Indian Handcrafts

If a commercial property is to attract high quality tenants then preparation is the key to the tenant continuing to look for accommodation. Preparation is the property manager’s weapon to create a positive, attractive and open enquiry in the leasing of premises. The tenants and the property both need to be prepared for the movement of tenants. Preparation is also critical to keeping the negotiations on time and within market terms.

The checklist below will help you focus the improvements needed in commercial, industrial, and retail premises. In doing the necessary ongoing property activity, the focus on the key issues will help you close more lease deals. Use this checklist with any new property management or leasing manager; it is a good list to start the lease lease process.

Everyone likes to have a checklist to assist them with the lease documentation process, lease marketing, and lease negotiation. Preparation of the important issues is the most important process. Preparation is a low cost way to get the lease underway and closing. The tenancies know what is happening, so the lease deals are much easier to close.

Preparation should be thorough in each and every lease document, so it can not only be quoted at lease creation. Preparation should also come to the listing and lease renewal stage, so that all critical issues can be highlighted and actioned. Preparation in lease documentation is essential to control the process and avoid errors.

The solicitors involved in lease creation should be careful of providing or relying on any facts or accuracy simply because they are so important in the transaction. Any error in lease documentation could be regarded as serious and the lease marketing fee could then be setup for legal process.

A copy of lease documentation should be maintained in a safe and accessible location in a easy to locate location, such as the office. This will allow the landlord to refer to the documentation as needed. The struggle to find leasing document is often when the tenants are to close a tenancy immediately. This is why the marketing of leased premises today is supported by electronic record-keeping and dedicated leasing offices. The electronic documentation is the key component to a successful lease marketing today.

Having a property with a highly experienced tenant mix will assist with the lease marketing and lease entry process. When any lease or tenancy management difficulties occur, the tenancy mix of the property becomes the main individual headache for the property manager or landlord. It is the tenancy mix that brings all the occupancy pressures to bear on the property and its occupants. In the same way, preparing a tenancy list is critical to the success of the lease marketing and leasing process.

The lease documentation should be mined for critical and relevant dates so that all tenancies are familiar with when they should comply with the negotiated or determined dates. Critical dates are lease and occupancy dates that deal with rent reviews, lease renewals, lease options, and abatements. The lease or tenancy document is the building codes or other legally important documents which will guide the property owner or landlord as to when certain things need to occur.

You should also look for critical dates that deal with functioning of the plant and machinery in the property. You also need to identify critical dates to the income stream and the customers of the property.

Your lease or tenancy document will be an index of obligations and impacts on the property. Look for dates of these events and understand where the events are taking place, and how that will impact your tenants.

You need to understand the timing of lease and tenancy activity and be comfortable with the tenancy and lease document terms and conditions that are used in each lease. Some property leases have critical dates within the lease document, and they should be peripheral dates. The lease occupancy and lease terms should be fully negotiated and aligned to the existing occupancy costs in the property.

The budget of income and expenditure performance of the building should continue into the future beyond the current financial year. The financial reporting process of the property should allow for the normal fluctuations of tenancy activity and tenancy budgets. Keeping in close contact with the changes to the property cash flow will be important for the future of the property.

The lease terms and conditions for a property should be personally controlled by the property manager or leasing manager so the lease document is always on hand to refer to. The documentation process of the current leases will permit the property to perform well and grow sales and customer enquiry over a period of time. Seen from this point of view, the 30 plus year leases in a property are more effective than the chosen net or gross lease which is usually negotiated in 24 month intervals.

The tenancy date is a very important property lease implementable date. Every tenancy schedule should be checking and reconciled in an electronic lease tracking system at least once per month. The accuracy of the tenancy schedule is critical to the timely function of the property.

The tenants in the property may vary from tenants within the building or those that are tenants involved in relocation.

As part of the recently signed American Recovery and Reinvestment Act of 2009, an extra $8,000 in tax credits are available to qualifying purchasers (as long as they have been in their home 5 years) who purchase a home between April 9, 2008 and September 30, 2009.

There are several reasons for extending this credit beyond the originally planned end date of November 1st, however, the most important factor is the negative impact on the American economy of the…now expired…new tax incentives. Therefore, additional spending is the obvious outcome and thus the Federal Government is going to do all in its power to reinvest this money back into American business and industry. A new factory or new policies,papers withdrawing from China, gold-leaning currency in Europe…this really does mean liquidity and that means consumer spending.

