Honest Realestate Agent

Archive for July, 2009

A three room house that’s located in the suburbs of Chicago, surrounded by a good community is up for sale.It is freshly painted, cleaned, and ready to move intoIt’s worth $215,000.The arranged monthly rent payments is $1,500, but being a buyer tenant, a 50% rent credit is given which drops the price to $750 a month. What you need is around 2.5% to 7% for option consideration, which is what serves as down payment. A $1,500 additional is also needed for the first month’s rental, and that brings the total first payment to $7,500.

It is important that you are aware of these minor but important rent to buy details. Keep in mind that this option consideration should not be considered as security deposit.It is non-refundable and is a hundred percent credited toward reducing the price of the house.

Suppose you have paid all your monthly rentals and have decided to buy the rent to own house on the lease purchase contract which is at the end of 12 months.Because of the rent to own option, you are given an equity of $15,000, something that an outright buyer, or someone with a bank mortgage would be not have.

Beginning with $6,000, and with paying your rent on time, the equity position you have will grow 150% for a total of $15,000 in a year. Imagine this much savings, a $9,000 dollar addition which is very difficult to obtain in a year.

A 5 to 7% commission is typically given a realty service firm if it is sold through them.This will rise the cost more than how much the owner would spend for rent credit.

Owning a home is a dream shared by so many out there.Because of so many issues and considerations, so many people do not qualify for thisOld credit issues or not having enough money for down payment, these easily affect your chance of getting a home. With any problem, difficulty, or situation you are encountering as of this moment, the rent to own program give your dream of getting a home a little closer to reality.All you need to remember with rent to own programs is, like any other transactions, make sure the details are clear, the house is in good condition, and you are well aware of everything involved in the deal.

The term real estate investing likely brings a number of things to mind. Depending on how familiar you are with real estate investing already, you might think of real estate portfolios and real estate retirement plans, or you might focus on short sales, bulk reo investing and virtual real estate investing. Likely you also wonder how these things will factor into your life as a real estate investor in the current economy.

You can learn a lot about real estate investing. The best way to optimize your real estate investing education is to know the basics ahead of time. Whether you are interested in short sales, bulk reo sales, virtual real estate or just improving your abilities as a real estate investor, you need to know some real estate investing basics in order to succeed. Review these three real estate investing basics that even some experts don’t yet know:

1. You always will get a positive result from investing in real estate investing education. You can create thousands of dollars in potential wealth with each real estate deal. The knowledge of how to get that wealth is the key to your success. Knowing more about real estate betters your odds of success when you do a real estate deal. Small investments in education yield big results upon implementation.

2. Real estate investing success is possible in any economy. Many people think (wrongly) that you can only succeed in real estate when the economy booms. In reality, a bad economic situation is not bad for real estate investors. You frequently can get properties at deep discounts. Additionally, you may find deals that would not exist in a booming economy. Real estate investing often is what turns the tide for poor economies. When the economy is not thriving, short sales, bulk reo sales and virtual real estate can all thrive. You can save yourself and others from major financial woes if you know how to do these deals.

3. You do not need lots of your own cash to be a successful real estate investor. You can make a success of real estate investing no matter how much or little money you have. Many types of deals enable you to use other people’s money to do them. If you are a good investment private lenders may let you use their money. The best way to look like a solid investment is to have an in-depth knowledge of real estate investing. This will enable you to show people who have money for real estate investing but may not know how to use it that you are a good investment.

Real estate investing is a great way to generate wealth. You will have the ability to create income in any economy. Using a knowledge base of real estate investing, short sales, bulk reo sales and virtual real estate you will be able to make success for yourself. Real estate investing basic knowledge will help you succeed as a real estate investor.

The weakness of the U.S. economy has given rise to the largest epidemic of foreclosures in American history. But smart real estate investors are turning these ‘lemons’ into ‘lemonade’ in an incredibly profitable new way.

‘Bulk REO Investing’ is the name of the new strategy, and it’s captured the attention of many well-heeled investors.

