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Where do you get your information about real estate? Do you count on the media? What you read in newspapers and hear and see on radio and TV may not be an accurate representation of reality. Yet, everyday people turn to the media because they think they can trust the information. Well… think again.

The real estate industry is a VERY POWERFUL special interest group organized as the NAR (National Association of RealtorsTM and the NAR is a very powerful lobbying group in Washington that influences our politicians with campaign contributions to write legislation that favors the real estate industry. One simple and classic example of this is the CAVEAT EMPTOR or BUYER BEWARE clause. This legal jargon is a fancy way of saying “cheating is okay” and that whether you are a home buyer or seller, if you make a mistake in judgement when buying or selling a home, pay too much, sell too low, that’s your fault. You should have known the rules to the game before you play. This provides a way out for agents who may misrepresent or omit certain information, which may cause you legal or financial pain. How could this happen you say? Here’s a simple example…

You are a home buyer, you contact a real estate company and meet an agent. The agent is super friendly, helpful and really works hard to find you a home. Through this process you develop a warm and fuzzy relationship with the real estate agent, telling them about your home dreams, your job, your financing and other personal and confidential information. You and the agent become friendly and you can trust them right? WRONG! Agents LEGALLY represent sellers, not buyers. Agents have a legal or a fiduciary duty to get the highest possible selling price for a property from a buyer. They CANNOT legally show you how to pay less for a property because they represent the seller. And themselves…they are licensed SALES people who get a commission.

But there is more…the real estate industry, nationally and locally, spends BILLIONS of dollars annually on classified ads, radio and TV ads. The media is KEENLY aware of these many billions of dollars and the revenues they earn from advertising. And the media WILL NOT ROCK THE BOAT of these powerful advertisers! Why? Because advertising revenue is what keeps the local and national media profitable. The result? Happy news stories…lots and lots of happy news stories about real estate. When was the last time you read a story about a home buyer or seller getting raked over the coals? The media is not going to cover these kinds of stories because they don’t want to upset their advertisers. So you see, the NAR and the real estate industry controls or influences everything from the real estate laws to the information you see in the media.

And then there is a guy like me…I know this industry, I was licensed in real estate. I was a residential and commercial loan officer. I know how people get screwed everydayI know that simple people get their financial throat cut and don’t even realize they are bleeding. Why? Lack of information. Lack of specific education in real estate. Real estate agents are trained and licensed in real estate principals, practices, law and finance. HOW MUCH REAL ESTATE TRAINING HAVE YOU HAD?

What I chose to do was to reverse engineer the training and experience I got in the business and present it to people so that people, buyers and sellers, could represent themselves on a more level playing field quickly and intelligently by reading a “SMART BOOK”. Smart Books show buyers and sellers how to protect their legal and financial interests during the largest investment of a lifetime, buying or selling a home. It blows me away how many people underestimate what I am trying to say. IF you were smart, you would take this opportunity to click the links below to learn more. If you don’t, well, then you are on your own.

Copyright © 2006
James W. Hart, IV
All Rights reserved

SMART BOOKS: http://www.smart67.com
EBAY STORE: http://stores.ebay.com/SMART-Books-And-More
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Louisville realtors, investors and debtors facing foreclosure ask me from time to time how short sales work. Consider this a primer.

I recently brokered the sale of a house for $85,000 to an investor. The house appraised for $120,000, giving the investor substantial immediate equity. The lender took a $60,000 loss. The owner/seller was forced to sell his house, for which he received not one red cent, and had to move into rental. How is it that all parties walked away from the closing table satisfied?!

In the beginning…

When a home owner owes his lender more than he has borrowed, he’s said to be “upside down on his mortgage”. This can come about in many ways, the principal amongst them occurring when he simply stops making mortgage payments, often because he is in serious financial difficulty. If his mortgage payment is $1,000 per month, and he stops paying, or pays intermittently, the fines, interest and principle can rack up pretty quickly. And if the owner can’t pay the mortgage, chances are he hasn’t been able to make necessary repairs to his home. This situation is almost invariably accompanied by despondency, which again leads to neglect of the house.

Stir into the mix bankruptcy, and perhaps divorce, and you’ll understand it’s not surprising to find the homes of these owner/debtors are often seriously degradated. That leaky roof is probably the last of the owner’s problems.

The “F” word

Foreclosure. It’s not a happy prospect for the lender or the borrower. Lenders have different tolerances for late payments. However by the time the debtor is late for the fourth consecutive month the vast majority of lenders begin foreclosure proceedings. In Kentucky the foreclosure sale of the home by public auction takes generally anywhere from 6 months to a year from the time the foreclosure procedures began. It can take longer - I saw one artful debtor drag on the foreclosure proceedings for more that 20 months! Her mortgage payment was $1,300 a month. After 20 months that became a significant debt compounded by late fees, interest, legal costs, and the potential cost of selling the property at a public foreclosure sale. To say nothing of the continuing, moment by moment deterioration of the property. By the time she moved out the bank had written off in excess of $80,000.

The lender’s and borrower’s conflicting interests.
Capitalism is a wonderfully contrived system. It hands not only the power-barons a potent array of weapons with which to fight, but also the poor and destitute. Though the battlefield is nowhere near even, double digit interest thrust too deeply down an indigent debtor’s throat may precipitate his “nuclear” retaliatory option - Chapter 7 bankruptcy. And so these two, symbiotically entwined, are locked in an elegant dance, teetering between dividends and disaster, profit and poverty. One serious mis-step, and the band stops playing.

