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In Real Estate Investing, Like All Other Businesses, The People Who Make The BIG MONEY Are Better At Marketing

In Real Estate Investing, Like All Other Businesses, The People Who Make The BIG MONEY Are Better At Marketing

Investing

When meeting other investors, one of the most frequent questions I am asked is how is it that I manage to buy up to 5 properties a month when they are struggling to find one.

It only takes me a few questions to get to the problem. Their marketing doesn't make the grade. It's either haphazard, inconsistent, or nonexistent, and instead of facing that they want to tell me that it's the economy, or it's different where they live.

Here is what I counsel all the people who want to make wheel barrels full of money: "Don't ever forget that above all else you are in the marketing business. The extent to which you embrace this fact will ultimately determine your success or failure in this or any business!"

A bold statement, I admit. Now obviously you need to know the basics of the business, how to buy and sell homes for a profit, but beyond that, your marketing will be the difference between you and all the other investors out there.  Complete Article


Finding A Fixer Upper - How To Find A FixerUpper Online

Finding A Fixer Upper - How To Find A FixerUpper Online

Business

If you are in the market for a new home, but do not want to spend a lot of money, you may want to look into buying a fixer upper. By purchasing a fixer upper, you have the ability to save yourself a significant amount of money. If this sounds like something you are interested in, you are in luck. There thousands of fixer uppers available all over the country. All you need to know is where to look.

Listed below are the three most common ways that you can find a fixer upper in your area.

1. The most traditional way of finding a fixer upper is by simply getting in your car and scouring the neighborhoods that interest you. By doing this, you may not come across a lot of properties, but you may find the one that really catches your eye.  Complete Article


Making Money In Real Estate - 10 Ways

Making Money In Real Estate - 10 Ways

10 Ways

Making money in real estate is an endless topic that includes all the various types of real estate investments. There is land, apartment buildings, homes, commercial buildings and more. Whatever the type however, you'll make your profits in some of the basic ways listed below. Use this list to get yourself thinking of the possibilities.

1. Appreciation. Making money in real estate can be as simple as holding on and waiting. To really get the most appreciation in value, however, you should buy in an area where demand is growing faster than the supply.

2. Depreciation. Remember that after all the tax law changes, you still get to declare a loss for depreciation that doesn't really exist. That can save you a lot at tax time, meaning more after-tax profit. To maximize this, buy property that has its value primarily in the buildings, because you can't depreciate the value of land.  Complete Article


Deferred Interest Mortgages: Investing the Money Saved from a Negative Amortization Payment Can Make You Money

Deferred Interest Mortgages: Investing the Money Saved from a Negative Amortization Payment Can Make You Money

Business

Negative amortization loans, also known as deferred interest loans, payment option ARMs (adjustable rate mortgages), neg am loans and other titles, are loans with interest rates based on MTA, COFI and other indices that have payment adjustment caps in addition to interest rate adjustment caps.

With interest rates rapidly rising, these have been an item of controversy because of how they can result in loss of equity and an increased mortgage balance. However, neg am purchase loans and refinances can be good for self-employed people with cash flow issues, business owners with unpredictable incomes and for people whose income is mainly from commissions or bonuses, as well as experienced investors who know how to make money from the lower initial mortgage payments.  Complete Article


The Loft Craze - How To Find a Loft For Rent Or Purchase - Chicago New York Los Angeles Florida Texas - Buy Or Sell Real Estate Rentals

The Loft Craze - How To Find a Loft For Rent Or Purchase - Chicago New York Los Angeles Florida Texas - Buy Or Sell Real Estate

Rent or Buy a Loft

Proximity to transportation corridors, urban centers, and local attractions draw land-loving young professionals to high-density loft-style condominiums. If your looking for a Condo with a twist, a loft may be just the home to You.

Lofts vary in price depending on what city you are in, units in the Chicago area start around A $200, 800 square feet and top $1 million for 2,500 square feet.

A true loft for is a conversion of a vintage factory or warehouse, having a harder edge of either concrete construction, or "mill" construction of exposed brick and original wood posts, beams and floors. Ceilings should be over ten feet high at least. Complete Article


The Condo Hotel Craze - Rental Options Allow Owners To Receive Income While Away - Florida California Hawaii Ocean Front Real Estate

The Condo Hotel Craze - Rental Options Allow Owners To Receive Income While Away - Florida California Hawaii Ocean Front Real Estate

Hotel Condo

What started in strictly resort areas is now branching out into all major metropolitan areas. Most of the larger worldwide hotel chains now sell condo hotel residence.

Much of the condo hotel market in the U. S. started in Florida. The residences there command 600,000-800,000 for a studio. I bedrooms start around $750,000. $1,000,000. 2 Bedrooms Start over the 1,000,000 price range.

These permanent residences feature all the furnishings and amenities of a luxury hotel — such as world-class restaurants, 24-hour concierge, security, valet, housekeeping, and room service. Complete Article


How Much Does My Real Estate Agent Need To Know? What To Look For When Choosing an Agency or Broker  

How Much Does My Real Estate Agent Need To Know? What To Look For When Choosing an Agency or Broker

Business

Real estate agents would say that the more you tell them, the better they can negotiate on your behalf. However, the degree of trust you have with an agent may depend upon their legal obligation. Agents working for buyers have three possible choices: They can represent the buyer exclusively, called single agency, or represent the seller exclusively, called sub-agency, or represent both the buyer and seller in a dual-agency situation.

Some states require agents to disclose all possible agency relationships before they enter into a residential real estate transaction. Here is a summary of the three basic types: Complete Article


Purchasing Property With No Money Down: My Personal Experience – How to Buy Real Estate with Zero Down

Purchasing Property With No Money Down: My Personal Experience – How to Buy Real Estate with Zero Down

No Money Down

Have you ever seen those infomercials about buying houses with “No Money Down?” They are really well done. They have all kinds of people offering great testimonials about how they have gotten rich, buying rental properties, with absolutely no money out of their pocket. You see this guy, standing on a street corner, talking to someone, and he says, “I own that one,” pointing to a beautiful colonial. “I also own that one next to it, and the one two doors down, and I’ll be closing on the one directly across the street from it, next week.” He then assures us that he has purchased 17 homes in the last eight or ten months, with zero money down on the properties. Plus, in many cases he’s also paid no closing costs.  Complete Article


Eleven Tips for Surviving a Tight Rental Market – How to Find an Apartment for Rent Online  

Eleven Tips for Surviving a Tight Rental Market – How to Find an Apartment for Rent Online  

Apartment

For the first time in years, renters are finding that rents are on the rise and good deals don’t last long.

