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    Four Ways to Get Money From Your Real Estate Without Selling

    March 15th, 2007 by bujes.marketing

    If you have an existing piece of income producing real estate that you bought within the last couple years, you most likely have a significant amount of equity in that property. Even if you put a traditional 80% mortgage on the property when you purchased you may now have anywhere from 20% to as much as 60% to 70% equity on the property. How do you get that money out and put it to use in a new investment or use it to pay bills without selling your property.

    Read the rest of this entry »

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    Real Estate Investment – A Guide On Buy To Let Property

    March 15th, 2007 by bujes.marketing

    The process of purchasing an investment property is very different to that of buying a home for example, for you and your family to live in. There are many other considerations that must be taken into account before making this big step.

    The buy-to-let boom of recent times has seen many more competitive mortgage deals become available, adding fuel to an already blazing fire. Many borrowers have found that they have come unstuck whilst jumping on the bandwagon without properly researching the proposed venture.

    Thorough research of the market is essential. Even if you decide to borrow a substantial segment of the purchase price of the house, it will usually cost you a considerable amount to set yourself up as a landlord.

    The location and the type of property you are going to purchase are the two most important factors to consider – for example, demand might not match the number of rental properties in certain areas and one bedroom flats may be easier to rent out than two bedrooms.

    It is always a good idea to approach a number of letting agents in the proposed area you wish to buy, in order to gain an insight into rental demand – this is also a good way of finding out how much rental income you can expect.

    When you look to purchase your own home, a lender will look at your income in order to assess how much they would be prepared to lend. With a buy-to-let mortgage however, mortgage lenders calculate how much they are willing to lend in a different way.

    Many lenders will expect rental income to cover at least 130 percent of your monthly mortgage repayments – so make sure that you calculate your sums correctly. Once you have made your calculations and found a suitable area you wish to buy in, you can start shopping around for mortgages.

    Many lenders offer mortgage advances on buy to let purchases of up to 75 percent of the property value. On certain buy to let schemes however, it is possible to borrow as much as 85 percent of the value of the property.

    There are many different buy-to-let mortgage deals that can be arranged – You can choose between fixed, discounted and variable rates.

    Some lenders may insist that you use an agent to manage the property. If this is the case then you could expect to pay up to 15 percent of the gross rental income on management fees. By using the services of an agent you can expect them to source tenants on your behalf, check references and collect the rent.

    As with other types of mortgages, it will be a condition of the lender that you have in place a buildings insurance policy at the very least. Contents cover is also highly recommended however it is not usually obligatory.

    Buy To Let Action Plan

    1. Stay clear of areas that are already saturated with buy-to-let properties – supply can often outweigh demand, which could make finding tenants a difficult task.

    2. It pays to negotiate! It may seem as though competition is fierce for property although if you are prepared to be patient then you could land yourself a bargain at well below market value.

    3. When decorating, it is a good idea to invest that little bit extra. Ask yourself, could you see yourself living there? If not then you may wish to review your decor.

    4. Join a landlords association. For about 100.00 a year you will have access to help and assistance on matters such as tax issues and legislation.

    James Copper writes on all areas of finance. He works for Any Loans & Mortgages as a Mortgage and Loan Broker.

    Article Source: http://EzineArticles.com/?expert=James_Copper

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    New Build Vs Off Plan Property – Which Is Better?

    March 15th, 2007 by bujes.marketing

    Firstly let’s look at how I define each of these terms.

    New build is classified as a development that is within 3 months of completion or has completed but has not yet been tenanted. Off plan is a development that is longer than 3 months out from completion or where the property has not moved earth yet.

    Now some people may say that off plan is simply property “off the plan” or property which has not begun being built and technically they are correct, but let me explain why I consider it very different.

    It’s all about structure.

    My definition is not really based on time it is based more on the fact that in most cases with newly built property you can exchange and complete at the same or within a short time. This simply means that if you have structured correctly your money will go into the property and come out very quickly, effectively realising your gain at purchase and exponentially growing your return of investment.

