If you have a less than perfect credit history because you could not make past loan payments in time, then finding a remortgage may be difficult. Thus it is not easier for you to avail benefits of a remortgage. Bad credit borrowers are always seen as having risks for any lender. However in the UK now there are many lenders who are more than willing to offer problem remortgage to those borrowers who have late payments, arrears, payment defaults,...more
We probably answer this question for someone a couple times every week. The problem is that they don't have a good formula for determining the most they can pay and still make a profit - so they're scared to make any offer. Here's what we use for single family homes:The (MAO) Maximum Allowable Offer is calculated by first determining what the house will be worth after renovation - the ARV (After Repaired Value); less the rehab dollars required;...more
In the 1990s, dot-com mania swept the nation, and swelling investment portfolios were the toast of the town. The real estate market is surely today's version of that hot topic (Internet searches for "housing bubble" turn up almost one million hits). The public is fascinated and seduced by the enormous wealth potential created by an appreciating asset held by two-thirds of U.S. households. What will happen if this appreciation stops, or worse, if housing prices collapse?How We Got HereHome prices have risen about 11% annually since 2002. Northeastern states lead the charge appreciating about 20% annuallywith the South's 9% annual rate bringing up the rear. Most investors don't realize that stocks have in fact been appreciating more than real estate since 2003. The S&P 500's annual rate of return alone is about 18%. Many investorsstill stinging from out-sized losses suffered during the dot-com crashesunderstandably gloss over the stocks' superior return. Real Estate, for investors reluctant to reenter the stock market, is today's new "hot dot." The cause for real estate's recent growth is twofoldincreased household formation and a declining mortgage rates. The former is an...more
I'm writing this article because I'm weary of all the books being sold that tell people how easy it is to start their own cleaning business. I'm not inferring that all their information is bad, but let's be honest about how "easy" it really is. There's a dirty little secret hanging over the cleaning trade that nobody talks about, but every...more
Most people get into house cleaning to earn some extra money. You may have family, friends and neighbors as your regular clients. Are you ready and motivated to take your part-time business to the next level? Growing any business takes time and patience. And if you have a loyal client base now, set aside a portion of your gross revenue for...more
Is your pet worth $100,000? It may be if you don't make accommodations for it when selling your home.A Hundred Thousand Dollar Pet?A house I'd seen with a potential buyer in an attractive neighborhood built around two lakes sold for $100,000 less than was typical for the neighborhood. Do you know what caused it to sell for that much less? A pet. Actually, two pets. I can hear you thinking, "How can that be? Surely she doesn't know what she's talking about this time. How could two pets reduce the sales price of a home by $100,000? Is that even possible?" I understand your skepticism, but it's true. Let me tell you how I know.When I made the appointment for the potential buyer to look at the house, I wasn't told about the presence of pets. We arrived at the house, knocked on the door, and when no one answered our knock, I got out my electronic key to open the box containing a key for brokers to use. While I was doing this, we began to hear some loud barking from large dog or dogs inside the house. The buyer said she did not want to go into the house with "dogs on the loose." I have to admit I wasn't thrilled with the idea either, so we went on to the next house she was considering....more
You may want to refinance your home for several reasons. 1)Mortgage Rates might be lower now. The biggest reason that people refinance their mortgages is to save money. No matter what has happened to you, there is always a good reason to start...more
Most people think - mistakenly - that if you have credit problems, you have to wait 7 years for them to go away. Well, that's not always true. Credit repair can help you...once you know how to do it. The time to clean up your credit and pay off your...more
Not everyone agrees there is a housing bubble which will have an impact on the entire economy, but how about one that has an impact on you? If your home was devalued, even temporarily, do you have the cash flow to sustain your credit or allow you to...more
Looking for a new home? It's a complex process, but the reward is great - a refuge from the world, a place for entertaining, a comfortable and safe nest for a growing family - a place where you can create the surroundings and decide how to live in...more
First, right off the bat, off let's tackle the "Is flipping houses illegal?" question. Flipping homes or flipping anything for that matter, real estate or otherwise, is perfectly legal. The term has recently been used in the main stream media to...more
Low income housing providers get a bad rap. Be ready to be called a slumlord if you invest in it. Much of what people call slumlording though, is simply providing reasonable housing for those with low incomes. It is of benefit to the renter AND the...more