All Forum Posts by: Jim Gordon

The lenders that you are talking to may be offering a pay option arm which for someone with no income and no liquid assets could be a very risky thing. By the way with no income no legitimate lender will make a loan on real property. To learn how a pay option arm works you can click on the link.

http://mortgage-x.com/library/option_arm.asp#Minimum_Payment

If you are working the southside and southern suburbs I can help. Middletown, Franklin, Springboro. Dayton central or north is out of my regular area and if you would like I can get one of my contacts to help you there. Just hit the link to my website and give me a call or email me.

One thing that would help is if you would say what state you are in. A big question to ask is if you have lake rights. Some developements are being put up that the lakeshore owners do not have the right to acces the lake from their lot. They must use the common areas to use the lake. Good luck and review the hoa documents carefully.
Also a misconception, in Ohio the only agent representing the seller is the sellers agent. The buyers agent would represent the best intrests of the buyer. The dual agent of the brokerage would be the broker in charge. With 1800 agents and 23 offices in the company I affiliate with the broker would not know me if he ran into me in a store.

No the desk fee is how the broker makes their money. You either pay a desk fee or get lower split.

When you post an article please referance it otherwise you plagerize!

http://ezinearticles.com/?Rental-Housing-Predicament&id=291688

First rule of thumb for a small investor is to live within 15 miles of the property and manage it themselves.

Welcome and learn REO now as in the next 18-30 months it might get pretty interesting.

Please make it original
http://www.toprealtynews.com/realestatenews/id_27884/

don't plagerize

A resource that you are missing is an investor in your area. Work one project with them and build your team as you go. There will be things that you are not expecting that will come up durring a rehab. Do not approach the investors team to work with you without their permission. Get some hands on experience before you jump in with both feet. Don't get dealitis that is the quick way to get into trouble.

Watch your appraisals I currently have a buyer set to close next week contract price low 400k appraisal low 500k been on the market for 100+ days. basement just finished with a media room that the owners never used as it was finished 2 weeks before they got relocated.

Property that I am working on 165k outstanding loan, bank appraisal 180K. On a good day to the right person if the sun is in their eyes it might bring 140K after it is connected to city water, it has a cistern currently. Property is over 100 years old all the comps on the appraisal are under 15 years old.

Bank says no short sale yet property is worth 180k!