    In an off plan scenario you would normally be expected to place a 5 or 10% deposit on exchange and then wait for completion which could be up to a couple of years later. Only at this time could you realise a gain from the property, prior to this it is simply a paper gain.

    Hopefully now that you have a grasp of the two concepts we can move on to working out which one presents a better return. After all, that’s all that should matter in property investing.

    The answer is quite simple — It depends on the market. You need to look what the market is doing. This in property is what we call your strategy meeting the market. Choosing the appropriate strategy for the market

    Let’s consider two very different property markets and two different types of property and the relative results they achieve. The stagnant market

    If you purchase an off plan property that is due to be completed in 18 months time and place a 10% deposit down at exchange, you would expect that because the market is stagnant the property will not increase in value over that period.

    So therefore you have paid 10% and made effectively no return over this period but you have also taken a risk that the values, rentals, or market may change making it hard to get a mortgage. No looking so good for our off plan scenario.

    On the other hand if you had purchased a new build property you would have paid your 10% deposit and within a short time received your 10% allowance upon successful completion back. Your actual cash tied up will be significantly less than the off plan scenario. This extra cash can then be used to purchase another property.

    Therefore if you purchase off plan in a stagnant market you are likely to buy one property as opposed to new build where, for the same cash input you could buy perhaps three times as much property. Clearly in a stagnant market new build is a better proposition than off plan property. The galloping market

    The same two properties purchased in a galloping market would mean that the new build is still a decent proposition except that you now have to consider that you have a mortgage to service. It will certainly go up in value more than in a stagnant market and because interest rates are low your cashflow is eased.

    Now consider the off plan. You still secure with a 10% deposit but over the course of the build program your property may have increase in value by say 10%. You don’t have a mortgage or cash flows to worry about.

    Now here’s the power of off plan in a galloping market. Say the property is worth £200,000. You place a £20,000 deposit on it. Now if it goes up 10%, it goes up on the entire value (£200,000) not just your deposit so you have just doubled your money before you have even completed. (£200,000 x 10% = £20,000)

    So consider the above before you go and get sold a heap of rubbish about how great off plan is.

    There is no doubt that in the right market and the right circumstances it is a fantastic proposition but don’t caught up in the hype of the sales pitch and thinking that doubling your money before completion is easy. This is where working with a professional portfolio manager will make you job so much easier, they will explain the pros and cons of each decision.

    Brett Wood is an author and property investor. He runs a successful property investment consultancy in the United Kingdom. His strategies have helped thousands of investors to get on the property ladder and build successful property portfolios.

    Originally from Australia where he was a successful mortgage broker he moved to the UK in 2002 and since then has build a massive portfolio of off plan and new build residential properties in the UK, Spain, Slovakia and Australia.

    For further details contact Brett Wood at http://www.yourpropertyclub.com or directly on 0870 042 1188.

    Article Source: http://EzineArticles.com/?expert=Brett_Wood

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    How To Find An Extra £200 To Pay For An Additional Buy To Let Property

    March 15th, 2007 by bujes.marketing

    Before I helped people build property portfolios I used to help people work out their financial problems and debts, setting them back on the path to financial security.

    Firstly, don’t pay too much attention to this article’s title. It’s there to grab your attention. £200 is a notional figure. Change it to whatever you want it to be.

    This is a simple step-by-step process to find extra money within your existing income. Just follow the steps without actually trying to cut down on your spending, after you have completed this you can take a serious look at what you should really be spending your money on.

    The origins of these activities are from the book The Richest Man in Babylon by George C. Clason. It is required reading for everyone from the youngest to the oldest of us. I have read this book at least 30 times over the past 15 years. It articulates many of the disciplines that I have developed and that I see in so many successful people. In particular I love the following quote from the book, it sums up exactly where most people are in their lives financially.

