Real Estate Help

This lens has gathered a ton of information I have written as well as a few short videos with the sole purpose of helping the beginning real estate investor as well as the person looking to purchase a house for themselves.

Articles for Real Estate

This is a list of various articles written for the beginning real estate investor as well as the person looking to purchase a home for their own use.

Carlton Sheet's No Money Down Program: I had watched the infomercials on TV for years, and was highly curious about this program. Keep in mind my credit sucks horrible, I mean it is barely a 500 score, but I was young, dumb and stupid at times and did not heed the warnings of my parents about paying bills on time. After all, I was 18 what did they know? Well too late for that now, but his program seemed really interesting to me.
Financial Tips for Those Looking to Buy a House: I would highly recommend looking at your credit and financial status about a year to two years before you want to buy a house. This is especially important if you have bad credit or credit that is need of some repair. Keep in mind that the better your credit score the less you will be paying in interest rates and points. This is very crucial as it can save you literally tens of thousands of dollars over the lifetime of your mortgage loan.
Property and Investment Real Estate: For this installment, we are going to get right down to the nitty gritty business of determining exactly what property is the best for investment purposes. As I am sure, you know there are several types of property. One type is vacant lots; these are pieces of property that have nothing but a few trees, some grass and probably a few insects on them. There are no buildings of anything else on them that can give the potential to generate a cash flow each month.
Real Estate: The Flexible Seller: We have covered a great many topics and now we are going to move along to how to find flexible sellers, what that means to you, and how you can use a flexible seller to your benefit. While some people are fortunate enough to have enough credit, or cash on hand to outright purchase property, most beginning investors need to find those who are willing to work out special financial deals of some sort in order to actually get started. Most people do not have credit that is strong enough to hold two mortgages, not without putting down a quite substantial down payment, enter now the flexible seller.
How to Succeed at Real Estate: The Business Aspects: When you are first starting out in a real estate business, you need as much support as possible. This support includes your repair staff, the attorney, and accountant you are using, and even the space in which you work. While this may seem like common sense, many people avoid and overlook the most basic support systems in favor of saving money.
Real Estate: Credit Options: Many people are able to become successful at real estate and never use their own credit. However, those people are rare. Most people will look at your credit at some point, if not for the mortgage them for a credit account at the local hardware and building supply store, a repair business, and various other uses. Your credit will speak volumes about your business, especially in a high dollar field like real estate.
Novice Real Estate Tips: Have you ever seen those people who drive big expensive cars, seem to have no worries in the world and envy them from the moment you first lay eyes on them? Do you wish you could live their life? What do you think when later you find out they are so successful due to real estate? I am going to help those average Joe's among us find the information and tips they need to become successful at working in the real estate field. No, I am not talking about going and studying for a Real Estate License, I am not even talking about doing handyman work. I am talking about plain and simple real estate investing.
How to Succeed at Real Estate: Making Serious Money: No matter how flexible the seller is, the property is useless to you if the value of it does not support what you are considering buying. For example, there is no point in paying $200,000 for a house in a neighborhood that has houses that sell in the average price range of $60,000-$70,000. The chances of making money in a deal like that where you are paying that much over the typical market value of a piece is very slim.
Interviewing Prospective Sellers in Real Estate: For this installment, we will learn how to interview prospective sellers to find the best sellers for your needs. Remember those sellers who are flexible are most likely to work out a mutually beneficial agreement in regards to either price, or terms of the sale. While some sellers are flexible in both regards to price and terms, others will only be flexible for one or the other.
Real Estate: Insider Tips and Suggestions: Anytime you are looking to make a profit from any business you need to know some of the inside tips and suggestions on how to market the fact that they are looking to invest without spending loads of money on a marketing strategy. Everyone has personal preferences in how they prefer to do business, however these suggestions are ones in which they are versatile and able to offer the most flexibility to be adapted to each investors preferences.
Real Estate: The Purchasing Power: We are going to start investigating everything that is possible to help the average person succeed in a real estate market. Please realize that this guide is not meant to replace the information that a legal attorney can give relating to the legal issues involved in real estate. Also realize that to really succeed in real estate it is a good idea to have a real estate agent or two that you are comfortable working with, who will call and let you know about properties as they become available that fit into your interest groups. Whether your interest group focuses around the number of bedrooms, location, or the style of the house, or even the asking price.
How to Succeed at Real Estate: Cash Flow Analysis: As you start gathering momentum in your real estate career, you will begin to notice a steady pattern of cash going in and out of your pocket. This is considered cash flow in the most simplest form. Cash flow analysis can be as simple or advanced as your needs determine. The investor who has dozens of property will likely have a much more advanced and complicated cash flow analysis than the investor who has their first piece of property.
How to Succeed at Real Estate Subleasing and Lease-Purchase: Our last installment covered various techniques and methods of financing the purchase of property. This installment is going to cover a lot of information pertaining to this option such as the benefits, how to use with a sublease, as well as some of the items that need to be included in the contract for a lease purchase.
Real Estate: Making an Offer: We have now covered various ways of getting the money to start investing, as well as explained in depth what needs to be included at a minimum in the lease purchase option contract. We are now going to move along to the making an offer for the piece of property of your choosing.
