4 Tips To Prepare Credit Score Boosts Far Ahead Of Time

Get your debt situation shaped up as soon as you can. Not only will this fiscal fitness program lift your qualifying ratios, it may also boost your credit scores.

Here are some tips:

1. Consolidate bills. One loan consolidation payment of $280 a month will hurt you less than four seperate bill payments of $125 each. However, don't close three accounts and run one up close to its credit limit. Credit scoring doesn't like "high" balances relative to credit limits.

2. Pay down debt. If your installment debt has only 11 or 12 months to go, prepay two or three payments. That pushes those debs off the table and out of sight--under the rules followed by most lenders.

3. Pay off debt. If you can swing it, get rid of as much debt as you can.

4. Avoid new debt. No matter how much you are tempted, do not take on new debt prior to applying for a mortgage. Even if you can easily afford it, wait until after you've closed your mortgage. To build wealth, permanently swear off destructive debt--debt you incur to pay for depreciating assets or wants rather than needs.

These tips especially apply if your ratios push against the lender's guideline total debt limits, if your credit score falls below, say, 680, if you're requesting a low-down-payment loan (a loan-to-value ratio of greater than 80 percent), or if you're trying to qualify for a non-owner-occupied investment property.

A pint-sized debt load will offset any warts in your borrower profile.


from "The Beginner's Guide To Real Estate Investing", 2nd Edition by Gary W. Eldred, PhD

How To Maximize Your Home As An Investment Asset

Is your home a valuable asset or a liability?



With the present economic crunch, many homeowners are left thinking if their house is a wise investment or merely place to stay. Is your home a valuable asset or a liability? Here are some of the major concerns of homeowners and tips on what they can do with the property given the present economic situation.

Is my home more of an investment or a liability?

Although your home can be considered your most valuable asset, it is unlikely to deliver greater gains in the long run as compared to investing in a diversified portfolio of stocks and bonds. This has been held true even before the drop of real estate values. Over the past two decades – including the period of the real estate investment growth—the average gains of home prices are just about 3.6% per annum as compared to stocks, despite their recent drops, were up 8.4% about the same period.

The Long-Term Advantages

There are, however, other important financial benefits of owning a home. A homeowner can benefit from tax breaks. These are deductions for property taxes and mortgage interests (plus, the first 500,000 that couples make after selling is tax-free). Owning a home could also be counted as an ideal savings tool— with every mortgage payment, you are forced to set aside money, thus keeping your savings intact in form of a tangible asset. This is also the key reason why most homeowners have a higher net worth than renters. Throughout history, real estate has been considered a good hedge against inflation.

Additional Tips

If you plan to resell your home in the future, don’t overspend in renovations, you might recoup when you sell. Instead, focus on fixing its problems and invest in projects that add functionality to the home.

Be realistic about your gains. In the long run, the value of your home can have an expected rise of about one to two percentage points over inflation.

7 Things To Do With a Real Estate License Besides Sell Houses

Sometimes after obtaining a real estate license the harsh reality sets in that life as a real estate agent is not quite as glamourous as it’s cracked up to be. Other times personal circumstances might change where a steady salary or work hours are necessary. If you find yourself thinking that being a real estate agent might not be quite the right career fit for you, there are many other things you can do with a real estate license besides selling homes.

1. Apartment leasing agents: Many landlords and agencies need someone who can show property to prospective tenants, write lease agreements, and take care of other details. Rather than hiring an outside broker to perform this work they will manage this process in-house and hire their own leasing agent as an employee.

2. Licensed Assistant: This can have its perks as you will probably have set hours, steady paychecks, and not get the complaint calls from clients. Become friends with the top producers in your area or watch for ads to see if any are needing extra help with their workload. You can also consider becoming a virtual assistant.

3. Writer: The internet is an open market for writers, especially those who can offer a viewpoint in a specialized field such as real estate. You can start your own website or publish articles on sites such as AssociatedContent.com. You can also search for paying writing jobs on sites such as sologig.com.

4. Real Estate Scout: Many companies often need someone to scout out properties for new locations or developments. There are also many investors who can benefit from having a full time employee on hand who can help find houses that have good future profitability.

5. Marketing Assistant: After having my daughter I just couldn’t see myself going back into real estate full time. I partnered with a few high profile agents and became their marketing assistant by helping them with mailing campaigns, brochure designs, newsletters, and other marketing related activities.

6. Home Stager: While you may need additional professional designations this can be a profitable business by meeting with potential sellers and helping them decide what changes are necessary to sell their home as quickly as possible and for the highest price. Bonus: You might even be able to earn some referral dollars by referring your clients to agents to sell their home.

7. Title and Closing: There are many title and closing companies that can offer jobs in gathering and coordinating the necessary documents and procedures for closings. As more and more banks depend on larger companies to do this for them, many job opportunities are available.

These are just a few of the many possibilities available in finding a new career where your real estate license won’t go to waste! If you have any other ideas, feel free to share them in the comments below.

from upstartagent.com

Choosing Your Real Estate Agent

It is recommended that you have a real estate agent help you with your transactions. But how do you know which agent to select? The choice can be difficult, but here are some questions to ask during potential agent interviews.