    If you have not acquired more than a bare existence in the years since we were youths, it is because you either have failed to learn the laws that govern the building of wealth, or else you do not observe them.

    This is a potent reminder that we firstly must learn the laws and then put them into practice.

    Follow the steps exactly and good luck. Ok – let’s get started:

    Read the entire article through twice. For the next 30 days you only have 1 task which is Step 1. Once you have completed this move on and implement Step 2. Don’t try and jump ahead.

    Step 1 – track your current expenditures for 30 days.

    Remember to be honest with yourself. In order to fully complete this exercise you should track your expenditure over a 30-day period. This will open a can of worms in your thinking. You will begin to realise how much money you spend without ever thinking about it. It is generally this undisciplined spending that holds you back from being financially free.

    Most people fail or stop this process after about 4 days. If you fail to track everything, stick too it as best as you can. I have tried and failed numerous times, in fact I can honestly only say that I succeeded once. It’s unfortunate but for those people who don’t track everything you will miss the very things that you need to be made aware of.

    This process of writing down all your expenditure is more of a mental process than a financial one. You see most people have become so numb about spending that they don’t even realise they are doing it. This process will simply give you the awareness of where your money goes.

    Track every expenditure for a full 30 days, as you do it think about each pound or dollar you spend. You will begin to realise that some of your expenses are essential others are not so essential. For now you don’t need to change your habits just observe the mental process you go through.

    Step 2 – “pay yourself first”

    This is the most basic of financial disciplines and one that I would argue will slingshot you to financial freedom quicker than any other single thing.

    For this I want you to buy The Richest Man in Babylon. Read it and then begin to think about what it says. The book only takes about three hours to read but it will change profoundly the way your think about money.

    I still to this day pay myself first and it is the single most profound reason for my financial situation today.

    All you need to do for this step is calculate what you earn each month after tax and then work out 10% of this figure. This is what you will pay yourself first.

    If your after tax income is £1800 the you would put aside £180. Pay yourself first £180, before you pay anyone else including the credit cards, banks, or any other person or organisation.

    As soon as you get paid your income simply take this £180 and deposit it into an account that is separate from your normal account. Make it harder to get too, that will stop you giving into temptation or (perceived necessity). It will take some effort but you will make do on the remaining amounts.

    The power of just this £180 is in the way it focuses your mind away from the fact that you have so many debts and no savings. It changes the way you think from debt-ridden to small-time saver. Even the smallest of savings feels better than the biggest of debts. This positive affirmation sends a clear signal to your brain that you are now a saver and with savings you can open yourself up to investment opportunities. With investments you are thinking at a totally new level. It won’t be long and you can truly start to make a huge difference.

    In my experience my people can do this for about 3 or 4 months but then they find some good reason why they should borrow it and pay it back, next payday. This never happens. Trust me you will not. This is why it is often good to place it somewhere where you need someone else to access the money. I used to have a 2 to sign with my mother and Mum knew the rules behind allowing me to withdraw money. I needed a clear business plan.

    Step 3 – Mapping your cashflow

    The third step is simply to group each category of expense into either –

    • SURVIVAL – absolutely essential. Without it you could not survive, obviously
    • REQUIRED – required is something you must have to function as a member of civilised society, and
    • DISCRETIONARY – discretionary is those things that make your life happy and fulfilling but if you didn’t have them you would still survive.

    OK, for the first time through only look at the discretionary. Make a list of all the discretionary spending over the 30 days and then choose the ones you can truly do without. We will focus on these first.

    Now the best way to change your habits is to focus your energies on a few things rather than a lot. By focusing you get the brain thinking creatively about ways you can adapt and compromise. This is a great facility the brain has.

    Make sure you write down what it is you want! NOT what you don’t want!


    The come up with ways of making sure you don’t spend more than you are allowed.

