Mortgage History

 

 

Hi Prospects & Friends!

Mortgage history means all the types of mortgages you've been approved for that were reported on your credit report, which you've made payments to with the lender. Understand if the mortgage history you develop with these lenders turns negative from the payments, any new lenders if view your credit report will require you to pay higher interest rates, if you're not paying the mortgage in cash. Paying cash can become costly if you don't have it, so keeping your mortgage history positive will help greatly avoiding these costly mortgage issues.

What Is A Buy/Hold Strategy?

  

Hi Prospects & Friends!

Whether you're analyzing residential or commercial properties, certain properties make more sense to use the buy/hold strategy. A buy/hold strategy is a technique applied, when a property makes more sense to just hold it to reap the profits longer term. These properties maybe;

• Raw land
• Revitalizing communities
• Rental properties 
• 1031 Exchanges
• Apartments

All properties are very different, and carry different characteristics, and when applying this to economical factors, the buy/hold strategy comes into play immediately when these key factors join together. A buy/hold strategy wouldn't make sense if you're needing the appreciation and the equity from the properties immediately short-term, since you would also trigger capital gains taxes, and recaptured depreciation disposing the property short-term. Buy/hold strategies also don't work great for everyone, since you need to know in advance how long to hold the property, before you purchase it. Best key factor to decipher is know why you're buying the property, and then apply this to the economical factors to see if it falls better in a buy/hold strategy.

Mortgage Interest Rates

 

 

Hi Prospects & Friends!

Mortgage interest rates are still currently much higher than they were awhile back. This doesn't mean if you're currently still sitting on the sidelines to still sit there. If you're concerned about the interest right now, try buying down points technique and get your rate to what you want. If you can afford to buy down your points, and the costs you pay are worth it in the long run, versus sitting on the sidelines hoping the mortgage rates will come down, then you should proceed with this technique. The lower your mortgage interest rate, the lower your loan will be in interest, as well as your mortgage payment. When you buy down points you can have;

• Good credit 
• Bad credit 
• No credit
• Cosigner 
• Partner

It doesn't matter, since you're paying to buy down your rate anyways. The buying down your mortgage interest rate isn't for everyone, so do your due diligence in advance on this unique real estate loan option. Sitting on the sidelines hoping mortgage interest rates will come down, could actually be costing you hidden jewel opportunities in the real estate industry.

Real Estate Notary

 Hi Prospects & Friends!

Ever Google a search for a notary, but really need a real estate notary? Well time is on your side if you've discovered this blog by accident. We all will either need a Will someday, or will know someone related needing one. Majority of Wills need a notary signature, if their written correctly, and the best option is to get your Will notarized by a real estate notary. Real Estate Notaries focus on real estate related documents, including notarizing Wills, so key here is making sure you locate the proper one, who will be able to notarize your real estate documents appropriately. 

What Is A Property Manager?

 

 Hi Prospects & Friends!

Property managers manage and oversee the properties they manage whether residential or commercial properties, and they all have tenants and these managers are responsible for managing them and the properties these tenants are leasing. Property managers can be an:

• Individual
• Company 

It all depends on the person managing the property whether they're a individual or a company. Majority of property managers are companies, while there are some property managers who work independently as individuals to their rentals. Either way the tenant/landlord rules don't change, because the property manager is acting solely as an individual property manager or as a property manager with a company. So understand these key facts here, and you will fare well with understanding these differences.