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Broker Price Opinion Training – Land BPO Deals For Increased Income

Broker Price Opinion Training – Land BPO Deals For Increased Income

Broker price opinion training is starting to become a hot topic, and with good reason. Several years ago, lenders did not have much of a need for this service as the economy was trucking ahead and mortgages were flying off the charts. But in the past couple of years, it has become increasingly evident that the amount of back owned property is only going to continue to increase at break neck speeds.

This presents a wonderful opportunity for Realtors to generate income for themselves during a difficult time in the home sales market. This opportunity is in broker price opinion (BPO) services, and there is no shortage of lenders, banks, and investors that need this service from a good real estate agent.

The process is actually quite simple. You will use your skills and tools available as a Realtor to give an estimated property value and selling price on real estate that has either been foreclosed upon by a bank, up for auction, or potential investment. The reports take into consideration market trends for the area, pulling comps on recent transactions, and forming your opinion in a simple report.

The only training you really need is learning how to find the companies and resources that are actively looking for real estate professionals to appraise properties. Many banks are even using broker price opinion services as another tool in refinancing and home equity line of credit applications. That is why a wonderful place to start your BPO business is with these local banks who will not have the in house resources available to appraise on their own.

Small, local lenders are much more likely to outsource this service as it financially makes sense for them, and helps give them more protection in their lending decisions.…

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Getting Cash For Houses – Undoubtedly the Best Bargain

Getting Cash For Houses – Undoubtedly the Best Bargain

A home is the most valued property of its owner. Thus no one wishes to sell his or her property. However, with life being so unpredictable, home owners may face predicaments where they may have to sell their home. If any property owner faces this tragic situation, then he might consider all possible alternatives before ever considering selling. However, not all of these can work out, thus a sale is inevitable. Getting cash for your house in such circumstances seems like a big task. Those who are desperate to avoid foreclosure, or have other financial problems, eventually break down and start looking for companies that offer cash for houses.

A home owner can tackle his bad financial conditions through just a phone call. There is a host of reasons why you may wish to contact the company offering cash for houses. Whether you need to settle dues on credit cards or the instant equity that you need for a home purchase, you can look up these companies for assistance.

Those in need of funds can easily get their problem solved by selling their property to these companies. But this is not all; cash for houses is the best solution for all those who wish to avoid the inconvenience of the traditional procedure of selling houses. Moreover, the seller-friendly offers from such a company make it the only choice of home owner having any of these problems.

A cash for houses Company offers an exclusively customized service, which means that the deal is finalized only after coordinating sales terms with the customer. The skilled team of the company works with you to give a detailed analysis of your property in no time. Their services may seem like a ray of hope for home owners without any home equity. Besides, cash for houses companies can purchase your house despite the fact that it’s not in a very good condition.

Another big advantage is that you don’t have to worry about the renovations which you might be planning had you sold your house the conventional way. Buyers are very difficult to satisfy. He can reduce the offering amount considerably after finding any flaws in your property. A cash for houses company offers a quick sale in which you get the fair market price for your company. The speedy transaction makes the company a great option for people who need funds urgently. Imagine how convenient it is to sum up the deal and get cash in hand within a month. Even those who need instant relief for mortgage problems can have their worries erased once they contact the “cash for houses” company.

For those who would be wondering about how to connect with these real estate investors, you can get in touch with them through on-line forms. Just visit their websites and fill out their on-line forms. By answering their questionnaire that covers different aspects of your home, you will be able to reveal your situation. A representative from one of these companies will eventually pay you a visit to survey your home, and if satisfied, he will draft an all cash offer for your house.

Cash for houses services can pull you out of any financial disaster without any commission or fee. After getting instant cash from them you can get out of foreclosure, repair your bad credit, and easily move on with your life.…

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Choosing the Right Real Estate Agent in Today’s Buyer’s Market

Choosing the Right Real Estate Agent in Today’s Buyer’s Market

In a world and economy where a whopping 87% of potential buyers are shopping for homes on the internet, it is integral that your real estate agent has the know-how and innovation to utilize this increasingly-important avenue of sales. If your agent is ignoring the internet as a place to advertise your home or property, or implies that their services do not include internet listings, seek new representation.

