Working with a Home Inspector In Henderson

The rule of real estate is to get your money’s worth.  When you are looking into finding a place, you will want to make sure that the rule immediately applies.  One way to make sure that you are getting more for your money is by finding the right inspector.  This will allow you to find a property that is worth the up keep. 

The job of an inspector is to find everything that might be a larger problem in the house before you move in.  This will begin by checking the electricity, water supply, plumbing, furnace and heat supplies, and the general build of the home.  They will take a part of their day in order to make sure that everything is built up to standard and that it won’t cause problems before you move in. 

If there is something that the inspector says is wrong with your home, you will have the ability to ask for repairs or money back for the home.  There are several who will save thousands of dollars by having an inspector look at what is in the home and how it needs to be changed.  Because of this, you will want to make sure that the right inspector is coming to your home. 

Most likely, your real estate agent will have a specific inspector that they like to work with.  However, you can find one on your own and have them inspect the home as contract work.  You want to make sure that they will do a thorough job and that they have your best interests in mind.  This will help you to walk into your home without any surprises and with potential replacements before you move in. 

Working with an inspector is an essential part to buying a home.  It will help to determine and define the quality of the home and can help you to get the best deal in the end.  Before you sign the final papers, make sure that the inspector you have worked with has looked through everything.  This will help you to begin making your house into a home. 

I’ve got a GREAT home inspector for you! Contact me today and I”l give you Paul’s information and you can ask all the questions you need.

Weighing in the Factors with Comparable Sales

Terms for investments are everywhere in real estate.  You may hear lenders, agents and brokers talking the real estate jargon.  If you are finding a way to be a part of the real estate world for any type of investment, you will want to become familiar with the different terms that are used in real estate.  The first one to define is comparable sales. 

Often times, comparable sales will be termed as comps.  These will be the basis of your real estate investment and are important to know.  If you are looking at a property, always ask what the comps are on the property.  Your real estate agent, or you, will then look up a variety of factors to compare your property with the others around it.  You can find these through various companies, the multiple listing service, (MLS), and even courthouses and newspapers. 

Some of the comps that are included are the history of the property, the sales from the past, the sales of the other homes, the demographics of the area, and the different trends that have affected the sales.  Anything that will affect the investment that you plan to make on the home is what you will need to look up when considering comps. 

Why is it important to look up the comps.  By doing this, you will know whether you are making the right investment or not.  Technically, the value of the home should go up.  At the same time, the value will need to be the same as the other homes.  If you don’t have a balance between the historical investments and the neighborhood investments, you could end up paying too much. 

When looking at cash flow, you should always begin with the comparable sales.  This will give you a good idea about what is happening with the real estate that you are interested in and whether it is worth your time and investment.  Finding the comps is the beginning to moving over the threshold and into your new home.

To find every property currently listed on the Las Vegas MLS, check out my site which gives you FREE access. HowToBuyABankHome.com

How To Get A FREE Loan Pre-Qualification

If you are like most, you know that it would be beneficial to just have money handed over your way.  You work hard at what you do and are financially stable.  You know that it is time for you to move into a new place and want to make sure that you have the best opportunities available for you.  The first investigation to make in order to step forward is through a loan pre-qualification. 

Loan pre-qualifications will determine if you have the financial ability to invest in real estate in the beginning.  By having the right pre-qualification, you can be guaranteed a specific amount of money and will have the ability to move into the home of your dreams. 

The first thing that is determined with loan pre-qualification is how much you make each year from your job.  By finding this, it will allow for lenders to know how much you will be able to put into a loan in relation to other expenses that you may have.  Things such as personal debt and car loans, as well as credit card expenses will be calculated in this figure to show the first step to finding the right loan. 

After these specific points have been added up, the time frame in which you will pay your loans will be factored in.  This will give the companies an idea of how much you can pay and how this will relate to the debt and finances that you have coming in and out of your pocket.  This will be defined by using formulas that will relate how much money you are making in relation to how much you can pay to balance out your loan.  Usually, pre-qualification formulas will divide things by factoring in ratios for standards of living. 

