Everything Else

Hi guys! I will be home this summer from overseas contracting to begin my journey. Are there any Boots on Ground Events lined up? I'm located in the Atlanta, GA area and will be interested to participate in one.

Thanks DG fam...

Whew, what a morning it has been since 10am.
I got a home under contract and my initial buyer walked away cause it needed too many repairs. So I scheduled an appt to meet with two buyers at the house and one was a very serious willing to try and assume the mortgage and think of everything we can do to get this deal done!

But then the other "buyer" shows up.. And ended up being a REALTOR!
She thought I was the original owner cause she seen my zillow ad with the help of Postlets and started questioning me on everything I was doing. Keep in mind the SELLER, TENANTS, AND OTHER INVESTOR BUYER were all there too.

Market Improvement Sputtering
Much of the price improvement in housing markets in the previous quarters has been due to investor competition for dwindling inventory, with investors buying more than 30% of all homes purchased. That pressure is waning, and new home sales are down a lot as well. The economy is making it difficult-to-impossible for many to afford a home. Inventories have risen for the first time since the bust to six month levels.

Millennial Home Ownership is Dismal

Refinancing is an important and sometimes critical exit strategy for real estate investors. While some investors’ strategy is to buy and sell, there are no guarantees in the world of real estate investing. Keep the following tips in mind for an easier refinance.

Document Your Rehab

Keep records of your rehab project financially with receipts and pictorially with pictures of the improvements made. These items may be needed to help the appraiser justify the increased value of your rehabbed property to the lender.

Appraise before you list

This is an article I found on CNNmoney. It talks about how 43% of homes sold were bought with cash last quarter. This also hits an all time high for percentage of cash buyers in the market. A lot of cash buyers are also coming from foreign markets.

All-cash deals hit a record 43% of home sales during the first three months of 2014, according to RealtyTrac. That's up from 19% a year earlier and the highest level reported since RealtyTrac began tracking the deals in early 2011.

The jump is due to two main factors: strict lending standards that make it difficult to get a mortgage and intense buyer competition.

"Inventory shortages, as well as lending regulations favor the all-cash buyer," said Chris Pollinger of First Team Real Estate in Southern California.

Real estate agents can be amazing resources for the investor, but you need to understand their motivations and make your relationships win-win for both of you. The typical real estate agent may have taken anywhere from 30 to 100 or more hours of training, passed their real estate exam, and signed up with a broker for support and management. This isn’t a lot of training for the real world of real estate. Their actual skills and marketing abilities grow over time, or they leave the business.

I was just wondering... How do you have your business website set up?

Here is a simple outline for those that are trying to get in their mind the assignment process.

1. Have a good buyer's list.
2. Find a good agent or agents.
3. Find properties that have repair needs, a motivated seller and are vacant.
4. Make your offers in the name of your LLC and/or Assigns.
5. Get a house under contract.
6. Contact your buyers with the info on the house.
7. Schedule your buyers to see the properties during the due diligence
period.
8. Sign an assignment contract with a buyer.
9. Get all paperwork to the title company.
10. Pick up your check.

This list is a general outline. There are other details within the steps. However, this should help give you a better understanding.

Here is a simple outline for those that are trying to get in their mind the assignment process.

1. Have a good buyer's list.
2. Find a good agent or agents.
3. Find properties that have repair needs, a motivated seller and are vacant.
4. Make your offers in the name of your LLC and/or Assigns.
5. Get a house under contract.
6. Contact your buyers with the info on the house.
7. Schedule your buyers to see the properties during the due diligence
period.
8. Sign an assignment contract with a buyer.
9. Get all paperwork to the title company.
10. Pick up your check.

This list is a general outline. There are other details within the steps. However, this should help give you a better understanding.

Does anyone know, or perhaps Michael Mangham is reading this, what Michael means by the LLC assignable contract. He said he had the same LLC for years, but don't you sell the LLC when you assign your deal. I am missing how this works. Thanks, Tammy