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I am no real estate guru but I would like to share my view on this.
Ideally we should invest for the cash first then for capital. However, It depends on the level of your negative cash flow. If you have little negative cash flow, say less than $50 per month but have around $600 capital gain per month then I don’t see why you should sell your property.
Just my opinion ïŠ
How to build passive income with Robert Allen Team?
http://euanmackenzie.successfulpeople.com/Steve, thank you so much for the reply.
We have a house in NZ but we don’t live there.
Do you suggest us to sell it now?thank you
How to build passive income with Robert Allen Team?
http://euanmackenzie.successfulpeople.com/I’ve heard the real estate in the USA is at the peak stage?
you might want to read this article
http://www.richdad.com/pages/article_dollar_crisis.aspHow to build passive income with Robert Allen Team?
http://euanmackenzie.successfulpeople.com/Originally posted by Abby:How is it possible Jack Hu that your parents are both “newbie” to RE and yet own 2 properties outright over and above their PPOR???
You’re tripping yourself up as usual, aren’t you Jack Hu? As always, your posts seem to be thinly disguised advertising for your latest scheme.Who has the time to give you a decent answer when you are trying to question someone’s integrity without even trying to know the situation first
Passive income:
http://www.unitoday.net/healthyjack/mystory_en.cfmMy short term plan for MY PARENTS house is this:
My dad has retired when he was 45, he is now 52, and he wants to invest in the real estate too but he doesn’t know how. He can retire early because of his former job.
One of my friends is 27 years old and he has invested in 13 houses and he works as a real estate agent. Unlike most real estate agents, he invests in the real estate market too. My plan is to encourage my dad to listen or read some real estate material first and use the equity of house and refinance it and start with small real estate deals. Of course we can ask my uncle and my real estate agent friend for some help. The franchise is the long term plan, and it seems refinance the equity for small real estate deal makes more sense in the short run. What do you guys think?
Passive income:
http://www.unitoday.net/healthyjack/mystory_en.cfmThanks for all your suggestions.
I think a better way to use the equity is to refinance it for another real estate property.
My parents are newbie to real estate investment so I would recommend to start with small deals, what do you guys think?
Please give me some advices.PS, I do think it’s a total waste that they own 100 equity of the house, on top of that, they own 2 houses with 100% equity.
Passive income:
http://www.unitoday.net/healthyjack/mystory_en.cfmHi,
You can find a local agent for more information.
You can interview some agents with the following questionsHow long have you been in this business?
Have you ever written and brochures, websites, articles or books?
How Busy is your business?
How many clients do you serve on a daily basis?
Can you promptly be reached at any time of the day or night in the case your assistance is needed?
What are some big scale projects you have worked on?
What are the big successes in your life that you are proud of?
Do you have network of other professionals, consultants, lenders, mortgage brokers etc… that you either work with currently or have worked with on projects in the past??
Do you like to work with other professionals, and consultants on a team??
And finally what does the word Integrity mean to you??
Hope this helps
Passive income:
http://www.unitoday.net/healthyjack/mystory_en.cfmI assume you want to purchase that property for the purpose of creating positive cash flow, well yo can ask the vendor whom you are buying off to sell you the property on vendor finance too and then rent it out under a buy and hold investment strategy.
ASK IT ! You won’t get it if you don’t ask.
Passive income:
http://www.unitoday.net/healthyjack/mystory_en.cfmIn your yahoo, msn, google or whatever search you have, type in, “no money down”. You will come up with a bunch of lenders that way.
There is a book by robert allen called nothing down.
Passive income:
http://www.unitoday.net/healthyjack/mystory_en.cfmThanks for sharing
Passive income:
http://www.unitoday.net/healthyjack/mystory_en.cfmYou might want to ask some questions
Here’s the due dilligence list:
1. I assume you plan to rent out the property. What do properties typically rent for in that area?
2. What is the vacancy rate for the area? Ask the realtor how long properties take to rent in that area.
3. What are the real estate taxes?
4. How much will it cost to insure the home?
5. What do average homes sell for in that area?
6. Can you make captical improvements to the property to increase its value immediately? For example, is there a walk-up attic that can be turned into another bedroom for only a few thousand dollars?
