http://www.mypocketdeals.com/news.htmlNumber one referral network for real estate investors and professionals serving real estate investment industry. Our networking tool helps you discover inside connections to motivated cash buyers, industry experts and other real estate investors. Find bargain wholesale properties and make deals. http://www.mypocketdeals.com/theme/standard/logo.jpghttp://www.mypocketdeals.com/http://www.mypocketdeals.com/detailnews/id/20/how_do_i_find_bank_foreclosures_with_equity_for_less_then_25000.html2010-03-07 19:58:27With the glut of Foreclosures that are on the market the Banks are becoming very creative in working with individual Investors to sell their properties This is creating a Bonanza for the individual investor that always wanted to buy cash flow propertiesHere is what Banks are currently offering1 Properties that are less then 25k - That is the total fund you need not the down payment 2 Properties that are guaranteed to be live-able - If they are not the bank will replace the property 3 Properties that will provide cash flow of 250 per month - 4 Available Property Management for 10 of the rent to manage all your tenant needs - Turn Key Investment 5 Exit strategies in 1 year to 18 month to cash in on your Equity - 6 Appraised Values with a minimum equity value of at least 20k more then purchase price 7 Clear and Marketable TitleThis type of offering is usually held for investors that have 5000000 in cash There are still some advantages for the larger investor but the opportunity to build a cash flow investment portfolio has never been greater then todayThe greatest thing about these deals is that you do not have to negotiate with individual owner and the investment can work turn key The Banks have more supply then the small investor can consumeBanks are aggressively marketing these programs but you should have someone represent you who is experienced in working these type of programsIt is always advisable to have professional representation with someone who is licensed in Real Estate and has worked with investment programsReal Estate and the Economy are causing many Financial Hardships If you would like to help people solve their financial debt problems and get paid to do it go to Home Finance Solutions - and get a 200 Gift from Donald Griffith that will allow you help other people or yourself resolve Mortgage issues and Personal Debt problems You will have access to your own team of professionals that can solve these problems nationwide If you know people that are facing these hardships you can be the solutionhttp://www.mypocketdeals.com/detailnews/id/19/who_is_someone_i_look_up_to_in_creative_investing.html2010-01-18 13:48:47by Nick JohnsonId first like to toot my own horn for just a quick second toot toot Okay thanks for letting me do that I wanted to make a quick blog in response to an email newsletter that I just received that I felt had some value to it This newsletter may not have value to every reader that received it but different strokes for different folksnbspSee Im not a major rockstar I dont travel the guru circuit and certainly dont follow the path of the sheep I do what works for me and I enjoy it Its that simple Sure I get tempted by other strategies methods techniques or whatever the new best thing since sliced bread thing is but I know one thing next week it will be ancient history compared to the next best thing blah blah blah blah now buy my ridiculously over priced ripp-off of someone elses product please thank you sincerely Joe guru salesmannbspBack to the lecture at hand when I received this newsletter I opened it up because I respect what this person says I know hes not a big time guru I know hes a hard working investor like myself Those are the type of people I personally look up too I respect people that regardless of their results whether it be just a few deals or hundreds as long as theyre rockin it with what theyve got and theyre keeping true to themselves I got all the love in the world for yanbspThis newsletter came from a fellow BP member named Tony Severino and Ive always enjoyed his posts hes always responded to me when I initiated conversations with him There was a post a while back speaking of credibility kits or something similar I cant remember the exact name it was referred to Tony mentioned that he does this with great success I asked him to mail me a copy to use as a guidelinetool in creating one of my own He did so at no charge to me which was really great of him to do I since have subscribed to his newsletters and theyve been packed with great info I like his style and enjoy his approachnbspThis particular newsletter he discusses why hes going against the grain and I feel hes totally right in his thinkingnbspWe all know short sales are the sexy thing to do I still do them and I certainly dont want to knock on that He mentioned hell no longer be doing them unless theyre a sure knock out because of the hassle involved with them I certainly understand and agree with him I truly dont think short sales are going to be that great for very much longer Theyre increasing in PITA status but and I mean a big Gluteus Maximus there still is enough reward in short sales to continue doing them IF and I mean IF you really outsource most if not all of your short sale business leaving you with time to do other thingsnbspWhat are the other things This is where I think Tony shines in his forward thinkingnbspHe mentions hell be spending more time