Real Estate Update

Peter Built asked:




If you are reading this chances are you will be involved in a sale soon, where you will be needing to use rent to own contracts. Here are a few things you might like to know before paying to have a lawyer write your contract.

 

There are really only three real options when looking for rent to own contracts. You can buy one online that has been created for a different deal, NOT your own, and NOT custom.  Two, you can hire a lawyer to write your contract for you. But that can take weeks before you have a contract in hand. Then, we have option three. You can use a contract writer to write the contract for you. The finished product is a custom made contract for YOU, and you have it quickly, and you have it cheap. Now the only reason you MIGHT need a lawyer is if the lawyer is going to review your rent to own contracts before you use them.

 

What on earth is a contract writer?

A contract writer is a program the you can use to write you contracts for you. Let me walk you through it. The contract writer asks you a series of questions to determine what type of contract you need, what are the best clauses to write into the contract, and what type of market the contract will be used in. The process takes only minutes and you can write as many different rent to own contracts as you need.

 

If you would like to know more about contract writes, and or rent to own contracts you can learn more herehttp://www.squidoo.com/TheContractWizard

 

 

 

Roilee Mandeville asked:




Are you planning to file bankruptcy but you’re not sure if you can afford to employ a lawyer? Everyone who is in bad debt problem would like to know how to find a cheap bankruptcy lawyer. Well, here’s how to do it in ten minutes or less.

Online Resource #1:

Use Yahoo! Local located in local.yahoo.com

Key in the search phrase “cheap bankruptcy lawyers” in the first search field. Then key in your location on the second box and click the “Search” button or press “Enter”. Yahoo! will then give you a result of attorneys that matches your search term. You will also see a map with markers on it. Click any of the marker and you will see the actual web site address, phone number, and local address . You can also perform the above procedure using Google Maps located in maps.google.com

Online Resource #2:

LexisNexis’ Martindale-Hubbell Attorney Network located in www.attorneys.com

This is LexisNexis’ online version of Martindale-Hubbell comprehensive lawyer directory. Under Step 1, key in your zip code. You need to click the [+] sign for Bankruptcy under the “All Areas of Law”. It should expand, now select “Consumer Bankruptcy” and click the “Search” button. You should have your list of consumer bankruptcy lawyers. If the list is too few, then you can use the zip codes of adjacent cities near you.

Online Resource #3:

National Association of Consumer Bankruptcy Attorneys (NACBA) located in www.nacba.org

This is a exclusive organization dedicated to serving the needs of consumer bankruptcy attorneys and protecting the legal rights of consumer debtors in bankruptcy. When you visit the home page of NACBA, click the “Find attorneys near you!” banner located at the right sidebar. After the search page loads, key in your hometown or city and state in the search box. You must choose one radio button under the “Location (within)” label, for example 20 miles. Click the “Search” button. It should give you a location map with markers and a list of lawyers and law firms that are inside the area coverage that you selected. If the list is too many, you can narrow down the results by selecting a smaller area coverage under the “Location (within)” label, for example 5 miles.

Some Warning On Choosing A Bankruptcy Attorney

An attorney can either represent the creditor or the debtor. Make sure the bankruptcy attorney that you are getting is a “pro consumer” and not a “pro creditor.” Remember that bankruptcy is not an easy matter, you do not want your attorney to miss the intricacies and complexeties that could save you money and property in the long run. Never assume that free or cheapest is better. Experience always counts.

A Quicker Solution:

Are the above procedures too difficult for you? If you do not have enough time to call and visit bankruptcy lawyers then try the simple 3-stage process of finding cheap bankruptcy lawyers. Check the instructions on how to easily locate your low-cost bankruptcy attorney using a free service located at http://www.bankruptcylawyersandattorneys.com/cheap-bankruptcy-lawyers.html

Peter Menkin asked:


Thursday, June 12, 2008

One of “older” poems,

On Contemplation and about my Apartment in Mill Valley, California USA

This tells of contemplative prayer, the experience of rising like a hawk, or soaring, as does the hawk. God comes closer to humankind, humankind comes closer to God. That seems an unusual statement in our times, nonetheless, the Lord is here whether we know it or not.

I moved from the apartment on the third floor as place of viewing the hawks and place of prayer, to an apartment on the third floor at the other end of the building, place of viewing the hawks and place of prayer. I don’t seem to see hawks so much anymore, yet I believe there is a soaring sense of beauty in prayer. God is near, often.

It is almost summertime here in Northern California. We have a heat wave. 92 today.

Apartment on the Third Floor

by Peter Menkin

This apartment, top, third floor

one among hawks who build

nests

has sun. This

room gets afternoon light;

morning, too, streams

in creating simplicity.

The hawks sit in the

trees, communing.

The world goes on, in steel

complexity.

Warm, here just roof above,

and

among the trees in

company of hawks

who nest. One hawk

sits

on a branch, lit by engaging

moments of

sun; spring newness amid

the gray manmade

world that impedes yet connects

the eternal life.

Thank you morning through

daylight to night,

bright stars for a promise

of goodness.

God.