If you want to make sure that you have the right loan, then becoming pre-qualified is the first step that you will need to take.  This will enable you to move forward with what you want and need for your loan.  By knowing what to expect, you can prepare for the process of getting a loan and can move into the property that you want.

If you want a free prequalification, simply click on this link: Nikki Purple and tell her your future real estate agent sent you!

How to Pick your Lender for your First Home or Refinancing

Your lender is one person that can make or break you with finances towards your home.  Before you become involved with anyone that will involve your money, you need to make sure that they are going to offer you the best.  Once you know some basic concepts, you can begin to find a lender that will fit your needs. 

The first set of characteristics that you will want to look for with a lender is with the type of loans that they will offer and the policies that are set next to them.  The loan that is offered to you should fit your individual financial needs and give you the benefit of the financial world.  This doesn’t just include the loan types, it also includes the extra fees that are attached to loans and how these will differ with you.  You should also ask about things such as pre-payment penalties and rate locks that may be attached to your loan. 

You will also want to know how your lender will benefit you.  Sometimes, you can get discount points added to your loan, as well as lender guarantees.  These will help to lower the rate of your loan and will help you to gain credit.  You want to make sure that no matter what the loan, that you are not going to be penalized for anything and that you benefit from what you are getting. 

The main idea when finding a lender for your home or to refinance is to make sure that you will get exactly what you want from the loan.  This includes everything from the type of loan that you will get to the timing and type of funding that will be offered to you.  With any situation, go with your list of questions ready and be willing to listen to possibilities.  However, if you aren’t satisfied, you can find a lender that will listen to you better. 

Even if it is your first time buying a house or if you are trying to get a little extra money, you should always walk into a lenders office and know exactly what you are getting into.  In the long run, this will make a difference in your abilities to stay in a place and benefit from what is being offered.     

Here’s a link to Nikki Purple , whoIMHO is the BEST in the business, because she’s been trained juet like I was – “Old School”. When you call her, tell her your future realtor sent you!

Getting Over the Fear of Money

For those investing in real estate, you may find that there are several unknowns that have to be accounted for that are related to money.  This investment relates to both home owners as well as those involved in the real estate business.  There are several common fears that are related to money in real estate. 

One of the major problems that are part of real estate investing is taking risks.  If you are investing in a property to own a home, you will have to take out a loan.  If you are unable to pay taxes or the loan at any time, you will be at risk of loosing the home.  This can cause several levels of fear to occur, which may lead to the wrong loan being purchased for security.  Knowing how much risk you are willing to take with your loan will define what type of loan you should get. 

Another common fear factor with money is in relation to investing in a property during the wrong time.  If the economy is at a low or if the market price is not good, investing in a certain property may mean a loss.  This is a risk factor that many real estate companies will decide to take in order to sell a home.  When deciding if this is a good investment or not requires some risk and can cause fear if you are unsure about the economy and sale of the home. 

Money in the real estate business means taking risks.  Whether you are a home owner or are in the real estate business, there will be several times where you will have to determine logical decisions without knowing if there will be money to back up the decision.  It is important to acknowledge these fears so that certain boundaries can be set in relation to them.  This means that you know when you are going too far with a purchase or investment or when the fears are holding you back from making the right moves.  By knowing the financial details of a home purchase, you can move past your fears and make the right investments.

To learn more about what properties are on the market TODAY, log on to my website: HowToBuyABankHome

Can I Trust You?

I, like most realtors and lenders have been working to save homes and help homeowners in distress for the better part of two years.  And while we have had some success most of the work is just a circular wheel to no where.  In the mean time more homeowners are losing their homes and the banks/lenders are getting richer and richer.  All at the expense of us, the economy and the country.

I have attended every workshop, webinar, seminar that I can about this issue and there seems to be no answers.  The longer we are engaged in this mess the messier it gets.

So how do we solve it?   To really get our lives back on track you have to fix your mortgage.  Right now the only solution is to walk away.  Modifications, chapter 13 BK’s and anything else just prolongs the pain.

But what do you do?  Where do you move?  How do you recover from the credit ding?

