Real Estate Investor Purchase Rehab Loan.
There are great opportunities for real estate investors in the market today. This is the best market for real estate investors in our lifetime. Unfortunately financing is not available as it has been in the past. There are options for funding purchase or refinance rehab projects for real estate investors. Whether you are investing in commercial multifamily housing or residential investment properties there are lenders to finance purchase or refinance investor rehab projects. Since no secondary market for this type of funding exist, your deals will fall into one of two categories. Your deal will either be non conforming investor rehab funding or hard money rehab funding.
Non Conforming Real Estate Investor Rehab Loan.
Conforming real estate investor rehab loans do not exist. Conforming means there is a secondary market that will purchase these loans on wall street. The secondary market would have established criteria that all projects would have to conform to. Since this market does not exist the first category of loans are considered non conforming. Any non conforming investor rehab loan funded in this must meet similar guidelines to conforming mortgages. Whether commercial or residential these loans would meet the guidelines as all other loans except they require major rehab and are investment properties. This means the borrower, real estate investor, would need good credit, verifiable income, an ability to repay the loan, acceptable down payment and reserves, and higher licensed bonded contractors to do the rehab. The advantage to the non conforming real estate investor rehab loans versus the hard money loans is that the rate and fees are substantially lower. The dis advantage is that there are many more qualification criteria and it takes longer to get the financing. But if you qualify and have the time it may be to your advantage to get a non conforming rehab loan versus a hard money real estate investor loan.
Hard Money Loans.
Though the rates are much higher and the fees will be from 4% to 10% hard money loans could actually be more profitable to real estate investors than non conforming investor rehab loans. First of all these loans generally fund in 2 to 3 weeks. Secondly, the qualifications are much less and therefore you can do more loans. You may only qualify for a hard money loan when you will not meet the criteria for a non conforming rehab loan. As such you have no option.
Qualifications to get Non Conforming and Hard Money Investor Loans.
Both programs require you to purchase property where the after rehab value is 65% or less. Both programs require you to have an acceptable exit strategy to pay off the lender. Non Conforming rehab financing programs will always require a down payment of at least 20% of the total purchase and rehab costs. Hard money rehab funding programs may or may not require the down payment. Both programs will make sure the contractor or investor has the experience and sometimes licensing to complete the project. So if you have the experience, property, exit strategy and assets you can make lots of money by purchasing and rehabbing investment property.
Wednesday, November 18, 2009
The Pros And Cons Of Becoming A Real Estate Agent by Bruce
Becoming a real estate agent has been a great career move for a lot of different people from all walks of life. You do not need to be salesmen to get the people to buy or sell a home you just need a variety of different skills. The real estate industry is a service based industry and being able to service your clients with the upmost professional is the number one key to your overall success.
There are a lot of real estate agents in the field today that chose their career because they feel it is a very lucrative field and they have the chance to be their very own boss. Still others join because they enjoy helping people. They have the ability to set their own hours and they can build their business in the way that they see them being the most successful. However you must be aware that becoming a real estate agent will take commitment and a huge investment of effort to guarantee your overall success. There are also a few other pros and cons that you should also be aware of when you are looking at becoming a real estate agent.
PROS
1. Control * When you become a real estate agent you are in control of your business because you are an independent contractor. This means you will be able to set your own hours and mold your business into what you want it to be.
2. Income Your income is not based on a certain salary amount and because of this you have a pretty positive chance of making some great money. However you need to be aware that the amount you will have the ability to make will depend on your skills and your work ethic. The more skills you have and the stronger the work ethic the more money you will make.
3. Outdoors * You will not always be confined to a desk as you will have the ability to move around. You will be able to spend a lot of your time outdoors as you are showing your clients prospective properties.
4. Future Business * If you take the time to provide great customer service you will be able to expand your business through referrals and world of mouth.
5. People * You will have the sense of satisfaction of knowing that you helped someone make one of the biggest financial decisions of their lifetime.
CONS
1. Independent * Due to the fact that you are an independent contractor you are on your own when it comes to learning the business
2. Income * There will be times where the money is nonexistent. This is especially true during times when the housing market is particularly slow.
3. Availability * You must be on call all the time so that you are available when your clients need you.
All of these pros and cons need to be considered carefully before you decide if a real estate career is right for you.