For the past six years, the booming housing market and low interest rates kept apartment vacancies high and depressed their prices.  But as the housing market has cooled due to higher interest rates, the population of renters has grown.  According to MP/F Yieldstar, average vacancy rates nationally have dropped 40% since 2003.

Fewer vacant apartments means higher rents and more pressure to sign leases quickly.  ApartmentRatings.com, the nation’s leading website where renters can share opinions about apartment nationwide, today published a list of strategies to help renters cope with the tight rental market.  Complete Article


Apartment Rental Listings – How Online Comparison Shopping Helps Make it Easy to Find Apartments to Rent

Apartment Rental Listings – How Online Comparison Shopping Helps Make it Easy to Find Apartments to Rent

Apartments.com website

If you are an apartment renter, you might find that it is time for you to check around for a new location.  Sometimes higher rent rates, noisy neighbors, and a need for an updated apartment can begin a search for a new place to stay.

There are a number of apartment search sites that offer comparison ratings of apartment rentals in your neighborhood.  Each site will offer their information differently and may have custom search criteria to help in finding a specific apartment.

Complete Article


How to Hire a Moving Company – Checking Ratings Important

How to Hire a Moving Company – Checking Ratings Important

Moving Supplies from Uline

If you are going to be moving this summer and you need to hire a moving company to help you move across the country, you need to make sure to check the moving company’s ratings to insure that your move will have a better chance of going smoothly.

Pitfalls to moving companies can be anything from damaged items in transit, to delayed delivery times, to extorting more money if you want your stuff back again.  You can check with your local Better Business Bureau for the moving company’s track record.  If they do not have any information you should go online to epinions website to see if there is any reviews on the company.  There are also other websites that have ratings for moving companies that you can find in search engines. Complete Article


Qualifying for a Home Loan – Steps for being approved on a Mortgage Loan

Qualifying for a Home Loan – Steps for being approved on a Mortgage Loan

Realtor .com website will help you understand housing prices

If you are anticipating purchasing your first home, you will want to make sure that you can qualify for a home loan before you even begin to look at real estate.  Most of the time, a real estate agent will get you pre-qualified through a mortgage broker, however, this is loosely based and you should still be aware that it does not guarantee that you will get a loan or the type of loan that you desire.

By knowing what your finances should look like you will be in charge of deciding the type of loan, be it a fixed rate or interest only loan you make the final decision.  If you are not prepared with knowing how to qualify for a home loan, you will be left very little options and you may be left with only a very undesirable adjustable rate loan with closing points for the loan.  You can end up being put in a position that will cost you considerably more to repay the loan.  Qualifying for a Home Loan – Steps for being approved on a Mortgage Loan


How to Determine House Values Online – Internet Offers Zestimate Zillow.com and Other Free Appraisal Services For Homes Worth

How to Determine House Values Online – Internet Offers Zestimate Zillow.com and Other Free Appraisal Services For Homes Worth

Home Values

The summer months are usually the most popular time to buy and sell a home.  The kids are out of school, and many people have a little extra time to make the move.  But how do you know if you are getting a good deal either selling or buying a home?

The most accurate method of determining the value of a house is to hire an appraiser.  The appraiser can determine the value of the house using a few methods including comparing the house to others that have sold in the area.  This is called the comparable method. 

Appraisers may also determine how much it would cost to rebuild the house, and then subtract the depreciation and add the value of the land.  This can be accurate, especially if the house has special features and upgrades.  For instance, if the house has ceramic tile, it will be worth more than a house with linoleum.  How to Determine House Values Online – Internet Offers Zestimate Zillow.com and Other Free Appraisal Services For Homes Worth


Pole Barn Kit – How to Shop for a Do-it-Yourself Wood Frame Building Kits

Pole Barn Kit – How to Shop for a Do-it-Yourself Wood Frame Building Kit

Example of a pole barn kit assembled

Outdoor stand alone buildings can be constructed by yourself to allow extra storage for farm equipment and animals, RV’s, and even to have your own workshop.  Whatever your idea is, you can customize a pole barn kit to fit your needs.  Pole barn kits offer a discounted way to build a structure with straightforward assembly which is completed on the location.  It will save you a bunch of time as the roof trusses are already pre-built.

You can expect to pay $6399 for a pole barn starter kit 30ft. x 40ft. x 10ft.  The prices can go up with the more features that you want in the pole barn.  If you want extra windows, more doors, these are extra costs to the kit.  A large pole barn 40ft. x 84ft. x 14ft. you can expect to pay around $14,499 for a basic kit.  Prices can vary depending on were you live.  Pole Barn Kit – How to Shop for a Do-it-Yourself Wood Frame Building Kits


Compare Mortgages - First Time Homebuyers Choose Between Adjustable Rate Fixed Rate and Interest Only Loans

Compare Mortgages - First Time Homebuyers Choose Between Adjustable Rate Fixed Rate and Interest Only Loans

Business

There are many types of home loans (mortgages) available including fixed rate, interest only and adjustable rate mortgages.  Typically they are affixed to real property and improvements (a house), but can be associated with ships, and raw land. 

Each loan has its advantages.  Adjustable Rate Mortgages (ARMs) give the lender some safety if interest rates rise.  For instance, if the interest rate right now is 5% but 5 years from now increased to 10%, the lender can raise their rate to 10%. Usually the rate is associated with an index such as the Prime Interest Rate plus a percentage.  Compare Mortgages - First Time Homebuyers Choose Between Adjustable Rate Fixed Rate and Interest Only Loans


Interest Rates and Home Loans – Fixed Rate Mortgages may be better than Adjustable Rates

Interest Rates and Home Loans – Fixed Rate Mortgages may be better than Adjustable Rates

Real Estate

Considering the current trend of inflation, gas prices, and the cost of the Iraq war, interest rates may continue to rise for some time making the fixed rate home loan very desirable.  When shopping for a home loan you will find that many loans are adjustable rate, interest only, or fixed rate.  If you plan to live in your home for a very long time then fixed rate is definitely for you.  If you plan to live in a home for only two or three years, you might consider the adjustable rate and interest only, or a temporary fixed rate home loan.

The benefits of an adjustable rate loan is that the interest rates are often lower than a fixed rate loan, the bad part of this type of loan is that when interest rates go up, so do your monthly payments.  It is usually easier to qualify for the adjustable rate loans.  Interest Rates and Home Loans – Fixed Rate Mortgages may be better than Adjustable Rates


Patio Covers, Shade Sails and Awnings – Compare Fabric, Metal, Aluminum, Vinyl, or Wood Patio Covers and Enclosed Patio

Patio Covers, Shade Sails and Awnings – Compare Fabric, Metal, Aluminum, Vinyl, or Wood Patio Covers and Enclosed Patio

Sunsetter Retractable Awning

Now that the summer is beginning to heat up, homeowners are thinking about providing some shade by installing awnings and patio covers.  There are many types of patio covers and shade structures to choose from.  Decide on the style before you decide whether to do it yourself or have professionals install it?

