And I’m STILL waiting for the seller’s 2007 tax returns. In the mean time, I’ve been working on getting my financing squared away. What a nightmare this is turning into. Before I even finished negotiating the PA I interviewed six mortgage brokers and called around and talked to a couple of others. I settled on two, and began the process of getting a hold of the elusive “Commitment Letterâ€. Now from my residential experience this…
Category: Cash Flow Real Estate Investing
Wisdom – In a Beer Commercial
Simple and profound. Go figure . . . . .Â
Private Investing Teleseminar Replay
********************************************* To hear the replay dial: Tel: (641) 715-3508 Code: 237869# ********************************************* Are you satisfied with the returns in your retirement accounts or other investment accounts? Would 8-12% returns, fixed and secured, make a difference? If that got your attention then we can work together. You see, the real estate market here in the Detroit Suburbs continues to be the hottest investment real estate market in the country. I closed on and rented my 8th…
Moody’s: Commercial real estate prices slipping
Interesting article in Forbes online today. I’ve seen some tightening up of commercial credit just in the last couple of months. Thanks to http://twitter.com/bob_sibdu for the heads up. Here is the article: Prices for commercial real estate slipped more than 2 percent in March as it became tougher to borrow money to buy property, Moody’s reported Monday. The Moody’s (nyse: MCO – news – people )/REAL Commercial Property Price Indices fell 2.3 percent in March from…
The Coming Alt-A Mortgage Apocalypse
According to the Scotsman Guide, the Alt-A mortgage is primarily a credit-score driven product, as its borrowers don’t have proof of income from traditional employment. The Alt-A loan alleviates the challenges associated with due diligence, such as providing income verification and documentation of assets. On the flip side, for this convenience, borrowers do pay a slightly higher interest rate, usually from a quarter- to half-point higher than traditional, fully documented loans. It turns out that…
Risk v Reward
Must be the week for hot button issues. Personal productivity yesterday and the Risk-Reward tradeoff today. I was having coffee (the usual: venti house blend – three creams) a while back with a very close friend and his wife. We were talking about doing some business together, and in particular he wanted to pick my brain about my particular method of buying, renting, and refinancing rentals such that I generally end up with none of…