on going after Free amp Clear houses Now to me I conclude this into the category of Creative Investing and what I take from this is that Tony is going to be spending less time on doing what everyone else is doing and spending more time on more profitable strategies that no one else is doing Hell be the only fisherman in a lake full of fishnbspThats what I like and thats what attracts me to other investors like Tony Those that can see the true benefits of whats going on Sure everyone and their mothers are trying short sales and if youre just starting to get into them now best of luck to ya youre going to need it Its going to take a long time building your business and by then short sales might be so out of whack that no one even wants to touch them anymore and youll be stuck not knowing where to go what to do or where the money isnbspGuys like myself and Tony will already be 2 steps ahead of you again as we were with short sales Dont worry though well send a postcard from the greener side of the grass If youd like to subscribe to Tonys newsletter I would recommend it its FREE and I think he does a great job with it Check out his site creativeinvestingtipscom and subscribeYou can also connect with him on Twitter GoGetAFreeHouse as well as facebook by simply searching his namenbsp Thats all for today get out there and get some work donenbsp http://www.mypocketdeals.com/detailnews/id/16/mortgage_points_calculator_how_does_it_help_you_by_betty_.html2009-03-25 07:25:30A mortgage points calculator helps you ascertain whether you should pay for mortgage points or apply the money to raise your down payment If you pay more for the points your mortgage rate would become less and vice versa Mortgage Points Calculator How Does It Help YouWhile you pay mortgage points you are paying interest as a lump sum and direct payment for obtaining a reduced rate on your FRM fixed rate mortgage The cost of every mortgage point is equal to 1 of the overall mortgage balance The more you pay for the points the lesser is your mortgage rate Therefore what is the most suitable option for you More points and a lesser rate or less points and a higher rate Should you purchase points At the time of closing purchasing mortgage points can lower its interest rate and this successively lowers your monthly payment However every point is going to cost you 1 of your mortgage balance A mortgage points calculator helps you decide whether you should pay for mortgage points or utilize the money to raise your down paymentTo determine you have to take into account the following1nbspnbspnbspnbspnbsp Whether you have the capacity to make the upfront payment for points at present2nbspnbspnbspnbspnbsp The time span for which you look forward to bear the mortgage loanThe longer you intend to bear your mortgage the more it is reasonable making payments for points currently since you would have a considerable period of time to gain from the reduced rateWith the help of a mortgage points calculator you can compare between a loan without points and a loan where points are being paid This tool would work out the amount that you can save on your monthly mortgage through payment of points and the number of months it would require to regain the points paid Making payments for mortgage points has become a popular trend in the United Stateshttp://www.mypocketdeals.com/detailnews/id/15/the_art_of_real_estate_investing_by_alex_siniavin.html2009-02-26 08:02:58hellip victorious army wins its victories before seeking battle an army destined to defeat fights in hope of winning nbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbsp - Sun Tsu lsquoThe Art of WarrsquonbspEXITSnbspKnow your exits first No investor should ever enter into a real estate transaction without have a clear exit strategy first If you are doing your deals ldquohellipin a hope of winningrdquo you are destined to become an X-Real Estate investornbspIf you want to avoid this glooming destiny there are a few questions you should truthfully ask yourself before your pen hits the closing docsAre you planning to flip a property to another investor or are you thinking of fixing it up and selling it retail How long is your holding time Whatrsquos your daily holding cost How long do you think it will take you to sell Did you compare this projection with an average lsquoDays On Marketrsquo number in local MLSnbspnbsp Are you budgeted for extra hold timeWhatrsquos your rehab and marketing cost Whatrsquos your contingency plan if your contractor doesnrsquot show up for a few days and do you know where he lives J Do you have prospective buyers lined up How will they finance the purchase nbspItrsquos true that you MAKE your profit when you buy but you BANK your profit only when you sell http://www.mypocketdeals.com/detailnews/id/14/dumping_blood-sucking_properties_.html2009-02-26 07:59:37What can you do if your deal turned out to be a dud Sometime it happens to the best of us There are a few cures that can help you ease the pain or stop the bleeding so you can move on to your next project nbsp1 You can take a promissory note from your buyer for the part or entire purchase price If your buyer can give you a sufficient down payment and you can negotiate dissent terms you will be able to turn around and sell your note to a note buyer to get your cash back nbsp2 If you are wholesaling your property to an investor who will rehab and resell it you can structure a note with no payments due until he resells it nbsp3 If a