There are benefits to having professionals install your cover.  First they will get the permits.  Second, they have experience and can get the job done in less than half the time it will take you. Think of all the trips to the hardware store you will be making and the hammer drills and other equipment needed.  Patio Covers, Shade Sails and Awnings – Compare Fabric, Metal, Aluminum, Vinyl, or Wood Patio Covers and Enclosed Patio


Outdoor Gas Grills and Kitchens - Propane Compared to Natural Gas and Charcoal - Features Affect Cost

Outdoor Gas Grills and Kitchens - Propane Compared to Natural Gas and Charcoal - Features Affect Cost

Outdoor Grills

With the summer season getting underway, outdoor grills and kitchens are becoming more popular.  There are dozens of natural gas and propane grills to choose from.  But what should you look for when choosing a grill?

Typically charcoal grills are less expensive, but require refills of charcoal and lighter fluid to use.  Although natural gas is cheaper, liquid propane (LP) burns cleaner and can produce more heat; but you will need to refill your propane bottles.

There is a big debate between charcoal and gas grilling, but it all comes down to flavor. Charcoal does provide a distinctive flavor that is not easily reproduced.  It is a tough decision for grilling enthusiasts, and that decision is whether the gas grill is worth the convenience.  Outdoor Gas Grills and Kitchens - Propane Compared to Natural Gas and Charcoal - Features Affect Cost


Outdoor Chaise Lounge Chairs – Patio Furniture offers many Choices – Wood, Aluminum, Cast Iron and Plastic

Outdoor Chaise Lounge Chairs – Patio Furniture offers many Choices – Wood, Aluminum, Cast Iron and Plastic

Aluminum Chaise Lounge Chair

Summer time again and it is time to get outdoors again to enjoy the swimming pool and a barbeque.  Have you been looking to upgrade or update your patio furniture?  The chaise lounge chair is a very popular outdoor patio furniture choice.  When looking for a chaise lounge or a set of patio furniture you should consider the benefits to each type of material used to build the furniture.

Depending on your location and your climate and your budget you will be shopping for different types of patio furniture.  You might have high winds that may exclude lightweight plastic patio furniture no matter how much you want to go with plastic.  If you have to winterize your patio furniture you will want easy to remove patio cushions.  If you plan to store or need portable furniture for a day at the beach lightweight and foldable is the goal.  Outdoor Chaise Lounge Chairs – Patio Furniture offers many Choices – Wood, Aluminum, Cast Iron and Plastic


Foreclosure Homes – Buying a REO Foreclosed Property might save you Money

Foreclosure Homes – Buying a REO Foreclosed Property might save you Money

Real Estate

It is an unfortunate event that the previous home owners were unable to keep their homes, however the benefits to a foreclosed home is that you can often buy it at less than market value.  This is especially true when homes are not selling as fast as they could.  If the real estate market slows down the prices on the foreclosures will also drop.

You can search foreclosures that are bank owned, HUD Foreclosures and VA foreclosures.  A foreclosure is usually owned by a financial or government institution.  If the home sits around long enough the price will often go down.

Finding both bank and government foreclosures are straight forward.  You would have to find a real estate agent that would be willing to work with you to help you find the listings.  Lists are also available online which you can sign up with that will cover your area.  HUD lists the properties at no charge.  Real estate agents don’t always want to show all the homes as it could take more time than it is worth on the commission.  If you do some of the foot work and bring the agent in when needed to finalize you choices it would be good for both you and the agent.  Foreclosure Homes – Buying a REO Foreclosed Property might save you Money


Home Improvement Loans – Benefits to a Home Equity Loan 2nd Mortgage

Home Improvement Loans – Benefits to a Home Equity Loan 2nd Mortgage

Everything and the Kitchen Sink
Remodeling Book

You decided to fix up the house, remodel the kitchen, put a new floor down and maybe even get your house painted.  You really would like to get the job done as it is way over due and you don’t have enough funds set aside to pay for the improvements.  What you can do is get a home improvement loan which is a 2nd mortgage that will fund the project.

You will find there are many different lenders available that offer different terms and interest rates.  You need to know how much the improvements are going to cost.  You will need to get some estimates by the contractors that you anticipate hiring.  A written quote is the most valuable as this number will be valid for the time specified.  Knowing how much the improvements will cost will be the first step to getting the loan.  You probably will want to add a little bit extra to the quote price, as construction costs can go over the quote price sometimes.  Home Improvement Loans – Benefits to a Home Equity Loan 2nd Mortgage


Advantages of Refinancing Mortgages – Save Money by Possibly Consolidating Debt into a Home Loan or Renegotiate Your Credit Card Debt with Banks

Advantages of Refinancing Mortgages – Save Money by Possibly Consolidating Debt into a Home Loan or Renegotiate Your Credit Card Debt with Banks

Home Finance

Some homeowners may find themselves with high credit card debt and equity in their homes.  Some will consider debt consolidation as a way to save money and meet their obligations.  It is always a good idea to talk to a professional before making the jump.

Recently credit card companies were required to double their minimum payments while bankruptcy laws have made it harder to extinguish credit card debt in court.  For some homeowners it may make sense to look for a good rate or loan that fits them so they can save money and possibly add a deduction to their taxes.  Always talk to your tax preparer to make sure this is the right course for you.  Advantages of Refinancing Mortgages – Save Money by Possibly Consolidating Debt into a Home Loan or Renegotiate Your Credit Card Debt with Banks


Real Estate Agent Licensing – Steps to Getting Realtor license with help from Real Estate Agent Online Schools

Real Estate Agent Licensing – Steps to Getting Realtor license with help from Real Estate Agent Online Schools

Real Estate

If you ever thought about working as a real estate agent, there is a lot to learn in order to pass the test in order to become a licensed agent.

Not only has online schools become plentiful, they are also diverse.  Online schools are available to help train you for becoming a real estate agent.  These schools will teach you all the real estate laws and terms to help you pass the licensing test with ease.  Make sure that you find courses that cover your state laws as they can vary from state to state.

Look for schools that are DRE (Department of Real Estate) approved or meet the state requirements for your education. Real estate license courses online are convenient to help in the transition from your current employment while offering a comprehensive study of real estate.  By becoming knowledgeable about real estate laws and terms you will not only pass the licensing test, but will also become a better real estate agent. Real Estate Agent Licensing – Steps to Getting Realtor license with help from Real Estate Agent Online Schools


Create A Home Loan Rate - Repair Your Credit and How to Qualify For A Mortgage

Create A Home Loan Rate - Repair Your Credit and How to Qualify For A Mortgage

Qualify for a Loan

In the world of home buying, the process of finding a house and neighborhood suitable to your family’s needs can become laborious even with the assistance of a realtor.  However, if you truly understand your desires and needs, a competent realtor will locate your prospective home through diligence and determination.  Once identified, the real journey of this process begins. 

