Sam and Pam

Hey, want a cool way to buy property with no money down and no closing costs? Even for an investment property? Did you think that such loans were long gone after the housing downturn? Well, they’re not. At least not for a specific type of no money down loan. Meet SAM and PAM. SAM stands…

Overcoming Shortfalls

Overcoming Shortfalls Conventional loans for investment real estate follow specific lending guidelines and all lenders follow them. Requirements for a down payment or a credit score for instance need to be met or the borrower’s tax returns have been reviewed to show sufficient income in order to qualify. Private money lenders also follow lending guidelines…

Your Treasure Find? or Not?

Let’s say you just closed on your fourth investment property, a cute two -bedroom home that was three blocks from an elementary school. Perfect! After all, households with children are more likely to be young adults just starting out and haven’t yet bought their first home. The property is one of your best properties yet.…

Interest Reservations

Interest reserves are funds issued by a lender to be used to pay the interest accrued when building or buying an existing property. In the course of a construction loan, as construction funds are disbursed, interest will begin to accrue. You, the borrower, have the choice of paying the interest as it builds or borrow…

Back and Forth

Know your Market Because you’re one of those savvy real estate investors that know your market like the very back of your hand, you can identify a potential deal right when it hits the market based upon the initial asking price. If homes in the area are selling for $100 per square foot and the…

Land Contracts

There are loans of all stripes. Loans for cars, student loans and loans for trips to the beach. Regardless of the type of loan, most loans fall into two categories; revolving and installment. Revolving debt is the debt incurred by using a credit card or line of credit where the loan balance rises and falls…

It’s Always Insured

When borrowers obtain a mortgage to buy real estate, they make certain promises to the lender. They confirm that they’ve completed the mortgage application in good faith and didn’t knowingly provide false information. Borrowers agree to make their payments on time and pay the property taxes when due. They also agree to keep the property…

Underwater Help

The program is the Home Affordable Refinance Program, or HARP and lets homeowners quickly and easily refinance their current conventional loan into today’s low rates. How does HARP work?The first requirement is the loan must be owned by either Fannie Mae or Freddie Mac. Even though you send your monthly payments to a bank for…

By The Manual

In order for an AUS to work properly, the loan submitted must conform to previously established rules in order for the loan to be submitted. This information includes name, social security number, income and assets among a host of data points. If the borrower’s social security number is entered incorrectly or the income section is…

Buying For The Market

Part of being successful in the real estate investment business is knowing what to buy and what to sell. That sounds obvious at first glance but by examining the issue a bit further it makes even more sense. You want to buy low and sell high but if you can’t sell the property it doesn’t…