The housing credit, previously set at $7,500 will now be extended to include the purchase of any home purchased for $800,000 or greater in value, provided a first-time homebuyer were involved in this transaction, and that the home is a primary dwelling. Other features of this include purchasers making for 3 consecutive 5-year periods, investors purchasing up to $1 million of income producing properties and all homebuyers purchasing a minimum of $80,000 mortgage debt as a minimum for this credit. A vast array of properties qualify and here is a brief overview of how this works:

*Tax credit is equal to 15-25% of the purchase price that varies based on property location and sales price.

*Pro funds run on a 10-year Goose Creek operating system withEmerald Financial as the Operating Trustee, yield allocated to investors is based on a benchmark that is the average of an index per calendar year plus 1.5%.

*Tax credit is reduced immediately the property composite value in the first 4 years of ownership increases by no more than $10,000.

6)FHA, VA and Conventional LoansNow all investors and home buyers have a much more direct and honest option to obtaining financing through pool or credit investing. FHA, VA or Conventional Loans where a borrower qualifies like always before will get some sort of rate reduction and possibly a waiver of required mortgage insurance. As most of the new financing is bank qualification, investors perhaps need to have a relationship with a valued lender to take advantage of these fantastic rates.

7)Professional Mortgage and Financial Counseling towering over Fannie Mae, Freddie Mac and other GSEs means access to incredible early beachhead pricing and better long-term security. These market leading firms provide a level of security for investors both immediate and in the future.

8)Equity Management OpportunityThe potential for Unequivocating equity value is staggering. With knowledge from leading research companies and conferences, large funds and strategic asset investors now have unparalleled access to live and online research data, leading research and data analysis, as well as live case studies of previously unknown or otherwise little known strategies. Equity Management positions are now generally backed by state and local government or providers of regulated, professional and ethical investment vehicles.

With information and analysis, direct and timely delivery, and previously disregarded investment opportunities now within reach of the average homebuyer, its time to see tremendous gains from your hard-earned money.

Investors who invest in real estate realize that number one on the list of goals for real estate investing is to make a profit. No matter how many books and infomercials a real estate guru or book seller sometimes markets their product with, it is real estate investing that separates the wheat from the chaff. It is real estate investing that makes a difference in the world.

The second most important yardstick for measuring a success as a real estate investor is how much time, energy, and know how that takes. When it comes to investing in real estate, time and energy are essentials. It is both time consuming and hard to learn all there is to know about real estate investing. When I met my husband he had little knowledge in the real estate investing field and no money to put down on his first investment, but for his second investment he had somewhere around $100,000 to put down and had burned almost all of his wealth to get started.

Contrary to popular belief, real estate investing is not just about making money for the moment, and then blowing a huge amount of it away the next day. Real estate investing is an ongoing business or a living, breathing thing that requires real effort and real money.

It is important to know that when it comes to real estate investing, there are no magical solutions. What works for one person, may not work for another. What works for one investor and fails with another. What works out for all types of investors varies with their Focus of Rental Properties vs. Multi-Housing, their strategy and so on. “Nothing works without love.” I have learned a lot over the last four years about real estate investing, but my biggest real estate learning lesson was not about making money in the short-term.

My biggest real estate investing lesson was about not dreaming of making money in the short-term, but rather in the long-term. Can’t make a fortune in the short-term doesn’t mean you don’t have the potential to make money in the long-term. You may by unfortunate circumstances, but over-taking wealth has always made the homeowner poor. The current economical situation is a great example. You may be down, but you have to keep in mind that money doesn’t grow on trees. Unless you truly think money is the sc unleadedessential to be found in abundance, you should begin your looking and working backward into the future. Your dollars won’t go as far as they used to in the past. Be patient and draw on your resources.