This is when you must secure funding and obtain that desired rate you so desperately long for.  The industry of mortgage rates is less complicated than portrayed but more sensitive than perceived.  In this article, we’ll try to better understand the concept and not just the numbers.  Create A Home Loan Rate - Repair Your Credit and How to Qualify For A Mortgage


Create A Home Loan Rate - Repair Your Credit and How to Qualify For A MortgageElvis Presley home Sold on eBay to Psychic Uri Geller

Elvis Presley home Sold on eBay to Psychic Uri Geller

1034 Audubon Drive, Memphis, TN

Uri Geller along with two business partners were the winning bidders of the eBay auction for Elvis Presley’s old home.  The auction closed with a winning bid for $905,100.  This was Elvis’s home he lived in before Graceland.

Geller’s goal would be to turn the home into a museum one day.  The property is located at 1034 Audubon Drive, Memphis, TN.  The 2,916 square feet house has four bedrooms and two bathrooms.  Elvis purchased the home originally in 1956 with a $500 down payment.  The house which was built in 1955 has 9 rooms and a swimming pool.  Elvis Presley home Sold on eBay to Psychic Uri Geller


Zillow.com Free Home Evaluation Online - How Does it Work Using Aerial Images and Comparables - Real Estate Appraisals More Accurate

Zillow.com Free Home Evaluation Online - How Does it Work Using Aerial Images and Comparables - Real Estate Appraisals More Accurate

Home and Travel

Homebuyers and sellers have a new tool that will help them determine the value of their home or homes they are considering buying. Zillow.com is a new website that allows visitors to quickly get a zestimate of a property’s value.  What’s more, you can get a birds-eye (low altitude) view of the house and estimates for homes in the area. 

Not only can you see the house from the front, but you can also see it from the back and sides using a 45 degree-angle view from the sky.  Zillow worked out a deal with Microsoft to use their Virtual Earth platform. They supplement these images with ones taken by Pictometry (these are the 45 degree angle views), a supplier of low flying photographs from planes.  Zillow.com Free Home Evaluation Online - How Does it Work Using Aerial Images and Comparables - Real Estate Appraisals More Accurate


Flipping Real Estate Property for a Profit – Is it a Safe Investment?

Flipping Real Estate Property for a Profit – Is it a Safe Investment?

Real Estate

According to ABC’s 20/20 there are a lot of people that investing in real estate to turn around and sell it to make a quick buck.  They discussed a popular “flipping” of real estate which is a real estate term that means to quickly buy and sell a property for a profit.

Flipping real estate for investing is popular among the new home housing tracts.   People line up the night before to get their chance at buying a property for a new housing development.  It is unlikely that they will ever live in the property and they usually don’t even rent the property to keep it in mint condition.  As the property prices go up in value in a short period of time they make a profit on the sale of the property.  Flipping Real Estate Property for a Profit – Is it a Safe Investment?


Patio Covers – Which type to install Fabric, Metal, Vinyl, or Wood Patio Covers?

Patio Covers – Which type to install Fabric, Metal, Vinyl, or Wood Patio Covers?

Sunsetter's Retractable Awning

As the sun starts to heat up for the summer months you may have thought about installing a shade structure on your home.  There are many different types of patio covers and sun structures that can offer you outdoor shade in the hot summer months.  Depending on the location of your home, you may have certain building requirements that will help in making your decision.

You can have the patio structure installed by a professional or a small contractor that is willing to build a cover.  The benefits to having the professionals handle the work, is that they will have to get the permits to build the structure and may also have knowledge about adequate reinforcement for withstanding weather and wind.  One downfall of having a professional install a patio cover is it can be expensive.  Patio Covers – Which type to install Fabric, Metal, Vinyl, or Wood Patio Covers?


How To Save Money With Your Mortgage - Consolidate Debt Into A Home Loan - Refinancing and Renting Out Your Home

How To Save Money With Your Mortgage - Consolidate Debt Into A Home Loan - Refinancing and Renting Out Your Home

Refinancing

So you have finally bought that home you were searching for. You have organized a Home Loan , have moved in and are enjoying your new life. As months go on and the bills start piling up you are probably asking yourself is there anything that can be done to help you meet all your repayment obligations and still allow you to keep your own home. Naturally, the answer is YES.

Here are a few helpful strategies to help you save money with your mortgage:

Debt Consolidation

If as well as paying your mortgage you are also paying off a number of unsecured debts such as credit cards, charge cards, personal loans etc. ­ you are probably paying too much every month. Interest rates on home loans are generally much lower than those on unsecured debts. How To Save Money With Your Mortgage - Consolidate Debt Into A Home Loan - Refinancing and Renting Out Your Home


Finding a Good Mortgage with Bad Credit

Finding a Good Mortgage with Bad Credit

Bad Credit Good Loan

The decision to buy a house is a great one, and nothing can make the outcome of that decision greater than being well informed of what to expect from the process of choosing and getting a mortgage.  If credit history is an issue, prepare yourself and learn beforehand what you can do to optimize and improve it. 

A less than stellar credit history will not automatically exclude you from a mortgage approval.  Armed with this knowledge, buying the right house will not only be possible, but it will be a pleasant experience. 

The first step in the process is to understand the process of mortgages.  Next, decide what you need from a mortgage company, and pick one that will work well for you: not only in buying the home, but also in the long-term ­ the time during which you will be paying off the mortgage.  Lastly, begin planning now, and work to improve your credit history to minimize it getting in the way of an approval.  Being informed will make the process of applying and being approved for a mortgage a much smoother and more pleasant process.  Finding a Good Mortgage with Bad Credit


How rich get richer with residual income?

How rich get richer with residual income?

Business

First, what is residual income and how it works?  Residual income is the earnings that you continue to receive after your initial sale from companies offering this program. In other words, residual income is an effortless earning resulting from your sales efforts in the past.

Residual income accrues on a frequent basis usually on a monthly period. Members under you called downline generate the earnings known as residual income. More members in the downline means more income. Each member in every company with the residual income plan holds a position. In every organization members come and go or stay for variety of reasons, but positions remain. Holding your position in your company is the key to get the desired results.

The network of members in companies with residual income plan is called matrix.  How rich get richer with residual income?


Swimming Pools – Should you build an above ground Pool or construct an underground Swimming Pool

Swimming Pools – Should you build an above ground Pool or construct an underground Swimming Pool

Vinyl liner in an underground pool

Swimming pools are nice to have on a hot summer day, but should you invest in an underground swimming pool?  If you already know that you will be using the swimming pool, and know what work and costs lay ahead for maintenance you should go for the gusto and build the pool in the ground. 