The basis of the Bulk REO business is foreclosures, so let’s analyze the foreclosure process now.

Understanding the notion of Bulk REO’s requires understanding of the foreclosure process.

Mortgage lenders faced with a non-paying home owner send a large volume of threats, warnings and documentation to the borrower who is late. Following a period of time determined by the lender, formal foreclosure proceedings begin. The name for this period is ‘preforeclosure’.

Foreclosure is completed when the property is put up for auction. If there are no buyers for the property at auction, the property is returned to the lender. The lender then categorizes the property as ‘Real Estate Owned’ – or ‘REO’ for short.

Lenders have no interest in owning property, and thus usually opt to list their REO properties with a local real estate broker in hopes of a retail sale. However, lenders are increasingly willing to take much less than their REO asset is actually worth. Lenders are willing to do so in exchange for the buyer’s agreement to purchase a ‘package’ of REO’s rather than a single property.

There is huge profit potential in these REO packages for qualified real estate investors. REO packages are easiest to buy and sell with a well regarded source of financing in place. Some sources of funding for these transactions are: personal funds, hard money lenders, commercial lenders and non-conventional sources such as private investors and hedge funds. One excellent source of funding for Bulk REO Investment transactions can be found here: Bulk REO Investment Training.

With more foreclosures now than ever before, America’s weak real estate market seems to set new dismal records each month. Yet as always, this challenge has given rise to a huge new opportunity for alert real estate investors.

This new opportunity – known as ‘Bulk REO Investing’ – is so huge it’s captured attention from wealthy investors and private investment funds alike.

Let’s take a moment to analyze the basics of this incredibly lucrative business.

You can’t understand Bulk REO Investments without understanding the process of foreclosure.

Mortgage lenders faced with a non-paying home owner send a large volume of threats, warnings and documentation to the borrower who is late. After a certain period, the lender will then formally begin foreclosure proceedings. ‘Pre foreclosure’ is the name given to the time between implementation of the foreclosure proceedings and the public auction.

The defaulted property is ultimately auctioned, thus completing the foreclosure process. Ownership of the property is returned to the lender if the property is not sold at auction. Such a property is then classified as an ‘REO’ (Real Estate Owned) by the lender.

Lenders usually try to unload their REO properties at close to retail price by listing their REO’s with a real estate broker. Yet with increasing frequency, REO properties are being sold for pennies or dimes on the dollar. Lenders are willing to do so in exchange for the buyer’s agreement to purchase a ‘package’ of REO’s rather than a single property.

There is huge profit potential in these REO packages for qualified real estate investors. REO packages are easiest to buy and sell with a well regarded source of financing in place. Some sources of funding for these transactions are: personal funds, hard money lenders, commercial lenders and non-conventional sources such as private investors and hedge funds. One excellent source of funding for Bulk REO Investment transactions can be found here: Bulk REO Investment Training.

lots

Whitefish is a wonderful small city located in the County of Flathead, Montana. It is home to Whitefish Mountain Resort, a heavily used ski resort,  and to Whitefish Mt Real Estate company who proudly sell homes, condos and many build-able home lots for those looking to build their own custom single family dream home here in this beautiful part of the U.S.

Many visitors to this area dream of being able to build their own home on a piece of property personally picked out and paid for.One of the worst ‘wake up calls’ is the amount of time and money that it will take to accomplish their goals.  Building the home yourself is complicated to say the least and there are many aspects to be looked into.Don’t underestimate the many aspects of construction involved with building any project from ground up.Even with a pre made custom home plan, you still have to adhere to the local codes and zoning laws.Your home plan, and material list, will still have to be approved by the local building department in your city or town.

After finding the lot to build on, you need to know where the utility sources are, including sewage hookup, and then get permits for connections.Much of this needs to be checked before you buy the lot. If you don’t, you may end up buying a piece of land that you wont be able to build a home or anything else on. Make sure the town or city will allow you to build anything on this lot.

