Viewing 1-4 out of 4 blog(s)
Assessment is an estimate, not accurate sales price
Date: 04/11/2008 / Category: Business Strategies
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Current Grade B
Preview:
A tax assessment is only an estimate, especially if area hasn’t been reassessed in a few years and shouldn’t be used as a proper price. And then some areas don’t assess at full market value.
Find out what the competing properties are listed for, what have buyers have been paying to live in a certain neighborhood, how long has the place been on the market and how motivated are the sellers for a quick deal and of course good comps. Consider those factors not the assessed value.
... continue reading >>Sub-2
Date: 02/04/2008 / Category: Business Strategies
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Current Grade A
Preview:
Subject to is when you buy a property subject to existing financing already in place. You do not formally assume the loan through the bank. The owner deeds the property to you, and you take over making the payments to the lender. The loan stays in their name. You are responsible for thepayments of the loan you take over. Money is usually needed for a subject to deal. In the case of a pre foreclosure, you would need to catch up the loan first before taking it subject to.T he home may need repairs before you market it. Or sometimes... continue reading >>Beginners Luck
Date: 02/04/2008 / Category: Big Deals
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Current Grade A+
Preview:
I started out w/ some luck back in Oct of ‘06; I was dropping off my girlfriend and saw a run down property. It was a 3b/1b house on the Westside of Indy, it was a fsbo, needed a lot of repairs. I thought it would be a good house for me to buy and fix up to live in, but I couldn’t get a mortgage at the time. So I went to my Uncle who’s been in real estate for awhile, told him about it and he suggested I try to put it under contract and assign the contract... continue reading >>
Partnerships
Preview:
Partnerships can be a good decision for investors. Partnerships can be used for many different things. Do you have time, education or money, then you are a candidate to partner w/ someone w/ different skills. You have money, but no time or education... there are allot of investors who have time and knowhow, but don't have money. If you have all 3- money, time and know how, then you don't want a partner, but most of us don't have all 3, Partnerships are just one technique for buying houses. Be careful who you partner with, a friend is not... continue reading >>