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Equifax Hack Could Make Real Estate Wholesaling More Important

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on Thursday, 14 September 2017
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Mega data hack at Equifax could make real estate wholesaling even more vital to numerous individuals and families.

The massive recent data hacking scandal at credit bureau Equifax could shake up the finances for millions of Americans. Could wholesaling real estate be a solution for putting your finances back together?

50% to 100% of Americans could have had sensitive data stolen through the Equifax data breach according to cybersecurity experts. That means hundreds of millions of individuals who could have their identities stolen, credit histories destroyed, and bank accounts emptied. Experts say it can take over a year to fix this issues, if they are ever fixed.

In the meantime many may find they are unable to get jobs or promotions, can’t rent new housing, and don’t qualify for traditional home loans. This is on top of the recent losses caused by major hurricanes Irma and Harvey.

Real estate wholesaling stands out as one of best ways to get back on top of finances. It’s fast, can produce quick results and big paydays, and perhaps most importantly - does not rely on having good credit or using your credit to qualify for financing. For these reasons many who find they need a new career, or an alternative real estate investment strategy in order to cover financial gaps, replace losses, and carve a new path forward may discover they have few other options.

There are still substantial opportunities to wholesale real estate across America. This can include single family homes, as well as commercial properties. Expect there to be more activity in this part of real estate over the next few months and years. While some may be able to hang on with current savings for a little while, the more time that passes, the more who may be impacted by the above factors. Those who are first to establish themselves in wholesaling will definitely have a great edge.

Have you been impacted by these factors already? Have you considered wholesaling?

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3 Ways To Overcome Your Fear Of Financing

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on Thursday, 24 August 2017
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Many real estate investors are allowing themselves to be held back by a fear of using financing. Here’s how to beat that…

Both would-be investors and already active investors can be held back by a fear of using financial leverage. They may fear being in debt, not want to take a hit by having their credit pulled, or just don’t trust the big old banks to pull through or treat them right. These are all understandable concerns. Yet, they don’t have to hold real estate investors back from their goals.

Realize That Leverage is a Must

Leverage is a must for many reasons. It can actually lower risk, help increase diversification, and is vital for 99% of the population to reach their financial goals and needs. Even if your income is great right now, it is essential to create a financial cushion, and build a nest egg for retirement. Only the top 5% of savers may have more than $250,000 in retirement savings. That’s just nowhere near what it going to take to retire today. Once you realize, leverage is a must, it is just a matter of finding the right type that fits your risk tolerance and values. And there are plenty of good options out there.

Non-Resource Loans

Avoiding bad personal debt, or depleting your credit score is smart. Yet, there are non-resource loans and business purpose financing options which don’t require to personally guarantee repayment. These loans are asset based. Either based on the value of the property, or its income production. There are mortgage lenders who offer these options, as well as private lenders who may be approached with your opportunities.

Transactional Funding

Transactional funding is one of these forms of financial leverage. Used in real estate wholesaling, transactional funding means you are in and out of the loan in just a matter of hours. With your deals pre-sold, you already have your exit. Best Transaction Funding requires no credit check, no income verification, and no appraisal, making it one of the fastest, surest, and most efficient types of leverage.

Get in touch and get your Proof of Funds Letter today…

 

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4 Ways Property Wholesalers Can Help Their End Buyers Be Successful

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on Thursday, 29 September 2016
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The more property wholesalers help their end buyers be successful, the more they will be successful themselves.

Wholesalers who are serious about succeeding will proactively look for ways to help their end buyer customers. The more profitable and efficient they are, the more homes you can sell them, the more loyalty and trust you will build, and the more you’ll enjoy what you do.

So how do you help your rehabbers and landlords who are buying your properties?

Pile on the Referrals

As a true wholesaler you may not be interested in retail buyers, or getting involved in renting or rehabbing at all. Yet, chances are you’ll run into plenty of these leads every week. Pass them forward.

This can include renters, Realtors, contractors, retail home buyers, and buy and hold investors looking for rentals, as well as lenders offering long term financing and rehab cash.

Provide Better Intel, Earlier

What slows most rehabbers down the most? Evaluating properties and getting the work complete. So give them a better head start. When you can get them access to the property in advance. When you can’t provide more detailed information, repair estimates, repair needs, etc. If you let them know what deals you may have coming up, even before you are ready to close on the B to C transaction they can be sure to have their financing and crews lined up too.

