– Sub2 Purchase
Subject-To Real Estate Investing FAQ 1. What does buying a property “Subject To” mean? Buying a property “Subject To” the existing mortgage means taking ownership of the property without officially assuming the existing loan in your name. The loan remains in the seller’s name and on their credit report, but you make the payments. It’s […]
– Land Contract Purchase
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
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
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
Selling Properties on Seller Financing The big thing to remember was 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 it doesn’t matter. Whatever terms you can come up with, and you don’t […]
– Wrap
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 […]
– Lease Option
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 […]
– Getting Better Credit Ideas
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 […]
Selling Properties for Cash
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
– Create a Short Sale Package
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 […]