Angella's Real Estate Secrets & Insider Tips For Real Estate Investors

Mortgage Help for Unemployed – Home Affordable Unemployment Program (HAUP)

Starting July 1, homeowners can apply for assistance from the Home Affordable Unemployment Program (HAUP).
Mortgage Help for Unemployed, or HAUP, provides homeowners a forbearance of monthly mortgage payments, either reducing them or suspending them for at least three months.   Servicers can extend the timeline depending on regulatory guidelines.
In June, the unemployment rate edged [...]

VA Vendee Program Contact Info

Click HERE to download the VA Vendee Program Flyer.  See the previous two posts for all of the additional info (and people’s experiences) you might need.
The website to look at property selection is VA.REOTrans.com
Here’s a direct line to my Loan Officer – she has been very helpful:
Samye Carter
Mortgage Loan Officer
Purchase Division
800-850-7655 Ext 1562135
Fax 866-373-9498
samye.carter@bankofamerica.com
[...]

VA Vendee Program Facts

VA Vendee Program Facts & Info:
VA Vendee Financing Program offers 5% down financing for Real Estate Investors, and is now administered by the Bank of America.  It used to be called the VA Repo, or OCWEN program.
Click here to download a VA Vendee Financing Program flyer.
If you have access to the MLS, search for “veteran” [...]

VA Vendee Program Offers 5% Down Financing For Investors

VA Vendee Program Info & Questions:
VA Vendee Financing Program offers 5% down financing for Real Estate Investors, and is now administered by the Bank of America.  It used to be called the VA Repo, or OCWEN program.
I’m in the middle of qualifying for a VA Vendee Financing Program, AKA Veterans Administration Vendee Financing Program.   I [...]

For Landlords – Tips on Setting Rent & Drawing Up Lease

Tips on Setting Rent & Drawing Up Lease – Cover all bases when extending tenant’s lease
Q: Almost two years ago I bought a condominium unit in my area as an investment. My tenant has been pretty good about paying the rent and has not caused any problems. Her one-year lease is going to expire in [...]

For Landlords – Set Subtenancy Rules Upfront

Set Subtenancy Rules Upfront
Q: I rent a three-bedroom house to my tenants, a couple. A while ago, they asked if they could sublet two of the bedrooms, and assured me that they would carefully choose the tenants. The subtenants are fine — but I’ve just learned that they are paying quite a bit of rent [...]

For Landlords – When Renters Become Buyers

When renters become buyers
Q: We’ve been renting a single-family home that we would like to purchase if the owner decides to sell. Our lease is up for renewal. Can we use a lease clause to put us in the best position to purchase if the property goes on the market? –Brad H.
A: Like you, lots [...]

For Landlords – Can Landlords Go After Lease Guarantors?

Can Landlords Go After Lease Guarantors?
Q: My aunt and uncle agreed to sign as guarantors when my wife and I signed our lease last year. When the lease ended, we stayed on, paying rent but without signing a new lease. After a few months, the landlord and we crossed out the beginning and ending dates [...]

FREE Anti-Virus and Malware Programs That Worked For Me!

FREE Anti-Virus and Malware Programs That Worked For Me!
These are the  FREE anti-virus and malware detection programs that finally worked in fixing my laptop, which had all kinds of “hijack” viruses on it, & wouldn’t allow me to connect to IE.

http://free.antivirus.com/clean-up-tools/ (download/run periodically all of the programs – each has a different function)
spybot search & [...]

For Landlords – What Happens After the Lease Expires?

What Happens After the Lease Expires?
Q: I live in a townhouse and had a lease for the first year. When it expired two years ago, I simply stayed here and continued to pay the rent, as a month-to-month tenant. Management is now demanding that I sign a yearlong lease, and if I refuse, I’ll have [...]

For Landlords – Who Pays For Tenant Ordered Home Improvements

Who Pays For Tenant Ordered Home Improvements
Q: We rent a single-family house to tenants who have been there for several years. We gave them permission to build a new backyard fence and do some landscaping; they agreed to pay for it. The work was done and finished a month ago, and now we’ve received a [...]

How To Develop a Marketing Plan For a Business

Develop a Marketing Plan For Any Business!