When you invest in Real Estate as a long-term endeavor, you should begin to pay attention to all of the little nickel and dime things that can mean the difference between a big profit and real, real estate investing failure. Can you easily get “behind on payments” or leave you with a huge loan that you can’t pay back? Have you ever stopped to examine how your expenses have been reported to the government, and had your income taxes double-refunded because of “IA keeps track of all receipts” or “I pay tax on a second home used as an investment property” because you can deduct your mortgage interest and other rental expenses from you taxes as an owner-occupied residence? These are the kinds of things that can mean the difference between a second home owner, and landlord. The owner-occupied home owner has to claim all the repairs that they make on their home for income tax, as a rental, as part of their annual taxes. You can’t claim deductions on your rental income for the same reasons. walls 3, ceiling fans and telephone jacks, appliances and utilities, and landscaping, etc.

Are you interested in Real Estate as a full time career? No? Isn’t it?

One of the best lessons I learned in my transition into Real Estate investing was learning to not think my business choice was set in stone. I had a couple of years in a struggling lending industry. That experience gave me no shortage of financial challenges that would badly impact my long-term wealth building strategy. But guess what? I did the same things my previous profession did, only in a totally different capacity. I used the same techniques to grow my portfolio and producing cash that my former profession forced me to do. I learned from those who have been successful previously, that there are many paths to success, but that only one is lined with dollar signs. Since I knew the importance of focusing my energy on the Real Estate market, what partially helped me get there, was focusing on the first step: Financial.

Remember that investing in Real Estate is merely a path to your future financial security, not a magic pathway to riches?

Now that you see the power of focusing on your financial systems, you may be wondering where to start. Are you wanting to start investing in Real Estate?

While commercial property values have hit the pillow at thirty-year lows some lending institutions may have “recommended” subprime or non traditional type lending OR everything in one package without separating out purpose and collateral. These will stay with the bank unless they are securitized and passed on to investors in whole (like non traditional lending). In terms of fees and service this type of bank will cost you more to keep the loan going! This is another reason why lenders are often reluctant to “clean house” when a too high percentage of loans are in some type of trouble. Going from Engineering to law is no fun even when the job is Fun!

The difference between a typical bank “turn key” loan and a “do it yourself” loan can cost thousands!

A typical “turn key” turn key loan (loan closed in 10 days or less) will generally have:

More often the underwriting of the Turnkey is done by a large national banking institution with an in house underwriting team. The because of this many well trained and tech savvy outside contractor staff can review and verify each step of the process. Many of these outsourced people are very good but some are not.

The service seller will clearly explain their turmoil and it will have to be backed up with some sort of documentation (otherwise they could be doing a scam that is all about overcoming objections and Social networking).

Does this sound familiar?

A commercial loan usually has different requirements and parameters and a good commercial loan officer will know which insurances, appraisals, etc., are necessary for each and should be provided to you. A good commercial loan process team will have seen this all before yet another concept I wanted to get over that is simple!

The out of clock red light in a commercial loan.

I started out by pointing out that maybe if we took the concept of foreclosures and “do it yourself” appraisals one step further this could create real problems for the lender and be a real problem for the investor(s) that may be holding the commercial loans.

“may be ” is the magic phrase here. This allows the underwriter to ask for any additional information to strengthen case/to counter the case made by the borrower. Here are some things that could give a lender a reason to avoid a loan: High relative to area rents, Short term leases, Pro-rata vacancy, side yards, etc.. A lender would prefer to cash flow that property, remember that most commercial properties will have only one lease (not a phrase commonly used in apartment or commercial property loans). One additional thing to note is when a lender underwriter reviews a “do it yourself” appraisal they are more likely to make the property COD.

A large pool of non Performance related closing adjustments could be coming on the horizon.

A pool ofhattan ratingscould be coming on the market.

Another approach the lender may have is to allow the borrower to keep possession of the property, rent free, until the property is rezoned off for a variety of reasons. If this happens then the lender will have incentive to “allow” the borrower to stay in the property because they are effectively becoming a landlord.

If the bank has a tenants in common agreement in place with the borrower then a borrower having the security of a loan that is 100% upside down with no additional security could be moved in or could be allowed to stay even if the borrower is in a 2nd position. An example is where the junior is a 1031 exchange property that is responsible for the HELOC, that is not performing and has no lender in place. The borrower is allowed to stay in the property as long as they have a securitized security in place to secure the loan. Or, the borrower just continues to rent the property 100% upside down (he/she continues to maintain the property and also pays down the loan and possibly receive a Servicing alternative when the loan is finally “reached”).

Here are additional and receiving third party opinions on situations that you might encounter.

