loan: Mortgage Market Meltdown - What it Means to You - 08/14/07 11:19 PM
I have given this seminar to several of my realtor's offices and I would be happy to do the same in yours.
The credit markets are in crisis, and the mortgage landscape is changing fast.
But, ask yourself this…
Do you understand the key factors that led to the crisis?
Can you … (2 comments)
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loan: Q&A: Stephen, I hear on the financial news, almost everyday, that the mortgage industry is in big trouble. They say it’s a “liquidity” problem. What does that mean? Are people soon not going to be able to get mortgages? - 08/12/07 11:52 PM
Few mortgages are actually held by the bank or the company that funds them. Over the past ten to fifteen years, investors on Wall Street have increased their appetite for higher yield products. With this appetite grew a desire for riskier loans that companies package and sell in pools known … (1 comments)
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loan: Dealing With Tenants in Your Investment Properties - 07/16/07 11:34 AM
Working with existing tenants:
When you acquire a residential rental property, you should contact your new tenants and reassure
them that you intend to treat them with respect. In other words, try to have a cordial, yet
businesslike relationship. Deal with tenants' questions honestly and directly. Failing to do so can
result in a loss … (2 comments)
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loan: Forming Your Offer to Purchase Investment Real Estate - 07/14/07 10:34 PM
You make money in real estate by purchasing the property “right”. In other words, if you buywell-located and physically sound property below market value, the property will provide youwith excellent returns for many years. Excellent knowledge, combined with excellentnegotiating, leads to excellent returns.
Lowballing:This is one strategy that I don’t recommend. Making … (2 comments)
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loan: Determine Your Real Estate Investing Strategy - 07/12/07 01:10 PM
Determine Your Investing Strategy:
Before you start investing, you need to come up with your goals, gameplan, and strategy. The
goal is most likely to create wealth. The gameplan is either to buy and sell, or buy and hold. The
strategy is the part that's open for discussion.
Buy and Sell
You have two ways to … (1 comments)
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loan: Putting Together Your Real Estate Investing Team - 07/10/07 08:43 AM
It is impossible to buy real estate by yourself. You need several qualified professionals. I suggestestablishing these relationships ahead of time, to help facilitate the transaction:
1) Tax Advisor – A good Tax Advisor is worth their weight in gold. My experience is that agood Tax Advisor can provide excellent feedback on … (4 comments)
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loan: Getting Prepared to Invest in Real Estate - 07/09/07 07:08 AM
Buy your primary residence first:
This is more than "walk before you run" advice. A primary residence gives you all the benefits
of an investor property, but it can be purchased easier and with better loan terms. You still get
the great tax advantage of deducting the mortgage interest, but when you sell a … (3 comments)
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loan: 95% FHA Cash-out Loans for Borrowers with Less Than Perfect Credit - 07/07/07 01:00 PM
We are now offering 95% FHA Cash-out loans for borrowers with less than perfect credit. These loans have been updated with new higher loan limits up to $544,000 depending on the county; however, most metropolitan counties have a limit between $200,000 and $300,000.
It is no secret that over the last 4 months … (2 comments)
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loan: No Doc Commercial Loans Now Available - 07/06/07 11:26 PM
We are pleased to announce that we are now offering No Doc Commercial Loans. Now without the red tape and high cost of a commercial bank, those interested in obtaining a mortgage for light commercial property can get a great deal on a variety of commercial loans at great rates and … (1 comments)
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loan: Loan Q & A: Will I build equity faster by going with an Interest Only program? - 07/05/07 02:06 PM
Stephen,My wife and I are planning on buying a new home and are trying to decide on financing options. The house is $250,000 and we want to borrow $200,000 and were originally interested in a 5/1 ARM. I spoke to one loan officer who suggested that I would build equity faster … (2 comments)
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loan: Loan Q & A: How do mortgages on rental houses differ from a mortgage for your primary residence? - 07/04/07 10:54 PM
Stephen, My husband and I want to buy some rental houses as investments. How do mortgages on these properties differ from the mortgages available for primary residences? Judy L. in Dunwoody, GA writes: Judy, more and more of my past customers are investing in rental houses. With rates still very … (1 comments)
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loan: Loan Q & A: Is there a problem qualifying since I now receive a 1099 instead of a W-2? - 07/03/07 02:23 PM
Stephen, I just put a house under contract and I have some questions about qualifying for a mortgage. For the past 10 years I worked for a large software company as a programmer. Three months ago I left the company to become a consultant. I am actually doing work for my … (0 comments)
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loan: Loan Q & A: I want to sell my home myself (FSBO), but I am worried about the safety of my house and my family - 07/02/07 01:12 PM
Stan G. in Alexandria, VA asks:The real estate market I live in is still hot. I want to sell my home myself (FSBO), but I am worried about the safety of my house and my family. Any suggestions?Stan, This is a real concern and should be discussed with your family before … (4 comments)
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loan: Loan Q & A: I am thinking of possibly refinancing out of my 5 year adjustable, but I am concerned about my payment going up drastically. What do you suggest? - 06/29/07 10:27 PM
Brian D in New Haven, CT writes: Stephen, I have noticed that rates have come down a little this month and I am thinking of possibly refinancing out of my 5 year adjustable. I was able to get a rate of 4.500% in June 2002 and I concerned about my payment … (2 comments)
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loan: Loan Q & A: I have a chance to purchase my office building. How do I go about getting commercial financing, is it just like residential? - 06/29/07 12:13 AM
Phillip D. in Atlanta, GA writes:Stephen, I am a CPA and have been renting my office space for 8 years. I now have a chance to purchase the building for $1.4 million. There are 3 other long-standing tenants. After careful financial analysis, I know I would be better off purchasing than … (0 comments)
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loan: What is the Status of 100% Investor Financing? - 06/28/07 12:40 AM
I have been getting this question twice a day for the last 3 months, so I thought I would answer it here. Back in the good 'ole days, before March, we had basically 4 sources of 100% investor money: Lehman Brothers, Bear Stearns, and to a smaller extent, the Winter Group, … (4 comments)
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loan: Loan Q & A: My son just graduated from UGA and wants to buy his first house, but his credit is less than perfect. - 06/25/07 11:10 PM
Stephen, My son just graduated from UGA and wants to buy his first house. The problem is that I just became aware he has credit cards in his name and, until recently, has not been paying his bills on time. Since I've heard on the news about all the high-risk mortgage … (2 comments)
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