Wednesday, January 10, 2018

Be Prepared to Close the Deal

Be Prepared to Close the Deal Ensure all the bases are covered prior to approaching a lender By Stephen A. Sobin, president and founder, Select Commercial Funding LLC | bio www.fullcirclehousing.com Bases sobin 7-17 Many new commercial mortgage brokers, especially residential brokers who do not regularly place commercial loans, do not adequately prepare themselves and their clients before contacting a commercial mortgage lender and submitting a commercial mortgage loan application. Click below for Real Estate funding at http://application.fullcirclehousing.com This leads to a high level of rejection for the broker. It also results in a lot of wasted time by the lender’s underwriting staff. Following is an overview of the major steps a broker should take before submitting their client’s application to a lender, as well as a look at some key factors to be aware of during the loan-review process. As a mortgage broker, if you can stay on top of these variables, the odds of successfully shepherding a deal through to completion will improve tremendously. Financial check If a borrower has open credit problems, such as currently delinquent mortgages, judgments or tax liens, almost every conventional lender will issue an immediate rejection. Any and all such issues should be resolved satisfactorily before application. Brokers should have their borrowers prepare a clear and well-written explanation of all such issues. Lenders may consider these applications if the issues are resolved and in the past. If any issues are recurring, or likely to reoccur, the only likely option for the borrower would be a higher interest-rate loan through a private or hard-money lender. Conventional commercial lenders do not want to get involved with such a borrower unless all such issues are in the rearview mirror. Lenders today demand that a borrower has sufficient net worth and cash liquidity to qualify for a loan. Lenders do not want a borrower to invest all available cash into a property and leave nothing in reserve, in case of emergency, for unexpected property repairs or other expenses. Without adequate remaining cash reserves, the borrower could be stuck. Lenders will expect to see about 5 percent left in reserves after closing to cover potential emergencies. In addition, lenders will want to see sufficient total net worth before making a loan. Many lenders require some degree of a personal guarantee from the borrower. If the borrower does not have sufficient net worth, they will not able to cover the necessary guarantee. Most lenders will expect to see that a borrower has net worth at least equal to the new loan amount. “ A lender is not going to waste time on your application if the loan request does not stand out and demand attention.” Management experience One of the first items lenders look for is a borrower’s experience owning or managing similar properties in the past. Let’s say a borrower wants to buy a motel or gas station but has never managed a similar property in the past. Most lenders will not entertain such a request unless the borrower is willing to hire a professional property manager or key employee who has a demonstrated ability to manage a similar property. Lenders are not willing to take the chance of a new borrower learning on the job. A borrower will need to furnish a resume that details past experience. Additionally, if the borrower has failed in the past, as demonstrated by a foreclosure or short sale, a lender will expect to receive a well-written letter of explanation before giving the borrower another chance. Don’t go in blind and hope that a lender won’t uncover past problems. The lender will, and to ignore that reality on the front end will only waste everyone’s time and money. Meet the guidelines Before you apply with a lender, make sure to understand and meet the lender’s guidelines. Lenders typically lend up to 75 to 80 percent of the purchase price of the property. The days of lenders making loans equal to 100 percent or even 90 percent of a property’s value are long gone. Lenders have guidelines concerning loan amounts, the locations where they lend and the types of loans offered. Make sure to understand a lender’s guidelines before submitting a loan application. Make sure the lender offers the type of loan you are seeking. Lenders do not want to waste time looking at loan applications that do not meet their lending objectives. No lender wants to waste hours of time wading through reams of useless paperwork to ascertain whether or not to approve a loan. If a lender does not understand your request within a couple minutes, the loan will be passed over in favor of someone else’s application. The typical lender receives far more loan applications than they can actually close. This means a lender is not going to waste time on your application if the loan request does not stand out and demand attention. Your application needs to state all of the important information clearly and concisely. Many first-time or residential brokers do not understand the importance of a good loan package. Many worthwhile loans have been rejected because the broker did not present the request properly. A well-prepared request will contain the following: A cover letter or executive summary explaining the transaction and the loan request; A personal financial statement showing assets, liabilities, net worth and real estate owned; A financial statement for the property that includes a summary of operating income and expenses; and A current rent roll, as well as a financial pro forma and digital photos of the property. Be available Lenders will invariably have questions after they review the initial submission. Make sure the lender can reach you easily. If a lender gets no answer, a child answering a home phone, or a mailbox that is full, they will likely move on to the next deal. Most importantly, do not make up answers you think the lender wants to hear. Answer truthfully. If you do not know the answer, speak to the borrower and find out. Don’t assume anything. Wrong answers up front usually derail the loan process later after a lot of work has been done. As a broker, your job is to manage the borrower’s expectations and keep them informed. If the borrower requests terms that don’t meet the lender’s guidelines, say so up front. Don’t wait until a commitment letter is issued to tell your client that the terms a lender offered differ from the client’s original request. • • • Borrowers who use the services of a commercial mortgage broker expect the broker to act professionally, understand the loan process and to know which lenders to approach. An experienced broker will understand how to prepare a loan package that covers all of the necessary information in a concise and well-written package. That broker will understand each lender’s guidelines and requirements, and choose only those lenders that are likely to approve the loan on terms acceptable to the borrower. The mortage broker will be expected to demonstrate a skill set that the borrower lacks, or else why would the borrower agree to a broker fee in the first place? Most importantly, a good broker will guide the transaction from start to finish, ensuring that both a lender’s and borrower’s needs are met in an expeditious manner.

