Steps to Freedom: August 2009

Sunday, August 16, 2009

Where Can I Find Foreclosure Property Listings For Free?

Before the introduction of the free repossessed property listings online, locating this kind of property was difficult.

The numerous sites available now have made it easy for real estate investors and individual buyers to locate property that has been put up for sale by banks and other financial institutions. You can find repossessed property listings online for free, with the best sites available. Dispossessed homes are known to be very expensive and a lot of credit should be given to the sites for providing the home listings free of charge. The best place you can bank on the services of the free sites is where you register with them to receive updates on the latest listings of repossessed homes.

The greatest advantage of finding a good listing site is so that locate a perfect home by going through the listed homes and choose one. Since the sites list the homes with their states it becomes even easier in locating your perfect home. Banks and real estate developers mostly use this sites to place their property for users to cases. The best thing about the free home/property listings is that you can get your dream home at the cheapest price possible you can even compare home prices. The additional information added on the home or property listings includes descriptions such as the homes footage, features the condition of the home and the price.

Most of the time the free listings online are normally done for a trial basis of seven days. Before using this services however it is important to compare and contrast the sites because same may tend to charge their services. You can find the sites easily on search engines with various options to help you conduct a search easily. It is however wise to sign up for these services in the numerous sites available. Signing up will guarantee you frequent alerts on the latest repossessed homes. The listing services come with competent customer care; the sites provide help for the users who are interested in the properties. The listings are nationwide meaning that you can locate homes in neighboring states.

By the way, by researching and comparing the different free foreclosure listing services in the market, you will be able to determine the one that meets your specific requirements, plus the free or cheaper options. This way you will save time through up to date foreclosure listings and money by getting better results over your investment.

Hector Milla runs the Best Free Foreclosure Listings website, where you can see a review of the best rated free foreclosure listing service.

Read our full reviews, plus hundreds of articles and video training about this subject.

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Saturday, August 15, 2009

Real Estate Investors - Three Basic Types of Banks for Your Real Estate Investing Needs

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Real Estate Investors - Three Basic Types of Banks for Your Real Estate Investing Needs

By Chris Parks

There are many different types of banks and when it comes to lending money to real estate investors, each serves different customer needs. For our purposes, we will divide banks into three main categories: Nationwide, Regional, and Local.

Many of the nationwide banks offer several lending products to assist homeowners, commercial investors, real estate developers, and more. These large institutions provide many consumer and commercial mortgage businesses with several options. In the beginning however, for the most part they offer little or no flexibility for the short term real estate investor. Do not totally discount them though because once your business is established you may be able to secure a business line of credit.

Regional banks are smaller and often have several branches spread across one or perhaps several states. Local banks are similar but normally have even fewer branches than regional banks. These are the two types of banks that provide real estate investors the best options. Why?

Because these are portfolio lenders, which means that these banks hold the loans "in house" (as opposed to nationwide lenders who normally sell the loans to a secondary lender). This gives smaller banks the utmost flexibility to set terms and guidelines. They will often determine whether or not to loan money after they assess a borrowers' financial situation and the deal. These lenders will require a borrower to fill out a loan application, provide tax returns and pay stubs; they will also analyze a borrowers' credit. Likewise you can arrange a meeting directly with the President of the bank or the person who actually makes the funding decisions.

For the most part, this is not a quick process. It will often take 30-60 days for the process, especially for first-time borrowers. However, the overall costs and rates are comparable to the larger banks as opposed to fees imposed by Private Money Lenders.

It's worth noting too that not all regional and local banks operate under the same lending guidelines. Because they are independent of larger corporations, they have different underwriting rules, lending criteria, and risk evaluation. They also offer different rates and fees. Real estate investors need to first find the right kind of bank to borrow from and then find out what the lending requirements are to see how you can match those requirements.

The easiest place to find out which banks have the type of product(s) you are looking for is to go to the real estate investors who are already borrowing from them. Attend your local Real Estate Investor Association (REIA) meetings to find other investors who are borrowing money from local or regional banks.

