Buying on a land contract When you buy on a land contract you put some money down, you make some payments over time and you have a balloon payment at the end. We use land contracts, contracts for deed, agreements for deed, they’re all the same thing everyday as one of our offers as a […]
Taxation of Quick Sales of Real Estate Investments It is important to understand Capital Gains Tax Capital Gains Tax FAQ 1. What is a capital gain? A capital gain occurs when you sell an asset for a higher price than its original purchase price (also known as its basis). This applies to various assets, including […]
Dealer or investor tax status has to do with what the IRS considers your business activity to be, It’s very hard to get any answers from the IRS regarding whether or not you are a dealer or an investor. But the way you are taxed as a dealer is very different and the way you are […]
Selling Properties on Seller Financing The big thing to remember about seller financing is: who is your buyer? Is your buyer an investor that will rent the property out or is your buyer an owner occupant? Investor: if you were selling to another investor regulations like Dodd Frank doesn’t matter. Whatever terms you can come up […]
Lease options are popular with real estate investors. Everyday we use leases, options, and notes to prepare agreements for sellers and buyers. To keep things simple, we can buy on lease option or sell on lease option. When we buy on lease option we generally either do one of two things: We can either buy […]
Wrap A wrap means a wrap around mortgage. It’s called a wrap because it’s a type of seller financing where the seller agrees to create a brand new mortgage that wraps around the existing financing. The existing financing could be the first mortgage or first and second mortgage. You need to get permission from the […]
Source: www.ftc.gov How do I improve my credit score? When you get your credit score, you might get information on how to improve it. Improving your score by a lot will probably take some time, but it can be done. Under most scoring systems, your score might improve if you focus on paying your bills on […]
What is a short sale? A short sale is where you make an agreement with the bank to accept payment terms, many times are less than what is owed on the mortgage. How does a short sale with the bank affect my credit score? A short sale can have a significant impact on your credit […]
Many times pre-foreclosure lead will turn into a possible short sale with the bank. Short sale definition is the bank accepting less than what is owed for a payoff on the loan. It is a time consuming process. It is not fast and it is not always successful. Think about it from the bank’s perspective: would you take […]
Documents The Seller Needs To Sign The documents the seller needs to sign include the following: * A Short Sale Disclosure * A Quit Claim Deed * Two Different Purchase And Sale Agreements * An Escrow Letter * An Authorization To Release Information * A Limited Power Of Attorney * And a Hardship Letter […]
Selling Properties for Cash You can: Sell to another investor for cash Sell to a consumer buyer for cash Sell to an investor, seller carry, take a note for equity, and sell the note at a discount Understand some Tax issues: What the IRS says about Buying and Selling Properties – Dealer Status
Selling notes in real estate investing This means you’re selling promissory notes that are secured by real estate that are in either first or second position. So if you have a first position note for $60,000, and the properties worth $100,000, the loan of value is 60 / 100 or 60%. . This means that if […]
It’s got to do with Note brokering, You can sell part of a note, generally the “front end of a note” or the “beginning payments of a note”. It’s also called “selling the front end of a note on a partial”, it means that a seller is selling a portion of the early payments on […]
Credit Rating Report: Understanding Credit Ratings Date: October 26, 2023 Prepared For: [Recipient Name, e.g., General Audience, Client] Prepared By: [Your Name/Department] Subject: An Overview of Credit Ratings, Their Sources, and Their Impact 1.0 Executive Summary A credit rating (or credit score) is a numerical representation of an individual’s creditworthiness, based on their credit history. It is a critical […]
From Experian.com one of the 3 Credit Bureaus Your credit score is important. The higher your credit rating, the better your chances of being accepted for credit at the best rates. It can influence your ability to get things like credit cards, loans, mortgages, mobile contracts and more. Looking for tips on how to improve your […]
