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Real Estate Course

Real Estate Course

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Published by Manal Hanifi

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Published by: Manal Hanifi on Feb 04, 2012
Copyright:Attribution Non-commercial

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HOW TO INVEST IN REALESTATEWITH NO MONEY DOWN
… and minimum risk!
By:Milt Tanzer
Copyright 2002 by Milt Tanzer. All rights reservedThe information contained herein has been compiled from sourcesbelieved to be reliable but is not warranted. Every effort has beenmade to present accurate and useful information based on real worldinvestment practices.The author hereby grants you the right to reproduce this ebook, in itsentirety, and distribute it in any manner you wish, provided:It is distributed in its entirety and not altered in any way. Allinformation contained in this ebook, author name, website addresses,etc. must remain in the distribution copy. You are free to give theebook away or sell it and retain 100% of the profits you collect.
 
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HOW TO INVEST IN REAL ESTATEWITH (little or) NO MONEY DOWN…and Minimum Risk
Introduction 6Chapter 1. The Importance of Attitude, 8Perseverance and FlexibilityChapter 2. What to Look For 12Single Family HomesCondosDuplexFour Unit Complex…or LargerStrip stores, office buildings, warehouses, etcSlums (example)12 Unit (example)What to AvoidSingle purpose buildingsApts. – Furnished vs unfurnishedChapter 3. How to Locate a Suitable Property 20Legwork, Time and AttitudeMotivated SellersOwner transferredDeathForeclosureRetiringHealthDivorcePartnership disputesTalk to Banks and other LendersChapter 4. How to Analyze the Area 23Drive aroundCheck out condition of properties in areaCheck the area in generalChapter 5. How Analyze the Market 26Chapter 6. How to Find a Motivated Seller 29Get to know the sellerGet the seller to know youWhat does seller intend to do with proceedsDeed in lieu of foreclosure
 
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Chapter 7. How Analyze the Property 33Gathering InformationAnalysis Program (IPP)Chapter 8. Ways to Finance the Property 39Understanding how a mortgage worksSeller financing (#1 choice)No closing costs on mortgageMore flexible on terms and ratesMore motivated to negotiateTalk to Banks and other LenderUnderstanding how lenders workBe prepared for rejectionHave your presentation readyProperty DetailsYour Financial StatementProperty Financial statementIntended improvements and costsMarket detailsPhotos of propertyYour track record (if you have one)Bank discounting their mortgageInterest moratoriumPayment moratoriumExtend term of mortgage to reduce monthly pmtsFinancing AlternativesNormal Amortized loanInterest only mortgageAdjustable rate mortgageGraduated payment mortgageBalloon mortgagesWraparound mortgage or(all inclusive deed of trust)Land leasesCombine financing approacheswith multiple mortgagesSale/LeasebackAssume seller obligationsCautions on FinancingTerm of loan and balloonsGraduated interest ratePre-payment penaltiesNon-assumable loansLoans assumable at a revised interest rate or termsNo pre-payment allowedVerifying present mortgage balance and terms

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