FIRST TIME HOME BUYER TO PUCHASE NEW HOME OR BANK OWNED HOME
The new home builders are starting to market pretty heavy on the benefits on purchasing a new home may be better than purchasing a bank owned property. Why? The bank owned properties require money out of pocket to fix up compared to a new home. It may be a better decision to purchase a new home when being a first time home buyer. Many things come up when owning a home. There is something always to repair. However, purchasing a bank owned property when someone is handy, has time and money.
There are always things to fix in a bank owned property such as:
I am sure I can fill up this post of items needed to be fixed when purchasing a bank owned property vs a new home. We have developed a perfect opportunity for first time home buyers with mortgage rates low, home prices low and the $8,000 tax incentive driving home sales here in the Phoenix, Arizona real estate market. We are at 2002 real estate prices. This opportunity will not last forever as supply continues to decrease and demand increases. Jump into the game!
The new tax incentive program has been offer to people who have lived in their current home for five years or more will be eligible for $6500 tax incentive. I am teaching people to keep their existing home as a rental and purchase another home with low down payment and low rates. Another great way to get into the real estate investing game.
Another great advantage of purchase a new home is it is UNDER WARRANTY.
PURCHASING A HOME FROM THE TRUSTEE SALE
Banks continue to foreclose on properties and sell homes at the trustee sales that are held Monday through Friday at various locations here in Phoenix, Arizona. I have never experienced a market in its current status. However, I do adapt very quickly to service the needs of my investors. The Real Estate and Beyond Team has created a win-win system to assist investors to purchase great deals from the court house steps. Here is a recent picture of successful bidder at the auction this past Tuesday. The owner of this new home was very excited after I informed him that he was the winner of the bid. He was tired of putting in endless offers on properties listed on the multiple listing service.
The investor found my blog on informing investors how to purchase from the court house steps. He called me to obtain more information. We met for an hour to create the plan. Voila, he was receiving houses for the next day at auction. We started to make bids on properties two days later. We continually narrowed our search until we had a set game plan. We continued to place bids on properties that fit the exact criteria. The investor purchased his property in less than two weeks. There is no waiting at the trustee sales. Let's quickly explain the process.
The house in this picture was purchased for $241,500. This house comped between $300-325K fair market value. His total purchase price plus fees came to a grand total of $252,600. Let's take the lowest comp of $300K to figure out his equity in the property. His equity in the property the next day was $47,400. That is a great deal. He is very happy on this purchase. It is going to be his primary property. Now, he took the property down with private money. Then, he will be obtaining conventional financing over the next 120 days. The property must be seasoned for 90 days before obtaining conventional financing-new law as of four months ago in the financing world. They continually pass laws to put a stop to flipping properties.
ESTIMATED REPAIR COSTS ON THIS PROPERTY
The average repairs on a home purchased from the trustee sale average between $5,000 to $10,000 from my experiences.
REAL ESTATE AND BEYOND TRAINING SERVICES trains people on how to purchase nonARMLS properties with a whole process set up for individuals who wish to obtain wealth in real estate over a period of time. We truly believe that real estate is a team sport. We have developed an entire network for real estate investors to be successful. We have connections to private monies to take advantages of these real estate deals. JOIN THE NETWORK TODAY. WE CATER TO OUT OF STATE INVESTORS WHO WISH TO TAKE ADVANTAGE OF THE PHOENIX, ARIZONA REAL ESTATE MARKET.
Real Estate and Beyond hosts a weekly radio show dedicated to real estate investing and training. Feel free to listen to weekly pod-casts click here. We are putting Real back into Real Estate with
Feel free to tune into KKNT 960 AM 12-2PM Phoenix time or streaming from www.KKNT960.comhit live button. Harry D'Elia has been hosting his most popular real estate radio show for the past three years. He gives people real estate information and hope each week.
5 STEPS ON HOW TO SHOP FOR A MORTGAGE
1) Always get 2-3 names of Mortgage Brokers from which to obtain quotes. Make sure to obtain these referrals from a trusted friend, associate or Real Estate Professional and set time aside to call them on the same day.
2) Be prepared to tell the Mortgage Broker about your plan/intentions to purchase or refinance. Have Social Security Numbers, income figures and down payment information handy.
3) Have a general idea of where your FICO (credit scores) are and/or be open to having a new credit report obtained. NOTE: Minimum FHA purchase or refinance FICO is a 620...Minimum Conventional purchase or refinance FICO is a 680.