deal turns out to be too thin and there is a lot of work you can partner with a rehabber to whom you are selling your property Your contribution to the partnership is your property and his is materials and work Once the project is complete and the property is sold to retail buyer you will spill the proceeds nbsp4 You can attempt to sell your property for what you paid for it or even take a little loss Itrsquos always better to recognize that yoursquove made a bad investment deal with the problem and stop the bleeding as early as possible nbspYou should always remember when you make your offer you have to include enough room in the deal for someone else to make a profit Donrsquot be too greedy yoursquoll always loose out in the long run http://www.mypocketdeals.com/detailnews/id/13/flipping_properties_what_is_it_.html2009-02-26 07:58:12Flipping properties What is it nbspInvestors who choose to flip properties buy real estate with intention to resell it for a profit In many instances they sell them almost immediately They act as both principle and middleman buying at one price and selling it at a higher price The flipper does not need a license and benefits from low overhead and fewer work hoursnbspTypes of flippers nbsp Birddogs ndash primarily function as information gathers They find potential deals and sell the information to other investors Fees for the information can vary depending on the price of the property and profit potential In some cases it could be as low as 500 to 1000 in others a percentage of the profit for information that leads to a purchase of a propertynbsp Dealer or wholesaler ndash just like birddogs they locate properties for other investors They find bargain properties and sign purchase agreement with the seller Wholesalers provide much more that just information they control the property with the purchase agreementcontract Also wholesaler might assume a certain degree of risk by putting up earnest money to secure the deal Exit strategies are assignment of the agreement to another investor or if margin allows closing on the property and selling it outright A word of caution Not all states permit assignment of contract by unlicensed individuals Itrsquos highly advisable to do your own due diligence and check with your statersquos regulatory board to make sure you are not violating any local laws or regulations by doing an assignment of contract donrsquot always believe what you hear at you local REIA meetings take an extra step to protect your businessnbsp Retailer or Rehabber ndash the goal is to fix up the property and sell it at a retail price to an owner-occupant or a land lord Compared to the previous two types the retailer puts up the most money own cash or borrowed assumes the most risk and anticipates to make the biggest profit on each deal Although itrsquos a lucrative venture retailers are limited by financial resources and number of properties they can buy and rehab simultaneously http://www.mypocketdeals.com/detailnews/id/12/buying_fixer_upper_properties_can_be_very_lucrative.html2009-02-24 13:48:08Flipping fixer upper properties can be very lucrative but only if yoursquore careful with your investment in renovations Yoursquoll be surprised how small and simple changes can increase the value of your investment property even in depressed real estate marketnbspYour goal is to make your investment property appear warm and inviting to potential buyers Even if you are a buying fixer upper with intend to wholesale it for a quick profit cleaning up and removing any trash can go a long waynbspIf you prefer to do the renovations yourself than painting with light neutral colors replacing window and floor coverings will make your house much more inviting and can add a perception of space even to a small house Avoid fancy colors schemes or designs Your goal is to try to appeal to as many potential buyers as possible and to persuade them to see your property as their new homenbspRemove any junk from the front loan and allocate a budget for landscaping The success of your venture depends on your propertyrsquos curb appeal If potential buyers see junk outside they will assume there is junk on the inside as wellhttp://www.mypocketdeals.com/detailnews/id/11/how_to_profit_flipping_properties.html2009-02-24 13:46:58When searching for a new home or a potential investment property aim to buy wholesale only There is no reason to pay retail prices when the market if flooded with inventory Search for properties that are priced for a quick sale And if you have a creative vision and can see prospective property for what it can be not what it is right now you will find many great deals that may need some cosmetic improvementsnbspToday you shouldnrsquot have any problems finding several great investment properties however it would be wise to double-check your projected repair costs Always get at least three contractor estimates and a home inspection is a mustnbspYou only want to buy houses that need cosmetic repairs Try to avoid homes with major structural or mechanical problems In older days it was possible to purchase 3 bedrooms 1 bath and add additional bedroom and bathroom to increase value of the property You can still do it but why With so many deals on the market you shouldnrsquot have problems finding properties that need only 5000 to 10000 in repairsnbspHomes in foreclosure are often priced well below the median price for that area This is because banks will sell homes at or near the amount