Powerful marketing requires a detailed plan that spells out your campaign’s objectives, methodology and expected results. To create an effective marketing plan, address these important elements:
Set your objectives -
The first step is to clearly state what you plan to accomplish. Are you looking to build brand awareness or name [...]

For Landlords – Renting To College Students

College renters stay year-round – Landlord unsure of deposit protocol
Q: I have a rental home located near a college and have successfully rented to students over the past few years. Typically, all of my student tenants move out when the school year ends.
This year, my current tenants are divided in their desire to stay or [...]

For Landlords – Does Grace Period Exist For Payment of Rent?

Does grace period exist for payment of rent?
Question: Our lease agreement states that rent is due on the “last day of the month.” Unfortunately, my husband does not get paid until the first of the month, at which time we do pay our rent immediately on the 1st. The landlord is claiming that he “must” [...]

For Landlords – Charging Tenants for Countertop Stains

Can landlord deduct half of replacement cost from deposit?
Q: My tenants recently moved out after living in my rental house for five years. I found out that they ruined my kitchen’s granite countertops due to oil stains that cannot be removed. Can I deduct 50 percent of my replacemeefundnt cost from their security deposit?
A: Typically [...]

Recoup Deposit When Short Sale Goes REO

Recoup Deposit When Short Sale Goes REO – Short Sale Hindsight
Q: I sent a short-sale contract termination notice to the seller’s attorney because the home was sold as a sheriff’s foreclosure and is now listed as an REO. The listing agent will not return my earnest money deposit unless the seller signs the cancellation rider. [...]

The Price Of a Good Handyman?

THE PRICE OF A GOOD HANDYMAN?

How much per hour is a good handyman worth? For example, how much would YOU pay per hour to have rooms in a rental painted? Check out how low and how high some landlords are currently paying (you’d be surprised) – http://dld.bz/f6Yx

Senate Votes to Block Lead-Based Paint Rule Fines

Senate Votes to Block Lead-Based Paint Rule Fines – New lead-based paint laws for landlords
The U.S. Senate has voted to delay imposition of fines and liability related to the controversial new federal lead rule, and one senator has called for a hearing on the measure.
The move to delay the rule came May 26 in an [...]

What Is an All Inclusive Trust Deed (AITD)?

What Is an All Inclusive Trust Deed (AITD) or a Wrap Around Mortgage?  See a write-up below from Patrick McGurk

PROTECTING TENANTS AT FORECLOSURE ACT of 2009

PROTECTING TENANTS AT FORECLOSURE ACT of 2009 -This is the text from the newly passed federal law protecting tenants who are dealing with landlord foreclosure.
TITLE VII–PROTECTING TENANTS AT FORECLOSURE ACT of 2009
SEC. 701. SHORT TITLE.
This title may be cited as the `Protecting Tenants at Foreclosure Act of 2009′.
SEC. 702. EFFECT OF FORECLOSURE ON PREEXISTING TENANCY.
(a) [...]

RRP RULE AND NEW LEAD-SAFE PRACTICES REQUIREMENT AFFECTING LANDLORDS BEGINNING APRIL 22, 2010

RRP RULE AND NEW LEAD-SAFE PRACTICES REQUIREMENT:

The EPA has issued a Renovation, Repair and Paint rule (RRP) requiring the use of lead-safe practices and other actions aimed at preventing lead poisoning. Under the rule, beginning April 22, 2010, landlords and contractors performing renovation, repair and painting projects that disturb lead-based [...]

South Lake Tahoe Ski Lodge For Sale – REO – $1.5M

South Lake Tahoe Ski Lodge For Sale – REO – $1.5M:
REO South Lake Tahoe Ski lodge  – under contract!  We have this property under contract, and if we don’t sell it in the next few weeks – we’re going to purchase it ourselves.   For now, we’re willing to assign the contract.  Links with additional information [...]

New CAR Purchase Agreement – Seller Statement of Information Requirement

New  CAR Purchase Agreement Requirement:
On April 28th 2010 the New CAR Purchase Agreement will take effect.  One of the new requirements from the seller is that a completed Seller Statement of Information must be submitted within 7 days of acceptance.  This is good news for anyone that does not like suprises at [...]

