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 or value". Normally you will hear this phrase in association with foreclosures, distress sales and bank held properties. You will hear people say, "Oh, you can pick that up at fifty cents on the dollar" or "seventy cents on the dollar". That simply means 50% of the original value or 70% of the original value.
Investing in real estate is simple to say and really simple to do but you better be working with a lender who knows what they are doing. I have rescued hundreds of people for very experienced loan officers who have done hundreds of home mortgages but only a few, if any, real estate investment loans. There is a HUGE difference between the qualifications and specification for a real estate investment loan and a primary residence. Even the way income and assets are calculated are different.
If you are interested in an investment property purchase or refinance in Georgia or Florida I can assure you nobody has more experience. Listen to this short interview with me on the John Adam's Radio Show.
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