All Forum Posts by: Derrick Sakai

I have seen a site called zillow.com, it's quite a popular site and I think you can find some good ones there.

I think every starter should start with an agent. Although getting your own license can be really really helpful, but it's best to find a good agent until then. This is especially true for people who just stepped into this field.

When mortgaging or refinancing property, there are three types of mortgage options that you can choose from. These are the three basic mortgage options:

• 1. Fixed Rate Mortgages


• 2. Adjustable Rate Mortgages


• 3. Balloon mortgages

Here are a short description of each of the three mortgage types:

Fixed Rate Mortgages: This is what the name suggests, a fixed rate mortgage. The amount of the interest is decided at the time of the loan, or before the time of the loan. The interest rate remains the same for the period of the mortgage.

Adjustable Rate Mortgages: Often known as ARM, this kind of mortgage has a fixed amount of interest for a short period of time(usually from 6 months to 5 years) and then the rates change according to the current market interests. In this process, the lender uses an index, and this adjustment varies based on the lender's policies such as the duration of a single adjustment or the amount. To know more about ARMs, visit this article.

Balloon Mortgage:It's a bit similar to the ARM, because it has a fixed interest rate during a fixed amount of time, except the entire balance of loan becomes due at once after that fixed period of time.

Every loan system has it's own pros and cons and the choices for which one you wish to choose is exclusive to your particular circumstance.

Which one will you choose? and why?

Personally, I would prefer to do what I do best and let other people do the same. This means I would hire someone professional to do the job on that property while I spend the time with my family or friends or just read real estate blogs.

Welcome Brian!
Speaking of a mentor, there are lots of courses available on the RE, where experts in the field share their ways of work. But if you remain active in this site, you will know many a things, and it will probably help you choose the mentor for you.
By the way, are you interested in RE outside your state?

Although I agree to Mr.Champak Shah, but the decision of breaking out of your comfort zone is really worth a pat on the back, because taking risks is often what it takes to make a business in the real estate niche.From what I have learned so far is a little smart thinking goes a long way.

I have not been too much active here lately, but now I am back on business! I hope that you will be benefited from BP, and welcome aboard!

Hi , I found this article and hope this will help.

http://www.biggerpockets.com/articles/25/category

Here's what I found out online about the Myths About For Sales By Owners

http://homebuying.about.com/od/buyingahome/qt/0407BuyingFSBOs.htm

Hi, You may try the book of "Unofficial Guide to
Real Estate Investing" by Martine Stone and
Spencer Strauss. This book is great and has all
the A to Z of Real estate.

The book has its all guide to investing in a Real
Estate industry. It includes all the guides for

a.)"Understanding Real Estate as an Investment
b) Basic Investment Concepts
c.) Investing VS. Speculating
d.) The roots of Lending d.1) Great government
Subsides
e.) Specific Real-Estate Principles-Short term
profits, cash flows , Tax benefits
f.) systematic Approach to Investing
g.) Secrets of Real estate investing
h.)Valuing Property Correctly
i.) Financing your investment
i.1 ) Mastering the -Economy and your target
market.
j.) Broad CAtegories of Real Esate
k.) Seting your investment goals
l.) Planning for the tax Man
m.) the good Faith deposit
n.) The Due deligence period
o.) Removing contingencies in order to move
p.) Verification of Terms
q.) Service Contracts
r.) Changes during escrow
s.)Lining up your financing ducks
t.) Getting Clear Title
u.) Property Management Essentials
v.) Managing the expenses
w.) The Big Picture of Management
x.) Facing you fears
Y.) Sample Real estate Investment Plan
z.) Recommended Reading List , Sample Property
Inspection Report

Note:
This book is available online like on
[MAGAZINE AD REMOVED]

Cye Soriano
Online Relations Manager
Business Builder Ohio Branch
[LINK REMOVED]

John,

I need a realtor in Detroit. I would like to work with you. How may I contact you? I want to work with a new realtor, having problems getting call backs from the busy ones.

Please contact me,
Derrick Sakai
510-750-3952
P.S. I'm on pacific time so call at an appropriate time please :-)