There is no doubt that an underground swimming pool is elegant and beautiful to look at but the reality a swimming pool has time and money involved with owning one.  If you are a first time pool owner and have never had anything larger than a kiddy swimming pool, you might want to try out the above ground pool first to get an idea of what owning a swimming pool would be like. Swimming Pools – Should you build an above ground Pool or construct an underground Swimming Pool


Florida Refinance Mortgage Rates Are Rising - 30 Year Fixed Rate Loans May Go Up - Convert Adjustable Rate Mortgages (ARMs)

Florida Refinance Mortgage Rates Are Rising - 30 Year Fixed Rate Loans May Go Up - Convert Adjustable Rate Mortgages (ARMs)

Florida Real Estate

With Florida home mortgage rates rising now is the time to refinance. Refinancing now turns home equity into cash to pay off credit cards or car loans.

Even if the mortgage rate is a little higher than expected, opportunities exist to “buy down” an interest rate.  This is a process where you pay extra points to the lender to get a better interest rate.  It costs more at the beginning of the loan but greater savings are made over the mortgage term.

Mortgage rates are ever changing and there are many factors that determine Florida refinance mortgage rates. The Fed, economic indicators, international crisis and the labor market are just some of the main components that push mortgage interest rates up or down. Long-term Treasury yields, like the 10 year note, are the central focus for fixed rate mortgages.  Florida Refinance Mortgage Rates Are Rising - 30 Year Fixed Rate Loans May Go Up - Convert Adjustable Rate Mortgages (ARMs)


California First Time Home Buyer Program Offers Zero Down Payment Home Mortgage Loan

California First Time Home Buyer Program Offers Zero Down Payment Home Mortgage Loan

No Money Down

For a California first time home buyer, the down payment is probably the biggest hurdle. It has been planted in the buyer's mind that a twenty per cent cash down payment is required.

But the mortgage marketplace is changing and with a good income and good credit, homes can be purchased with zero down, one hundred per cent financing.  There are California lenders that have specialized programs that want to help people purchase their first home. Some programs are tailored for people with damaged credit, while most can help people with little saved for a down payment.

There are numerous lenders that specialize in loans for first time home buyers. Some of these lenders will even loan up to 103 percent of the home's purchase price to include closing costs. California First Time Home Buyer Program Offers Zero Down Payment Home Mortgage Loan


Online Real Estate Brokers Can Save You Thousands of Dollars - Both Home Buyers and Sellers can List or Research Houses for Sale

Online Real Estate Brokers Can Save You Thousands of Dollars - Both Home Buyers and Sellers can List or Research Houses for Sale

Save Thousands of Dollars

If you are in the market to buy or sell a home, you may want to consider using online sources for your transaction.  Online real estate brokerage services were recently featured on an ABC News broadcast.  They discussed the pros and cons.  Of course, the traditional broker will provide better service, but it will likely cost you more.  If you are not afraid of filling out some forms and doing some research yourself, you could save thousands of dollars.

Some services may charge as little as $99 (depending on location) for a transaction while others may discount the commission on a percentage basis.  These brokers will usually focus on the state where they are licensed or based in.  So what should you look for?

Probably the most important feature needed to sell a home is the Multiple Listing Service (MLS).  Up until recently, this database of homes for sale has been undisclosed to anyone that was not licensed.  You will also want to find out if your home will be listed with Yahoo.com, Homeseekers.com, Homeadviser.com and Realtor.com.  These services provide pictures and details of houses for sale around the whole United States.  Online Real Estate Brokers Can Save You Thousands of Dollars - Both Home Buyers and Sellers can List or Research Houses for Sale


Oprah's Debt Diet - How to Get Rich - Not Just Get Out of Debt - David Bach and Robert Kiyosaki Books Give Good Advice

Oprah's Debt Diet - How to Get Rich - Not Just Get Out of Debt - David Bach and Robert Kiyosaki Books Give Good Advice

Rich Dad

Oprah has been running a series called the Debt Diet, featuring author David Bach.  Many authors and experts have recommended investing in real estate to build wealth, and David is no different.  Robert T. Kiyosaki, author of the popular book Rich Dad Poor Dad, also recommends investing in real estate, not necessarily the stock market. 

David Bach recommends you buy a home, live in it, and then buy another.  Like millions of other people each, David says build your wealth through real estate.  Amazingly homes can make you money while you sleep.  Some people have realized a profit of $300 per day or more, as their home values increased over the past few years.  Imagine that, an extra $300 per day. 

Everyone needs to start somewhere.  First buy a house to live in, which may seem impossible to some people, but you need to work out a plan to get there.  The Oprah show recommended looking for other sources of income.  For instance, one guest made extra money by helping a friend paint houses.  Another guest took on a summer school teaching job to supplement her income.  Oprah's Debt Diet - How to Get Rich - Not Just Get Out of Debt - David Bach and Robert Kiyosaki Books Give Good Advice


Is Zillow a Good Alternative to Hiring An Appraiser?  How do Online Appraisals Compare to Professionals - What to Look For

Is Zillow a Good Alternative to Hiring An Appraiser?  How do Online Appraisals Compare to Professionals - What to Look For

Las Vegas

If you’ve heard anything about Zillow and its so-called house price “Zestimates” in the past month, you’re likely to answer this question in the negative. Zillow is a online calculator created to offer the homebuyer and seller quick access to home values across the country.  It was was supposed to revolutionize the real estate industry.

As of now, this has yet to occur. The brainchild of Rich Barton ­ the former CEO of Expedia who transformed the travel industry by making it easier for people to purchase plane tickets and travel packages online­ Zillow was hyped up as the next big thing and intensely marketed in the media. But in the end, the excitement petered out once people had a chance to try it out. At its best, Zillow misses the dollar value of a house by 5% - 7%. At its worst, property is undervalued by much more.  Is Zillow a Good Alternative to Hiring An Appraiser?  How do Online Appraisals Compare to Professionals - What to Look For


2nd Home Mortgage Loan – Benefits to having a Home Equity Line of Credit

2nd Home Mortgage Loan – Benefits to having a Home Equity Line of Credit

Real Estate

A second mortgage on a home can be beneficial to have.  It usually offers lower interest rates compared to credit cards and you also can have lower monthly payments.

While credit cards companies offer temporary promotional rates of 0% interest rates, you might not be able to pay off these credit cards if the amount is too much and be hit with high interest rates as time goes on.