Okay it’s important if you have a business that you have good credit and that you have some credit lines. If you have awful credit There’s Hope! We can help you get better credit rating. Keep your job for at least 6 months. Pull your three credit reports. If you don’t know how to read […]
Credit repair procedure The Fair Credit Reporting Act of 1978 allows you to contest negative marks. You want to be able to contest any Mark that’s on your credit report. The procedure in general is this: Get a copy of your credit reports Highlight one mark that is negative Dispute the mark saying that it […]
What is Section 8 Housing? Section 8, also known as the Housing Choice Voucher (HCV) program, is a federally funded program that helps low-income individuals and families pay rent for housing in the private market: Eligibility To qualify, a family’s gross annual income and family size must be at or below 50% of the median income […]
Rental Property Taxation FAQ 1. How is rental income taxed? Rental income is taxed as ordinary income based on your IRS tax bracket. For instance, if your rental income is $10,000 and you fall within the 22% tax bracket, you’ll owe $2,200 in taxes on that income. 2. What deductions can I claim for a […]
What is the notes business? The notes business is a wonderful business to be in versus traditional landlord. Owning notes I think is easier. But you have to understand the notes business. It takes a while to learn about it. I want to invite you to two websites about the notes business, One is https://www.mortgage-investments.com/ […]
key factors to maximize the value of your seller-financed mortgage note when selling it: Top Factors Affecting Note Value: Buyer Creditworthiness Strong credit scores increase note value (get reports for all signers) Spousal income/credit should be included Poor credit makes notes nearly unsellable Property Valuation & Equity Maintain ≤75% combined Loan-to-Value ratio (including any 1st […]
You’ve got to be cautious about signing an Exclusive Listing Agreement with a listing agent. We teach about listing property with an agent and getting safeguards for you the real estate investor. Listing Agreements The Buyout Agreement Offering A Bonus The Right To Cancel What If The Agent Says No
FHA 203(k) Loans: A Complete Guide Summarize with Rocket Assist Feb 14, 2024 6-MINUTE READ AUTHOR: SCOTT STEINBERG An FHA 203(k) loan – also known as a mortgage rehab loan, renovation loan, or Section 203(k) loan – can be used to fund both a home’s purchase and renovations under a single mortgage. In effect, it allows […]
Hard Money Hard Money Loans: An FAQ 1. What are hard money loans and how do they differ from traditional loans? Hard money loans are short-term, private loans secured by real estate. Unlike traditional loans from banks, hard money loans are primarily based on the value of the property rather than the borrower’s creditworthiness. They […]
In real estate investing we use Partners a lot. I’m going to discuss some common Partnerships. Wholesaling, we partnered with people that have cash buyers or have properties and they need either Properties or cash buyers. Will use a co-wholesaling contract which is a joint venture agreement. In large projects I have used joint ventures […]
Rental Portfolio Building A Rental Portfolio Rehabbing Rentals Properly – Keep Track Of Your Paint Codes – Use Commercial Grade Carpet – CH&A Is A Must – Security Bars – Maintaining Quality Rental Units Finding Tenants – Screening Tenants – Why Are They Moving? – What Is Their Credit Like? – Where Do They Work? […]
Unlock Your Potential: The Inspiring Art of the Property Flip A Report from the Philosophy of Brian Gibbons, www.REISkills.com The world of real estate investing is not just about bricks and mortar; it’s about vision, strategy, and the transformative power of a deal. The concept of “flipping” properties is often misunderstood, but when approached with skill […]
How do you get involved with retailing or rehabbing a house that needs work, especially if you haven’t done it before? Well first thing you need to do before you buy a rehab property is to find a good Builder that enjoys doing rehab work. Once you find a good builder then you can research […]
Dealing with contractors and paperwork Everything needs to be in writing. It’s important to have good forms when you’re dealing with contractors. Most are honest and they will work hard. There are things that are unexpected that happen. Many contractors go week to week with cash flow. Really good communication and good paperwork that explains how […]