What Do You Need To Do To Sell Your Orange County House

What Do You Need To Do To Sell Your Orange County House
What if you live in Orange County and you want to sell your
Orange County house? Then here is what you need to do to
sell your home.

When you want to sell your home there are a couple of ways
that you can do it. You can sell your home yourself or you
can have a real estate agent do it for you.

Did you know that you can do both if you want to? There are
many people that prefer to do that because it will mean
that your home will sell faster.

The first thing you want to do is to decide whether you
will sell your Orange County house yourself, hire a real
estate agent or both. After that it is just a matter of
getting the information out there for people to see.

If you really want to sell your home then you will want to
go online and list it in as many places as you can. There
are all kinds of sites that are available that will list
your home. Some of them you will have to pay a fee to use
but others are free. You just have to take some time to do
some research.

The next thing you want to do is to put the word out in
your local area. You can do this by telling everyone you
know that you are selling your home. Let them know to pass
the word around. Word of mouth can be a powerful tool for
anything you want to sell. The more people that you tell
the faster you will sell your home.

Even if you decide not to use a real estate agent to sell
your Orange County house, it is always a good idea to talk
to one. They know more about selling homes, the current
market, any changes that have been made and so on. So take
some time to talk to someone and see what they can tell you.

When you want to sell your home there are a lot of
different ways that you can let people know it is for sale.
So if you really want to sell your home then this is very
important.

Take some time to learn more about how to sell your Orange
County house because it will help you when it comes time to
list it everywhere. You will be glad you did.

----------------------------------------------------
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Do You Want To Invest in Real Estate But Have No Cash or Bad Credit? No Problem! - Part 1 of 3

Do You Want To Invest in Real Estate But Have No Cash or Bad Credit? No Problem! - Part 1 of 3
You want to be a bona fide real estate investor. You covet
the money, the lifestyle and the freedom. A lack of working
capital is holding you back. Or maybe your credit
challenges are standing in the way of qualifying for
reasonable financing terms. Don't despair. It can be done.
As a matter of fact, a great number of real estate
investors almost never utilize their own cash or credit to
profit from their investments, at least not in the
beginning of their careers. In the following weeks, I will
be discussing three ways you can invest in real estate
without using your cash or credit. As you grow as a real
estate investor, you will continually discover creative
ways to invest in your deals. Once you have the experience,
finding the money will become secondary to finding the
deal. This is all part of the fun. Hard Money Lenders

Hard money lenders are a great way to fund your initial
investments. Granted, they are expensive; their rates will
make you cringe, their loan-to-value ratios are low, and
they usually slap on a prepayment penalty. On the other
hand, if you have a deal under contract with a conservative
loan-to-value ratio of 65-70% that you need to close in a
hurry and you don't have stellar credit history, then a
hard money lender may be perfect for you.

Before agreeing to anything in writing, be clear as to the
stipulations of the proposed financing. These are important
items to keep in mind:

1. Total cost of the loan

Ask the lender about their origination fees and processing
fees as well as title and escrow charges. Request a good
faith estimate. Hard money lenders are not regulated in the
way that traditional mortgage lenders are. Expect their
fees to be significantly higher, two to ten points in
origination alone. Remember, all fees are negotiable.

2. Negotiate the prepayment penalty

If you are flipping, you only need a loan for a few months
until resale. Request an interest guarantee in lieu of a
prepayment penalty. An interest guarantee differs from a
standard prepayment penalty in that the lender will collect
a certain amount of interest form the funds they lend to
you regardless of when the loan is paid off. A typical
prepayment penalty is for one to three years; therefore, if
you pay off the loan prior to the expiration of the
prepayment penalty, you will be obligated to pay
approximately the equivalent of six months worth of
interest on your loan as a penalty.

With an interest guarantee, every time you make a payment
on your loan, the interest portion will be considered as
payment towards your interest guarantee. This means that if
you take out a loan with an interest guarantee of six
months and you sell the property within four months, you
will only owe the hard money lender two months worth of
interest at resale. Interest guarantees are usually a
better deal.

It is common for the lender to request a six-month interest
guarantee, which is the standard amount of a prepayment
penalty. Just like everything else associated with real
estate investing, this is completely negotiable. Request
two or three months and see what happens. Do the math!
Make sure that interest guarantee makes financial sense.

3. Request no out-of-pocket investment

This is exactly what it says: you do not invest anything
out of pocket in order to close the loan. All you can do is
ask. This will probably make the lender somewhat
uncomfortable, although he or she may be inclined to forgo
a cash investment since the approval of the loan is largely
based on the After-Repair-Value of your property. The
majority of lenders want to ensure you have enough
resources to cover the cost of repairs, closing costs and
holding costs. They expect borrowers to pay for loan
charges at or before close of escrow.