It is better to set up a second home equity line of credit before you even need it.  If something unexpected happened that was very expensive you would be able to finance it without having to worry about getting approved at the time you need it most.  It can cost $50 a year or more depending on the lender to have a home equity line of credit.  Usually the first year is free.  2nd Home Mortgage Loan – Benefits to having a Home Equity Line of Credit


What to Look For When Shopping For Loan - What Are Fannie Mae - Freddie Mac - FHA HUD and VA Loans - Government Assistance For First Time Home Buyers

What to Look For When Shopping For Loan - What Are Fannie Mae - Freddie Mac - FHA HUD and VA Loans - Government Assistance For First Time Home Buyers

What to Look For

The good thing about loan programs is that there are so many loans to choose from.  The bad thing about loan programs is that there are so many loans to choose from.  So how do you decide what loan fits you best? 

If you have at least 3% of the loan amount for a down payment, you might consider the most common type of loan, a conventional loan.  These are conforming loans, which are secured by government sponsored entities (GSE) such as Fannie Mae (FNMA), and Freddie Mac (FHLMC).  Jumbo loans (or loans for large amounts of money) must be funded by private investors.  Jumbo loans exceed the amounts set by GSE’s.

Fannie Mae and Freddie Mac are considered secondary market lenders.  Retail lenders will actually receive their funds from a secondary market lender. What to Look For When Shopping For Loan - What Are Fannie Mae - Freddie Mac - FHA HUD and VA Loans - Government Assistance For First Time Home Buyers


Tankless Water Heaters Can Save Money - Higher Natural Gas and Propane Prices Make Energy Saving Waterheaters More Popular

Tankless Water Heaters Can Save Money - Higher Natural Gas and Propane Prices Make Energy Saving Waterheaters More Popular

Outdoor and Indoor Tankles Water Heaters

Now that natural gas prices and propane prices have shot up, the hot story for consumers is the tankless water heaters.  If you are considering purchasing a new water heater, you should consider the tankless models.  Sure most people wait for the old one to go-out before they drive down to Home Depot or Lowes to shop for a water heater, but you could begin saving money immediately with these new heaters.

Conventional water heaters must heat water on standby before the water is even used.  Tankless water heaters do not have a storage or standby tank, so the water is heated only when you turn the spigot. 

According to California Edison, you can save 10% to 20% on your gas bills by switching to tankless water heaters.  You will also save on space.  Edison says “The average propane-powered tankless water heater is about 24 inches high, 18 inches wide and 9 inches deep -- significantly smaller than storage tank-type water heaters -- although sizes vary.”  Tankless Water Heaters Can Save Money - Higher Natural Gas and Propane Prices Make Energy Saving Waterheaters More Popular


Home Improvements that will Increase the Value of your House when you are ready to Sell

Home Improvements that will Increase the Value of your Home when you are ready to sell

House with curb appeal

Home improvement can add a lot of extra cash value to your home when you go to sell it.  You need to know how much value will be added and if it is worth actually going through with the home improvement project.

There are times when people overspend on a kitchen remodeling project and actually will lose money on the investment when the go to sell it.  What you need to do is to make sure you know what your house value is currently worth and what surrounding homes in your market are worth.  If your home is at top dollar value for the neighborhood, you would not likely want to spend of money on home improvement.  You would work on just cleaning up your house to be as neat as possible.  Home Improvements that will Increase the Value of your House when you are ready to Sell


Zestimate Offers Free Instant Online Appraisals – Zillow.com Helps Determine What Home is Worth – Appraisers and Broker Agent Business

Zestimate Offers Free Instant Online Appraisals – Zillow.com Helps Determine What Home is Worth – Appraisers and Broker Agent Business

Zestimate Map

There is a new website that may make appraisal fees a thing of the past.  At least that is what some have speculated about Zillow.com (otherwise known as Zestimate).  Rich Barton, Zillow chairman and CEO said “Until now, finding out a current market value of any home -- whether it's yours or one you want to bid on -- has been quite difficult.” 

Banks pay appraisers $300 or more for appraisals, depending on the difficulty of the valuation.  Most of the time appraisers can look at the property, take some pictures and compare the subject property to comparables.  This is a relatively simple process for track homes, but can become more difficult for older homes or non-conforming houses. 

Some appraisals can be difficult to calculate.  Sometimes the appraiser will need to find the worth by determining the value of the land by comparison, and then by adding the cost of construction of the house.  The appraiser may subtract depreciation, due to the age of the improvement (i.e. the building). The appraiser will always document the final valuation process.  Zestimate Offers Free Instant Online Appraisals – Zillow.com Helps Determine What Home is Worth – Appraisers and Broker Agent Business


Profitable Real Estate Internet Marketing Strategies

Profitable Real Estate Internet Marketing Strategies

Using the Internet to Market

More and more people are turning to the Internet to find local resources. At the top of the list is the search for real estate and agents. The experts predict the next wave of the Internet will be local marketing.

Currently the real estate industry is leading the way with estimated online marketing expenditures exceeding $1 billions for 2005. That amount is expected to grow substantially over the next few years. There are those realtors who have figured out how to successfully market online, and are reaping the rewards. What are those rewards?

A source of new customers at a much lower cost per acquisition. As a realtor here are some facts that you simply can’t ignore: More then half (56 percent) of all consumers now use the Internet when buying real estate, which is up from 28 percent in 2000. When asked where they first learned about the home they purchased, 24% of buyers identified the Internet. Profitable Real Estate Internet Marketing Strategies


Ready Buyers for Your Real Estate Property

Ready Buyers for Your Real Estate Property

Real Estate

When you’re ready to put your property on the market, you want to get the most qualified buyers to take notice. This is especially the case if you have already purchased another property or need to relocate within a short time span. Rather than spending days bickering over a fair selling price or financing terms, you may want to draw those who are ready to do business, so you can finalize the deal as soon as possible. If that’s the case, here are some tips that can help to attract those who are ready to sign on the dotted line.

1. Avoid contingency offers. These buyers have a property of their own to sell, and may not even have any firm purchase offers they are negotiating. If you sign a contract with this type of buyer, the sale of your property might not be final until their property sells. Ready Buyers for Your Real Estate Property


Enhanced Buying Power in Today’s Real Estate Economy

Enhanced Buying Power in Today’s Real Estate Economy

Investment Property

Are you looking for a good investment property? This could be a piece of land to build on, an existing structure for rental purposes, or a home or condo that you will occupy. Yet, any of these purposes may lend themselves to investment advantages if you plan to build up some equity over the next few years before selling the property for a profit.

If you do plan to resell the property within a relatively short amount of time, you will want to keep a few guidelines in mind when you go shopping for your property purchase.