Updated Site! Visit http://www.REIforNewbies.com for all your Real Estate Investing Needs. Wholesaling, Rehabbing, Money Articles, Where To Start Reports and Much More - A Perfect Resource for Beginning Real Estate Investors plus up-to-date Real Estate Investing Tips for Experienced Investors as well. Take A Look! http://www.REIforNewbies.com

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Friday, August 14, 2009

Real Estate Bird Dog - Tips to Find Real Estate Investors

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Real Estate Bird Dog - Tips to Find Real Estate Investors

By Gary Goh

Finding real estate investors to birddog for is part and parcel of real estate bird dogging. You should not have trouble finding investors to work with you as most of them will gladly accept your offer to work and generate new leads for them. Below are some of the more common ways of finding them:

a) Classified ads - pay attention to ads such as "we buy houses for cash", "we buy ugly houses", " we will buy and lease your house" & etc. Call these ads and tell them you are providing real estate bird dog services and see whether they are interested in working with you. This method requires you to have good communication skills and therefore, you are advised to brush up your skill in communicating.

b) Investment Clubs - real estate investment clubs are beneficial and is very useful in networking for live real estate training. So, start joining your local investment clubs and introduce yourself to them as a real estate bird dog.

c) Advertise your service - you can consider advertising your real estate bird dog services if you have a small budget for advertisement. Put up a classified ad in your local paper and if possible mention about your specialization. Say if you are good at generating leads in foreclosure, then say so in your ad. By doing so, you will increase the chances of attracting the investors that you want to work with.

d) Seminars and events - knowledge is power and real estate investors are constantly improving their knowledge. Attending these seminars and property events provide you an opportunity to meet them and you can take the chance to introduce your bird dog services.

Aside from the above, there are other various methods of locating investors such as real estate websites, forum, chat room, foreclosure auctions and etc. Try to be creative and you will find that it is not difficult to find investors to offer your services.

Find out where you can find Real Estate Investors Check it out HERE

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Real Estate Short Sales - Answers to the Top 10 Most Frequently Asked Short Sale Questions

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By Sean Bonini

With the national real estate market in turmoil we are seeing homeowners turn to short sales as a solution to avoid foreclosure. In this article we will answer the top 10 most frequently asked short sale questions that we receive from clients. We highly encourage you to explore all of your options to avoid foreclosure and become as informed as you can about each option and speak to qualified individuals who can help you decide what is best for you and your family.

Now, let's answer some questions!

1. What is a Short Sale?

A short sale is when a homeowner owes more to the bank than the value of the home and the bank agrees to sell the property for less than is owed. For example, if your outstanding mortgage balance is $500,000 but your home is only worth $300,000 then you are upside-down and may be able to do a short sale to get you out of the property.

2. Why would a lender accept less?

A lender or bank takes a discount or agrees to take less because it saves them money in the long run. It gets bad debt off their books so they can reinvest that money by giving out another loan to a customer. In many cases a short sale is necessary in order to get you out from under your mortgage debt. By doing a short sale, you will be able to take a large bite out of the money you owe to your mortgage company so that you are no longer liable for the entire amount.

3. What is required?

First you need a qualified, professional short sale agent who knows how to handle this special type of transaction. Your agent will know how to properly prepare the financial package for the bank.

Every lender or bank has its own set of required information and some may even have a set of paperwork specific to them. In general, most banks require at least the following:

Hardship Letter

Financial Statements

2 Years Tax Returns

2 Months Bank Statements

2 Months Paystubs

Profit & Loss Statement (If Self-Employed)

Throughout the process additional paperwork may be requested so be sure to keep everything handy.

4. How long does a typical deal take?

Depending on what state you are from, this answer will vary and thl timeline is subject to your lender or bank. Many banks are overwhelmed right now with short sale requests however most do have an understandable review process. Unnecessary delays can be avoided by not sending incomplete short sale packages. Incomplete offers are often passed over or rejected. Your file is then closed and you would have to start over from the beginning. It is very important to be sure you provide everything required by your lender and requested by the person helping you negotiate. On average we are seeing most of these deals being closed in less than 90 days.

5. How much does it cost?

Unlike a traditional real estate listing where you pay an agent a commission to sell your property, in a short sale transaction the lender pays for the commissions so there is no out-of-pocket cost to you.

6. How long until I can buy another house?

There are new loan programs designed to help people who have recently had to short sell their home. You can apply for a home loan in as little as two years provided you have maintained your credit with good payment history, kept your debt-to-income ratios within lending guidelines, and have verifiable income.

