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Real Estate Investing – Government $8,000 Stimulus to First Time Home Buyers

I am amazed at how many banks have NO idea how to utilize the $8,000 stimulus package from the government.  This is a great time to sell a house you are in desperate need of selling or a great time to flip a house.

The key is finding a local bank knowledgeable in the area of the $8,000 stimulus designed for first time home buyers.  It may take you all day to call banks, but as I keep repeating on my blog post.  Persistence is the key to becoming a successful real estate investor or any business for that matter.

Creative Ways to Finance the Deal until the $8,000 First Time Home Buyer Credit is Received:

1.       Homeowners re-file upon closing on the house and receive $8,000 stimulus package from government within a couple of weeks. (talk to CPA)

2.       Certain banks have programs where they float them a loan for the stimulus, once, they $8,000 stimulus is received then this money goes to pay off the short term loan.

3.       Investors can hold the 2^nd mortgage until the homeowner receives the $8,000 stimulus.

Real Estate Investing is all about being creative.   In these uncertain banking times, we need to be even more creative.  These ideas above are the ones we are using to sell our wholesale and flip houses.  Most banks also have credit coaches they send the homeowner to if they need to clean their credit up a bit.  Most can be cleaned up within one year.   During the duration a rent to own works.

The deadline to receive the $8,000 first time home owner stimulus is in December.  So, get moving and sell those houses.   It time to make quick cash and move onto your next deal.

Bob Proctor is giving away his program for $1 to selected students on a trial basis.

http://www.thesgrprogram.com/online/lessons?m=49f85564b2e21

Yup, they were lucky enough to get a 7-
day trial of the entire SGR program, PLUS 
all FIVE bonuses for just a single dollar.

But be quick. This is only available until 

Wednesday, 10th June.

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cashflow Cindy

Real Estate Investing Secrets - This Offer Is Contingent…

Contingency Clauses Make for Risk-Free Real Estate Investing

Real Estate Investing – Tenants are always interesting or should I say its interesting being a landlord!

This particular tenant turned into a different person after I handed over the keys to the house.   She would only communicate with me via mail.  She would not return my phone calls nor would she talk to me in person if I was standing in the driveway.  She would have her son come over and talk to me.

Her lease ran out and to be honest, I’m tired of her crap.  Well, I thought if she signs the lease for one year then I will have a tenant in place without losing rent for a month to find a replacement tenant. 

Since mail was our only form of communication I mailed her the rental lease to be signed for one year.  I have her name in the spot for Tenants Name.  She was supposed to sign the signature for the lease at the bottom of the one year lease agreement.

I received her lease agreement in the mail today.  To my surprise somebody else signed the lease agreement.  This particular person is not on the lease nor do they have permission to reside in the property.

A letter was typed up to inform this tenant that this person was not on the lease agreement and will not be allowed to rent this house.  I also included a 28 day eviction notice to inform the tenant the lease will not be renewed by the landlord.  After the tenant attempted to put somebody else in the house without asking for permission and having them sign the lease agreement without their name on it.

I don’t care to have a tenant in my property that is attempted to be untruthful.

To be a landlord it takes different skills and training to learn the laws and how to deal with the tenants.  If you are interested in learning Property Management Skills I would recommend John Dessauer’s Property Management Program for $49.00! (Unbelievable price)  Education is critical to gain the skills to be a successful landlord.

John is a Multi-Millionaire who made is fortune in Multi-Unit Apartment Buildings.  He is the only guru I know who sells his programs with a super low price and provides us with quality learning.

Find Your Life’s Freedom’s! Take Action Now!!

Time and Time again and I hear the same from bankers.  Real Estate Investors have no idea what skills it takes to be a successful landlord.  This is your investment so you need to invest in education to learn the skills neccessary on Property Management.

 Real Estate Investing - Science of Getting Rich (Written by Wallace D. Wattles)

Go to your local library and check out a copy of the book “The Science of Getting Rich”. Only 3% of people own a library card if you are one of these people.  All you need to do is walk into a library and request an application to fill out to obtain a library card.  It’s FREE

http://store.sixminutestosuccess.com/?aid=588984

 Today’s lesson with Bob Proctor on sixminutestosuccess was on Chapter 7 in the book, “The Science of Getting Rich”.  This chapter is on Gratitude.  I want you to take six minutes and think about everything you are grateful for in your life.

 Real Estate Investing requires the skill of Gratitude.  We all need to Thank God for our wonderful wealth we have obtained or are about to obtain through real estate investing.