Tuesday, January 9, 2018

8 Steps to Take Before Listing Your Investment Property for Sale

8 Steps to Take Before Listing Your Investment Property for Sale by Mindy Jensen | BiggerPockets.com Presenting a strong, solid property is the best way to a fast, lucrative sale. But before you plant a sign in the yard, you’ve got some work to do. From assessing the state of the property and cleaning it up and getting it ready to list to speaking to your tenants so they aren’t blindsided by the sale and gathering up all the pertinent information about the property and any tenants, the work you do before the sale directly impacts how much money you make at closing. Ready? Let’s get started! Click below if you need financing at http://application.fullcirclehousing.com 8 Steps to Take Before Listing Your Investment Property for Sale 1. Assess the true state of your property. A visual inspection isn’t going to be enough. A full inspection—performed by a licensed home inspector—will give you a more accurate look at the state of the property. Your buyer is going to have an inspection and will ask you to repair or give a repair credit for anything major. (In a slower market, they’ll ask for most minor things, too.) Don’t give them ammunition for price reduction or closing concession requests. Know what’s going on in your property ahead of time so you can make the repairs you’ll be asked to make anyway. If your home inspection report turns up little or nothing, you can present it to potential buyers as a “pre-inspected home,” further providing proof that the property is a solid investment. 2. Make necessary repairs. Once you have an inspection report, you can see what the buyers will see when they receive their inspection report. Addressing the big issues before the buyers even see the home can help bring in a higher selling price because the property presents itself as solid, so buyers aren’t asking for larger-than-necessary repair concessions—or worse, canceling the contract because they have no confidence in the property! You can also choose not to make repairs and instead note the issue and report that these items will be sold as-is. This brings a lower upfront offer price, but you have less unknowns surrounding the inspection. airbnb-tips 3. Clean, clean, clean. The outside of the property needs to look great. So does the inside of the property, but if you’ve got tenants, you’ll need to coordinate with—and probably incentivize—them to clean it and keep it clean. A clean property sells faster (and for more money) than one that is less-than-tidy. Now, this may seem like a no-brainer bit of advice, but I am continually astonished by the utterly disgusting manner in which people live. You will be leaps and bounds ahead of the pack if you just have a clean home. If you’re selling a property you have recently rehabbed, one good, deep cleaning followed by periodic maintenance through closing will suffice. Contract with a cleaning service to come in once a week to freshen up the property. If no one is living there, the cost should be minimal. You can even contract with them to clean the home after it’s sold and the new owners have moved in. An added incentive to the buyers and a bonus to the cleaning company. It’s always a great idea to be on good terms with a cleaning company! 4. Coordinate with your tenants. If you’re selling a rental, you need to have your tenants on the same page. If you have a contentious relationship with your tenants, this is going to be just one more challenge, and you may find that waiting until their lease has expired and they’ve moved out is a better time to sell. If you have a good relationship with your tenants, sit down with them and tell them you are selling the property. Ask if they’d like to buy it. (This doesn’t happen frequently but it’s worth asking them first.) Ask them what times would work best for their schedule to show the property to potential buyers. Also, ask what times would NOT work for their schedule, and share these with your agent – and ask them to include this in the Agent Remarks, a private section in most MLS systems. Consider having the tenants themselves coordinate showings with the showing company. This reduces your hassle by not having to make multiple phone calls to confirm with the tenants. However, be alert and ask the showing company to report declined showings. One showing that doesn’t fit into the tenants’ schedule isn’t a big deal, but if they’re declining most showings, you could be losing sales and not even know it. 5. Find a great agent. Residential agents can list any type of residential property—but that doesn’t mean that all agents are good at selling residential investment property. If you don’t already have a great investor-minded agent, start looking for one right now. Go to local investor meet ups and ask fellow investors who they recommend, but find someone who understands your needs—and the needs of your tenants. airbnb-conviction 6. Have excellent pictures taken. Again, if you’re selling a rental, you’ll need to coordinate with your tenants to have pictures taken of the property. Offer to hire a cleaning crew to come in and clean their home for them, so your pictures present the home in the best light. Make sure the photographer takes pictures without fancy lenses or weird angles, so you convey the true home. 7. Gather up your documents. Go through your records and gather up anything pertinent to the property, from repair receipts and warranties to tenant screening information, rent records, and security deposits. Ask your tenant to fill out an estoppel certificate—a testament to how much they pay in rent, when it’s due, and how much security deposit they have given you. If you have move-in documentation, provide a copy to both the tenant (as a reminder of the state of the home when they moved in) and the new landlord. 8. Remember why you’re selling. You’re selling your property for any number of reasons: to cash in equity, move up in property size, or even to get out of the game altogether. Advanced preparation can make the entire sales process go smoother and be finalized faster. Follow these tips for a great selling experience.

