PORT CHARLOTTE, FL - Willow Tufano became a real estate investor this year, at the tender age of 14. She partnered up with her Realtor mother Shannon and the two purchased a short sale in January 2012 for $12,000. They split the cost to purchase the property and the renovations. Once completed, they leased it out. In October 2012, they purchased a second property together for $17,500 with the same funding arrangement. Although they don't live in Port Charlotte, FL, they invest there because, … [Read more...]
Don’t Get in Trouble Flopping a Short Sale
August 1, 2012 By Leave a Comment
Don’t Get in Trouble Flopping a Short Sale With the declining number of REO foreclosures on the market right now, many investors and wholesalers are having success acquiring properties through short sales. However, dealing with REO foreclosures and short sales can be two very different animals. While buying and selling an REO is typically straight forward, the laws surrounding the reselling of a short sale are quite different.For those new to real estate: a short sale is a real estate … [Read more...]
Using High Interest Private Financing is Still Better Than Cash
May 16, 2012 By Leave a Comment
Using High Interest Private Financing is Still Better Than CashWith investors battling a tight credit market, the opportunity to obtain financing for investment properties can often times prove more difficult than expected for some investors. Five years ago many of these same investors had no problem walking into their local lender’s office and getting approved for a loan. Nowadays, it seems like underwriters need a blood sample to approve a loan for an investor (even when that investor could … [Read more...]
Commercial Short Sale Boot Camp!
April 13, 2012 By Leave a Comment
Commercial Short Sale Boot Camp! You have to work hard to get the short sale process approved and to get through the process. Here’s how a commercial short sale works.A short sale is basically selling a property at the current market rate without adding in the debt owed to the owner or lender. This sale has to be approved by the mortgage holder in order to make the transaction happen, so that’s where the work starts.The ProcessThe first step to beginning a short sale is to get a market … [Read more...]
Creating Your Own Bank for Seller Financing For Quicker Returns
April 5, 2012 By Leave a Comment
Creating Your Own Bank for Seller Financing For Quicker ReturnsFor many real estate investors offering the option of seller financing is attractive if you want to get a property sold, but there could be one tiny hiccup! You may not have immediate returns on your cash to do your next investment deal especially if you’re an active investor looking to wholesale properties or do fix and flips. Here is a fairly simple and very real solution in today’s market that most investors overlook. … [Read more...]
Seller Financing: How Investors Can Get Involved
February 15, 2012 By Leave a Comment
Seller Financing: How Investors Can Get InvolvedThe housing market is flooded with inventory, which reduces demand for any given house. And mortgage approval rates are down, making it tough for buyers to get financing.Sounds like a rotten situation for sellers and buyers. But not necessarily. Despite these difficulties, it’s possible to get creative with financing – seller financing, that is.Seller financing is simply the seller offering to finance the buyer’s loan. It’s kind of like a … [Read more...]
The Use of Private Money
December 23, 2011 By Leave a Comment
The use of private money is nothing new. Many investors have used it in the past and have called it very different things. Hard Money, Private Loans, Family Loans, Partner Money, Investor Pools, Money Partners, Private Equity, heck even Loan Sharks (jokingly)- are all names and sources of private money that can be used for [...]Private Money – Use It To Fund Deals is a post from: Real Estate Investing Blog For Real Estate Investors.Read the full post here... … [Read more...]
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Holding a Full-Time Job
As an investor who holds a full-time job, I feel compelled to share the reason I have been successful over the last 10 years.It all boils down to one word: “Sacrifice.”I believe that one word holds the key to success for investors who work full-time and chose to be active real estate investors.Let’s define Sacrifice as the simple act of giving up something for the sake of doing something else. For example, I give up eating desserts, which I love, because I want to lose some weight. I … [Read more...]