owing to them from the previous ownernbspFixer-upper properties that come under the foreclosure category can be a great way to make a profit Not only will you potentially be able to buy the property cheap but yoursquoll also be able to increase the value by completing some simple renovationshttp://www.mypocketdeals.com/detailnews/id/10/flipping_properties_in_todays_market.html2009-02-23 12:49:04Smart real estate investors recognize the need to adapt investment strategies to current market conditions in order to maximize investment returns In a buyersrsquo market it could be a good idea to turn your focus to fixer-upper properties With foreclosures on the rise and inventory at its all time high handyman specials could be the best the best bang for your bucknbspMost of your competition is worried about buying investment properties while values are perceived to be dropping and average investors will simply follow the crowd mentality rather than assess each property purchase on its own merit Whether you are a wholesaler rehabber or buy and hold type of investor this is the time when you can find terrific valuesnbspThe only way you can make a profit in any type of investing and real estate is not an exception in when you ignore the general crowd and focus on developing your own investment strategies Let me correct myself think in the opposite direction of the lsquocrowdrsquo If you are running away from the market like everyone else you will miss out on great bargains And if are planning to come back when lsquothings will turn for betterrsquo well at that time yoursquoll be bidding against the crowd nbsphttp://www.mypocketdeals.com/detailnews/id/9/a_game_plan_for_success_investing_in_real_estate__by_larry_goins.html2009-02-17 11:14:00I want to share with you some ideas on using real estate to become debt free and build your cash reserves It has worked for me and I have also shared this with many other investors and it has worked for them also Many investors start out in real estate thinking that you have to ldquohave money to make moneyrdquo That is not the case at all You will need one of two things though either good credit or cashhellipremember that it doesnrsquot have to be your cash or credit as far as thatrsquos concerned Itrsquos OK to start out with other investors until you can do it on your own I would rather share the profits and have some of something rather than all of nothing nbspWe only buy when we can get paid and still cash flow the property Let me explain Let say you find a property that has an after repaired value or ARV of 100000 Because the property needs 20000 in work you can buy it for 50000 Now you will be in the property at 70 of value once the work is done Whether you paid cash borrowed from relatives or got a hard money loan for purchase and rehab makes no difference Once you have a 100000 property you can now refinance at 80 loan to value or LTV and after closing cost pull out about 7000 to 8000 in tax free cash Yes you do not pay taxes on borrowed money But just remember that it is still borrowed money and has to be paid back even if it is the tenants that are paying it back I do not recommend refinancing over 80 loan to value This way you still have some equity for your financial statement and the property should cash flow with no problem nbspNow what do you do with the cash out from the refinance that you just received No you donrsquot buy a new car go to Vegas or anything like thatnbsp You simply pay off a credit card installment loan your car your equity line etc You can buy real estate and get cash to pay off your personal bills and increase your cash flow from the rents at the same time If the property you just bought and refinanced has a 200 cash flow but you also used the cash out to pay off your car that has a 300 payment how much did you really increase your cash flow 500 Every time that you buy a property think about what bill you will soon be able to pay off Once you have all of your consumer debt paid off then you start paying off your home that you live in Once your home is paid for then you go to your banker and get a line of credit on your home to use to buy and rehab properties Then you simply refinance once the work is done and pay off the line It is much easier to negotiate with a seller when you can simply write a check to purchase their property Then when you ask a seller the least they will take if they can have a check by Friday you can back it upnbsp Sure it may take some time to get to this point but once you have become debt free with the exception of rental property of course it opens up so many options for you to do things that you have never been able to do Not to mention the peace of mind nbspWe have a property analysis form that we use to determine if a deal will fit into this plan The form even shows the cash flow cash out and equity gained by purchasing each property If you would like a copy please visit the ldquoFreebiesrdquo section of wwwlarrygoinscom nbspI hope you have enjoyed this article For more articles on real estate investing to sign up for our free newsletter and listen to free weekly training teleconferences please visit my website at wwwLarryGoinscom where you will also find free forms documents EBooks Downloads and more Also visit wwwFinancialHelpServicescom for investor financingnbsp Thank You Larry Goinshttp://www.mypocketdeals.com/detailnews/id/7/homebuyers_will_find_phenomenal_deals_in_todays_real_estate_market.html2009-01-23 