Sunday, January 7, 2018

Hard Facts about Hard Money

By Houtan Hormozian www.fullcirclehousing.com What is hard money? Mortgage originators often get this question from prospective clients when discussing potential financing options for the real-estate purchase. In recent years, the term "hard money" has changed in meaning somewhat. Prior to the subprime mortgage crisis, hard money meant just that: cold, hard cash. Essentially, it was money that belonged to a private investor that was loaned to an individual using real property as security for the loan. As the years passed, so has the negativity surrounding the term. Hard money is again considered a useful tool to be leveraged when attempting to secure financing for investment and other types of properties. Hard money loans are often offered to borrowers who are enduring circumstances that make conventional loans difficult or impossible to use. Often, hard money is the best option for borrowers who are in a time crunch, because the turnaround time from application to funding is much quicker for hard money loans than traditional loans. As with all things, however, nothing comes for free. Hard money lenders are willing to extend financing to borrowers who do not qualify for conventional loans, which makes their investment inherently riskier. To account for this risk, hard money lenders charge interest rates that are often much higher than those of conventional loans. An originator's clients will need to understand this up front. In addition, hard money lenders are more interested in the value of the property than the credit profile of the borrower, which places much more scrutiny on the property. Hard money lenders often are much more conservative when placing a value on a subject property than a conventional lender. Another factor that originators must consider before suggesting hard money loans to their borrowers is the repayment time frame. Where conventional loans have terms of 15 years to 30 years, generally, the loan terms on hard money loans usually last no more than a few years Click on link below if you need a loan... http://application.fullcirclehousing.com

Friday, January 5, 2018

Mortgage Application: How to Apply For a Mortgage

Mortgage Application: How to Apply For a Mortgage By: Lending Tree CHONCE June 23rd, 2017 mortgage application If you feel you’re ready for home ownership and will need a loan, you’ll want to start looking into applying for a mortgage. A mortgage application requires several steps and there are different routes you can take, depending on which type of mortgage you wish to obtain. However, while many of the qualifications and requirements you need are similar, they are subject to change each year. In this article, we’ll explain how to apply for a mortgage from start to finish, along with what down payment you need to consider and how to get approved. Understanding Today’s Mortgage Market It’s been about 8 years since the ’08-’09 recession and housing market crash. While the economy is slowly continuing to rebuild, it is no longer as easy to obtain a mortgage as it was during pre-recession years. Over the past year, mortgage rates have been historically low, motivating many Americans to pursue their dream of home ownership, but the mortgage crisis of ’08 has certainly left its mark and caused mortgage underwriting to be more stringent. This is not necessarily a bad thing since all applicants should be fully prepared and stable enough to take on a mortgage. However, knowing how to navigate the mortgage application process will make it less stressful for home buyers to secure their mortgage. Getting Approved For a Mortgage When applying for a mortgage, there are a few steps you want to take to get prepared and ensure your application is approved. Step 1: Preparing Your Finances Lenders want to see that you’re financially prepared to obtain a mortgage and pay it back over time. They’ll want to look at all sources of income, your job history, self-employment income, and your credit history. If you’re self-employed, they’ll want to see copies of your last two tax returns to show consistent income. They require this to make sure you have an acceptable debt-to-income ratio. A debt-to-income ratio is basically all your monthly payments divided by your gross monthly income. This number helps lenders measure the ability you have to pay off your existing debt along with your mortgage. Generally, lenders like to see a debt-to-income ratio lower than 43%. When it comes to your credit, lenders will like to see a solid credit history and often require a minimum credit score, depending on the type of mortgage. For example, you need at least a 620 credit score for some mortgages and at least a 580 credit score for an FHA mortgage. If you are applying for a mortgage with a spouse who will be your co-borrower, their credit will also need to be run. Your score will also help determine what type of interest rate you get, making it essential to maintain a good credit score. Step 2: Determining Your