Real Estate: Purchasing Essential Contract Information: This installment is important to the real estate investor as well as the individual who is looking to purchase property for their own residence. Once again as in the lease option contract installment, this is only a guideline and should never replace the advice of a licensed attorney who is retained to represent your interests. Especially when dealing as expensive as a house and the financial implications that result in the purchase of something so expensive.
Real Estate Success: Closing Successfully: We have covered a lot of material in this series. From the way to find flexible sellers, what exactly, a flexible seller is, how to determine market value of a piece of property, even lease purchase options, and what should be included in a sales contract. This is a lot of information to be presented. Just keep calling sellers and taking notes. Maybe the time to purchase is not now, but keep learning and it will all pay off. You will find that dream piece of property that will teach you a lot. I also recommend watching a show on TLC called "Flip That House" this can also teach you some details about what kind of house can be repaired, as well as what type of budget you are looking at.
Real Estate: Closing Successfully and Making Money at the Same Time: From the previous articles, we have covered the whole buying process from beginning to end. We are now going to appeal to a more difficult task, how to purchase property, and walk away with money in your pocket. No, I am not referring to money you save, but money that is given to you at closing that you otherwise would not have. Some of the ways to get cash back are easier to arrange than others, however it is highly unlikely that each strategy will apply to each closing you participate in.
How to Succeed at Real Estate Distressed and Foreclosed Properties: Now that we are covering more advanced topics, we are moving along to distressed properties, as well as foreclosed properties. These are not something simple for the novice investor to manage, however these types of property will tend to increase the amount of profits in which you are able to realize. Remember as you continue reading these installments you still need to be reviewing the newspaper ads, calling sellers, taking notes and viewing the properties that interest you.
How to Succeed at Real Estate Property Management: For a successful real estate business that is involving rental property, you must make a decision as to whether you will manage the property yourself or hire a property management company to handle it for you. If you select a property management company you need to make sure it is financially acceptable, if you choose to do it yourself you need to make sure you have the time and energy to put into managing it.
How to Succeed at Real Estate Mobile Homes: Mobile homes represent a huge opportunity for the serious investor who is looking for large profits overall. The best way is to purchase the home outright, and offer it on the market either as a rental or as a lease/purchase option or even a complete sell, with owner financing. Mobile homes depreciate in value rather quickly, which means they are not worth as much as a brick and mortar type of house. However, most people who have bad credit, and simply cannot afford to qualify for a normal mortgage will happily purchase a mobile home under either of the two selling options.
Purchasing a House Made Easy: If you have reviewed my Installment Guide entitled "How to Succeed at Real Estate" which has been published here at AC then you have a good idea of what is involved. If you have purchased a house before you also have a good idea of what is involved. This is meant to help the beginner out, who is frantically looking for their dream house, that they can afford, and that makes their jaw drop when they see it.
How to Succeed at Real Estate Financing Options: In this installment, we are going to cover different financing options that are available. It is very important to note that not all methods will work for everyone, nor are these methods only limited to those doing investment. These methods are even possible to be used for those who are attempting to purchase a home for themselves. Make sure you carefully review all of these methods and determine which you think would work best, as well as being flexible in terms of which options may best benefit the seller. Remember to make a successful transaction, you need the buyer, and seller to both be happy and satisfied.
How to Succeed at Real Estate: Good Business: While it is a wonderful idea to get into the real estate business, it is important to stress the fact that you must make goals to help guide your business. Your goals need to be long term as well as short term. While you are making goals, you must make sure you are making plans to actually help you achieve your goals.
Rent vs. Buying a House: At some point, almost every adult in history has to make the of whether they want to purchase a home and become a homeowner, or if they would prefer to remain a renter. There are several advantages to both, so it becomes a personal decision that each person must make, either on their own, or with the input of their spouse/partner.
Important People in the Mortgage Loan Process: Working for the lender along are several very important people, however those alone are not the only people that will have a say on your loan, there are a few others that generally have an input as well. While their business is in approving loans and collecting interest, they are not likely to lend to someone who is either unwilling or unable to pay. Because of these reasons, that is why so many people are involved in the process to ensure that the property is worth what the lender is loaning on it. If the property is not worth the mortgage amount, the lender can be out serious money if the buyers default on the mortgage, which is very costly to the lender.
Negative Amortization Loan -Mortgage Lessons: A negative amortization loan (neg-am) loan implies that when you take the loan you do not amortize, meaning you do not automatically pay it down over a period of time. Instead, as the loan is being paid down the loan actually gets bigger and you will never pay it off. That is a strict interpretation of negative amortization, that the more you pay the more you owe. Nevertheless, a negative amortization does not mean that literally, it means that it is possible if you do not make the full monthly payments.
How to Purchase a House Before You Sell Your Current One: If you are in the process of selling your house, what do you do if the perfect house comes onto the market that is perfect? Do you sit and hope it is not sold before your house sells? Do you cash in all IRA's you have in an attempt to raise the down payment and closing cost money? You have a few options, however you must act smartly, or you could end up without the new house of your dreams.
Preapproved Vs. Prequalified - Mortgage Lessons: When you begin shopping for a house, condominium or any type of property there are two very important things that you need to learn. There is a very big difference between preapproved and prequalified. Their difference makes a huge difference in how soon you can move, and how quickly you can close on the house you wish to buy, as well as how serious your offer will be seen by the sellers.