Guide to Buying Real Estate

May 29, 2012

This is intended as a practical short guide, not as a course or comprehensive article about buying real estate. For the latter I highly recommend the Rich Dad Poor Dad series of books & courses which are inexpensive and full of insight. This article is also more geared towards the purchase or residential real estate by potential homeowners or residential investors. These concepts are totally applicable and remain the same in Commercial real estate purchasing and investing, only the nomenclature and procedures differ somewhat since more work is needed to obtain the information. Value in Real Estate: We look for...

Are You Facing Foreclosure?

May 22, 2012

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To "Foreclose" in the original sense means "bar someone from redeeming a mortgage". It means to stop, prevent, rule out or prevent a course of action, in this case, prevent the mortgagee (home owner) from redeeming (making good) his mortgage and take possession of the mortgaged property. The word comes from Latin "for" meaning in this case "out" plus "clore" to close. This is a right that is stripped from the homeowner in favor of the lender, then and only then can the lender take possession of the homeowner's property. In other words, the homeowner has the right to make...

How You Can Sell Your Property Faster

March 20, 2012

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Theoretically we all have access to properties being sold thanks to the Internet. In addition there are real estate companies who for a small fee, offer to do all the paperwork and you therefore "save" on the commission that otherwise would go to a real estate agent. There is also a very famous real estate website which offers to rebate 40% or more of the commission back to you via a discount. It seems as if it is just a matter of finding the property you like then buying it. It seems as if technology has made human assistance unnecessary....

How to Get the Best Deal on a Property

May 18, 2011

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As you noted from the title, I did not say the best “price”, I said the best deal! Big difference. Is it a good deal to buy a cheap house located in a bad neighborhood which requires thousands of dollars to rehab? What about a really good priced home which consumes all your savings, because you had to give a hefty down payment, which then needs extensive repairs to be habitable? When I talk about a good deal, I mean a very well priced home, in a decent neighborhood which needs minimum repairs, where you can negotiate the price &...

How to Do A Short Sale

June 23, 2010

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What is a Short Sale: The term “Short Sale”, to “sell short” means exactly that, when you sell for less. The World Book Dictionary defines “short” as used in this sense as “not coming up to the right amount, measure, standard, etc... The cashier is short in his accounts.” From the point of view of the bank, selling short means that the bank is going to get less money than what is actually owed on the property. Because of this reason, the bank has to agree to you selling the property for less than what is owed. The advantage for...

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