Mortgage Budget The next step involves determining how much house you can afford. Your income and current debt amount will help lenders decide how much to pre-approve you for. No matter what amount you get approved to borrow, keep in mind that a good rule of thumb is to keep your total monthly housing expenses at or below 35% of your gross (pre-tax) income. For example, if you earn $70,000/year or 6,250 per month, your maximum housing costs should never exceed $2,187.50 per month. Keep in mind that other costs may be tied into your house payment like property taxes, private mortgage insurance (PMI), and homeowner’s association fees. It’s best to go through your existing budget and determine how much you can comfortably spend on your mortgage each month. You can also utilize our home affordability calculator to help you determine how much home you can afford. Step 3: Figure Out How Much You Need For a Down Payment Finally, you’ll want to determine how much your down payment will be. Your down payment requirements can vary, depending on what type of mortgage you get. Below are down payment minimums for three popular mortgage types: Conventional – around 5% of the home’s purchase price VA – as little as 0% of the home’s purchase price FHA – 3.5% of the home’s purchase price While it is clear that you can purchase a home with little to no money down, if you put less than 20% down you will have to pay private mortgage insurance (PMI), which will add to your monthly mortgage insurance. Depending on the type of mortgage you get, you may be able to get rid of PMI after a while but it still raises the cost of your housing expenses as long as you pay it. PMI varies depending on the size of the down payment and the loan. It generally ranges from .3 percent to 1.15 percent of the original loan amount per year. Finding a Mortgage Lender When it comes to finding the right lender, you have many options to choose from. It’s important to shop around and compare different loan options. You can do this in a secure and easy manner online without even having to have your credit ran. Determine what you’re looking for in a mortgage lender, along with if they specialize in the particular type of mortgage you want. Once you have all your information gathered, it’s not hard to work through multiple deals and bargains with lenders. Also, be sure to keep in mind that loans are normally sold after the first payment of the loan, so don’t worry about the lender’s brand as much as you should worry about the cost associated with the loan. LendingTree has a mortgage product that allows you to compare offers from 5 different lenders all in one place and you can try it out and explore your options here. The Process For Actually Applying For a Mortgage Once you’ve found your ideal mortgage lender, you can start the mortgage application process. Normally, it begins with a pre-qualification once you determine the type of loan you’d like to qualify for. This usually doesn’t take much time at all. Generally, the lender will run your credit score and credit history to determine how much money you can borrow for your mortgage. Once you get approved, you can start house shopping. Once you’ve found a home you like and have it inspected, you can make an offer. The next step is the mortgage application process. If you’re filling out an application for a government-sponsored, first-time home buyer’s program, have your lender explain the requirements beforehand. In most cases, for all types of mortgages, you’ll need to submit information and documents like your driver’s license, employer information, copy of your social security card(s), pay stubs, bank statements, tax returns, your profit and loss statements (if you own a business), and specific information about the property. Once you’ve completed the loan application, your lender will verify all the information you provide and ask you for any additional supporting documents. Shortly after you apply for your loan, expect to receive a loan estimate (estimate of your closing costs) and a commitment letter (specific conditions of the loan) from your lender. At this time, you should avoid any major changes to your financial situation. Do not finance a new car or apply for any credit cards or other loans because that could derail your mortgage approval. Then, the lender should get everything organized and processed for underwriting. The mortgage underwriter is the key decision maker and they carefully evaluate all the documents prepared by the loan processor for a final verification. Once the underwriter approves your loan process, you’ll enter the closing process. You’ll review all the terms of the loan, pay closing costs, and do a final walk through of the property. During your closing meeting, you’ll receive a lot of documents that you need to carefully review and sign. Once everything is signed, you’ll have your loan. Click on link below for more Real Estate related topics... www.fullcirclehousing.com Overall, the entire process can take a few weeks on average.

