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Essential Buyer’s Guide For Overseas Real Estate
It’s been said many a time that overseas real estate buyers leave their brain on the plane when they step out into the sun in their overseas destination of choice. They’ve already fallen in love with the country, its people, climate and lifestyle...
Is The Hot Real Estate Market Cooling Down?
We’ve been living in the high flying world of a hot residential real estate market for the last three years. Is it slowing down? What does it mean for buyers and sellers if it is? Do buyers and sellers need to change their strategy?
Is the Market...
Location, Location, ... - Not!
LOCATION, LOCATION, ... - NOT!
Untold Secrets of Buying and Selling Real Estate
Owning a home can truly be satisfying. However, with the financial pressures of today's world, getting good value is crucial. These days I am much savvier about...
The Best Way To Buy A New Home While Selling Your Existing Home
Buying a home and selling a home at the same time can be one of the most difficult and nerve wracking of all real estate transactions. Many people wonder how to juggle the selling of one home with the purchase of another. They may be worried that...
The Real Estate Bubble-when Will It Burst?
More and more individuals are realizing that real estate is much safer, and a better return on investment than many traditional investment vehicles. Unlike stocks or bonds, real estate investments can usually be liquidated in order for the investor...
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Real Estate Investing: Beware Of "Subject To" Promises
Another real estate writer's mini course, full of promises and fluff, ended with a "lesson" on why you need to buy his book so you can finance multiple properties "subject to." The reason, he said, "because banks won't let you finance more than ten mortgages."
This simply isn't true.
First, banks let you finance as many mortgages as you can pay for. Some banks limit the number of loans made to one person. Experienced real estate investors just move on to another lending institution.
I know one investor who owns more than one hundred single family homes. All have mortgages. He constantly refinances one rental for the down payment to buy the next. Besides living off the cash flow from his rentals, he also refinances a rental occasionally to take his family on a first-class vacation.
Another investor, my friend who owns the carpet company we use for our fixers, owns more than fifty rentals. None were purchased "subject to" the existing loan. Many were purchased "all cash" for quick closings, with mortgages added later.
For beginning real estate investors, looking for an owner willing to sell their property "subject to" the
existing loan adds a frustrating component to the search for a profitable property. Today's savvy home sellers just won't sell to a buyer who can't cash them out.
Of course, some investors offer "subject to" and lease-option purchases. But, properties with most of the equity stripped out come with payments too high for rental income to support. These properties make better candidates for owner-occupant home buyers with poor credit who don't mind paying more for a house.
Beware of "subject to" seminars, books, and promotions. This real estate investing method worked last century.
Copyright © 2005 Jeanette J. Fisher. All Rights Reserved.
About the Author: Jeanette Fisher teaches real estate investing and credit college courses. Jeanette is the author of "Doghouse to Dollhouse for Dollars" and other books. For a free report, "Design Psychology for Selling Houses," visit http://doghousetodollhouse.com
Source: www.isnare.com
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