    I remember back to when I did it last, I wanted to stop spending $200 per night when I went out to nightclubs. (I was in Australia at the time) So I never took any cash out with me and then I restricted the amount I could take out of the Cash Machine to $40 at a time. It was so infuriating to have to make so many trips to the cash machine that I actually decreased my spending to around $80.

    The other thing I did was to drink with my left hand rather than my right. It slowed my drinking rate down considerably. That was a trick I learned from a mate who used to run quit smoking seminars.

    Once you choose your thing or things then come up with these little systems. A system is just a way of focusing your energies. Try them, they really work.

    Try this for a few weeks and see if you can make some changes. It won’t be easy, but the results are worthwhile.

    Brett Wood is an author and property investor. He runs a successful property investment consultancy in the United Kingdom. His strategies have helped thousands of investors to get on the property ladder and build successful property portfolios.

    Originally from Australia where he was a successful mortgage broker he moved to the UK in 2002 and since then has build a massive portfolio of off plan and new build residential properties in the UK, Spain, Slovakia and Australia.

    For further details contact Brett Wood at http://www.yourpropertyclub.com or directly on 0870 042 1188.

    Article Source: http://EzineArticles.com/?expert=Brett_Wood

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    How Many Properties Before My Portfolio Will Run Off Its Own Steam?

    March 15th, 2007 by bujes.marketing

    A great question from one of my investors:

    Hi Brett,

    A little question was nagging me today Brett. In the current UK property investment circumstances, how many properties (or in cash terms if you prefer) do you consider as being the “tipping point” for a momentum to ensuring one can achieve the 7-10 properties without further leveraging one’s other resources such as one’s residential equity, other saving, other loans etc? In other words, is there a point where you consider a portfolio as having developed a self-sustaining momentum to ride on on its own steam but not having to wait for yonks for the equity to grow?

    Great question! OK – the easy way to answer this questions is this: “it varies”. The harder way I will detail below but it still leads to the same answer as before.

    There are so many factors at play in your portfolio that no-one can say exactly when your portfolio will run off its own steam.


    This is always the starting point for every portfolio answer. The strategy you use will depend on the results you achieve. If you are prepared to put the time in researching and finding deals, developing relationships with agents then you can probably pick up a deal here or there. The specific strategy I use is a new build one. This means that I choose having lots of time over some of the best deals that are out there.

    Let me explain what I mean. If you are prepared to put the time and effort in you can search down some fantastic deals. Now normally these are simply one property here and one property there. The deals are everywhere but you need to put a lot of time and effort into finding them. More often than not these deals are better than any property club or investment consultancy could ever provide and the reason for this is simple. Property investment clubs need to do bulk deals so they simply cannot provide the best of the best deals as they lose sometime in the volume. Now what you lose in the deal you pick up in the ease of purchase and the fact that you are putting very little time into the deal. This frees your time up for Lifestyle. For me lifestyle is more important than constantly pushing for the best deal.

    So it will depend on the structure you adopt, if you are doing all the work and searching a deal here or one there then this will decrease the time to momentum, if you are using a property club then it will be increased.


    How you structure the deal is vital. Using a property investment club, means that you can structure the deal in such a way as to put in as little money as possible so you have more to purchase more property. Doing it yourself means that you will be putting in the full amount so you will require more time to momentum. Now this last statement will raise a lot of controversy in some circles and I agree if you know what you are doing and are happy to “walk the line” you can structure with minimal outlay but for the average investor this would be a line not worth walking.

    Stage of Cycle

    This is fundamental, assuming you are in the galloping stage of the cycle you will normally create significant equity and move to a position of momentum. If you play your cards right, by the end of this cycle you will be able to operate your portfolio under its own steam. Of course this always depends on your circumstances and the amount of risk you have managed. Let’s face it over the course of the galloping cycle your property should double in value.

    Equity Available

    This the major determinant as to how fast you can grow your portfolio. If you have £100,000 you will be off and racing a lot quicker than £25,000 and £500,000 will give you a massive head start.

