If you’ve ever asked yourself “What the heck’s a HELOC,” then you’ve come to the right place! There are two types of home equity borrowing: home equity lines of credit and home equity loans.
A HELOC, or Home Equity Line of Credit, is the right to borrow money from a lender up to a certain amount [...]
Category | Training
Should I use a HELOC
Posted on 19 May 2010
More Real Estate Terms Explained: Mortgage Terms
Posted on 15 May 2010
I wanted to take one blog to go over just a few more terms used by folks in the Real Estate Business, particulairly with regards to mortgages. This is by no means an exaustive list, but as we all know knowledge is power, and whether youa re a first time home buyer or a seasoned [...]
Real Estate Terms Explained: BPO
Posted on 09 May 2010
Broker Price Opinion (BPO)
When a bank has to take a home back in a foreclosure, they will want to know what the house is “basically” worth. Many real estate agents and brokers supplement their commission income by doing BPOs, or Broker Price Opinions. Though the income from an individual BPO may only be between $50 [...]
“Subject To” in a Nutshell
Posted on 01 March 2010
Today we took another house for free. The process, for those of you not already educated about these sorts of transactions, is known as a “Subject To” deal. “Subject to” means that we took the home subject to the financing already in place. This is probably the BEST method I know of for getting a [...]
Deals that Aren’t
Posted on 20 February 2010
One of my wholesaler bird dogs sent me two “deals” that I wanted to put on the blog as yet another example of what NOT to do. I figure people learn just as much if not more from the stories of the deals that don’t work as from the deals that do. You will see [...]
Making Money with Real Estate: Part 2
Posted on 02 January 2010
Here is part two of the post from yesterday. These methods are among the ways that Real Estate Investors such as myself make a living. We don’t count on things like Equity or apprciation, but make our money upfront.
***************************************************
The Other Six – For Investors Only
These are among the subjects that I teach in my courses [...]
Making Money in Real Estate: Part 1
Posted on 01 January 2010
For the start of a new year, I figured I would go back to basics and post some bits and pieces of the training I have written in the past. Sometimes we get into bad habits, myself included, and need to go back to the basic fundamentals of our business and revisit them. This post and the [...]
Wholesaling from the MLS?
Posted on 29 December 2009
The other day I had a “so called” wholesaler email me regarding doing a wholesale flip through a realtor. He is starting to feel some economic pressure lately as his regular day gig went away, and he is trying to make it doing wholesale deals full time. I applaud his tenacity, and I am a [...]
Taking Back a Second Mortgage
Posted on 28 December 2009
“Taking back” a second mortgage when you buy a home and the seller “loans” you some of the money they need in order to buy the property This can be both an effective selling tool and a good “investment”, however, if the transaction is not handled properly, it could be an expensive and major financial [...]
Should You Use a Realtor?
Posted on 24 December 2009
Are there houses to buy that realtors don’t deal with?
Holy Smoke! Once again I am AMAZED by the morons out there! I came across this question at http://answers.yahoo.com while doing a search for something else. Although the question is a good honest question the answers are such a blatant billboard to stupidity that I feel [...]
