Real Estate Information

Luxury Real Estate Information


Rancho Palos Verdes, California Homes
Palos Verdes, California Homes
South Bay, California Homes
Luxury Mexican Beachfront Homes

Featured Properties


Oceanfront Estate Near Trump National

Related Information


Loan Information
Real Estate Information
Mortgage Refinance Information

Conventional Financing For Wholesale Deals


This info is very important for both new and experienced wholesalers, AND buyers of fixer-uppers, to carefully read and understand. We learned it painfully, hopefully you won't have to :-)

Often times we are asked by investors about using conventional financing for their investor deals. In other words, they want to go through a bank or other similar lending institution to purchase a fixer-upper from us, or another wholesaler. The obvious advantage is that rates are cheaper, and the loan origination fees (many times referred to as "points") are both much less than "hard money" (loans from individuals or small institutions specifically for investor type properties, with rates ranging from 5 points and 15% interest to 10 points and 18% interest). There are, however, some obstacles to using conventional financing of which you must be aware.

First of all, these banking institutions will only loan on inhabitable, decent condition property. So if the property you are considering needs major repairs, forget this type of financing for the most part. Next is how you have structured the deal. Because of all of the recent frauds cases where banks have been burned, we have been unable to locate any conventional lenders willing to loan on a deal that has been "assigned" from the Buyer listed on the Purchase and Sales Agreement to a third party. They require that the Borrower be the Buyer named in the Agreement. And they absolutely will not fund the Assignment Fee.

You can get around this if you can live with either of these solutions:

1. The wholesaler re-writes the Agreement with the Seller listing the new Borrower as the Buyer. This solves the paperwork issue. The Buyer will still have to fund the Assignment fee with some other source of funds. The wholesaler in this scenario is not protected because none of the paperwork demonstrates his right to purchase the property, nor the assignment fee to be paid. A separate agreement would have to be established with all of the parties. You see how this can get very complicated and cumbersome. By the way, even if you have a cooperative Seller you can not just list the inflated price (original sales price plus Assignment Fee) on the Agreement with a stipulation that the Assignment Fee portion will be paid to the "Wholesaler" at closing, because then the wholesaler's fee will show up on the Seller's side of the Settlement Statement appearing as if he acted as a Real Estate Agent. Note: This may be OK if the "Wholesaler" is in fact an agent. They'd need to check with their Broker.

2. The wholesaler must become the owner of the property and in the chain of title. Then he can legitimately write an Agreement with the Buyer listing the full price of the property including the assignment fee. The wholesaler can accomplish this with a cooperative Seller using short term Seller financing, "subject to" financing, or a short term bridge loan from a home equity line or private lender (usually friend or family). As long as the loan-to-value (LTV) still fits their requirements, the banks will loan on the new purchase price - thus funding the assignment fee.

The other item to keep in mind when considering conventional financing is that it is relatively slow. Many mortgage brokers will tell you that their loans will be ready to close within 10 days to 2 weeks from submission. The reality is that they can only guarantee that they will process the loan and get it to a lender within a short period of time. With the current rush for refinances, most lenders' underwriting departments are backlogged - and applications can get stuck there for a week or more. They will also issue conditions that must be met, then submitted back to underwriting for final approval. Then add another couple of days for the loan package to be prepared and sent to the attorney.

To be safe, you should count on three weeks to a month for a loan to close. If it closes sooner, you'll be pleasantly surprised. If the deal doesn't allow for that much time, you may want to consider alternative funding sources so you don't lose it all because time has run out and the loan isn't ready.

Conventional financing does have a place in wholesale deals. We've closed several ourselves - but it doesn't work in all cases. You need to understand the process, and what will fly, and what will just kill the deal.

Best of success & abundance,

Lou Castillo

FREE! Real Estate Investing Secrets To Earning $100,000 Your 1st Year! -- 11 Overlooked Real Estate Statregies That Will Turn Your Investing Business upside Down And On The Fast Track TO Success...Guranteed! Plus A Bonus Track With A Secret So Successful It Can Double Your Investing Income Overnight!

http://www.InvestorSuccessTactics.com


MORE RESOURCES:
Housing market is tipping in favor of buyers, real-estate agents say  MarketWatch

Real-estate agents around the country weigh in on what they're seeing in their areas, and some broad national trends are emerging.