    Income or Cashflow

    If you have a £100,000 income versus £18,000 you will also be able to move a lot quicker.

    There are a few more that we could speak about but in truth the answer to your question is simply it depends, there are so many aspects and variables that you can only work this out with an experienced portfolio manager and a great understanding about the market.

    I believe that you can set yourself up in the position that your pension is secured with 1 cycle or 7-10 years. I truly believe this and this is why I focus on taking all of my clients from 0 – 10 properties, providing all the education, experience, and support they need along the way.

    How long it takes? Well, thats really up to how much you want it? And that’s a different topic of discussion. 🙂

    Brett Wood is an author and property investor. He runs a successful property investment consultancy in the United Kingdom. His strategies have helped thousands of investors to get on the property ladder and build successful property portfolios.

    Originally from Australia where he was a successful mortgage broker he moved to the UK in 2002 and since then has build a massive portfolio of off plan and new build residential properties in the UK, Spain, Slovakia and Australia.

    For further details contact Brett Wood at http://www.yourpropertyclub.com or directly on 0870 042 1188.

    Article Source: http://EzineArticles.com/?expert=Brett_Wood

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    Do You Have A “Dinner Party” Portfolio?

    March 15th, 2007 by bujes.marketing

    When they’re starting out, investors are inundated with opportunity. On websites. At tradeshows. In the mail. It’s everywhere. Cyprus, Croatia, Spain, Florida, Estonia, Las Vegas, Bulgaria, Thailand, Germany, Goa, , Hungary, UK and so many more. It’s a candy store for the budding property investor with so many outstanding opportunities to choose from.

    The experienced professional investor knows that most of the countries are simply distractions or ways to easily line the pockets of salespeople… and to lose money.

    Let me introduce one of my investors – “Tina”. She has an awesome “dinner party” portfolio, meaning that around the dinner table she can hold her own with the best of them.

    She owns a great place in France on a 17 year leaseback, a wonderful Spanish apartment only 10 mins from the beach, a main street apartment in Auckland, New Zealand, an off plan Dubai apartment, a Bulgarian ski chateau, a Northern Cyprus apartment to die for with views of the Mediterranean from the bedroom, an apartment in central Berlin (that’s on the infamous east side only minutes from Alexanderplautz). She also has 3 apartments and her own home in the UK.

    After I met with her, it was obvious that her investment strategy consisted of buying whatever sounded good. In fact, she was blissfully unaware of the fact that her portfolio was a ticking time bomb.

    Tina was in:

    • 8 different property markets, with
    • 7 different languages, and
    • 8 different property laws, and
    • 10 different letting agents, and
    • 8 different market cycles.

    If that wasn’t enough she needs to understand the mortgage products of 8 different countries so she can access her equity as well as 8 different taxation laws. Are you starting to get the picture?

    I have always loved Warren Buffet’s investing ethos, especially his opinion on diversification:

    Diversification is protection against ignorance… It makes very little sense if you know what you are doing.

    You see I have always been a fundamentals investor. One of the things about fundamentals is that once you understand a market and begin making money in it you simply keep doing it, you DO NOT think well I made some money, so what’s the next challenge? You persist, you build systems to make it easier for you to make money, you build better relationships and as a result you make more money, easier.

    That’s the essence of my ‘Set and Forget’ philosophy

    The only time you even consider going into a different market is once you have built a solid foundation in the first. That’s what being a fundamentals investor means.

    You see Tina had bought one property everywhere without any fundamentals, she never cared about questions like:

    • when my French property goes up in value over the 17 years how to I take the equity out?
    • How much capital gains will I pay?
    • How many inner city Auckland flats are coming online at the same time as my flat?
    • Who will either buy or rent my Dubai flat once it’s ready in 12 months?

    It’s questions like these Tina had no idea how to answer. She had simply been attracted to the initial deal. This is one of the best ways to be assured of losing money.

