|
House Panel Ok?s Similar Bill Passed by Senate: Government Bailout Program
2008-04-24 04:37:00 Democrats (go figure) pushed a $15B bailout plan through today. The program will provide money to cities and counties in the form of grants and loans (suspect mostly grants). The intent is so the local governments hit hardest by the housing crisis can become the new “flipping houses” investor, maybe even become landlords. Democrats argue that ...
Finding Your Niche In Real Estate
2008-04-21 13:00:00 People invest in real estate for a myriad of different reasons. Some people have a very clear plan for what they want to accomplish, while others jump in on a whim. It can be very seductive to see the amount of wealth that can be created in real estate. With so many different avenues available to a new investor, which one is right for you? Do you start by being a bird dog or wholesaler? Many people choose this road because they do not have the access to capital that is required to follow other paths. Do you try your hand at being a landlord? This can be a fantastic way to amass wealth over the long-term but it can be a source of frustration as well. Perhaps you are looking to flip-and-grow-rich. There are a plethora of great deals to be had. The obvious challenge is being able to flip them to a willing buyer at a decent profit. My Chosen Route My path was to follow the rehab road. I was led in that direction by circumstance, not by an overwhelming desire to find my fortune in rea...
Brave New (Real Estate) World
2008-04-14 13:00:00 When we the real estate market return to normal? When will things go back up? When will I be able to get $0 down loans again? How long will it be before I am able to get a loan I can?t afford? When will I be able to go back to flipping my way to outrageous fortune? The short answer: never! With any luck those days will never come back. Things had been so crazy in the world of real estate investing for so long. People came to accept that insanity as the norm. There were so many novice investors in the market who thought that the mania we were experiencing was the way it was supposed to be. Many of us who had been around awhile, and should have known better, got caught up in the hysteria as well. As with any overheated investment market, when the bubble of speculation burst many people were left holding the bag. A large number of those who lost money will never again invest in real estate. They will blame the real estate market just as those who invest in the stock or commodities mark...
Senate Passes Housing Bill 84-12: Real Estate Investors Get Tax Credits
2008-04-10 20:11:00 The Senate passed a package of tax breaks and funds for foreclosure counseling today, just one day after the White House took separate action to expand a federal program to allow more homeowners to refinance mortgages. Even though the White House is not happy with the bill, it is not expected to be vetoed. The package ...
So You Want To Be A Real Estate Wholesaler?
2008-04-07 13:00:00 Whenever I attend my local real estate investment club meeting someone using the same pick-up line inevitably approaches me: “I?m going into wholesaling, can I call you when I have a deal?” Most of these people are never seen or heard from again. It seems that most of them attended some guru?s curse on how to make big bucks in real estate even if you have no money. They fall prey to the notion that it?s really easy, just find a deal and flip it to an investor. How hard could it be? The gurus have these people thinking that there is nothing to it. The reality is that finding deals to wholesale is no easy task. Most of these novices are unprepared to do the work involved. If they do find a deal they have only done half of the work. The other half is having an investor to sell the contract to. Is It A Deal? Many of these wanna-be wholesalers have no clue as to what a good deal is. I can?t even begin to count the number of times I?ve been called with a “hot” de...
Why Chain of Title is important to your investment property purchase
2008-03-20 18:31:00 Banks require a preliminary title report on all real estate transactions. The preliminary title report serves many functions, but one that could cause you to loose a great deal on your next investment is the Chain of Title. Most lenders require a title company to give them a 24 month chain of title. This simply is an overview of all individuals or entities that have owned the property in the last 24 months. Investors should pay careful attention to the property they are buying and who has owned them previous to the sale. Some lenders and loan programs only allow one other individual to own the property in the last year. Banks look at the flipping of properties very closely. If a property is flipped too many times they may decline the loan. They could also ask their borrower or loan officer to provide documentation that the transaction is at arms length (the transaction is between unrelated parties). The reason Banks pay careful attention to the 24 month chain of title is f...
"Lucky" The Wanna-Be Tycoon
2008-03-17 12:00:00 This is the saga of “Lucky” the newbie investor. Lucky has big dreams of being an ultra successful real estate mogul. He is addicted to all of the flip-and-grow-rich TV shows, he just can?t get enough. He sits in front of the TV night after night watching property escalator, real estate jocks, flip this flophouse and various other fantasy shows. He gets so excited that he can?t sleep, so he stays up watching the late-night infomercials featuring the latest real estate gurus. His mind is racing a mile a minute. “This is so easy,” Lucky thinks to himself. He?s just trying to figure out how to get started. There has to be a really easy way to do this. The Morning Paper The next morning Lucky is sitting at the kitchen table having coffee and reading the daily newspaper. As he?s perusing the disappointing results from the racetrack pages, he sees a full-page ad on the page opposite the one he?s reading. The headline screams at him Do You Want To Be Rich? ? “...