A Growing Problem in Real Estate: Too Many Too Big Houses  The Wall Street Journal

Baby boomers and retirees built large, elaborate dream homes across the Sunbelt—only to find that few people want to buy them.


Direct-To-Seller Outreach: How To Find Real Estate Deals In A Competitive Market  Forbes

The most common complaint I hear among both new and experienced real estate investors is that there are no deals in their market. It doesn't matter where their ...


Google NYC Real Estate Head On Why It Has Succeeded Where Amazon Flopped  Bisnow

Google's New York real estate chief says partnerships — with the community and elected officials — is the key to expanding in cities.


Are real estate agents obsolete?  Inman.com

Many consumers don't trust real estate agents and will always be on the hunt for ways to buy and sell without our help. If we don't seize every opportunity we ...


Compensation for Corporate Real Estate Professionals Jumps  GlobeSt.com

In a recent survey of corporate real estate executives at corporations globally, 87% reported that their base salary increased from 2017 to 2018, by an average of ...


Real Estate – March 21  Greenfield Daily Reporter

The following real estate transfers were recorded recently in the Hancock County Recorder's Office:Feb. 15Patrick A. Holliday to Dalton J. Bragg, 8748 N. County ...


Green New Deal and Tahoe real estate  Tahoe Daily Tribune

There has been a lot of media coverage about the Green New Deal (GND) and we would be negligent if we didn't discuss the potential impacts on Lake Tahoe.


February Real Estate Statistics  Lansing State Journal

The market started showing signs of waking up from the winter hibernation according to data compiled by the Greater Lansing Association of REALTORS®.


Zillow, Opendoor, and ‘iBuyers’ are changing real estate transactions  Curbed

Algorithm-powered home-flipping platforms have sparked a race to become the one-stop shop for all things real estate.


Boston Councilors Eye Real Estate Transfer Tax To Boost Affordable Housing  WBUR

Boston city councilors have introduced a new transfer tax on property sales — a funding source they say would raise hundreds of millions each year to boost the ...


Ask a real estate pro: Don't be a victim; protect yourself when buying or selling property  Sun Sentinel

Real estate lawyer Gary Singer writes: Financial crime and fraud are a problem in the real estate industry. Criminals can be very creative in separating you from ...


Real Estate Transfers: March 21, 2019  Riverhead News Review

Listings prepared for Times Review Media Group by Suffolk Research *Service*, dated Jan. 21-27, 2019.


Exclusive: KKR raising first Asia real estate fund, targeting $1.5 billion - sources  Reuters

HONG KONG (Reuters) - Global investment powerhouse KKR & Co Inc is raising its first Asia-focused real estate fund, targeting $1.5 billion as it looks to deepen ...


Negotiation Tactics From Some Of The Best Real Estate Masterminds In The Business  Forbes

A forthcoming book, Real Estate Titans: 7 Key Lessons from the World's Top Real Estate Investors by Erez Cohen, has eleven in-depth interviews with some of ...


Five major real estate firms face far-reaching antitrust lawsuit  Washington Post

In what could be the most far-reaching antitrust lawsuit for the real estate market in decades, the National Association of Realtors and four of the largest realty ...


Watch an Entire Real Estate Concert from This Day in 2009 :: Music :: Features :: Real Estate :: Paste  Paste Magazine

Real Estate have been the reigning kings of guitar-pop in indie rock for about a decade now. And it just so happens that 10 years ago on this day (March 21), ...


ERA Real Estate Recognizes ERA American Real Estate As 2018 Circle of Light for Community Leadership Award Winner  PRNewswire

MADISON, N.J., March 21, 2019 /PRNewswire/ -- ERA Real Estate, a leading global real estate franchisor, recently recognized ERA American Real Estate, ...


Major real estate firms face antitrust suit  Springfield Business Journal

The National Association of Realtors and four large real estate firms are facing a far-reaching antitrust lawsuit. A class-action suit alleges home buyers are ...


Real Estate Fresh Finds: March 20  PoPville

Real Estate *Fresh* Finds is a weekly selection of newly-listed properties in the District, brought to you by Real Living At Home. Featured Property of the Week: ...