7. What qualifies as a hardship?

There are many types of hardships that can be considered valid. Here are a few:

Mortgage rate adjustment

Increase in monthly expenses

Need to move

Reduced Income

Unemployment

Health issues

Separation or Divorce

Medical Bills

Business Failure

Business cutbacks or downsizing

Death of a Spouse

A valid reason you are unable to make your mortgage payment

8. Can I short sell an investment property or 2nd home?

Absolutely. It is a common misconception that people think they can only short sell their primary residence but this is not true! You can do a short sale on your primary home, all of your investment properties, and even on your second home.

9. What about my credit score?

There is a lot of misinformation floating out there about credit scoring. You will definitely want to seek a credit expert for more information about your situation. In speaking with credit experts ourselves, most have agreed that although a short sale will probably affect your credit in some way it will not be as badly affected as a foreclosure would. A good credit repair company may be able to negotiate any damaging remarks on your credit report. By doing a short sale you can avoid having a foreclosure haunt your credit for years to come.

10. Who can do a short sale for me?

You will need a well-qualified real estate agent to help prepare all your paperwork, list your property, and navigate through the negotiations for you. We also highly recommend that you consult with a qualified tax attorney, CPA, and real estate attorney regarding any future ramifications.

You can find more information about short sales and foreclosure avoidance options at http://www.AzHomeHelp.com

Sean Bonini is a Real Estate Agent/Broker in Scottsdale Arizona specializing in short sales. He serves as the Managing Director of AzHomeHelp.com which is a company that helps homeowners avoid foreclosure.

Sean's up-to-date blog at http://www.PhoenixRealEstate247.com also covers local and national news regarding the real estate & mortgage industries with a focus on helping homeowners in distressed mortgage situations.

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Thursday, August 13, 2009

Real Estate Investors in 2008 and Beyond

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Real Estate Investors in 2008 and Beyond

By Nic Faivre

With the economic state in many countries on the down slide, many people are wondering if they will be able to afford to ever own their own piece of the dream. The dream, being owning their own home.

What is important to note is that many people purchased property at high prices. The public were lead to believe that if the price was high ... then that meant quality and stronger selling power.
In reality it meant 1. Risk 2. Debt .... and loads of it.

In 2008, people have been told to shy away from the housing industry because of the ever decreasing housing market. If you are an individual who purchased high and are now seeing the prices fall .. I feel for you. If however you are considering to enter the arena of real estate investing, then there is no better time. The real estate investor needs to be alert and know that markets have constant trends. Sure, we see the housing prices going down, so what should that indicate to the astute Real Estate Investor?

Sirens should be blaring to indicate that now is the time to buy. Private real estate investors have more negotiating power than ever before. Before the housing slide, the Seller would have the bargaining chip over the investor. This has now changed and simply stated, the seller can not afford to lose the interested investor.

It is not unheard of to decrease an offer by more than $20,000. Actually all real Estate Investors should never accept a price as advertised. I don't care if its been reduced previously ... or even if the seller indicates that they will only accept 'offers over ..' Remember the key for 2008 - The Real Estate Investor, or the potential buyer has the power.

This economic down period is prime time to buy and hold if you can afford to do such. An important key to real estate investing is that when the market is down ... then it will surely go up again.

For land developers there is no change to your profit margins. Putting it simply, yes houses, apartments and residential/ commercial projects will be less for the selling price HOWEVER, please take note that the land will be cheaper. In almost all cases you will end up with the same or near the same profit margin. Just don't forget to do you home work when purchasing land at the commencement.

I must take my hat off to an expert in the field of Real Estate Investing - Mr. Charles Dudley. He has coined the phrase which will be my guide and which also should be the guide of all real estate investors. "Pigs get fatter, while Hogs get slaughtered" - how true is this in the real estate industry.
Accept and project your profits - then march forwards and reap what you expected to gain. If you do this then you will receive repeated customers.

So, if you are doubting 2008 - don't. make 2008 and onwards - the year of your real estate investing business!

Nicolas Faivre is a full time Entrepreneur and Real Estate Investor. Nic believes in the power of giving without want and his dedication to his networking team shows. Nicolas Faivre can be reached at http://www.RealEstateInvestorsAustralia.com

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Wednesday, August 12, 2009

Make Money with Real Estate - starting from where you are!

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Make Money with Real Estate Starting from Where You Are

7 tips to make lots of money with real estate

Start From Where You Are

You can do this! I don’t care where you are no matter what you do right now you can build a real estate empire. If you will just take the steps outlined here you can be on your way to a life style that others only dream about.