Thus, from years of bitter experience, lenders have learned that it’s often better (cheaper) to attempt to gain the cooperation of the owner and have him agree to voluntarily sell and vacate his home, rather than evict him under foreclosure. Lenders also understand that the chance of ever recovering the money owed to them by the debtor is slim. But many debtors choose not to sell because, around the time they realize they will never catch up on their payments, they often have another “Ah Ha!” flash of insight: that if they stop paying their mortgage and just wait for the foreclosure axe to fall (or better yet, engage in a hatfull of tricks to keep that axe at bay) they can live “rent free” for at least 6 months. So now the debtor turns from borrower to squatter, perceiving it to be in his best interest to prevent the foreclosure for as long as possible. And if the house, the lender’s “security”, should fall apart in the meantime, so be it.

The solution

The lender is in a position to offer the borrower a very important concession for his cooperation: to write off the entire debt if the borrower finds a buyer to buy the house at a price and terms acceptable to the lender, within the time stipulated by the lender. This is the essence of a short sale. Lenders set their own guidelines for what they will accept. They may say they need to get fair market price, but will in fact often be prepared to sell for much less. They do not want to chance selling this house at auction and risk receiving a very low price. Or worse yet, receive a bid so low that the property does not meet their reserve price, and they end up owning the property. In this case the property is administered by the lender’s REO (real estate owned) department, which will then list the property with a realtor. And the cycle begins again……

The Lender initially said The Willows house was worth $120,000, and wanted it sold at about that price. It got the $120,000 figure from someone it had hired to do a BPO. BPO is short for “Broker’s Price Opinion.” It is similar to a CMA (Comparative Market Analysis) and serves the same purpose: to arrive at a fair market value for a property. Most are done as a “drive-by,” meaning that the “driver” (usually a realtor, maybe an appraiser) drives by the outside of the property, takes one to three photos and leaves. He then completes the lender’s BPO form on-line and e-mails it with the picture. Sometimes an “internal” is requested, in which case the realtor goes into the property, takes about 3 internal and 3 external photos and sends these through to the lender with the completed BPO form.

When the debtor had realized he would not be able to save his house in The Willows, he contacted me to see if I could help. He did not want a foreclosure on his credit report, which would have prevented him from getting a conventional mortgage for three years. Even with a Chapter 7 bankruptcy, the wait period is only 2 years from dismissal. He also wanted to have his debt forgiven. I was able to accomplish both these goals, saving him about sixty thousand dollars.

The short sale process

As a Realtor, the first thing I did was explain to my client all his theoretical options, including deed in-lieu of foreclosure, loan renegotiation and others. He settled on short sale. I listed The Willows property, and had him sign an authorization for me to contact the lender to see if it would agree to a short sale. Remember, when I list the property, the owner/debtor is my client (not customer). This means I must always act in his best interest. The lender is not my client and I owe it no such duty. In a normal sale the seller and buyer have greatly divergent interests: the seller wants to sell at the highest possible price, and the buyer wants to buy at the lowest. In a short sale there is no such contest between the parties: the seller wants to sell at any price the lender will accept, and will generally agree to any price offered, contingent upon the lender’s acceptance. So in a short sale, the lender takes on the mantle of “seller” vis-a-vi the buyer and these are really the parties who negotiate the contract. Now get your head around this one: as listing agent in a short sale I am often in the peculiar position of actively attempting to negotiate for the sale at the lowest possible price acceptable to the buyer! (But always with the caveat that this is in the seller’s best interest, and does not jeopardize the sale). This anomaly has many ramifications for the way I conduct and negotiate these transactions.

Price, Terms and Timing
Price: So how much will the lender lop off that price? I’ve generally found that as the day of auction approaches, lenders become more malleable. Pretty inefficient, because they loose a lot of time and money that way. I supplied the lender of The Willows property with objective material indicating that the drive-by BPO was inaccurate, given the condition of the house. The lender then had an internal BPO done. That was key to getting this particular deal done. I also sent off photos and comps of my own. In some cases I’ve sent the lenders well over 100 photos. Pictures speak louder than words, and it’s critical, when the property is damaged, that the lender understand the shape it’s in . Remember - the BPO realtor may be doing up to 50 BPOs a week - he could care less about this one deal. But as listing agent I need to keep the lender informed of all issues that coincide with my client’s best interests. The second Willows BPO came back at $100,000, and the lender initially tried to obtain that figure. Ultimately, with the foreclosure sale due to occur the next day, it reduced that amount to 80% of the $100,000 plus $5,000 to pay off non-mortgage related liens. At 4.50 pm the lender agreed to stop the foreclosure sale scheduled for 11.00 am next morning.

But hey, it ain’t over ’til the fat lady sings! Because the loss on this loan was $60,000, and because the lender had authority to settle up to $30,000 only, we had to wait for final word from the mortgage insurance company, which we eventually obtained, but not without many hours additional work.

As you see, the price of The Willows property was determined by the lender looking at the bottom line - how much net it would receive. And in order to get this number, all lenders in short sales request a “fake HUD-1″ or a “net sheet” submitted simultaneously with the offer. In a normal real estate transaction the HUD-1 is drawn up at the end of the transaction, after agreement is reached. - in a short sale the title search is performed immediately upon listing, even before there’s an offer, so that the figures can be applied to the net sheet as soon as needed.