There are a lot of real estate agents in the field today that chose their career because they feel it is a very lucrative field and they have the chance to be their very own boss. Still others join because they enjoy helping people. They have the ability to set their own hours and they can build their business in the way that they see them being the most successful. However you must be aware that becoming a real estate agent will take commitment and a huge investment of effort to guarantee your overall success. There are also a few other pros and cons that you should also be aware of when you are looking at becoming a real estate agent.
PROS
1. Control * When you become a real estate agent you are in control of your business because you are an independent contractor. This means you will be able to set your own hours and mold your business into what you want it to be.
2. Income Your income is not based on a certain salary amount and because of this you have a pretty positive chance of making some great money. However you need to be aware that the amount you will have the ability to make will depend on your skills and your work ethic. The more skills you have and the stronger the work ethic the more money you will make.
3. Outdoors * You will not always be confined to a desk as you will have the ability to move around. You will be able to spend a lot of your time outdoors as you are showing your clients prospective properties.
4. Future Business * If you take the time to provide great customer service you will be able to expand your business through referrals and world of mouth.
5. People * You will have the sense of satisfaction of knowing that you helped someone make one of the biggest financial decisions of their lifetime.
CONS
1. Independent * Due to the fact that you are an independent contractor you are on your own when it comes to learning the business
2. Income * There will be times where the money is nonexistent. This is especially true during times when the housing market is particularly slow.
3. Availability * You must be on call all the time so that you are available when your clients need you.
All of these pros and cons need to be considered carefully before you decide if a real estate career is right for you.
Monday, November 9, 2009
Day Trading and Home Values - How The Real Estate Markets Create Day Trading Opportunities by The Guerrilla Trader
Day Trading and Home Values - A Summary
It is widely believed that housing drives the national economy. Supporting this theory is the fact that the current economic collapse started with a collapse in home values.
And after the housing collapse, the stock market followed, taking down millions and millions of American's retirement and investment accounts with it.
Many people believe that the housing sector has reached a bottom, and is headed back up. Indeed, there is evidence to support this believe.
Las Vegas recently reported a record month for number of housing units sold. In some markets, prices are starting to creep back up.
Looking at the markets, it seems that investors believe that things are improving. The Dow recently broke through the 10,000 level again, the S&P is up over 200 points in the last four months.
Despite many companies announcing weak earnings for the third quarter, the market is still holding up relatively well, which is likely due to the believe that housing is recovering.
However, this optimism may be unfounded. One leading research firm, Fiserv, believes that the somewhat good news we've been seeing lately on housing is nothing but a "dead cat" bounce.
Fiserv predicts that the overall median home value in the United States will drop by another 11%+ by June of next year, before finally stabilizing, and perhaps a 3%+ increase the following year.
Find more Day Trading articles and resources, visit The Guerrilla Trader today!
CLICK HERE TO VISIT THE GUERRILLA TRADER
Driving the downward pressure on home values will be a deepening of the foreclosure crisis, which is no where near over.
In fact, the record home sales recorded earlier this year in Las Vegas was driven by investors picking up foreclosed properties for ridiculously low prices.
So what does this mean to Quite a bit, actually.
Right now, there are two forces at play. People want to be optimistic about the health of the housing market, and the economy in general. This optimism is leading to an incline in the markets.
But at the same time, reality is the housing crisis is far from over, and at the same time, third quarter earnings continue to be poor overall.
So what will win out? The general investor's optimism for the future, or the harsh reality of the present?
Either way, the volatility created by the two opposing forces will create unprecedented day trading profit opportunities.
For a day trader, volatility is king. That is where profits are born.
As the housing crisis continues, look for negative housing data to battle with investor optimism in the short term, with reality winning out long term.
Short opportunities will abound going forward. Are you ready to take advantage of them?
THE GUERRILLA TRADER
p.s. Like this article? Share it with your friends on Twitter, Digg, StumbleUpon, and Facebook!
p.s.s. Do you subscribe to The Guerrilla Trader? Simply enter your name and email address at our website to be included on our email notifications list - and get a FREE copy of our e-Book The Guerrilla Trader - Classified Insiders' Report
It is widely believed that housing drives the national economy. Supporting this theory is the fact that the current economic collapse started with a collapse in home values.
And after the housing collapse, the stock market followed, taking down millions and millions of American's retirement and investment accounts with it.
Many people believe that the housing sector has reached a bottom, and is headed back up. Indeed, there is evidence to support this believe.
Las Vegas recently reported a record month for number of housing units sold. In some markets, prices are starting to creep back up.