4) Once you've provided the basic qualifying information to each Mortgage Broker, be sure to ask for a Good Faith Estimate with each Broker's PAR interest rate. This will allow you to compare the interest rate with fees to ensure you are comparing apples to apples.
5) Once you've made your decision based on the lowest rate and the person you trust the most, call them to secure or LOCK IN the interest rate.
With what seems like nothing but pessimistic financial news taking over the airwaves lately, you can be certain 2009 remains the best year in history to purchase or refinance with rates at historic lows!
BLOG AND THEY WILL FOLLOW YOU 250,000 POINTS MILESTONE ACCOMPLISHED
Today, I reached 250,000 points from my blogging experiences over the last eight months. It has been an amazing time since I have started this journey. I love the game of baseball. One of my favorite baseball movies includes "Field of Dreams." Kevin Cosner had visions of building a baseball diamond. Many real estate agents have visions of blogging. However, they do not know where to begin. Kevin Cosner starts building the baseball diamond on his farm. All of his neighbors that he was crazy for building the baseball diamond. Many Realtors in my local market call me crazy for blogging. Are they right? Proof is in the pudding.
I have learned a great deal about blogging and search engine optimization. Furthermore, I have learned a great deal from my fellow ActiveRain bloggers that continue to pump out quality content. I devote 90 minutes per day to my social media plan. One must have a mind set of long term growth. Success comes over time as any professional will confess. I did not obtain 250,000 points over night. It has taken me eight months to get to this level. However, the most important thing to me is to generate quality content for both ActiveRain members and the public. I continually generate traffic flow from my blogs.
I will share a recent success story. I blogged a couple of weeks ago about purchasing a home from the trustee sale for a primary house purchase. Well, I had one person contact me to learn more about this process. I met with this person for about sixty minutes. I explained the entire process to him from A to Z. Well, I set him up and the way he went. We started putting in bids for properties being sold at the court house steps. Well, he won the bid today. He bought a nice Scottsdale, Arizona house for $242,000. The comparative marketing analysis on this home was about $320,000. The buyer thanked me for thirty minutes. We will be closing on this deal by the end of tomorrow. Tell me that I am crazy when it comes to blogging. Yes, I did make money on this deal.
I just want to thank everyone in the ActiveRain Network for making this night special for me. I am here to serve.
REAL ESTATE AND BEYOND INVESTMENT AND TRAINING SERVICES PHOENIX, ARIZONA TRAINING INVESTORS TO PURCHASE TRUSTEE SALES
Everybody wants to purchase real estate at the court house steps. However, many people do not understand the ins and outs of this type of real estate investing. The Real Estate and Beyond Investment and Training Services was set up to teach people to purchase non-AMRLS real estate deals. Many people 55 or older come into my office who want to fix and flip a home to generate income so that they have money to retire on or to live on. We have many deals to pick from in today's market. The mortgage rates are low along with the home buyer tax credits available to both first time home buyers and existing home owners.
TOP 5 REAL ESTATE INVESTOR MISTAKES TO AVOID
Please feel free to click the post I wrote about the top five mistakes made by real estate investors. I have worked with hundreds of investors as a real estate agent. I am here to serve as a real estate mentor and real estate agent for folks that truly want to invest in real estate. I do not have to work with everyone that comes through my door at this time in my business. It must be a two way street or I move on. I love what I do and it shows in my deals. My clients make money-bottom line.
We offer training services to people who really want to learn more about real investing. We had four people who graduated from our training class that ended this past Saturday. You can see from the picture to the right of us that the students are all very happy with the training program. They are eager to complete their first fix and flip in the next sixty days. We offer a hands on training program for all investors. We teach people to do it themselves or hire Real Estate and Beyond LLC for full real estate services after the training program. It is very intensive and educational for three Saturdays in a row.
PRIVATE MONEY FOR REAL ESTATE INVESTING PHOENIX, ARIZONA
The Real Estate And Beyond Network is well known in the Phoenix, Arizona market for getting the best deals. We are teaching investors each week to buy from the trustee sales. We are there to hold your hand through the entire transaction from A to Z. Please visit our website at www.DeliaTeam.com to view the next training workshop or we offer full service each day.
LEARN TO BREAK FREE AND BECOME FINANCIALLY FREE TODAY
SEARCH FOR PHOENIX, ARIZONA FORECLOSURES NOW
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Real Estate and Beyond LLC is a full service real estate brokerage that serves the great Phoenix metropolitan area. Real Estate and Beyond Network is ready to serve real estate investors and buyers.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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