Posts Tagged ‘real estate’

Why Buying and Holding Isn’t The Same Anymore…

Jan 21st, 10 / 2 Comments

Guest article written By: Sean Carpenter

Are you finding deals are getting tougher to close with the new restrictions banks are pushing on applicants?

Is it taking longer to get a deal done? Have you stopped looking for new projects to acquire?

The last year has been a very difficult period in real estate history. Some markets have declined upwards of 50% in value with no light at the end of the tunnel. Not very good news if you started your “buy and hold” in 2007, but will certainly work better for you now in 2010 as you pick properties up for a fraction of their price two years ago.

Not to mention cap rates are heading into the two digits in larger metropolitan areas. For some, this is an area of the market they have never experienced.

So what can we do to get some of these declining assets?

The banks that were lending up to 125% a few years back have either left the market or cap an acquisition at 70% loan to value. The remaining 30% is up to the investor. But raising the 30% slows down transactions and your friends in Congress have attempted to help.

In July 2008, the President signed the Housing & Economic Recovery Act (HERA), which among other things, provided $4.5B to all 50 states, some territories like Puerto Rico and the Virgin Islands, and the District of Columbia, to combat neighborhood declination by foreclosure.

These funds, known as the Neighborhood Stabilization program, were supposed to help investors, both for and non-profits, buy and rehabilitate foreclosed buildings in order to prevent the stable households from losing too much value. In February 2009, Congress added an additional $4.5B to the program, now known as NSP II, to further carry out the NSP mission.

This is nothing new. The federal government has been investing in real estate for years, at least since HUD was conceived during the Johnson administration in 1965 as part of the Great Society initiative.

HUD allocates through the individual States and territories upwards of $20B per year to facilitate economic development and housing activities. Additionally, many states have programs of their own that can match federal funds in addition to over $5B in tax credit programs available to stimulate acquisition, rehabilitation and new construction of real estate projects.

Buying and holding certainly isn’t what it used to be, but now the government wants to help you out more than ever. You just have to know WHERE to find the money and HOW to get the funds.
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Sean Carpenter is the nation’s leading expert on Government Deal Funding for Real Estate Investors and Developers and has spent the last 12 years both consulting and getting funding for his own deals. I’ll be hosting a special interview with Sean coming up on Wednesday, February 24th, 9:00 PM EST. Find out more and pre-register for the call by entering your name and e-mail address below:

UPDATE: Since this webinar was a few weeks ago, if you register below, I will send you the encore webinar information as soon as you confirm your e-mail address.

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Disclosure: If you click on a link on this website, you may be using an affiliate link. This means I may be compensated if you purchase something from the company on the other end of the link.

Disclaimer: This is not legal advice or even financial advice. The opinions and information here are written to entertain and inform you of my experiences from Real Estate Investing. I can’t possibly know your financial situation or whether you will have the ability, motivation or determination to put forth the effort that is required to put a system or idea in motion to profit from it.

Before embarking on any business venture, you should consult with your financial advisor, accountant, lawyer and other professionals to help you determine if it is a worthwhile venture and to discuss the risks. I make no claims about how much money YOU will make with any of the information shared here on this site or any other website or e-mail that I may send you.

As in ANY business, your results will vary based on your own knowledge, determination, motivation and financial resources available to you.
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Online Marketing For Real Estate Investors

Jan 18th, 10 / 0 Comments

If you are looking for the LATEST in online and offline marketing ideas for your business, you should sign-up for my newsletter.

When you do, I will also send you a 100 Page E-book titled “Beginners Guide to Internet Marketing”. While it is not Real Estate Industry specific, it will give you a great overview of how to use the Internet to market your business.

It is geared more for someone that wants to start making money online, but the concepts translate very well to Real Estate or any business that is not getting enough traffic from their online efforts.

So, sign up below and I will rush that 100 Page E-Book over to you…It’s free, at least check it out.

If you want to be kept updated on the latest marketing trends…

We respect your email privacy


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Sign Up Now For My 2010 Investor Webinar Series

Dec 10th, 09 / 5 Comments

I am planning a webinar series and already have several top notch Real Estate investors lined up.
However, the schedule is not set yet.
Sign up for the webinar series by entering your name and primary e-mail address (So that I can notify you of the webinars).

If you are among the first 50 people to sign up, YOU are going to get to help me shape the seminar series with the topics YOU want to hear about.

Do you have a certain burning question you need answered?
Would you like the opportunity to grab the ear of some of the BEST investors in their particular field?
This is your opportunity. I have been building this series up for several months.
I’m getting ready to set the schedule.

Get on the list and let me know what you are looking for.

Here are some examples of things I’m thinking about.