Looking at the markets, it seems that investors believe that things are improving. The Dow recently broke through the 10,000 level again, the S&P is up over 200 points in the last four months.
Despite many companies announcing weak earnings for the third quarter, the market is still holding up relatively well, which is likely due to the believe that housing is recovering.
However, this optimism may be unfounded. One leading research firm, Fiserv, believes that the somewhat good news we've been seeing lately on housing is nothing but a "dead cat" bounce.
Fiserv predicts that the overall median home value in the United States will drop by another 11%+ by June of next year, before finally stabilizing, and perhaps a 3%+ increase the following year.
Find more Day Trading articles and resources, visit The Guerrilla Trader today!
CLICK HERE TO VISIT THE GUERRILLA TRADER
Driving the downward pressure on home values will be a deepening of the foreclosure crisis, which is no where near over.
In fact, the record home sales recorded earlier this year in Las Vegas was driven by investors picking up foreclosed properties for ridiculously low prices.
So what does this mean to Quite a bit, actually.
Right now, there are two forces at play. People want to be optimistic about the health of the housing market, and the economy in general. This optimism is leading to an incline in the markets.
But at the same time, reality is the housing crisis is far from over, and at the same time, third quarter earnings continue to be poor overall.
So what will win out? The general investor's optimism for the future, or the harsh reality of the present?
Either way, the volatility created by the two opposing forces will create unprecedented day trading profit opportunities.
For a day trader, volatility is king. That is where profits are born.
As the housing crisis continues, look for negative housing data to battle with investor optimism in the short term, with reality winning out long term.
Short opportunities will abound going forward. Are you ready to take advantage of them?
THE GUERRILLA TRADER
p.s. Like this article? Share it with your friends on Twitter, Digg, StumbleUpon, and Facebook!
p.s.s. Do you subscribe to The Guerrilla Trader? Simply enter your name and email address at our website to be included on our email notifications list - and get a FREE copy of our e-Book The Guerrilla Trader - Classified Insiders' Report
Saturday, October 31, 2009
Tips For Choosing a Real Estate Agent by Bruce Swedal
A real estate agent would act as your guide and help you take on one of the most significant decisions you will ever make within your life time. Therefore, it is imperative that you are absolutely sure that he/she has your best interest at heart and will always try to work towards fulfilling your requirements to the best of his/her abilities.
Choosing a real estate agent who will act on your behalf to find you a good deal is a very important decision. One must look into the following aspects carefully before deciding upon a realtor:
*Does the realtor have enough time for you? *Are you sure of his personal integrity and work ethics? *Will the realtor devote enough time and effort for you?
These are pertinent questions whose answers should satisfy you sufficiently. Your satisfaction is crucial in order to safely depend on the realtor about such an important decision. As a buyer, you must feel comfortable at all times. This is even when you have to refuse an excellent deal or move away from the "near perfect" home that your real estate agent may have shown you. It is very important that you do not feel intimidated by the real estate agent and at the same time, he/she must possess qualities such as assertiveness and a high degree of professionalism.
Choosing a realtor is akin to choosing a lawyer or doctor since one does not wish to lose out on a dream house or on a great bargain. The process of short listing or narrowing your search for a real estate agent is most often about how comfortable you are doing business with a particular individual. One has to look out for rehearsed responses and try to get to what the person can actually offer you. The trick lies in not falling for glib talk and going beyond the façade put up by many real estate agents. Most of the realtors are people with integrity, since they are professionals with a reputation to protect. However, what you have to look for in a real estate agent is his/her ability to understand your requirements and deliver accordingly.
Some of the realtors in business would have exceptional sales track records, so probing about their past record may be a good idea in order to asses them. You may also ask for references from individuals who would vouch for the realtor's capabilities on the basis of having done business in the past. Try to shortlist at least a dozen of real estate agents and use your discretion regarding whom to call for reference.
Ask the real estate agent as many questions as you deem suitable.
You may consider asking questions similar to the ones listed below: *For how long has each of the houses shown to you been up for sale? *Which of the houses have had their prices reduced? *How many times were the prices slashed and how much was reduced? *Is the realtor ready with a marketing plan for selling your property? *Would he stick to the plan? *What is the guarantee given by the realtor that you will get an assured good deal?
You may also consider asking if he/she has taken any courses on the real estate business to gauge his/her enthusiasm and passion for the job. Try to see if the realtor's voice sounds monotonous to you. In case you do, then ask yourself if his/her approach is relaxing or whether you would like to hear a more lively and energetic voice.