Real Estate Investment Club (REIC) List for California, US, and Canada

Real Estate Investment Club  list (REIC) below starts off with local SoCal meetings, followed by longer REIC lists below are or California, US, and Canada.   For a complete list of  US and Canada REIC club meetings, click here:
My favorite Los Angeles, Orange County, and San Diego Real Estate Investment Clubs:

www.nakedladyrealestate.com
www.investing-in-real-estate-clubs.com/events/location-upcoming-events.html
www.realestateclubla.com
www.ocreforum.com
www.irca-losangeles.com
www.sdcia.com Blog: http://www.sdcia.com/billtanblog.html
www.reinclub.com
www.socalCIA.com
www.thenorrisgroup.com/San-Diego.html
www.REIclub.com
www.creonline.com
www.nreionline.com

California REIC Clubs:

New Real [...]

Freddie Mac Bulk REO Sales

Here’s a reprint of a LinkedIn post about Freddie Mac Bulk REO sales misrepresentation from one of the bulk buyers.  I can’t recall who posted this, and I forgot to copy the name, so if the author reads this, please give yourself credit in the comments:
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I don’t know how I got this hat, but I [...]

$10,000 California First Time Home Buyer Tax Credit – Starts May 1, 2010

$10,000 CaliforniaFirst Time Home Buyer Tax Credit – Starts May 1, 2010
Assembly Bill 183, The Home Buyer Tax Credit – Keep in mind, folks, that this is a California First Time home buyer tax credit, not a Federal first time home buyer tax credit that expires at the end of April, 2010.   The CA [...]

Home Affordable Foreclosure Alternatives Program (HAFA): Overview

The Home Affordable Foreclosure Alternatives Program (HAFA) provides additional options to avoid costly foreclosures and offers incentives to borrowers, servicers and investors who utilize a short sale or deed-in-lieu (DIL) to avoid foreclosures. HAFA alternatives are available to all HAMP-eligible borrowers who: 1) do not qualify for a Trial Period Plan; 2) do not successfully [...]

Bank of America to Forgive Some Mortgage Debt

Bank of America to Forgive Some Mortgage Debt – Good for some, but what about those who already did a loan mod, or are not upside down?  Do they get a break,too?   I think not!  By the way, I heard the principal reduction is by up to 30%.
Angella
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Amid mounting [...]

Government Tries New Fix For Mortgage Crisis – It’s Not Going To Work!

Government involvement in improving our economy didn’t work before, and it’s not going to work now.  All they are doing is wasting Billions of dollars of  taxpayers’ money on silly programs that will end up helping a few thousand homeowners.   I’d rather they take those billions and invest them into VA hospitals and rehab facilities.   At [...]

What Do Landlords Consider Normal Wear And Tear?

What Do Landlords Consider Normal Wear And Tear? It depends on the landlord, and everyone has a different approach.   Personally, I charge my tenants for anything that is in worse shape than when they moved in.  Of course, the carpets will get older,but they better not get dirtier, as in “spots” and “stains”!  Same thing [...]

Government & Bank REO Websites

Here are some government and bank REO websites:
http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp
http://www.bankrepobustours.com/BankREOs.php – this is my other website.
Enjoy,
Angella

Home Price Decline Slows, But More Drops May Be Ahead

Home Price Decline Slows, but they still predict an average nationwide home price decline of 5%.  However,  some of the SoCal areas that are the best for investors have already bottomed out last year, and will not go any lower.  Regardless, this is a great time to buy, so make sure you don’t miss the [...]

ENOUGH ALREADY!!! New $1.5B Obama Foreclosure Prevention Program To Save A Few Select?

The new Obama Foreclosure Prevention Program is supposed to save a small number of homes, in five hardest hit states,  from going into a foreclosure?  How many homes?  At $100,000 per family, the plan is only going to help 15,000 families.   Why are we stretching this out?  Just let the economy recover on it’s own, [...]

Loan Mortgage Modifications More Successful Lately

Loan Mortgage Modifications More Successful Lately -
As of last month, Bank of America Corp. had completed loan mortgage modifications for just over 5 percent of the roughly 240,000 borrowers who started the process. JPMorgan Chase & Co. and Citigroup Inc. were also below 10 percent.
The government “massively overestimated the ability of the mortgage industry to [...]