What To Do First - Start Saving

The first step towards your life of luxury is to save. Each week or pay day, just set aside a certain portion of your pay. Soon you will have enough saved for a start on your investment journey.

A much quicker way is to use equity, either the equity in your own home or equity that you may be able to "borrow" from somebody else.

Of course that other person would need to be supportive of your property aspirations and be willing to let you borrow against that equity.

What To Do Next

Buy Your First Property! Buying your first investment property is the most important investment step you will ever take. It is a step towards your financial freedom. Once you have made it your perspective will begin to change, sometimes very quickly.

Using the deposit funds that you have now secured as above, look for a property that is attainable.

In addition to an attainable property tyhere are several other selection criteria you need to keep in mind. Further details on these can be found on the SELECTION CRITERIA PAGE.

Don't Ever Sell

Here is where a lot if would be property moguls, make their biggest mistake. They look for a cheap unit or house to buy and possibly fix up and then they sell it. Or maybe they wait for the right time in the property cycle to buy a nice properly and then they sell it. This is like killing the goose that laid the golden egg!

The whole point is that there is no other investment vehicle that

You may be thinking "How will I retire if I am never going to sell?"
Just before I answer that question, let me ask you this:
Do you think there is anywhere that you can put your money that will give you the benefits of property ownership? I'm sure you are already familiar with the numerous advantages that investment property holds over any other form of investment.

Long term tax advantages.

Price stability.

Capital growth that is consistent through property cycles.

Set and forget – investment real estate is a simple to manage and hold investment. You don't have to check the current price every day for fear of wild fluctuations.

Pyramiding Your Investment

With all of those advantages you will be wondering how you build on your initial investment if you are never going to sell. It's as simple as this, you use the value of that property plus some of the equity from a previous property to fund your next purchase. Then after a while, say a year or so, you do it again.

Don't underestimate the value of what I have just said, or just how powerful this method is. The important thing is to maintain your faith and confidence in the long term value of the property market.

The Power Of Compounding And Pyramiding

This is a powerful driver towards you making money with real estate.

Just as an example, say you bought a property now while prices are stagnant or in decline. Yes, yes I know it sounds counter-intuitive, but buying while prices are low is a really good idea!

Any way, so you bought a property worth say $300,000. A nice little 2 bedroom unit in a new complex near the centre of an up and coming town or city.

So you put up 5% deposit and borrow the rest. That means that you need to come up with cash or equity of $15,000. But then, and this is the exciting part, then you own a property worth $300,000.

If you have bought in an in demand area, you could reasonably expect that the property will experience capital growth of 5% to 8% in the next year. That will mean that by the end of year one your property will be worth between $315,000 and $324,000.

Whet you do NOT do with that increased value is spend it!!

What you do the next year is buy another property.

This is how you make money with real estate!

Let's examine what you would have at the end of the second year if you followed this plan. Your first investment property is now worth approximately $340,000 and the second investment property you have bought for $315,000 is worth $331,000.

   START OF YEAR ONE
          Starting investment or equity:  $15,000
          First property:                $300,000

   End of first year Property 1 value:   $315,000
                Newly Acquired Equity:    $15,000

   YEAR TWO
          Purchase second property:      $315,000
          (Higher price to account for increasing values)

   End of second year Property 1 value:  $340,000
   Less purchase price:                - $300,000
            Property 1 Newly Equity:      $40,000

   End of second year Property 2 value:  $340,000
   Less purchase price:                - $315,000
            Property 2 Newly Equity:      $25,000
                                         --------
   Your Total Newly Acquired Equity:      $65,000

If you continued with this plan, where every one or two years you bought another property, then by the end of year ten you may have 7 to ten properties.

Your first two or three properties would have approximately doubled in value and the median priced house that you were aiming to buy would be valued about $550,000 to $600,000.

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Where Can I Find Foreclosure Property Listings For Free?

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By Hector Milla

Where Can I Find Foreclosure Property Listings For Free?
By [http://ezinearticles.com/?expert=Hector_Milla]Hector Milla

Before the introduction of the free repossessed property listings online, locating this kind of property was difficult. The numerous sites available have made it easy for real estate investors and individual buyers to locate property that has been put up for sale by banks and other financial institutions. You can find repossessed property listings online for free, with the best sites available. Dispossessed homes are known to be very expensive and a lot of credit should be given to the sites for providing the home listings free of charge. The best place you can bank on the services of the free sites is where you register with them to receive updates on the latest listings of repossessed homes.

