All Forum Posts by: Lisa Hoover

@Mahmoud Y. Elhalawany

A 'DDD'eposit (Actually think of it as a DDFee) can be anything-- you can offer any $ amount...

But the SELLER has to accept it.

You are asking the seller to take the house OFF THE MARKET for 20? 30? Days... So most sellers want a 'DDF' equal to a month of mortgage payment, that way it helps cover his costs if you back out for no apparent reason.

If you KNOW the house is paid in full... You can offer ~ $200 DDFee.

You can offer to SHORTEN the DD Period( if the water/power utilities are on , see how fast your home inspector can get there for a verbal pass/fail to you ) To be followed by the written report --BE THERE ON SITE DURING THE INSPECTIONS.

Really you have to see what the seller will accept.

What's important to the seller??

Offer to give the seller a written copy of your written home inspection report too

(even if you back out of the deal)

State your case and present to seller's agent for review..

ASK FOR SELLER TO INITIAL ANY OF YOUR WRITTEN OFFERS he rejects as proof he has seen them!

(PS ALWAYS GET ANY COUNTEROFFERS IN WRITING!)

Ask the seller's agent a million questions!

One factor on the seller accepting your lower DDFee is..

How long has the house been listed? Are there 4 other offers on the table?

Perhaps your's or the seller's

re broker is ASKING you for a $500 DDFee because they want to speed the process to get to contract and $500 is a generous fee to show you are serious about closing.

Do you know if yours is the first offer (have any other offers fallen thru?)

Does the seller have in his possession any prior

HOME INSPECTION reports?

Termite/pest inspection reports?

Have you closely reviewed the seller's property disclosure?

Or did he choose 'no answer' because it's a rental or been vacant?

You have lots of options to negotiate with the seller on this.

Of course in NC, if the purchase makes sense and you go thru with the deal, your DDFee is credited to the purchase.

Hope this helps : )

Lisa Hoover

Charlotte

GREAT NEWS ! May 2017 EB5 I see that Trump family & admin is promoting EB5 investments at $500,000 in May 2017 to China. *****CNN MONEY ****** Kushner family in Beijing: 'Invest $500,000 and immigrate' to US By Jackie Wattles and Serenitie Wang May 6, 2017: 11:56 PM ET The Kushner family hopes to lure investments from wealthy business owners in China with the promise of American visas. Nicole Kushner Meyer, the sister of White House adviser and President Trump's son-in-law Jared Kushner, spoke at an event in Beijing on Saturday. She was marketing a Kushner-owned property in New Jersey -- invest in the development and get into the United States on a so-called EB-5 visa. The EB-5 visa allows immigrants a path to a green card if they invest more than $500,000 in a project that creates jobs in the United States. An ad for the event, held at a Ritz-Carlton hotel, said "Invest $500,000 and immigrate to the United States." ----finally I'm seeing one molecule of value from Trump! Lisa in Charlotte, NC

PLEASE, FOCUS & DO EVERYTHING YOU CAN TO BUY REAL ESTATE BEFORE FALL 2017

and lock in a 30 year interest rate.

Housing Prices in the US will be coming down slightly over the next 2 years as interest rates go up.

NO real estate crash coming....just a strong transition from home ownership to RENTING.

This is what FORBES calls a part of the SUBSCRIPTION ECONOMY. You subscribe to Netflix, Uber,

https://www.zuora.com/vision/subscription-economy/     Please visit  www.Zuora.com a worldwide company with a great website to show you the trend in worldwide business practices--it effects YOU.

...LOW HOUSING INVENTORY will save us from a crash:

"economists believe a housing crash is unlikely

because a shortage of homes coming on to the market"

NOTICED? Builders aren't building SINGLE FAMILY HOMES anymore--

they are building RENTALS...APARTMENTS...MULTIFAMILY. ..on every corner.

---“The counterpart to this trend has been robust growth in the private

rental sector, with 20% of households in England now privately rented,

a record high, up from 12% 10 years ago,” Gardner said.

This is a continued longterm downward trend in American quality of life,

in standard of living. A nation of renters has a different mindset to a nation

of homeowners ...transient renters do not have the same sense of COMMUNITY

and desire to improve their community by being involved in leadership and decisions.

IT IS A TREND BEING QUIETLY GENTLY FORCED ON US ALL.

The FUTURE: Only the people that can pay cash for homes or huge downpayments

& highest credit scores (FICO is also a rigged system against the average worker) will have the

TIME and ENERGY to beinvolved in the Community....to govern-"-to make the rules--we ALL have to live by."

...it echoed a report earlier in the week from the Bank of England,

which said MORTGAGE APPROVALS FELL for the first time in February 2017.

If you are trying to buy a home....DO EVERYTHING YOU CAN TO DO IT NOW.

re read that last sentence...>>>>.mortgage APPROVALS fell. <<<<

The system is being stacked against you as a future homeowner.

DO EVERYTHING YOU CAN TO BUY BEFORE FALL 2017, and lock in a 30 year interest rate.

