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Real Estate Investing Articles on Promissory Notes, Short Sales, Pre Foreclosures and other Cash Flow Investments

Simon Volkov

January 20, 2012

Cashflow - Why Investors Need It

Positive cashflow is one of the most important aspects of real estate investing. Whether buying, selling, trading, or renting properties it is crucial to keep expenses to a minimum to produce profits. Otherwise, properties will become money pits and investors will end up spending more than they earn.

Finding properties that produce positive cashflow can be tricky, especially in today's real estate market. Although there are plenty of great deals, there's much more to investing than locating cheap homes for sale.

Many investors are turning to bank owned homes because these properties are usually priced below market value. While this can be a good strategy, investors need to carefully weigh the pros and cons.

Real Estate Investing article on "Cashflow"

Simon Volkov

January 15, 2012 | Comments: 1

Houses for Sale

When seeking out houses for sale it's a good idea to spend time learning about home buying programs, government grants, and financing options. Doing so can help buyers save thousands in interest rates and closing costs, as well as obtaining properties for the best price.

There are all kinds of houses for sale. From handyman specials to elegant mansions and everything in between, buyers can find nearly any type of property they desire. While the foreclosure crisis has left many homeowners without a home, it has also opened the door for buyers wanting to purchase affordable housing.

One benefit of buying bank owned real estate is many properties are eligible for HUD's Neighborhood Stabilization Program grants. Each year, the government provides grants to people that purchase homes in regions with excessive foreclosure rates.

Real Estate Investing article on "Houses for Sale "

Simon Volkov

January 06, 2012

Promissory Notes

Promissory notes are needed to document details about financial transactions. They are used to provide lenders with legal records that can be used as evidence in court if borrowers default on loan terms.

Promissory notes are used with most kinds of loans, including personal, business, auto, and real estate. They can be used by family members, friends, business partners, mortgage lenders, auto financing companies, credit card companies, or any other person or entity that extends credit.

People can create their own document by making use of preformatted promissory note templates or using online services such as those offered at LegalZoom. Of course, it's always a good idea to have a lawyer review forms to make certain they are legally binding in the event of loan default.

Real Estate Investing article on "Promissory Notes "

Simon Volkov

December 28, 2011

REO Property

REO property refers to real estate owned by banks. It can consist of residential homes, commercial real estate, or undeveloped land. Buyers' present purchase offers through real estate agents just as with any other type of transaction. The only difference is banks own the property instead of a private owner.

REO property can be a good choice for everyone from first time home buyers to seasoned real estate investors. These properties are typically priced below market value and sold with a clear title. All are sold 'as is' and the majority is in need of some degree of repair.

There are a few differences between buying bank foreclosures vs properties listed by private sellers. Bank owned homes are usually in worse condition, but not always. Many have sat vacant for long periods of time, leaving them musty, dirty, and in need of a lot of TLC. Some have been vandalized or used as refuge by squatters.

Real Estate Investing article on "REO Property "

Simon Volkov

December 23, 2011

Sellercarryback

Sellercarryback is a mortgage financing option that is offered by sellers to buyers and real estate investors. While this strategy has been used for years, it has become considerably more popular since the mortgage crisis began in 2008.

Sellercarryback mortgages can be an ideal solution for buyers with less than perfect credit and those who can't afford a large down payment. It can also be beneficial to sellers. By carrying all or part of the mortgage note sellers can obtain a better price for the house.

With that said, it is imperative for both parties to engage in due diligence. A purchase agreement needs to be executed and legally recorded. It is strongly recommended to hire a real estate attorney to ensure everyone is protected and the contract is legally binding.

Real Estate Investing article on "Sellercarryback"

Simon Volkov

December 14, 2011

Nevada Foreclosure Mediation Program

The Nevada Foreclosure Mediation Program is worth investigating if you're a homeowner and resident of the state and in need of foreclosure prevention assistance. Thus far, this program has helped nearly 8,000 property owners avoid foreclosure through loan modification, mortgage refinance, and foreclosure alternatives.

To take advantage of the Nevada Foreclosure Mediation Program requires homeowners to be proactive the moment they receive a Notice of Default from their bank. This program requires homeowners to remit an application within 30 days from the date they receive the notice.

The cost to participate in this program is $200. This covers the cost of mediation services and can expedite the approval process. Anyone who has attempted to work with their lender to stop foreclosure knows how challenging it can be to talk to a helpful person. Using mediation services forces lenders to engage in conversation to resolve the issue.

Real Estate Investing article on "Nevada Foreclosure Mediation Program "

Simon Volkov

December 07, 2011

National Lottery

Winning the national lottery is a fantasy for most people. Americans spend billions of dollars in hopes of matching lucky numbers or revealing winnings on scratch off tickets. They dream of all the things they will buy and investments they will make.

Americans often refer to the national lottery when speaking of games like Mega Millions and Powerball. Lottery winnings are amassed from people purchasing lottery tickets across the nation. Individual states also have their own lottery system with region-specific games.

With national games, lottery winnings can amount to several hundred million. The highest lottery jackpot recorded occurred in January 2011 and amounted to a whopping $380 million paid out through Mega Millions. The highest Powerball winning to be recorded amounted to $340 million.

Real Estate Investing article on "National Lottery "

Simon Volkov

November 29, 2011

Lottery Taxes

Lottery taxes are the downside of winning large sums of money or valuable prizes in state and national games. One thing is certain. If you don't pay the IRS the tax man will be knocking on your door. Just ask Richard Hatch, winner of the reality show Survivor.

If you don't pay lottery taxes when they're due, you'll end up owing the IRS even more. They can assess late fees, penalties, and interest that continuously accrues until it reaches maximum level.

The first thing jackpot lottery winners should do is talk to a financial planner or tax accountant. They could also arrange a meeting with the IRS. The point is to get professional help and eliminate the risk of making costly mistakes.

Real Estate Investing article on "Lottery Taxes "

Simon Volkov

November 22, 2011 | Comments: 1

Power of Attorney Template

A power of attorney template is required whenever one person needs to assign rights to conduct transactions for another person. This could be to authorize someone to oversee personal finances, conduct business transactions, or act as an agent for nearly anything a person does in their daily life.

The power of attorney template makes executing this legal document quite simple. The person writing the POA is referred to as the Principal and the person receiving authorization is referred to as the Attorney-in-Fact, or Agent.

Anyone can be designated as an agent, as long as they are of legal age. It's common to assign rights to spouses, relatives, business partners, realtors, financial planners, lawyers, and accountants.

Real Estate Investing article on "Power of Attorney Template "

Simon Volkov

November 15, 2011

Limited Power of Attorney

A limited power of attorney is a legal form utilized to appoint an attorney-in-fact to engage in a specific transaction for a specific period of time. The attorney-in-fact is not authorized to perform any acts other than what is stated in the POA form.

A common use of limited power of attorney is to allow another person to engage in financial transactions. Examples could be letting a person manage checking and savings accounts by making deposits, transferring funds, or paying bills. Another use would be to authorize your agent to sell a car or piece of real estate.

Limited POA should not be confused with other types of forms such as durable power of attorney or general power of attorney. These kinds of POA forms grant broad powers that allow agents to conduct many kinds of transactions and have access to sensitive financial and healthcare information.

Real Estate Investing article on "Limited Power of Attorney "