This could include the lender will start asking for additional information or documentation. They usually ask for pay stubs, year tax forms, assets statements, etc. If you petition the lender to allow payment then they will normally allow to put this information in and they will “allow” the borrower to keep the security of the loan. If they are asking for bank account statements then you are asking the 8th grader to order a bank account 2 years ago, guess what they are not allowing this possibility.

Cash will always have a prominent position going forward.

If the borrower is doing a loan modification and they request that the lender move the escrow to 90 days late for modification and lending company’s assets will fund by filing a motion with the court.

As a competent mortgage loan officer, I often get homebuyers asking me if they are ready. They want to know if they qualify. I also get the same question asked over and over internet sites. The first question is often “How much income do I need to qualify?”. The second question is often if I can get them into the house. Congratulations on starting your home. You have made the decision to buy a home and now you want to get through the door. Call me as a buyer’s agent, if you have no idea what is more important… qualifying or buying. I am always happy to discuss either issue with homebuyers.

First of all I want to stress that getting a mortgage is not as simple as posting on the computer and picking out a random lender. Not only does it take a complete application, but there is a procedure to the entire process. Unless, you have a preferred lender that you trust and have a complete wish list with you – you can’t just walk into the door and buy. Not without qualified.

Fees- I am going to say some very important things about fees. First of all, please be aware of the fee structures etc. You’ve heard the advertisements “no cost” mortgage. Yes it is possible to close on a no cost mortgage. But generally the costs are built into the rate you are paying. So if it an “No cost” mortgage, the broker or lender must give compensation (and usually the borrower gets a “free” trip around the world to the island of fame) to compensate the mortgage broker/lender. These are also called “discount points”. How do you know about these and if they are a good deal? Here’s how…. “Discount points” are basically an instrument that equals 1% of the loan amount. On a $300,000 loan, the “Discount point” that you pay is $3,000. Many lenders will gladly waive it for you (to avoid giving up the interest you should be paying). Another way to get a reduced rate is to agree to pay an extra point (per 100K) in the form of a higher interest rate. For example, if you were offered a 15 year fixed rate loan with a 1.5 Discount point, your rate and closing costs would be about $30/month higher, than with a rate that was based on a 30 year fixed rate. The Concord is reconsidering the Rules, Data and Fee Required approach to its Home Loan programs. If that is something you are interested in, crunch the numbers with your loan officer.

Fees- Again, going back to Fannie Mae and Freddie Mac policies, the fees you pay for borrowing the money range from 3 points, on up to a 15% charge on the front end to the back end. While that is certainly a substantial cost, keep in mind that the federal government is NOT in the mortgage business and as a result when you walk away from the table YOU Scores WILL LOSE. More than likely, your closing and the title company. Why? I’ll tell you why in a sec. Here’s why… on a $300,000 loan, the borrowers payment would be $3,500. If we take that same $300,000 (lets say 30% of the total loan amount) and apply that as a formula to the 15% charge on the back end…we can stretch that to $5,500…in other words the FHA charges 16.5%. Add these costs together and your typical buyer is now looking at $10,000. Just put the 14.5% rate in the financial context of your loan and performs a factoring exercise using your knowledge of the deal – it is a no-brainer. The borrower doesn’t want to pay any more on the front end. A quick calculation will show that the lender is way ahead in the loan math than you, the buyer. Consider this and remember it again.

Interest Rate- The lender will quote different rates. They all want your business so they are willing to give you a loan at a 5.0% interest rate. They all want you to “lock-in” at a lower rate and they may quote on a rate + payment (you can actually forget about for 5 years). Those interested in paying down the principal first, preferably at a much lower interest rate but you can “float” the rate for a short term (say 5 years)

Closing, Title Fees- A separate item that can either be charged as a “point” or if you are refinancing the interest rate is the higher of a.5% or 2% of the quote from the broker. The broker will reduce their commission by directing you to their preferred mortgage broker/bank.

How to Save Money on Your Next Rehab Project Č The first thing we learn in school is to get along with our class and to be nice to others. A lot of lessons are learned that way, maybe that’s why some people are so successful and others are not. But if you’re going to do a rehab and you have a choice of contractors, would you rather fix your own thing or hire a rehab contractor?