    Property investment is a small part buying and a big part holding. Don’t think that just because you got a good deal on the purchase that it is a good deal. You need to consider the holding, the re-mortgaging, and the disposing.

    Only then can you truly say it’s a good deal.

    Brett Wood is an author and property investor. He runs a successful property investment consultancy in the United Kingdom. His strategies have helped thousands of investors to get on the property ladder and build successful property portfolios.Originally from Australia where he was a successful mortgage broker he moved to the UK in 2002 and since then has build a massive portfolio of off plan and new build residential properties in the UK, Spain, Slovakia and Australia.

    For further details contact Brett Wood at http://www.yourpropertyclub.com or directly on 0870 042 1188.

    Article Source: http://EzineArticles.com/?expert=Brett_Wood

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    How to Find the Best Values in Real Estate

    March 15th, 2007 by bujes.marketing

    The grass always seems greener on the other side of the fence, or other side of the nation. But the best real estate values may be in your own neighborhood. Search for that real estate value in an area close to you. If you are buying as an investment, there is no substitute for YOU, even if you choose to have a management company handle the property, you need to monitor what is happening with the property.

    Look for properties that are listed with a realtor, or FSBO, that have not sold. You will be surprised. Many times there is very little needed to make the property more attractive. In a buyer’s market, people are very picky, and will not buy a property with the wrong color of paint, or other minor imperfections. When the property has sat on the market, many times you can make an offer of a much lower price, and it will be accepted.

    Another method is to choose an area just outside of a growing area. Don’t choose an area with already inflated prices; choose the area North, South, East, or West of that area in the direction of the growth. Just because an area is tripling in price today in a very short time, does not mean it will tomorrow. Those are the areas that fall quickly also. Or the proverbial “bubble burst”. Areas that have growth, but less dramatic increase in equity are the true best investments over time.

    Here is an example of a good investment. A property that was listed with a realtor had been sitting unsold. It was in a modest neighborhood. The home was ugly inside. The paneling from the 70’s had been painted, but with only one coat of paint. The walls were streaked, and it gave the appearance of dirt. The kitchen cabinets had been painted, but were dirty, and some of the doors were falling off. The appliances were not new, but acceptable after cleaning. There was a small leak under the sink, but other than that, the plumbing was good, the roofing was good, and the heating and air was good. Also, it had just been announced there was going to be a new high school built that would be attended by students in the neighborhood. I purchased the home for $74,000. Homes in the neighborhood in good condition were selling in the range of $90,000 to $100,000. To improve the value of the home, I cleaned, repainted with a neutral color, and repaired the kitchen cabinets, painted them, an added detailing with wood trim. One sink was replaced with a pedestal sink in the bathroom, and new faucets, and light switch plates throughout. Also, the leak under the sink was easily fixed. I did not have the home appraised until a year later, but it appraised for $105,000. I held it as a rental for only two years. After the tenants moved out, I replaced carpeting, and put ceramic tile in the kitchen, and baths, and replaced some lighting fixtures. Then I sold it for $118,000. A gross profit of $44,000 was realized.

    There are other ways to purchase property, that work best with properties that a realtor commission is not owed. These methods are purchasing the property Subject To, or by Agreement For Deed, or by purchasing the property by lease purchase, or a Sandwich Lease. With these methods, you control the property, but do not own. It can be a “win, win” situation for both the investor, and the seller

    Kathleen Couch who also goes by the pen name of Purple Leaf has written a variety of articles. She has gained expertise in many areas by having rich and fulfilling life experiences. You may read more of her articles at this site: http://www.helium.com/user/show/32788

    Article Source: http://EzineArticles.com/?expert=Kathleen_Couch

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    Know Your Budgets

    March 15th, 2007 by bujes.marketing

    The most critical component of custom building is obtaining the right budgets – Yes Plural – “for you.” I can not emphasize this point enough. Every family has different needs and objectives. You are allocating resources (monetary, emotional, time, etc.) to your custom home and you expect to maximize your return on investment.

