real estate investing: No Seasoning Cash Out Refinancing for Real Estate Investors - 08/29/11 01:00 PM
We've waited for this one to come back ... now it's here. If you have investor clients or you are an investor who has paid cash for a property within the last six months this may be good news for you. Of course, as will all things, there are caveats and qualifications. Just a few of which are:
The new loan amount can be no more than the actual documented amount of the borrower’s initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points (subject to the maximum LTV/CLTV/HCLTV ratios for the transaction). The purchase … (2 comments)
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real estate investing: Fifty Cents On The Dollar ... What Does That Mean? - 02/23/09 06:25 PM
Stop giggling! I know 95% of the people who read this will say "everybody knows that" but they don't. I know because I get people who call in and ask what it means! I never treat them like they don't know anything because many of them are very brilliant people who just do not know what those words mean. So this is for those who really are not completely sure what those words mean and to help some of the rest of you be genteel when being asked.
Simply put it is a way of saying "percentage of the original price … (6 comments)
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real estate investing: Can an IRA borrow money to buy real estate? - 01/01/09 03:48 PM
Right now Fannie Mae still suffers tremendously in many ways from cranial-rectal inversion. Perhaps the worst result of this condition is the hamstringing of worthy real estate investors from having more than four properties on credit. But there are alternatives. Agents I can help you add sales to your month with this program and will help you market it. Call me directly at 866-946-0120 ext 101 nationwide.
One of the alternatives we at Novation have offered for many years is the IRA loan for real estate investors. This allows an investor with an IRA to tap the strength of their IRA … (8 comments)
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real estate investing: How can an IRA borrow money to buy investment homes? - 12/30/08 02:42 PM
The most important step is to make sure the IRA holder and no linear relatives benefit in any way from the disbursement of funds or proceeds of the loan. Once that little fact is handled it works fairly simply. The IRA custodian (no, Bank of America will not do this for you nor will Fidelity because they really don't offer true self-directed IRA accounts) will put your funds into an LLC created so that you have checkbook control. The IRA's LLC can then borrow up to about 70% of the purchase price and there needs to be 10% reserves left in … (3 comments)
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real estate investing: Bring on December and Let's Finish Strong! - 11/30/08 10:04 PM
Someone made the coment to me the other day that I should not expect much activity in the month of December. Are you kidding me? I'm in the real estate investment funding business and with our real estate investment loans, many of them exclusive to us and available in most states, we have consistently turned in a very strong December. In fact 4 out of the last 8 Decembers have been one of our top 3 months!
Maybe it's because we have the niche of product that caters to real estate investors like our IRA Loans and our Fannie Buster (that … (4 comments)
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real estate investing: How To Own Real Estate In Your Retirement Account - 09/29/08 11:38 AM
It was June 18th and Europe was at war. The French army had marched through the region and wrecked havoc on many cities. The year was 1815. Under the leadership of Napolean they army marched against the "aggressor nations" as they were attempting to mobilize for an assault on Paris. In a town called Waterloo they found a great surprise: the liberators may have appeared unprepared but they delivered the final blow to Napolean's army.
The British suffered huge losses in the battle.
A financial market panic caused a liquidity problem.
Baron von Rothschild saw an opportunity and uttered his now … (0 comments)
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real estate investing: Real Estate Investor's QuickStart Workshop - This is Powerful! - 07/23/08 08:30 PM
GOOD NEWS! For a decade I offered the "Real Estate Investor's QuickStart Workshop" which was attended by literally thousands of investors, prospective investors, new investors and seasoned investors. It is a 3 hour workshop designed to help the new investor understand the possibilities and options ahead of them and to give the seasoned investor the opportunity to confirm their activities and review the changes in the market. JULY 31, 2008 - 7:00PM Sharp!
2501 E Piedmont Road, Suite 111
Marietta, GA 30062
Only EIGHT Seats Available
Real Estate Investors QuickStart Workshop
Real Estate Investors QuickStart Workshop
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… (2 comments)
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real estate investing: Get Rich Quick: Flipping Pre-Foreclosures: Build Your Mega-Fortune Over Night! - 06/13/08 10:31 AM
Use my package as seen on TV and make millions overnight in this crazy real estate market! Come to my FREE FREE FREE seminar tonight in your town and start cashing checks tomorrow for tens of thousands of dollars! Download my FREE FREE FREE audio conference and learn how I started with NOTHING, I was flat broke and homeless - living in my car - and now I flip hundreds of homes every hour for millions in profit every day!
It's so simple even I did it and if I can do it YOU CAN TOO! Go from RAGS to RICHES … (8 comments)
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real estate investing: Occupancy Fraud, We're Watching You - 02/07/08 05:40 PM
It used to be the number one form of fraud: a buyer saying they intended to occupy a property when they never did.
If you don't know why an applicant would state they intend to occupy a property when they know they are purchasing it as an investment it has everything to do with being able to qualify for the loan. Lender guidelines for owner occupied properties are much less stringent than they are for non-owner occupied properties. Risk to the lender is much higher on investment properties therefore the gauntlet to approval for an investment loan is tougher than it is … (11 comments)
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real estate investing: What Is A "Non-Recourse" Loan And What Does It Have To Do With IRA's? - 02/06/08 11:07 AM
Non-recourse is defined by Merriam-Webster.com as "the right to demand payment from the maker or endorser of a negotiable instrument". Obviously you know what "non" means so if we replace "the" with "no" we get "no right to demand payment from the maker or endorser of a negotiable instrument". That pretty much sums up what a non-recourse loan is. The lender cannot demand the borrower to make them whole in the event of a foreclosure. The lender can take the home and any equity in it but cannot keep the equity if the property is sold at auction for more than … (2 comments)
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real estate investing: Buy My Investment Properties With My Money -- Seller is Lender: NO! - 01/09/08 02:06 PM
We see them all the time with these great lists of investment properties for sale. The prices appear to be good values and, hey - the seller will finance it for you. No credit check! All you need is a small down payment and the property is yours for 10% 12% or 14% interest. And here is a real money saver - you don't even need to pay for the closing costs because they are built in and THE APPRAISAL IS INCLUDED.
