil is made up of the ashes from the victims of the fire.

Napoleon used Poveglia to quarantine any person suffering from the plague. Napoleon also destroyed the 12th-century church and converted the bell tower into a lighthouse.

Napoleon’s enemies found out that he had weapons stored on the island. Many battles were fought on the island, which claimed many more lives.

Opening of a Mental Hospital

In 1922, Poveglia was given the name “Reparto Psichiatria,” and a mental hospital was established. Signs that read “Reparto Psichiatria,” which are still affixed to the derelict structure, confirm the existence of the mental hospital. According to locals, the rest of the events occurred in a fictionalized Hollywood setting.

Patients, already thought to be in a state of shock, reported regularly seeing ghosts of plague victims. They also claimed that they were awakened at night by the screams from tortured souls. These claims were dismissed.

The doctor at the mental hospital tried to find a cure for insane patients by performing lobotomies. According to legends, he used hand drills and other cruel methods to perform lobotomies. You can still see some of these odd machines in the hospital’s rooms today.

A number of patients were also taken to the bell tower, where they were subject to a particular type of torture. We won’t know the details because the doctor eventually fell from the bell tower, claiming that his patients had made him insane. The nurse who witnessed the entire event is believed to have been present. However, it is not clear if the doctor actually committed suicide or if someone else did so.

After the doctor’s death, 1968 saw the hospital close, and the island is completely abandoned.

Since 1968, Poveglia was closed to visitors, and very few people have ever walked on it. Paranormal shows such as Ghost Adventures or Scariest places on Earth were granted permission to film there.

Although you may think me crazy, I have felt ghosts a few times – but not on Poveglia. We were both happy to visit Poveglia on a sunny, beautiful day last week. Because of the structural decay in the buildings, we climbed as high as possible. We saw only our shadows, and neither of us could see anything else.

Can You Visit the Island?

Today, the only way to get on the island is by boat or water taxi. Offenders will face criminal charges. However, tourists can still visit this mysterious island off the Venetian Coast by taking private boats or water taxis for a few hours.

The whole story is not recorded officially, but it has been handed down through the generations. However, those who chose to tempt destiny never wanted to go back due to the haunting atmosphere of Poveglia, also known as the Island of No Return.

 

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