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Best Way to finance second homes?

Best Way to finance second homes?

So I am about to buy my first home. I am under contract and going through the phases. I am buying an older house with a renovation loan. My total loan amount will be somewhere around $115k. When the work is done, the house will appraise for $150kish which will give me a jump in equity. It is in a perfect location, has a big lot, and is in an ever growing community (college town and one of the biggest employers in this half of the state). My initial plan was to flip this one, but I seriously love where it is, the huge garage, and the lot it is on. So I’m thinking I’m just going to live here a while and flip some other houses.

So I’m wondering if I should take out an equity line for a 20% down payment once the renovations are done on this one so that I can try to buy another similar property with another renovation loan. That way I can rent it out for two years to avoid capital gains tax and then sell it once I hit the two years. Rinse and repeat.

Is this a good plan or is there a better idea from you veterans of real estate investing?

In VA if this is relevant.

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Dubai real estate seminars for Chinese agents and investors

Dubai real estate seminars for Chinese agents and investors

Dubai real estate seminars for Chinese agents and investors

Source by helen4480

[LI, NY] New construction home – mortgage question

[LI, NY] New construction home – mortgage question

My wife and I are in the process of building a home in LI, NY. The home is builder financed, so while we’ve put down 20%, the remainder isn’t due until closing via the bank.

One of the stipulations in our contract with the builder was that we needed to get a mortgage commitment from their lender, but we had the option to ALSO use another lender if we wanted to.

We got the mortgage commitment from both their lender and another bank we’re looking at using. At the moment, the rates from our lender look better, so we’ve been assuming we’ll be going with them at closing.

The home likely won’t be closing until November later this year, but their lender is asking us to provide a number of documents as well as sign the commitment letter.

We don’t know which bank we’re ultimately going to go with, but is there any risk with keeping our options open and continuing to basically provide both banks with documents (and sign the commitment letter with their lender)?

I just want to ensure we’re not committing ourselves to either bank until closing times and we’re leaving our options open.

View Reddit by neobot85View Source

Properly Invest In Real Estate With Some Advice

Properly Invest In Real Estate With Some Advice

Properly Invest In Real Estate With Some Advice

Knowledge is really power when it comes to any type of investing. Read on to learn some great advice about getting started in real estate investments.

Get to know the local property values. Mortgages and rent in local neighborhoods can help you figure out the home’s value better than any financial statement. It’s easier to make a good decision if you look at things from the street level.

You want to be educated in real estate prior to investing. Doing your research allows you to gain helpful methods and educating yourself is an important part of investing in real estate. Read more information in books and watch seminars and videos on real estate investing so you on the topic.

Location is of prime importance when it comes to real estate investments. Other factors, like the condition of the property, can be remedied. However, a property in a bad area may not sell. Investigate the neighborhood before investing money in it.

Your reputation is going to be of real estate investments. This can build up your credibility in town by building a base of loyal to you.

Consider the amount of time you can realistically devote to managing property. Tenant problems can be extremely time consuming. If you realize managing it takes too much time, consider hiring a company that specializes in property management to assist you.

Never invest your money in a property that you have not been inspected by an independent or third-party professional. Sellers who pony up their own inspector may use professionals that are biased towards them.Always get your inspection from someone that you personally trust.

Be sure to choose investment properties that are in a well-known area in which potential tenants might be interested. You will find this important when you are addressing the resale value of a property you have purchased. Also, look for properties that take little to maintain.

Be certain you spend enough time on the business and also learning about how it works. You might have to curtail your time wisely if you want to make good profits consistently. Ditch the poker night or softball league that you have more time to hone your investing skills.

Do not assume that real estate will always go up. Such a belief is hazardous no matter the market or parcel involved. Protect your investment by choosing properties that are likely to quickly generate a profit. You can boost your income with any property value that is appreciated.

Problems with tenants may consume a lot of time.

Educate yourself fully on the essentials of real estate investing before you spend a lot of money on a property. You are playing with large amounts of money, and mistakes can cause you a huge setback. By taking the time to research the basics, you can protect your investment.

You will be surprised to find most people do the negotiating against themselves when they talk a lot. When you listen, you can catch the right moment you need for that desired price.

Keep a handyman nearby when you are considering buying a property. The money you make will be used on repairs, otherwise. A great handyman will always be available for you, even during an emergency.

This will help to insure that you are buying a good position. There is nothing worse than needing to cover the mortgage yourself because a renter is behind.

Your time is important to you. You could love rehabbing, but it worth any manual labor involved? Consider if you could better spend your time by searching for the next opportunity. If you can outsource a task, you should. It will be worth it to have more free time for the important things you need to do.

This will be beneficial to you if you know the neighborhood.You will also know everything that goes on at your rental property if you live nearby. You will have total control of your investment if you live close enough to handle it yourself.

If you’re thinking about getting into real estate rentals, you’re going to need a capable property manager. Since these tenants are what essentially pays your mortgage, it is important that these people have a good credit standing. The wrong property manager could cost you a lot of money.

One of the smartest things you can do is learn about investing in real estate. You have to keep making wise decisions to avoid investing in properties destined for failure. Take it one step at a time and always think about each move you will make to ensure success.

Do not use your emergency savings or day-to-day personal cash when investing in real estate. Understand that when you invest in real estate, your money may not be readily available. This is a state of affairs that could go on for a number of years. Don’t let this situation destroy your ability to live from one day to the next.

