Finding the Right Pieces to Solve the Puzzle
Posted by: Bryan Benson Posted on: April 1, 2008
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We noticed a number of our customers bought more than one timeshare at auction. A few of our customers told us about their creative ownership methods and use. They are very creative ideas on building and effectively using a timeshare portfolio. There is a simple idea to most of these portfolios: Travel to the nicest places they could find as inexpensively as possible.
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It is far from the truth that real estate investing is only for certain people. Anyone can learn in a few simple steps how to find a home, make a few home improvements, and re-post it the same month for a substantial profit. The true problem in this lies in the startup, where do you get the money, and how do you know what a good buy is The answers are in what kind of person you are.
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Often, when your lender scrutinizes your loan application, and it is turned down for one reason or another, it is very distressing and discouraging. If this happens, you need to understand just why the decision was taken, and do what is necessary to remedy the situation. The causes for rejection listed below will help you understand why mortgage applications are declined.
Secrets To Buying A Foreclosure Home
Hundreds of people in the U.S. are buying foreclosure homes every week. You might have read about them online, in newspapers or magazines. Yes, it's entirely possible to buy foreclosed homes and it's not hard to learn how. What is a foreclosed property In simple terms, it's when the owners haven't kept up with their mortgage payments and the bank forecloses on them (takes away their property).
Say you have a lease-purchase option on a property and a tenant-buyer in it. The tenant-buyer is wanting to purchase this in about three months; and now all of sudden you are having difficulties finding a closing attorney who will close this loan for you without the initial security being in your name.
My question (and the question of the day) to you is: Why aren't you getting the deed That is right. Why don't you just get the deeds instead of doing a lease-option
I know what you are going to say. The current owner doesn't want to give you the deed. Well my friend, then it looks like you need an attorney. You just need to get an attorney and get an attorney that will ramrod the deal and you just take the difference between what you're buying it for and what you're selling it for, just show it on the HUD One as a second mortgage payoff to you.
Now after you do this you realize that your seller is going to wind up deeding it to your buyer
If your seller is okay with this, then you are in business, but your closing attorney is the one who may have some issues. If that happens you have only one solution-get another attorney!
In reality, you don’t actually need an attorney. A title company can do this action for you (and you might be better off).
It really boils down to getting the right people to work for you. Getting the right people on your team (from the very beginning) will make your life go much easier. All transactions will be smoother, and you won’t have any surprises with people along the way. Think of it as a support system. Think of it as networking. Wouldn’t it be nice to always have the right person to contact for any given situation That is what networking is, and that will help you achieve your goals. Having people from your city, investors, contacts, attorneys, appraisers all on your side would be a dream come true. It is also an easy to achieve reality that you need to put in place so you are not alone in your endeavors.
About the Author
When it comes to real estate investing, I highly recommend information from Ron LeGrand . For valuable information regarding investing in homes visit RonLeGrand.com. You can also find useful investor resources in the free newsletter at MillionaireMakerNewsletter.com
Source: Real Estate Articles on ArticlesTree.com
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Say you have a lease-purchase option on a property and a tenant-buyer in it. The tenant-buyer is wanting to purchase this in about three months; and now all of sudden you are having difficulties finding a closing attorney who will close this loan for you without the initial security being in your name.
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