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How to Find a Notary When You need Documents Right Away PDF Print E-mail
Written by Jeff Adams   
Monday, 01 March 2010 18:49


When time is of the essence in regards to a business transaction, it is good to know the quickest avenues to take in order to locate the necessary information and connect with the necessary individual to be a part of the business transaction.  Finding a notary public when you need documents done right away can propose quite a dilemma if you do not have one that you already refer to.

By definition, a notary is an officer who can administer oaths and statutory declarations, verify and prove signatures, and witness and authenticate documents.  They are probably the only impartial entity within the mortgage lending process. Finding a notary that is reputable and trustworthy and is also efficient and expedient can be quite challenging, especially for the investors who are not yet familiar with the investment process.

When a deal has been negotiated and documents need to be completed and signed promptly, how does an investor locate a notary public, if he/she does not know where to find one?  One way to find a notary is as easy as clicking a button.  Thanks to the massive information that is readily available on the internet, finding whoever or whatever you need is not as difficult a task as it once was.

Navigating the information super highway allows you access any information you may need.
In regards to finding a Notary, by visiting Notarypublic.com, you can view the national directory of notary publics.  This directory offers local and nationwide mobile notary signing services to lenders, brokers, and title and escrow companies.  The National registry of Notaries is another organization that provides useful information as well.

The National Notary Association (NNA) is professional notary resource that can be utilized.  The education and support they provide to United States Notaries is substantial to their role of protecting the public.  This organization was established in 1957 and is the leading authority on the office of the American Notary. In addition to presenting updates on the current United States Notary laws, it also advocates over 4.8 million notaries nationwide.  The NNA includes high-demand professional programs and services and encourages consumer protection, just legislation, and technical initiatives.

Online closing, also known as eNotarization is a relatively new process that is greatly gaining notoriety in the real estate market.  Technological advancements have made it possible to receive notarization almost immediately.  Electronic notarization is a safe and secure procedure that is fast and effective.  A notary initially meets with a borrower at the borrower’s convenience in order to review the documents for the loan.  These documents can either be viewed on the website of the lending company or on the laptop of the Notary.  Upon the completion of the review, the borrower electronically signs the documents in the presence of the notary.  The notary then electronically notarizes the documents and they are transmitted to the lending company immediately.

Electronic notarization also offers the benefit of less risk involved in the transaction.  Because of its growing popularity among investors, the demand for digitally based transactions is increasing.  For this reason, both in the government and in the private sector, more action has been taken in regards to new laws, requirements, and programs to protect them against fraudulent or unethical practices and predatory lenders. Trusted Enrollment Agent (TEA) program is being established in some states in order to protect important and sensitive information and also to identify and verify the authenticity of digital credentials.  This program is being developed jointly with government contractors, medical professionals, and the NNA.

Another element of protection is the Electronic Notary Signature (ENS) that the NNA utilizes.  The ENS makes electronically notarized documents tamper evident.  In some states, such as Florida, Notaries are required to have a unique signature that is solely under their control, has the ability be verified and associated with a document, and can also show any changes or alterations that may have been made after the original document had been signed.  This digital age offers the investor the ability complete transactions in a more direct, time efficient, and safe manner.

Jeff Adams has achieved incredible success in real estate investing by harnessing the power of real estate investing online and unlocking the profit potential of a well designed website.
Former Firefighter, Jeff now teaches investors nationwide the keys to building an effective website and to capitalizing on the growing Internet real estate marketplace.

 
Why Wholesale Foreclosures? PDF Print E-mail
Written by Jeff Adams   
Monday, 01 March 2010 18:45

How Wholesaling is Changing the Way Real Estate Investors Make Money


The business of wholesaling is not just a trend in the real estate market. It is progressively gaining momentum and popularity with both new and old investors in the market. Investing in foreclosures offers quick deals for quick profits. The basic idea is get in, get out, and get paid.

Because it offers many advantages to the wholesaler, this type of investment is very attractive. No license is needed so just about anyone can do it, it involves a quick turn around time, and it gives the investor more personal time. Investing in properties that have been foreclosed upon also has unique criteria. It is much targeted and works in every market. It also has the built in problems of the homeowner losing the house and the bank wanting to get rid of it which gives an investor an advantage.