Last but not the very least, you should figure out whether he/she has good negotiation skills. Ask questions related to commissions as in the event of a house sale; both you and your realtor would have to discuss fiscal matters clearly.
Keep a keen eye on how the real estate agent airs his/her thoughts when you bargain for a reduced rate. If he/she is able to convince you that the fee being charged is fair and that it is commensurate with the amount of hard work that he has to put in to earn it, then he/she surely has the capability to convince other people to listen to their side of the story when seeing to business on your behalf!
Such prolonged discussions would give you the time needed for you to judge the personality type of the real estate agent. At the end of it all, you have to select someone who can earn your trust.
Choosing a real estate agent who will act on your behalf to find you a good deal is a very important decision. One must look into the following aspects carefully before deciding upon a realtor:
*Does the realtor have enough time for you? *Are you sure of his personal integrity and work ethics? *Will the realtor devote enough time and effort for you?
These are pertinent questions whose answers should satisfy you sufficiently. Your satisfaction is crucial in order to safely depend on the realtor about such an important decision. As a buyer, you must feel comfortable at all times. This is even when you have to refuse an excellent deal or move away from the "near perfect" home that your real estate agent may have shown you. It is very important that you do not feel intimidated by the real estate agent and at the same time, he/she must possess qualities such as assertiveness and a high degree of professionalism.
Choosing a realtor is akin to choosing a lawyer or doctor since one does not wish to lose out on a dream house or on a great bargain. The process of short listing or narrowing your search for a real estate agent is most often about how comfortable you are doing business with a particular individual. One has to look out for rehearsed responses and try to get to what the person can actually offer you. The trick lies in not falling for glib talk and going beyond the façade put up by many real estate agents. Most of the realtors are people with integrity, since they are professionals with a reputation to protect. However, what you have to look for in a real estate agent is his/her ability to understand your requirements and deliver accordingly.
Some of the realtors in business would have exceptional sales track records, so probing about their past record may be a good idea in order to asses them. You may also ask for references from individuals who would vouch for the realtor's capabilities on the basis of having done business in the past. Try to shortlist at least a dozen of real estate agents and use your discretion regarding whom to call for reference.
Ask the real estate agent as many questions as you deem suitable.
You may consider asking questions similar to the ones listed below: *For how long has each of the houses shown to you been up for sale? *Which of the houses have had their prices reduced? *How many times were the prices slashed and how much was reduced? *Is the realtor ready with a marketing plan for selling your property? *Would he stick to the plan? *What is the guarantee given by the realtor that you will get an assured good deal?
You may also consider asking if he/she has taken any courses on the real estate business to gauge his/her enthusiasm and passion for the job. Try to see if the realtor's voice sounds monotonous to you. In case you do, then ask yourself if his/her approach is relaxing or whether you would like to hear a more lively and energetic voice.
Last but not the very least, you should figure out whether he/she has good negotiation skills. Ask questions related to commissions as in the event of a house sale; both you and your realtor would have to discuss fiscal matters clearly.
Keep a keen eye on how the real estate agent airs his/her thoughts when you bargain for a reduced rate. If he/she is able to convince you that the fee being charged is fair and that it is commensurate with the amount of hard work that he has to put in to earn it, then he/she surely has the capability to convince other people to listen to their side of the story when seeing to business on your behalf!
Such prolonged discussions would give you the time needed for you to judge the personality type of the real estate agent. At the end of it all, you have to select someone who can earn your trust.
Thursday, October 29, 2009
Why Hard Money Lenders Are Better Than Banks by Samantha Dawson
Are you a real estate investor looking for funds to finance your business? Do you want to secure a loan in only a matter of days? Do you want clear and better terms in repaying your loan? If you answered "yes" to all questions, then you should look for a hard money lender.
That's right. Hard money lenders are the answer to your real estate investing needs. Forget traditional lenders such as banks, whose penchant for giving away loans is as frequent as rain in the Sahara desert. So if you want to have the money to fund your real estate investing business, find a private money lender.
And here's why you should:
1. Hard money lenders base their decisions on deals. This means you can secure a loan from a hard money lender even if you have a bad credit score. Try doing that in a bank! Private money lenders don't care about your credit history. What they're looking for is a profitable deal. And if you can present one, then you have got a deal!