Share Marketing Tips

What is the biggest sticking point for more end buyers? It’s getting that property resold or rented so they can bring cash in and buy more inventory from you. Help them with that. It is only to your benefit. According to RealtyTrac flip times are at a new record high of over 6 months! That’s crazy. Start a real estate blog and share marketing tips to help them move their deals faster. Share tips you find via social media and email too. They’ll appreciate it, and you might generate more end buyer leads in the process.

Be Consistent

Stay consistent with your inventory conveyor belt, the quality and accuracy of your deals, the match for your end buyers, and the frequency. If they can rely on you to have the good deals when they want them then they will keep coming back.

 

Authored by BestTransactionFunding.com - the leading source of transactional funding for real estate wholesalers in the US. 100% financing, and saying “Yes” is what we love doing all day long.

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Wholesalers Key To Sustainable Housing in America

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on Thursday, 09 April 2015
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Real estate wholesalers have become essential to creating more sustainable housing in America. So how have property wholesalers become the key to solving US housing crises. And how can they help make more of a difference?

The Real Definition of Sustainable Housing

In his new book R.J. Martin of Green Homes Hawaii argues that ‘Sustainable’ housing is about more than just LEED certifications. In order to be truly sustainable housing not only needs to be eco-friendly but affordable too.

America is facing a growing affordable housing crisis. The McKinsey Global Institute says that the world is on its way to over 1,600,000,000 individuals that can barely afford housing, or have to live in unsafe housing. That’s on top of all of those already forced out of housing. Affordability is about more than low rents or mortgage payments. Utilities are a big part of overall housing costs too. The new mandatory water restrictions in California show that recent building methods haven’t just been costly, but can no longer be sustained.

Building Better Solutions

Fast Company, 100% Sustainable Home Builder Mesocore, and The McKinsey Institute believe America’s affordable housing crisis can be solved via…

Unlocking property to be redeveloped

Finding more affordable ways to create housing

Improving energy efficiency

Better financing

It is also undeniable that one of the most important components of fixing the current landscape is to recycle the billions of dollars in distressed properties and REOs out there right now. Millions more homes remain vacant than there are homeless people in America. In Charlotte 1 in 4 foreclosures in the first quarter of 2015 were classified as abandoned ‘Zombie Foreclosures’. Wholesalers are key to recycling these homes and putting them to good use. There is a massive amount of this housing stock, and it is more sustainable to use this than develop raw land (in most cases).

DistressedPro just released a new Definitive Guide to Bank Owned Property that breaks down how to find, negotiate, and buy REOs, and reveals the top 10 US banks with REOs right now.

How Important Real Estate Wholesalers Are

Wholesalers are vital to taking this housing and getting it into the hands of homeowners and renters. Most importantly; wholesalers control the flow of this housing.

Wholesalers choose who gets the inventory.

You get to choose who gets to buy it. And in turn what happens to it. Will you just cash out to the first bidder? Or will you build a list of ethical buyers? Buyers that will make green and sustainable improvements and renovations. And if they’ll be tearing down to rebuild; buyers that will build affordable green homes.

Some real estate investors are simply in to make big money. You can make big money, and make a big difference. When you look back on your life’s work wouldn’t it be great to have had a part in helping families, ensuring safe housing for kids, and creating healthy housing? You’ll be responsible for one or the other. You choose. Though handing our children millions of dollars in inheritances may be of little use if the environment is a wreck and housing hasn’t been fixed.

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

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7 Tax Saving Tips for Serious Real Estate Wholesalers

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on Wednesday, 19 November 2014
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Serious real estate wholesalers know that taxes alone can make a double digit difference in their net returns and profits each year. So what are some of the best tax saving strategies and vehicles for investors to leverage to give less to the IRS, keep more cash at the end of the year, and speed up wealth building?

1. Self-Directed IRAs

Self-directed IRAs are one of the most powerful tax saving and investment tools available to real estate investors. They are often used by income property investors and private lenders, but are normally sorely neglected by property wholesalers. This may be out of a rush to get started and build up cash fast, but there should be no reason contributions aren’t maximized even from the first year of wholesaling houses. The compounding benefits will help those using them far outpace the performance of others while having to complete less deals for more results.

2. Maximizing Mileage Deductions

According to Ney Torres most individuals neglect as much as $6,000 in mileage deductions each year. The entrepreneur’s new Car Footprints device plugs into investor’s automobiles and does all the tracking for them.

3. Property Tax Adjustments

While real estate wholesalers may not hold onto many properties themselves thousands can be potentially saved each year just by lowering the property tax liability on their own homes. This can especially make a massive difference for homeowners in high tax areas of California and New York, and can be as simple as employing a local property tax adjuster to file a grievance with the taxing authority on their behalf.