Terms: The most common terms distinguishing these deals are that the lender often requires terms such as “sold as is” and “proof of finance or funds required with offer”, and to protect the seller, the realtor should insert terminology indicating seller’s acceptance is subject to release from all liability for debt. None of this is carved in stone, and I’ve negotiated repairs and other concessions from lenders. Each case is unique. Paper will suffer any indignity - write the offer!

Timing: The REO, Foreclosure and Bankruptcy departments often appear to be understaffed and overwhelmed, so don’t expect instant responses. Some will take weeks to reply. Make sure the buyer and seller understand this. But once a deal is struck, the lender will often expect an unreasonably quick closing, and will attempt to penalize you with days interest for closing after a certain date. This all goes back to the net sheet calculations; because you have informed the lender how much it will receive by a certain date, it then attempts to hold the line at that date, even though they are generally very slow to respond. The Willows lender, after having not responded to multiple contacts, gave us just 2 days within which to close! Fortunately we well prepared, but it was very close.

Closing Note
The tax consequences of short sales fall outside the scope of this article. If you want info on how to handle competing offers, dual limited agency within this environment, or need a copy of the net sheet I use, you may contact me.

Update
Here’s a new twist. A couple of weeks ago I submitted a $235,000 offer to a lender on a short sale, (Seller owes about $275,000) which the lender ultimately accepted. However, in it’s acceptance letter, at the very bottom of the sheet, the lender stipulated that it retained its right of recourse against the seller/borrower (my client)! And this despite seemingly contrary language in the main body of the letter. I explained to the lender that the ONLY reason my client had agreed to the short sale (and not to jerk the lender around in the bankruptcy proceedings) was because he expected to obtain a complete release from all liability at closing. After a weeks or so of wrangling, attorneys etc, the lender “saw the light” and agreed to the release.

CMA
Though the information provided is considered reliable, it is not complete, nor warranted accurate. Always consult your broker or an attorney.

My name is Neil Blumberg, real estate broker and recovering attorney (South Africa), currently residing in Louisville, Kentucky. I specialize in the arcane art of creative finance, and assist my clients buy and sell homes and investment residential and commercial real estate. Member of various real estate organizations including Real Estate Exchangers, recent service on the Greater Louisville Association of Realtors Forms Committee and am currently Chair of the Louisville Chapter of the Real Estate Cyberspace Society.

You can write to me at neil@neil4realty.com, and visit me at http://www.GoldenRuleMetro.com. See my cool cyber tips at http://www.recyber.com/cybertips/neil4realty

A REAL ESTATE OPTION IS A PIECE OF PAPER that allows you to control a property–such as a building, a piece of land, a hotel, motel, etc.–without owning it. And an option can cost a little as zero dollars, or up to several hundred dollars. Let’s see how you might use an option–based on a real-life property:

1. A Beginning Wealth Builder in a residental area took an option on 33 single-family homes in the month of September.

2. The option cost nothing–that is, zero dollars–and ran for 120 days through the option period.

3. At the end of the 120-day option period this Beginning Wealth Builder would have to buy these 33 homes for a total cost of $796,000, or lose his option opportunity.

4. Using creative advertising and sales methods, this Beginning Wealth Builder has been able to sell 15 of the houses for $748,000. His cost for these 15 is $392,000, giving him a profit of $748,000 - $392,000 = $356,000 before expenses. The other 18 homes he’s selling for $565,000; his cost for these = $404,000; profit before expenses = $161,000. Total profit before expenses = $517,000. Even with several thousand in expenses his profit is still significant and gives a nice year’s income.

HOW COULD ANYONE MAKE THIS MUCH PROFIT in this a short time, you ask. The answer is easy to give, and it has several parts. This Beginning Wealth Builder:

* Knows the area these homes are located in because he has carefully studied values and sales in this location for a long time.

* Offered buyers good value for the price they paid, making this a win-win sale for the buyers and the seller–plus the issuer of the option.

* Arranged the financing so the buyers could get mortgages that are affordable and allow them to earn money from the homes they bought.

* Held to his asking price even though buyers tried to “knock him down” in price to get a better deal.

IF THIS TYPE OF REAL ESTATE INVESTING INTERESTS YOU then you should give it some thought and:

1. Read a typical option; learn what’s in it. Get another version of the basic option if the one you read does not appeal to you.

2. Look around your area to see what kinds of properties are in demand which you can take an option on and re-sell at a profit. REMEMBER: NO LICENSE OF ANY KIND IS NEEDED TO DEAL OPTIONS.

SO IF YOU’D LIKE TO HAVE THE POTENTIAL of earning some $500,000 in less than six months, consider real estate options. They do work for Beginning Wealth Builder’s!

More Business Support

Competitive mortgage loans from leading mortgage providers are basically divided into two main categories, repayment and interest only. Repayment mortgage loans are also known as capital repayment mortgages because your monthly payments contribute towards the total amount borrowed and the interest payable. Repayment mortgage loans are also paid over a specified period and assuming you make all your payments, the loan is guaranteed to be paid in full by the end of the mortgage term. Early on in the term of the mortgage your repayments will mainly go towards paying the interest on the loan and as the years progress your payments will be paying off greater amounts of the capital each year.

