January 2011

So You’ve Gotten a Short Sale Approval Letter… Now What?

by Bill & Jackie Patterson | January 16, 2011

When talking about short sales, everyone focuses on getting an approval letter from the lender. From the day you determine a short sale meets your investment criteria, and you gather the necessary paperwork and submit it to the lender, the primary goal is to obtain a short sale for the client, and get an approval [...]

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Landlord Tenant

How to Be Ruthless With Your Deadbeat Tenants

by Jason Hanson | January 16, 2011

I got a call from a friend of mine early last week. He told me a story that’s probably been told a thousand times and I’m sure you heard it too. A while back he picked up a property that was already tenant occupied and now the tenants aren’t paying their rent. Like many people [...]

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Real Estate

Homeowners Repair Grants and Loans

by John Fedro | January 15, 2011

Repair grants make it helpful for many Americans to make safety renovations and code compliance improvements to their homesteads. The federal government along with many local state and county agencies all have operating loan and grant programs available for home owners in need of making some cosmetic or structural repairs to their dwellings. Like all [...]

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Landlord Tenant

Five Reasons To Get Tenant Referrals from Your Neighbors

by Steve Dexter | January 14, 2011

How you find the tenants that rent your houses can determine how well you do as a landlord. The longer they stay and how well they take care of your house directly affects your bottom line; you lose money on the turnovers and repairs. When you buy a house you are not just buying a [...]

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Real Estate Investing

Are You Investing in Real Estate with Clear Intentions? Do You Have a Plan?

by Marty Boardman | January 14, 2011

Take a look at this picture. What do you see? I mean besides the nice Lexus. Check out the signage. In this store you can get a haircut, sell your gold and electronics, have an alternation done on your suit and get the sole of a shoe repaired. Now that’s what I call one-stop shopping. [...]

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Landlord Tenant

Not Holding on to a Tenant’s Abandoned Property Could Cost You!

by Clint Coons | January 13, 2011

Your tenant has quit paying rent so you serve him a 3-day notice to “Quit or Pay Rent”. Low and behold he does you a favor by abandoning the property. You are ecstatic. What you thought might turn into 2 months or more of lost rental income has suddenly worked out in your favor. You [...]

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Real Estate Interviews

Rob Hahn: The Notorious One Shakes Up the Real Estate Industry

by Ronald Sklar | January 13, 2011

Management consultant Rob Hahn goes by the street name of Notorious ROB, and for good reason. He’s notorious for not sugar-coating his views on the current state of the real-estate industry. If you want hand-holding or a shoulder to cry on, go Google someone else. But if you need some tough love, and a clear-eyed [...]

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Real Estate

The Myth of “No Rehab” Rehabs

by J Scott | January 12, 2011

In the course of a typical week, I get to see and hear about a lot of properties for sale to rehabbers. Inevitably among them are properties advertised by sellers or wholesalers as “No rehab needed” or “Move-in ready condition!” Now, every time I read an email from a wholesaler that says a property needs [...]

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Real Estate Investing

If You Fail to Plan, You Plan to Lose Money

by Kevin Kaczmarek | January 12, 2011

“Charge and Enforce Your Late Fees” That’s the first bit of advice that most seasoned investors will share with you if you’re looking to keep rentals or buy notes. Your late fees are a secondary source of income, but more importantly, they assist you in enforcing your agreements by adding and maintaining consistency. Why are [...]

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Commentary

Foreclosures And The Massachusetts Ibanez Case

by Jeff Brown | January 12, 2011

Sometime in 2009 I began tellin’ whoever would listen, to ask their lender for the original note — especially if they were in the middle of either a loan mod or default. Events have since shown why this would’ve (and has for many) been an effective way to get lenders moving faster than a stalled [...]

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Real Estate Interviews

Justin Schnettler: Using BiggerPockets to Acquire Over $10 Million in Real Estate in Under 2 Years

by Joshua Dorkin | January 11, 2011

Not many people can say that within two years of starting their real estate investing careers that they built a portfolio of property worth over 8 figures, but Justin Schnettler can. This one time engineer has become an incredibly successful investor and his story is one that we will share with you in this interview. [...]

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Real Estate

Short Sale HUD-1 Approval Is Not Just a Formality

by Melissa Zavala | January 11, 2011

At the very end of the short sale transaction, when everyone has totally lost their patience and is thrilled that the deal is finally going to close, the banks generally require a final review and sign-off on the settlement statement (a.k.a. HUD-1). In fact, many of the lenders make that requirement perfectly clear on the [...]

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Real Estate

10 Real Estate Stats from Last Week

by Douglas Lazovick | January 10, 2011

The first week of the new year/quarter/month often sees the release of a lot of statistical data from the the previous period. So, it’s not surprising that a lot of real estate related stats caught my attention last week. Lets take a look: 9.4% – The U.S. unemployment rate fell from 9.8% to 9.4% in [...]

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Housing

Declining Cities, Vacancy Rates, and Forecasting Home Prices: The Week in Housing

by Ryan Hinricher | January 10, 2011

During the first full week of the new year, Reis reported on vacancy rates, we get an interest rate update from Freddie Mac, a 2011 forecast on home prices from RadarLogic, and lastly a study from the Housing Research Institute of America on declining cities. Apartment Vacancy Declines While vacant homes seem to stacking up [...]

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Commentary

How Adversity Can Open Opportunities for your Business

by Bill & Jackie Patterson | January 9, 2011

Everyone is going to encounter adversity, set backs and disappointments in their life, no matter how successful they are. How you handle those challenges can make a huge impact on the direction your life take. Adversity can stop you in your tracks, and turn your life upside down. It can also make you stronger, and [...]

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