7. How fast are properties appreciating in that area?
8. What is the condition of the house, ESPECIALLY the roof? Older than 10 years and you could be in for a huge, sudden expense.
9. Do you have enough of a slush fund to support you in the event sudden expenses or vacancies occur?
10 You can try to find out some ways to raise your rent.Good luck.
Passive income:
http://www.unitoday.net/healthyjack/mystory_en.cfmI think the besting timing goes to the EDUCATED investors
Passive income:
http://www.unitoday.net/healthyjack/mystory_en.cfmHi
Just because you don’t have the funds to invest doesn’t mean you can’t make a start. There’s always a way to solve a problem.
YOu can go to some banks, and you can use the services of a mortagae broker to help you shop for the right loan for your circumstances. This will save yo a lot of time and it’s usually a free service as the broker is paid a commisssion from the lender.
Passive income:
http://www.unitoday.net/healthyjack/mystory_en.cfmHi there,
Most people think that their biggest assets is their home, but more often they are not aware that their homes are actually liabilities as they create negative cash flows.
Things will always work out best for those people who make the best of how things work out, so if you think your property has a great potential to increase in value then you should buy and hold or else you should make some changes. It is hard to tell whether your property will increase in value that is huge enough to cover your needs, but I am sure you’ve learned something.
Seize the day
you can refinance this equity and use the money to invest in something else.
Have you read Nothing Down by Robert Allen? That is a great book to read
Some tips for you
1. Choose 3 banks in your area
2. PICK A loan officer you can realate to
3. Go to another bank if you feel you are not welcome
4. ask your loan officer if he owns real estate
5. determine what the loan officer’s credit limit it
6. ask the officer if it is poissible to establish an unsecured line of credit
7 Borrow as much as you can
8 replay your loads
9 repeat this process with a larget amount
Hope this helps
PS this is for the short term longYou should try to establish a good credit rating so you can borrow large amounts of money quickly on an unsecured basis.
If you don’t alredy have a good credit rating , open checking accout at several banks. Find those whose loan officers are friendly and interested in helpin gyou establish a credit rating of through borrow small amounts of money. I believe there will plenty of banks in your area to deal with, and banks are in a keenly competitive business so YOU are the BOSS and don’t be afrid to get up and walk out of a bank that is not reponsive to your needs and wisheds.
Hope this helps
We are giving away the free reports and audio files by Robert G. Allen for the next 3 months. You can email me for the free reports and audio files.
[email protected]There is a saying in the banking business: “We don’t give unsecured lines of credit to bullfighters, parachutists, and real estate investors”
Be prepared to answe these questions when you apply for such a loan:1. What is your income?
2. Do you keep your income tax returns
3. The bankers would like to know why you are borrowing, and you should let them know that you are borrowing so you can invest in something that will increase in value.
4. Can you verify your down payment requirement
5. Have you borrowed any portion of your down payment?Hope this helps
We are giving away the free reports and audio files by Robert G. Allen for the next 3 months. You can email me for the free reports and audio files.
[email protected]You should try to establish a good credit rating so you can borrow large amounts of money quickly on an unsecured basis.
If you don’t alredy have a good credit rating , open checking accout at several banks. Find those whose loan officers are friendly and interested in helpin gyou establish a credit rating of through borrow small amounts of money. I believe there will plenty of banks in your area to deal with, and banks are in a keenly competitive business so YOU are the BOSS and don’t be afrid to get up and walk out of a bank that is not reponsive to your needs and wishes.
Hope this helps
We are giving away the free reports and audio files by Robert G. Allen for the next 3 months. You can email me for the free reports and audio files.
[email protected]Why do so few of us ever reach financial freedom?
I think there are three main reasons
1. Most people don’t believe it is possible or have given up trying
2. Most people don’t have a specific plan for achieving it
3. Most people are not willing ot do something about it NOW.You can stil make a fortune in real estate!
Seriously, can you ennvision a time when your local people won’t buying and selling real estate?
Can you envision a time when your people won’t want to be financially independent? Of course not. As long as people need roofs and families grow kids, real estate is asure bet-barring, of course, another Great depression.Yes, it is still possible for you to retire wealthy from your real estate investments.
Hope this helps[cap]
We are giving away the free reports and audio files by Robert G. Allen for the next 3 months. You can email me for the free reports and audio files.