4. Request money for repairs

It is possible to receive a draw for repairs. Most lenders
will require invoices from contractors and subcontractors
before the work is completed. Draws are usually disbursed
once the completed work is inspected.

5. Request deferred interest

Some lenders will consider deferring interest payments
until the total loan pay off. This is typically offered
only with short-term loans with maturity dates of less than
six months. For longer-term loans, the lender may still
defer interest during the rehab period. Again, asking for
what you want is a crucial part of the process.

6. Have a clearly defined exit strategy

Hard money loans are interim loans that stay in place for
up to three years. They are a temporary solution to an
investor's financial predicament. The lender will want to
know if you plan to keep the property for cash flow
purposes or if you plan to sell before the end of the loan
period. In either case, the lender will want to know how
you plan to execute your course of action. Your exit
strategy is very important because it informs the lender of
exactly how you anticipate repaying the loan and confirms
whether approving the loan will benefit everybody involved.

7. Shop around

When it comes to real estate, everything is negotiable. It
is essential to comparison shop. Don't be afraid to inform
your lender that you are looking for a great deal. This may
give you a stronger negotiating position. Sure, you will
run across a lender or two who will slam the door in your
face. Nevertheless, this is a numbers game. The more people
you connect with, the better your chances of finding a good
lender to work with on a regular basis. So, go out there
and find the best deal you can get. Note: Another benefit
to using a Hard-Money Lender is that you can use their
funds for short sales as well.

Hard-Money Lenders are just one way to invest without using
your own cash. Again, shopping around for a good lender
and establishing a good relationship with that lender are
key factors in your success as a real estate investor.
Using a Hard-Money Lender is a great way to close a deal,
yet there are still more options. Another option will be
discussed in Part 2 of this three part series.

----------------------------------------------------
Brenda Coté is a Real Estate Investor, Real Estate
and Mortgage Broker, Mentor, and Wealth Coach. At
Transforming Lives, Creating Wealth, Brenda employs a
"whole person" approach to support female Real Estate
Investors succeed in business and life. To download
Brenda's FREE audio workshop, "The Seven Elements of a
Wealth-Creation Mindset" please go to:
http://www.TransformingLivesCreatingWealth.com

Instant Approval Credit Cards: How They Work

Instant Approval Credit Cards: How They Work
Everything moves faster in today's world. Credit card
companies recognize that consumers expect fast results, and
they have responded accordingly. You can now apply for what
is known as the instant approval credit card. How does this
type of card work? And just how "instant" is it? Here's the
run-down on instant approval credit cards and how to decide
if one is right for you.

Where to Find Them

Applications for instant approval credit cards are not
likely to show up in your mailbox. You can, however, find
them online by going to a credit card website. They are
often listed in a section of their own. Some can be found
in other categories, such as low interest rate cards or
cards for those with poor credit.

What "Instant" Means

Most companies advertise that you will know whether or not
you've been approved for the card within 60 seconds. This
means that after you fill out an online application and
send it in, a response will be e-mailed to you in less than
a minute. The process is incredibly faster than sending in
an application through the mail.

Getting approved for a credit card does not mean that you
can begin using it right away. You will have to wait for
the actual piece of plastic to arrive in your mailbox. In
most cases, this takes between five and seven business
days. Once you have the card in your hands, you'll need to
call a number to authorize that you have received it. Then
you're free to swipe it as you wish.

How the Process Works

Just how do companies instantly know if you can handle a
credit card? In most situations, companies run a quick
check on your credit. They usually have access to your FICO
score. FICO stands for Fair Isaac & Company, the
corporation that develops credit scores for consumers. The
numbers range from 300 to 850. The higher your score is,
the more likely you are to get approved for a credit card.

When the credit card company receives your score and
approves the application, it then does a more thorough
check. It reviews your credit and makes a final decision
based on that. While the instant approval is not a 100%
guarantee, in most cases the answer you first receive is
the correct one.

Having your private information sent through the Internet
may seem scary. But there is hardly a need to worry about
fraud in the instant approval process. Credit card
companies use the latest data encryption available to make
sure that your information remains secure. If you are
unsure of a site, check for a padlock on the screen. This
indicates that they use the latest security technology.

At one time, instant approval credit cards mostly targeted
consumers with good or excellent credit. Today, however,
competition between credit card companies has increased
greatly. This has resulted in more options for you, the
consumer. Even if your credit is poor, you can find cards
that offer the instant approval feature.

Regardless of the card you choose, you'll want to read
through the fine print before you apply. Also review the
other benefits and rewards that are included. Once you've
chosen the one that's right for you, the application
process takes only a few minutes. You'll soon have another
credit card to add to your wallet.

----------------------------------------------------
To View Instant Approval Credit Cards click the following
link:
http://www.credit-card-surplus.com/instantapproval.php . Ed
Vegliante runs http://www.credit-card-surplus.com , a
directory helping consumers to compare and apply for credit
cards.