You Found A Great Rehab Deal. Now, How Do You Fund It?
2008-03-10 12:00:00 You?ve been hunting for that perfect rehab deal like a Neanderthal stalking a mighty Mastodon. You?re sure you?ve found it. The after repair value and renovation costs will allow for a hefty profit. You should even be able to set a price that will result in a quick sale when the rehab is complete. There is only one teensy-weenie thing left to do ? find the money to make the purchase of the property. Back in the ancient, olden times (early 2007) it was fairly easy. You would seek out a hard-money rehab lender. Sure, the terms were steep, but the financing cost was built into the equation. As long as the numbers penciled out you could get funded. It was even pretty common to include the cost of purchase and repairs and have the interest financed right into the deal. If you did it right you didn?t need much, if any, of your own money. Things Ain?t What They Used To Be Here we are a short time later and the easy money is gone. Rehab loans can still be had, but things sure are different...
Big Bank Owned Property Auction in South Florida
2008-03-02 04:05:00 In case you haven’t already heard about it, Kennedy Wilson is having a huge auction of bank-owned properties (REO). You can find more information about the properties at www.flapropertyauction.com.-0; There are around 100 properties throughout Miami-Dade, Broward and Palm Beach counties, many appear to be in reasonable shape, though some definitely require some work. Prices on ...
Pay bills when Flipping Houses in San Antonio
2008-02-27 00:00:00 If youre going to buy and flip houses in San Antonio, be sure to pay your contractors and appraisers. The star of Flip This House, Armando Montelongo, is accused of not paying his appraisal bills for the properties he bought to rehab. Heres the story from the local newspaper site: MySanAntonio.com
A Mothers Nature: A Force to Reckon With When It Comes to Mold and the Home
2008-02-16 02:00:00 A few years ago, I bought a house that had been infested with black mold but it had been cleaned up by a professional remediation company months before I had bought it. The house had an ARV over $300,000 and I got it for $160,000. Most of the walls did not have drywall and it was ...
Rehabbing A Rental Property
2008-02-11 20:00:00 Last week we discussed rehabbing a home for personal use (Getting Started in Rehab ), this week we will explore rehabbing for the purpose of renting. Of the three main types of rehab, personal use, renting and flip, the rental falls in the middle in terms of risk. If the rental market is strong where ...
Getting Started In Rehab Real Estate
2008-02-05 12:00:00 You want to rehab houses, but where do you start? We see the fix-and-flip “reality” shows that, somehow, manage to have no basis in reality. How hard can it be to buy a house, rehab it, sell it, and retire to a life of luxury on the French Riviera? On TV, it all happens in ...
Lipstick on a Pig
2008-01-22 12:00:00 Who hasn?t had the rehabber?s fantasy? Let?s buy that run-down house, fix it up and make a fortune! The problem is that most new investors venture into this arena unarmed. There is the usual problem of paying too much or grossly underestimating the time or money that is needed, but there is another problem as ...
The Rehabber?s Eye
2008-01-08 12:00:00 Who hasn?t dreamed of buying a run-down house and fixing it up? For most it remains a fantasy as very few people actually pursue the idea. Of the few people who do make the attempt many fail miserably. Finding a house that needs to be rehabbed is easy; finding one that will allow you to ...
Fixer Upper Rehab Property in Tempe, AZ- Deal Results
2007-12-18 20:37:00 I got a call from a competitor friend of mine about a deal he just landed. It's always tough to work a deal from a competitor, but at the end of the day, it doesn't matter where it comes from. All that matters are if the numbers work, and they certainly did in this deal. So I jumped on it.
By: REI Pipeline.com
That First Rehab
2007-12-11 12:00:00 What a rush, closing on that first rehab deal! Now it?s time to start making every mistake in the book, at least that?s how it was for me. On the surface it looked like a great deal. I had purchased a bank REO for about 60% of the market value after repairs. I had construction ...
Rehab Tips - Kitchen Remodel
2007-12-08 16:27:00 How would I flip this kitchen? Easy. The first thing Rob needs to do is go visit all the new home builders in the area. Looking at houses in the $500-550k price range should do it- with all the incentives builders are offering, it brings the purchase price down to the mid $400's.