1. Do you have references from past clients? Ask their past clients if they were pleased with the service the agent provided them. Did they communicate in a timely manner, and were they kind and courteous?

2. What does being an agent mean to you? By asking this question you'll be able to see what their work ethic and business philosophy are. You want an agent that puts their priority on your happiness first, and their commission check second.

3. How long have you been in real estate? This is not to say that someone new to the business would not be a great asset. However, depending on the nature of your transaction, you may feel more comfortable with an agent with a proven record of sucess.

4. How many homes did you sell last year? Just because an agent has been in the business for a while doesn't mean they've been successful. You don't want to have your home on the market for months, when a savvy agent could have it sold in weeks.

5. What designations and certifications do you hold? Beyond holding a real estate license, agents can opt to expand their education and skills. There are a multitude of courses and programs available. In general, these certifications mean a more specialized agent.

6. What is your marketing plan? In an ideal world a house would just sell itself, right? But the market swings back and forth on a constant pendullum between being in favor of sellers and then buyers. If you are selling a house in a buyers market, then you need a solid marketing plan to make your home stand apart. Open houses, email campaigns, webcasts, and brochures are just a few of the items your agent may use.

7. Do you do dual agency? Dual agency is when the agent represents both the buyer and the seller. This is legal, as long as disclosed, but it may not be something you're interested in signing up for. Be sure to ask.

8. What are your home sales stats? It is important to ask them how long it takes them on average to sell a home. And then ask what the area average is. They should know this information off the top of their head, or at least have the statistics readily available.

9. How do you communicate with your clients? There is nothing worse than not being able to get ahold of your agent, with questions, for updates, and for feedback. In today's modern world of technology, there is no excuse for them not to stay in constant contact. There is email, texting, cell phones, and a myriad of other options. Ask what they use to stay in touch with their clients.

10. Do you have other connections? Meaning, will they be able to refer you to contractors, mortgage lenders, banks, landscapers, pool maintenance crews, and the like. This will be especially important if you are new to the area.


by Carla L. Davis for RealtyTimes.com

Good Buy or Goodbye?!

Tips to shopping for foreclosed, short-sale and flipped homes

It has a mountain out back and, apparently, a mountain of debt.

Weeds and overgrown landscaping obscure a for-sale sign in the front of the foreclosed home northwest of Deer Valley and Cave Creek roads in north Phoenix.


"This one is not too bad," real-estate agent Gary Holloway of Zip Realty said of the long-vacant home. "They get no love."

The four-bedroom house, built in 2006 by Courtland Homes, is missing a dishwasher, refrigerator and built-in microwave oven. It also has some quarter-size holes in the kitchen wall. Otherwise, it appears to be in reasonably good condition.

The foreclosed home in the Eagle Bluff subdivision needs appliances, new carpeting and paint at a cost of at least $15,000. The two-story 3,182-square-foot home has a good view of one of the unnamed Union Hills beyond the back wall.

And it could be a good buy for a cautious buyer who knows what to look for in a foreclosure.

Listed at $210,000, the home was in escrow and could become yet another of the thousands of foreclosed Valley homes that buyers have acquired from banks.

Arizona had 21,442 foreclosed homes in the first quarter of this year, according to RealtyTrac.

The state has the nation's second-highest foreclosure rate behind Nevada, with one in every 49 homes with a mortgage receiving a foreclosure filing in the first quarter, according to RealtyTrac. That's triple the U.S. average.

Just fewer than half of Phoenix's 5,183 home sales in the first quarter were foreclosures, Zip Realty reported.

Buyers of foreclosed homes can save tens of thousands of dollars on the purchase price. But real-estate agents warn of pitfalls.

Jeff Barker of Diamondback Realty in Scottsdale said buyers must rely on a home inspection to protect themselves when buying a foreclosed home.

No disclosure of missing appliances or damage is required at the trustee sale of a foreclosed property.

"You've got to do your due diligence," he said. "And hire a good real-estate agent."

Buyers often make a big mistake in underestimating the cost to remodel a foreclosed home, said Barker, who has listed about 75 homes for banks.


Learn home market

Ron Bernier, a broker with Zip Realty, said buyers can better understand the market value of a property by driving past it and seeing conditions in the neighborhood.

Buyers can expect to be bidding against others for foreclosed homes in the lower price ranges. Plus, deals often fall apart when a property does not appraise at a high enough price to satisfy the new lender.

Holloway of Zip Realty said buyers might also consider buying a previously foreclosed home that an investor already has remodeled, what's known as a fix-and-flip property.

The traditional resale market is struggling to compete on price with the distressed properties and fix-and-flip homes, he said.

To reveal market options, Holloway visited the Eagle Bluff neighborhood to show the foreclosed home mentioned earlier, as well as a similar short-sale home and fix-and-flip home.


Deal or no deal

The short-sale home, slightly smaller than the other two, was listed at $240,000.

It was in better shape than the foreclosed home, with nice cabinets and light fixtures in an upstairs office. But simulated-wood flooring had been poorly installed, and most buyers would likely choose to repaint the home's neon-colored bedrooms.