By definition, real estate wholesaling is the entering of a contractual agreement with another party for the purpose of purchasing property, and then assigning your interest in that contract to another investor for compensation.

The actual process of foreclosure varies depending whether a state is judicial or non judicial. The former requiring legal action and the latter not deeming it necessary. In non judicial states, the borrower can grant the power of sale directly to the lender. After a borrower fails to make several payments on a loan, a lender files a Notice of Default (NOD) and the foreclosure process is put into effect. After about three months, the lender files a Notice of Sale (NOS).

The house is now in control of the bank or Real Estate Owned (REO) for twenty one days until the actual foreclosure sale. As with any investment or business venture there are pros and cons when investing in a foreclosure. When buying foreclosure properties, an investor can either approach the homeowner directly, purchase the house at a public auction, or buy it from the bank.

Approaching the homeowner gives you the ability to negotiate terms and offers huge margins for profit, but there are title, liability, and legal issues involved. Public auctions give an investor huge margins for profit but an investor has needs to make the purchase with all cash and usually there has not been an inspection and at times an eviction prior to the auction. Buying from the bank may not offer as much of a profit margin and or terms to negotiate, but it does offer the investor a sense of relief because the house has been subject to a full inspection and there is no title issues assignment.

Often times, foreclosed houses never make it to the public auction. This partly because homeowners have a variety of options they can use save their homes before they are sold publically. An investor could have made them an offer, any bank could refinance their loan, they could sell it with a realtor, or they could take out a second mortgage. Once you have made an offer on a house and it has been accepted, you can proceed to write the offer with you as the Trustee, with the exact vesting to be determined. The terms and conditions of the purchase and sales agreements are understood and agreed upon by both parties and signed, and ownership of the property belongs to you.

The next plan of action is finding a buyer to purchase your vested interest in the contract. Banks usually have a “No Assignment” clause but there are ways of getting around it, so that you technically never receive title of the house. Using a land trust is one such way. A land trust is a contractual agreement between two consenting parties. The agreement is between the party that creates the trust and the party that agrees to hold title to the trust. The grantor of the trust can also be the beneficiary, which gets full rights and benefits of the property. The trustee on the other hand is just the name on the trust agreement and therefore does not have title to the property.

After this has been established, it is time to refer to your buyers list to find an aggressive investor that is eager to purchase your interest in the contract. When you find an interested buyer you can make an agreement between the two of you, as trustee and buyer where you give one hundred percent assignment to your buyer. If there is an HOA, it needs to be made aware of the assignment to the buyer. Your buyer can then wire the money and the deal closes with you as the trustee and since your buyer owns the trust, he/she is protected. When this transaction is completed, you can proceed to deed the property from the trust to your buyer. This in turn terminates the trust agreement and you are free and clear. The deal is complete and you can advance to the next deal that is just waiting for you to be found.

Jeff Adams has achieved incredible success in real estate investing by harnessing the power of real estate investing online and unlocking the profit potential of a well designed website. Former Firefighter, Jeff now teaches investors nationwide the keys to building an effective website and to capitalizing on the growing Internet real estate marketplace.

 
Four Things to Consider When Flipping Houses PDF Print E-mail
Written by Cris Chico   
Monday, 01 March 2010 18:04

Four Things to Consider When Flipping Houses

For many wholesale real estate investors, the idea of flipping houses can be exciting and profitable.  Indeed it is with the right amount of due diligence to make your hard work successful.  There are many facets to buying and selling wholesale houses.  Knowing the factors that drive the wholesale real estate market internally and externally will produce a higher level of success with greater profitability in the long run.

Some of the considerations for finding the perfect wholesale house to increase your return on investment are:

Competition:  Many wholesale real estate investors think of competition merely as the real estate agents in a given area.  There are other forms of competition for wholesale home sales such as apartments or condos, if the region or society, like some areas of Florida supports more communal living arrangements.  Or, foreclosure and short sell properties touted by banks and lending institutions at lower prices to remove the property from their real estate inventory.  Equally, the new home market in any given area could be considered competition to your goal of flipping homes.  It is vital to look around with a fresh viewpoint of competition in a market.

