Thursday, October 16, 2014


Real estate buying bank owned is an investment strategy used to purchase foreclosure real estate. Real estate investors, individual buyers, and business owners are seeking out discounted properties owned by mortgage lenders because listing prices are often well below market value.
Using the real estate buying bank owned strategy can result in savings of 30-percent or more. However, bank foreclosures often require repair work, so buyers must calculate the true cost of the property prior to submitting purchase offers.
Buyers are often forced to take out high-interest remodeling or construction loans when investing in distressed properties that require substantial repairs. Lender-related fees for rehabilitation loans can add up to several thousand dollars. Once renovation is completed, property owners typically must refinance into a permanent mortgage loan which incurs additional closing costs.
Due to the abundance of foreclosure properties, many home buying programs are sprouting up. Caution should be used when visiting websites offering foreclosure lists for a fee. There are numerous trustworthy sources that provide lists of foreclosure homes for sale at no cost.
One of the best sources is real estate agents. Many realtors specialize in selling bank foreclosures and can help buyers easily locate the type of property they desire. Realty websites, such as Zillow and RealtyTrac allow visitors to enter specific search criteria to locate bank owned foreclosures.
Another popular source for buying bank owned real estate is Fannie Mae's Home Path Mortgage program. Fannie Mae offers incentives and special financing options to individual buyers and real estate investors. Properties consist of foreclosure homes which have been repossessed through lenders with loans guaranteed by Fannie Mae.
Fannie Mae offers two home mortgage finance options which include HomePath Mortgage Financing and HomePath Renovation Mortgage Financing. The first is offered for homes which do not require repairs, while the second is used when properties require light renovation. When buyers obtain rehabilitation funds using Home Path financing they do not need to refinance when work is completed.
Individuals interested in buying Fannie Mae HomePath properties should consider researching HUDs Neighborhood Stabilization Program which offers government grants to rehab foreclosure real estate. NSP grants are available to qualified individuals and real estate investors who purchase properties in areas with high rates of foreclosure.
Also referred to as Section 203(k), NSP grants fall under the Community Reinvestment Act (CRA) of 1977. CRA allocates funds to each U.S. state. Recipients of NSP grants are allowed to obtain mortgage loans which include additional funds for required repairs. This can eliminate the need for obtaining remodeling loans, which eliminates the need to refinance mortgages and can save buyers a substantial sum of money.
Qualified individual buyers can obtain one NSP grant, while investors can qualify for up to five public grants. Combining government grants with Fannie Mae's special financing option and low down payment requirement can help buyers maximize their housing dollars.
Obtaining NSP grants can be a lengthy process, but savings can outweigh the time required to undergo the application process. Details of the Neighborhood Stabilization Program are provided at
Learn more real estate buying bank owned strategies from private investor, Simon Volkov. His website offers an exclusive home buying and real estate investing article library which provides information and resources to help visitors make informed choices. Discover how to profit with bank owned foreclosures by visiting

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Home Inpection  Kitchen Remodeling


Here are the basic steps of the real estate buying process:
1) Hire a Realtor: I'll just give three example reasons: First, my state requires a Property Condition Disclosure from the seller. Most buyers and sellers don't know this requirement; therefore, it would be easy for a seller to hide behind ignorance to avoid disclosing problems with the property. Second, it's not always easy to find a good home inspector-I've gone through 8 myself; a real estate agent should have this connection. Third, it's estimated that a real estate agent makes 200 phone calls during the closing process. Do you have time to make an extra 200 phone calls in a month?
2) Loan Approval: As a best practice, get approved for the loan first. Unless you have a very large bank account, then the buying process requires a lender. It's horribly frustrating to find the perfect house and not be able to qualify for the loan. In addition, getting approved at the beginning makes sense logically: if you get in touch with a lender first, they're able to give you advice about improving your credit score; within 4 months you could improve your score enough to get the loan. On the other hand, if you search for a home for 4 months, find the perfect home, and can't get the loan, then you've wasted 4 months.
3) Find a Home: This is actually the easiest step. Finding a home is an emotional process. It's best to look at a large amount of homes on the same day and weed down to your favorites. Then, go back and look at your favorites on another day. It's amazing how buyers' opinions will change based on mood, so it's best to visit your favorites a couple of times.
4) Paperwork: There are generic contracts available at Office Depot and similar stores. Any document that says you agree to buy and the seller agrees to sell for a certain amount on a certain date could be considered a contract. The difficulty arises in the details, especially inspections and closing costs. Once again, it's best to hire a real estate agent.
5) Inspections: Real Estate should always be inspected prior to buying, even new construction. A home inspection costs between $250 and $400 depending on the size of the home. Most home inspectors will do a 2 to 4 hour inspection of every visible part of the home, including attic and crawl space. Once you receive their report, you can use it to demand repairs from the seller. The inspection can save you $1,000's down the road or keep you from buying a problem house, and even if the inspection doesn't uncover anything, you'll have the peace of mind.
6) Repairs: Once you have the inspection report, you'll need to negotiate repairs with the seller. It's usually best to ask for more repairs than you actually expect; then you can negotiate down if needed. A good knowledge of construction is also useful because many sellers will try to convince you that your repairs are cosmetic or nit-picky; you need to be able to explain why their not.
7) Insurance: Home owners insurance is the most forgotten step in the real estate buying process. The lender will require it, so not having it can hold up closing. Of course, you don't want to wait until the last minute because shopping the policy can save you a great deal of money.
8) Closing: We must remember that closing on real estate is a complex legal and financial process. State and county taxes, home-owners insurance, title insurance, lender's fees, and attorney fees are all paid out of closing. First-time home buyers are usually shocked at the amount of closing costs, which are usually 2% to 3% of the purchase price. If neither party expects to pay $1,000's of extra dollars at closing, it's easy for a transaction to fall apart.
For examples of real-life closing costs from my hometown, click here: Closing Cost Examples.
Erik Pearson is a real estate agent serving Franklin, Brentwood, and Spring Hill, TN and is the author of multiple articles covering a variety of real estate topics. Search Spring Hill Homes.