4. Charitable Contributions

While reducing taxes may not be the best reason for contributing to charity, those with a charitable heart ought to take advantage of the breaks they are offered. There can also be significant benefits for both sides for making larger, and in-kind donations. This can include tactics such donating real estate or older cars. For some this may be the only graceful exit from upside down equity.

5. Maximize Spending During Holiday Sales

For some real estate wholesaling business owners additional tax deductions may be found in investing cash surpluses in advanced needs during holiday sales.

6. Maximizing Mortgages

One of the main reasons high net worth individuals and investors do not subscribed to the ‘free and clear’ strategy is to minimize tax liability, and maximize deductions with the mortgage interest deduction (MID) despite having plenty of cash. Where should you be using financing, or refinancing?

7. Retain an Awesome Accountant

This should go without saying but having a great CPA and tax attorney is crucial for wholesalers. A decent one will more than pay for their services and help keep investors free from legal issues.

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Revving Up For The Summer Real Estate Rush!

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on Tuesday, 22 April 2014
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It’s time for real estate wholesalers to start revving up for the peak summer rush. This is the season which can make all the difference for investors. It’s those that recognize this and capitalize on it, which will gain the most.

Real estate investors who are flipping houses can’t afford to underestimate how important summer is to them. There is a lot of both buying and selling of homes which can make each prospect worth a lot more. Like the stock market much of the gains in real estate are made in a few months. Those that win big in summer will lead for the rest of the year. Some may even make enough to kick back and head to the tropics for the colder seasons ahead.

Go in strong, finish strong.

Time to start prepping is now. Waiting till summer is here and trying to wing it or telling yourself you’ll put in extra hours then and work harder, may not only be a poor use of time and resources, but ineffective. It’s a lot better to work smarter in advance.

Key to wholesalers winning during this peak market season is knowing who is strong in the market, and what’s most important to them.

Foreign buyers on vacation, families moving in between school years and workers relocating are all major forces in the market.

They are on a time crunch, and need to act fast or not at all. To win their business investors need to serve up the info they need to make a quick decision, make it easy for them to sell and buy, and get to know and like the area fast. Being able to connect them with equally great and loyal third party services for a streamlined and seamless transaction is also critical. All of these factors may be far more important than price during this peak season.

Get the edge on the competition and win minds and the business even before they are ready to make a decision with themed blog content, reaching them overseas early directly with Adwords or through affiliates and look to forge strategic partnerships with corporations that have the handle on many movers.

Finally, it should go without saying that having financing lined up through BestTransactionFunding for plenty of liquidity will enable wholesalers to fully capitalize on their volume potential during these months.
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Pre-Fab Homes A Holiday Hotspot For Wholesalers?

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on Friday, 15 November 2013
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Are pre-fab homes the newest sweet spot for real estate wholesalers this holiday season?

Prefabricated properties could be one of the hottest trends and biggest profit centers for real estate investors this season. Here’s why…

Pre-fab homes, also known as modular or manufactured homes are trending again, yet are often ignored by many investors due to being misunderstood and the confusing terminology.

Mobile homes are often an ugly four letter word in the real estate and mortgage business and few want to go anywhere near them. The have many issues and lenders commonly won’t even answer inquiries about loaning on them. They are a big risk as they are so easily removed or wiped out by bad weather, and the majority of those in existence are outdated.

However, mobile homes are not the same thing as manufactured housing. Pre-fab means the majority of the construction is done in pieces off site, and then it is all put together like a Lego set on the desired site. This removes tons of construction constraints and objections by permitting authorities. More significantly it means larger profit spreads.

This niche has also been one of Warren Buffett’s favorite and longest running businesses, which is one of few which continued to perform through the crisis.

Lately, this niche has been taken to a whole new level with higher end modular apartment buildings going up in New York and even urban Downtown Seattle. Perhaps even more innovative is a new breed of 100% sustainable hybrid home from Mesocore which has residential uses here in the uses and can double as shelters, medical centers and schools in developing nations or disaster zones like Tacloban in the Philippines.

Conventional lenders like Wells Fargo are catching on to this trend and property type and are providing financing to builders, and no doubt end buyers as well. In many cases these properties could still use a better marketer who knows how to position them and highlight the advantages to end investors and buyers.

This is where property wholesalers can really cash in, especially right now, thanks to the holiday gift rush, year-end bonus season and surge to invest capital to minimize 2013 tax liabilities.