Value Inflation:  In certain areas, the price of purchase verses the value of the wholesale home is almost unbelievable.  Although it might sound like a great buy to purchase a $350,000 house for less than $200,000, the market flounders in actual resell opportunities until the market for that area aligns with the realistic value of the property.  Seeking to stay away from areas, such as Las Vegas, where value inflation by speculators has caused the market value to soar over the actual value is essential to profitable success.

Price Compression:  Due to price compression, these areas have created a buyers market that can lead to longer retention times before flipping homes and more choices for buyers seeking the best deal.  Faced with so many choices within so many different prices ranges, buyers are able to bid down the price to create a sales potential under your actual purchase price.

Statistically Data:  Research is, without doubt, the most under utilized resource for securing the proper wholesale home.  More than just market indicators, seeking information on local initiatives, such as building green homes, rezoning, and property location, can lead to a better understanding of where to find potential buyers as well increase value of the sale with a proper benefit analysis.

With some careful consideration to these four influences for the wholesale real estate market sphere of influences, investors with have the insight needed to see the warning signs of an unfavorable market selection before proceeding into their first purchase.

As the creator of Virtual Wholesaling, Cris Chico is helping investors realize their dreams of financial freedom through his proven & guaranteed method of finding & flipping properties in hot markets (whether you live there or not)

Last Updated on Monday, 01 March 2010 18:06
 
Why is a Buyers List Necessary For Flipping Properties? PDF Print E-mail
Written by Charles Petty   
Friday, 26 February 2010 17:36

The Buyers List is a Must for Every Successful Real Estate Investor


In real estate, more than anywhere else, time is money and if your strategy is based on flipping properties quickly, then a buyers list is a very important compilation that you need in order to flip a recently-purchased property. You cannot afford to sit with a property after buying it. Here are some reasons why a buyers list is a valuable tool for flipping properties.

It Provides You With A Demand-And-Supply Chart. By creating a buyers list, you will be able to form a geographical chart that will point out the areas where there is a demand and other areas where there is an abundant supply of properties. Thus, if you have a property in areas where there has been a demand for the same, you can be pretty sure of being able to sell the property after making a few calls. In the same way, use a buyers list to purchase a property in areas where the demand is strong as it will assure you of a quick flip. Remember, if you have a property that is not sold quickly then it can mar your reputation as an efficient flipper. People might start harboring doubts regarding the physical condition of the property.

It Helps You Segregate Your Buyers. Instead of buying a property and calling everyone from a general list, compiling a segregated buyers list will help you in separating your actual buyers from investors, rehabbers, renters, landlords, etc. Thus, whenever you buy a property that has a high potential all you need to do after renovating is call a rehab buyer, who might be motivated to buy the property after looking at it. Similarly, a property suitable to be rented out could be flipped to a landlord that specializes in buying properties for renting them out. Such a list will save a lot of time and energy and will ensure that the right property reaches the right person interested in buying it.

It Helps You Establish Yourself In The Market. If you join a real estate association then you will be able to rub shoulders with other people with similar needs and expectations. Thus, by adding such people to your buyers list, you will be able to quickly sell off any property on hand and even purchase new properties. This will help you to slowly establish yourself in your real estate market.

It Helps You To Maintain A Positive Cash Flow. By maintaining an updated buyers list at all times you can quickly flip properties and this will contribute cash to your kitty. This, in turn, will maintain a positive cash flow and enable you to buy even more properties without any financial hitch.

It Provides You With A Wider Choice. By constantly maintaining a buyers list, you will have a wider range of buyers that could be interested in the property that you have on hand. You can now compare more offers and choose the offer that provides you with the most in terms of money or flexibility. This would not have been possible without a buyers list where you would have been forced to compromise your profit margin or accept rigid payment terms.

A buyers list is a necessity if you not only want to quickly flips properties but also want to do it on your terms. This should not be viewed as an obligation but rather as a highly useful tool to transact faster and high-profit deals.


Real Estate Investing Experts Kim and Charles Petty have been involved in over 700 real estate transactions in the last 9 years and are the creators of the Ultimate Turn Key Virtual Real Estate Investing Systems.