Repayment mortgage loans can have a number of advantages. Unlike mortgages which are linked to the performance of the stock market, like ISA (individual savings plan) interest only mortgages, you don’t have the risk of being dependent on fluctuations in the stock market. You are also less likely to suffer from negative equity because the amount you owe is reducing with each monthly payment. You will also enjoy an increase in the level of equity in your property as you pay off the capital each year, assuming that your property does not drop in value. As a result of this you will probably find that when it comes time to move up the property ladder you’ll find it easier to obtain a mortgage and will have a significant amount or equity to use on your next investment. A disadvantage of repayment mortgage loans is that if you were to move house in the early years you would probably still have to take a mortgage for the same twenty to twenty five year terms because only a small amount of the capital will have been paid off. This means that you will end up paying for a combined longer period. A further point is that you would not be able to benefit from good performance of the stock market whereas mortgages linked to the stock market could enjoy an early pay-off and even an additional lump sum at the end of the mortgage term.

Interest only mortgage loans require you to only pay the lender the interest on the amount borrowed on a monthly basis. This means that you must establish a separate long term investment plan that will provide the funds to pay off the full loan amount in your planned time frame. There is no repayment term since you pay off the mortgage loan once your planned investment has accrued sufficient funds. Interest only mortgage loans continue at the rate agreement you have chosen until your funds are available to pay back the borrowed capital. The type of investment plan can be an ISA, an endowment or a pension. An advantage of interest only mortgages is that you can choose the investment that best suits your situation and is tax efficient. You also have the possibility of being able to pay off your mortgage sooner or to receive a lump sum at the end of the period should your investment perform above expectations.

The disadvantage of interest only mortgage loans is that your debt remains constant throughout the mortgage period and you are taking a risk on being able to pay back the capital because you have no guarantee that you will have the funds to pay off the mortgage at the end of the repayment period. This is because your investment may not perform as expected at the outset.

This information has been provided by 24 Hour Loans. For further information on mortgage loans or other forms of personal loans visit our website, http://www.24hourloan.co.uk

Copyright 2006 Donna Lewczuk

Just imagine - as you’re going through your favourite coffee drive-thru this week - that a well-dressed gentleman stops and offers you $11,000 for your medium double double. Who would hesitate? We’d take the cash. It’s not so far-fetched. In fact, if you take that coffee budget and apply it to your monthly mortgage payment, a mere $30 extra per month -you could save yourself about $11,000 over the life of your mortgage.

Strategies for knocking years off your mortgage

Most of us can accept the idea that we must borrow money to purchase a home. We look for the best mortgage, and then just keep doling out the money for as long as it takes to pay it off. Most Canadians choose to amortize their mortgage over 25 years. That’s a long financial commitment, and it could more than double the cost of your home. But with good planning - and a few smart tactics - you should be able to enjoy your mortgage-burning party much earlier. Here are a few strategies for fast-tracking your mortgage:

1. Increase your monthly payments. Rather than choosing your amortization period first, ask yourself how much you can afford each month. For example, you may feel that you can afford $1,000 per month. You’re delighted when your $125,000 mortgage only demands an $800/month payment (at a 6% interest). But make a monthly payment of $1,000 instead, and you’ll shave 8.75 years and almost $46,000 off your total interest cost.

2. Take advantage of lower rates. In addition to reducing the overall interest component of your mortgage, you can take the opportunity to pay down more principal faster - simply by maintaining your original payment. You should even increase your payment if you can, to reap the benefits of some of the cheapest mortgage money in memory. Again, you could take years - and thousands of dollars off your mortgage.

3. Tie mortgage payments to your pay schedule. Many Canadians are paid on a bi-weekly schedule. If you accelerate your payments to bi-weekly instead of monthly, you could improve your own cash flow and fit in an extra payment each year. That means that you’re paying off principal faster - leaving you with less interest to pay overall. It doesn’t seem like much but - like putting your coffee budget to work - the bi-weekly strategy can have you mortgage free four years sooner, with almost $22,000 in savings.

4. Use any bonuses, tax refunds or “found money” to pay down principal. This is especially valuable in the early years of your mortgage. If you receive an annual bonus or other lump-sum compensation, see if you can put it against the principal. An extra $1,000 per year is a great way to fast-track to mortgage-free!

5. Consolidate your loans into a new mortgage and use the savings to boost your payments. If you’re a homeowner with some equity, you can use your mortgage to consolidate your other loans: student loans, car loans, etc. Add the money you’ve been spending on loan payments to your mortgage payments, and you could see big savings in overall interest.

With mortgage rates still low, you should take the opportunity to get an expert mortgage analysis from an independent mortgage broker with access to mortgages from a wide spectrum of lenders. You’ve got a great opportunity to put some fast-track tactics in place. You’ll remember what a good decision you made at your mortgage-burning party.

Donna Lewczuk has been in the financial services industry for over 20 years. She specializes in helping people with damaged credit get the mortgage financing that they require. If you would like to discover if you qualify to slash your debt in half, get your FREE report at www.donnasmortgages.com .

Taking your first steps in the buy to let marketplace can be a daunting prospect. However, with the right advice, the right mortgage and the right property; there’s no reason why anyone can’t become a successful property investor.

