Local Attorney Plans to Beat Market with Owner Financing
As many of my business dealings are across the country as a note broker and consultant, I really enjoy the opportunity to network with local sellers and real estate professionals when I get the chance. There’s a real estate broker in Whittier that runs a traditional sales business, but also runs a tightly knit real [...]
Avoid the 7 Deadly Mistakes Sellers Make When They Carry Paper (VII of VII)
Deadly Mistake #7: Don’t keep a careful accounting of the note payments you receive Let’s pretend that you have a nice juicy note you’re trying to sell . . . you got a 20% down payment from a buyer who had a 700 FICO, the loan amount was $100,000 at 12% interest. Fully amortized over [...]
Avoid the 7 Deadly Mistakes Sellers Make When They Carry Paper (VI of VII)
Deadly Mistake #6: Fail to include a provision for late payments and a due on sale clause in your note. A couple I talked to recently had a one year old note that they were trying to sell. Not only were the terms of the note difficult to understand, but it failed to include a [...]
Avoid the 7 Deadly Mistakes Sellers Make When They Carry Paper (V of VII)
Deadly Mistake #5: Create a short-term balloon Because of the Time Value of Money (TVM), which says that money to be received sooner is more valuable than money to be received later, it can seem like putting in a 5 year balloon is a good thing. No need to wait 30 long years for payoff, [...]
Avoid the 7 Deadly Mistakes Sellers Make When They Carry Paper (IV of VII)
Deadly Mistake #4: Make the interest rate on the note nice and low It’s tempting to offer a low interest rate to entice a buyer to give you a fat, juicy price for your property. It’s OK if that gets the job done and you’re happy with it, but you just have to know that [...]
Lack of Financing #1 Barrier to Recovery
According to a poll released recently by LoopNet, an online commercial real estate marketplace, 46% of commercial real estate professionals say the commercial RE market will not rebound until 2011. Fifty-three percent (53%) expect further price declines of 11% or more. “Lack of access to debt financing” was the No. 1 cited barrier to recovery. [...]
Zap the Garden with Winter Color, Texture, Structure
Dear Garden Gal, I want to spruce up a couple of areas around the garden but I’m avoiding too much planting in flower beds to conserve water. Can you recommend a few plants or techniques for injecting some winter color without wasting water, money and time? – Beth S. Sierra Madre, CA Dear Beth, [...]
Deadly Mistake #4: Make the Interest Rate on the Note Nice and Low
It’s tempting to offer a low interest rate to entice a buyer to give you a fat, juicy price for your property. It’s OK if that gets the job done and you’re happy with it, but you just have to know that you’re writing in the discount you will ultimately take on your note. Don’t [...]
How to Hire (And Work With) a Designer
If you’ve ever done your own design project, you know that it can easily become frustrating, leaving you collapsed in a heap of catalogs, fabric swatches and paint samples. Whether you are mired in fabric choices and furniture selection, don’t know any vendors, or can’t stick to your budget, a design project can be a [...]
Marles, Duggan Lead September Sales at Century 21 Village
Veteran real estate sales associates Nathalie Marles & Emily Duggan were recently congratulated by Andy Bencosme, Managing Broker of Century 21 Village Realty in Sierra Madre for leading the office in home sales for the first half of September. Marles finished the period with just under 2 million dollars in sales. “2008 was a very [...]
