All Forum Posts by: Jim Gordon

Intrest rates can normally be bought down (read pre pay some of the interest) but rates are always higher on non owner occupied RE loans. It has to do with the risk, if you can'tmake a payment are you going to pay on your primary residence or on your investment?

Everyone involved needs to talk to CPA, there are other taxes than property taxes. Investigate the federal gift tax and structure the transaction so that does not kick in.

Shop for another lender there are thousands of them out there and someone will give you a refi.

Get a local realtor as part of your team and they can help you by not only telling you if a property is under contract but also inform you of when new homes come on the market.

Another way to look at it is he makes money if you invest using him. If you invest in RE you will mosy likly pull money out of the accounts that he has recommended to you and he will lose income.

My financial advisor does not like real estate but as an investment it is hard to beat if you have done your homework. I have one property that I purchased with 32,000 down and after debt service and expenses it returns 12,000 a year. I asked him to find me a return like that and he can't.
The problem is that he understands investing in companies and I understand investing in myself.

There is no one national or even local company that is the best for eveyone. To find the best fit for her she will have to interview many brokerages in your area. Also don't just go on the franchiser name one franchiser in my area has 10 different offices that thay have sold franchises to. Shee need to find the level of commission split, company fees, company support, and training that she needs to become a good agent. By the way most agents quit within the first 2 years so be sure to look at up front costs and promotional costs to get going with and don't count on any income for at least 6 months after she starts maybe a year.

That sounds great Mr. Ponzi where do I send my 25,000 to get 100,000 back in 3 years and do you accept cash?

"A. Remodeling/ repairs to kitchen (including and not limited to cabinets, floor, walls and plumbing) are the sole responsibility of Lessee.
B. Installation/ repairs to heating and air system (including and not limited to duct work, vents, filters and furnace) are the sole responsibility of Lessee.
C. All installation, maintenance, repairs and alterations to premise are the sole responsibility of Lessee.
D. If Lessee chooses not to exercise option to purchase, all installation, maintenance, repair and alteration projects must be completed before lease expiration. "

I would sure like to know how this turned out because it sure appears to me that the tenents agreed to remodel the home.

The commission is part of the listing agreement and if you are unrepresented in the transaction the listing agent gets the entire agreed upon amount because they are also doing the buyers agents job. Finding a property is sometimes the easiest part. On some properties like Freddie Mac right now if you use a registered agent you can get a 1000.00 bonus towards closing costs. Also the agent that lists the property owes all their loyalty to the seller so I would always recommend that you work with someone you trust.