1) Funding
2) Marketing – For buyers and sellers
3) How to super charge your retirement accounts
4) How to save on taxes
5) How to select a contractor
6) Commercial Investing
7) Loan Modifications
8) Short Sales
9) Wholesaling
10) Wholetailing (A little different from Wholesaling)
11) Selling on land contract
12) Dealing with distressed homeowners
13) Buying REO properties
14) Bulk packages of REO or Notes
15) Note Buying
16) Land Contracts
17) Self Storage
18) Government grants/loans

The above is just a start. I want to hear from you.
If you tell me what you want, I will schedule accordingly.

Let me know.
Sign up for the series by entering your name and e-mail address above.
I will send you a copy of Think and Grow Rich and give you access to the most recent webinar I have available.

Thanks for stopping by.

Marshall

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Disclaimer: This is not legal advice or even financial advice. The opinions and information here are written to entertain and help educate you with my knowledge and experience from Real Estate Investing. As always, before embarking on any business venture, you should consult with your financial advisor, accountant, lawyer and other professionals to help you determine if it is a worthwhile venture and to discuss the risks. I make no claims about how much money YOU will make with any of my information. As in ANY business, your results will vary based on your own knowledge, determination, motivation and financial resources available to you.
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Short Sale Real Estate Investing Basics

Oct 29th, 09 / 6 Comments

These are some basics on short sale investing that I put together because people keep asking me what a short sale is. Once they understand what it is, they want to know how best to go about working on a short sale home and how to determine if a home is even a candidate for a short sale. So, I decided to put together a list of things you will need if you are getting into negotiating short sales.
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Disclaimer: This is not legal advice or even financial advice. The opinions and information here are written to entertain and help educate you with my knowledge and experience from Real Estate Investing. As always, before embarking on any business venture, you should consult with your financial advisor, accountant, lawyer and other professionals to help you determine if it is a worthwhile venture and to discuss the risks. I make no claims about how much money YOU will make with any of my information. As in ANY business, your results will vary based on your own knowledge, determination, motivation and financial resources available to you.
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You need to be prepared for the calls and e-mails you will get. You need to have a property information sheet to gather the correct info on the property. You are going to get calls from underwater homeowners whether you are marketing specifically for them or not. When people hear that you have rental property or they know that you buy and sell houses, they will find you. I personally do not run marketing specifically for pre-foreclosures because I keep busy enough with what I’m already working on. However, I have learned what needs to be done for short sales so that I can gather the proper information and either work the deal myself or refer it out to someone that specializes in negotiating short sales. If you want to focus on this type of investing, you need to get a good education on handling these deals.

1) First and Foremost, find out where the homeowner is mentally. What do they want to do with the home? Do they want to try to stay in the home or have they thrown in the towel and just want to move on? These are TWO EXTREMELY different cases. You can not in most areas and should not charge the homeowner anything upfront for either scenario and there are specific laws that may determine what you can do in your area to help these homeowners. Consult with a knowledgeable and experienced Real Estate attorney in your local area to help guide you in the right direction.

Paperwork needed to work a short sale deal.

1) Property Information Sheet
2) Financial Information Sheet – lien holders, account numbers, employment/income information, anything that you may need to help work with the bank.
3) Hardship Letter – written by the homeowner stating what their hardship is that caused the house payment to fall behind. Some lenders refer to this as a “Hardship Letter” some even call it a “Sad letter”. Very important, this needs to be a real letter, not some canned letter, and it needs to be written by the homeowner and signed by them with a date on it.
4) Pictures of the property and condition report
5) Purchase and Sale Agreement

After you gather the information on the property, determine if it is a deal you would even want to pursue. Most of us would like to be able to help EVERY single homeowner that calls. It is in our nature as compassionate human beings to want to help others, but we have to be realistic with ourselves and our potential customers. We do not have enough time in the day to help every single person calling. Now, you could try to get close, but your business would have to get significantly larger to handle all of the calls.
So the name of the game is to focus your efforts on the most important deals. It’s all about sifting and sorting your leads. Do you have a process to determine what leads you are going to work on today, tomorrow, next week? This is something EVERY business needs. If you don’t you will be spinning around chasing your tail not getting very far.
This was not a comprehensive list. I have gone through several Short Sale courses to learn different methods to work shortsales. If you would like a reference for a great short sale course, add a comment and also, while you are at it, join my newsletter mailing list.

Happy Investing

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Short Sale Investing & Pre-Foreclosure

Join My Newsletter List and Get the Following: 1) My $97 eCourse on marketing your RE Biz. 2) Priority Notification of upcoming training calls. 3) Post your properties on my website.

Join My Newsletter List and Get the Following: 1) My $97 eCourse on marketing your RE Biz. 2) Priority Notification of upcoming training calls. 3) Post your properties on my website.