Thursday, January 4, 2018

9 Ways To Get More Referrals to Your Mortgage Business

One of your primary jobs as a mortgage professional is to provide an ideal suite of mortgage options most suited for your client. At the same time, the position also requires a high level of selling and marketing ability. That means sales calls, promotions and getting a solid stream of referrals. Without consistent referrals from multiple sources, it can be hard to become a Top Producer. Here are nine ways to boost your mortgage referral business. This might be a bit too obvious as real estate agents are involved in the buying and selling homes. But how do you know which agents to contact? Where should you focus your marketing efforts, individually or to the entire office? In most every office there are “whales.” Those are the agents with support staff and juggling multiple listings at any one time. They’re kind of hard to get in front of and most likely they’re loyal to an experienced lender already. Instead, search out the full time agent that has a few listings, say maybe three or four listings. Not 20 or 30. These agents know how to get the business and will be more open to spending time with you. And speaking of real estate agents. An excellent way to get qualified leads is to work an open house with a real estate agent. When you help an agent with an open house, guess who shows up? That’s right, buyers. Yes, there will always be a few who will stop by an open house just to see what it looks like inside or maybe someone who lives down the street is a bit curious as to what their home might sell for, but the majority of those walking through the house are active buyers. And, those buyers are walking through the house with their agents as well. When you work with an agent at an open house you can provide bring over complimentary appetizers and drinks. Print up some flyers with your contact information on them and list monthly payments based upon prevailing interest rates. You can include Certified Public Accounts in this group as well. These people don’t see loan officers in their offices every day. In fact, they rarely do but they’re a solid referral source. Their clients are typically self-employed, have higher incomes and need the professional services of those to handle their finances as well as planning for retirement. When someone’s financial planner makes a referral, it’s taken seriously. When CPAs start to get busy near income tax filing time, that’s not the time to make sales calls but it is the time before and after. CPAs know which clients have mortgages and take the mortgage interest deduction. If you put together a spreadsheet showing the amount of interest someone can save based upon a shorter loan term or lower rates, that information can be forwarded to their clients. Take advantage of your social media presence to promote your business. Follow other referral sources such as real estate agents, builders, financial planners and others. Most everyone you know both personally and professionally has a website, FB page, Instagram and Pinterest account. Be active and don’t feel like you have to promote a new loan program or promotion every post. Just be consistent with your comments. Using social media platforms is an excellent way for people to get to know you better as a person. And as with any promotion via print or otherwise, when you solicit business on social media and quote interest rates make sure you’re in compliance as it relates to quoting the APR along with the note rate, loan amount and term. Content marketing today is simply how marketing is done in today’s digital world. But you do need to be found in the sea of loan officers and you can target your leads by providing relevant copy on your blog and web page. Post consistent articles and blogs that contain keywords and phrases that will cause your website to pop up on the first page of results using Google or Bing. If your local market has a special program for first time buyers, write an article promoting the program. Consumers who search for information for first time buyers will soon see your site. There are metrics that point to how much it costs to find a new client compared to selling to an existing one. Begin a consistent email campaign built from your database of past clients. This is so important yet not deployed as often as one might expect. While your past clients may not need a mortgage today they certainly might know someone who does. The point is to be on your past client’s shortlist/. When getting a mortgage is a topic of conversation, you’re right there on the tip of the tongue. When you promote you and your services do a bit more than just advertise you have “great rates and great service.” While every mortgage company in town will have the standard fare of fixed and adjustable rate programs, find a mortgage product that caters to a select audience. For example, a popular loan program caters to teachers. Set up an after-school seminar and hold a class on the loan program specifically designed for educators and employees of public and private schools. Many states offer special loan programs for veterans as well along with other special niche programs. Niche marketing is a good way to separate yourself from your competition and introduce a brand new source of referrals at the same time Niche marketing means your name will come up more often when home loans are being discussed. Those in the same field trust one another more than someone that is not. Teachers trust teachers more than teachers trust plumbers. There is a camaraderie there you can take advantage of. Using your email database to keep in contact with this close group will keep your phone ringing. Another source for mortgage leads is forming a relationship with a divorce and family lawyer. Unfortunately, when couples split up many times there is also some real estate to deal with. For instance, a couple splits and one is awarded the home and the other is not. But the divorce decree doesn’t take the ex-spouse not awarded the home off title and the mortgage. While a quit claim deed can help with title issues, if both were on the original mortgage only a refinance can put the individual keeping the house on the loan. And for the spouse not living in the property, it will be necessary at some point to refinance the old mortgage in order to qualify for a new one. Find and join a local business referral network. These organizations meet on a regular basis solely for the purpose of obtaining leads from one another. Membership is made up of various types of businesses and not concentrated on just one type of profession. In this manner, members not only trade referrals at meetings but keep other members in mind as they go about their daily business. There are other ways to obtain mortgage leads and the list certainly doesn’t end here. At minimum, you should be working at least three of these referral sources constantly. Instead of relying on advertising or flyers, being on the receiving end of a personal referral means you’ve already been endorsed by someone your prospect trusts. And the best way to start getting referrals is to start providing them. It works both ways and when someone you know needs the services of a CPA for example, you can bet that same CPA will keep you in mind when their clients ask about home loans. Click on link below for funding http://application.fullcirclehousing.com

