How to Wholesale Properties

Wholesaling can be a great way to get some extra cash and get into investing in real estate. Wholesaling real estate investing can be a difficult thing. In fact, dealing with wholesale properties can be something that you need to learn about first. A wholesale property is one that is sold wholesale. Wholesaling can be done even if you are not sure how much you are going to have to pay to repair the property, or how much you will get from the home or for rent. As long as it is a good deal, you can wholesale as many properties as you want, without worrying about it. Wholesale real estate is a great deal because you can buy properties cheaply, and also sell them for more money. However, in order to be involved in wholesaling real estate, you need to know a few things, and have a little bit of help.

The best way to get started is to team up with someone who already has closing deals, and who has a list of buyers.They can help you find wholesale houses. If you are looking for wholesale homes, someone who knows what they are doing can make the best influence for you. This can be the best way for you to make sure that you are getting the best deal. You will want to be sure that you can get a great education when it comes to properties, because this will let you have the best control over what you will be doing with them in the future. The person that you team up with can help you in many ways. They can make sure that you know what the sales terms are, and how to negotiate for good ones.

Wholesale real estate investing is something that requires skill. You must look at the purchase price in order to be sure that the wholesale real estate meets your criteria. In all, wholesaling properties can be quite trying, but if you find the right wholesale property to match what you are looking for, you'll be able to buy it cheaply and sell it for more money. Wholesaling real estate is about being in the right place at the right time, and taking advantage of the deals that you do find. Wholesale houses often come to you very quickly, so be ready to buy wholesale homes with no delay. Remember, if you are going to be in the business of selling and buying homes, make sure that it is your priority. Get yourself some business cards, flyers, and everything else that business owners need, so that everyone knows you are serious about it.

Be sure that you are making offers that aren't too high. Don't put down the seller or the property, however. Figure out some tactful ways to make your offer without offending them. Remember, you can always go up on your offer, but you can't come down again.

It is important to also know a little bit about finding buyers. You want to start building your own buyers list as soon as you can. This should be a list of people who are good buyers. You can either use this list on your own, or continue to work well teamed up with your partner. You have to use your own judgment as to when it is a good time to leave your partner.

The best way to be serious about wholesaling is to form a corporation to use for it. This will help so that the IRS doesn't se you as a dealer with your name. Having a corporation will make sure that you have the benefits that you need when you start to hold properties and your own.

Julian Lee is a active Real Estate Investor and Internet Marketer in South Florida. To learn more about real estate wholesale investing visit http://learn-how-to-wholesale.com/

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How to Rent a House to Own

Rent a house to own can be a great way for your family to get into your dream home without crashing your families finances. This is not a new concept although we may see more of these contracts taking place with the ongoing housing market problems.

Who is a rent a house to own for? Well it can be a great plan for anyone but more specifically it is a great opportunity for those with blemished credit or who are low on cash for a down payment. This can also be an opportunity for those who are in the military or someone living in an area for a short time but wants to make an investment with their rent. This can be the perfect situation for the handyman that can trade his skills for a down payment on a home.

You can find the homes that are available as a rent a house to own through the seller. These are not typically found listed with real estate agents although there are agents that do specialize in a rent to own home. One website that you can either list your home you currently own on as a rent a house to own or you can pick from the homes they have a available as a rent a house to own option.

It is important if you are looking to rent a house to own that you are aware of the pitfalls that might occur. This can be a great option to get you in a home faster but there can be a downfall. In a rent a house to own you are entering into a contract. It is important to carefully read the contract. There have been cases where the sellers are evicting rather than selling and making even more profits from the home.

In a rent a house to own contract you will be paying a little higher rent or a little more than a mortgage would be. This is because you will be paying the normal renting fee plus an option to buy fee. Typically this fee and possibly even a portion of the rent will go towards the price of the home. The seller will give you a time frame as to when you must be able to secure a loan to buy the property. This time frame is usually a 3-5 years. This will give you ample time to repair your credit and even save a larger down payment. If you are unable to secure the loan at the end of that time period than all fees collected during the time period stay with the seller and are a loss for the buyer. So basically you are betting that you will be ready to buy a home in 3-5 years when you enter into a rent a house to own contract.

To find a rent a house to own in your area you will have to do a little leg work. These homes are often advertised in the local papers or even in want ad or websites like Craigslist. There are also websites like the one I mentioned earlier that will list rent a house to own for the seller much like a real estate agent. When choosing to rent a house to own be carefully to read the contracts thoroughly and even consult a lawyer or agent to help you negotiate the contract and ensure you are entering into a contract that you can make a winning bet on.

Julian Lee is an experienced Real Estate Investor and Internet Marketer from South Florida. To learn how to rent to own for a profit go to http://renthouse2own.com.

How to Negotiate Foreclosures and Short Sales

Bank Loss Mitigators: How to Negotiate Foreclosures and Short Sales by Simon Volkov

Bank loss mitigators work with homeowners who are trying to save their home from foreclosure. In essence, the loss mitigator is the middleman between the bank and homeowner. Their job is to devise a plan to keep homes out of foreclosure that is agreed upon between the homeowner and lending bank. The bank loss mitigator cannot approve or deny a plan. Instead, they use gathered information to suggest a plan to the bank that would be in the best interest of both parties.

Bank loss mitigators use information supplied to them by both the homeowner and bank to determine the right course of action. The information collected can include mortgage payment amount, delinquent payment amount, proof of income, list of the homeowners expenses and debts, foreclosure hardship letter, and tax returns.

A foreclosure hardship letter is written by the homeowner to explain the circumstances which caused them to become delinquent on mortgage payments. The hardship letter should also include if these circumstances are ongoing or if they were temporary. The bank loss mitigator uses the letter as a reference to devise a plan for the homeowner. The information in the hardship letter should be factual and detailed.

When homeowners are able to become current on their past due mortgage in a reasonable period of time, bank loss mitigators can devise a loan modification. This type of plan allows borrower's to make payments on the past due amount in addition to their regular monthly payments.

For example, a homeowner is three months behind with a monthly payment of $700. The bank loss mitigator establishes a plan that over the next 10 months, the homeowner would pay their regular monthly payment and an additional $210 to payoff the past due amount. As long as the borrower makes timely payments, a loan modification can stop foreclosure proceedings.

Bank loss mitigators can assist in negotiating a short sale of the real estate if homeowners are financially unable to continue payments on the home. A short sale is when the lending bank agrees to accept an offer lower than the amount owed. For example, if a mortgage balance is $200,000 the bank might agree to accept $190,000 for the home. A short sale approval can help the homeowner salvage their credit and the lending bank cut their loss.

It is important to remember bank loss mitigators do not make final decisions. They review provided information and devise a plan that will be beneficial to both the homeowner and lending bank. A short sale or repayment plan must receive final approval from the bank.

Private real estate investors can help individuals facing foreclosure. Borrower's can sell their home to investors once they obtain short sale approval from their lender. Short sales can be less detrimental to the homeowner's credit score and minimize losses for the bank.

About the Author

Simon Volkov, private investor, helps individuals with short sales, foreclosures and working with bank loss mitigators. Learn more about services offered by visiting www.SimonVolkov.com.