The $700 Billion dollar financial bailout doesn’t exclusively and directly deal with real estate, but it is on most people’s minds so I thought I would include a note that at least comments on where the process goes now that the Bill got defeated. There are so many issues being addressed, many of which are quite complicated, so here is a simplified version of the likely possibilities that we’ll see in the next few days. Bank Rescue Plan Defeated: What’s Next? Lawmakers are expected to continue negotiations after the U.S. […]
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Short Sale Twist
September 19, 2008 in RESIDENTIAL R.E., Step 03: Do Strategic Planning
A large part of chasing short sales is educating the homeowners and serving as a type of consultant helping them understand the process. Many homeowners in default have never heard of a short sale and will rely on you to walk them through the process. Below is an interesting twist to the short sale process. This doesn’t mean all lenders are taking this approach but it is something you need to consider when dealing with homeowners and lenders. Find out if the homeowner is willing to do the deal even […]
Rent-to-Own
September 18, 2008 in RESIDENTIAL R.E., Step 07: Fund Your Deals
The credit markets are a mess, banks are failing, lending institutions are further tightening lending requirements and it is becoming quite difficult to get loans for investments. Sounds bad doesn’t it? Don’t let this get you down; even when the credit market is good investors should be looking for creative and alternate ways of funding investments. Even if you can get a bank loan for an investment doesn’t mean that is the best route to take. One such alternate and creative way of buying a home is on a rent-to-own […]
Where Do I Find Deals?
September 17, 2008 in RESIDENTIAL R.E., Step 04: Find Potential Deals
I get asked all the time “where do I find good dealsâ€?? My response is always the same, “anywhere and everywhereâ€?. I don’t say this flippantly either. I do believe investors need to be finding potential deals anywhere they possibly can and the more creative the better. It doesn’t hurt to dig around and ask questions and look into opportunities that might be a little off-the-beaten-path. One such opportunity is with unfinished homes. Many unfinished homes are sitting on the market because the builders have run out of money or […]