Wednesday, January 3, 2018

Links relating to Full Circle Housing LLC

1) www.fullcirclehousing.com With extensive experience in both development and investment, Full Circle Housing knows how to find the right properties and acquire them at least 40 percent less than the fair market value. From there, we capitalize on the free equity to get a better deal. Click here to learn how to become a joint venture partner, PML or an accredited investor with Full Circle Housing. 2) http://application.fullcirclehousing.com With the alternative loan specialists at Full Circle Housing, you can get the alternative loans you need for any sort of property type. Full Circle Housing looks at the merits of each of your requests for a loan instead of your credit history to get you approved for loans around the clock. Click here to learn more and apply today. 3) https://m.facebook.com/story.php?story_fbid=1400400273375406&id=1015343418547762 No matter what you are hoping to learn about selling, foreclosing, borrowing or trading mortgages and houses, the books that are being offered by Full Circle Housing can help you get started. These books span a wide range of topics and are available for purchase by following this link. 4) https://www.facebook.com/FULLCIRCLEHOUSING/ Full Circle Housing provides you with everything you need to sell your house, no matter the location or the condition of the home. This company also offers property management, full-service home repairs and real estate listings for you to choose from. Click here to learn more. 5) https://m.facebook.com/story.php?story_fbid=1386042258144541&id=1015343418547762 Get your own C-1 zoned commercial lot through Full Circle Housing. These lots are low in price and come ready to build, surveyed and staked. At closing, you will be given the title insurance and warranty deed straight away. These lots are ideal for over 150 uses, so click here to learn more today. 6) https://www.homedirexllc.com/fullcirclehousing If you are ready to get financing in order to invest in your properties, Full Circle Housing can help. This company works with Direx Capital to help bring their customers the most competitive loans in the industry. These loans span a number of uses and require no minimum FICO score. Click here to learn more and apply. 7) https://www.facebook.com/fullcircleauto1/  At Full Circle Auto LLC, you can get your hands on a new car for a lower price than ever before. Full Circle Auto LLC sets their customers up for success by giving them the opportunity to acquire the right car from them no matter what their needs are. Check out this link to learn more. 8) https://m.facebook.com/story.php?story_fbid=806839092815611&id=771232936376227 Get proof that the car you are considering will run as well as Full Circle Auto LLC says it will thanks to their use of an ASE-Certified Mechanic. Available for trade or purchase, the cars being offered feature under 140,000 miles and have no gauge lights on to speak of. Check out this link to learn more. 9) https://m.facebook.com/story.php?story_fbid=800681380098049&id=771232936376227 At only 213,000 miles, the 2008 Pontiac G6 being offered by Full Circle Auto is a steal. This car drives well and runs great and can be acquired with just a quick phone call to Full Circle Auto. If you want to learn more, just click this link. 10) https://www.linkedin.com/in/alphonso-hayden-a6a406116 Having spent a few years studying banking and financing at the East Mississippi Community College, Alphonso Hayden is a business entrepreneur that can close the deal on your next car or house. He runs both Full Circle Auto and Full Circle Housing. Check out his LinkedIn to learn more. 11) https://www.limaonecapital.com/application/?r=BR-AlHayden Lima One Capital LLC is one of the top lenders in the country for those who are interested in real estate loans and investments. Applying for a loan takes only a few minutes of your time and can set you up for the investment of your dreams. Click here to apply today. 12) https://plus.google.com/+AlHayden Get connected with Al Hayden when you are ready to invest in your new piece of real estate. With education in both banking and finance, Al Hayden possesses the tools you need to make the most out of your investment. Check out his Google+ account and get connected today. 13) Add me on Snapchat! Username: ceo_alphonso https://www.snapchat.com/add/ceo_alphonso When you want to see what deals await you at a moment's notice, there is no better tool than Snapchat. Add Alphonso Hayden to Snapchat today at ceo_alphonso or click this link to add him. You can learn about the hottest new deals as soon as they arrive. 14) Full Circle Housing LLC is a full service real estate investment company that can help you invest in the property or the house of your dreams. Whether you want to invest in residential property, commercial property or both, Full Circle Housing LLC can help. Click this link to learn more. 15) https://twitter.com/igrbrokers?s=09 Stay in the know about what real estate investment opportunities are available for you by connecting with Alphonso Hayden of Full Circle Housing LLC on Twitter. Follow him for all of the latest news and information regarding investing and buying by clicking on the link found here. 16)https://m.facebook.com/story.php?story_fbid=2338713509687862&substory_index=0&id=100006477078791 If you are ready to sell your SFH performing note for cash or are just interested in getting a quote, you can do that with the help of Alphonso Hayden. There are a few questions to be answered during a phone interview, so get in touch using the link found here. 17)https://m.facebook.com/story.php?story_fbid=2335713216654558&substory_index=1&id=100006477078791 Get ready to buy more investment properties reliably and easily with the help of Alphonso Hayden of Full Circle Housing LLC. Here, you will be able to get a quote for your next real estate investment or get funding through Full Circle Housing when you click on the link found here. 18) https://m.facebook.com/story.php?story_fbid=2309770142582199&id=100006477078791 Every griller and pit master needs their own mobile barbecue pit, and when you go though Alphonso Hayden, you can get yours and get it set up professionally and immediately right away. Get the initial setup for free and start making more money today by clicking on this link. 19) https://m.facebook.com/story.php?story_fbid=2304482253110988&id=100006477078791 If you are interested in joint venture funding and are curious about a one to two year PML opportunity, Alphonso Hayden of Full Circle Housing LLC can help get you started. Partner up with him and start making greater passive income when you go to the link found here. 20) https://m.facebook.com/story.php?story_fbid=2287809158111631&id=100006477078791 A licensed dealer in Mississippi, Alphonso Hayden can help you connect with buyers and sellers to acquire or sell any car. Get a quote on any car and find the right vehicle for your needs. Go through Alphonso Hayden today and click on this link to learn more information.

Developing Relationships With Lenders

Click Here! One of the most important components of getting started in the mortgage broker business is developing relationships with lenders. To become successful and offer the best possible service to borrowers, the mortgage broker must work with many mortgage lenders. If the mortgage broker has good relationships with underwriterst and processors that work for the lenders, his job can be much easier. The lender/mortgage broker relationship is mutually beneficial. The mortgage broker gets paid when loans close. The more loans that close, the more money the broker makes. To close more loans, the broker needs lenders or access to other lead generating tools at their disposal. The more lenders the mortgage broker can cultivate relationships with, the more programs and choices he is able to offer his clients. The lender’s benefit from the relationship as well, as they have a product to sell. To attract borrowers, the lender has to spend money on advertising and marketing. A broker makes the job of the lender much easier. He brings borrowers to the lender. Since the mortgage broker spent his own money to find his client, the lender has saved both time and money. This relationship is so profitable that mortgage lenders have departmentsdedicated to working directly with mortgage brokers. This department offers mortgages at wholesale rates that offer better deals than customers get when they contact the lender directly. This results in a lower interest rate for the borrower. There are two basic ways to get started in the mortgage broker business. You can work for a company or start your own firm. There are benefits and drawbacks to both options. These will be covered in the next topic. Click on link below for more Real Estate related topics... www.fullcirclehousing.com

If You Mess This Up, Your Next Flip Will Probably Flop!!!

