Broker
« Previous EntriesThe value of Collateral Security in Mortgage Bond Finance
Friday, June 5th, 2009In cases where the loan advance is to a woman, the husband is normally required to act as a guarantor and an unmarried woman will probably still require a male guarantor. But, again, this very much depends on prevailing circumstances and a professional woman or one who has a substantial income can usually get a [...]
Banks and Mortgage Finance (Lending criteria)
Wednesday, March 19th, 2008Lending criteria
Residential mortgage lending criteria accordingly concentrate on two areas:
1. The applicant
This investigation involves establishing whether the applicant can and will repay the loan. By examining the size of the applicant’s income compared to other expenses so as to ensure that the instalment is affordable. Ascertain that the income is reliable, based on the [...]
Using Standard Building Contracts part 3
Sunday, March 2nd, 20084.6 Extension of construction period
When a contractor submits a tender, the employer will usually stipulate a date by which the work should be completed; this is termed the practical completion date. This intended practical completion date is written into the contract document and it becomes a term of the agreement.
It will be noted that the [...]
Working with a Buyer’s Agent
Tuesday, February 12th, 2008Find a real estate agent with whom you are comfortable and work with him or her in an exclusive buyer agreement. That way your agent can work in your best interests. It is far better to have a single, dedicated person working for you than a poorly-motivated group, no matter how many are in it [...]
Financing Options
Monday, February 11th, 2008Once the property has been inspected, a contract price is agreed upon, and your attorney has given a green light to the project, it’s time for the next step. You need to come up with the money.
If you think you can buy property with no money down, it’s time to readjust your thinking. Realistically, you [...]
Why “Fizzbo” Fizzes
Monday, February 11th, 2008Often a property owner believes he or she will make more money by eliminating the services of a real-estate professional. That’s where all of those “For Sale by Owner” signs come from. In the industry they are referred to as FSBOs (pronounced “fizzbos”). This article recommends that you always work with the best professionals in [...]
A Residential Inspection
Sunday, February 10th, 2008Before you buy residential property, have it inspected by qualified people to find any defects and potential problems. But there are a number of things you, even without professional training, can do on your own.
You need to begin asking questions even before you get to the site of the property. For instance, find out the [...]
Get Permission for Credit Checks
Tuesday, January 22nd, 2008A credit rating or credit report is an objective evaluation of an individual’s history of debt repayment; credit reports are generally available from a local retail credit association. (Business histories are available from such sources as Dun & Bradstreet, Moody’s, Standard & Poor’s, and Fitch’s.) Credit reports are your only way to check whether a [...]
Thirty-two Techniques For Acquiring Real Estate When You Don’t Have Cash (29-32)
Wednesday, December 5th, 20071. THE PERFORMANCE SECOND
The performance second is used in various applications, including acquisitions with and without cash. It is a downright test of the seller’s faith in the value of his property.
With this approach you agree to pay the seller’s asking price but make the payments on the second purchase money mortgage contingent on the [...]
Thirty-two Techniques for Acquiring Real Estate When You Don’t Have Cash (13-16)
Monday, December 3rd, 20071. THE NOTE PARTNERSHIP
Several small notes signed by a number of individuals can be better security than one large note signed by one person. Ten $9,000 notes from different people, each having a net worth of $90,000, is sounder security than a’note from one person with a net worth equal to the face value of [...]
Thirty-two Techniques For Acquiring Real Estate When You Don’t Have Cash (4-8)
Sunday, December 2nd, 20071. REFINANCE YOUR HOME
The steady, unrelenting increase in single family home values is probably the major factor contributing to the broad acceptance of real estate as an investment. The equity in your home that grows each month by paying the loan and by market value appreciation is now widely recognized as equivalent to having money [...]
Thirty-two Techniques For Acquiring Real Estate When You Don’t Have Cash
Sunday, December 2nd, 2007Knowing the possibilities gives you the opportunity to speed up your acquisition plans. Actually applying your knowledge is up to you. If you make the effort to learn what others have done, you simply increase your chances by drawing on their knowledge. This is the purpose behind the following techniques: to give you the advantage [...]
Putting Real Estate in Perspective
Tuesday, November 27th, 2007Although investment real estate is owned by many people who have no formal business education, it is a truly serious business.
Jobs produced by housing construction and real estate-related manufacturing and retail sales form an essential component of our economy. The financial benefits of new home construction and the [...]
You Have to Know Somebody to Get Going in This Business, Invest Myth
Tuesday, November 27th, 2007While knowing a few key people such as a real estate agent, an attorney or a banker may save you some time, you don’t need to know anyone even remotely connected with investment real estate to get started. And you’ll find that the goals you set for yourself will [...]
How To Minimize Risk And Maximize Profit
Tuesday, November 27th, 2007There is really only one question that should govern the decision to acquire a particular real estate investment: What is the probability of earning a certain profit in a given time period?
All the details of analysis and market research work toward accurately answering this question. Of course, there are many [...]
Investment Property: Finding Your Diamond in the Rough
Sunday, November 25th, 2007Identifying investment property is like dating. You want to make sure you choose wisely because you will be committing time, energy, and money. You’ll be putting your heart into the effort and have big dreams of where things may lead—maybe a long-term commitment, maybe marriage. Dating just anyone, like [...]
You Have to Be a Seasoned Negotiator and Businessperson, Invest Myth
Sunday, November 25th, 2007Again, this is just not true. Experience in business may make that first walk into an investor’s office more comfortable, but that’s all it will do. Your true power and confidence won’t come from your past experience. Instead, it will come from the solid deal you assemble that is a win-win for [...]
Partners - A Good Thing or a Bad Idea
Saturday, November 24th, 2007At MC Companies my partner, Ross, and I have been together since almost day one. His skills and my skills dovetail perfectly. He handles the construction and development and I handle the management and operations. We both handle acquisitions and together we each bring to the deal our own [...]
You Can “Flip” Your Way to Success or Get Rich Quick with No Money Down, the Invest Myth
Saturday, November 24th, 2007Many people think that flipping property, in other words buying it and quickly turning around and selling it for more than you paid for it, is the way to grow wealth. The people who believe strongly in this have been lucky enough to make money this way. But in my opinion, [...]
Letter of Intent
Wednesday, November 21st, 2007Once you’ve established the valuation using the five steps of property evaluation you are ready to draft the letter of intent or a purchase and sale agreement. I prefer to use a standard letter of intent to map out the deal points between myself and the seller before moving to [...]
« Previous Entries
