Mortgage Pre-Approval Very Important Before Investing in Real Estate | Real Estate Investing

Mortgage Pre-Approval Very Important Before Investing in Real Estate
Real Estate Investing Weekly Wisdom #288 - Need a good laugh ...
Have Questions About Real Estate Investing? Find Answers Here ...
Houston's Real Estate Market is Attracting More Cash Investors ...

Mortgage Pre-Approval Very Important Before Investing in Real Estate

Posted: 12 May 2014 06:41 AM PDT

Mortgage Pre-Approval Very Important Before Investing in Real Estate

Posted by Chris Clothier on Mon, May 12, 2014

Getting Pre-Approved Before Investing

As many of you know, if you want to use traditional financing when purchasing a property from any of the Memphis Invest companies, a pre-approval with one of a dozen different lenders is required. Why is that a requirement? As you can see with the infographic below, a pre-approval letter not only gives you a ton of credibility, but it also gives you peace of mind.

When you are pre-approved, a lender has reviewed your credit history, income figures, debt and income ratios as well as heard from you about your plans for investing. They will be able to direct you to how many properties you can purchase for your portfolio as well as how quickly you can purchase them. The lender provides you with a basic and secure (provided you have been upfront and direct with your plans and current information) environment to build an investment portfolio by pre-approving you and communicating what you can and cannot do.

This is a really big deal for our company. The biggest point in having a client be pre-approved before moving forward is so that the clients expereince with our company is consistent. We want to cover as many of the possible hurdles that could come up for an investor and make the closing process as smooth and quick as possible. Being pre-approved on the front end just makes an investors' experience with investing in real estate through a Memphis Invest company that much easier.

Interested in learning about the 11 Mistakes To Avoid In Real Estate?
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Real Estate Investing Weekly Wisdom #288 - Need a good laugh ...

Posted: 11 May 2014 03:31 PM PDT

Need a good laugh? Who doesn't! This week Dean shares a good one (if you were at the EDGE, you're going to love seeing this again!) By all means – watch and enjoy! Exercise those grin muscles! BUT – there's a deeper lesson here too. (You know, Dean never misses a chance to push us further.) After watching, you're going to appreciate your life anew. We have it pretty great. Push that sense of entitlement out of your mind and you'll find yourself smiling a lot more often.

Have Questions About Real Estate Investing? Find Answers Here ...

Posted: 13 May 2014 12:00 PM PDT

TIP! You never want to purchase a property that has not been professionally inspected. A seller may offer to have the inspection done, but he may use someone who is biased.

There is little debate about investing in real estate creating many millionaires in recent decades. However, some folks only want to dabble. This article is intended for people who want some advice getting started in real estate investing.

TIP! Find other people involved in real estate investing and learn everything you can from them. Real estate investing is very popular nowadays.

You need to become educated in real estate prior to investing. There is a ton of knowledge to gain and many methods that can make or break you. You can read books, watch DVD programs, sign up for workshops and take classes to learn all about real estate.

TIP! Interact with others who invest in real estate. You need to make personal connections with anyone you might learn from.

Consider an LLC before you begin your investment. This will allow you to be protected along with any investment you may make. There are also great tax benefits concerning the business transactions you make.

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TIP! Make sure that you get as educated as you can about investing in real estate before you put too much cash into a potential deal. You are playing with large amounts of money, and mistakes can cause you a huge setback.

Select the type of real estate you wish to handle right at the outset. You may like flipping real estate. Or, rehab projects may be more up your alley. You will need to learn the basic skills regardless of what you choose.

TIP! Take the entire neighborhood into consideration before investing. An attractive and desirable neighborhood usually performs well under most market conditions, while depressed areas can be a real challenge.

When getting into real estate, reputation is very important. This is why you must never lie to clients and always keep your promises. Your reputation is what will make you a success or will quickly put you out of business.

TIP! If you buy a home and plan to rent it, make sure you are choosy about your tenants. You need someone who can pay a security deposit and advance rent.

Make sure that you dedicate a good amount of time to the business and learning about the business too. This will reduce the complications that you have when making deals. To become a success, you may need to cut out golf games or long vacations.

TIP! Know the opportunity cost of your time. You may enjoy rehabilitating properties, however is the amount of labor required worth your time? Maybe this isn't the right property, perhaps there is something better out there? Whenever it is possible to delegate tasks, do not hesitate.

Find and talk to other real estate investors. Find out what tips and tricks they have learned along the way. Having some as friends can be quite handy. You can find others with the same interests on the Internet. Get on some forums and see if you can get into a meetup.

TIP! Avoid digging around your property if you are trying to improve the home for sale. Call a professional to come over just to make sure there are no electrical lines or anything else that is important lying around the property.

You want to try and think about what properties are going to see a value increase when you are making investment decisions. A lot by water or right in a business district, for example, will most likely mean more to you in the future. Consider it a long-term investment, and look to the future.

TIP! For certain it can prove beneficial diversifying your real estate portfolio by investing in different areas and even countries, but you also want to capitalize on local real estate that you're familiar with as well. The wider you are willing to cast your net, the better your catch will be.

Make yourself as knowledgeable as possible about investing before you lay down too much money. Not being careful can lead to substantial losses. Taking time to learn all you can about it can help you stay protected.

TIP! You must evaluate any neighborhood where you plan to buy investment properties. Location is crucial in the real estate market.

Before buying property, research the neighborhood. An attractive and desirable neighborhood usually performs well under most market conditions, while depressed areas can be a real challenge. Location is always a key factor when it comes to your decisions regarding real estate investments.

TIP! Get along with others. Rather than viewing other real estate investors as competition, try to work together.

Consider how much you can rent a property for when you're determining its value. This will give you a lot of extra money. Then, you can resell it later fort a huge gross profit.

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TIP! Try to invest in several properties in a similar area. By doing so, you'll control gas costs and save a lot of time when having to visit the properties.

If you wish to make major income using real estate investments, don't delay anymore. After reading the tips contained here, you are ready to start looking for your first deal. Keep this info by your side as you venture out into the world of real estate investing.

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Houston's Real Estate Market is Attracting More Cash Investors ...

Posted: 12 May 2014 02:41 PM PDT

Cinco Ranch House for Sale-Christi Borden

Home for sale in Cinco Ranch (Realtor Christi Borden)

(HOUSTON) — Houston's hot real estate market is attracting cash buyers who have no intention of living in the houses they buy.

Houston Realtors find cash buyers lining up to buy — sometimes before the sign goes in the yard.

The Latest News Headlines, Traffic and Weather:

Realtor Christi Borden with Better Homes and Garden Gary Greene sells in the Cinco Ranch-South Katy area. She says there are more cash buyers this year than last year who are investing in Fort Bend County houses.

Borden hears from fellow Realtors in suburbs like The Woodlands, Sugar Land, southeast Montgomery County and Pearland that cash buyers are common in their neighborhoods, too. The same thing is being seen in inner-city areas like Rice Military, where there are few homes for sale compared to past years' inventory.

The market has also attracted investor buyers from countries like China and Canada. They have fat bank accounts and are trumping first-time homebuyers looking to buy into neighborhoods where schools are good and the houses are fairly new.

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Wednesday, 14 May 2014