Your bank/lender will sell your home to a completed stranger for 30 cents on the dollar but not to you.  How unfair?

Lenders in my mind are so evil that many won’t even allow you to stay in your own home at all costs. 

So how do you get your life on track?

Sell your home to a complete stranger, have a complete stranger rent your home.  Have a complete stranger put all the utilities in their name.  And after doing all that maybe you could find a place to live (wink, wink).  And maybe just maybe in 42 months after the smoke has cleared and America moves onto the next big crisis coming down the pike you could buy your old home back.  So far I haven’t seen that restriction anywhere. (the buy it back part)

It really is the only solution right now.  Short sale your home; take the credit hit, rent at half of your old mortgage payment.  Never move, and maybe buy back your old home in 42 months.  You will have a new loan amount 1/3 the previous amount. And get on with your life.  If your current on your mortgage miss the payments while you short sale, no credit difference.  Take the mortgage money get three more credit cards, secured or unsecured use them and rebuild your credit.  Two years from now you will have the same life with better payments and loan basis.

If you understand what I am talking about then contact me.  If you know someone that may fit into this scenario, you can contact me for them and I will meet with them.  If you are a realtor with a short sale listing and you do not have a buyer, call me.  If you know someone that just wants out of their house let me know.  I have an investor that will facilitate these deals all day long.  Every deal we do is a cash closing with a 30 day close time.  We can close faster than the banks can approve them.  Most of the time we will buy the house on the spot, pay cash and you will have a 30 day closing.

If you’re a homeowner and would like to speak with an EXPERIENCED real estate attorney about your options with your home and mortgage, I offer ALL homeowners a FREE consult with my attorney group.

Please contact me for any help you need. Thanks!

The Question That Almost Made Me Cry…

While I realize this may be “off topic” relative to real estate, it is such an important lesson I learned through the eyes of another.

I attended a seminar once when I was a CASA and watched a highly successful businessperson who was asked to come in and speak to a group of inner city teens about goal setting, real estate, and entrepreneurship… 

Unfortunately, the teens in this center were enrolled because they have dealt with major challenges throughout their lives…

He was asked one question in particular that really hit home for me… 

In fact, it almost made me cry. 

A young girl stood up and asked… 

“What do you do when everyone around you crushes your dreams and you feel like a failure?”

 …I could really feel her pain when she asked this…

 I could hardly wait to hear his response. 

He went on… 

“There is NO SUCH THING as failure until you give up, and accept it as a failure…” 

Did you know that most Millionaires went bankrupt AT LEAST 1 time before becoming a millionaire?… 

…Did those Millionaires fail when they went bankrupt? 

…Most of these Millionaires will tell you that if they never went bankrupt, they would have never learned the lessons they needed to become a millionaire… 

Remember… 

If at first you don’t succeed, it doesn’t mean you have failed. Think of it as a learning experience that has left you much more prepared to make it the next time around… 

If you don’t make it the second time around, then take what you learned the second time and go for it a third time…

 Eventually you will succeed… as long as you never give up… and you see failure for what it really is…

 A learning experience that has made you better prepared to succeed tomorrow.

 Wishing you love, happiness, health, & prosperity…

Home Owner Bailout

Short sales are the solution for solving today’s real estate problems. The banks were bailed out and now its your turn.

When you purchased your home, it was with the idea that they could be refinanced or sold as needed. Since home prices have fallen (more like, plummeted), refinancing or selling is, uh, impossible! Lenders are denying requests for modifications and will NEVER reduce principal balances. If you find yourself stuck in this nightmare, a “Short Sale” is THE solution and can be obtained through us. I went through a great deal of “new” education to become a Certified Short Sale Specialist so I can best serve my community.

In a “Short Sale” arranged by me and my team, there is no upfront cost to you. It will allow you to sell your home for less than you owe on it. I will negotiate for the bank to waive the portion of your mortgage that does not get paid off through escrow. We’ve been able to reduce the once lengthy processing time down to as short as two to six months. I can design a custom solution just for you that may include a sale and leaseback so you can stay in your home, don’t have to move and may receive cash back for relocation expenses.

