I WANT TO BUY A HOME! WHERE DO I START?

Buying a home is a exciting, yet complex process. Always hire a professional to help advise you through the process. If you are not sure where to begin, I will help you. Before you run out tearing up the streets looking at homes, the first thing we need to do is determine your needs. [Step1] Everyone needs are different. You should consider what size home, location, amenities and budget. This may be the toughest consideration. Look carefully at your budget and determine what you can comfortably pay for a home. Consider any anticipated changes, for instance if you are a two family income with a baby on the way, you may want to base what you can afford on one persons salary. [Step2] Getting pre-approved for a home loan.This is by far the most important part of the process. Getting pre-approved will save yourself the grief of looking at homes you can not afford and put you in a great position to make a serious offer when you do find the right home. Now, don't be confuse on pre-qualification and pre-approval. Pre-Qualification is when a lender send you a letter in the mail stating you can borrow x amount of money base on a cursory review of your finances. Pre-Approved is when a lender that you have spoken with reviewed your income, debt, credit history, and approved you for x amount of money for a home. [Step2a] Before you step into a bank, you want to see what, if anything, lenders are saying about you. This information is contained in your credit report. Credit reports are used to create credit scores and typically use to gauge credit worthiness. Opening a checking and savings account is one of a few things you can do to start building a financial history. Lenders see bank accounts as a sign of stability. Paying your bills on time all the time is the best way to keep your finances in shape and build your credit at the same time. Keeping your credit card use to less than 30% of your limit will help you keep a good score, but paying it in full is always better. [Step2b] Piggyback on someone else's good credit. A quick way to establish credit history is for someone with great credit to add you to their credit card as a joint account holder, or co-sign a loan for you. Having a co-signer can allow you to qualify for loans you might not otherwise get. Remember, use revolving accounts lightly but regularly.[Step3] Once we know what you can afford,now it time to find a home. When you go looking for a home you want experience to follow you. That is what we offer our clients.We over look the emotional aspects of becoming attach to a house, and guide you away from pitfalls you may have overlooked, or have no clue about when buying a home. This may be the biggest purchase you ever make, and you will need a company that will provide you with the necessary facts to make a confident, informed decision.

Real Estate Investing Tip #3

I am so excited this evening to share with you all this money making tip. This is the cream of the crop on how to cash flow in real estate. I call this Rated R real estate for mature audience only; By the way the R stands for Residential. You ever see those annoying signs that say Sell Quick call 901-111-222. Would you believe that people call all day long with problems that need solving. Here is the tip, it is called Bird dogging or Assignment of contract. Lets say Mary call my number off the  sign and say she needs to sell fast because her job is relocating her out of state. Perfect $$$$ now Mary home is worth $200,000 in a down market but will soon be worth $260,000 in a good market. She owes $85,000 but needs to sell fast remember! After speaking with me we negotiate a selling price of $95,000 and 45 days to close. I put the house under contract and give her $100 earnest money, now I got 30 days to find a buyer and 15 days to close. I find my buyer, run the numbers and me and the new buyer settle on a buying price of $105,000. What just happen; I am not selling a home, but I am selling a contract to purchase a home. I found a great deal that no one knows about but me and the home owner, I legally have a law binding contract to purchase a home but assigned the contract to my end buyer for $10,000. What was my risk? One hundred dollars.