Real Estate Blog
Lease with the option to purchase
A lease with option to purchase may sound like your just another renter, but it’s more than that. When you find a home you like, you don’t want someone else to get that house while you’re trying to get qualified for a home loan. Loans take time and can cost you the house you want. (more…)
How not to buy a home
First, we go driving all over town to find all the houses we would like to live in and burn $50 in gas. We pay for take-out since we didn’t get home until late because we got lost, twice. Next, we try to remember where all these houses were and try to contact an agent to put in an offer on the one we like the most. Since the one we wanted just went under contract because we were not fast enough, we put an offer in for our second choice. The seller likes our offer and asks for a pre-approval letter from the bank, oops. (more…)
Advantages of an LOC part 2
I told you before how much more you can do with a line of credit than you can with a standard loan. Now, let me explain what you are looking for. Most large banks provide the kind of line of credit we want. There are a few things to ask for: (more…)
Advantages of an LOC (Line Of Credit)
Many people don’t understand the differences between a loan and a Line of Credit. Here is where you will be amazed. (more…)
What banks are looking for in a real estate loan application
Although banks are hungry for the amount of business they had before 2008, they are still required to hold their ground with some regulations that are cutting their own throats. Over the last two months, I have interviewed over twelve (12) banks and lending agencies for loan requirements for my own use and found some hefty requirements. (more…)
Owner Financing
The mainstream media is currently trying to tell everyone that the housing market is getting better, looking up, showing promise. OK, where? As I have said before, the housing market is like every other market place, some cycles are great for the buyer and sometimes the market is great for the seller. Right now it is most definitely the buyer’s time. So, “where are the buyers?” you say. The ones that can buy are getting the best deals they can in REO’s and foreclosures. They are not going to waste their money buying in the retail market when there are so many half-priced houses on the market. The other buyers that are interested in your house are still waiting for the bank to approve them for a loan. Out of all the potential buyers in the market right now, only a small percentage can get funding to actually buy. (more…)
Move-In and Move-Out Inspections For Tenants / Landlords
A tenant should by no means move into a rental property until each of the following items are accounted for by all involved parties: (more…)
Smart Way To Use Credit Cards
The use of credit for investing has been one of the big contributors to the prosperity of the United States during the turn of the 20th century. We see it all over middle Georgia. It was also the main cause of the great depression of 1929 and a major contributor to our depression in 2008 (Note: The US has shown an economic downturn roughly every 40 years, anyway.). The use of leveraging someone else’s money or extending credit to invest has created most of the wealth you see today. Investing without credit means that you must use all of your own money to complete a transaction. (more…)
Tax Tips For Home Buyers
Taxes play a big role in buying a house, but you may be playing the right game with wrong house. Let me explain. You’re a renter. You rent every month for a “unit” you don’t own. At the end of the year, you cannot claim your rent on your taxes as an expense unless there is a business involved and we won’t get into that right now. That is a monthly bill you cannot do anything with but pay. (more…)
Mortgage 101
Mortgage 101 is for those of you who are new to the world of money. This should explain some details about a mortgage. When you are in the market for homes for sale, the first thing most people do is get pre-qualified from a bank. IMPORTANT: If you don’t like the terms from one bank, you can shop around. Most banks have different terms and rates in order to compete with others. Going to a mortgage broker can be helpful, just ask if they are a captive agent. Captive agents have contracts with certain mortgage companies and are not out for your interests. You want a non-biased, non-captive agent who can give you many options. (more…)
