Working effectively with Partners • This might initially scare you • Keep an open mind • It is not working with some stranger; you will become friends with them and it won’t be so scary Why work with partners? • Source of money • Source of knowledge and expertise • Diversify risk • Source of deal flow • Source of credit How to work with partners? • Can own property jointly in your names • Set up entity – management agreement sets forth rules Structuring deals • Simple cash loan […]
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Working Effectively With Partners
October 7, 2009 in General R.E., RESIDENTIAL R.E., Step 02: Build a Team, Step 07: Fund Your Deals
Low Down Payments
January 22, 2009 in RESIDENTIAL R.E., Step 07: Fund Your Deals
I normally do not like posting long articles but I’m going to make an exception. A seemingly insurmountable obstacle to buying property in today’s market is getting financing and a large part of getting financing today is down payment money. This article discusses how properties can still be purchased with low down payments. Through the Federal Housing Administration (FHA), qualified buyers can still secure loans with just 3-5% down. This should be very encouraging news to those of you that thought you would need to come up with 10-20% down […]
Time to Refinance
December 24, 2008 in RESIDENTIAL R.E., Step 07: Fund Your Deals
If you are a property owner you need to contact a bank, mortgage broker, lender, etc. and find out your ability to refinance your property. Mortgage rates have dropped significantly and you don’t want to miss out on lowering your monthly payment or converting to fixed rate financing. While financing has become more difficult over the past year it is not impossible and it is much easier to refinance a property than get new financing on a purchase. Amid Rate Drops, Mortgage Applications Soar With interest rates approaching reaching historic […]
Should I Refinance?
December 24, 2008 in RESIDENTIAL R.E., Step 07: Fund Your Deals
With the drop in interest rates many people are wondering if they should jump in and refinance their properties. There is a cost to refinancing and it is important to look at some numbers before refinancing to make sure you are better off with the new loan. There are four things you need to consider when refinancing- 1. How much your payment will decrease 2. How much it will cost to refinance (closing costs, points, etc.) 3. How long you plan on keeping the property 4. Are you refinancing to […]