Scared of Stocks? Buy a House Instead  Bloomberg

Real estate may be a better — and safer — investment than I thought. This is my conclusion after reading a comprehensive study published this month titled, ...


Worcester County real estate transactions: March 17, 2019  Worcester Telegram

Athol$350000, 321 Main St, Athol FT, and Mohaghegh, Hamid, to Bell, Keith.$190000, 400 Lenox St, Rasch, Joshua A, and Cartee, Gabrielle, to Manjourea, ...


Stocks ease off session highs; tech, real estate lead the climb  Seeking Alpha

The three major U.S. stock averages ease off their session highs in noon-hour trading. Among the catalysts for the market's upward path: February leading i.


Recent Commercial Real Estate Transactions  The New York Times

A luxury women's fashion brand, 8th Story, plans to open a showroom at 231 West 39th Street in Manhattan's garment district.CreditCreditAdams & Co. By Zach ...


Real estate brokerage adding Southside outpost  RichmondBizSense

SRMF will open its third location at 9004 W. Huguenot Road in the Stony Point Shopping Center. (Photos by Jonathan Spiers). The SRMF boys must have a ...


Tax on high-end real estate sales could generate hundreds of millions for Boston  The Boston Globe

A tax on sales of high-dollar real estate in Boston would generate an enormous amount of money for affordable housing, but could dampen the city's real estate ...


5 real estate pros who rock social media (and how you can too)  Inman.com

If you're a real estate pro looking to build a respectable, fun, friendly and professional social media reputation then take a page from the books of these five real ...


Deputy Chief Of Bulgaria's Ruling Party Faces Probe In Real Estate Scandal  RadioFreeEurope/RadioLiberty

The Bulgarian Prosecutor-General's Office says it is launching an investigation into a real estate deal by the deputy chairman of the ruling GERB party as a result ...


Zephyr Real Estate-Marin Agents Host 2nd Women Building Wealth in Real Estate Workshop  GlobeNewswire

SAN FRANCISCO, March 21, 2019 (GLOBE NEWSWIRE) -- M. J. Koontz and Sandra Luna, investment real estate agents at Zephyr Real Estate in Marin, are ...


Reston Real Estate: Just Listed  Reston Now

Reston has 171 properties on the market, which remains stubbornly price sensitive. This weeks Just Listed has some of the newest listings in Reston.


Daniel Radmanovic Joins DiLillo Real Estate  Bethel, CT Patch

Daniel Radmanovic Joins DiLillo Real Estate - Bethel, CT - DiLillo Real Estate is proud to announce the newest member of its growing Bethel-based agency.


Real Estate Assessment Center: HUD Should Improve Physical Inspection Process and Oversight of Inspectors  Government Accountability Office

HUD provides financial assistance to ensure that affordable rental housing is available for more than 2 million low- and moderate-income households.


House Hunting in … St. Lucia  The New York Times

Bad weather and shaky economies in other parts of the world have conspired to hold down prices and demand on this island nation.


Rethinking Real Estate: The Big Case For Small Residential  Forbes

Why doesn't the small residential industry garner more attention from the media, the public and even the real estate industry?


Real Estate News  Hamptons Independents

Fingleton Joins Elliman Team. Douglas Elliman announced that Jessica Fingleton has joined its East Hampton office. An East End local for the past 18 years, ...


[Pulse] Here's how real estate agents and mortgage LOs can generate business through social selling  HousingWire

Social Selling is one of those buzzwords that everyone seems to be talking about these days, but few truly understand what it is. Some think it's selling your ...


Real real estate sayings | Columns  The Laconia Daily Sun

There were 64 single-family homes sold in the Lakes Region communities covered by this report. The average sales price came in at $478862 and the median ...


How Do Analysts See Ares Commercial Real Estate Corporation (NYSE:ACRE) Performing In The Years Ahead?  Simply Wall St

In December 2018, Ares Commercial Real Estate Corporation (NYSE:ACRE) released its most recent earnings announcement, which indicated that the ...


Real estate firms accused of 'conspiring' to overcharge home sellers in class-action suit  Fox Business

The suit alleges anti-competitive practices that have resulted in artificially high commission levels.