Holloway also warned that a short-sale price is not "real" until a bank accepts an offer from several bidders.

"Don't fall in love with it, because it's not real until you own it," he said of a short-sale home.

The same goes for foreclosed properties. Holloway advises clients to keep looking because distressed-property deals often take a long time to complete and can fall apart completely.


Home shows well

The fix-and-flip home he showed was nicely staged.

"Investors know the drill," Holloway said. "It's like a model home. They even installed a new doorbell and coach light at the front door."

Inside, new granite countertops, back splash and cabinets had been installed, along with new tile, carpeting and kitchen appliances. It comes with a home warranty.

The house listed at $270,000, but the investor had agreed to a price of $265,000 before a buyer got cold feet.

At $265,000, the investor stands to make about $15,000 in profit, Holloway said. The previously foreclosed home sold for $195,000 and the investor spent about $35,000 on remodeling it. The investor also will spend about $20,000 to market the home and pay closing costs and commissions.

The extra cost of the fix-and-flip over the foreclosed property might be a better deal for someone wanting a home that's move-in ready.

However, Barker of Diamondback Realty warned that buyers should be careful with fix-and-flip homes because sometimes the remodeling is cosmetic, with cheap carpet, paint and generic appliances.



Read more: http://www.azcentral.com/business/realestate/articles/2010/04/23/20100423how-to-buy-foreclosure0424.html#ixzz0o71PVKdP

7 Great Twitter Tips 4 Affiliate Marketers

Affiliate marketing is a fantastic way to make money online. Twitter is a great way to increase your sales. Just be careful so your Twitter experience is a pleasant (and profitable) one.

Here are 7 tips that affiliate marketers should keep in mind:

1. Be personal with your tweets. Don't send out the same tweet over and over or to different people. If people are tweeting about needing holiday presents, don't send, "Hey! Shop at my site www.blahblahblah.com" to everyone! Tweets should be personal, not canned.

2. Be genuine with tweets. Don't try to be something you are not.

3. If you do send a sales link, send it as a natural part of the conversation. If you chat with people, eventually they will ask what you do (or you can drop subtle hints) - then you can mention it.

4. Don't send a direct link to your product. Send a link to your blog or a general informational website. Don't be so blatant about trying to get a sale.

For example, if a Twitter mom complains about not doing well with potty training Junior, don't send her a link to your ebook on potty training; instead, send a link to your blog post that discusses potty training ideas (that can include your affiliate link to the ebook). You will get a much more favorable reception.

5. Be useful and helpful. Not every tweet has to be about "you, you, and you". Take time to tweet about others and be a helpful part of the community.

6. Listen to your followers. Ask questions, and then help them out. You can get great feedback from tweets. (I get lots of ideas for info products and affiliate products from the feedback I receive from my followers.)

7. Use tweets in moderation. Don't tweet about every single thing you do. (Like "going to the store" - do people really care?) Don't send direct affiliate links. Don't toot your own horn all of the time. Let people hear from you, but don't be too chatty.

Used correctly, Twitter is a great way to add to your profits. Just make sure to use it wisely.

5 Great Tips 4 Real Estate Investors!

Investing in real estate is one of the most attractive ways available to most people to set themselves up financially for life. Moreover, real this can be done by almost anyone by starting with one property and building up slowly and safely.

A lot of people practice property investing as their core profession and, in fact, can make a lot of money that way.

Real estate investing is really an art and, like any art, it takes time to master. The key, of course, is to buy at a lower price and sell at higher price and make a profit even after paying all the costs involved in the two (buy/sell) transactions. Although another way is to buy and hold property over the long term. Generally, people are of the opinion that investing makes sense only when the values are on the rise. However, real investing for profits is possible just about any time (and as I just said, real estate investing is an art). Here is a list of tips that can make investing in property profitable for you:

1) Look for public auctions, divorce settlements and foreclosures (bank/FHA/VA): Since quick settlement is the preference here (and not price), you might get a property at a price that is much lower than the prevailing market rate. You can then make arrangements to sell it at the market rate over a short period of time. However, make sure that the property is worth the price you are paying.

2) Looking for old listings: The old listings that are still unsold may provide you with good real estate investing opportunities. Just get hold of an old newspaper and call up the sellers. They might have given up hope of selling that property at all and with a bit of negotiation you can get the property for a real low price.

3) The hidden treasure: A really old (and dirty) looking house may scare off buyers. But this might be your chance to buy at a discount that can yield good profits. So, explore such properties and check if spending a bit on them can make them shine. You can get these at very low prices and make a big profit in a short time.

4) Team up with attorneys: There are a number of attorneys who handle property sales on behalf of sellers or in special circumstances (like the death of the property owner). They might sometimes be looking to dispose off the property rather quickly and hence at a low price. Be the first one to grab such real estate investing opportunities and enjoy the profits.

5) Keep tab on the newspaper announcements: Property sell offs due to deaths, divorce settlements, immediate cash requirements and other reason are frequently announced in local papers. Keep track of such real estate investing avenues.

Using the above tips you could pick up property at a discount and onsell for a profit or you could rent out the properties and use the rent to boost yor income. If you do this enough times you could even retire and live off the rents.