30-Minute Conversations to Real Estate Success

30-Minute Conversations to Real Estate Success – Another great article for beginner real estate investors.  Enjoy!  Angella
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You’ve probably heard that one of the fastest ways to get what you want is to surround yourself with people who already have it.
I’m a firm believer in this, and frankly its something I’m still working to do more [...]

Foreclosures down in January 2010, but surge on way?

Foreclosures down in January, but expect a surge later this year, especially after the First-Time Home Buyer Tax Credit expires in April.
Among states, Nevada posted the nation’s highest foreclosure rate, followed by Arizona, California, Florida and Utah. Rounding out the top 10 were Idaho, Michigan, Illinois, Oregon and Georgia.
The metro area with [...]

Wholesaling Real Estate 101 – Step by Step

Here’s a great step-by-step article about Wholesaling Real Estate.    Click here for the link if you want to see the original article.
Enjoy,
Angella
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Step #1: Market for a Motivated Seller
Behind every great real estate deal is a motivated seller, and your job as a wholesaler is to get your marketing message in front of as many of [...]

Top Foreclosure Cities: 2009’s 20 Worst-Hit Cities

Top Foreclosure Cities
Duuuuh…   Of course there’s a drop in the foreclosure filings – banks had a foreclosure moratorium over the holidays!
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Foreclosure plague: 2009’s 20 worst-hit cities

By Les Christie, staff writer , On Thursday January 28, 2010, 5:55 am EST
Cities in the so-called Sand States dominated the foreclosure rankings in 2009, with the 20 worst-hit [...]

Protecting Tenants at Foreclosure Act of 2009

Protecting Tenants at Foreclosure Act came into effect in May 2009, provides protection for tenants, including tenants in housing subsidized by Section 8, who are living in homes subject to foreclosure.

Highlights: Under the Protecting Tenants at Foreclosure Act:

All tenants must receive a 90-day notice before being evicted as the result of a [...]

Areas To Invest: High-Speed Rail Through Palmdale, Ca

We’ve been talking about the Antelope Valley area (Lancaster/Palmdale – click HERE) being one of the best ones to invest in SoCal, and below is another reason to add why many of us have been investing in that area for years.
The plans for the high-speed rail network will create over 200,000 new jobs between Bakersfield, [...]

Piggyback Mortgage Plan – Release of 2nd Liens

‘Piggyback’ Mortgage Plan – will it work?
This article covers it all – Lenders who deserve what they got (for allowing ANYONE to take out a 2nd loan and trying to avoid the PMI); critics who claim it’s unfair to people who are still paying their mortgages on time and a bailout for banks that made [...]

California Default Notices Fall 24% in 4Q

California default notices have fallen because the banks do not want to foreclose, even though lots of homeowners are still defaulting.   These numbers definitely do not mean that the RE market is recovering.  See article and comments below:
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By ELLIOT SPAGAT, AP Business Writer Elliot Spagat, Ap Business [...]

Top 10 Commercial Real Estate Experts on Twitter

From my friend’s Megan McGinnis’ blog (http://MeganMcGinnis)  – thanks for compiling the list Megan!  Follow these Commercial Real Estate Experts on Twitter and learn from them…
1. Duncan C. Wierman | ( DuncanWierman on Twitter )  — Software CEO turned Real Estate Investor / Marketer. I show you how to use creative online marketing methods to [...]

FHA Wavies 90 Days Seasoning For One Year

FHA 90-Day Anti-Flipping Rule Waived For One Year – In an effort to stimulate home sales, HUD has announced that as of February 1st it will suspend its 90-day anti-flipping rule. This should have the effect of making FHA loans more easy to obtain for recently refurbished homes.
With certain exceptions, says HUD, “the FHA currently [...]

The Future Of Short Sales – Video

The Future Of Short Sales

Reasons to Prevent a Foreclosure – Video

Reasons to Prevent a Foreclosure

10-Day Short Sale Time Limit May Spur Housing Market

Short Sales – New U.S. Treasury guidelines that put a 10-day time limit on short sales, and add financial incentives for buyers and sellers could help homeowners on the verge of foreclosure.
Homeowners stuck while banks mull whether to approve short sales could benefit from new federal guidelines that give lenders a 10-day limit to respond [...]