The greatest advantage of finding a good listing site is so that locate a perfect home by going through the listed homes and choose one. Since the sites list the homes with their states it becomes even easier in locating your perfect home. Banks and real estate developers mostly use this sites to place their property for users to cases. The best thing about the free home/property listings is that you can get your dream home at the cheapest price possible you can even compare home prices. The additional information added on the home or property listings includes descriptions such as the homes footage, features the condition of the home and the price.

Most of the time the free listings online are normally done for a trial basis of seven days. Before using this services however it is important to compare and contrast the sites because same may tend to charge their services. You can find the sites easily on search engines with various options to help you conduct a search easily. It is however wise to sign up for these services in the numerous sites available. Signing up will guarantee you frequent alerts on the latest repossessed homes. The listing services come with competent customer care; the sites provide help for the users who are interested in the properties. The listings are nationwide meaning that you can locate homes in neighboring states.

By the way, by researching and comparing the different [http://www.bestfreeforeclosurelistings.com]free foreclosure listing services in the market, you will be able to determine the one that meets your specific requirements, plus the free or cheaper options. This way you will save time through up to date foreclosure listings and money by getting better results over your investment.

Article Source: http://EzineArticles.com/?expert=Hector_Milla
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Monday, August 10, 2009

Real Estate Investors & The Importance of Knowing Your Exit Strategies

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By Chris Parks

Real Estate Investors are often tasked with knowing his/her exit strategies before getting into a particular situation. It is important to remember that exit strategies will be different depending on what type of investing you plan on doing.

One particular difference is whether you are planning on holding a property long term (as a rental) or if you are planning on making money as soon as possible.

If a property has little or no equity, holding long term will generally give you more options then if you are looking for short term exit strategies. And then it depends on how much the mortgage is vs. how much you can get for rent and how much your expenses are. Also, how much money you are willing to spend and whether or not you are willing to go negative in terms of cash flow (which I do not recommend, but know many investors who will).

If you are looking to get in and out of a property quickly, then properties with little or no equity would not be the way to do it unless you or investors you know work short sales or are interested in buy/hold like I explained in the previous paragraph. If this is the case then you can pick up bird-dog fees all day long by referring these types of properties to real estate investors who are looking for them.

Always ask around at your local REIA meetings to see which real estate investors are buying properties with little or no equity and find out what exactly they are looking for.

A property with a lot of equity generally gives investors the most options, especially if it needs work and provided the seller needs (not wants) to get rid of it. Of course a real estate investors' overall purchase criterion needs to look at more than just equity.

There are a lot of different ways to make money in Real Estate. You can bird-dog properties, wholesale properties and/or rehab them as well. Investors often make the most money rehabbing properties from sellers who need to sell. Many of these types of properties can be major fixer-uppers, or condemned properties that have equity.

As a rehabber, the very bottom line for quick-cash is this:

Buy low
Improve
Price it to sell quickly (especially in today's market)
Deposit your money

That being said of the three, rehabbing is not the quickest way to profit and by far much more involved. Real Estate Investors who know his/her exit strategies before putting any property under contract will have the most flexibility and thus the most choices.

About the Author:

Chris Parks is a member of a small group of Real Estate Investors and Entrepreneurs who created Real Estate Investing for Newbies http://www.REIforNewbies.com in order to teach and assist new Real Estate Investors in a step-by-step and easy-to-understand manner.

Visit http://www.REIforNewbies.com Today to Claim Your Free 7-Day eCourse!

(c) Copyright - REIforNewbies.com. All Rights Reserved Worldwide.

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Sell Your Real Estate Notes

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Sell Your Real Estate Notes

Steve Gillman

People sell real estate notes to raise cash quickly. A real estate note is just the loan document created when you financed the sale of your house or investment property. It could be a mortgage note, or a land-contract or contract-for-sale. The point is that the buyer is making payments to you, and you want to cash in.

You can sell the entire contract, or just a certain number of payments if you want. The buyer of your property will have the same terms and payments. He'll just be making those payments to somebody else.

