The home buying process is complex. Learn about it from my perspective in these detailed videos.
I cannot emphasize enough how critical it is to get pre-approved BEFORE searching for properties for three main reasons:
1. if you don’t know what you can afford it makes it hard to know what to look for
2. let’s face it, if you are looking at $400,000 properties and find out you can only afford $300,000 those $300,000 properties are going to have a hard time measuring up to the $400,000 properties
3. if you find a property you want, having your pre-approval ready means you can write a contract to purchase immediately. Some properties can get snatched up quickly and it’s possible to lose your opportunity to purchase if you’re not ready.
Let’s get to the fun stuff — figure out what you need and what you want? You need to think about all the things that are important to you in a property — things like:
- When do you need to buy?
- How ready are you to buy?
- How much, based on your pre-approval, can you afford?
- Do you need to be by public transportation or a certain road or expressway? What’s the maximum allowable distance from the transportation?
- Do you want to be in a certain neighborhood? Before you answer that, ask around or drive around — you may find there are some unexplored territories you will find equally desirable. You should express location information in specific terms meaning you like to live in a specific housing development. Or you want to live within 1 mile of your job or favorite restaurant or whatever. Or you want to live for example, between North Ave on the south, Fullerton on the north, the lake to the east and Damen to the west.
- Do you need to have a yard? Or a basement? Or a rooftop deck? Or a balcony? Or a gym? Or a pool? You get the idea.
- What are your parking requirements?
- Do you want or need to be near a specific school or schools?
- Do you have pets? Some buildings have pet or size limits you may need to be aware of. Or you may just need a yard for your dog. Or your cat might need a balcony.
- Do you have certain requirements regarding numbers of bedrooms/bathrooms?
The goal is to generate a list of things you NEED to have in a property and an optional list of things you WANT to have. This is what you’re going to use to start your search for properties.
Visit my website for more details at www.AskForSam.com
Duration : 0:2:20
Recorded on January 7, 2010 using a Flip Video camcorder.
Bulk Reo Investing is one the most powerful real estate strategies to date, creating massive profits for anyone who has closed a deal. Now anyone can aquire the resources to flip Bulk REO’s by
Free expert real estate tips in how to invest in real estate property. Purchasing real estate with no money down using real estate sales tips. Use this great opportunity to expand your real estate investing profits.
Helping solve America’s housing and lending crises is what Mark Sanders endeavors to accomplish. As Founder and CEO of America’s Home Program, Inc., Sanders envisions creating a nationwide movement to assist people with turning the “American Dream” of home ownership into a reality.
Chuck Sierk from CNSI Enterprises reviews Kenny Rushing’s Bulk REO training. Absolutely the best real life training from a real investor, doing real deals in today’s market. Check out Kenny Rushing and Rush Capital Fund today for your bulk REO and NPN products and training! Check out CNSI Enterprises for “Real Deals Made Easy”!
http://www.BulkReoPropertyInvesting.com
http://www.smallbulkreopackages.com What is the state of the nation in regards to bulk bank reo property tapes. Don’t be fooled by jokers and brokers. We call banks everyday to speak to asset sales.
Jon Winick, President & CEO, Clark Street Capital, recently spoke at Coleman’s “Best Practices in Coping with Distressed CRE Properties” Webinar on July 14, 2010.