Ojo Labs raises $45 million to develop a chatbot for real estate  VentureBeat

Ojo Labs, an Austin-based company developing a real estate chatbot aimed at digital native homebuyers, announced it has raised $45 million in funding.


Real estate agent rapes woman looking to relocate from China to Florida  New York Daily News

A Chinese woman who was house hunting with the idea of relocating was raped by a rogue real estate agent who said police would believe him over her.


Billions in Toronto Real Estate Bought Anonymously, with Funds of Unknown Origin  WOLF STREET

Looking to launder some cash? You might want to head over to Toronto, and use the real estate. A new Transparency International Canada (TI Canada) report ...


Bay Area's largest real-estate firm? It's a New York startup  Palo Alto Online

Compass, the venture-funded real-estate startup that launched its first office in the local market just over two years ago, became the Bay Area's largest ...


Five Trends That Will Impact Real Estate Investing This Year  Forbes

A disciplined approach to real estate investing can uncover opportunities that lead to outperformance with less risk.


Mark Pruner to Speak at RMA: The Greenwich Real Estate Market, Trends Impacting Prices  Greenwich Free Press

The Greenwich real estate market is a $1.4 billion market that shapes much of life in Greenwich. We have more high-end houses than the rest of the state ...


Accomack delinquent real estate list to appear on County website  Shore Daily News

A list of all who owe delinquent taxes payments to Accomack County will be published on the County's website. The list is being certified by the Treasurer.


Opendoor’s valuation hits $3.8B with latest funding round  The Real Deal

The iBuyer startup Opendoor has raised $300 million, bringing its valuation up to $3.8 billion.


“The system is broken.” Real estate world clashes with NYC politicians at rent regulation panel  The Real Deal

In the next two weeks, state lawmakers are expected to pass the most sweeping rent regulation reform package in decades. It has the city's real estate industry ...


Interested in real estate? Listen to these 6 podcasts  AZ Big Media

Whether you're a first-time home buyer, real estate agent or seasoned investor, purchasing a home or piece of land is the largest purchase you'll ever make.


Commercial Real Estate Faces Cap On Interest Expense  Bisnow

The IRS has tightened its policy on interest expense, and commercial real estate is already feeling the crunch. As part of the 2017 Tax Cuts and Jobs Act, CRE ...


As pied-à-terre tax gains steam, NYC real estate industry pushes back  Curbed NY

As the deadline for a new state budget looms in Albany, one formerly stalled piece of legislation—the pied-à-terre tax, to be levied on second homes in NYC ...


Demand for Petaluma commercial real estate outpaces supply  North Bay Business Journal

Companies and people want to move to Petaluma, and Petaluma wants to house them. Office space demand will remain flat this year, and industrial demand ...


Class action suit could change real-estate commissions  Miami Herald

In what could be the most far-reaching antitrust lawsuit for the real estate market in decades, the National Association of Realtors and four of the largest realty ...


Police: Real estate agent raped woman who was house hunting  Minneapolis Star Tribune

Police have arrested a real estate agent who they say raped a woman who came from China to look at houses in Florida last year.


A Real Estate Game Changer – GeekWire Events Calendar  GeekWire

A multi-year, multi-billion-dollar transformation of Seattle's waterfront is triggering a residential revival along the two-mile stretch that—until recently—was best ...


How to Avoid the Next Real Estate Downturn  The New York Times

Property investments have long been associated with wealth creation. In a recession, though, they can be risky for owners who need to sell.


Real Estate Insider: Emagine affiliate sells Detroit property | Hudson's project design still ongoing | CoStar Power Broker awards  Crain's Detroit Business

Detroit's Emagine Entertainment Inc. theater will not be located in the Milwaukee Junction neighborhood after all. That's because I'm told by a source familiar ...


Dallas Mayoral Candidates Address the Real Estate Community  D Magazine

The Real Estate Council is the latest organization to welcome the city's mayoral candidates to address their corner of Dallas. Onstage at Gilley's Monday night ...


A Closer Look at Digital Twin Technology for CRE  National Real Estate Investor

A new Digital Twin technology offers commercial real estate developers and owners a powerful data tool that can expedite project construction, provide asset ...