Effect of Foreclosures vs. Short Sales on Credit

Effect of Foreclosures vs. Short Sales on Credit

To Stop Foreclosure Or To Let The House Go? Your Options!

To Stop Foreclosure Or To Proceed? Your Options!
Here’s a good series of videos recorded by Ed, on your options if your property is upside down.

Top 10 Real Estate Trainers on Twitter

Top 10 Real Estate Trainers on Twitter – A great post borrowed from Megan McGinnis @ http://Megan-McGinnis.com:
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1. Peter Olsen | ( PeteOlsen on Twitter )
At Rent To Own Homes, LLC. we are looking for homes in all 50 states that we can rent to own!
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2. Joe Manausa | ( HousingReporter on Twitter )
Tallahassee Real Estate [...]

Hate it!!! Home Foreclosure Moratorium For the Holidays

Home Foreclosure Moratorium Over the Holidays again – so when is someone going to give me a moratorium on my mortgage payments?
“Some lenders have declared limited foreclosure moratoriums this year to give troubled borrowers time to catch up on their payments or work out other solutions. Those announcements continued Thursday: Mortgage titans Fannie Mae and [...]

Real Estate Investing – Areas to Buy In (2 of 2)

Real Estate Investing – What are the areas with the highest population and job growth in SoCal?    I’ve pasted the excerpts from the SCAG reports below, but to summarize  the results it’s the Antelope Valley (Palmdale/Lancaster) with a 168% population growth, and West Riverside County, with an 86% growth.
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North LA County Subregion (Antelope Valley) (pg [...]

Real Estate Investing – Areas to Buy (1 of 2)

Real Estate Investing can be tricky and confusing, especially for beginners.   So you’ve decided it’s time to start investing in Real Estate, since this truly is the “once in a lifetime opportunity” everyone is talking about, but don’t know which areas are the best to invest in?
Each locality has a Planning and Development organization, [...]

Home Affordable Modification Program (HAMP) Update

Home Affordable Modification Program (HAMP) Update – I missed this HAMP update yesterday. Although the changes are not all that relevant to most loan originators, struggling homeowners should take note.
From the release:
Critical Home Affordable Modification Program Waiver Granted to Participating Servicers
Effective today, a new critical Home Affordable Modification Program (HAMP) Waiver is granted to [...]

Free Real Estate Legal Forms

Free real estate legal forms are not something you can use every time you need one, since each state has their own format and legal verbage.   But if you are looking for free legal forms to use as a reference, this is a great website to find them: http://lectlaw.com/formb.htm
I use this website to find [...]

What Does Buying an “As Is” Home Really Mean??

Buying an “As Is” Home article is correct regarding all of the points made, but it did omit one important item – there’s nothing wrong with asking for a price reduction, or cashback towards repairs, after the inspection has been completed.
When representing Buyers, even on a bank repo clearly listed as an “As Is” house, we [...]

Mortgage Loan Limits for Conventional, FHA and VA

The mortgage loan limits and policies established in 2008 and 2009 will continue through 2010.
There are several types of mortgage loan limits. Generally, most borrowers need to look at conventional, FHA and VA loan limits to see how much can be financed with the most-widely originated loans.
If you borrow at or below the conventional mortgage [...]

The Real Reason So Many Home Loan Modifications Fail

This guy is so right, it’s not even funny!  Enough with wasting our tax payer’s money and dumping good money after the bad!!!!!!!!!!!!!!!!!!
Loan Modifications, or rather the majority of them, fail.  That’s the simple truth.  Want to know why?  Take a look at the article ( click here for a link).
If you are in the [...]

Housing Slump May Worsen Next Year, Not Get Better

Housing slump worsening is actually pretty good news for the real estate investors.   With the way this recession has been going, it’s been hard to make heads or tails of anything.   Rather than letting the economy take its natural predictable course, the government interference and all of the programs they’re coming up are delaying the inevitable.  
The [...]