 
7 Steps to $7k in 7 Days PDF Print E-mail
Written by Charles Petty   
Friday, 26 February 2010 17:28

How to Make Quick Cash by Real Estate Wholesaling Online


Real estate wholesaling is a great way to make cash quickly and easily.  In fact, virtual wholesaling, allows you to use the power of the internet to generate quick cash in as little as seven days.

Following, we will give you a step by step breakdown, on how you can make $7,000 in 7 days.

Step 1:  Find a deal online and put under contract or option.
You can find deals in many locations, including Ebay.  You can also do a search for “investment properties” or “rehab properties.”  Those are great search terms.  Some other specific websites that you can visit are www.hud.org, www.southernreo.com, www.ocwen.com, www.lendersreo.com, www.countrywide.com and www.propertydisposal.gov.  Ideally, you should be able to find pictures, price, contact and other pertinent information on the website.  Remember, you are doing this virtually, so you should not have to leave your home. 

The seller should have their contact information listed with the property.  Give them a quick call, send them an e-mail or both, to do what you can to lock the property down.  One of the virtues of wholesaling properties virtually, is that the deals DO NOT have to be in your hometown.  If they are, that is fine, but you are not confined to any geographic location. You can literally search across the states, until you find the deal for you.

Step 2:  Assess the deal. Basically, you want to make sure that the numbers make sense and that this is really a good deal.  To do this, you want to compare recent sales in the area, with the deal that you are looking at.  Be sure to take into account any repairs (if any) that need to be completed.  You also want to compare deals that are the same construction and configuration.  For example, if your deal is a three bedroom brick house with 2 baths, it would be a good idea to compare those types of sales.  There are two online resources that you can use to make these comparisons and assess your deal.  They are www.virtualinvestorcomps.com and www.zillow.com.

Step 3:  Create your flyer or other marketing materials. There are key bits of information that you want to include.  They are:  a picture of the house, your sales price, the cost of repairs, and the ARV (After Repair Value).  You can probably use the same picture that you found when you located the deal on-line.  It is also a good idea to put information about any other extras that the house may have.  For instance, you can list hardwood floors, ceiling fans, appliances or anything else that makes the deal stand out. 

Be creative and include the type of information that you would want to see if you were looking to buy the property.  Be sure to include your contact information, so that prospective buyers know how to get in touch with you.

Step 4:  Post the property. This will allow other investors to know about the deal that you have.  Two good websites for this are www.craigslist.org and www.backpage.com.  If you already have an e-mail list of buyers, you should send the deal out to your list right away.  You can also do another on-line search to see where you can post your deal. 

Step 5:  Now is the time for you to communicate with your buyers. Respond to any e-mails questions or phone calls that you received.  When you find a buyer who is willing to pay your price, put the property under contract.  Ideally, you should e-mail them the contract and have them fax you the signed copy.  You can always have them mail the original.

Step 6:  Cash is king. This is something that you must never, ever, forget. Whenever possible, you want a buyer who can pay cash.  You want to tell your seller that you can close with cash.  This will help you get more offers accepted quickly, and at a lower price.  Of course, if you say that, you have to be able to close with cash.  So you always want to have cash buyers.  This is not as hard as it may initially sound, and it makes everything flow much more smoothly.  So, step 6 is to coordinate a cash closing.

Step 7:  Close! Most likely, your closing can be done virtually as well.  Check on-line for closing attorneys and/or title agents that will do this for you.  If you cannot locate one, choose one who will e-mail documents to you, your seller and your buyer.  Once you all send in the originals, you will get paid!

And that’s it.  This is your step by step guideline on how you can make $7K in 7 days using the power of turn key virtual wholesaling.

Good luck and God bless!
Kim and Charles Petty


Virtual Real Estate Investing Experts Kim and Charles Petty have been involved in over 700 real estate transactions in the last 9 years and are the creators of the Ultimate Turn Key Virtual Real Estate Investing Systems for investors all around the world who want to take advantage of the awesome profit opportunities in today’s real estate market. They are the worlds leading experts on Virtual Real Estate Investing.

 
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