Do Your Research

Putting your home up for sale requires the appropriate amount of research on your part. Do your own internet searches on homes in the same market as yours. What features do you, as a “prospective buyer,” appreciate in an online listing? Which listings look the most professional and seem the most trustworthy? While this initial research is very superficial, it will give you an idea of the quality of work a potential real estate agent is offering.

What Your Real Estate Agent Should Provide

Your agent should provide a comprehensive internet marketing plan for your home. They should be able to provide you with the number of websites your home will be featured on, as well as be fluent in the various sites you have researched in your own time. They should speak to tailoring each property listing based on the needs and audiences of each website. A top-notch agent discuss the use of professional photos, videos and interactive features on your listings, as well as detail how buyers will contact agents for more information.

What to Avoid

There are very few real estate agents who avoid the internet market altogether. However, a real estate agent who chooses to only list your home and property on their company website is not doing enough to access the 87% of home buyers who search other internet sites. Finding someone well-versed in internet listings will be a better use of your money and investment.…

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Great Real Estate Investing Tip and Strategies

Great Real Estate Investing Tip and Strategies

The recent fall in the global economy placed fears in the hearts of investors all over the world. The real estate industry was one of the worst hit industries in almost all countries. However, Canada’s economy is recovering and so is the housing market. If you are looking for an investment, here are some great investing tips to help you along.

If you are looking for a long time investment, the housing industry in Canada is worth taking into consideration. The best investing tips you could get is to invest in Canadian homes now. The economy is recovering like other global economies and prices are still low following the global economic crisis. Many agents are anxious to get rid of properties that they have been unable to sell for long periods. You are likely to get a great deal on properties in Canada if you are thinking of investing now.

Once you have decided on whether or not you are ready to invest in Canadian estates, it is time to consider how far you are willing to invest or take your investment. This is an important factor to consider amongst the other investing tips. Decide if you want to get into the business as a full-time business or only as a part-time venture that earns you money on the side. This will determine the amount of time and money you will invest in the onset.

If you are investing as a side business, you will be looking to cut costs in various ways. You can do this by using leveraging technology and simple systems to reduce the amount of time and money you require to find a good piece of property and to sell it. The systems allow the automation of the whole process and leave you with minimal work.

If you are seriously considering real estate in Canada as an investment, then you should take note of these great real estate investing tips mentioned above.…

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Understanding the Real Estate Foreclosures Market

Understanding the Real Estate Foreclosures Market

The real estate foreclosures market has seen many changes over the past several years with the rise and fall of the housing market. Whether you are looking at investing in real estate or purchase your first home at a lower rate, than it is vital you understand foreclosure trends locally and nationally.

Foreclosure trends impact the foreclosure market and the main housing market. Understanding nationwide statistics of new foreclosure filings, foreclosure sales and the average foreclosure sale price can help you determine just what kind of deals you can expect to make. If there are a lot of foreclosures on the market then banks and real estate companies may be more willing to drop certain fees and rates to make a deal. After all these properties aren’t doing anyone any good if they remain vacant, in fact empty properties decrease in value over time. Government foreclosures in particular are a good investment for the first time home buyer in a market where foreclosed homes are plentiful as you can avail yourself of specific loans and grants to make the mortgage payment easier to handle.

Understanding the real estate foreclosures market is vital to the real estate investor, especially if you are new to the market or looking for only limited investment. If you are looking for a property you want to fix up and resell, avoid areas where there are a lot of foreclosures. New investors may believe that an area where there are a lot of foreclosures would indicate a good selection. However, an area that has a lot of foreclosed properties can indicate that income is low in that location. This may make it difficult to find a buyer and you may be stuck with a property you don’t want.