Stop wasting money on clothes, crafts (women) ,hobbies (Men), CARS and new furniture.

There is nothing more financially important to you than THE HOUSE YOU LIVE IN.

This article sums it up in The Guardian, a UK Publication.  The same is true for the USA.

These decisions about your quality of iife are made by the 1%....You can think of this as a Sneak Preview....watch the limited coverage of key annual worldwide financial summits like Davos, where the 1% meet every year to make sure world finances are following the path they have chosen.

I strongly encourage any of you that desire the financial investment rewards of owning real estate (and the privacy and the freedom owning your own home provides) to focus your priorities and take action now.  Personally, I would rather OWN the smallest house (& preferably NOT in a subdivision) than RENT the nicest penthouse.   

The world is going to the efficiencies of SAS (systems as a service) with automobiles (think Uber-types--you don't NEED to own a car in the USA...you need access to one), software (think MS OFFICE), the list is growing and your future HOME of any price is the most expensive item on the list.

Therefore, it is a priority for the wealthy...to OWN THEM and rent back to you.  

Hi I guess we are all waiting for April to see what the new EB5 capital requirements ARE changing to.

EB5 money is real estate investment money... you can rent the center and do your own investing... you don't have to throw your money into a multi-million $$ NewYorkCity high rise. You can be a part of a $4,000,000 Medical Office Building... something small.

Rehabbing single family homes looks like fun on HGTV but it's a LOT of work, shopping for supplies with workers, supervising workers then open houses to sell or babysitting tenants via property mgmt or worse--DIY property management.

Been there. I don't regret all the life-consuming work I put into single family homes and property management because it was how I HAD to get started (ZERO $ CAPITAL and total care responsibility for our long awaited newborn daughter back in 1998)

IF I had the capital back then, I probably would have done maybe 

2 rehabs / rentals / mgmt. instead of 300. After 2 rehabs-property turn cycles, I learned all I "needed" to know about acquisition, builders, land, homes, HOAs, TAXES, tenants (you really can have a better life NOT being a part of the insane things tenants do where they LIVE vs seeing people at their best where they WORK),  selling, eviction court.

If I had capital of $200,000 or oh my word $500,000 (current EB5 min)

WHY on earth would I put that money into rehabbing $150k or $300k houses

And going thru all of the above?

Spend your time interviewing and learning from developers and construction company OWNERS-- there are some WONDERFUL people out there... until you spend time with LOTS of them you won't know the "good guys" from the "used car dealers"-- find the people that are VESTED and high profile in the community.

I PROMISE ---> you will make 

FAR MORE money and have a much larger POSITIVE impact on "mankind" by taking the EB5 route (creating jobs, learning the efficiencies of running a successful project,  assimilating into the world of American business) than you could ever have in a series of single or multi-family rehabs.

Find and work with people like yourself--people you can TALK to and trust.

If you follow this plan of 2 rehabs (or 2 movein ready single family homes) and investing as PART of a small commercial project ...

FAST FORWARD 10 YEARS.. 2027...

the 2 'buy and hold' single family homes you bought will have more than doubled in value and your carefully chosen SMALL local in your backyard commercial project will be a successful part of the community and YOUR business relationships will have introduced you TO SO MANY MORE OPPORTUNITIES.

Knowing this... 

which path will give 

YOU AND YOUR FAMILY 

the best quality of life 

and really get you to the best 

place in 2027?

Hughes and Best Regards to You,

Lisa

Hi, I agree with Jay.

Usually you can find inexpensive realtor broker pre-licensing courses at ($185 6 weeks of 3 nights per week 6pm to 9pm= 80 hours) at your local community colleges-- you HAVE TO DO THAT!!!

I'd rather explain why on the phone and you do the math of a typical purchase with pencil & paper as i talk you through it.

OK, that aside-- you have a LOT going on so it won't be easy--but nothing worthwhile ever is.  We are talking. LIFE-CHANGING ACTIONS here.

STEP 1-20.

You need to get you personal home rent-ready... not overboard updating, just rentable... clean and painted etc.

Fix any leak faucets, loose doorknobs etc NOW, so that when your PERFECT tenant moves in, they won't be calling you to fix those.

Put in new 5 Year Lithium Battery (write the date installed ON THE OUTER SHELL) of SMOKE DETECTORS (draw faint red stripes across the front outer shell of smoke detectors-- red means fire or smoke-- when the smoke clears (if the house didn't burn down) it's ok to reset the smoke detector and finish cooking dinner.

ON CO DETECTORS (draw faint gray stripes across the front outer shell of a CO--teach your tenant the gray stripes mean DEATH-- if that alarm EVER starts beeping, they are to immediately raise windows , open doors and call you---even if its 2am--- A REPAIR MUST BE MADE or people can DIE-- little children and elderly go first.  : (

ok... so get your house RENT READY.

Being undercapitalized makes getting that first great rental property hard,  but not at all impossible!  You can PLAN ahead and execute this plan extremely successfully.