1. Location, location, location. Yes, as most realtors will agree, location is everything. Of course, that is not to say that some people have not turned around a house in a low-income neighborhood and made a nice profit on it, but for the most part, you want to buy something in a desirable neighborhood that will attract a good selection of buyers. Enhanced Buying Power in Today’s Real Estate Economy


How to Get Top Dollar from Your Home or Condo

How to Get Top Dollar from Your Home or Condo

Get Top Dollar for Your Home

Every property owner wants to receive the maximum profit from a home or condo sale. Although your property may already look great and represent a super offer to potential buyers, here are a few tips that can help to bring out its best features.

1. Emphasize curb appeal as you work on your home’s external appearance. Trim the lawn and eliminate weeds. Dress up the porch or front door with a fresh coat of paint and hanging plants or a wreath. Set out a couple of cozy chairs, and pick up all the kids’ toys around the yard. Your front entrance will welcome or repel guests, setting the tone for their overall basic impression.

2. De-clutter the interior. Remove junk like stacks of newspapers or magazines, pet toys, and stray blankets or mail. Store unused furniture in the attic or basement. Your rooms should look comfortable and lived in without feeling crowded. Cover worn spots in furniture with doilies or slipcovers. How to Get Top Dollar from Your Home or Condo


The Top Five Realtor Skills That Will Sell Your Home

The Top Five Realtor Skills That Will Sell Your Home

Choose the right Realtor

When shopping for a realtor, look for one who can get the job done. You want your property to be sold to a qualified buyer in the shortest amount of time possible. That means you need to find a real estate agent who knows the market, understands the economy, and is willing to position your home in an attractive market niche. Here are some of the most important qualities to look for when signing with a real estate agency to sell your home.

1. Reputation. Does the agency enjoy a favorable reputation in the community? Are buyers and sellers eager to work with this company and its agents for real estate transactions? Avoid those with out-of-date or disreputable characters. Look for top-of-the-line realtors who know their stuff and will go out of their way to make a deal work for both buyer and seller. This doesn’t mean you have to go with the most expensive realtor, but rather, that you should look for one with a positive history of satisfied customers and productive sales.  The Top Five Realtor Skills That Will Sell Your Home


Can Your Realtor Negotiate the Best Sale For Your Home?

Can Your Realtor Negotiate the Best Sale For Your Home?

Home Sales

When you get ready to sell your home, you want to be sure that the real estate agent who represents your property will do the best possible job. You may need to interview a couple of agents or realties before making a decision on which one should sell your property. Don’t hesitate to ask questions or talk to several realtors before choosing one to sell your home.

How do you know if a realtor will do a good job for you? Here are some things to look for when choosing an agent.

1. Look for a good communicator. This person should be able to explain complex terms clearly. He or she should be readily available, and return telephone calls within a reasonable amount of time. Can Your Realtor Negotiate the Best Sale For Your Home?


Zillow Website will calculate what a Home is Worth – Offer’s Free Home Appraisals called a Zestimate

Zillow Website will calculate what a Home is Worth – Offer’s Free Home Appraisals called a Zestimate

Zillow.com offers Zestimates

Every wonder what your house is worth?  Need to refinance your home or thinking of selling or buying?  The newly launched website Zillow.com, gives complete data on your home value much like an appraisal service will do.  It compares other homes in your area, offers satellite photos of a specified street.  It also compares daily interest rates and housing prices in general.

The Zillow website calls there appraisals a “Zestimate” and offers daily tracking of your housing price much like a stock market analysis.  Zillow has a database of over 60 million home prices.  The majority of the prices are for the West Coast, and they are working on expanding the data to reach across the country.  They have East Coast locations that cover Boston and many home prices in Florida.  If you are on the East Coast, their data will reach your neighborhood soon.  Zillow Website will calculate what a Home is Worth – Offer’s Free Home Appraisals called a Zestimate


How to qualify for your first Home Loan

How to qualify for your first Home Loan

House

There are a few things that you need to have accomplished before searching for you new home.  Usually a real estate agent wants to have a letter of pre-qualification for a home loan to start shopping for a home.  In order to qualify for a home loan you need to meet certain requirements.

Before you apply for any home loan you should get a copy of your credit report from the credit reporting agencies.  You can either sign up for a yearly monitoring service that will send you a report once a year with quarterly updates for credit changes, or you can contact each of the agencies directly for a copy of the report.  Try to get your credit report cleaned up and improve your credit score.  If there are any errors contact the reporting agency to get the information corrected.  How to qualify for your first Home Loan


Refinancing your Home Loan to Consolidate Debt

Refinancing your Home Loan to Consolidate Debt

Money

With the hints of higher interest rates, it may be time to lock in all your credit card debt by refinancing your Home Loan.  Not only are higher interest rates looming, you also have to worry about new laws that have doubled the credit cards minimum payments.

If you only have $10,000 in credit card debt you are probably better off paying the debt or getting a second on your home.  The reason for this is because the cost to refinance a home loan is usually not a free service.  If you shop around you should be able to avoid some loan fees.  Refinancing your Home Loan to Consolidate Debt


Financial Considerations when Refinancing and Consolidating Home Loans and Credit Card Debt

Financial Considerations when Refinancing and Consolidating Home Loans and Credit Card Debt

Credit Considerations

There are some things you should consider before making a decision about refinancing your house. Interest rates may be on the rise so now may be a good time to think about your financial situation and plan a course of action.  If interest rates do go up, they will likely go up on credit cards as well.

Since the new bankruptcy laws have taken effect, it is harder to avoid defaulting on unsecured debt like credit card loans.  It becomes more appealing for some to place the credit card debt into a refinanced home loan package.

In 1981 the Prime Interest Rate was over 18%.  Right now the prime interest rate is a little less than 8%, but that is almost double what it was in 2004.  Interest rates go up and down.  If you have an adjustable rate home loan and interest rates go up you could be paying more each month. Credit card rate are always well above the Prime interest rate.  Financial Considerations when Refinancing and Consolidating Home Loans and Credit Card Debt


What to Consider when Refinancing a Home - Fixed Home Loans via Brokers

What to Consider when Refinancing a Home - Fixed Home Loans via Brokers

Home Loans

There are many things to consider when refinancing your home.  One of the important considerations is who or what company to use when refinancing.  Also speak to your financial consultant before making any decisions.  The refinancing option may not be worth it.

There is a cost associated with refinancing a home.  There are various parties that may take a fee, including a loan broker.  Loan / mortgage brokers can be helpful in shopping for a loan.  You only need to supply your information once and they do the rest.  You save yourself the loss in credit-score by having multiple inquiries on your credit.

Some mortgages have a prepayment penalty.  If your current loan has one of these clauses it will add to the cost of refinancing.  These prepayment penalty clauses should be avoided in your new loan as well. What to Consider when Refinancing a Home - Fixed Home Loans via Brokers


Home Loan Options and Considerations as Interest Rates Rise

Home Loan Options and Considerations as Interest Rates Rise

When to Refinance

There are many options for financing a home.  Many homeowners that originally financed their home are wondering if they should refinance their home before rates go up.  Since their rates are tied to a fluctuated interest rate, it may be a good option.  You may want to talk to a financial advisor before doing so.