Start by talking to local lettings agents or property managers. They will be able to give you advice on what types of properties are most in demand, the most desirable areas for tenants and what you can expect as a monthly rental income. Remember you’re talking to the experts so don’t make the mistake of thinking you know best. If you intend to invest in a university town get in touch with the student accommodation officer.

Once you have a firm idea of the type of property you are looking for; you’ll need to turn your attentions to finding the right buy to let mortgage. As with all aspects of the financial services industry, the key is to do as much homework as possible. High street banks and the money pages of the Sunday broadsheets still provide fertile hunting grounds, but you’ll find some of the best deals with the help of an online broker.

As a rule of thumb you’ll find that most lenders will offer up to 85% with the buyer paying a 15% deposit. Hence, if you want to purchase a property for £200,000 you’ll need an initial lump sum of £30,000. You’ll also need to factor in the broker’s fees, solicitors fees and valuation costs.

An experienced broker will be able to help you decide which of the following mortgages is most suitable for your needs:

Standard Variable Rate: With a SVR the percentage rate is controlled by the lender and can go up or down to reflect changes in the Bank of England’s base rate. One criticism of SVR mortgages is that lenders pass percentage increases on faster than decreases

Fixed Rate Mortgage: If you are a cautious investor, who likes to have tight control over your monthly outgoings, a fixed rate mortgage might be the answer. Safe from the fluctuations of the economy: you won’t loose out if there’s a downturn, but equally you won’t be able to take advantage of interest rate cuts

Capped Rate Mortgage: Capped mortgages are similar to SVR, but have a fixed limit above which the interest rate cannot climb

Discounted Rate Mortgage: Discounted mortgages offer borrowers a reduced rate for a set period (typically between 18-24 months), before switching to the SVR

Base Tracker Mortgage: Tracker mortgages are tied (a fixed percentage above or below) to the Bank of England’s base interest rate.

Because rates vary from lender to lender it’s a good idea to shop around. Remember that brokers often have access to preferential rates that aren’t available to the general public. If you decide to use a buy to let broker, make sure that you choose one that charges fees once the mortgage has been successfully arranged.

Mike Stepney is part of the team at The Money Centre. Click for more info on the best buy to let mortgages.

Discover The Truth About How To Own And Control Real Estate With
No Money Down Or Poor Credit! http://www.doughfields.com

This 27 year old licensed real estate agent and investor from
Michigan tells you the absolute truth about investing in real
estate with no money down… he holds nothing back in this
break-through report and tells you exactly what other so-called
real estate gurus FAIL to tell you! If you’ve ever thought about
breaking into the billion dollar real estate investing business
OR if you’re just trying to take your investing to a new level,
this is the most important letter you’ll ever read! Dear
Aspiring Real Estate Investor, If you want to skyrocket your
bank account, create insane cash profits, build a lofty
retirement nest egg AND want to do all of this with little or no
effort by investing in real estate, THEN you’re reading the
WRONG letter!

Yes, you heard me right.

If you want a big reward with little effort, then you’ve come
to the wrong website.

Let me say this right up front…

In life, you don’t get something for nothing!

Can I say it again?

You don’t get something for nothing!

C’mon, you know in your heart that this statement is ABSOLUTELY
the TRUTH.

Although we all know that it takes effort to make good things
happen, there is still that little glimpse of hope that we all
hold in our hearts that maybe we can strike it rich with some
get-rich-quick scheme or magic bullet.

Listen, the only way to get rich without effort is to win the
lotto. It simply doesn’t happen. By the way, you’ve got a better
chance of being struck by lighting than to win the lotto.

Here’s What’s In It For You!

If you consider yourself someone that is willing to
learn…willing to follow directions…and if you don’t quit at
the first sign of a challenge, then this website is specifically
for you and can show you how to build wealth through real estate
investing for you and your family. And yes, in some cases you
can do it relatively quickly.

As a real estate investor you really can have a better quality
of life and the lifestyle you may dream of. However, it will
take work.

If you’re willing to follow directions, go through the learning
curve and stay committed until you make it happen in your own
life, then here is what you can expect to receive in return:

Expendable monthly cash flow– this is income that you receive
every month that is extra money for you and your family to spend
or save. Use it for vacations, a bigger house, that plasma TV,
your child’s education, or save it for a rainy day…it’s yours.
Equity– as the mortgage balance is paid down over time, you
build equity in the home you own. Do not underestimate the power
of equity! Equity can be the single strongest factor in building
your personal real estate empire! Long term security for
retirement– real estate is proven to be one of the fastest ways
to build a nest egg for retirement. So, even if you’re
approaching or if you’re beyond the retirement age, there is
still hope to grow a retirement savings. Your wealth will build
exponentially over time through real estate and the compounding
power of numbers will allow you to retire in style.
Appreciation– historically, real estate has gone up in value
and you can make money over time just by owning one or more
houses. You may buy a house today that’s worth $150,000 and in
10 years you may be able to sell it for $220,000 or more. You
then made a profit of tens of thousands of dollars and you
didn’t do anything accept own a house. Quick profit– many
investors today buy houses and put a little money into them to
fix them up. Then they immediately sell them for a quick profit.
Tax benefits– investing in real estate gives many tax benefits
that you can take advantage of and pay less taxes at the end of
the year.