Witnessing the light.

I remark to you of



divine moments.

We enter mansions heavenly, just flesh

and spirit.

Ascending.

Audio reading by aspiring poet Peter Menkin is here: http://www.archive.org/details/ApartmentOnTheThirdFloorByPeterMenkin

Kate Faulkner asked:




Knowing the good news for property investors is only half the story! Investing in property is a roller coaster ride and you need to avoid major and minor mistakes when investing in property or you could lose a lot of money rather than gain the riches property investment can bring!

Here are our top 10 ‘bad news’ stories for property investors to be aware of:-

1. The current property stock to purchase is low, so to find a great Below Market Value deal you need to search through 150 property deals, find 50 that work, and then find 10 that’ll take an offer. Of these you can usually bag one!

2. Some areas and property types with oversupply in 2010 will FALL in value, so beware what you buy!

3. Finance is tough to find, you need (and will continue to need) 25% deposit and if buying to let, rental income 130% of the mortgage costs.

4. Fees are on the rise. For example, mortgage costs are up to 4% of the property’s value and fees in the thousands of pounds. Some insurance prices are going up due to the increased number of tenant arrears.

5. Mortgage rates for new properties are likely to remain at 5-7% long term.  Some investors’ portfolios won’t stack up at these rates – will yours?

6. Rental income inflation usually lags behind actual inflation and if it doesn’t keep up with your rental cost inflation, the income you receive will be worth a lot less.

7. Average yields of 4-5% for buy to let is not enough to cover you for the ‘unexpected’ in the future eg interest rate rises, oversupply of rental properties. As a result, if income is your prime investment objective, then it’s essential to ensure your rental property delivers more than the average! Some investors look for 8%, others for 10% minimums.

8. Rent arrears are on the rise from tenants being made redundant, costing some landlords thousands of pounds!

9. Local Authority Housing allowance being paid directly to tenants is causing some poor landlords to lose out to tenants sending the money somewhere else, or just spending it on themselves!

10. Population changes in the next 15-20 years WILL change the demand for property stock in the future. An ageing population that lives outside of London are highly unlikely to be that interested in small one or two bed flats that are three or more floors up!

So property investors need to wade through troubled financial waters and also now not just buy something that looks like it stacks up now, but identify when and who you will sell onto, to make a profit in the future!

Thinking about Buy to Let or already a Buy to Let investor?

Don’t do anything without purchasing one of our Buying and Renting a Buy to Let Property Packs to ensure you avoid costly mistakes with your property investments.  The pack is full of comprehensive information covering all aspects of buying and running a buy to let property. Each pack also comes with a FREE Which? Book – Renting and Letting or Property Investor’s Handbook, plus full access to the Designs on Property website, and all the expert and independent help you require from the UK’s leading property experts.

Chris Chico asked:




Flipping houses is a great way for beginning real estate investors to earn enough capital or garner enough collateral to make larger and potentially more profitable investments. Houses offer great opportunities for successful investments because they can be purchased without a lot of upfront capital  and are relatively easy to obtain, they are in great demand in most real estate markets therefore they are easy to flip, and there is relatively little financial risk compared to larger, more involved real estate transactions. For these reasons many beginners in the investment field get their financial feet wet by buying and selling residential properties.

Thousands of residential properties changes owners every day; since these transactions are so common banks and other lending institutions offer certain financial short cuts in order to streamline the process. These shortcuts make purchasing a home much more affordable than other real estate properties. Since purchasing a home is more affordable (the average single family home costs two hundred thousand dollars) than other investments, an investor does not need a lot of upfront capital in order to complete the transaction. Most banks only require a ten percent down payment. This means that if a house costs one hundred thousand dollars, the purchaser only needs ten thousand dollars for the purchase. The remaining balance is fronted by the lending institution for a fee.

Many institutions will accept other assets in lieu of actual cash. For many investors this may be a better option. This means that instead of paying the initial down payment, the purchaser can declare a car, boat, or any other owned property that is valued at or above the initial down payment. Therefore, a home can be purchased without any cash on hand at all. There are even government programs that can help with the purchase of a home. While these are intended to benefit home buyers, real estate investors can also take advantage.

Flipping houses for profit is also a great way to generate capital for other investments because the demand for these properties is great in most real estate markets. When property sellers decide to sell their real estate assets the most important step is to locate and identify potential buyers. Since homes are in constant demand, there is a ready supply of buyers. Therefore, there is usually no need for a lengthy, costly, and time consuming process of searching for a buyer. Many times a house will sell itself. This means that simply placing the property on the market is usually enough to get the house sold.

Compared to other real estate investments which may run into the millions of dollars, residential investments is relatively low risk from a financial standpoint. If a house does not sell immediately, then the cost of maintaining ownership of that house is not overwhelming for most people; whereas the continued ownership of a larger commercial property might be too expensive to maintain. It is also less of risk because, as we have already discussed, the initial investment is comparatively small if not nonexistent.

Therefore, many beginning investors begin their career by flipping houses for profit. It is an easy and relatively low risk method of building capital and assets for larger and more profitable investments.