Understanding foreclosure trends of the real estate foreclosures market can help new homebuyers determine the chances of finding a high quality foreclosure property. A large number of foreclosed homes, especially ones owned by the government, can also indicate a willingness of the lender to offer better loan terms to the borrower. So when looking for foreclosure listings, search for online databases that also supply foreclosure trends for a complete picture of the real estate foreclosure market.…

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Tips Before Buying Real Estate Property

Tips Before Buying Real Estate Property

Buying real estate property is one of the biggest decisions in anyone’s life. If you’re planning to buy a house today, you need to consider some information and strategies before scanning those classified ads or contacting a broker’s office.

First of all, you must know yourself – your plans for the next few years, your occupation, your lifestyle and other factors that may affect your choice of residence. You need to know all these things before you start house-hunting. Are you planning to get married in the next year or few years? Do you have a dog from the working breed that needs a yard to run around in? Do you have kids who have specific hobbies that they want to seriously pursue? You need to know what kind of an environment you need and want to decide where would be the best place for you.

If the area you’ve thought of buying a real estate property in is new to you, you need to research on it. Make sure also that it is a neighborhood that is safe and secure for yourself, your spouse, your kids and anyone else who will be living with you in your new home.

Together with the environment and location, at least a general idea of the size and type of your home is something you need to decide on. This will make things easier for you and your broker, so you both need not go through every house in the market.

Of course, your budget has to be set. You need to know how high you can go and stick with it. Sometimes, this also helps you in having a good bargaining attitude towards your broker, only because you are firm in your decision that the budget you set is final. You must also take into account in your budget the daily cost of living in that area and the required upkeep expenses of your new home. Your transportation expenses might include a few extra dollars for your gasoline per month. You might also have the wide front lawn that you’ve been dreaming of, but have you factored in its upkeep cost?

If you are looking at real estate properties in residential villages, they might require some village membership fees for the maintenance and security of the neighborhood. Property taxes are also often overlooked.

Lastly, when you’ve found your dream home, the one that fits your plans and your budget, make sure that everything you’ve agreed on and discussed with your broker is in writing. Remember to read everything in your contract, including all the fine print. Be sure that you are, indeed, getting yourself a good investment – something that is really worth your savings.…

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Leverage of Real Estate

Leverage of Real Estate

Leverage

Leverage or financial leverage is one of the most important aspects of building wealth through real estate investment. I will try to make my example as simple and understandable as possible.

If you have $100,000 dollars to invest and go out and buy a small home for $100,000 dollars cash. Let us assume the rental income is $800 per month x 12 months = An annual income of $9600. Assume again your property taxes are $900 per year, insurance $700 per year and allow $1,000 for property maintenance and up keep. Total expenses = $2,600. So after expenses your net income is $7,000. We are assuming the tenant will pay all utilities.

Your investment of $100,000 will give you a 7% annual return with out factoring in appreciation. This income will of course be taxable. If real estate were to go up in value at an annual rate of 5% you would make another $5,000 which would be taxed as a capital gain a the time of sale. (applicable at different rates in different countries.) In Canada in some cities just this year real estate values have gone up by 25% or more in the last 12 months. The average home price in Vancouver British Columbia is now in the $1,000,000 range.

Imagine your home (principle residence) making you $250,000 tax free in one year. I would be very tempted to cash out and move to the east coast of Canada where I could possibly buy the same home for $250,000 and retire with $750,000 in the bank. Now that’s a plan.

Now let’s say we take our $100,000 and buy 5 similar homes and put $20,000 down on each. We finance $400,000 and our mortgage payments total $2,000 per month or $24,000 per year. Our income at $7,000 per house is $35,000. After debt service we make $11,000 per year. (over 50% more) but here’s the real bonus. Again assuming 5% appreciation now on $500,000 worth of real estate = $25,000 per year.

That is a 25% return on your $100,000 investment for a total $25,000 + $11,000 = $36,000 = 36% per year. Now that is the power of leverage. Amazing. Yes there is more risk. You have debt. There is more hassle (5 tenants as compared to one.) Is it worth it? Only you can decide. Does it work? ABSOLUTELY. That’s how people become millionaires. Can anyone do it? Absolutely. In my career spanning 35 years I have applied it (I now own $3,000,000 worth of real estate) I have consulted with and helped many of my customers do it. If you have any questions feel free to contact me and thank you for reading my article.

Larry Matthews…