investment: “Yes, I can get these Mortgages Accomplished for You”
- 10/07/19 04:22 AM
“Yes, I can get these Mortgages Accomplished for You”
Joe,
I read one of your blogs on financing income properties without having to use tax returns. There is a lot of income from the units, as they range from $1750 to $2350. The problem that I have been having is these units run between 330 and 400 square feet of living space. On the flip side the units will average $400,000 in value. One more issue, my tax returns don’t show enough income to qualify for the mortgages. My goal is to $250,000 mortgages on each property. Based on what I read, … (3 comments)
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investment: “How Many College Graduates do you know on this Kind of Mission?”
- 05/13/16 02:10 AM
“How Many College Graduates do you know on this Kind of Mission?”
I will help him accomplish his goal and I am delighted to assist him at this point in his real estate career. Very seldom do I run across individuals that get into real estate right out of college, especially when it comes to buying, renovating and reselling.
Hello Joe, I spoke with you today regarding my needs in getting a mortgage on an investment property, and you asked that I write out my situation as we discussed. The property is owned free and clear. It consists of two single family … (24 comments)
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investment: “Cash Out Refinance to Invest the Money in the Stock Market”
- 09/15/14 12:08 AM
“Cash Out Refinance to Invest the Money in the Stock Market” When I hear stories like this, it really gets my attention, especially if it affects a senior citizen. I met with this gal in her 70’s who came with her daughter. She was a referral from a financial planner. She told me she wanted to refinance as she had been paying her interest only mortgage for 10 years at 6% interest and wanted to start paying principal and interest at a lower rate. She told me she had refinanced 10 years earlier and was convinced to take equity … (31 comments)
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investment: Another US Companies Moving to Reduce Their US Tax Burden
- 08/27/14 10:52 PM
“Another US Companies Moving to Reduce Their US Tax Burden”
There is a lot of conversation these days about Burger King, buying Canadian food chain Tim Horton’s. On the surface it seems like a pretty simple transaction for expansion. Expansion has nothing to do with this deal.
America has the HIGHEST corporate tax rate in the world, currently 35%. The highest corporate tax rate in Canada is 15%, more than double. Both Democrats and Republican say they want to reform the tax code and even that they want to lower the corporate rates.
Here is the … (24 comments)
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investment: 2,000 a Square Foot boggles My Mind
- 06/17/14 11:06 PM
“$2,000 a Square Foot boggles My Mind”
There are a couple of markets I do mortgages, New York City area or Boston and a couple of others where sales prices for certain units can be around $2,000 per square foot. When I see a purchase agreement for a 1,000 square feet of living space selling for around $2,000,000 dollars, my mind starts doing strange things and that is what I was looking at.
I really get tested when someone tells me they are looking at the unit as an investment. As I listened to the thought process, everything that … (14 comments)
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investment: Remodeling Contractors are an Integral Part of My Mortgage Practice
- 12/27/12 03:22 AM
“Remodeling Contractors are an Integral Part of My Mortgage Practice”
I refer a number of contractors all the time, primarily for clients I do FHA 203K business. They become the difference between a transaction getting done.
Most prospective homeowners that may be interested in purchasing a property that needs renovation, really don’t understand what they are getting into. I see so many possible transactions fall apart because of the contractor. There are so many things that can go wrong.
I know when I refer a trusted contractor and the chances of the transaction getting completed, after the … (11 comments)
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investment: The More Home Buyers Know, the Better We Look!
- 10/29/12 10:04 PM
“The More Home Buyers Know, the Better We Look!”
I have been reading article after article about how poorly informed the consumer is. Sure there are some consumers that are not very knowledgeable about buying real estate or obtaining a mortgage, but certainly not the majority.
The majority of clients that are referred to me are much more knowledgeable, than folks that needed a mortgage a few years ago. I am delighted, as it will just make us look that much better.
I find that when I am contacted by someone after they have read one or many of my blogs, … (9 comments)
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investment: BUYING A HOME, A REALLY SMART INVESTMENT
- 08/19/12 10:17 PM
“Buying a Home, a Really Smart Investment”
Last year Brenda and Gerry bought a home in Coventry, Ct. The home needed work, so we did a 203k loan for them. The purchase price was $98,000 and there was $30,000 in renovations.
Gerry is being transferred by his company to NY State, so financially this was a move that was great for them. They put their home on the market at $169,900 and it went on deposit within 2 weeks. They will net about $20,000. Not a bad investment.
I referred them to a Realtor in NY and they are … (4 comments)
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investment: PRE-PAY YOUR MORTGAGE
- 08/06/12 11:10 PM
“Pre-pay Your Mortgage”
I am asked this questions all the time. Believe me, I understand that all of us want to have no mortgage payment, but today, at these interest rates, I would be hard pressed to want to prepay a mortgage.
When ask this questiong, I always ask the client, what do you think you can get for a return? If you take the dollars that you would use to pre-pay the mortgage, and put them into a retirement or investment account, what could you get for a return?
One other point to remember when you pay a mortgage, you … (4 comments)
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investment: MY RANT ABOUT COLLEGES IN OUR COUNTRY AND HOW MUCH IT COSTS
- 07/13/12 05:37 AM
“My Rant About Colleges in Our Country and How Much it Costs to Get a Degree in Something”
Is a College Education Important for Your Children or Grand Kids? What Kind of Education?
The cost of a college education today, is off the charts. Even though both of my children got college educations, it would not have mattered to me if they didn’t. I would be much more of an advocate of colleges in this country, if they taught our children to be entrepreneurs.
The majority of entrepreneurs in this country today are not from this country. Look … (6 comments)
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investment: TOO PAY OFF YOUR MORTGAGE EARLY OR NOT?
- 07/10/12 10:55 PM
"Too Pay Off Your Mortgage Early or Not?”
It is not the same answer for everyone. I carry on this conversation with every client. Here are some thoughts to decide if you should prepay your mortgage. Please know that these suggestion may be different if rates where higher than they are now.
If you had an additional $200 per month, here is the question you need to ask. Can I earn a higher rate of return, putting the money into an investment account that can earn more than the rate of interest that I am paying on my mortgage?
… (1 comments)
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investment: HOMEOWNERSHIP, STILL THE AMERICAN DREAM
- 03/28/12 03:46 AM
“Homeownership, Still the American Dream”
I did a preapproval this morning for a client, that has been in this country for 26 years. She told me, that she has one major goal since she got here. She wanted to own her own home! She also has a few other family member that have also moved here, she will be the first to own a home.
She will be looking at three homes later today. I love what I do for a living. To be part of her dream, there is nothing better. God Bless this great country of ours.
… (3 comments)
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“Yes, I can get these Mortgages Accomplished for You”
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