You have decided to handle the general contractor duties, now you will have to get many different skilled professionals like plumbers, electricians, carpenters, concrete contractors, etc.You also have to buy materials like lumber, pipe, concrete, plaster, appliances, etc.Check to be sure that all of the materials and any other needs are available in the area close to where you are building.We have only covered some aspects of building your own custom dream home, and there are many other aspects that we have not covered.The key here is to do your homework first, this is important.  

After getting positive answers to all of the questions listed above (and there are somemore not listed), go for it.Seeing your project advancing, day to day, then finally being finished is well worth the effort if you have the time and money to do it yourself.Good Luck on the construction project.

The term real estate investing likely brings a number of things to mind. You likely leap to real estate investing as real estate portfolios and real estate retirement plans, and then you may expand to thinking of short sales, bulk reo investing or virtual real estate investing. You may also wonder what type of role these things can play in your life as a real estate investor in different types of economy.

There is a lot to learn about real estate investing. The best way to get the most out of your real estate investing education is to be familiar with some basic information ahead of time. Whether your target is short sales, bulk reo sales, virtual real estate or improving real estate investor abilities, you need to know some real estate investing basics. Check out these three real estate investing tenets that many experts do not fully know:

1. You will always end up with a positive yield when you invest in real estate investing education. In any real estate deal, there will be thousands of dollars in potential wealth. The knowledge of how to get that wealth is the key to your success. Knowing more about real estate betters your odds of success when you do a real estate deal. Small investments yield big results when you invest in learning and then implement what you learn.

2. You have the ability to succeed in real estate investing in any economy. Lots of people believe that real estate success is only possible in a booming economy. Actually a poor economy is not a bad economy for real estate investors. You can often buy properties at deep discounts. In addition, you can find deals that simply would not exist in a booming economy. Real estate investing often is what turns the tide for poor economies. When the economy is not thriving, short sales, bulk reo sales and virtual real estate can all thrive. You can save yourself and others from major financial woes if you know how to do these deals.

3. A lot of money is not vital to your success as a real estate investor. You can succeed in real estate investing no matter how much money you have. There are lots of types of deals that you can perform with the money of other people. If you are a good investment private lenders may let you use their money. The best way to be a good investment is to know as much as possible about real estate investing. Then you will represent a good investment to other people who have money for real estate investing but do not know how to use it.

Real estate investing is a great way to generate wealth. You will have the ability to create income in any economy. Using a knowledge base of real estate investing, short sales, bulk reo sales and virtual real estate you will be able to make success for yourself. Knowing some real estate investing basics and applying them will help you succeed as a real estate investor.

Solar heating for swimming pools has become a popular and less expensive way for people across the country to heat their swimming pools. Natural resources such as solar power and solar heating are now being used when it comes to a cost effective way for people to heat their swimming pool. There is more than one way to use solar heating for swimming pools. The solar panels can either be positioned on top of the pool owner’s home or on the ground near the pool itself. Another option is to place a solar panel power strip on top of the pool when it is not being used during the daytime.

A house won’t even appear to have solar heating for pools panels on the rooftop because they blend in to look like a part of the roof itself. If someone is looking to add solar heating for swimming pools to their pool they can purchase solar panels that appear to be shingles or pieces of the roof itself. When performing solar heating for swimming pools pressure valves and a filter must also be bought to complete the process. The pipes are attached along the side of the home up to the solar panels, which are called collectors.

When performing solar heating for pools the energy is sent from a filter to a pump to the pool to heat the water. It can costs thousands of dollars per year to heat a swimming pool with a conventional heating system instead of using a solar heating for swimming pools system. Purchasing a solar heating system will cost a couple thousand dollars at first and then not much afterwards for maintenance. A home with solar power systems has its value increase over the years.

The weakness of the U.S. economy has given rise to the largest epidemic of foreclosures in American history. Yet well-funded investors in real estate are seizing upon this opening to profit from an profoundly profitable new opportunity.

That opportunity is called Bulk REO Investing, and the opportunity is huge.