By: REI Pipeline.com
Great time for Flipping Houses in Arizona!
2007-12-04 17:57:00 What a wonderful market to be flipping houses! Now, if you're a newbie to the market, you have to make sure to stay on top of your numbers. Plan on fixing up the property to be the nicest in the area, for the cheapest price. Which means, plan on listing it BELOW MARKET VALUE to have a chance at selling. It can be done, I'm doing it, as well as many of my clients.
By: REI Pipeline.com
A Sobering Article About Flipping Houses As a Business
2007-11-28 20:35:00 I’ve been very curious about getting into real estate investing. Normally, I would sit here and tell you that you should buy real estate and hold onto it for years upon years. But, what’s the fun in that? Being a landlord can be very annoying. I know people that have a ...
By: Money Crashers
Using a Hard Money Lender (Part 1)
2007-11-19 21:45:00 The going interest rate for Hard Money in Arizona is 18% APR. Now, pick your jaw up and keep reading further- you'll see the benefits soon, I promise. Yes, it's insanely high compared to a traditional loan. However, most Hard Money Lenders charge a nominal processing fee. All the lenders I've used here in AZ charge $500-600 flat fee, that's it. There's no points, processing or other junk fees added in. We'll look at this a little more in depth later on when we compare ROIs on a deal.
By: REI Pipeline.com
Flipping Houses: Can A Real Estate Investor To Make Money?
2007-11-17 00:00:00 Most likely the last thing on a real estate investor’s mind these days is flipping a house. The housing market is soft and inventory homes are at a national high. MSNBC recently reported that if all homebuilding were to stop in the U.S., it would take more than 10 months for the nation’s inventory homes ...
Realestate Investing Tips and Tricks!
2007-09-12 08:51:00 Investing in realestate can be a rewarding and profitable experience. But, before diving in it's imperative to have a solid understanding of the process involved. After all, realestate investing does require money. You'll want to learn everything you can about the pros and cons of playing the realestate game before shelling out your hard earned cash. Basically, there are two ways to make money in realestate investments. First, you can acquire appreciation on property you buy directly. Second, you can invest in realestate financial instruments such as shares of real estate investment trusts (REIT) or stocks of housing developers.
Five Things I?ve Learned About Flipping Houses in Woodstock, GA
2007-08-21 16:26:00 1. “It’s not as easy as it looks” – If it were as simple as those 30 minute make-over shows say it is, 10 out of 10 people would be doing it. 2. “Don’t quit your day job” – After months of research, there isn’t a pool of no money down properties to be had as ...
Flipping Houses = Mortgage Fraud?
2007-08-07 02:06:00 While enjoying a bite for lunch today I was perusing the Flipping Homes community discussion forum for a bite of real estate investing banter, when I stumbled across a quick post from “FosterCA” referencing a Realty Times news piece today entitled, “Illegal Flipping in Beverly Hills?” (thanks, FosterCA!) Hmmmmm, interesting. Laying my chicken wrap and Mr. Pibb aside, I dug a little deeper. A glimpse at the seedy underbelly of real estate investing… Apparently a couple of “highly successful” Beverly Hills real estate agents and two licensed appraisers allegedly schemed to purchase houses at market value while asking the sellers to keep hush-hush about the actual purchase price. Then they’d inflate the purchase contracts to make it look like they paid hundreds of thousands (or even millions) of dollars more than they actually did… By inflating the purchase prices and showing fake appraisals to justify them, they could of course borrow a heck of a lot mor...
Care of HousingDoom, here's "Flipping Houses for Dummies" updated
2007-07-10 01:46:00 Nice work twist
By: Housing PANIC
Heads or Tails: Is Flipping Houses Right for You? (Part 3 of 3)
2007-07-06 18:18:00 In the previous posts, we have discussed how you need to do your research before getting into flipping houses. This part will continue to emphasize that fact, but also get into how you can get started and if it is really right for you.At the point you are ready for a purchase, you should have worked hard to find the perfect property and so it is time to get down to business. One of the biggest mistakes that flippers tend to make is buying and renovating to their own personal needs or tastes. As with any other investment, you need to keep your "emotions" out of it.By that, I mean that whatever you think is needed is not what everyone else thinks. You need to prepare the home for resale in a fashion that will be attractive to as many people as possible, and more than likely, they do not have the same tastes as you.There are some specific ways you can prepare your home for resale. Start off with defining your target buyer and what they would expe...
