A Loan Officer I know was recently contacted by an old client. This client had bought a home a couple of years ago. The client had a cushy job as a sales manager and made good money at the time of the purchase, but since he had just recently been promoted, did not have the two full years of of in
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08/28/2007
With all the wreckage littering the marketplace that used be called Alt-A and Jumbo lending, it's worth taking a moment to think about how a large deal can still be structured. Here's one possibility for 90% financing:Purchase Price: $1,000,000 Conforming First: $417,000 at a rate in the mid 6's.
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08/27/2007
Hearing all the Bankers, who brought us all these, if-you-can-fog-a-mirror-you-can-have-a-house loans, and the Fed, who actively encouraged the banks 'creativity' for years blowing off about all the fraudulant loans reminds me of a classic scene from CasaBlanca (my all time fave- it should be yo
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08/23/2007
Hey There! Until it all gets sorted out, I want you to keep one number in mind. $417,000 Put it on your notepads, jot it on the back of your business card. Tattoo it on your forehead-- in reverse of course, so you see it in the mirror. Under that limit, the Conforming Limit, tremendous things can
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08/22/2007
I posted a while back about our Detroit Rehab Properties and how in 60-90 days, you can retrieve every dollar invested, plus on average, $10,000 TAX FREE, with 20% remaining equity, and positive cash flow. Our listeners from the radio show are snatching them up at a quick pace. In the near future
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08/22/2007
While the Jackson Rehab Properties and even the Rent Ready Jackson properties are attracting numerous buyers, we have been able to develop yet another track for those investors, or would-be investors, who simply want the guess work taken completely out of the equation. For them, we have the Rehab
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08/22/2007
We have been pleasantly surprised by the response to our Jackson Rehab Properties. The properties come with built-in equity, and yet still cash flow. Some of our investors, however, have expressed an interest in eliminating some of the incertainties by acquiring properties where the work is alrea
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08/22/2007
As always, there's a humor extra for those with the tenacity to read all the way to the end. Actually there are two this time around... BONUS! Hey There! My partners and I have been invited to participate in the National Real Estate Investment Expo this weekend at the Los Angeles Convention Cent
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08/14/2007
HOME SALES DATA FOR SELECTED CITIES:CitySFR SalesMedian PriceJune '06 to June '07Median Price May 2007May '07 to June '07Median Price /Sq.Ft.Hemet93$282 -8.36%$279 1.08%$182 Lake Elsinore 57$361 -16.39%$397 -9.87%$212 Menifee 43$370 -12.10%$385 -4.05%$193 Murrieta115$452 -6.01%$426 5.71%$193 Tem
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08/14/2007
Like Detroit, Jackson, MS continues to produce terrific rehab property values. I first posted about Jackson Rehab Properties here (there's a short video there also). I thought it would be worthwhile to post a recent example of how we're using hard money on these Jackson properties to make it poss
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08/02/2007