 Now, call up three of your friends or family and tell them You are Grateful for their friendships.  Tell them three of them today!  This is an excellent habit to do each and everyday. 

http://store.sixminutestosuccess.com/?aid=588984

 It is critical that you observe the Law of Gratitude if you are to obtain the result you seek in your real estate investing.

The program will apply to loans made on or before Jan. 1, 2009, and modifications will be allowed only once. Mortgages with a first loan of more than $729,750 do not qualify.

The plan runs through 2012 and starts immediately.

“It is imperative that we continue to move with speed to help make housing more affordable and help arrest the damaging spiral in our housing markets, just as we work to stabilize our financial system, create jobs and help businesses thrive,” Treasury Secretary Tim Geithner said.

Sinking home prices and mounting foreclosures are dragging down the economy. By the end of last year, at least one in five U.S. homeowners with mortgages, or about 8.3 million people, owed more than their homes were worth, according to data released by First American CoreLogic.

“Today’s announcement means you should call your lender to find out if you qualify,” says Lawrence Yun, chief economist at the National Association of Realtors. “This should get the ball rolling.”

Details:

•Loan refinancing. Up to 5 million homeowners with a solid payment history on mortgages held or owned by Freddie Mac and Fannie Mae will be eligible to refinance into more affordable terms.

People will be able to refinance even if they have less than 20% equity in their homes, and an appraisal may not be necessary.

•Loan modifications. Lenders and other servicers can immediately begin making modifications that could help up to 4 million at-risk homeowners stay in their properties.

To be eligible, homeowners with a first loan can have an unpaid principal balance up to $729,750. (Higher limits will be allowed for owner-occupied properties with two to four units.)

Incentives also are provided to get lenders to modify mortgages if a borrower isn’t late on payments but is at risk of default.

“I like the plan because it addresses (homeowners) who are not behind on payments,” says Yun. “It addresses people who could default. It’s proactive.”

•Lenders and other servicers. Servicers also must follow an established process to reduce the monthly payment to no more than 31% of the borrowers’ gross monthly income.

Servicers will get financial incentives, such as an upfront fee of $1,000 per modification, to encourage participation.

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 A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure auction or bankruptcy. As an investor, instead of buying from a seller, you are purchasing the property directly from the lender for a discount.For example: A homeowner who is facing foreclosure, has an existing first mortgage of $300,000. You write an offer to the lender for $220,000, which is accepted as full payment for the loan. This is a short sale.

Why is Today the Best Time to Buy Real Estate?

Are you leveraging the real estate pricing drop for your own financial advantage? The current recession coupled with the rapidly rising quantity of foreclosures has presented real estate investors with a real financial opportunity. For those investors who capitalize on reduced pricing by building a real estate portfolio, financial gains are available to generate. However, real estate investing is not for everyone.

Before you take the plunge into the real estate market, it is essential to understand both the risks and the opportunity. Increases in home foreclosures have also increased the requirements for real estate buyers who are seeking financing options. Take time to assess your present financial situation to determine how much capital you have available for down payments, closing costs, repairs and to cover mortgage payments in the event that you must hold onto the property before it sells or rents to a tenant.

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What is the Upside to Real Estate Investing Today?

The upside of real estate investing today has never been higher. Everything is on sale! And as we all understand, when things are on sale, you are buying much more for your money. If your end goal is to sell a property for a profit, your potential profit margin increases substantially when you locate a property at a discount.   Great cash flow deals located at http://serene.ewimultiplestreams.com/index.php?base=featured

The Real Estate Rental market is extremely strong and growing stronger each day.  As one Hard Money lender quoted me in an email 2 weeks ago.  “THE RENTAL MARKET IS HOT!”  He rented out 4 houses in one day and was extremely excited.  This particular hard money lender owns over 100 Single Family houses in Indianapolis, Indiana and was excited to have rented 4 houses in one day.  Landlords in Indiana were hard pressed to get their units full prior to the first day of school.  The old norm:  once school started tenants did not move until spring.  How quickly the tide has turned.  I find this turn of events to be extremely fascinating how people today are moving in November, December and January.  All Cold months!  If you live in the Midwest you are extremely familiar with the term COLD.

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Now, I will talk about my own experience with rental properties.  I had two phone calls today on rental properties.  People are calling in December and will be moving either before Christmas or December 31.  I already had 2 people ask me if they would be able to move in one week before Christmas.  This is truly unheard of people moving before Christmas and in the Cold months!  What an unbelievable Market and a Great Opportunity for new investors to start buying Rental property.   Cindy