Rent or Sell....What should I do??

Rent or Sell....What should I do??: "Alot of you know here that i rehabbed this house using my credit cards ect. Well anyways, the house has only been on the market for about a month now and i have had no offers.This doesnt scare me as i definitly know i can get it sold but I do know it takes time. Anyhow, my low interest rates are about to go prime here in the next month or so and i need to refi it. Here is what i am thinking right now.

The House appraises for $45,000 so I will
Refi. House for $30,000. ($18,000 material and $12,000 for my labor so i will be pocketing the $12,000)

P&I = $222 per month
Taxes = $71 per month ($850 per Year)
Insurance = $38 per month ($450 per year)
10% Vacancy= $55 per month
Maintanence/management 10% =$55 per month"
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Anything wrong with my deal?

Anything wrong with my deal?: "I am purchasing a 12-units apartments with 320k, the
same price when the owner bought it 2 yrs ago.
the property is fully rented out with $4000 per month total in rents.

However, I don't understand why the seller need to sell it,
who just said she need to start some new business but actually she
only own it for 2 yrs. I really doubt this is the real reason for her to
sell it. When I asked her about her relationship with tenants, she
said she learned a lesson before with one of them, but she is
reluctant to explain more. Well, the 2-story building has wood
stairway and deck, some steps looks pretty new . "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

What to offer on 2nd?

What to offer on 2nd?: "I recently signed a contract subject to a short sale. I have submitted my offer and package to the 1st lender. I am still waiting for authorization for the 2nd. I think I understand that what you offer on the 2nd largely depends on what the 1st will accept so how do I make my offer on the 2nd before I know what the 1st will take?
Thanks for any imput!"
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

New REI First deals gone bad

New REI First deals gone bad: "Hello all,

First I must say I like this site. Very helpful and I thank the people that post and keep things moving.

I am about to lose my First 2 properties I invested in as a REI. I'd hate to go into the long story of what happened but I got screwed and the people I purchased the properties from I feel knew I was a new REI and took advantage of me and my wife.

Long story short we invested in 2 houses that they sold us and being new we didn't ralize these properties were not the best to invest in so its been over 5 months and we are unable to rent the properties to anyone, the area is that bad. I am just about out of money to pay the mortgages.

Now im stuck with 2 prooerties I cant sell or rent out and the perfect credit I built most of my life is about to be ruined.

My question is if I cant get anyone into the properties or sell them, what happens next? I know it's a silly question but I am about to be in a world of hell as far as my credit goes. I really like the idea of REI. I have learned a lot in this terrible "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Foreclosure Listing Services

Foreclosure Listing Services: "There are many foreclosure listing services. Can someone recommend a good one?
Their prices also varies.

Thanks

Mark "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

3 Good Reasons Not to Over-Finance Your Properties

Vena Jones-Cox - 3 Good Reasons Not to Over-Finance Your Properties: "With the advent of 90%-100% LAV loans on investment properties, many investors are taking the opportunity to finance or refinance their properties at a higher percentage of value than normal. Many are taking cash out at the closing, and many are choosing to pay close to retail for properties that qualify for this financing, on the theory that a no money down deal is a good deal, even if it only cash flows a little. Smart investors avoid the temptation (and the strong come-ons by mortgage brokers) to do this. Here's why"
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

How to Save Up to 90% on Title Insurance

Bill Bronchick - How to Save Up to 90% on Title Insurance: "If you have ever bought or sold real estate, you have probably paid for title insurance. What exactly is title insurance? Why do we need it? How can I save money on title insurance? These are common questions asked by real estate investors.

Whenever title passes, the seller usually gives a deed containing certain guarantees or 'warranties' (hence the name 'Warranty Deed'). The seller warrants that title is good, that is, no one will come challenge the integrity of the title. For example, if a deed that was passed before him was forged, all subsequent transfers are void. Other problems may be more subtle, such as a deed with an incorrect legal description or misspelled name. Any irregularities in the 'chain of title' will place a 'cloud' on the integrity of the title."
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Barry Grimes - What's the Best Way to Get Started?

Barry Grimes - What's the Best Way to Get Started?: "That?s probably one of the most common questions asked by people wanting to begin real estate investing. Another common question is, ?How do I find a mentor to work with?? Of course there is no one perfect answer for everyone. It depends on a number of factors including; money available, goals and current skill level. But, for my money the answer to both questions is bird dogging or as I call it Real Estate Jobbing.

A Real Estate Jobber is a person who finds qualified leads for professional Investors, through a variety of sources using a systematic process."
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Rising ARMs Putting on the Pressure

Modbee.com | The Modesto Bee: "As soon as Lorie Limbaugh heard about a 1.25 percent interest rate on a mortgage loan, she figured it was too good to be true.
The bank teller and her husband, James, a plumber, met with a broker who said he would guarantee the rate for five years, and then talked to other companies, which couldn't match it.
Things progressed smoothly with their $275,000 adjustable rate mortgage until the rate began to climb -- it's now 6.25 percent -- despite what they had been told. Today, they are facing a refinancing penalty and are unable to help a son who wants to attend a trade school."
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Partnership Helps Homeowners Facing Foreclosure

Partnership Helps Homeowners Facing Foreclosure: "More help is on the way for homeowners whose financial difficulties may place them at risk of losing their home to foreclosure.
The Homeownership Preservation Foundation (HPF), a Minneapolis-based national nonprofit dedicated to preserving homeownership and preventing home foreclosures,hasjoined forces withNeighborWorks America to jointly expand their efforts in reaching homeowners as early as possible to prevent homeowners from reaching the point of foreclosure. The partnership will link HPF's 1-888-995-HOPE toll-free hotline, which offers free foreclosure prevention counseling and advice, with NeighborWorks' national network of organizations that provide homeownership education and counseling services."
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

How to Buy Real Estate with No Money Down

How to Buy Real Estate with No Money Down: "Late night TV is full of seminars touting no-money real estate buying systems. Real estate has been booming the past few years and many people have made many millions of dollars investing. So what methods can a person employ to buy property with no money down?
A popular method is to ?bird-dog? property. Investors are always looking for deals but don?t have the time to search out every opportunity. Some investors are open to deals found by bird dogging. They may pay you a finder?s fee or cut you in on some of the action. "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.