Real Estate Tip

Home ownership is a dream come true for a lot of folks. We all want the security of owning our own home and now with the real estate industry on a downhill path and the lending market at a standstill, what is a recourse? The answer, lease options.

Lease options are a powerful way of getting your foot in the door, so to speak. Signing on the dotted line of a lease option contract gives you control of the property. Yes, you are still primarily renting but in a different aspect. You now have the right to purchase the home at… Continue reading

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Safe real estate investing rule: If you have cash flow you can hold on until prices rebound. It just isn’t that risky if you never made rising prices a part of you profit plan.

In fact, rents in some areas have continued to climb as the prices of real estate have fallen 20% and more. This makes sense if you think about it a bit. The banks are less inclined to lend money, and certainly not so easily as they did at the top of the bubble. Fewer people are able to get a mortgage, which means what? More people renting!… Continue reading

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There is a vast market of residential transactions that occur outside the MLS. These are beneath the radar and called “wholesale” because there is no realtor middleman involved. Foreclosures are part of it, but not the whole story. Consider this:

1. Owners of dilapidated second homes are being pressured by the economy to sell those properties. Many of them need cash. Typically, they don’t owe a lot on their old, run-down houses. These are often second homes.
2. Rehabbers and developers are looking for old, run-down second homes to fix up and sell or rent. Because of the credit crunch not many new

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Any new real estate investor will be tempted by the idea of flipping houses. This is a quick method with the prospect of large profits for anyone with the time to invest. However, real estate wholesaling is also a place where con artists can set up shop and start flipping houses illegally.

As a new real estate investor it’s very important to be aware of the methods used by con artists so you can protect yourself and your clients. Just about anyone can be scammed in real estate flipping too, leaving many to wonder, is flipping house illegal? It’s not, but… Continue reading

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Another potential problem to beware of when you flip properties for profit is the greedy buyer. You may have been flipping contracts for a while and making a pretty good profit. You’ve got a couple of regular buyers and have a good wholesaling lead coming in every couple of weeks. You may still be fairly new to the process but feel secure with your business. Then, along comes a fly in the ointment.

An experienced investor approaches you to invest in some of your wholesale flips. Being eager to make a new contact you provide this investor with information on a… Continue reading

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When a homeowner is fighting foreclosure there are several things that they attempt to do before seeking out a real estate investing professional. Typically when a homeowner is delinquent on their mortgage they in some cases, but not always, will seek out the help of a family member. In other words, try and borrow some money to attempt to reinstate their loan.

When that fails the next thing they do is reach out to a mortgage lender, and what they’re looking for is to maybe get the loan officer to assist them by refinancing their property and to end the foreclosure.

Well… Continue reading

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