According to the forcasts.org website, the prime interest rate is expected to go up this year.  In 2004 the prime interest rate has made a steady climb from a little over 4% to over 7% today.  They expect the rate to climb to 7.49% by June. 

One thing you need to check before you decide to refinance is your current contract.  Is there a pre-payment penalty if you decide to pay off the loan early in order to take out a new fixed rate mortgage?  Home Loan Options and Considerations as Interest Rates Rise 


Real Estate Classes first before you Start Investing with No Money Down

Real Estate Classes first before you Start Investing with No Money Down

RE Classes First

Stock investments for 2005 were less than eventful overall.  The Dow stock index was down .61 percent and the S&P did not do much better.  The S&P 500 was up just 3%.  Not all investments showed such meager returns.  Morningstar found that Real Estate funds were up over 11%.

But how does a person get into the real estate business?  There are some methods of buying real estate with little or no money down. You will need to be serious and maybe even get your hands a little dirty though. 

The first thing you need to do is start investigating two avenues in this business.  You will need to look for both investors and sellers.  A great way to get to know investors is to get involved in the industry.  Take some classes and become either a licensed real estate agent or an appraiser.  Real Estate Classes first before you Start Investing with No Money Down


The Benefits of Buying a HUD Foreclosure or Repo

The Benefits of Buying a HUD Foreclosure or Repo

Due your own research

For as long as I can remember I have heard of people buying HUD homes and fixing them up and selling them for a profit.  We did just that a few years ago and doubled our money in two years.  There are risks though.

A division of HUD (Housing and Urban Development) oversees the Federal Housing Administration (FHA) that insures loans for banks.  Sure you have heard about FHA loans before, but FHA does not actually loan the money they only guarantee the loan.  This makes it easier for banks to loan to people that would normally not qualify for a loan.

HUD is great because the loans are given to risky people.  This means they are more likely to default on the loans.  This is good for investors because the government is not so hot at getting top dollar for their foreclosures.  They hardly ever do anything to the property to make it more appealing.  This is a great opportunity if you are looking for a fixer-upper. The Benefits of Buying a HUD Foreclosure or Repo


Special Loan Programs and Financing Help for Real Estate Purchases

Special Loan Programs and Financing Help for Real

Quiz your Agent

There are many ways to get help buying a home.  There are outright grants and there are loan guarantees. We have sold a condo where the buyer got an outright gift from the city for a down payment. 

Whether you are buying or selling your home you should be aware of these programs and so should your Real Estate agent.  The agent should know what is necessary for writing an FHA backed loan.

The U.S. Department of Housing and Urban Development (HUD) provides lenders with loan guarantees through FHA.  If the buyer defaults the government will step in and pay the lender off.  At that time HUD takes back the property for resale.  This guarantee makes lenders more likely to loan to home purchasers that they would not normally loan to.  Special Loan Programs and Financing Help for Real


Online Websites help Home Buyers find a Home

Online Websites help Home Buyers find a Home

Online MLS listing

The realtor is a very important part and is a necessary part of the home buying process; however the internet offers listing online to help you find the house that is right for you.

We found that in our search for finding a home it was very helpful to search online because the real estate agent does not let you look at all the homes that are in the MLS.  It will give you an idea what the market is like and if you are getting a good buy for your money.  Online Websites help Home Buyers find a Home


No Money Down Lease Option For Buying Real Estate

No Money Down Lease Option For Buying Real Estate

Lease Option Buying

Qualifying for a loan can be difficult for many people.  Some buyers do not make enough money and others may not have the credit rating or may have just gotten a new job.  A lease option may be a qualifying alternative and these deals are out there.

The lease option involves creating a sales agreement where the buyer gains control of the property but not the ownership.  The contract spells out a future date where the property transfers ownership.

Not all properties are up to code and able to qualify for a loan without major improvements.  The seller may own the home outright without encumbrances but realizes that the property needs an investment of both time and energy before a bank will offer a purchaser a loan.  No Money Down Lease Option For Buying Real Estate


Timing is Important when Buying and Selling Homes

Timing is Important when Buying and Selling Homes

Timing is important

One of the most stressful times in a person’s life is when he or she buys a home.  The decision process is usually long and there is usually second guessing involved after the deal is done.

The seller will wonder if he could have gotten more money for his property. They buyer wonders if he could have gotten it for a lower price or maybe should have waited.  Both may wonder if they did the deal at the most opportune time. 

Housing prices tend to rise before and during the summer when most people have more time to move.  They may take a dip after the summer when the kids get settled in school and there are fewer buyers in the market.  Timing is Important when Buying and Selling Homes


How to Buy Real Estate with No Money Down

How to Buy Real Estate with No Money Down

How to buy a Home

Late night TV is full of seminars touting no-money real estate buying systems.  Real estate has been booming the past few years and many people have made many millions of dollars investing.  So what methods can a person employ to buy property with no money down?

A popular method is to “bird-dog” property.  Investors are always looking for deals but don’t have the time to search out every opportunity.  Some investors are open to deals found by bird dogging.  They may pay you a finder’s fee or cut you in on some of the action.

You may want to begin by signing up for lists of foreclosures.  There are some drawbacks to this method of finding undervalued properties.  Property owners in foreclosure typically are not that happy.  They are swamped with bird-doggers looking to capitalize on their misfortune.  How to Buy Real Estate with No Money Down


How to Buy a Home Real Estate or Property from HUD

How to Buy a Home Real Estate or Property from HUD

Visit the HUD website

Like anyone stuck with foreclosed property the Department of Housing and Urban Development (HUD) is looking to sell their assets.  HUD takes properties back when homebuyers fail to make payments on FHA loans.  It is in HUD’s best interest to not lose money on these deals.

In an effort to curb losses HUD has assigned various professional brokerage firms around the country to handle their asset sales.  For instance in Southern California HUD has assigned Pemco to handle all HUD foreclosure sales.  In New York HUD assigned National Home Management Solutions to provide the brokerage services.  HUD has a link to the various assigned brokerage firms throughout the country.

These HUD brokers will usually have a search box on their website so you can locate the available properties.  You will want to find a HUD registered broker to assist you in viewing the properties.  These agents / brokers will have keys or codes to allow access into the properties.  There is a list of brokers available on the various HUD listing broker sites.  How to Buy a Home Real Estate or Property from HUD

 

 
 
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Copyright 2005 Best Syndication                                            Last Updated Sunday, July 11, 2010 01:18 AM