Commerical Real Estate News Update

Commerical Real Estate News Update – Not sure I agree about 2010 being the same as 2009, or that commercial RE is logjammed because of the debt problems.  I think it is going to decline through 2010, and the problem is not the national debt, but the fact that so many properties are upside down [...]

Home Buyer Tax Credit: 10 Things to Know

Home Buyer Tax Credit extension finally passed on November 6th, and I thought that the investors would finally get a break by receiving a $6500 tax credit when purchasing an owner-occupied property.  Unfortunately, that’s not the case.   I’ve rarely lived in one of the properties I own and, so mostly I rent because I move [...]

Hate It!!! Fannie Mae To Rent Out Homes Instead Of Foreclosing

Fannie Mae “Deed for Lease” program is not something I’m too excited about.   Yes, I tried getting it approved for a friend of mine when she was being foreclosed upon, but in general why should someone get a free ride?  With the new program, the rent amount cannot exceed 31% of homeowner’s monthly income, so [...]

Hate It !!! House Votes To Expand Homebuyer Tax Credit

Ok, so finally investors get a break and are able to benefit from the Home Buyer Tax Credit.  But once again, there’s a problem – the tax credit gets phased out for those who earn over $125,000/yr.    Why is it that those who fund the bailouts and these tax credits don’t get to benefit from [...]

FREE For RE Investors & Realtors – Daniel Pendley Event

Hello Investors & Realtors,
This is sooooooooooooo exciting!!!   A group of local RE Investors (myself, Ginger Macias, JJ San Jose, Megan McGinnis, Michael Brandt, Maynard Clarkson, etc) are involved in a project where one of the members personally knows Daniel Pendley!   Daniel Pendley is a world-renowned real estate trainer and motivational speaker, and usually packs [...]

Commerical Properties Needed – Criteria Below

Folks,
If anyone is aware of commercial properties that meet the criteria listed below, please let me know.  Thanks, Angella
Apartments:

75+ units
On-site management
Produce 10% cash on cash return based on Actuals, not ProForma
Class B & C props.
Located in A, B, or C location; no class D areas
Upside potential in rents or management
Pitched roofs
Individual meters
Assumable debt
No boilers
No [...]

Commercial Real Estate Prices Down 41% From The Peak

Commercial Real Estate prices have dropped, but they are still lagging behind the residential market, so we still have not hit the bottom.
The Moody’s/Commercial Property Price Indices fell 3 percent in August from July, bringing the market’s decline to almost 41 percent since its peak in October 2007, Moody’s Investors Service said in a statement [...]

Mortgage Loan Modification Basics

Mortgage loan modification process is not as simple as many assume.  Here’s a link to a good LA Times article explaining mortgage loan modification programs, and what it takes to qualify for them – http://articles.latimes.com/2009/mar/22/business/fi-cover22
Some of the main points covered are:

Most people will not qualify for a mortgage loan modification under any program, because [...]

Video – The Bankruptcy of Capmark and Its Impact on Commercial Real Estate

http://www.marcusmillichap.com/Video/fox_102609.asp

Tenant Screening – Things Tenants Won’t Tell You! (Part 5 of 5)

Tenant screening can sometimes be very time consuming if you do a thorough job of it, but it’s well worth your time if it prevents you from having to evict your renters in the future.   Don’t misunderstand me – most applicants I’ve encountered are great and honorable people, but sometimes you come across a bad apple [...]

Tenant Screening – How Messy Are They? (Part 4 of 5)

Tenant screening can be very time consuming if you do a thorough job of it, but it’s well worth your time if it prevents you from having to evict your renters in the future.   Don’t misunderstand me – most applicants I’ve encountered are great and honorable people, but sometimes you come across a bad apple that [...]

Tenant Screening – Lies About Employment & Salary! (Part 3 of 5)

Tenant screening can be very time consuming if you do a thorough job of it, but it’s well worth your time if it prevents you from having to evict your renters in the future.   Don’t misunderstand me – most applicants I’ve encountered are great and honorable people, but sometimes you come across a bad apple that [...]

Tenant Screening – Track Down the REAL Landlord! (Part 2 of 5)

Tenant screening can be very time consuming if you do a thorough job of it, but it’s well worth your time if it prevents you from having to evict your renters in the future.   Don’t misunderstand me – most applicants I’ve encountered are great and honorable people, but sometimes you come across a bad apple [...]

