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Commercial Property Investing

By | detroit, Investment, michigan | No Comments

From Presentation by Malcolm Turner of Castle Commercial Capital at a recent Mega Evening Event: Here, we’re going to talk about commercial real estate investing; specifically discussing properties with five or more residential units.  Some of the key factors that we will go over include how to avoid mistakes that prevent deals from closing & how to leverage multi-family rentals to get into your first deal. Commercial hard-money starts at about $200,000 and goes up to about $15,000,000.  These loans have no FICO requirements and no tax returns, zero doc.s, no debt-to-income ratios and no debt-service ratios. Lenders are looking strictly at the deal; strictly at the property itself – is it a good property or a bad property? That’s what is holding all the cards.  Freddie Mac and Fannie Mae are what we call agency lenders because these loans are insured by a federal agency.  Freddie Mac has a really good program right now; loan amounts are $750K to $7 million. 75 to 80% max loan to value. Typically they like 75 on a case-by-case will go up to 80. Rates right now are about 5-5 1/2 % depending on the deal.  One thing about commercial this applies to…

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DIFFERENT RIGHTS TO PROPERTY

By | property_right, Uncategorized | No Comments

Understanding real estate agreements requires a basic knowledge of what rights or interest to property that are affected by a specific agreement or contract. The following is a basic listing of rights that are commonly dealt with and general descriptions. As it has been previously said in this book, the intent is to provide the reader with a practical knowledge of real estate agreements. The following listing does not represent a complete list of the various rights that can be held in and to real estate, nor does it give a thorough and full description of the rights covered, but it is sufficient for practical purposes. A bundle of rights to real estate could include: a)All the rights, fee simple b)Mineral rights c)Air rights d)Water rights e)Life estate (f)Remainder interest g)Equitable rights 1) Land contract 2) Leasehold 3) Option 4)Pending purchase contract OWNERSHIP- Fee Simple Ownership. This is the highest form of ownership to property. Generally if you have real estate that you have received a warranty deed for, this is what you have. EQUITABLE INTERESTS- These are rights that are acquired by agreement of the owner, without transferring ownership. In other words, if you have an equitable interest in…

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DO’S and DON’TS When Purchasing New Construction Home

By | credit-repair, preconstruction, Uncategorized | No Comments

The vision of a new home with the ability to upgrade finishes, alter floor plans and be the first to occupy a property lures buyers into builders and developers model homes every day. According to industry sources over 70% of home buyers want a new home. These new construction focused buyers might see a picket fence, but they should be prepared to ask the right questions and see red flags before signing on the line.   DO’S Have your own agent. Believing they might get a better deal or out of ignorance many buyers use the developers sales agent to represent them. New construction buyers should research what a dual agent can and can’t do under their state real estate license laws. Most states require written acceptance of dual-agency by both parties. All homebuyers should be represented by an agent who has a fiduciary responsibility to them. Buyers shouldn’t forget that most developers require that your agent must accompany you the first time you visit a sales center. Ask how much is this home as we see it. Models can be filled with every upgrade the developer offers as an example for buyers. Buyers should ask freely how much the…

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Free informational seminar

By | michigan, Uncategorized | No Comments

Loan Programs for Canadians and Other Foreign Nationals Did you know that with a 10% down payment, you can qualify for a mortgage? There is no need to have a U.S. Social Security Number to apply for financing. We can also use a solid credit standing in Canada to help you get an even better rate. We are also licensed to finance properties in all 50 states, also other foreign lands Costa Rica There are several flexible loan programs available for foreign nationals.   Let’s talk about the one that is right for you. Call Your Account Executive, Shannon Baron 416-907-1093 for more info FNLREG4512 Eligible Products Non-conforming 3/1, 5/1, 7/1 and 10/1 Arms. Max Loan Amount $1,000, 000.00 Second home or investment property SFR’S PUD’s and Condos Full and stated doc allowed 6 months reserves required 75% max ltv full doc / 65% >$650k full doc FNLREG4523 Eligible products conforming fixed and adjustable arms Second Home Only SFR and Condo Only Full doc allowed 65% max LTV Reserves + to 30% of loan amount. FNLREGPRIVATE Same as above except for Program and Max LTV Eligible product Pick a payment loans. 70% ltv with exceptions to 75% on a case…

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Online Marketing: Tips on Writing a Press Release

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Michigan Investment Properties, Michigan Real Estate Investors Association, Real estate investing in Detroit Michigan, finding great deals to buy, Real estate training, Michigan Real Estate Investing Seminars, Michigan REIA, REIA, Detroit Real Estate Investorsproperty investing http://www.detroitrealestatenetwork.com http://www.detroitrealestateinvestors.org You can get totally free commercial for your service or your site with a press release. A press release is a advertise about you, your company, gadget or services. A press release is the most reliable direction to make your own absolute credibility.The intent of a press release is to create internet visitors to your website, even better you can use press releases to elevate your client base even if you do not have a website. If you have a business, product or service, that you want to advertise, a press release is a wonderful way to get started. Begin by deciding what your story will be. What do you want to notify the public about? You might be launching a new product or making a improvement in your company that will affect your customers. There are many free press release submission sites on the internet. Simply go to the site, sign up for a membership, fill out your profile, and submit your…

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Wholesaling investment property.