Investing in real estate also allows you to:

Be your own boss–listen, 95% of us work for someone else.
However, you’ve got to be told the truth. If you are directly
trading your time for dollars, then it is almost impossible to
get ahead financially in a big way. Your boss can make money
while they’re at their kid’s soccer game because you and the
other employees are making them money. I’ll show you how you can
make money through real estate while you’re at YOUR child’s
soccer game and you’ll begin to leverage your time so that you
have cash coming in 24/7 like an automated ATM machine spitting
money into your pockets.

Work from home–Not only can there be great tax benefits from
working at home (you’ll need to talk to your accountant), but
now you can forget the rush hour traffic to and from work every
single day. Ugghhh! Today, I absolutely refuse to drive in rush
hour unless it is completely necessary (like attending a funeral
or something). It just is NOT the way to start off your
day…fighting traffic, dealing with angry road raging drivers
all pissed off that they’re running late for the
office….enough already! As you build your real estate
business, wouldn’t it be nice to one day be able to do all your
work from the comfort of your home? Be there for your kids…
Work in your pajamas… Avoid the stress and headaches of
traffic and deadlines at the office. It just sounds so much
better, doesn’t it?

Have more free time–I’m going to show you how to actually free
up your time by investing in real estate. Sure, you may have to
add a couple more hours to your busy day at the beginning, but
don’t you agree that it will be worth it? C’mon… what would
you do with your 40, 50, or 60 hours a week if you eventually
did NOT have to report to a job? As you become experienced and
build on your investing career, you will have MORE free time and
you may have the option of firing your boss forever!

Build your net worth There is no better way in this great
country of ours to create financial independence, freedom, and
long-term wealth than learning to invest in real estate.

Why Should You Listen To Me?

If this is your first visit to this website, then you may not
know who I am. My name is Jeffrey Ringold and I’ve been a
licensed real estate agent and investor for more than 7 years.
I’ve bought or sold more than $12 million in real estate in my
career and I accomplished this by the age of 27.

I’m the author and publisher of several real estate investing
courses, real estate newsletters and have helped thousands of
real estate students from around the country.

On the Internet, it can be very hard to know who to listen to.
Day after day you can get hit by sales pitch after sales pitch
with so-called gurus trying to sell you their latest and
greatest get rich quick scheme. http://www.doughfields.com

Once you have contracted us to sell your property we go to work for you to bring you the most money and best price for your property as quickly as possible. Some properties are faster selling than others based on the location, condition, size, price, of course, and type of the property.

Price is always a consideration but proper marketing and selling techniques will usually garner you, at least, an extra 15% to 20% and that is where we shine! We go into action quickly with all of the modern and traditional methods of marketing, promoting and advertising your property. Our purpose in doing what we do is to find YOU a number of willing and able purchasers in order to encourage at least one to purchase your property — quickly and at the highest price.

We send out “JUST LISTED” postcards to 200 homes and businesses in the surrounding area about of your property. This card directs them to the web site we set up for your home with numerous pictures, a full explanation, and all the data they want to know about your home; including the price. Those folks who live close to a property are happy to pass the word on to friends about anything new on the market. They are also the most knowledgeable and the most interested in your home selling for the top price, possible. After all, they know that the more YOUR home sells for, the higher theirs will appraise and sell for.

We publish a professional brochure or flyer for your property; distribute them in numerous ways and keep them updated and fresh in numerous local businesses and in the local restaurants. We already have flyer holders in many locations. We will mail out and deliver these flyers to other Realtors by mail and in person. If there is another Realtor who is likely to have an occasional buyer for a property such as yours, they get our special attention; we invite them for a private showing, print up special flyers just for them to mail out to their prospects, in their name, or whatever it takes, and if appropriate we assign a courtesy key to them as well.

In fact, we even go so far as to let other Realtors send THEIR customers to us, we’ll show the property, and still let them have the full commission. This is not done by anyone else in the business as far as we know. The advantage is YOURS!

Your property will be added IMMEDIATELY to the Multi-list computer search service for other Realtors to see and get all possible data from our listing. Our listings are known as the most informative in the area and that helps all the other agents sell your property too. That way if any of the Realtors have a customer for a property similar to yours they will find it.

The Internet and World Wide Web are the greatest single source of Real Estate business for those who use them effectively. Web sites are virtual-color-brochures which prospective buyers can view at their leisure; then call or write us when they are ready to see your property in person. Over 97% of our prospects come from our multiple award winning Web sites. Most Realtors get only a few % of their business from the Web, but they don’t have sites like this one.

We advertise our web sites in thousands of other locations on the Net. We have spent many thousands of hours and thousands of dollars to get our site to come up in the major search engines especially www.Google.com the TOP search engine on earth. Google does over 95% of the search work done on the Web, but we also pay to use another 37 of the most popular search engines as well. People LOVE pictures, especially when searching the Web. We have more pictures than any other Realtor I can find.

Most other sites have one, or perhaps two or three pictures of homes and land (at the most) on the MLS and on their web sites. We have twelve or more for most of our properties. One of our properties, a 5.5 million dollar one, had over a hundred professionally taken pictures on several web pages. Internet and MLS submissions are done as soon as the property is listed for sale with us and while you are getting the work done in the real world. This puts your property in it’s best appearance while you are doing the finishing touches.

One of our sellers was not quite certain that painting the entire inside of the home and putting in all new carpeting was really important to sell their home. We did the work first on a picture-fixing program on one of our computers and they agreed with us and got the work done right away. They saw how less than $20,000 in painting and carpeting raised the value of their home at least $50,000. The did a magnificent job and it was done in a couple of weeks AFTER we had all the work done on our site here.