2. You can secure a loan with a hard money lender in a matter of days! Have you ever tried obtaining a loan from a bank? Queued in long lines and talked to dozens of representatives only for your loan to be rejected in the end? Well that won't happen with hard money lenders, who can provide you with the money in a matter of days. What is important is that you present a good deal. If a private money lender thinks that the house you want to flip has a huge potential to be sold immediately, then he will provide you the loan.
3. Hard money lenders could finance 100% of the deal. If you can propose a really good deal to a private money lender, chances are you won't be spending a single dollar from your own pocket to complete a deal. Hard money lenders generally loan up to 70% of a property's after repair value (ARV). So if a property's ARV is $100,000, lenders can lend you up to $70,000, which would cover the purchase price and the repair costs for a house that you bought, say, for $45,000 plus an additional $20,000 for repairs.
4. There are hundreds of hard money lenders out there. Private money lenders can be found anywhere, but they don't exactly post a "Hard Money Lender" sign in their front yards. For all you know, your next door neighbor could be a private money lender. All you need to do is find the correct medium that would grant you access to lenders in your area.
RehabHardmoney.com has been bringing together hard money lenders and borrowers for over ten years. Whether you're a hard money lender or a borrower, the website can provide answers to all your real estate investing needs. Visit www.RehabHardMoney.com today and get that perfect loan you've always wanted. You could also log on to www.REIwired.com to learn the latest techniques in real estate investing.
That's right. Hard money lenders are the answer to your real estate investing needs. Forget traditional lenders such as banks, whose penchant for giving away loans is as frequent as rain in the Sahara desert. So if you want to have the money to fund your real estate investing business, find a private money lender.
And here's why you should:
1. Hard money lenders base their decisions on deals. This means you can secure a loan from a hard money lender even if you have a bad credit score. Try doing that in a bank! Private money lenders don't care about your credit history. What they're looking for is a profitable deal. And if you can present one, then you have got a deal!
2. You can secure a loan with a hard money lender in a matter of days! Have you ever tried obtaining a loan from a bank? Queued in long lines and talked to dozens of representatives only for your loan to be rejected in the end? Well that won't happen with hard money lenders, who can provide you with the money in a matter of days. What is important is that you present a good deal. If a private money lender thinks that the house you want to flip has a huge potential to be sold immediately, then he will provide you the loan.
3. Hard money lenders could finance 100% of the deal. If you can propose a really good deal to a private money lender, chances are you won't be spending a single dollar from your own pocket to complete a deal. Hard money lenders generally loan up to 70% of a property's after repair value (ARV). So if a property's ARV is $100,000, lenders can lend you up to $70,000, which would cover the purchase price and the repair costs for a house that you bought, say, for $45,000 plus an additional $20,000 for repairs.
4. There are hundreds of hard money lenders out there. Private money lenders can be found anywhere, but they don't exactly post a "Hard Money Lender" sign in their front yards. For all you know, your next door neighbor could be a private money lender. All you need to do is find the correct medium that would grant you access to lenders in your area.
RehabHardmoney.com has been bringing together hard money lenders and borrowers for over ten years. Whether you're a hard money lender or a borrower, the website can provide answers to all your real estate investing needs. Visit www.RehabHardMoney.com today and get that perfect loan you've always wanted. You could also log on to www.REIwired.com to learn the latest techniques in real estate investing.
Sunday, October 25, 2009
Whitby Houses by Andrey
Whitby houses are very valuable right now because of the city's rapid population growth. As well, the median income in the city is well above the provincial average, which brings a lot of people to the city to live and work.
Whitby houses come in many shapes and forms, and something can be found for anyone looking. There are luxury lake view condos available, ranch bungalows, as well as the typical single-family dwelling, and the smaller town house. If you are selling in Whitby right now, this is a great time to be selling.
With the thriving economy of the city, and its proximity to Toronto, people are always on the lookout for great homes within the city. General Motors, Sobey's and the Canadian headquarters of BMW all reside in the city, resulting in many jobs throughout the region.
If you are buying a home in Whitby, there are plenty of houses to choose from including many rental properties that are ideal if you are moving to the city for the first time, and are unsure of the best location to buy your home.
Buying big homes is a real investment. When investigating big homes to buy, make sure you are dealing with a real estate agent that specializes in the area. They will know whether or not you are getting fair market value for the home, and whether or not it is worth the money based on the taxes in the area.
It is the same if you are selling big homes. You want to make sure you are dealing with an experienced seller so that they can bring the right kind of clients through your home to make for a quick and easy sale.