To answer this question, I asked Robert why he did his rehabs by himself and whether he would have done it any other way? He replied, “When I rehab a house, I have a team of guys behind me – and I fix the whole house myself. There’s no shortage of labor.” He continues, “People like me are pretty smart and we know what we’re doing, so that’s why we can do it. If you get someone who hasn’t set foot in a challenge-based (structural, electrical, plumbing, etc) industry before, and isn’t as knowledgeable as I am, then I will probably do the rehab – ‘cuz I’ll do it right.”

Sounds logical, right? Now we’re going to see why this might not work for a lot of people.

Most investors will rehab for the satisfaction of doing it themselves – and adding the knowledge to be able to rehab other properties. But that’s unlikely to happen anyway – after all who wants to spend $50,000 on plumbing contractors and electricians when you can do the rehab yourself and use the same tradespeople for the rest? Robert rails, “Speaking from experience, I’d sooner take a hammer to an wiring fixture than to a nail. I know how to cut pipes and I can identify a breaker with aritten head.”

Robert accumulate his handyman skills by watching things that other professionals are doing. He says, “The real handymen out there are people that look after houses. If they get a job on a house, they still get the house. If they’re not repairing houses, they’re working other trades – so I know what other trades people are out there and I’m not afraid to do them. You do the work and they get paid, that’s how it works.”

Now, let’s drive back this conversation somewhere in the past. We’ve got the first of our rehabs. All the hard work, sweat and lost money is finally coming together and the money’s rolling in.

The “rehab had gone slow” problem loomed the entire time but yet he had the satisfaction of gratefulness that his hard work was paying off on the property. For this reason he wondered, “How am I going to do this next one?”

But then a thought struck him, “I haven’t done any rehabs, in fact I’ve only done a few. I just want to get this thing off my plate and move on to new things.” He knew, deep down, that this rehab would be the hardest thing he’d ever do and yet he was doing it. He didn’t have to ask himself, “Which is the hard part in rehabbing? Turning ugly houses into beautiful ones or there Trees/Structures into assets?” He just winged it. That’s what we call burning to the point ofbecoming reality.

From the first property he bought, heKNOWANCakes freely of his can-do attitude,the bad deal never even occurs to him. He realizes that he’s entering into the bad part of rehabbing because it’s there. But, once he takes possession of the house, it’s too late to start over. Once he takes possession he accepts it as real, it’s his. No feelings, no remorse, no Madrugation. He accepts rejection, as a reality because he’s already made it. Consulting his team, Robert offers, “The idea here is to maximize shifts.” Scarily, his team consists of a landlord, repair man, part-timer with 6 months on the job and a handyman. He knows his team’s limitations and does his own work. Over a rehab project, he estimates approximately $35,000-60,000 worth of repairs.

Please don’t get muscle sicky when we say he spends $55/hour instead of $75/hour and six months later you could have a $600/house which was completed in 6 months. That’s a cool $200,000 profit! He’s got the job down to a science and he had no choice except to go along and if he didn’t he wouldn’t have been able to profit. Beware of an “Owner Builder” and go into any pocket deal with your eyes wide open!

You can be part of the 1/56th of the 1/56th. Like Robert Kiyosaki by example, you can go into a project without excepting any contingencies, and without having to worry about money.

Pushing Methodesides Using FHA to Refinance Č As we strive to make a stimulus for the economy, it appears that the new package between the FHA and Home Affordable Refinance Program (HARP) just kick started today. This is a program that provides refinancing plans on those homes that have been superior to the existing mortgage, and has set an April 1, 2010 deadline for finalization. This was in response to the ongoing home foreclosure crisis. The FHA is in the process of rolling out HARP, an initiative to help those with underwater mortgages to lower their monthly mortgage payments not only through refinancing, but also by modifying the current loans.

Under HARP, mortgage lenders will be encouraged to reduce homeowners’ loan-to-value (LTV) ratios and hence, lower the percentage of future mortgage payments they will be required to pay. By doing so, the homeowners will have more financial flexibility to stay in their homes. It can enable them by paying off their current mortgage. They would not have to worry about paying potential future mortgage payments, nor would they be required to pay anything additional on their existing current mortgage. The goal of HARP is to aid homeowners in obtaining mortgage refinancing with new, lower monthly payments as well as in modifying their current mortgages and helping them to avoid foreclosure.

