| |
| |
|
Real Estate Information |
|
|
|
Real Estate Investing: How to Choose a Lender
To become a successful real estate investor it's vital to have a long-term relationship with a good lender. Having a flexible lender who knows your needs and objectives can be the difference between success and failure in your investment career. Choose several lenders to begin with, and then interview all of them. Ask friends, other investors, and realtors for referrals. Call all of your potential candidates in the same week, so you'll have identical criteria for comparing their rates, fees, and programs. Instead of trying to fit into a lender's program, interview your lenders by finding out how they can accommodate your needs. Here are a few questions to ask: 1. What are their requirements for middle credit scores and income? 2. What are their standard loan costs? These include things like points, processing, underwriting, documentation preparation, filing, and credit report fees. Can you add these fees to the loan amount? 3. Is there a required holding period before you can resell the property? Are there prepayment penalties when you flip your investment properties? 4. Do they require mortgage insurance? If so, what is the minimum percentage you'll need to put down in order to avoid having to purchase that insurance? 5. How much can you finance, and can you finance fixer houses? How much down payment would be required on such houses? 5. Can sellers help with the loan costs, and to what extent? After you've interviewed your potential candidates, make your choice according to the programs that fit your needs, as well as from the feeling you get from that person. Do they seem as if they'll be easy to work with from a personal standpoint? Since you're hoping to use that lender again and again, it's important that you feel comfortable with them as a person as well as a source of financing. A good lender wants your repeat business and works hard to find the right loan for each transaction. They may even be able to help you locate potential investment properties. Finding a great lender is a crucial component for your ultimate success as a real estate investor, so choose carefully. (c) Copyright 2004, Jeanette J. Fisher. All rights reserved. Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
Property Auction & Why You Should Run A Mile From Them That's A Funny Thing To Say About Property Auctions; They're All The "RAGE, Aren't They?"From The Desk Of Colm DillonHello Colm here .. Property Investing - Am I Buying for Profit or Prestige? All of us have emotional preconceptions and assumptions. They are reinforced and fine tuned by our experiences of life, be they traumatic, disciplined or consistent. Five Things to Help Sell Your Home Fast, and For More Money Selling your home requires some thought and a clear plan of action. Here are five things to consider when you're getting ready to sell your home:1) Know Your BuyersAre most of the homes in your neighborhood being bought by first-time or move-up buyers? Depending on which group will be looking at your home, you'll want to do the things that will make your home appealing to those buyers. A Powerful Suggested Technique for YOUR Home & Property Search A Powerful Suggested Technique for YOUR Home & Property Search by Jody Hudson You can be a pro at buying a home: Whether you are buying your first home or you are an experienced home buyer who owns more than one home, there are some things that can help you get faster results and get more professional and pleasant help from your Realtor. A home or property purchase is one of the most important and exciting events to experience. The Secret to Maximum Real Estate Profits: Lighting Lighting is the most important detail of interior Design Psychology for selling houses. Lighting influences a prospective buyer's feelings within a space more than any other interior design element. Best Time to Buy? Best Time to Sell? When is the best time to buy? When is the best time to sell? I get asked these questions constantly everywhere I go. In short, the answer is that it depends on your individual circumstances. Decorating to Sell a House by Meeting Three Key Needs Specific marketing campaigns are no longer just for automobiles and designer clothes. Targeted marketing techniques are now applied to houses that are for sale. Real Estate Investment Requires A Team I had a hard time at first with real estate investment. One of the reasons was that I tended to be a "lone wolf," trying to do too much myself. Buying and Selling Real Estate: Negotiating to Win-Win You don't get what you deserve - you get what you negotiate for.If you've spent some time on homekeys. Investing in Real Estate Profitably: Financing Options for Purchase of Rental Houses, Part 1. This is not an article about tricks for 100% (no money down) financing. Even if you do take advantage of various no money down strategies from time to time, these strategies are not generally applicable when you begin investing systematically in multiple rental homes with the goal of making significant rental income. Landlording And Other Aggravations Here's the gripping story.. Family Feud with an Auction Deadline - Adventures in Probate/ Estate Purchases One of our investor students told us of an interesting probate deal or "adventure" they're working on now and while it's a good story, it also illustrates lots of the ins and out of probate or estate issues and purchases.The Seller (we'll call him Scott) co-owned this house with his mom, and he co-signed on the loan with mom. How To Buy Real Estate - Yes, YOU CAN! If you want to buy a house but don't think you can for any of the following reasons, this article is intended to give you correct information so that you can make smarter choices and open yourself up to a world of wealth, possibilities and realistic expectations.The truth is you are being unrealistic when you believe the following reasons to be true:I can't buy property now because?I don't have 20% for a down payment, let alone 5%, let alone even 1%. Preparing for a Showing As soon as you decide to put your home on the market, all sorts of sprucing-up are in order. But let's assume you've already scrubbed to a fare-thee-well, touched up a bit of paint, cleared most of the stuff off your kitchen counters and straightened out your closets. Selling Your Home? A Warning About Attachments Before you list you home for sale, determine what you don't want to leave behind.Our friends sold their home for full price and moved out a few days before closing. Home Owners: Disclose the Facts! One of the most common causes for disputes occurring after the sale of a home arise from the buyer finding defects in the property, defects which were not disclosed to him by the owner before the sale of the property. If you are the owner of a home that you are looking to sell, please be aware that you may be held liable for not disclosing any known defects in your home. Should You Buy Real Estate Now I have been seeing the market on fire for a long time and have started telling my friends, "don't buy now". No one can accurately determine exactly when it will happen, but it is definately on the way. How to Decrease the Value of Your Own House Owning a house is part of the American Dream. Depending on where you live in the US - home ownership can be around 70%. Dont Sell Your House--Ever! Keeping your existing house when you buy a new one could be THE most profitable financial decision you could make. Consider the following:1. Is a Vacation Home Right for You? Many of us dream about owning the vacation home in the Mountains, or on the Lake or Ocean. A place where one can retreat periodically from the hustle-bustle of everyday life.
|
| home | site map |
| © 2006 |