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Landscaping Remodeling

Thursday, June 12, 2014

Tips For Buying and Selling Real Estate For Profit

Real estate investing is a great money-making venture. People can earn a lot of money from it whether they choose to sell or rent out a property. Sure real estate investing is not for the faint hearted and definitely not for the fearful. However, it is a great way to make a fortune and ultimately retire with a lot of money.
As a real estate investor for more than a decade, I had my fair share of ups and downs as well as triumphs and failures. Who hasn't? One thing is certain though, and that is, entering the real estate business is truly worth it and is something that I will never regret. Real estate investing is a lucrative career where you can earn a lot of money in various ways. Thus, here are some tips for buying and selling real estate so you too can make profits the same way that I have.
· Choose location over looks when buying a property. One common mistake of most investors is when they decide to forego a shabby property in a superb location in favor of one that looks good in a remote area. You can always make an ugly property look good while you can't do anything about a property in a bad location. Bear in mind that it's easier to market real estate in a prime neighborhood than one that's situated in an inconvenient location.
· Hold on to your property when the market is low. Instead of selling the house and lose money, just hold on to your property when houses are selling cheap. You can still earn continuous rental income from it and still have a tangible piece of property than you can sell at some point in the future.
· Offer more benefits to your real estate agent. When a property has been sitting in the market for too long, try increasing the sales commission of your agent instead of lowering the price of the property. You'll be surprised at how this can get your property sold quickly in the market. You can also offer your agent a free trip to the Bahamas if he sells one particular piece of property. Think creatively on how you can entice your agent to make a sale.
· Buy low and sell high. For you to be able to do this, you need to search for below-market investment opportunities. These may not always be out in the open so you really need to do your research with this one. Find motivated sellers or people who need to sell their houses badly in exchange for fast cash. A homeowner who needs to relocate to a different state is one motivated seller, as well as a homeowner who's having a divorce. Death in the family, job relocation, and a huge debt burden are some factors that bring about motivated sellers.
· Do house flipping. Buy a house, renovate it, and then sell it for profits. Many real estate investors are into house flipping as roughly $25,000 can be earned with one house flipping project. However, time is of the essence with this type of buying and selling in real estate. A property that is being fixed for too long no longer becomes profitable as well as one that isn't sold quickly once the renovations are done.
The art of buying and selling real estate may not be easy but hard work pays off once the profits come in. Use the above tips to help your career as a real estate investor and start earning money. Let the strategies I use help you make a fortune and truly become successful in the buying and selling of properties.
Jackie Lange has been a successful real estate investor for two decades and focuses on risk-free ways to make money. Learn how you can too... get the free mini-online video seminar, "Twelve Step Road to Riches" at

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Painting and Texture Remodeling   Roof and Siding

How to Buy and Sell Real Estate Notes - On Cash For Keys

How to Buy and Sell Real Estate Notes
I think this information will be of value to you, so read along and pay close attention.
Assuming there are no Junior Lien Holders...
In CA, I could find buyers willing to pay 75% of market value for an REO.
In CA, I could roughly buy non-performing notes aka real estate notes for 50% of market value.
So the act of taking a property to sale, and eliminating primarily the BK risk, is worth a full 25% of the homes value.
Always keep this in mind when you're buying and selling real estate notes!
How to Buyand Sell Real Estate Notes - Example
So, let me go through some numbers:
$100,000 homes market value
$150,000 1st mortgage (the real estate note)
$50,000 purchase price
How much money should I offer the Homeowner in a Cash for Keys offer?
Well, lets say we offered $15,000. What would the yield be on that investment, assuming the homeowner accepted, and we took 4 months from purchase of the non performing note to sale of REO?
The answer would be 45%.
You spent $50,000 to buy the real estate note, and another $15,000 to get the deed, and you sold the house for $75,000 in 1/3 of a year, so take the yield and multiply it roughly by 3 to get the annualized return.
How to Buy and Sell Real Estate Notes - A Time Saver
I should be justified paying up to 15% of the homes value, in order to transform my Deed of Trust into a Deed. The time savings is substantial, and the net impact on yield is significant.
So before you skimp on the Cash for Keys offer and think "No way borrower, you don't deserve a penny!"... run some numbers on the impact that having the Deed could afford you today!
Be your success & go out there and TAKE ACTION!
Interested in learning more about the Bank Note Business? Watch Hours of FREE Training Videos here: Buying Notes
Real-life, Up-to-Date Information for You. Visit or Call 718-783-7605 Or Click Here: Selling Notes []
From Dean Engle & - This time on How to Buy and Sell Real Estate Notes

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