10:07:41It is not a secret to anyone that todayrsquos real estate market has created amazing values for homebuyers This market without a doubt offers a tremendous opportunity to a first time home buyer to create equity with none of your own money Todayrsquos homebuyers donrsquot have to look too hard to find great deals Anywhere you look you will find sellers of distressed properties nbspWith little creativity and 3 to 4 months time investment you can create 20000 50000 even 100000 or more in equity How lsquoFixer uppersrsquo aka lsquohandyman specialsrsquo No you donrsquot need to be a handyman you just need to hire onenbsp nbspFind a fixer upper in the area you want to own a home There are a number of ways you can do it Ask your realtor to search on Multiple Listings System for lsquocorporate ownedrsquo andor lsquobank ownedrsquo properties Do a Google search for lsquoReal Estate Ownedrsquo or lsquoREOrsquo this will give you a list of websites where you can find bank owned properties These are the terms that lenders use to describe properties that they repossessed though foreclosure and they are more than egger to get rid of them Also itrsquos a good idea to scan through your local classifieds for ads that contain one of the following lsquomotivated sellersrsquo lsquohandyman specialrsquo lsquoneeds TLCrsquo nbspGet a repair estimate and asses the after repair value of the property All you have to do to get repair estimate is find a few contractors who will give their estimate of the work you want to get done Get at least 3 solid estimates In order to find out what the After Repair Value of the home will be simply look at what price properties comparable to yours are sold in the half a mile radius in the last 3 to 6 months If you really get you mind set on a particular home and seriously considering the purchase you can hire an appraiser Make an offer on the property and in the contract include clause saying that if an appraisal contingent on the repairs you are planning to complete comes in at less than what you are estimated you can walk away from the deal without any penalties nbspWhen looking at houses look for what it can be not at what it is right now nbspYou will see properties that look a lot scarier than what they really are Donrsquot over spend focus on the things that will add most value to your new home Kitchen and bathroom updates should be the biggest part of your repair budget If space permits you can add a bedroom or a bathroom Remember our goal is to create as much equity as possible so budget for renovations that will give you the most bang for your bucknbspMake an offer and close the deal One definite advantage you have working for you is the property itself Use the short comings of the house as your negotiating ammo At this point you have at least 3 estimates from licensed contractor and you should do home inspection This will protect you from unpleasant surprises in the futurenbspFind and close on financing for your project You have a few couple of chooses First ndash hard money lenders Once you start your research you will find out a few scary things for example high closing costs and high interest However the advantages way outweigh the cons Your closing costs and six months of payments can be rolled into the loan which gives you enough time to complete the project and refinance with a convectional lender You can finance up to 100 of the purchase price and repair costs Hard money loans are short-term loans with balloon payment usually in 12 to 18 months Donrsquot let it scare you if you are diligent and stay on top of your project you will be enjoying your new home way before the balloon payment is due nbspSecond option is a private loan You might know someone who will be willing to lend you money to complete your project in return for higher interest rate than what they are getting on CDs or stock market You will offer then 1st lien on your property and refinance out of their loan in 6 to 8 months or earlier This is a great alternative to hard money loans You can negotiate low or none closing costs and lower interest ratenbspComplete your rehab At this stage you have to be focusednbsp Monitor your contractors Always check on the work that is claimed to be completed before you pay them And one rule that can not be broken and I can not stress it enough DO NOT prepay your contractorsnbsp If you want to complete your project on time and within your budget and donrsquot want to get screwed out of your hard earned do not prepay for any work Donrsquot let anyone convince you otherwise This one mistake can break your whole venture and leave you with a huge debt and nothing to show for it nbspRefinance with conventional lender As soon as your repairs completed start applying for refinancingnbsp At this stage you will have to do second appraisal of the property This will be lsquoas is appraisalrsquo to determine what the current value of the house is If you did your homework at the beginning of your project and your initial estimates were correct by now you have created enough equity to refinance out of your hard money loan In some cases you might be even able to walk away with cash from the closing table to buy some nice furniture for your newly remodeled home nbspWhy go through all this trouble You can have a newly remodeled home completely customized to your own taste and needs for a total cost of 70 cents on dollar or less compared to the property values in your area nbspnbspnbspnbsp