Let’s take a moment to analyze the basics of this incredibly lucrative business.

Understanding the notion of Bulk REO’s requires understanding of the foreclosure process.

As a borrower becomes increasingly behind in his mortgage, the lender regularly calls and writes the borrower with default warnings and threats. After a certain period, the lender will then formally begin foreclosure proceedings. From that time through public auction is called ‘preforeclosure’.

Foreclosure is completed when the property is put up for auction. If the property is not purchased at auction, ownership reverts to the original lender. The property then receives the designation of being an ‘REO’ or the more formal name, ‘Real Estate Owned’.

Typically, lenders list their REO properties with local real estate agents in hopes of selling the property to a retail buyer who will pay full price. However, REO properties are now frequently sold for far less than their ‘book value’. The trade-off is that the buyer must purchase multiple REO properties in each transaction.

The REO investment packages available today have provided a way to profitably capitalize on the U.S. recession. REO packages are easiest to buy and sell with a well regarded source of financing in place. Some sources of funding for these transactions are: personal funds, hard money lenders, commercial lenders and non-conventional sources such as private investors and hedge funds. One excellent source of funding for Bulk REO Investment transactions can be found here: Bulk REO Investment Training.

The home is an investment that will probably be the biggest a person makes their whole lives. Most people buy homes to live for the rest of their lives.But there will be times when you must sell.It could be because you have to move because of a job.  Maybe you have to buy a bigger house.There can be a lot of reasons.But with the way today’s economy is, should that happen, you won’t get nearly as much as you would like. 

So lets learn a key secret to making the value of your home go up.  In this economy when money is tight, people don’t have a lot of money to make improvements.  But when it is time to sell they have to do something.  So one way to raise the value of your home is in your flooring.  I have seen many people get a lot of more money in my tile San Diego flooring business just by upgrading.

It makes sense that your flooring can have a huge impact.  After all it is all over your house.Your floors will literally make a room better or worse.  Now when you are trying to raise the value of your homes, you don’t want to go cheap and just buy some carpet cleaning supplies and try to make your carpet look new.No, if you need to make your homes value rise, you will have to do an upgrade.

You aren’t going to need to spend an arm and a leg.With some smart decisions, you can actually make your flooring look very expensive for minimal costs.A good flooring and carpet company should have some good suggestions.  We do that all day long in my carpet San Diego business and it helps all the time.

So if making your home more valuable is something your are in need of, look at this option. When you change your floors, it can bring back huge returns on the money you spend.

Foreclosure is a big problem in the real estate market nowadays with lots of people losing their jobs. A short sale can help a homeowner in foreclosure. When a homeowner has no way of paying his or her mortgage payments, a real estate short sale may be a good solution for the homeowner. You do not have to be late on your house payments to start the short sale process. Learn about what is a short sale and consult a Realtor early about the possibility of doing a short sale when you think that you might not be able to keep up with house payments in the near future.

Understanding What a Short Sale is

A short sale is a real estate sale in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a mortgage balance because of an economic or financial hardship on the part of the mortgagor. This negotiation is usually done through the bank’s loss mitigation department.

Stopping Foreclosure

A short sale is frequently done to stop foreclosure. A bank often will allow a short sale if they believe that it will result in less financial loss than foreclosing as there are carrying costs associated with a foreclosure. A short sale is typically faster and less expensive than a foreclosure. In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount. The process does not extinguish the remaining loan balance unless settlement is clearly indicated on the acceptance of offer.

Learning about Short Sale

There are many books on the subject of short sale. Some books are aimed at homeowners in foreclosure. These books explain to them what a short sale is and how it can help them save their properties from foreclosure. There are also books aimed at real estate investors trying to take advantage of the foreclosure market. Foreclosed homes are often cheap so new home buyers and new real estate investors can buy them fairly easily. Examples of books on short sale are The Art of the Short Sale, Short sales: An Ethical Approach, Doctor Foreclosure: The Secret to a Successful Short Sale, and Short Sale: A Practical Approach.