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 Banks across America are mounting a hiring surge right now. Why? They are gearing up for what lies ahead…more defaults, more short sales and more foreclosures. Collectively, the big 4, including Bank of America, Chase, Wells Fargo and Citi have recently added over 17,000 new employees to their payroll to help manage the volume of loan modification and short sale requests as well as the disposal of foreclosures. And the most ambitious are those that have a large number of Alt-A (Interest Only and Option ARM) loans. Wachovia, for example, is loaded with these loan products. They were recently acquired by Wells Fargo so now it’s Wells Fargo’s responsibility to deal with the mess that is going to be hitting them this summer when many of these Alt-A loans begin re-casting to fully amortized loans.
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Filed under Foreclosures, Preforeclosures, Short Sales, Bank of America, Chase, Citibank, marketing strategy, Wells Fargo.
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The Urban Land Institute recently released some important research as it relates to major changes in the U.S. housing market. What impact will, as the ULI notes, have on your investments or investment portfolio, if: 1) home appreciation slows considerably to about 1 percent to 2 percent annually, 2) the current U.S. homeownership rate, now at 67 percent (which is down from a record high of 69 percent), will fall further to about 62 percent.
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Filed under Marketing, bank foreclosures, commercial real estate investment business, distressed homes, foreclosure market, investing business, investor opportunities, real estate expectations, real estate technique.
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In becoming the best apartment investor you can become in 2010, it involves a process. And becoming wealthy in apartment investing involves a personal self-development, character-building journey. My mentor, the late Jim Rohn, teaches that “your income will never exceed your personal development”. How true that has turned out for me and now true in the life of my 22-yr old son. It’s a process that you can’t avoid unless you quit. You, my friend, are on a process to go from a novice investor to a masterful investor.
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Filed under Apartments, Commercial, Marketing, apartment investing, apartment investors, marketing strategy, real estate investing, real estate investor.
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Here’s the question…Can you “really” do all the rehab work on your project put more money in your pocket? This is a question frequently pondered by new investors…and not so new also…as they look at how they can cut the costs of contractors by simply applying the “do it yourself ” philosophy to rehabbing. It is important to consider the “real” cost of this approach as you consider entering into your rehab project.
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Filed under Landlording, Marketing, Rehabbing, Wholesaling, construction traffic jam, cosmetic repairs, HVAC, investor funding, new investors, rehab project, rehab work, reputable contractors.
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HUD announced Friday that the 90 day title seasoning requirement on FHA, Fannie Mae and Freddie Mac loans will be waived beginning February 1, 2010 for one year. This is the greatest news to hit the real estate investing world in the past 20 years.
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Filed under Foreclosures, Preforeclosures, Short Sales, Fannie Mae, FHA, Freddie Mac, FSBO, HUD, MLS, real esate investing, title seasoning.
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For 100+ years they have maintained a marketplace for us to buy, own and transfer real estate; protected our property ownership rights, and have helped build better relationships with the communities in which they live and work – kudos to the REALTOR Association on all three levels.
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Filed under Marketing, commercial realtors, investment strategy, NAR, pending home sales, real estate agents, real estate entrepeneur, real estate expectations, real estate investors, real estate market, real estate portfolio, real estate strategies, REBAC.
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Too many of us seem to think that just by being in the commercial real estate investment business, we will somehow get customers and tenants. You know, that if we just “hang around enough” we should start getting some business, especially from friends or family. Many times we do not stop to think of everything that is involved in having people commit to doing business with us.
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Filed under Apartments, Commercial, Marketing, commercial investors, commercial real estate, commercial real estate investment business, homes for lease, marketing strategy, real estate investors, renter friendly apartments, USP.
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