Sound exciting? Enticing? Itching to jump at it? Not so fast there Esmeralda.
First of all NEVER and I mean N-E-V-E-R … (12 comments)
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real estate investing: Non-Recourse Loans and IRA Investors - Excellent Tool - 01/07/08 11:54 AM
There is one tool I see missing from most investor's toolbox and most real estate agents don't know about these.
Real estate investors. We are the scourge of the planet--the geese that lay the golden eggs. Those who invest successfully and work with agents can be either your best client or "attention needed" child. Over the years I've had the pleasure of helping all types from the "I read a book so now I know more than you" to the "I've been an investor for 20 years and you've taught me more in six months than I've learned through the years".
What … (7 comments)
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real estate investing: The Truth About Instant Equity - 11/27/07 09:51 AM
It usually isn't. Instant or equity. Once upon a time in a village near you there was a great and wealthy king. The king would build many homes and the people loved the king so they would quickly buy his new homes and sell their old ones for more than they owed on them. All the while the evil sorcerer lurked around whispering bad news on the cable news networks about how the wealthy king and the generous money makers were taking advantage of the little people.
One day while the good king and the generous money makers were asleep on their … (3 comments)
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real estate investing: Title Seasoning - What Investors and Agents Must Know - 10/25/07 10:55 AM
Ever heard of flipping? There are two types: honest business people with integrity and morals who buy low and sell high and scumwad dirtballs who cheat, lie, steal, and spoil the system. Remember when you could take out a little pad of paper with some numbers on it, scratch out some words and a monetary value, sign it at the bottom and hand it to the person behind the counter and leave with your stuff without so much as showing a driver's license? Like the days of writing checks with no ID gone are the days of unseasoned sales without jumping … (0 comments)
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real estate investing: Self Directed IRA Investing Requires a Non-Recourse Loan - 10/17/07 03:12 PM
Non-Recourse loans are available nationwide through Novation Mortgage at 866-946-0120 ext 107
Let's start with the A-B-C's or rather the I-R-A's. No, the is not the Irish Republican Army. It's your Independent Retirement Account. More specifically your Self-Directed Independent Retirement Account. I first learned of this some years ago through a friend who is also now a client and who built part of my home. He owns multiple investment properties, all single family, and some of them free and clear but in his SDIRA. When he told me about this possibility my eyes must have spun. I'm fairly finance savvy so he … (1 comments)
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real estate investing: When LLC's and Investment Properties Do Not Mix - 10/05/07 03:09 PM
During the last few months, just as a news flash in case you have not heard, the mortgage world experienced some fairly major changes. The baby and the bathwater were tossed and even good credit, good income real estate investors with good assets lost a wonderful tool! Actually, two tools. One was the true conventional 100% investor purchase loan. You know, if a borrower has a 750 score, a DTI of 35% and $500k in their 401(k) I would loan them just about as much as they wanted to borrow to purchase an investment property - not these pansy little Wall … (1 comments)
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real estate investing: Short Sale Facts and How-To - 09/29/07 10:14 AM
Short Sale Facts and How-To When: Thursday, October 18, 2007, 7:30 PM 2007 Where: Innova Center 2501 E Piedmont Road Suite 207 Marietta , GA 30062 678-946-0101 Info/MapThis venue has been marked "private" by the Organizer. Description: THIS IS THE SAME WORKSHOP MANY HAVE PAID UP TO $199 TO ATTEND! Fee has been reduced to only $50 and *MUST* be paid at the time of reservation. See the note below about why there is a fee at all.
Short sales (pre-foreclosures or REO's) are an excellent way to acquire a home (or investment property) while doing good for the community. To … (1 comments)
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real estate investing: Anatomy of a Tax Lien Sale - 03/11/07 10:35 AM
Here is the question from an Active Rain reader, "It sounds like you know a lot about tax liens. Do you know if a person buys a tax lien on a house and if the owner no longer wants the house -- if the tax lien holder is left with having to deal with the foreclosure or if the tax lien holder can hold onto the tax lien until the bank pays them off..."
Since this is a very good question and very misunderstood I believe it should be answered in a public forum. Before we even begin to imply that … (3 comments)
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real estate investing: Fannie Mae Reminder: May Affect You? - 03/05/07 01:40 PM
For many years investment "gurus" have been teaching investors to "acquire properties" without a mortgage, without down payments and without needing to qualify. For many years I have been teaching that this method, while perhaps not a violation of law, is definitely a violation of the mortgage agreement which, by law, puts the mortgage in full default.
Most real estate agents are taught that this is called the "acceleration clause". The real name for this is the "Due on Sale Clause" and it's in virtually every mortgage agreement with the exception of some commercial loans.
I don't really want to get too deep … (1 comments)
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real estate investing: 1031's Again - 02/11/07 11:42 PM
I don't know why I had so many emails and questions during my seminars last week regarding 1031's. Regardless here is a short (very short) expose about IRS Code 1031 Tax Deferred Like Kind Exchanges.
If you've only heard the term and don't know what it is this will help. If you've never heard the term this will help you, too! It's a brief, very brief, introduction to using 1031 Tax Deferred "Like Kind" Exchanges to defer any capital gains taxes you may have otherwise faced with the sale of a piece of real estate.In the investment industry I answer this question … (3 comments)
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