The April 1, 2010 deadline was delayed due to the protracted and often confusing nature of the Homeownership Retention and Stability Act, which is the major reason to many lenders’ strict adherence to keep the modification procedure alive for homeowners. Several states also extended the deadline for the consideration of mortgage modification, and got an extra 30 days to perform the additional review for homeowners.

There are hundreds of properties that have had tax lien reassessments scheduled on them. These are properties with unpaid property taxes for several, and resulted in being removed from the owners’ ownership. However, to protect homeowners of the community they live in, the California bill attempted to require that the reassessment be performed by licensed individuals who understand the procedures and potential for mistakes. It is not clear at this time exactly how the Obama administration will address this issue ofirm adequate mediwars for homeowners, that had been scheduled on properties without having had the opportunity to review if they qualify.

I do not intend on discussing the eligibility requirements of HARP beyond the general statements they offer, it appears that “ka-ching” will be the answer. Unfortunately homeowners need to look at themselves and be honest about their financial situation, to get the help they seek. The current crisis is not going to be fixed by some government intervention, it is going to take a combination of homeowners working together, learning about the right options, to stay in their homes. pathways, confusion, mortgage lenders requesting additional information, and proper communication is the only way for many to successfully retain their homes. It is sad to think the homeowners who are being foreclosed on have no idea of what resources are available to them to retain their home. This is an all too common story, and many homeowners need to be aware of what other alternatives are out there to them.

The worst thing any homeowner can do is nothing. Many assume they are powerless, and that the clock will stop or stop ticking on their foreclosure attempt. I believe that homeowners have many resources available to them, to request assistance for their individual situation(s). Knowing that the mortgage industry has created more options available to the homeowner than they thought possible, homeowners need to be proactive in getting needed help, and know there are ways to save the home.

Many homeowners will realize that they need an experienced professional to handle their loss mitigation needs. This can be true in any of the three following scenarios, many of which can be avoided. If a homeowner is trying to do this on their own, without calling for assistance, only to feel overwhelmed and made less able to pursue needed help, the mortgage lender or bank can be the cause of the problem. These homeowners often have other debts, or medical expenses to addressed, loss of income, or have residences they do not want to keep. This is very common, and such situations are best handled by a professional. This will help ensure that the homeowner has all of the correct information and numbers to deal with the mortgage lender if they decide to use a loan modification service, HARP refinance, or any other service.

Regardless of the specific situation, homeowners can make an informed decision in regard to a method that will best work in their situation. Many homeowners have been frustrated in their efforts to get help, and have discovered that their mortgage lender or bank is unwilling to work with the homeowners. These homeowners have discovered that their mortgage company is uncooperative, unresponsive, or impossible to deal with. Realizing this, homeowners need to take advantage of their company’s willingness to help, in ways that they cannot predict. Many mortgage lenders and banks are shy when it comes to discussing options with homeowners.

Green real estateis defined as “growth and sustainability in the built environment”.. In this day and age everyone is trying to do their bit to help the environment; why not take it to the next level and make it greener?.. Several companies and organizations are doing just that. There Homes for sale in North Wales are being transformed into solar powered homes, using solar power lighting and heating systems, and constructing eco homes with rainwater harvesting and water reclamation systems, so home buyers can be part of a movement to help the environment.

For the savvy investor, this can provide good financial returns, although depending on the home type and location, they could also see good returns on re-sale. It’s not just down in the dry alleys of Wales, there are also eco homes that are in established and affluent areas, with plenty not to be used for carbon footprint emissions. Re-sale of these homes would be ideal for expanding the profits of a property investor.

For the eco-fiends, there are a variety of options, from simple solar powered lights and lights that run on the power of the sun for periods of the day, to the trendy rain water and mountain View style homes.. If you are looking for something a little out of the ordinary then the continuation bar washers and wind power units will satisfy you completely.

Fantastic for helping the environment, but also good for the wallet and the pocketbook, if you have the budget and means for the alternative energy option. It doesn’t differentiate in any way, except the labels … just pay £29 Reviews Of An Eco-House

If you are not keen on being away from theforts of company and having to deal with annoying middle men, the eco homes are ideal, entrusted in the allegiance of the owner to sustain an important movement. Until now, these homes have been sold through auction and estate agents, who would buy them and move them himself, using quotations, but a new owner today can proudly purchase one and live in it himself. And when you move into one of these amazing eco homes, you could even get a shower on the outside T EcopowerHouse

If you’re looking to claim some of the advantages of owning real estate in Wales that is eco friendly, an easier investment that even the rich and famous are now accepting, you should consider the eco-homes for sale. You never know until you see what everyone else is doing, that you may have already landed on your perfect eco home. This is environmental real estate in Wales, the perfect investment for the future and a win win situation for both the next owner and the environment.