Another seller had an motel-apartment complex that had a fire and was burned very badly, it was almost a complete loss. With picture fixing software and a lot of time, we repaired the burned off roof, rebuilt the walls, put in new windows and doors, new sidewalks, new grass and parking and made all the improvements, on our web site, before he could repair the damage. The pictures were done several months before the work was done. Before the motel was even complete in the real world, the seller decided he liked the looks of the property on our web site so much he decided to keep the property and raise the rents to get and keep a better class of tenant. Oh well, we lost the sale but our community was improved greatly.

We place digital classified ads in all manner of periodicals, to direct people to your property on our Web sites; these ads are placed in dozens of Real Estate On Line publications. Many people search the Internet for property in special locations and are interested in recreation, lodging and real estate in our area. We have numerous ways for them to find us in Web Searches in addition to the above: we have paid to have our sites listed under tens of thousands of different search criteria with the major search engines. This is done to help buyers find us and to help sellers get more exposure. Most web sites are only listed in the search engines under one, two or ten key words and search strings, instead of the nearly 900,000 terms and search criteria that we use!

Web based marketing is responsible for well over nine tenths of the calls we get each day and is the MOST EFFECTIVE WAY TO PROMOTE A PROPERTY. For properties over $300,000 about 98% of the e-mail and calls are from our various Internet marketing activities. We also send out periodic newsletters and entice those thinking of purchasing Real Estate in the future.

As other Realtors in the area develop more professional and workable Web marketing sites; we allow them to place your property on their sites also for even more exposure. Professional real estate advisors tell us to expect over 80% of ALL real estate business to come from Internet marketing within the next two years. Our experience is already well beyond that figure!

Print media advertising is certainly not dead, but far less effective than it was a few years ago. We use it a lot. We advertise extensively in the local publications. The print media have been, until the Web, the primary source of prospects for local real estate. And they are still an effective way to get people to our Web sites. Most people who are interested in real estate pick up the local papers for the area where they want to be, as they go TO the area first, usually several times, or are advised by friends who live there. Once people are convinced to live or buy in a particular area they often subscribe to the local papers of that area.

We keep you advised and informed on local market activity and changes. We also follow up with any other Realtors who show the property to ensure that they have our complete and speedy help in getting their purchasers to buy your property instead of some other one.

There will be a For Sale Sign on your property, a nice large one, with information and pictures on a professionally done flyer which will have copies kept in a clear plastic and waterproof box attached to the sign. Our web site is listed on the sign as well. As you can see, we consider our web site to be a huge color catalog that is far too large to print otherwise - and our web sites are available all the time not just one day.

We will personally call, deliver and mail flyers to the most successful Realtors in the area who have a track record of selling properties like yours. They will ordinarily find the property on-line anyway — but these busy Realtors still get our special and repeated attention. Other Realtors are fully in every way possible, this is not usually done in this area. We owe and give our allegiance to YOU when you list your property with us, and we are always helping others to sell your property too.

All in all, we ARE The Cutting Edge Realtors, and we’re far ahead of any other Realtors in our experience, ability and activity to promote, market and sell your property.

Your best choice is to have us represent you. Are you ready! If so E-mail us.

Copyright 2000-2005 by www.JodyHudson.com

Jody Hudson has been a Realtor for 35 years in America and in Delaware.

The source page for this article is: http://www.kate-jody.com/essays/whatwedo.html

The federal government wants you to own your own home. In fact there’s $200 million available right now to prospective first-time home buyers. President Bush signed into law the American Dream Down-Payment Initiative (ADDI) also known as The American Dream Act. The act helps first time homebuyers with down payment and closing costs, usually the biggest hurdles in the way of a first time home purchase.

The American Dream Act is known as a government home buyer program. Buyahome-no-money-down.com shows there are four primary way for a home buyer to purchase a home with no money down.

Lender provided financing is simply what is stated. Some lenders provide 100% financing, while others provide 103% financing, where the lender actually includes the down payment in the lender originated loan.
Some government agencies such as Fannie May and FHA provide what Buyahome-no-money-down.com shows as a Flex 97 mortgage. Those mortgages allow the buyer to finance 97% of the purchase price and get creative with the down payment. Creative sources such as “a gift from a family member; a loan secured by a marketable asset (such as a certificate of deposit, a 401(k), the cash value of your life insurance, or other real estate); or a loan or grant from a nonprofit or government agency.”

A federal or private grant is the second option Buyahome-no-money-down.com shows to prospective home buyers. The American Dream Act or ADDI provides those types of grants.

Here’s how the program works: You must be a first time home buyer, but that doesn’t mean you haven’t ever owned a home. By definition under the act, a first time home buyer hasn’t owned a home for three years prior to the purchase. So even if you have owned a home before now, you may still qualify.

ADDI provides down payment, closing cost and home rehabilitation assistance, if needed, up to $10,000 or six percent of the purchase price of the home, whichever is greater. To apply contact your local HOME administering agency or the state in which you live.

ADDI is an example of federal assistance, but there are private charities providing gift assistance much in the same way. Those are known as Down payment Gift Assistance programs. Those involve the seller to participate.