Home & Garden TV with Alexander Sifakis from JWB Real Estate Capital  iwantabuzz.com

Home & Garden TV with Wally Conway brings viewers first-rate insight, advice and tips on home improvement. Today, Wally talks to Alex Sifakis.


Under plan, city real estate tax rate would be unchanged  The Daily Progress

City staff have identified $850000 in proposed savings by eliminating a planned increase in the transfer from the general fund to debt *service* fund.


Real Estate Transfers For March 14-20  The Chattanoogan

NOTICE: The Hamilton County Register's Office did not publish this data. All information in the Register's Office is public information as set out in T.C.A. 10-7-503 ...


Plan to triple real estate transfer tax gets big backing  Crain's Chicago Business

A major Chicago civic group is endorsing a proposal to move to a graduated rate of up to 3.3 percent that would apply not just to "mansions" but commercial ...


Facebook Ad Changes: How Will They Affect Real Estate Agents? |  RisMedia.com

Facebook is again amending its marketing program. What does this mean for real estate?


Be A 1-Click Landlord: 3 Real Estate Stocks Paying Up To 7%  Forbes

The three lodging REITs we'll discuss here yield between 4% and 7%.


Hopkinton real estate transfers from March 6 to 12  Concord Monitor

Hopkinton real estate transfers from March 6 to 12.Amesbury Road; $45000; Shirley M. Morash to Northeast Builders Inc.144 Brookwood Lane; land and ...


San Francisco real estate and the IPO frenzy of Uber, Airbnb and Slack  Curbed

Marco Carvajal, a long-time real estate agent with Vanguard Properties, says the city's upcoming frenzy of initial public offerings (IPOs) has become an everyday ...


Chicago's JLL acquiring Dallas real estate firm HFF in $2 billion deal  Chicago Tribune

Commercial property company Jones Lang LaSalle is buying Dallas' HFF, one of the country's biggest investment property brokers and real estate finance firms.


Opinion: 'Close Rikers' Eschews Real Reform for a Real-Estate Drama  City Limits

Over the past two years there has been a steady drumbeat of op-eds about how terrible the city's jails and prisons on Rikers Island are and how great is the need ...


Suspect in death of real estate executive dies in apparent suicide  Bradenton Herald

Alejandro Aparicio, who was suspected of foul play in the death of his girlfriend Andrea Greenberg, died of an apparent suicide in a fiery head-on collision on ...


Zillow scores key win in long-running copyright battle with real estate photography company VHT  GeekWire

A federal appeals court largely sided with Zillow in a decision late last week involving a long-running copyright battle with real estate photography company VHT ...


Real Estate for the Afterlife  The New York Times

If the ever-soaring price of condos in New York City has your head spinning, wait until you shop for a cemetery plot. Prices for the last piece of real estate that ...


Real-Estate Industry Blasts ‘Pied-à-Terre’ Tax on High-Value Second Homes  Wall Street Journal

The real-estate industry is launching a frontal assault against a plan in Albany to impose a stiff annual tax on wealthy owners of part-time homes in New York ...


Cushman & Wakefield Real Estate Firm Starts Sports Advisory Group  SportsBusiness Daily

Chicago-based real estate company Cushman & Wakefield is launching a sports and entertainment advisory group in partnership with W Partners, the boutique ...


Risk Meets Real Estate in New Advisor Pilot  WealthManagement.com

Should independent financial advisors help clients invest directly in real estate? RealCrowd's REAllocate is on the cusp of launching an advisor-centric platform ...


Real Estate Brokers Who Do Not Offer Marketing Automation May Become Obsolete |  RisMedia.com

Brokers: Are you automating your marketing? If not, you could be outmoded quickly.


Updated Syracuse.com real estate sales includes $19 million medical building  Syracuse.com

Syracuse.com has updated its search of the latest residential and commercial real estate sales in Onondaga, Oswego, Cayuga and Madison counties.


Courteney Cox Returns to Her 'Friends' Apartment -- See the Real Estate Reunion!  Entertainment Tonight

Monica Geller is back at her old digs! Courteney Cox paid a visit to her old Friends apartment on Wednesday, taking to Instagram to joke that 15 years after the ...