Lots of folks want to understand the subject of Click Here! but don’t know where to begin. Fortunately for you, this article has given you the information that you need to get started doing just that. Simply make the best use possible of this valuable information.…

Posted by danlove9181 on 2016-03-18 15:27:39


Thinking About Home Improvement Read This First!

Thinking About Home Improvement Read This First!

Thinking About Home Improvement Read This First!

Source by Briargatehomes

Hotel/Motel Income Statement

Hotel/Motel Income Statement

Hi /r/RealEstate,

I was wondering if you guys can help me. I’m trying to put together an income statement for the motel. I’ve searched all over for a simple copy of the expenses that I could follow.

So far:

* Salary
* Telephone and Internet
* Water and Electricity
* Property Taxes
* Insurance
* Depreciation

What else am I missing for this list? Thank you!

Edit: Houston, TX

View Reddit by thesweetkindView Source

current bitcoin price barclays bitcoin – can i buy real estate with bitcoin.bitc…

current bitcoin price barclays bitcoin – can i buy real estate with bitcoin.bitc…

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Source by bitcointrading4265

I Love Real Estate Dymphna Boholt Ultimate Boot Camp Students Millionaire Mentor 1988

I Love Real Estate Dymphna Boholt Ultimate Boot Camp Students Millionaire Mentor 1988

I Love Real Estate Dymphna Boholt Ultimate Boot Camp Students Millionaire Mentor 1988

Ultimate Real Estate Success Coaching Program

These are my Ultimate Real Estate Success Students who have joined my education programs. Ultimate Real Estate Success students have a Fabulous Program which is the exclusive offer made ONLY at my I Love Real Estate 1-Day Training Events.

These students recently attended my I Love Real Estate 3-Day Boot-Camp and you will see here they have gone on to produce some amazing results in a very short period of time. They all come from varying backgrounds, but all have a love for real estate and property investing. They return again and again to learn more from each of these programs and spend time with my ‘I Love Real Estate’ Team and me.


Ultimate Real Estate Success Coaching Offer;

Program 1 — The Ultimate Real Estate Success Program

Dymphna Boholt shares everything that you need to know about property investing, taxation and structuring to keep your assets safe.
The program includes:
12 Months Ultimate Real Estate Success Coaching
Real Estate Cash-Cows Home Self-Study Course
Legally Reduce Your Tax Home Self Study Course
Asset Protection Secrets Home Study Course
Growth Accelerator System Home Study Course
Debt In To Investment Dollars Home-Study Course
Finance Secrets For Investors Home-Study Course
Ultimate Property Boot-Camp Home-Study Course
The Ultimate 3-Day LIVE Training Event
12 Months Fortnightly Webinar Series
Members Website

The Ultimate Real Estate Success Programs is the ultimate beginners guide to investing in real estate. The program covers everything from recognising your current situation, getting out of debt, setting budgets through to asset protection, taxation, types of properties to purchase, manufacturing growth, cash cows, subdividing and property development.
Dymphna is a qualified accountant and economist and shares her knowledge and first hand experiences and strategies that have taken her years to develop. Save yourself the trial and error and make sure that your investments are structured correctly from the onset to protect them from litigation and potential risks.
If you have been considering investing in real estate, or if you are a current investor looking to develop a substantial portfolio, then this is the program that will help you to proceed with confidence.
You don’t become a real estate millionaire overnight, however the decision to do so can be made in a heartbeat. Dymphna Boholt shows you the path that she took and how her path has motivated others to follow a similar journey to the ultimate dream and freedom of living off passive income created through real estate.
To register your interest for the Ultimate Real Estate Success Program or to find out dates for upcoming events and introductory workshops, please contact our program coordinators:

Dymphna Boholt runs regular 1-Day I Love Real Estate – Training Events for Property Investing throughout Australia coordinated by Knowledge Source.

If you also have a passion for property investing and wish to be notified of your next opportunity to see Dymphna Boholt LIVE at her I Love Real Estate Events and be kept up to date with her Podcasts, Videos and Audio Blogs or on Twitter, then just visit her own website and subscribe.

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Link to this video;

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Posted by Dymphna Boholt on 2014-09-25 03:24:46


Digital Marketer needs help finding right type of agents for successful funnel created

Digital Marketer needs help finding right type of agents for successful funnel created

So long story short, I’m a digital marketer and was testing out some finals for a buddy of mine in real estate. He wanted to see if we could generate first time Home buyer leads

Needless to say, it worked way too well.

I can duplicate this strategy & funnel in any region, and get great, warm leads. So, of course, i’d like to sell them.

BUT, it seems most realtors I call and talk to only want seller leads.

So. My strategy is contact the brokers directly? Or what is another approach I should take?

I’ve posted around and credit repair people want to buy the low credit score leads, but I kind of rather stay legit and only sell these leads to a real estate professional, as it’s what each lead is told at the end of the survey.

Any help is appreciated!

View Reddit by Mr_RageRightView Source

Learn now for free! Step-by-Step Guid…. Must Watch www.myrealestated…

Learn now for free! Step-by-Step Guid…. Must Watch www.myrealestated…

Learn now for free! Step-by-Step Guid…. Must Watch www.myrealestated…

Source by myrealestatedojo