Tenant Screening – Don’t Let Them Lie To You! (Part 1 of 5)

Tenant Screening, and how it is done, will either make you or break you as a landlord.  Properly screening potential renters means solid tenants, and cashflow, throughout the years.   Not  doing a good job of screening applications could mean evictions, negative cashflow, and  damaged property to deal with.
For one thing, I never admit [...]

Landlord Tenant Relationship – “Hard-Nosed” Landlording: Keep Your Tenants In Line

Landlord tenant relationship can be difficult or easy – it’s totally up to you, the landlord.  One way to make it easy on yourself is to set expectations up front.  As I had mentioned in one of my comments, I manage my own single family homes and condos within a 400 mile radius.  Yes, you [...]

California Cracks Down on Mortgage Fraud

California now has new laws that are supposed to prevent homeowners and home buyers from mortgage fraud.
Legislation to increase protections for consumers in the lending market and provide law enforcement with more tools to crack down on deceitful mortgage practices was signed into law Sunday, October 11, 2009 by Gov. Arnold Schwarzenegger.
The bills are supposed [...]

Fight For Your Money! First Time Home Buyer Tax Credit Expires.

C.A.R., in cooperation with NAR, has issued a Call-for-Action in support of extending the First Time Home Buyer Tax Credit beyond its November 30th expiration date.
You can do two things to help:

If you are a Realtor, call your member of Congress to urge them to extend the First Time Home Buyer Tax Credit. Call 1-800-961-3302 [...]

Loan Modification Scams – No More!

Loan Modification Law Enacted –   On October 11, 2009 Governor Schwarzenegger signed Senate Bill 94 (Calderon), and the legislation took effect immediately upon his signature. Thus, California law now prohibits any person, including real estate licensees and attorneys, from demanding or collecting an advance fee from a consumer for loan modification or mortgage [...]

Buyers of Foreclosed Homes to Pick Their Own Title / Escrow Company

Buyers of foreclosed homes can now choose a title or escrow company of their own choosing.   How does that benefit us, the investors?  For one thing, we can start using our own title companies, and start giving them additional business in exchange for providing us with all those property profiles.   REO flippers can now select [...]

Commercial Property Types – Which Ones Meet YOUR Needs?

It is important to choose the type of commercial property, or type, that best matches your particular needs and interests.    The list below describes advantages and disadvantages of the various types of commercial investments:
1) Apartment Building Investments: These are the most popular asset types and will be used to familiarize you with all the key skills you need to know [...]

First Time Real Estate Investors – Getting Over Your Fear

One of the biggest obstacles beginner real estate investors have to overcome is FEAR.    Below are some ideas to help you overcome it.   After the first few deals, buying and selling real estate becomes almost like buying a pair of shoes.    You walk by, you see it, you like it, you analyze it, and you [...]

Commercial Property Investment Advantages – No Clogged Up Toilets!

Commercial property investing is one way to participate in the game of real estate.  Investing in commercial real estate has some advantages to consider that SFR investors don’t necessarily benefit from.   Some of these advantages are:

Increased Cash Flow: If you are heavily leveraged and your rental home doesn’t have a tenant, you won’t have [...]

Commercial Property Investing – Is this a good time?

Commercial property investing is a little more complicated than SFR investing, but the profits and the rewards are also much greater.  Many people are concerned that now, during the recession, might not be a good time to invest in commercial property,  expecting additional price drops in the commercial real estate market. However, even though we [...]

Hate It !!! Government Is Wasting More of Our $$$ on Short Sales

Short sale bail out – See below for the new Short Sale program, but as far as I’m concerned – Why can’t the government stay out of private business?  If borrowers can’t pay, evict them!  I don’t want my tax money to go to people who lied on their apps and bought homes they [...]

Foreclosure Home Inventory Shortage

Foreclosure home inventory has dropped drastically in the last few months.  Those of us who are continuously making offers on properties will tell you that within hours there are multiple offers on every REO that pops up as a foreclosure listing in the MLS.   The selling price ends up being much higher than the listing [...]