Home sellers usually include some negotiating space in their selling price. In a gift assistance sale, the seller agrees to a higher price for the home, and basically, gives a portion of the proceeds back to the buyer to cover down payment or closing costs. Law prohibits sellers from

LIVE THE AMERICAN DREAM

giving home buyers down payment funds, so the gift assistance programs step in to “work around” those laws.

For example, you find a home you want to purchase for $250,000. The seller needs at least $200,000 to pay off his mortgage, so he is asking to make $50,000 profit. But, the seller is also willing to settle for only $25,000 profit. The seller enrolls the home in a gift assistance program at the value of $250,000. The gift assistance program sets aside the $25,000 down payment plus a participation fee. (Homebuying.about.com shows fees are usually 0.75% of the home’s selling price.) The buyer then secures a loan for $225,000 from a lender, expecting a $25,000 down payment. At closing, the gift assistance program wires the $25,000 already set aside, to the buyer as down payment. The seller basically cut his profits in half to give the buyer $25,000 cash down to satisfy the lende’s loan. But, keep in mind, the seller’s bottom line was $225,000 to begin with. From the seller’s perspective, his home actually sold for $225,000, while the buyer purchased a $250,000 home.

Buyer-Seller Negotiated No Money Down Real Estate Financing:

Buyahome-no-money-down.com lists three options for a home buyer under this category. An assumable mortgage allows the buyer to simply assume payments of the current owner’s mortgage. Purchasing Subject to a Mortgage allows the buyer to make the monthly mortgage payments but the original owner is still liable in case of default. If you find a seller willing to finance, the seller agrees to accept all or part of the purchase in the form of monthly payments.

Now time to get creative. A lease option or more commonly known as rent-to-own is one option you’ll find at Buyahome-no-money-down.com. Basically, the seller carries the mortgage and allows the buyer to take possession of the home, while making monthly payments toward the purchase price. The details will have to be negotiated. Some sellers only allow a specific time period for rent-to-own, and some only apply a portion of those payments toward the purchase price. A warning; however, for the buyer: Some sellers require the buyer to find their own financing within a specified time period. If the buyer’s financing isn’t approved, some seller’s force the buyer to forfeit all previously made payments.
And finally, get really creative! Buyahome-no-money-down shows some sellers and lenders allow the ” use a gift from a family member; a loan secured by a marketable asset (such as a certificate of deposit, a 401(k), the cash value of your life insurance, or other real estate” as the down payment.

Nick Rian is an award-winning journalist. His journalism credits include awards from the Associated Press, Wisconsin Broadcaster’s Association and The Milwaukee Press Club. He is a graduate of the Indiana University School of Journalism. You can read more of Nick’s articles at http://www.smarthomefinancing.com and get more information about home equity loans and second mortgage. Look for more information for no money down financing at http://www.smarthomefinancing.com/Refinance.shtml or speak to your real estate professional.

© 2006 Copyright Smart Home Financing

Dordogne was created during the French Revolution in 1790, from the former province of Perigord. It was one of the 83 original departments or areas. It is one of the most beautiful and historic areas in France and is set within the historic region known as Aquitaine.

If you love architecture and enjoy living in an area where medieval architecture is a part of life, then look no further. Property in South West France comes in all shapes and sizes, but because of the size of the area and its past, you are far more likely to find an older property in the Dordogne, just awaiting your renovation skills. The area is steeped in history, and this is reflected in the stunning architecture prevalent throughout the whole of the region.

As tourists to France will already know, this area is jam packed with castles. It is said there are more than one thousand castles including Castelnaud-la-Chapelle, Beynac, Biron and Bourdeilles.

If you are visiting the area as a tourist, prior to tracking down your dream home, then there is plenty to see and do in Dordogne. This area is one of the most popular area for tourists and there is an insatiable demand for tourist accommodation.

Perhaps your dream is to buy a magnificent country house and turn it into an up-market guest house? There is plenty of choice when it comes to different types of property to renovate. Maybe you are searching for a dilapidated barn to turn into a superior type of holiday accommodation? Or perhaps you are seeking the ideal retirement home for you and your family. Look no further, Dordogne really does have it all. As a bonus, this area is easily reached from the UK, so you need never worry about not being able to get back to the UK periodically.

When you visit this area as a tourist, as part of your research, make sure you see the famous caves of Lascaux. These are quite stunning and well worth visiting. Perigeaux has important Roman ruins, including an arena which is incredibly still visible. It is located inside a public park near the town centre.

The north east of the Dordogne is full of lush rolling hills, forests and even prairies. It is often referred to as “Le Perigord Vert”. The Limestone plateaus in the centre of the region are referred to as “le Perigord Blanc”.

Whilst these regions have a great deal to offer both tourist and resident alike, the southeast Dordogne is probably the most popular part of the area and it is here that you will find many prehistoric sites, caves and many castles. This is the ideal place to appreciate some of France’s most stunning medieval architecture.

One of the most interesting and picturesque chateau is Bourdeilles. This medieval chateau was built to receive Catherine de Medici. But when her visit was cancelled building works stopped. Despite being unfinished, this fine castle still dominates the town.

As a relatively unknown, but nevertheless enchanting region in the South West of France, the Dordogne (or as the locals call it the Perigord), really does offer a wonderful diversity of property. The wise purchaser of french property really should get to know the Dordogne area and what better way to do this than visit for three or four weeks as a tourist?