    However, a custom home’s return on investment is not the same as a stock holder’s return on investment. Your return on your home’s investment is personal. Yes, it should have financial implications, but it “MUST” reflect your family’s lifestyle, values and personal sense of style. Your home should be an oasis. A place for entertaining, retreat, and solitude.

    Therefore, you should require two budgets. One budget that outlines what you expect to pay for your home. No More, No Less. This is the financial budget. The second budget is a personal budget. This budget defines how your home will reflect your lifestyle, values and personal sense of style.

    The personal budget outlines your requirements for items such as views; The style of architecture you want; How you entertain; What type of privacy your require; Do you work from home; Is there a need for a play area; How many Bedrooms do you need; What floor would you like the Master bedroom on; Etc.

    It is “critical” that you are honest with the architect and your home builder regarding what you expect to pay and your requirements for your new home. No More, No Less. Without open, honest communication, the architect and your builder can not do the job they are hired to do – Design & Build Your “Custom” Home.

    You should have both your financial and personal budgets prior to meeting with an architect. Your builder and the architect will work with your budgets to maximize your homes return on investment.

    Brian Putnam is the Vice President of Operations and Owner of Stone Aspen Custom Homes in Colorado. http://www.stoneaspen.com

    Article Source: http://EzineArticles.com/?expert=Brian_Putnam

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    Shaping Up Your Deck

    March 9th, 2007 by bujes.marketing

    Have a quick look at your deck, how does it look? Does it look like something out of a home and garden magazine or something out of a horror movie?One of the best selling points of a home in Florida is the exterior. With great weather year-round, people spend more time outside in Florida than almost any other state. Decks and patios are one of the favorite locations for gatherings and relaxation, and as such they are great selling points and can make or break a sale if they are properly looked after or neglected.

    If your deck looks perfect then you already know the power and attraction that a great deck holds, on the other hand if it looks like the residence of a herd of zombies then you might want to do something about it. Let’s start with the deck’s surface. No matter what it is made out of, a pressure washer is your best friend right now. Blast those years of accumulated moss, grime and leaves to reveal the actual deck. Now take a good cleaning solution (make sure to get one that is appropriate for the deck surface) and get to work on making that deck shine! Don’t forget to get the right sealant for the deck. After you are finished with the cleaning, apply the sealant to preserve the work you have just done.

    Now would be the perfect time for some new patio furniture. With the effort you have put into cleaning the area, treat yourself to some stylish seating! Another great addition to a deck is a trellace. It might take some time to get plants to string along the trellace but wisterias grow like fire and look great on a deck. Add little accessories like planter boxes or statues to create the perfect atmosphere for your new area. It will add great value to your home when it goes on the market.

    About the Author

    Charlie Pigeon is a real estate agent specializing in Fort Myers Condos . Fort Myers features some of the best waterfront and standard condominiums in the Southwest Florida Real Estate area. Let Charlie Pigeon help you find the condo of your dreams.

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    3 Classic No Down Payment Strategies

    March 9th, 2007 by bujes.marketing

    Everyone has heard a story or read about someone who bought a property without paying a single dime as a down payment. But how does this work?

    There are several “classic” methods commonly used to purchase real estate with no money down. There are an infinite variety of situations in a real estate transaction that could lead to a deal with no down payment. But for the sake of reality, I will focus on those that are most commonly seen in the current market.

    1. Seller second – The buyer obtains a new first mortgage for most but not all of the total purchase price. The seller finances the rest.

    Purchase price: $100,000 Buyers loan: $90,000 (90% LTV) (new first mortgage) Sellers finances $10,000 (in the form of a new second mortgage) The buyer has borrowed 100% of the purchase price. Thus, you have100% financing, and no down payment was paid by buyer.

    This is not a difficult strategy to employ if the seller has enough equity, is willing to hold a second, and the first mortgage lender approves.