Essential Credit Score Information for Real Estate Investment

Essential Credit Score Information for Real Estate Investment
Your credit or "FICO" score is vital to your real estate
investment career. It's no secret that the higher your
credit score, the better the chances of your obtaining
loans and getting them at a lower interest rate. It keeps
money in your pocket!

Remember this essential fact: lenders are in the business
of loaning money and loaning it at the lowest risk possible
so they're going to look hard at your credit score before
pulling cash out of their own pockets. This information
tells you should understand how credit scores are
calculated and what you can do to raise your own credit
score if it's low. This article provides you with that
vital information Background on Credit Scores So, what
exactly is a credit score? Simply put, it's a formula used
by lenders and others to give them an objective method to
predict how likely it is that you will repay a new loan. A
credit score is the result of complicated formulas for
rating your credit worthiness.

You'll often hear a credit score referred to as a "FICO"
score. This term comes from two men named Fair and Isaac.
In 1955, they founded a company called Fair Isaac
Corporation. Over the years, the name got shortened to
"FICO." Fair, Isaac is a for-profit company, traded on the
New York Stock Exchange (NYSE: FI). Their exact formula for
calculating credit scores is proprietary; that is, it's
secret.

Each of the major American credit reporting agencies (CRAs)
has a relationship with Fair Isaac. The three major CRAs
are: Experian, Equifax, and TransUnion.

Now, you'd think that each CRA would have the same score
for each person, but they have different models for
determining your credit score so your score may vary from
one CRA to the other!

In any case, they're still referred to collectively as
"FICO" scores. Each model is based on experience with
millions of consumers. With each model, the higher your
score, the better your credit rating. Calculation of Credit
Scores A credit score depends on the credit scoring model
used by the CRAs. In general, FICO models look at these
items in your history: Past delinquencies Derogatory
payment behavior Current debt level Length of credit
history Types of credit Number of inquiries by lenders
and others into credit history.

Although the models vary, the general formula looks like
this:

35 percent on a borrower's payment history. 30 percent on
debt. 15 percent on how long the applicant has had credit.
10 percent on new credit Another 10 percent on types of
credit.

There is a range of FICO scores. Within that range, the
higher the score, the better your credit rating is. For
example, a perfect score is 850 (only 1% of the U.S.
population). Eleven percent (11%) of the population has a
score of 800. In the above two instances, the borrower
likely will get a lower interest rate and have the loan
closed within days.

The average person has a FICO score of 720. The interest
rate will be higher, and it'll take days or weeks to close
the loan.

If your FICO score is less than 600, then you're definitely
going to have trouble getting money from conventional
lenders. That's because lenders calculate you'll default on
that loan better than 50% of the time. Naturally, it
doesn't make good business sense to lend money in that
situation. Or, if they do loan the money, it will be at a
much high interest rate in hopes of covering the risk.
Lenders very carefully look at "red flags" to decide
whether or not to give loans to individuals with low credit
scores. Red flags include: missed payments, late payments,
unpaid debts, bankruptcies, etc. Common-sense Guidelines
for Raising Your Credit Score The first guideline is to pay
your bills on time—all the time. The second guideline
is to not open unneeded credit card accounts to increase
available credit. That raises red flags for lenders. The
third guideline is to budget to figure out where you're
currently at financially. The fourth guideline is to reduce
unnecessary expenditures so you can apply that saved money
to your debt and improve your credit score.

If you're not sure what your current financial situation
is, you can analyze it using the debt to income ratio
formula. It's a simple method of measuring your net
monthly income against your debt.

Here's an example: Assume your net monthly income is $2000,
and your monthly debt payments are $500. Now, divide $500
by $2000, and you've calculated your debt to income ratio:
500÷2000 =.25 (25%).

It's generally agreed that debt expenses should be 25% or
less of your income. A ratio of 10% or less is great.
Anything above 25% is a red flag for you and may be for
lenders. If it's 25% or more, you definitely need to reduce
or eliminate debt!

To calculate your current debt to income ratio, take the
following steps: Look at last month's bills and add up all
the fixed expense items (rent, mortgage, car payments,
child support, loan payments, etc.). Then, check your
credit card bills and add up the minimum payments owed on
each card. Figure out your monthly take-home pay (net
salary). Divide monthly fixed expenses by monthly income.

Key Point: A good credit score is essential for your real
estate investment career! If it's low, do everything you
can to raise it.

----------------------------------------------------
Jack Sternberg is a nationally recognized expert on real
estate investment who's been in the business for more than
30 years. Sternberg is the creator of the renowned "Buyers
First" Program. His deals have totaled over $750 million
and he's been to the closing table more than 1,500 times.
For more, visit http://www.askjacksternberg.com