Troy has written 30 article(s) for the BiggerPockets Blog.
Financing Real Estate by Troy Schuricht | May 15, 2008I talk to hundreds of investors every month and there are some thoughts I would like to share with you on my experiences with investors, particularly first time investors. The question I hear the most for our investors is, How do I to get ready to start investing? The answer for me is two parts. [...]
Real Estate Investing by Troy Schuricht | May 8, 2008The Investor Buying Process 1. Build your TEAM If there was one thing that will make a difference between a good experience/deal or a bad experience/deal…it is your team. Your team could consist of a Real Estate Agent, Mortgage Broker, Title/Escrow Agent, Insurance agent, Home Inspector, General Contractor, Real Estate Attorney, and the list can [...]
Financing Real Estate by Troy Schuricht | April 24, 2008Why use a Construction Loan? Building your dream home or rehabbing your investment properties, though exciting, may present many challenges. Although you may be familiar with the traditional mortgage process, a construction loan includes additional elements of risk. In a typical construction project, the contractor will request funds when work is completed. Many times a [...]
Learn Real Estate by Troy Schuricht | April 18, 2008Due diligence is a term used for a number of concepts involving either the performance of an investigation of a business or person, or the performance of an act with a certain standard of care. It can be a legal obligation, but the term will more commonly apply to voluntary investigations. A common example of [...]
Real Estate Investing by Troy Schuricht | April 10, 2008Just like any other financial market, real estate continually cycles through its highs and lows. There can be great debate on whether the market as a whole has bottomed out, but there is a growing consensus that many markets already have. Either way, now is a great time to start investing in real estate. Here [...]
Foreclosures by Troy Schuricht | April 3, 2008REO stands for real estate owned. This term is used when referring to a home that has gone through the foreclosure process, failed to find a buyer at the auction, and is now owned by the bank. One of the benefits of buying a bank-owned REO property is that investors can purchase the home free [...]
Mortgages & Lending by Troy Schuricht | March 28, 2008Need an incentive to help move a home? The answer is PITI Abatment. Do not let the financial jargon scare you. For years production builders have used this incentive to move inventory. Now every seller/investor has the opportunity to participate. What is PITI Abatement? An incentive to the buyer to have the first 6 months [...]
Flipping Houses by Troy Schuricht | March 20, 2008Banks require a preliminary title report on all real estate transactions. The preliminary title report serves many functions, but one that could cause you to loose a great deal on your next investment is the Chain of Title. Most lenders require a title company to give them a 24 month chain of title. This simply [...]
Interest Rates by Troy Schuricht | March 13, 2008I am asked for advice all the time about financing, and particularly financing for multi-unit investment properties. As I give advice, I outline specific goals of the individual investor and the intent of the property. The multi-unit properties I would like to address are fourplexes, triplexes, and duplexes. These multi-unit properties can be financed as [...]
Housing by Troy Schuricht | March 6, 2008Stated income loans have been a touchy subject for many regulators trying to blame some one for the mortgage meltdown. Some individuals go as far a calling these loans “liar loans” because in a number of instance the income was inflated. Right or wrong there is a need for stated income loan. Self-employed individuals see [...]
Interest Rates by Troy Schuricht | February 29, 2008Negotiating the terms of your loan can be as important as negotiating the sales price of your new investment property. Interest rates and closing cost a huge part of cash flow and return on investment, with the proper due diligent and negotiations, investors can be rewarded on every real estate transaction. What can actually be [...]
Flipping Houses by Troy Schuricht | February 21, 2008What is the process for Hard Money Loans? Hard Money Loans provide Investors access to capital to purchase investment properties. They can fund quickly, typically within 72 hours of receiving the final docs from the Title Company. Hard Money is available for adequately collateralized loans on single-family residential houses and other Real Property including commercial [...]
Interest Rates by Troy Schuricht | February 14, 2008Fannie Mae & Freddie Mac Mortgages Nearly every Bank, Credit Union, Mortgage Banker and Mortgage Broker can offer the loan products backed by the federal charted companies Fannie Mae and Freddie Mac. Investors that have good credit, can document income and are ready to put money down can acquire a loan from either Freddie or [...]
Interest Rates by Troy Schuricht | February 7, 2008While the Fed Funds Rate reduction does not directly affect mortgage rates it does have an impact on the interest rates investors utilize. When we read in the paper about how the Fed has slashed interest rates, the rate that has been cut is the lending rate between banks and other depository institutions. As the [...]
Commentary by Troy Schuricht | January 31, 2008I wanted to give a prospective look into fixing the [tag]mortgage mess[/tag] from a variety of view points. Below is the position I would take if I were given the chance to make the decision: If I were the Federal Reserve, I would help fix the mortgage mess by lowering [tag]interest rates[/tag]. Both the Prime [...]
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How I can fix the mortgage mess
by Troy Schuricht | January 31, 2008I wanted to give a prospective look into fixing the [tag]mortgage mess[/tag] from a variety of view points. Below is the position I would take if I were given the chance to make the decision: If I were the Federal Reserve, I would help fix the mortgage mess by lowering [tag]interest rates[/tag]. Both the Prime [...]