    Talk to your lender ahead of time and find out if creative financing options such as a seller second would be allowed. Make sure you have a lender who is used to working on investment property loans. Some mortgage companies only have programs for owner occupants. You need to go to a lender who specializes in loans for investors.

    2. Another common way to obtain a no down payment loan is to utilize one of the many low or no down payment programs that exist. Many of these are intended for owner occupants, but some are available for investors. Again, it is important to talk to the right lender.

    If you have an investment property that you want to sell, consider taking back a second mortgage for 5-10%. This is not a huge amount, and it can help you sell your property faster.

    When it comes to finding a seller who will help you create a no money down deal, consider buying from an investor who is willing to be flexible. Some investors are willing to do creative financing simply because they understand that it helps them sell houses. It never hurts to make an offer that includes a seller second. You never know until you ask.

    There are some points to remember when purchasing investment property with no money down. A key point is the comparison of monthly payments to expected rental income. When you are financing 100% of the purchase price, your payments will be higher. If you have a second mortgage payment to add to a first mortgage, your payment may be even higher. Be sure your rental income will cover the entire monthly payment.

    3. More common among professional investors is buying wholesale properties, using hard money to purchase and rehab.

    When the rehab is completed, you want to get a new mortgage that pays off the hard money loan. Since this is a refinance, you can take cash out of the property. You may have to bring some money to closing on the hard money loan, but you get it all back when you refinance, so you end up with no money out of pocket. This becomes not only a “no down payment” deal, but also a “cash back at closing” deal.

    It works like this:

    Purchase price $100,000 Repairs $15,000 Hard money loan $115,000

    Purchase and repair, then get new loan to pay off hard money. New loan is based on 90% of After Repair Value. For our example, the ARV is $150,000

    90% of $150,000 is $135,000. New loan for $135,000. Subtract hard money loan pay off of $115,000 leaves $20,000. You keep the extra $20,000 in cash, tax free since it is a loan, rent your house out and let the tenant pay the loan back. Your gross profit is $20,000 cash and $15,000 equity. Total gross profit $35,000. Not too bad for a couple months work.

    Down payment by definition means specifically money that is used to “pay down” the total purchase price. This does not include money for closing costs, points, interest, and other items such as insurance. But if you are buying wholesale properties, fixing them and refinancing to pull cash out, you should be able to pay all your expenses and have a nice profit at the end of the day. (Just keep some of that cash in reserve for emergencies)

    If you do 3 houses per year, and you only net $25,000 total, after paying all expenses on each of the 3 houses, you are still netting $75,000 cash and equity in about 6 to 8 months. Plus, if you are renting these properties, you are also creating additional streams of income through monthly cash flow as well as accumulating equity in each property.

    This is a solid strategy to achieve a retirement nest egg and ongoing income for life in less than 10 years. If you look around at the real estate investors who are wealthy, the vast majority own rental property, be it residential or commercial.

    They understand the concept of buying at a discount, then holding their properties for years. They get to the point where their holdings are worth double or triple the price paid. This is free money that you can earn simply by buying and holding long term. No, this is not as easy as it sounds, but nothing worth doing is ever easy. If it were, everyone would be wealthy.

    There are wholesaling companies in every major city that specialize in selling fixer upper properties that fit with strategy number 3 in this article. Look for their signs on the side of the road, their ads in the paper, or ads in local thrifty nickel type shopping papers.

    Most deals do require some out of pocket cash, even if it is only temporary, until you refinance.

    True no down payment opportunities are pretty rare these days, with interest rates at historic lows. If interest rates go back up, (and they will) we will see more creative financing and more no down payment opportunities in the future.

    About the Author

    This is an example of the kind of quality training and information you receive when you become a member of The Real Estate Arena. When you join TREA you’ll have access to live and recorded investor training, networking and investing tools, all for one low monthly membership fee. Get more information at http://www.therealestatearena.com/ad.aspx?i=rtcl

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