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Real Estate Investing – Commercial Loans

Real Estate investing in today’s market takes creativity looking for money to fund or refinance your deals.

Last October I had sold my tri-plex to another real estate investor.   However, due to the zoning of the tri-plex the whole deal fell apart.  

The tri-plex is sitting on a Main Street (main vein) with high traffic volume with a huge commercial warehouse across the street.  However, the driveway is sitting on a residential neighborhood (dead-end street).   This is an odd unit since it’s a duplex and a single family house sitting on one lot.   I know when I purchased it as a short sale it would be a difficult property to sell since I had issues buying it due to the nature of the building.  

Anyway, this is my cash cow and too be honest I truly did not want to sell it.

During this attempt to sell the tri-plex I met a new lender.   I contacted him yesterday to ask about first time homeowner loans here in Wisconsin.  To find out if he has a program set-up so the homeowners can receive the $8,000 stimulus package.

During our phone call he asked me how my tri-plex was going.   Meanwhile in our conversation I brought up my difficulty of refinancing my two properties in Indianapolis under a commercial blanket loan.  He instructed me he can do loans in the Indianapolis area and is going there in a couple of weeks.

This loan officer is getting back to me this week to discuss acquiring a commercial loan in the Indianapolis area.   

The point I want to stress is Persistence is the key to becoming a successful real estate investor.  Financing is always an issue when you keep building your real estate empire.  Be ready to put the boxing gloves on and keep punching.

Keep Your Mind Strong

Marshal Sylver is offering a FREE ticket to The Turning Point Seminar when you purchase The Prosperity Alliance Program.  This is a great deal.   I paid the same price to attend The Turning Point seminar and you are getting 2 seminars for the price of one.

You need to focus on building your mind strong.  Marshal teaches you to attract only the positive and keep out the negatives.   Negatives as family and friends are hurtful and are dream stealers.

Go ahead and watch Marshal’s Video for FREE!

 http://prosperityalliance.com/cindyconradt

cashflow Cindy

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.

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

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 – Recession

Whenever my husband or my kids turn on the T.V. all we hear is doom and gloom.  I even ended up getting caught up in this recession.  However, I talked to one of my real estate investing course coach and as she mentioned, she does not do recessions.

Neither do I!  I am no longer in the doom and gloom mentality but back in the prosperous mentality.

Real Estate Investing is wonderful and it’s the best way to become wealthy.  I am an information junky on real estate procedures.   However its Good information that I look for in books that I read, real estate seminars that I attend.  If you read Napoleon Hills Book, Think and Grow Rich, as he writes, 90% of the Millionaires/Billionaires made their fortunes in Real Estate.

Well, folks back to the lowest prices in Real Estate since the Great Depression.  Don’t miss this opportunity to buy real estate at bargain prices in today’s market.   Through attending many real estate seminars within the last several years; I’ve obtained a networking of people. 

I find the same common characteristics with these individuals; they all want to buy Real Estate however many of them have excuse after excuse.  Until these people realize these are all excuses and overcome their all fears, they will sit back and whine about whey they are unable to buy real estate. 

However, in 2 years when the Real Estate market starts to appreciate these individuals will be complaining how they could of bought this piece of property at a bargain price however did not and list their reasons and explain to the masses.

Don’t be the person sitting on the fence and watch others become millionaires investing in Real Estate.

Marshal Sylver teaches confidence in his students through his  Mind Power Seminar.  He also has everyone of his students go up on stage and eat fire.  Why Fire?  Confidence building, even if you don’t want to become a real estate investor.  Its all about what is happening in your mind.  

He is offering a 2 for 1 special.  Plus this link allows you to watch his 2 hours seminar for FREE:  Go grab your coffee, sit back and Learn!

http://prosperityalliance.com/cindyconradt

Meaning, you get to attend two seminars for the price of one.  He is giving you a FREE ticket to the Turning Point Seminar.  My sister and I attended his Turning Point seminar last January and it was worth the $1,995.00 price.  However, with this price we only received the Turning Point Seminar.  You get to attend the Prosperity Alliance Seminar too.

 Once you sign up; they mail you a product pack full of CD’s and DVD’s.

http://prosperityalliance.com/cindyconradt

Real Estate Investing – Section 8 (housing)

Section 8 did not pass my rent request for a tenant.  They stated my proposed rent had been found to exceed reasonable rent comparisons in the area.  Factors as location, size, type of unit, quality, age of unit, amenities, housing services provided, and maintenance are all considered in the comparisons.

These properties have tenants in place, just collect the rents in your bank account!!

http://serene.ewimultiplestreams.com/index.php?base=featured

They compare similar units in the area to ensure fair market rent is paid for units selected for participation in the Section 8 program, and that the program does not have the effect of inflating rents in the community.

They mailed me a form requesting I find 3 units in the area with the same utilities and size of units to be filled out for their rent comparisons. 

Information Requested:

Size of Unit

Number of Bedrooms

Square Footage

Current Rent

Owner Paid Utilities

Type of Utilities Used

Unit Type

Quality of Unit

Age

Amenities, Services and Maintenance

Section 8 is a great program for low income housing and also for serious landlords or real estate investors.  They do have guidelines that need to be met.  However, once these guidelines are met the rent check is mailed to you on the first of each month.  No rent collecting or phone calls or stress.  The stress is all done during the pre-rental stage meaning:  preparing the unit to meet Section 8 Guidelines.

My partner and I love working with Section 8.  We are learning all of the time however we are more than willing to work with them as they are willing to work with us. 

The end result is providing a safe, clean place for the family to live.

 Deals, Deals and More Deals:

 http://serene.ewimultiplestreams.com/index.php?base=featured

 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.