Selling real estate notes can be an intimidating process. You know you won't get the full face value for your note, but will there be other fees you have to pay too? How do you know if the buyer is reputable? What is a normal discount on a note? Here are some guidelines to follow:

No upfront fees. If they ask, go someplace else. You should be able to find many note buyers who will check your buyers credit and give you a quote without charging you.
No other fees, with a couple exceptions. The buyer has already figured his expenses before making the offer, so there are only a couple fees you should have to possibly pay. First, you may have to pay for the title policy, if there are problems with the title that prevent purchase. Second, if the property appraises at less than the sales price, you may have to pay for the appraisal. You should only pay exactly what these cost the note buyer though.
Be sure that the note buyer gives you a written purchase agreement with the purchase price and contingencies. Ask questions about anything that isn't clear.
The note buyer should check the credit of your property buyer upfront. Unscrupulous buyers can quote one price initially, and then lower it later, using the excuse of the property buyer's bad credit score. This is called "bait and switch," and it isn't ethical.
Contact several note buyers for quotes. You'll need to provide information like the type of property, sale price, payment amounts, current balance, etc. They should respond within a day or two.
When you get a quote you like, you'll have to send copies of the Mortgage or Deed of Trust, the Note, the closing or Settlement Statement, and the Title Policy. If there is no recent appraisal, they will usually arrange for that.
Processing time varies, so ask. Usually, once you agree to the offer and send the documents (if done by mail), you can expect to receive a certified check or electronic transfer to your account within two to three weeks.

Get Top Dollar When You Sell Real Estate Notes

Notes with a balloon payment get a higher price. "Seasoned" notes sell for more too. Those are notes that have had payments made on them for a while. Some note buyers will buy new or "unseasoned" notes, but if you can wait until six payments have been made, you're likely to get a much better price.

Higher interest rates and shorter loan periods will get you more money too. This is something to consider before you sell the house, if you think you might sell the note in the future.

You can sell second mortgage notes, and other second-place real estate notes as well. Note buyers will look at these differently though. The first and second place notes can't add up to much more than 70% of the value of the property, or you'll be looking at a steep discount

Discounts, by the way, will almost always seem steep. It is common for note buyers to pay 20% to 30% less than the current balance on the note. I'll let them explain why. Suffice it to say, they need to make money on the deal, and you should be sure you have a good use for that cash before you sell those real estate notes.

About the AuthorSteve Gillman has invested in real estate for years. See a photo of a beautiful house he and his wife bought for $17,500 on his home page, or go straight to the section on Investing In Real Estate www.HousesUnderFiftyThousand.com

Sunday, August 9, 2009

Renovating Government Foreclosures and Building Sweat Equity - On a Budget

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By Joseph B. Smith

Many government foreclosed homes are in great shape and ready for you to move in. However, many excellent bargains on the foreclosures market require a little bit of work - sometimes only some clean up and paint - to make them look their best. If you have a foreclosure property that needs a little bit of a touch-up, that is actually great news. It means that you can quickly and easily build sweat equity. This means that you can renovate, clean, and repair a few minor things in the foreclosure and actually build the value of the property.

If you have a foreclosure that you would like to repair and clean up a little bit, you will want to spend as little money as possible while creating the most dramatic results possible. While it is possible to spend tens of thousands of dollars on a renovation, it is also possible to spend a fraction of that amount to get the same terrific results. Plus, the less you spend on your renovations, the more profits you will realize because the less you will invest to build your property's value more.

The first step in making your foreclosure look its best is to look for quality, low-cost supplies you can use to make the property look great. You may need molding, for example, or replacement flooring, doors, windows, or appliances for your foreclosure. You can save money on these purchases by looking in classified ads.

Classified ads are filled with low-cost supplies that are in great shape. Rather than paying full retail price, you can save a lot of money by purchasing used items. Some classified ads even feature brand-new building materials that are sold at a fraction of the price of the materials sold in stores. Write down what you need and then write down the specifics of what you need - such as the dimensions of those windows - and start scouring the newspapers. You never know what you'll find.

Another great option is to become friends with a contractor or renovator. These professionals often have access to very good quality used products. For example, a contractor may need to remove cabinets from a home in order to install new cabinets. The homeowner will usually ask the contractor to simply dispose of these cabinets, even if they are still in very good condition. If you know a contractor, he or she may be willing to sell you these items for a very affordable price. Some contractors even give these items away to avoid having to pay for their disposal.