Log on http://www.whitbyhouses.com or http://www.bighomes.ca to know more!
Whitby houses come in many shapes and forms, and something can be found for anyone looking. There are luxury lake view condos available, ranch bungalows, as well as the typical single-family dwelling, and the smaller town house. If you are selling in Whitby right now, this is a great time to be selling.
With the thriving economy of the city, and its proximity to Toronto, people are always on the lookout for great homes within the city. General Motors, Sobey's and the Canadian headquarters of BMW all reside in the city, resulting in many jobs throughout the region.
If you are buying a home in Whitby, there are plenty of houses to choose from including many rental properties that are ideal if you are moving to the city for the first time, and are unsure of the best location to buy your home.
Buying big homes is a real investment. When investigating big homes to buy, make sure you are dealing with a real estate agent that specializes in the area. They will know whether or not you are getting fair market value for the home, and whether or not it is worth the money based on the taxes in the area.
It is the same if you are selling big homes. You want to make sure you are dealing with an experienced seller so that they can bring the right kind of clients through your home to make for a quick and easy sale.
Log on http://www.whitbyhouses.com or http://www.bighomes.ca to know more!
Wednesday, October 21, 2009
Make a fortune in real estate by Jessie Frost
You can't be successful in real estate if you don't know two things, your credit rating and your cash flow. You need to know what kind of purchasing power you have. Bad credit isn't so much a barrier as a tool-you need to recognize your limits and know what to do to improve them and work around them. Take an inventory of your income and assets. Know how much time you can
afford to dedicate to this venture. The more capable you are of treating it like your business, the more successful you will be. Know what kind of cash you have available, even if you don't use it. In real estate, you are nothing without your credit rating. This is a big problem that most beginners in real estate have when trying to make deals work. They simply don't know what their credit rating is and sometimes don't understand the importance of it, and therefore don't understand what type of loan programs and financing they can use.
Don't worry-I can show you a way designed for the majority of people out there who have not-so-great to outright bad credit, but who are willing to work hard and stay focused. While bad credit can make it more difficult to obtain traditional financing, it won't stop you from taking advantage of the real money-making opportunities that exist. KNOW YOUR CREDIT
Experian: experian com
Transunion: transunion com
Equifax: .equifax com
You have the right to a free credit report from each agency once a year and any time you've been denied credit and receive a letter from the company to which you'd applied, you can request a copy of the report they used to make the decision. Request a copy of all three, repair what you need to and repay what you have to.
In order to be successful in this business, you need to have contacts. Develop good relationships with your county clerk, a good realtor whom you can trust, an appraiser, a title company, a home inspector, a handyman, and a loan officer. You'll want to have quick and easy access to professionals you trust. You will also want to develop a database of investors, particularly rehab investors. Don't be afraid to advertise for investors even before you have properties available. It's
best to start developing a list of investors so that you have time to begin screening them-and you can be on the lookout for specific properties that will appeal to your investors and make you the quick money.
afford to dedicate to this venture. The more capable you are of treating it like your business, the more successful you will be. Know what kind of cash you have available, even if you don't use it. In real estate, you are nothing without your credit rating. This is a big problem that most beginners in real estate have when trying to make deals work. They simply don't know what their credit rating is and sometimes don't understand the importance of it, and therefore don't understand what type of loan programs and financing they can use.
Don't worry-I can show you a way designed for the majority of people out there who have not-so-great to outright bad credit, but who are willing to work hard and stay focused. While bad credit can make it more difficult to obtain traditional financing, it won't stop you from taking advantage of the real money-making opportunities that exist. KNOW YOUR CREDIT
Experian: experian com
Transunion: transunion com
Equifax: .equifax com
You have the right to a free credit report from each agency once a year and any time you've been denied credit and receive a letter from the company to which you'd applied, you can request a copy of the report they used to make the decision. Request a copy of all three, repair what you need to and repay what you have to.
In order to be successful in this business, you need to have contacts. Develop good relationships with your county clerk, a good realtor whom you can trust, an appraiser, a title company, a home inspector, a handyman, and a loan officer. You'll want to have quick and easy access to professionals you trust. You will also want to develop a database of investors, particularly rehab investors. Don't be afraid to advertise for investors even before you have properties available. It's
best to start developing a list of investors so that you have time to begin screening them-and you can be on the lookout for specific properties that will appeal to your investors and make you the quick money.
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