Tags |
|
|
Links |
|
|
Casual Articles - Where's the Money? Funding Your Real Estate Deals
If you are in the right areas, there are big profits to be made with modular homes. The downside? You may need a lot of cash for these deals.Modular homes are not just a step up from mobile homes. The new ones are usually built to higher standards than many regular stick-built houses. They have six-inch walls and lots of insulation. Once they are on a foundation, they often qualify for regular home financing, as opposed to mobiles, which you'll always pay a higher interest rate on.However, they are che
JT: If the
Selling Real Estate is an ART - not mathematical rocket science. There are no rules, no absolutes, no equations to determine an exact price in most cases, and no way to determine the time needed to sell the property, or where to find the buyer.There are however lots of tips and techniques that can be used, by someone who understands the business - to sell your property.Sure there are things we call RULES such as the maxim that value is determined by location - location - location.There are avera
Jordan Taylor: I recently heard from a new investor who was buying a property at below-market value and had a 5 percent down payment, but the bank said because it was an investment, the down payment needed to be 20 percent. What would you suggest that she do?
Russ Whitney: She needs to shop around for a different lender. She probably went to a branch of a mega-bank that has very strict rules and the people in the branches do not have the authority to operate outside those rules. Another lender may look at the deal far more favorably.
What's very important to always keep in mind is that when you take out a loan, the lender is not doing you a favor. The lender is going to make money on the deal through the interest on the loan and various other fees, such as points and closing costs. You're the customer, and you should be treated that way.
JT: If the
Charlotte North Carolina real estate is a thriving business. Charlotte is the largest city among the Carolinas and is growing at a very fast pace. Roughly 20,000 people relocate to Charlotte every year. The cost of living in Charlotte is below the national average. It has everything that both young and old might seek with access to very good schools, great residences and good employment opportunities. Residents of Charlotte enjoy living here. Charlotte was voted among the ten best cities to live in the United States
Jordan Taylor: I recently heard from a new investor who was buying a property at below-market value and had a 5 percent down payment, but the bank said because it was an investment, the down payment needed to be 20 percent. What would you suggest that she do?
Russ Whitney: She needs to shop around for a different lender. She probably went to a branch of a mega-bank that has very strict rules and the people in the branches do not have the authority to operate outside those rules. Another lender may look at the deal far more favorably.
What's very important to always keep in mind is that when you take out a loan, the lender is not doing you a favor. The lender is going to make money on the deal through the interest on the loan and various other fees, such as points and closing costs. You're the customer, and you should be treated that way.
JT: If the
Last year, when I was visiting my sister-in-law, I noticed at breakfast the kids were eating breakfast cereal that was packaged in a plain, no frills, plastic bag. It had a small label on it with a barcode announcing the price and name. She commented that the cereal was half the price of the brand-name cereals and just as good.Recently I visited her again and at breakfast the plastic-bag-cereal was replaced by a colorful breakfast cereal box, half the size and twice the price.“Why?” I asked.“The
Russ Whitney: She needs to shop around for a different lender. She probably went to a branch of a mega-bank that has very strict rules and the people in the branches do not have the authority to operate outside those rules. Another lender may look at the deal far more favorably.
What's very important to always keep in mind is that when you take out a loan, the lender is not doing you a favor. The lender is going to make money on the deal through the interest on the loan and various other fees, such as points and closing costs. You're the customer, and you should be treated that way.
JT: If the
Most gas companies offer two types of gas card – a gas credit card and a gas charge card. Credit cards are self explanatory, and charge cards require consumers to make a full payment for expenses incurred within the agreed date. Charge cards differ to credit cards, as they do not allow consumers to carry forward a balance at the end of each month.Gas cards with high annual fee benefit from higher credit limits, accident insurance cover, travel cover, and e
What's very important to always keep in mind is that when you take out a loan, the lender is not doing you a favor. The lender is going to make money on the deal through the interest on the loan and various other fees, such as points and closing costs. You're the customer, and you should be treated that way.
JT: If the
A recent amendment to the federal Fair Credit Reporting Act (FCRA) obligates the three nationwide consumer credit reporting companies - Equifax, Experian and Trans Union - to provide a free credit report to any consumer who requests it.The importance of a credit report cannot be ignored. An accurate report can help you obtain loans for major purchases, or even help you rent an apartment. All this, and more, becomes difficult if you have negative errors in your report.A negative report can prove to be a
JT: If the bank is going to make money on the deal, why do they turn down loans?
RW: Because they have to be sure they will make money on the deal. Banks make money on loans that are paid back on schedule, so they have rules and policies that are supposed to help assure that they make good loans. Unfortunately, sometimes strict rules don't allow a bank the flexibility to work with a creative real estate investor. But just because one bank turns you down doesn't mean you can't get the deal funded. That's why you need to look at other lending options.
JT: That's easy for you to say--your name is Russ Whitney and people are probably lining up to give you money. What's the best way for an ordinary person to do that?
RW: I recommend dealing with a good mortgage broker. Their job is to bring borrowers and lenders together, and they only get paid when the loan closes. They are a tremendous resource for real estate investors because they do all
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.casualarticles.com/article/140955/casualarticles-Wheres-the-Money-Funding-Your-Real-Estate-Deals.html">Where's the Money? Funding Your Real Estate Deals</a>
BB link (for phorums):
[url=http://www.casualarticles.com/article/140955/casualarticles-Wheres-the-Money-Funding-Your-Real-Estate-Deals.html]Where's the Money? Funding Your Real Estate Deals[/url]
Related Articles:
Business- How to Win New Clients
SEO - Search Engine Optimization Copywriting Considerations
Bookmark it:
|