When renovating your government foreclosure, also consider painting or replacing only parts of items. For example, if a wood floor needs some work, consider replacing only a few floorboards rather than the whole floor. You will often still get a great result, but at a fraction of the price. Similarly, if the fridge that came with the government foreclosure works great but has lots of chips, consider re-enameling the fridge. A new coat of enamel paint costs a tiny fraction of the price of a new refrigerator. You'll be amazed at the number of things you can fix simply by repairing or repainting. As an added bonus, you can often paint and repair these items yourself, so you will save money on contractors as well.

Joseph B. Smith has been educating buyers on the finer points of Government Foreclosures at ForeclosureListingsNationWide.com for over five years.

Article Source: http://EzineArticles.com/?expert=Joseph_B._Smith
Renovating Government Foreclosures and Building Sweat Equity - On a Budget

Friday, August 7, 2009

Real Estate Investors Discover Forex to be a Better Deal During Bubble

Image via Wikipedia

By Scott Shubert

Every day we read more news about the real estate "bubble" and how prices are leveling off or even dropping around the country. Naturally this news makes many real estate investors more cautious about buying. Flippers are no longer able to rely on rapid appreciation in order to make their profits. Investors who buy and hold or lease option properties are wondering if their deals will earn any profit in the next 2 to 3 years and many wonder how long they will have to hold a property to realize any profit. Many investors have discovered that they may be stuck with a property they cannot sell for a profit and cannot rent with a positive or break even cash flow now that real estate is just not selling the way it was in the recent boom cycle. Some investors are considering other alternatives and either holding off on further buying or getting out of the business altogether until there are signals that the market has reached the bottom of its current correction.

Accelerated Wealth Through Forex Trading

While it is currently uncertain as to whether real estate prices will see any rise over the next few years some investors have chosen to postpone any further buying activity and look at other alternatives. One of these alternatives that has become quite appealing to some is Forex trading. Investors who have been taught the power of leverage through "no money down" buying strategies quickly understand the power of leverage in the Forex market. Forex trading is one of the few businesses in which one can start with a relatively small amount of capital and within a short period of time begin multiplying that capital into a larger and larger numbers. Some traders who have mastered this business have taken accounts from $1000 to over a million in one year. Not only would that be extremely difficult to achieve in real estate, in most cases the equity that is achieved in real estate is not necessarily liquid.

No "Down" or "Bear" Market in Forex

"Forex" is short for Foreign Exchange or the currency market. Because currencies are traded in pairs such as the Euro vs. the U.S. Dollar traders are never stuck with a downward trending market. If the Euro's value is falling relative to the U.S. Dollar the dollar is rising relative to the Euro and vice versa. A trader may buy or sell the currency pair at any time and profit is earned by trading in the direction of the movement whether it be up or down. If a Forex trader believes the Euro vs. the U.S. Dollar pair will rise she will enter a trade position of buying the pair. In this case Euros are being bought and dollars are being sold. If the trader believes the pair will fall he will simply enter a trade position of selling the pair. For trading purposes it makes no difference whether the pair is rising or falling. Buying and selling are both executed the same with the click of a button and profits can be seen immediately as the pair moves in the direction of your trade.

100% Liquid Market

The Forex market is the largest market in the world and it is driven by banks and institutions as well as managed funds and individual investors. A currency represents and entire nation's economy and it is not possible to manipulate the value of a currency the way it sometimes happens in the stock market. Because banks throughout the world always have an exchange rate for currencies there is never a time when a Forex trade is not totally liquid. A Forex trader does not need to wait for a broker to locate a buyer because a trade is always immediately closed with the click of a mouse. Transactions are settled in cash that appears in the trading account immediately when the trade is closed.

What is the Risk?

Often we may hear that trading Forex is risky business. There are risks and expenses involved in any business. One of the benefits of starting a Forex trading business is that a trader can open a demo account and trade while learning the business without ever risking any real money. Only when the ability to trade profitably consistently over time has been demonstrated should a live account be opened. One of the most important aspects of learning to trade is using proper money management and risk management. Successful traders know how to identify trading opportunities and they know exactly how much to risk on a given trade. Win to loss ratios and risk to reward ratios are a part of trading just like knowing what products to stock are an important part of the retail business. If you hear of people who lost their trading capital while learning to trade you can be assured that they did not 1. learn to trade before opening a live account and 2. use proper money management and risk management.