Contact Best Transaction Funding today to ask about flash funding for wholesaling these real estate deals…
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Investors Must Prepare for Major Market Shift

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on Tuesday, 07 February 2012
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There is a major market shift coming that could end the majority of real estate investor’s businesses as fast as the last bubble bursting if they aren’t prepared for it...

Regardless of what the banks and government are doing or proposing to stem the flow of foreclosures a seller’s market is on the way and if the wave hasn’t hit your area yet, it could be a tsunami sized slap to your cash flow.

Real estate investors have enjoyed a free ride for the last few years with endless deals at ridiculous discounts to choose from. Many have never experienced a bidding war or know what it is like to be told not to make an offer unless it is full price. However, this is already happening in many areas of the country. There aren’t weeks or even days to think over whether you should put a property under contract, demands for bigger deposits and Proof of Funds are increasing and even trying to get a return call about an available property is going to be pretty difficult. If you business model isn’t structured right you could be in for a big wake up call and a stall in your cash flow.

Real estate investors need to be building better relationships with wholesalers and agents, be improving their negotiation skills, be prepared for tighter spreads as sellers push up their asking prices and focusing on attracting more buyers.

The one big difference between now and the last boom is the lack of availability of financing. There are lots of cash buyers out there to flip to but with sellers becoming tougher o the window to close and hard money a lot harder to get than ever before transactional funding is going to be crucial to your success. Start preparing for the shift now...
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Creative Ideas For Flipping More Houses

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on Monday, 19 September 2011
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While some areas of the country may actually be starting to see the housing market turn more in favor of sellers it is still essential to be constantly innovating in order to flip houses quickly and consistently. Don’t copy local Realtors and other investors. Their marketing may not be as successful as it looks and it certainly won’t help you stand out.

So what could you be doing to flip more houses? Those who already have homes and are planning open houses should strive to maximize traffic, not only through invitations but by pulling in as much drive by traffic as possible too. It is a fact that your best pool of buyers often comes from those who have family or friends in the neighborhood already. So have the kids put up a lemonade stand and wave cars in, hire some attractive ladies to do car washes while prospects browse your homes or come up with a creative giveaway for everyone who stops in.

Giveaways are often hotly debated. Forget the gift cards to Home Depot, free TVs or iPads. Come up with a giveaway that will get your real estate investing company in the news. You can write your own press releases or contact journalists from local newspapers with your story. What about giving away free pizza or Starbucks for a year? Or are there any other local businesses who you can partner with, who will donate a giveaway for the free marketing attention?

If you already have a number of properties why not organize a limo or helicopter tour of them to maximize your sales potential in one day. If you are by the water then perhaps even a foreclosure cruise could be a great idea. Plus if you sell enough homes on the spot you can take the next couple of weeks off to relax and enjoy your profits.

Finally, get creative with your financing by tapping into transactional funding so that you can close faster and rocket your volume so that you can sell more homes.
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Hurricane Preparedness For Your Real Estate Investing Business

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on Tuesday, 30 August 2011
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Hopefully you haven’t been to badly affected by hurricane Irene, though with 3 more months of this year’s Atlantic hurricane season to go and 8 more hurricanes forecast you must make sure that your real estate investing business is prepared.

There are many resources online for tracking storms, finding tips for protecting your properties and advice on battling with your insurance company to get what you are owed. However, what is equally if not more important is business continuity and having your real estate investing business prepared. There may not be much you can do to prevent property damage if a category 4 hurricane sweeps through town, but you can survive losing a property or two a lot easier than being out of business for several week or months.

If you are not prepared and set up to stay wired and connected when a storm rolls in you are asking for trouble. It is usually not the impact of the hurricane itself that kills businesses. It is not having internal or external communication and access to crucial data. This means no deals are being done, all of the marketing you have out there is wasted, staff will leave and your competition will move in. By the time you catch up it could easily be 3,6 or even 12 months down the road. Can your business and your bank account take it?

So what should you be doing to prepare your real estate business? By utilizing Internet phone services which can be forwarded anywhere, using cloud computing technology for accessing databases, storing information and collaborating and having remote staff on call you can keep on operating without missing a beat.

Though this is also a time to line up back up financing sources so that you can still close those deals you were working on and take advantage of hot opportunities with flash funding and transactional lending.
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Real Estate Investor Makes $1 Million Dollars A Month With Transactional Funding

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on Thursday, 23 June 2011
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Looking for a little inspiration to take your real estate investing to the next level and want to know how the pros are really able to make so much?
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