Flip This House; How To Become A Successful House Flipper
2007-07-04 07:54:00 So you want to be a flipper? Yep, that is what you may be called if you flip real estate properties. But the real question is, how do you become a successful flipper? Now, I don’t want to discourage you and I don’t want you to give up, I’ve flipped houses successfully and I am currently ...
Heads or Tails: Is Flipping Houses Right for You? (Part 2 of 3)
2007-07-03 21:48:00 OK, you decided you want to start flipping houses as a side career, or at least for fun. Well, if you are interested, and you must be since you are reading this, there are a lot of things you need to take into consideration.Start by getting to know the neighborhood you are considering. You need to research several things about the area, starting with price ranges of the homes. Another consideration is how long the is the average a home stays on the market. It also helps to know how the local market is like.If you are buying a fixer-upper, then make a list of everything that will need to be renovated or repaired and get estimates of the costs before you purchase the property. Estimate on the high side since it is better to end up with more profits instead of a loss during the process.Plan a budget, again erring on the high side. Don't just factor in the known costs like the renovations, but also the cost to "carry the house". Th...
Heads or Tails: Is Flipping Houses Right for You? (Part 1 of 3)
2007-06-29 03:59:00 You probably have seen the infomercials on late night TV claiming you can get rich quick with real estate. You know the ones, claiming to talk sellers out of homes for next to nothing, buying with no money down and getting someone else to pay your closing costs. While some of these methods may be the real deal, but most are simply scams.The lines between real deals and scams get grayed by the recent shows airing: TLC's Property Ladder, A&E's Flip this House and Discovery Channel's Flip that House. In fact, Interesting Way to Forecast the Destruction of a Market showed how the shows may have forecasted the demise of the real estate market. While the shows are not trying to sell you anything and typically show the good and bad sides, they air during the day, giving the shows instant credibility.House flipping is not something that can be entered into without exhaustive planning and research. While it can provide great returns q...
Flipping Houses in Las Vegas Nevada
2007-04-17 17:41:00 Are any eJabs readers in to flipping houses? This is something I would love to get into, and have been considering it for some time now. When considering an opportunity like this, one of the most important elements is to choose a good market. What about Vegas? Currently, the real estate market doesn’t get much ...
Realty Times-Flipping Houses in a Down Market
2007-04-14 00:00:00 My team and I flip houses in Michigan, where the housing market is currently experiencing a significant slump. Wherever these dips in the market occur, they often discourage investors, particularly novice investors, from flipping, but you don't need to get discouraged. With the right adjustments, you can flip houses profitably in a depressed market. I suggest three strategies for successfully flipping houses in a down market: Focus on foreclosures. Look for deeper discounts. Buy and hold. Read... To read the entire article, click on the title link above. Thank you for reading my post.
Another Case of Flip this House Syndrome | A Little Help Flipping Houses
2007-03-23 04:04:00 I realize that the title of this post is a bit cryptic, but it will soon make sense to you. We’ve all heard of the shows: Flip this House, Flip that House, Property Ladder, and I’m sure there are even more of ‘em out there. These shows romanticize the act of rehabbing properties and selling them for profit. I haven’t seen one episode of any of them where someone really screws up and misses their timeline or budget. Flipping houses is easy! Just get a contractor - rip some walls out - put in new floors - paint the walls - do some cheap landscaping - and BAM! You’ve made tens, if not hundreds of thousands of dollars in only 14 days! The reality of this reality is that it is not that easy, especially for a beginner. People understimate budgets, contractors dawdle, weather comes in, wood has termites, and one of a huge list of problems inevitably occurs. Think its easy, learn from Minna: A Case of Flip This House Syndrome I must have been smoking som...
Tax consequences of flipping houses
2007-03-19 21:46:00 Here is a multiple choice test to see if you are up on the tax consequences of flipping houses. I’ll give you a hint. Most people get this one wrong. If you do get it wrong, I’ll post a link to a great article I found that will help you. You bought a house January 1 ...
Fixing And Flipping Houses For High Return On Investment Capital
2007-03-14 06:00:00 Fixing And Flipping Houses For High Return On Investment Capital for the Investment Information on klickbuy.com
Fixing And Flipping Houses For High Return On Investment Capital
0000-00-00 00:00:00 Many real estate investors make $5,000 to $10,000 or more by flipping houses. These investors buy a home from a distressed seller and resell it quickly for a profit. Just because a seller has serious problems like a pending foreclosure or divorce doesn’t mean the house is a fixer. Many distressed sellers offer prime houses ...
By: Trading Studio
|
|
 |
|
 |