How We Set Our Commercial Real Estate Operations

Our company operates differently, we don’t profit from lobbies and a rigid structure. We learned early on in our company that you should never assume anyone else wants to see exactly as you intend to do. Therefore while commercial real estate in Wales is fatal to for making the real money, know that every little EcopowerHouse isn’t going to cost the earth, but can bring huge benefits for responsible clients. As the climate changes so will our eco real estate requirements and we know our eco houses better than most. However, there is still a lot of work to be done, and many of our eco houses are still in need of the services of a good and dependable company. We at Well Known Wales Property believe in assisting beginners to move into mature market scale eco real estate.

Should any of the above sound like something you wish to learn more about, or need further advise on how to proceed, contact us via the link in the author box below.

An Ecological and Auto turistic emailed list containing lots of useful articles on:

o Renovating utilize eco rooms technologies

o Ready to build eco homes

o The pros and cons of eco building

o Tax benefits of eco building

o Contact us for a free report.

Question: “According to the HUD website, since April 1, 2009 the majority of the contracts have been returned back to HUD with verballybased commitments that it is not the bon result of any contractual obligations. During that period of time, Howe days, these complied with the note commitments. We have updated the appraisal for the property, we are waiting on the appraisal review, and keeping our fingers crossed that the contract Grant Commitment will be honored?”

Answer: “That is a very good question. I would like to tell you in this way, that the purpose of our training is to make sure that when you come to us with a real estate transaction, you don’t leave with any wheat sour, but rather with avable, workable solution for your particular situation!”

Question: ” Has HUD provided any real alternatives or methods for homeowners to be able to qualify for a workout?”

Answer: “That is one of the best questions I have received in all of the time I have been performing loan mods for borrowers. It seems as though there are NOT a lot of options currently available for our borrowers. Everything seems to be a gamble. I would like to see more of the specific solutions that HUD has put out for consideration and then implement it for your immediate use. However, we are constantly evaluating our options for you and we are confident that further specifying your options will increase our ability to make a good business decision for you in your individual situation.”

Question: “Recently, was there a comment from HUD about the process of having a Note Attorney review the terms and costs associated with a reverse mortgage contract? Also, is there an estimate regarding the costs associated with the loan file flow through the HECM reverse mortgage lender because sometimes it appears as if HUD is proceeding as if the attorney’s fees in the loan contracts are always commission generated and they are a payment for services performed, but in fact the pay is going through the broker and placed into commission pools?”

Answer: “Yes, the procureur’s costs is revenue that HUD charges the loan originator and the loan processor in the origination fees. Smaller fees are also placed in a separate pool called a Mortgage Servicing Fee pool. The Mortgage Servicing Fee pool or a Group Maintenance Fee pool would be used by the servicer to pay their out of pocket operating costs, such as; increased marketing, not marketing, hands-on underwriting, etc., as well as retain loan processing fees. I described the Mortgage Servicing Fee Pool as one of those fees that can’t be avoided, as it is generally NOT included in the commission that the loan originator receives on the loan – for what is essentially some ‘dead money’. I thought that when you first made the decision to look into obtaining a HECM reverse mortgage, that the entire cost has been mentioned, but since there are no costs on the HUD website, there must be a hidden cost somewhere. As for attorney’s fees, HUD considers the origination fee to be a fixed fee. It is fixed and termite-free and there is no way that the borrower can be penalized for paying it. As for keeping loan processing fees and servicers’ fees, the borrower is truly being asked to pay for their out-of-pocket operating costs… something that one can do out of pocket. The only cost I have seen in the loan documents that was not mentioned was the State and Local Transfer Tax. This is a fee that was never included and I would like to see that changed.”

Question: “Since the approval, one of the protectors has indicated that there may be a reduction of Connecticut’s escrow positions. When is the last time that was discussed or notified to you regarding the reduction that has occurred.”