If You Mess This Up, Your Next Flip Will Probably Flop by Christopher Gill | BiggerPockets.com www.fullcirclehousing.com Click Here! Have you ever walked into a house and something just felt off? No, I’m not talking about ghosts or the next haunted-house horror movie. If this happens, chances are it’s because the floorplan wasn’t well designed. I’ve seen this “cardinal sin” of real estate development committed on every level of house, from rehabs to old and new construction alike; people don’t spend enough time designing floorplans. Everyone loves to pick tile, paint colors, and cabinet finishes, but if the floorplan doesn’t make sense, the house won’t sell (and if it eventually does, it will be at a huge discount). What can you do to ensure this mistake doesn’t haunt your next rehab? Related: Expert Tips and Tricks for Successfully Flipping Houses Here are a few tips from someone who’s taken some of the worst-designed floor plans and years of poor planning and created spaces people love living in: Ensure the number of bedrooms and bathrooms are correct for the size and location of your project If you don’t get this right, you’re headed for immediate failure. The typical home in the United States today is a 3/2. If you rehab an older home, chances are it won’t have enough bathrooms. The extra expense and time is completely worth it. In all MLS systems, people specify the number of bedrooms and bathrooms they want. If you are outside this criteria, people won’t even see your home. Make sure you’re attracting the maximum number of potential buyers. Get your bed and bath count right! Create usable living spaces This may seem completely obvious, but you wouldn’t believe the numbers of freshly rehabbed homes that have small living spaces chopped up and tucked away from the rest of the house. Today is the age of open living spaces. Formal dining rooms aren’t as popular as they once were, and they probably won’t be used. Give that extra space to a larger, more-flexible living room. If you have to, open up walls and throw in a few beams or columns. Create spaces to entertain in; if the party people like it, chances are the rest of us will to. Design jaw-dropping kitchens & bathrooms These are still the spaces in the home to invest your big dollars. Spend the extra few dollars per foot on the cool backsplash tile. Put glass fronts on your upper cabinets. Design built-in wine storage. Add the vintage lighting. People will absolutely notice. Another thing I’ve started doing is raising the height of my shower fixtures. These are typically installed at a little over 6 feet, but I’ll go to 7.5 feet. I also love sconce lighting in bathrooms. It’s the little tweaks and upgrades that give a space the high-end feel. Install walk-in Closets If you are ever faced with the dilemma of either having a bigger bedroom or a bigger closet, do big closet every time. This gives your buyer the ability to declutter the bedroom with plenty of storage to put their belongings out of sight. Nobody likes small closets. This will be another potential deal breaker if you make the wrong call.

How To Get Started as a Mortgage Broker

Click Here! www.fullcirclehousing.com There are no specific educational requirements to become a mortgage broker. No college or universities offer a degree program specifically for mortgage brokers. Some states require a class be taken prior to the certification exam, but a college degree is not required. Some brokers do have a business or finance degree, but others do not. The benefit of having the degree is mainly for public relations purposes. Clients tend to have more confidence in a professional with a degree, which is a hurdle for new mortgage brokers. Once the broker has established himself in the community and has relationships with mortgage lenders, the degree becomes less important. The broker is able to focus on his success and business reputation and development to acquire new clients, even without a diploma hanging on the wall. Professionals with a college degree tend to earn more money, particularly when they are working for a brokerage firm. With a graduate degree, the earning potential is even higher. Mortgage brokers with a master's in business administration or a master's in finance can earn 15 to 20 percent more than a broker with a bachelor's degree or no degree at all. Some larger firms offer tuition reimbursement that allows brokers to return to school at the company's expense. Formal education is a plus, but more is needed to become a successful mortgage broker. There are certain skills that are needed in this industry that cannot be learned in college. An effective mortgage broker needs to have good people skills, be good at reading people, have the ability to think on his feet, and make adjustments based on the situation. A good broker also needs sales and marketing skills. When a mortgage broker is searching for clients, he is selling himself. Professionals with previous sales and marketing experience often have the skills needed to succeed as a mortgage broker and tend to do well in this field. The mortgage broker industry is regulated on both the state and federal levels. The professional broker must meet the requirements and follow all laws related to the industry. Licensing fees, background investigations, surety bonds, and mortgage classes may be required, depending on the state in which the broker will be licensed If you want to apply for a mortgage of any type click on this link below... http://application.fullcirclehousing.com

Tuesday, January 2, 2018

What Is a Mortgage Broker?

Click Here! The best place to start a discussion about becoming a successful mortgage broker is with a definition. A mortgage broker is a financial professional who acts as an agent between borrowers looking for mortgages and the institutions that offer them. The term mortgage broker is used to refer to both the individual broker and the brokerage firm. It is the job of the mortgage broker to find a lender that offers a program that best suits the needs of the borrower. A mortgage broker works with a number of lenders, with the range being as low as 10 or as high as 100, depending on the mortgage broker. The large number of lenders allows the broker to find more loans than a borrower ever could on his own.  http://56160fpkf3-m9sf0vosoviwo4u.hop.clickbank.net/ The mortgage broker contracts with the borrower and takes the application. The mortgage broker then presents the loan to several lenders with programs that fit the borrower's needs. The borrower could do this without a mortgage broker, but it is time consuming, and the broker has access to better rates than those offered directly to home buyers. The mortgage broker offers another valuable benefit to the borrower. He makes a recommendation on the best loan option, based on his expertise and the borrower's financial situation. Comparing rates, terms, points, and conditions are difficult without knowledge and experience. This is what the mortgage broker offers to the borrower. According to the National Association of Realtors, 65 percent of borrowers use a mortgage broker to secure a home loan. As consumers realize the benefits of using a broker, the demand will continue to increase. This is good news for professional mortgage brokers and those entering the field. The bulk of the mortgage broker's day is spent on two main tasks: finding clients and finding loans for existing clients. New brokers are often surprised at the amount of time that needs to be devoted to finding borrowers. The job of finding new clients is important and not just in the beginning of your career. New business is needed on a continual basis to earn commission, which is how brokers are paid. Click on link below for more Real Estate related topics... www.fullcirclehousing.com