For you, here's the blood, sweat & tears decision:

It doesn't sound like you are in a position to buy your next personal residence? (only buy a single family home, condo or TH.. NOT duplex , NOT a rehab 1940 bungalow etc)

KEEP IT SIMPLE. YOU ARE BUSY.

If you ARE financially able to buy, great, I will coach you in WHAT and WHERE to buy it.  You can easily rent your current house out and guess what... the tenant will be a reflection of you-- probably another young working family .I will help you set up a timeline so you know what to do when for timing!! so this transition is an opportunity to build your cash fund.. only 1 or 2 days of vacancy AND 0 bad tenants can be tolerated!!.  You have time to plan.

When you have a lease in hand, the BANK/LENDER does not count THE MORTGAGE of your former primary residence against you. So now you can qualify for your next house.

You will have to pack your personal items, and move to YOUR NEXT HOME OR -->APARTMENT.

That's right, if you are not in a position to BUY your next home now-- it is better for you to RENT an apt for yourself AND rent out your former residence ( it just became a great rental property!)

While you are renting an apt~ 8 mos) and scraping every penny into your Property Fund, GO GET YOUR REAL ESTATE LICENSE. 

Then a real earning opportunity will be yours as you are your own buyers agent on your next buy.

So one year from now ,SPRING 2018, you could have a brokers license, some savings built up, a great tenant that probably wants to renew the lease on your former residence (at a slight increase ) and now you are ready to BUY YOUR NEXT INVESTMENT PROPERTY ( it will be your primary residence for at least a year) BUYING THIS TIME LIKE A ***SMART *** INVESTMENT SAVVY REALTOR-- you will never buy like a first time homeowner, again--but you will buy newer, easy to take care of, highly rentable , APPRECIATING properties that attract good quality tenants.  YOU CONTROL EBERYTHING.

***Ok ill be glad to talk you thru this BUYING SMART part, on the phone...you will be amazed at the knowledge and power you have to buy SMART once you activate your Brokers License.

Ill send you a colleague request and we can talk any Tues or Thurs-- i allocate those days for helping beginner investors. Did I mention that I personally have trained well over 100 total beginners (from all over the US and foreign countries!  to get their first

and more US Rental Property.) 

So i've seen about every situation i think : )

It is very fun and very emotionally rewarding for me and a LOT of work for the client-- Take Heart--- each buy and lease-up gets easier, absolutely!!! 10 years will fly by and you'll be so glad you have acquired say 5 quality newer, always rented properties that should have almost doubled in value.  That makes it all worthwhile.

Hi David You didn't say much about YOUR CURRENT PERSONAL living arrangements ? I am writing a soup to nuts book and you seem to fit the profile of my " highly motivated beginner investor" a little debt good credit young family no rich relatives fully employed so if you will please share with me: your current home status? rent? own? for how long ? and is your wife fully employed at home with the children or outside the home? you can pm me if you prefer i'm 60 selling off all of my properties this spring summer and fully retiring and i never did rehabs, duplexes, rough areas, I promise you, there is a way without fear where you control every step and investing meshes with your current lifestyle (vs dominates it) Look forward to guiding you (NO CHARGE) : )

Hi Charlie

Thank you-- that has been the  question all along-- sell the dirt?

or do some basic engineering work that would be common to almost any buyer?

PLEASE tell me if i'm wrong here;

To my knowledge NO COMMERCIAL  BUYER just flat out buys the dirt right??)

There is LOI, CONTRACT with contingencies....buyer due diligence, then WAIT for their contingencies to roll off like successful rezoning

(6mos). then 90 day extension 1

and 90 day extension 2 for something else and that's a YEAR gone by

AND then the buyer figures out ,"eh, it's not going to work for us"

So it seems as if doing some basic site engineering (NOT A SITE PLAN OR A REZONING-- it's a minor conditional rezoning so long as it's in the O-1 code,) could help some interested buyers have a much better idea if what THEY want to put here will work.

Your thoughts. PLEASE!

Hi everyone... and BP does have an EB5 topic category : )

Hi Anthony,

I agree with David it's not difficult (it's work for sure, but not complicated)

The first question you would ask a client is... "are you investing with the goal of obtaining a green card?"

That's an EB5 investor and 99% of Asian clients are seeking that program.

There are a number of ways you can be involved without being responsible for immigration EB 5 paperwork and plans.

Send me a colleague request if you'd like to learn more : )

Hi Karen

GREAT COMMENTS!!

I live in Charlotte NC and as soon as i sell some commercial land here and my rental properties i'm retiring to Bend---but oh my ill need a place to stay for Jan-Feb maybe even March

every year.

I used to live in LA way back in the 80s so i remember Calif insanity prices.

Can you share your thoughts on what 

Central to Northern Ca city that is remotely affordable and safe for an old lady to ride her bike a few miles daily

that has 50 F and above for JFM?

I love Bend, but the winter will be hard.

So i need to rent or buy a small condo to escape to every year 

Thanks so much for your thoughts and pm me if you prefer!