In certain circumstances, I can also arrange for you to qualify for a new mortgage to purchase a new home before or after the short sale. The benefits for the homeowner also include avoiding foreclosure and deficiency judgements. A short sale may have little impact to your credit score when compared to a foreclosure or bankruptcy. In many instances, we may be able to arrange for a postponement of the foreclosure sale date allowing homeowners additional time to stay in their property without making payments.

With a properly managed Short Sale, your mortgages, property taxes, HOA dues and all costs of the sale will be paid by the lender. There are no fees to you – the bank pays for everything. Consider a short sale as the free solution to dispose of your upside down real estate. A short sale must be handled by an expert. Don’t trust your short sale to just anyone.

For a custom solution from an experienced real estate mortgage banker and real estate broker, call me today at 702.400.6515 or send an email to: Info@HowToBuyABankHome.com

The #1 Thing Home Owners HATE About Short Sales… Solved For You!

Without a doubt the #1 complaint I get about short sales from homeowners
who have tried on their own is… the “friggin’ banks.”

Tell me if this sounds familiar?

“The banks lost my file.”
“The banks said the BPO came in 150k above my offer.”
“The banks are taking forever and my buyer is about to walk.”
“The lender says the offer is too low and they are closing the file.”
“The banks lost my authorization.”
“The banks, the banks, the friggin’ banks!”

So if you never had to deal with a bank again in your life and you could still
have your short sale offers approved fast, quick and easy that would be great wouldn’t it?

You have one of three options to accomplish this:

#1 – Find a trained a negotiator to work your submission for you.
That’s a tough and DANGEROUS task. How can you be SURE they can perform?
I’ve solved this for you…

#2 – Do all the negotiating work yourself – WHICH STINKS.
I don’t recommend this one at all. It requires YOU to do ALL THE WORK
and takes a lot of time.  PLUS, if you are unlucky, your home will be FORECLOSED
on right under your nose while you are “negotiating”!

Do you know the secret to preventing or stopping that from happening to you?

#3 – Outsource all the negotiating to a team of experienced negotiators. 
My team of EXPERIENCED Real Estate negotiators have YEARS of experience
and the legal means to stall or prevent a foreclosure.

I’ll show you how simplify and DE-STRESS your life by letting us do all the negotiations for you.
By the way we’ll also do the BPO, list, sell the house, and get it closed for you.

If you’d like to learn the most cutting edge “Short Sale Business Systems,” in the business today,
you MUST call me and ask for help.

You’ll be glad you did.

Now, call me today.

Louie Frias
702.400.6515

MERIT Realty Reports GMAC Has Nearly 100 Foreclosed Properties In Las Vegas & Henderson

A search of the Greater Las Vegas Multiple Listing Service reveals super lender GMAC has listed nearly 100 properties with local real estate agents in its effort to liquidate it’s bank owned inventory. 

This number does not include short sale or re-sale properties but does include single family residences, townhomes and condominiums; some are in good condition while others are just plain ugly and need cosmetic and/or some degree of rehab. 

Listed prices are intimidating to many home buyers but rarely intimidate the true real estate investor. To a professional investor and his real estate agent, the list price is just a number. The method of creating a “deal” in any market is the fearless ability to write and present aggressive offers to sellers like GMAC of distressed properties; and not merely one at a time. 

The investment game is like any other business; a number of offers are needed to create the desired result – success in acquiring a home to live in or one to add to a portfolio. 

A highly effective tool used by MERIT Realty agents in selling GMAC properties is the automated client/property notification system. It allows a client to submit his criteria for acquisition which is then entered into the MLS system. Once a property match occurs, the client and agent are automatically notified. Many times, this is the catalyst for the investor that allows him to strike before anyone else sees the property. 

If you are a home buyer or investor and are looking for an edge in buying a GMAC short sale or foreclosure in Las Vegas or Henderson, then you need to request access to this advanced property notification system. 

Best part? It’s FREE. 

Access it 24 hours a day, 7 days a week at: HowToBuyABankHome.com