Real Estate Newsmakers  SouthCoastToday.com

Aviles earns top producer honorsDarlene Alferes, president of Alferes Realty, announced that Roy Aviles is the agency's top producer for the month of February.


The Brownstoner Top Leaders in Brooklyn Real Estate, Architecture, Design and Development 2019  Brownstoner

Meet the top leaders in Brooklyn real estate, architecture, design and development. They will be honored at the RADD Awards.


Lebanon County real estate transfers for week of March 18  Lebanon Daily News

The following real estate transfers were recorded recently in Lebanon County: Lebanon. Goods Realty Investment LLC to Travis D. and Shari R. Good, 101 and ...


Real estate maven Mary Demetree shares her backstory - Orlando Business Journal  Orlando Business Journal

The workplace was rigid toward women in the 1980s and '90s — something this business executive knows about firsthand.


The next frontier in real estate technology  TechCrunch

From entertainment to transportation, technology has upended nearly every major industry — with one notable exception: real estate. Instead of disrupting the ...


Does NBG Pangaea Real Estate Investment Company (ATH:PANGAEA) Create Value For Shareholders?  Simply Wall St

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why ...


Tomkinson: Hudsonites weigh in on proposed real estate project at Main and Cameron  Montreal Gazette

Hudson utilizes the SCAOPI process for the first time in order to deal with a new residential-commercial building proposed to be built on Main St.


Real Estate Market Trends  Flathead Beacon

This chart shows the median sold price percentage of original list price for Flathead County single-family residence sales the past 14 months – by original list ...


Boatright wins coveted award for Outstanding Achievement in Real Estate Sales  Eatonton Messenger

PLEASE LOG IN FOR PREMIUM *CONTENT*. Our website requires visitors to log in to view the best local news. Not yet a subscriber? Subscribe today!


Erie County Real Estate Transactions  Buffalo News

Following are real estate transactions over $5000 as listed in records of the Erie County clerk's office for the week ending Feb. 15. ALDEN • 12906 Genesee…


Real estate mogul sues former business partner over 'hidden' money  New York Post

A real estate mogul who claimed his former business partner plotted to inject him with a psychedelic drugs has filed a new lawsuit that says the same man is...


Biggest Lender in Brazil Puts Distressed Real Estate Up for Sale  Bloomberg

Pedro Guimaraes had no time to revel in Brazil's wild Carnival celebrations this year.


Oklahoma City, Tulsa real estate transactions  Journal Record

These lists of real estate transactions appear in the March 22, 2019 print edition of The Journal Record.


Why Real Estate Investing Might Make You a Mint  The Motley Fool

At The Motley Fool, our primary investing focus is on individual stocks -- which we view as the most powerful tool out there for long-term wealth building.


Real Estate Briefs | Real Estate  Charleston Post Courier

Berkshire Hathaway HomeServices Carolina Sun (BHHS) Real Estate hires three new agents.


Real Estate Developers Are Now Designing With Instagram in Mind  Fortune

Designer Ryan Korban has always been devoted to Instagram. An influencer himself (with some 137,000 followers), the 34-year-old New School graduate ...


Vegas real estate broker who didn't pay income tax for 20 years convicted of tax fraud  News3LV

William Waller Jr. , a former real estate broker from Vegas, hasn't filed an income tax return since 1998, when he reported that he had made no income. Now ...


Inked: Recent LI real estate deals  Long Island Business News

The latest transactions in Long Island commercial real estate.


Hasenfus certified as real estate divorce specialist  Foster's Daily Democrat

DOVER — James Hasenfus of Keller Williams Coastal Realty has completed training and is now a certified real estate divorce specialist. A resident of Dover ...


The Bronx is getting a new affordable housing complex  The Real Deal

Mastermind Ltd is moving ahead with plans to bring an 11-story multifamily development to the Tremont section of the Bronx.


Fauquier County real estate transfers March 8-14  Fauquier Now

The Fauquier County Circuit Court clerk's office recorded these real estate transfers March 8-14, 2019.


Real estate hurts Dubai, ex-dividend stocks weigh on Qatar  Nasdaq

March 21- Dubai's stock market dropped on Thursday, weighed down by its property shares, while Qatar slipped as its heavyweight stocks traded.


home | site map
© 2006 TIGER MEDIA