Monday, January 1, 2018

Home Equity Explained: What It Is and Why It Matters

Home Equity Explained: What It Is and Why It Matters Equity is the market value of your home minus what you owe — ideally, a positive number. Building equity can be a long-term strategy for growing wealth. HAL M. BUNDRICK, CFP September 1, 2017 www.fullcirclehousing.com Save You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Here's how we make money. home-equity-explained-matters It is often said that homeownership builds wealth. So, what is home equity, and how can it enhance your net worth? What is home equity? Building home equity is a bit like investing in a long-term instrument, like bonds. Your money is, for the most part, locked up and not spendable. There are some ways to tap it, but wealth is created over years as your share of “free and clear” ownership of the house increases. Home equity, by definition, is the current market value of your home, minus what you owe. You’re looking for a positive number there. Any gain comes from: Paying down the principal on your loan An increase in market value over time It seems simple enough, but it’s not guaranteed. Just ask any homeowner who went through the most recent housing bust. When a housing bubble bursts, home equity can be an elusive concept, especially in underperforming housing markets, or if considered over the short term. As a rule, building home equity is a slow climb, at best. U.S. residential year-over-year home price appreciation averaged just 1.89% over the last 20 years, adjusted for inflation, according to CoreLogic, the Bureau of Labor Statistics, and the Urban Institute. However, behind that average are some major year-over-year price swings during the same period, ranging from +12.6% to -18.1%, according to the Urban Institute. When it comes to short-term home appreciation, sometimes it’s more of a bungee jump than a climb. It’s a good thing your home’s value isn’t texted to you monthly. If you like this article click on link below for a wonderful book on Rehabbing Properties  https://realestatemogul.com/rehabbing-for-monster-paydays/?a_aid=5ZpxiqobrWuoc Open more doors for your financial goals. Set your goals and see your progress. Signing up won't affect your score. Get your credit score Why is home equity important? The gradually expanding value of a home is a financial resource that can gain momentum over time. Because mortgage payments reduce the debt as the asset itself gains worth, paying on a house has been called “a forced savings account.” This is unlike virtually every other type of asset purchased with a loan, such as vehicles, which lose value while you pay them off. Because mortgage payments reduce the debt as the asset itself gains worth, paying on a house has been called ‘a forced savings account.’ A growing number of U.S. homeowners are amassing “impressive stockpiles” of home equity wealth, according to Daren Blomquist, senior vice president at ATTOM Data Solutions, in a recently released study. At the end of the second quarter of 2017, there were more than 14 million American properties considered “equity rich” — meaning the debt on the property was 50% or less of the home’s current market value. That’s about 24% of all owner-occupied homes with a mortgage. Home equity takes time to build Another nutrient helping to grow home equity wealth is time. Homeowners who stay in their homes longer are more likely to accrue equity. In the second quarter of 2017, people selling their homes had lived there an average of more than eight years. That was the longest ownership period since ATTOM began tracking homeownership tenure in 2000. Before the recession, people were staying in their homes an average of about four and a quarter years, ATTOM data show. “That’s a paradigm shift — a more conservative approach to homeownership and building wealth through homeownership,” Blomquist tells NerdWallet. The study found that over 45% of properties owned for more than 20 years were equity rich. However, that number seems remarkably low, considering the long period of ownership. “Keep in mind these are the subset of owners who still have an outstanding mortgage,” Blomquist says. “Our data shows 40% of all homeowners who have owned more than 20 years own their properties free and clear, compared to 34% of all homeowners.” Blomquist says it is also a testament to just how widespread the ripple effects from the housing crash of the last decade have been. “Many of these homeowners of 20-plus years lost huge amounts of equity during the downturn as home values plummeted 30% nationwide and much more in some markets — a deep hole to dig out of even with the strong market recovery of the last five years,” he says. Just 10% of homes owned for less than one year are considered equity rich, according to ATTOM. How does a home equity loan work? You don’t have to sell to tap the profit inside your home. Instead, you can borrow against that value with a home equity loan or line of credit. A loan will provide you a lump sum; a HELOC allows you to draw on the available balance as you wish. While the establishment of home equity lines of credit is increasing — in fact, they’re at an eight-year high — there are now one-third fewer HELOC accounts than during the prior housing market peak, in 2005. Blomquist believes there is a new, cautious attitude to tapping home equity among today’s homeowners. And such a conservative approach is yet one more important component to building wealth. » MORE: The pros and cons of home equity lines of credit Home equity is not a get-rich-quick scheme Building home equity is definitely a long-term proposition. Blomquist says wise words from one of his relatives may state it best. “My wife’s great-grandfather — who bought property in Southern California a long time ago — his advice was, ‘You take care of a piece of real estate for 20 years, it’ll take care of you forever.’” Click on link below for more Real Estate related topics... www.fullcirclehousing.com