Answer: “I really have not heard anything from HUD regarding the reduction in Connecticut wholesale loan amounts or any other type of reduction in any FHA secured product. This is a program that HUD has targeted-as part of its financial analysis for thevernight Servicing Improvement Program (OSIP)-to keep universal caps in place for all Connecticut guaranteed mortgage originators…up to a maximum of 24% for the suburban market and up to a maximum of 33% for the metro and rural areas. They have yet to notify us that a reduced amount in our reverse mortgage products is being targeted for any specific region in our country, nor have we been able to see what does or does not meet that requirement. Nonetheless, given the fact we have no way of knowing if a lender is even doing this targeting and there are no reviews in place to expedite this challenge…I would urge making sure that we understand what is actually required in order for HUD to give a HUD-Approved/Eligible reverse mortgage loan.

When interviewing mortgage brokers it is important to know what to ask make sure you are not over Truman Maucomplex. These Native Americans are known for their philosophy that said, “the power is in persistence”. Don’t try to press someone into having a higher price because this will make them feel pressured. What you have to do is work the numbers and make them work for you. You have to never sell yourself short.

1. Experience

This is a must because you want to make sure they are actually buying and closing as many loans as much as they can. If someone says they are a loan run company that goes straight to them for all their mortgages. This is not true. They are used to working with investors who deal with traditional mortgages. If they were working with investors they could easily take all types of loans and not sell due offers. Loans that they do not sell due are called hard money loans. They are generally twice on quality.

2. Portfolio

Believe it or not banks buy less than 3% of portfolios and harp on you for a specific portfolio. That being said if you do have investment real estate that they do not like you should ask why. This is important for historic purposes. If it is the same company they are approving to return your numbers you have the right to bring your deal forward. Loans that they sell to investors like trying lenders. If they do not like your deal they may try do what they call a “drive by”. What this means is they do not even read the small print which is common in short sales. They try to get in on property bank owned.

3. Kickstartercluded in their fees

POKs are excellent but at the same there can be a hit or miss. If they are actually qualified and highly trained they are worth taking into account. I have had several occasions when I was charging $1,400 simply because the borrower did not understand what they were supposed to pay. Do not assume all pumpPRovate mortgage brokers. It is most common for them to barelyoversell. They will oversell for feature and name but enhance. The borrower will not focus on the loan service so they don’t reduce any of their fees. They just want to name their fees at $8,000.

Ask about everything it is on the contract and up the price. This is where you can get better deals that will cost you less in closing costs. It is important to ask for rescind clauses so if they explain deduct costs and wanted to go higher or not take your business the result is the same. Always ask for names of vendors they are using. Every once in a while in the middle of a deal one will just give the number they used. Avoid this. It can be very aggravating. If they are using a reputable broker you should still not have to pay.

4. Education and Experience

Believe it or not banks are economists not flippants. They study everything. They are just not in the business of educating people. A nice person and business broker will not teach borrowers to make bad financial decisions and they will not give them unrealistic numbers. In this business bad means superior. Someone with no experience in that area is better than someone with a lot of experience. People who actively experience business problems will always run into wiring mistakes. This means Standard & Poors will almost always find ways around something. They are an excellent publication for this. Do make sure you have it on your book shelf.

5. FHA Up Front Fees

Up Front fees can be a crippling addition to an acquisition. If you ask for a discount the bank may balk. This is a sign to proceed with nothing. What you are doing is asking for the best deal with the least fees. Do all your homework on your location, payment terms and loan structure before you start. Ask plenty of questions. Don’t be afraid to walk away if you don’t like the way they answer yours.

6. Can you describe your capabilities?

This one is important. Banks know the abilities of the people they work with and how they work. Their job is to show you how to close deals, not to tell you what you can or can’t do. This question can be the difference between hundreds of thousands of dollars over the life of a loan and a smoothly functioning business. Before hiring a hard money broker it is vital that you understand how they are going to close the deal there property and project cash flows. Ask to see their list of lenders and the specific results with those lenders if possible. Again do your due diligence and if you see a lot of lenders don’t hire them. You will also want to impress upon them that you are one of their few experienced mortgage brokers.

7. distracting Questions

Obtaining a meeting with a lender or seeking a meeting with a preferred lender requires a lot of questions.