By | michigan, Uncategorized | No Comments

Michigan Investment Properties, Michigan Real Estate Investors Association, Real estate investing in Detroit Michigan, finding great deals to buy, Real estate training, Michigan Real Estate Investing Seminars, Michigan REIA, REIA, Detroit Real Estate Investorsproperty investing http://www.michiganrealestateinvestmentgroups.com http://www.michiganrealestateinvestors.org The unique scale of our Real Estate investing operation exceeded our capacity to effectively manage renovating and marketing all of the properties we were working with. In short, we were finding far more deals than we could handle without considerably re-structuring the business. At one point, there were over 80 properties purchased and waiting for repairs. Holding costs were out of control. Instead of contracting large numbers of new staff and workmen, and thereby working with far smaller margins on each property we worked with, we turned to taking advantage of what we had in a distinct way. Our efficiency in coming across excellent deals produced much more than we wanted to work with. Since then, we now have adopted “wholesaling” property to other investors. Also, we no longer concentrate on rental property as we once had for similar reasons, too many properties to manage without a a lot of restructuring of our business. Consequently, when we now resell to other investors, we…

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Why is REIA important to your success as an investor?

By | detroit, Uncategorized | No Comments

Michigan Investment Properties, Michigan Real Estate Investors Association, Real estate investing in Detroit Michigan, finding great deals to buy, Real estate training, Michigan Real Estate Investing Seminars, Michigan REIA, REIA, Detroit Real Estate Investorsproperty investing http://www.detroitrealestatenews.com http://www.michiganrealestateinvestingseminars.com Several could observe it is real estate “haven” of like minded professionals out to contribute each other on the common goal of real estate investing. A REIA is a real estate investment association. A group formed for the continuing education and networking benefit of its Club members. Real Estate Investment Associations gather often all over the country. They hold there gatherings generally on monthly basis in the night. Guests can ordinarily arrived free to a first meeting or pay thereafter a meeting by meeting charge. Membership is encouraged as these groups are mainly funded through membership. Whether or not you are a new or seasoned investor, membership in your local association is a priority. There exists an old saying it’s not ever too late to discover something new. These meetings are full of rewarding properties investing indicators. Discovering from those who have been in the “investor land mine fields”. Having a place and a setting for putting your dream team together through the…

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Step By Step Guide to Exit Real Estate at Top Dollar Prices

By | michigan, Uncategorized | No Comments

The “Step By Step Guide to Exit Real Estate at Top Dollar Prices” By Ralph Mark Maupin, Mr. Lease OptionMichigan Investment Properties, Michigan Real Estate Investors Association, Real estate investing in Detroit Michigan, finding great deals to buy, Real estate training, Michigan Real Estate Investing Seminars, Michigan REIA, REIA, Detroit Real Estate Investorsproperty investing http://www.realestateinvestinginmichigan.org http://www.realestateinvestingmichigan.com A couple of years ago, I had over 300 rental real estate; I was over-buying more properties than I could maintain. Things were out of control. The following is a Lease with Option to Buy Program; I put together to sell most of those rental properties. �’This Lease with an Option to Buy Program’ resulted in the following: 1. Substantial contract tenants who pay above housing market rent 2. Tenants who are indicating joy in being an owner, and making improvements to the property 3. Sales that would not of happened otherwise, at above market prices Tenants might not necessarily know the meaning of Lease with Option to Buy, but they do know the term, Rent to Own! RENT TO OWN or else known as Lease Options: This is a tool that you will without a doubt want to include in your “toolbox” of…

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REIA of Michigan wants to know What kind of real estate are home investors wanting?

By | michigan, Uncategorized | No Comments

REIA of Michigan wants to know What kind of real estate are home investors wanting? Michigan Investment Properties, Michigan Real Estate Investors Association, Real estate investing in Detroit Michigan, finding great deals to buy, Real estate training, Michigan Real Estate Investing Seminars, Michigan REIA, REIA, Detroit Real Estate Investorsproperty investing http://www.michiganrealestateinvestorsassociation.org http://www.REIAMichigan.com Over time I have determined that the majority investors desire mortgages that will provide them loans that include dollars for rehabilitation and renovation of investment real estate. There are a great deal of investor systems provided by thousands of mortgage companies. Some Mortgage Companies have programs that will loan funds as part of the loan package money for rehab and renovation. Some have programs where they start escrows for rehabilitation and improvementss and have inspections on the work in process in order to get the next draw. Because of the vast number of rules and with lenders all having unique policies we are now increasing disclosures in all of our properties purchase agreements and connected forms to assure buyers are using lenders that have programs that work for borrower (buyer), seller, realtor, wholesaler and lender. People now utilize the following disclosure language in our purchase agreements, addendums, assignments,…

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