How to Learn More about the Forex Trading Business

There are many sources of information on Forex trading available all over the internet. Unfortunately, very little of it is really effective in helping people to master the business of trading. Most of the information available is connected either directly or indirectly with the Forex Broker industry. And as many traders have discovered, the methods being promoted are often designed to benefit the brokers more than the trader. Is there any way to bypass the process of trial and error and really save time on the learning curve that is required in Forex trading? Entrepreneurs who have been successful in other businesses know the answer to this question. Find people who are already successful in the business of what you intend to do and do what they do. Mentors and mastermind groups provide the key to the fastest route to success. Just be aware that many "mentors" and training companies are connected with the broker industry as Introducing Brokers and they have a vested interest in teaching trading strategies that may not be in your best interest. For more information you may want to discuss the credibility of training programs with other traders in a trading discussion forum or at a trading club in your local area.

Scott Shubert is the founder of http://www.TradingMasterMind.com , a community of traders who share insights and results to contribute to the success of the entire community.

Article Source: http://EzineArticles.com/?expert=Scott_Shubert
http://EzineArticles.com/?Real-Estate-Investors-Discover-Forex-to-be-a-Better-Deal-During-Bubble&id=368079

Thursday, August 6, 2009

The Foreclosure Process for Real Estate Investors

Image by respres via Flickr

By Rick Halperin

Are you looking at foreclosures as a way to continue to build your real estate portfolio or to reposition equity? This article looks at the foreclosure process for real estate investors.

Changing market conditions and rising interest rates have pushed increasing numbers of property owners over the edge. Is their misfortune an opportunity for you? Based on the numerous seminars advertising to explain the foreclosure process for real estate investors, seminar promoters sure think so. Let’s explore where you can find some information on potential foreclosure properties on your own.

First, there are many search engines that can give you information on foreclosure properties and the foreclosure process for real estate investors. Once found, you can contact the property owners who have gotten too far behind on their mortgage payments and offer to buy their real estate. This will allow them to avoid foreclosure and the damage to their credit. In addition they could potentially receive some money in exchange for losing their property, which they would not were the bank to foreclose on the property.

Other sources are foreclosure auctions. Thousands of properties get auctioned off every week across the country. Many of these properties are sold for ridiculously low prices. To locate these auctions, check online, in newspapers, or simply ask a bank when their next scheduled auction will take place. But be advised, there is usually more competition at foreclosure auctions than there is when buying pre-foreclosures.

An REO is real estate owned by the bank. An REO is different from a foreclosure property in that the bank has already tried to sell it at a foreclosure auction and has had no luck getting bids. Because the property was not bid on, the bank then became the owner of the property. Naturally, the bank does not want to keep the REO any longer than possible, and this makes it a great opportunity for an investor. In buying an REO, you have distinct advantages that you do not when buying a foreclosure property. You are able to buy on your own schedule; you can make an offer on the home any time, you don’t have to wait for bidding to begin; and you can inspect it before you buy.

However, just because the bank owns a property does not make it a good deal. In fact, when you see that a home or property is an REO you have to wonder exactly what is wrong with it. So invest with caution.

The http://www.gotexit.net foreclosure process for real estate investors must be done with caution. But, investing in foreclosure properties has interesting potential for being an appropriate strategy for growing your real estate portfolio, or for repositioning the equity from other properties.

Article Source: Rick Halperin
The Foreclosure Process for Real Estate Investors

Sunday, August 16, 2009

Saturday, August 15, 2009

Friday, August 14, 2009

1. What is a Short Sale?

2. Why would a lender accept less?

3. What is required?

4. How long does a typical deal take?

5. How much does it cost?

6. How long until I can buy another house?

7. What qualifies as a hardship?

8. Can I short sell an investment property or 2nd home?

9. What about my credit score?

10. Who can do a short sale for me?

Thursday, August 13, 2009

Wednesday, August 12, 2009

Make Money with Real Estate Starting from Where You Are

7 tips to make lots of money with real estate

Start From Where You Are

What To Do First - Start Saving

What To Do Next

Don't Ever Sell

Pyramiding Your Investment

The Power Of Compounding And Pyramiding

What you do the next year is buy another property.

Living Off Your Empire

Related Pages

Monday, August 10, 2009

Sell Your Real Estate Notes

Get Top Dollar When You Sell Real Estate Notes

Sunday, August 9, 2009

Friday, August 7, 2009

Accelerated Wealth Through Forex Trading

No "Down" or "Bear" Market in Forex

100% Liquid Market

What is the Risk?

How to Learn More about the Forex Trading Business

Thursday, August 6, 2009