Short Sales...Unethical & Economic Deterrent?
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I have been sitting here thinking about the ethics of short sales as an investor...for example:Transferring a deed from the home-owner to the investor...
To me this does not seem like an ethical practice. You come in and explain how you are going to help, you then get the home owner to sign over the deed to his/her house to you. I understand this is done to ensure that they don't back out of the short sale, and you can get it sold and closed. However what happens if you don't find that end... continue reading >>
Make Profit through Short Sales
Are you the end buyer of the property, and buy the home from the bank at a discounted price, and quickly re-sell or is there some other tactic that I am missing? I'm not comprehending where the substantial profits are appearing from? Thanks for any advice you have.
How to Legally & Ethically Make Money Off A House You Don’t Own
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It is not uncommon that beginning real estate investors go out to recruit a real estate agent to help and find the experience traumatic. Very often they hear from the agents that the stuff they learned in the seminar or from the coach doesn’t work, in fact, as the agents pointedly tell them, much of it is illegal. To show how illegal it is, agents talk about double (or simultaneous) closings and the laws against flipping.A high school acquaintance of the author is now out on parole after eight years of a 20-year sentence for flipping, one... continue reading >>
Contract Assignments
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Assigning contracts, seems to be a great way to make a nice chunk of change without much money, and nearly zero risk...atleast that is what they say. In order to have a binding contract we all know we must make some consideration to the seller...$1...there that is your consideration.
However zero risk? that is what is questionable in my opinion. You devise a purchase contract for the owner, remembering to input the "and or assigns" clause and you go hunting for an investor. What if you are new to the game, and don't have a strong... continue reading >>
Investor Resources
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Fellow Investors
Columbus, Ohio home to nearly 80,000 new foreclosures each and every year. This is a similar trend occurring over the country and especially in the Midwest. I have been doing some research in how to find information on how to obtain the newest info. on foreclosures. Every county has a county clerk or county recorder that usually keeps track of the information. I would recommend to go to your counties respective foreclosure recorder in person. I tried writing emails, and making countless telephone calls only to be put on hold,... continue reading >>
Investors Gains or Societies Lost
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Today's Real Estate Auctions, are like a scene out of the Great Depression. A record level of home foreclosures has hit the U.S. housing sector after years of reckless lending to risky borrowers. To those on the courthouse steps, that spells opportunity. Unlike during the Great Depression, investors are still eager to enter the market.
As property values marched higher over the past decade, homeowners refinanced their mortgages to pay for vacations and new cars. Thanks to risk-tolerant "subprime" lenders, people with a history of bankruptcy and maxed-out credit cards were able to enter the housing market... continue reading >>
Ohio HUD Incentive Programs
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REO Incentives Program lowers the price of a HUD in Ohio
Ohio REO owner/occupant homebuyers will be able to:
Purchase a HUD for $100 down using an FHA loan
Obtain a $2,500 sales allowance @ closing that can be used towards closing costs, to make repairs to the home or o pay down the unpaid principal balance of the mortgage
FHA – Insured Loans Offer:
Low down payment requirements
Competitive interest rates
Flexible credit qualifying
Assumability
Pre-Foreclosure Protection
FHA 203(k) Rehabilitation Loan
Allows homebuyers to borrow funds to acquire and then repair... continue reading >>