DC Fawcett – Tips To Start Real Estate Without Money

DC Fawcett Virtual Real Estate Investing club

Are you interested in starting a real estate investment company despite no cash, bad or poor credit score?  If your answer is yes, the doors are open for you. What are you waiting for? Just grab or avail the opportunities wherein you can get financial assistance to establish yourself and free yourself from all the debts. DC Fawcett gives you some tips to start your real estate investment business without any investment.

Tips to start real estate investment without money

If you have huge debts to repay or facing the foreclosure, there is nothing to worry as there are plenty of options to start your real estate investment business. If your credit score is awful, it isn’t the end of the world. You can still avail loans from some of the sources. Here are the tips.

1. Hard/Private Money Lenders

   If the banks don’t approve your loan application, owing to your poor credit score, you can resort to hard or private money lenders who can help you. There are certain criteria for loan approval in this option. The fees and the interest rates may be high.

2. Wholesaling

   You need not have a high credit score or large amount of money down. Real estate wholesaling consists of finding discounted properties that are given to the prospective and potential buyer who is getting paid to do that.

3. Home Equity

   This is another option for the investors who have no upfront money. It is an added advantage as the property value has gone up recently. The investor has two options to avail finance.
   Rewrite the first mortgage and opt for a reverse mortgage.Keep the first loan aside and add a home equity line of credit.

4. Seller Financing

   With this type of financing, the investor directly deals with the seller or the homeowner and sign an agreement that states about the due date of paying the interest and the consequences of default that has been agreed.

5. Borrow money from family or friends

   If you have little or no money, but are from a well-to-do family or friends, you can borrow from them with an assurance of paying them back. You can do this by writing a promissory note with payment dates and the rate of interest. You need to take certain factors into consideration before approaching them such as your relationship with them and how it will get affected if you are unable to repay them.

Conclusion

Understanding your credit score is more important if you wish to avail for further loans. Your loan approval depends on the credit score you have.

How To Keep Safe From Real Estate Scams And Fraud -DC Fawcett

One cannot afford to be gullible in case of a real estate transaction. The con artists are also former real estate professionals who make use of the real estate procedure.

Here are some warning signals for you to safeguard with regard to real estate scams. You can be judicious while you are dealing with purchasing, renting or selling any property.

• You should never carry out the deal in a fast manner. It may be a very good deal and you want to grab it, but you have to ask questions. If you are a renter you should get inside the property rather than seeing the house just from outside.
• Some former real estate agents may be so convincing that you won’t believe that they are con artists. They will have a page in business to business social media platforms like LinkedIn and it would give outdated info or wrong info that the victim believes to be correct. There are also unlicensed professionals who are still in the process of selling properties. So it’s wise that you ask for the license of the agent.

• Some sellers will consciously sell off properties that have issues. But they will give a picture as though the property is seamless. So it’s prudent to pose as many questions about the property including the reason for selling off the property etc.
• Be sure of what you are involving yourself into. The key is to carry out the homework and get a professional and legitimate real estate agent to help you in the whole procedure. You can get property details through a title company. This helps you to cognize who is adhering to law in case of owning real estate.
• You may have a feeling that there is something wrong but you would not have paid heed to your gut feeling. So the key is you should not ignore your gut feeling. There are some real estate agents who make the home buyers to give false details so that the loan application looks good. You may get the deal across but that implies that you also got involved in the fraud. So it’s good to say a big no to a transaction if you are not comfortable with it.

• One has to be extra careful in case of scams related to rentals. This is due to the reason that this is the only fraud where the attorney is not involved. In case of purchasing houses it’s a different case. Banks are extra careful that you don’t involve in a purchase deal where you are not the owner of the property.

When you have a partner these are the suggestions to stay away from real estate scams:

• Partnering is good when you have dependable partners in lucrative markets.
• You can put forth some prudent questions to your partner including the reason for the deal being good, how can you be safeguarded from the partner going away with your money etc.
• If a person offers a deal ask your real estate attorney to analyze it carefully.

  Be cautious of the foreclosure scams

  As bad luck would have it, there are a huge amount of fraudulent companies which claim to come to your aid when there are imminent foreclosures.  These companies wait to lay the bait for you and cheat you.  These companies call themselves as the consultants with regard to foreclosure and as the foreclosure specialists.  Before choosing any of these fraudulent outfits, check out the credentials and business credibility through sources as the US Department of Housing and Urban Development.
  One has to know how the foreclosure scam specialists get to know him.  They usually find it in the foreclosure listing in the local newspaper.  Very soon, call start pouring in trying to deceive you into a deal.
  There are various methods adapted by the fraudulent companies to cheat homeowners.  The tricks that they adapt are
  • Equity Skimming
  • Equity Stripping
  • Fishy Counseling Agencies
  • Lender Scams
  • Fishy Loan Transaction
  • Internet and Phone Scams
  
  
  Foreclosure is a very serious issue.  If sufficient care is not immediately taken, you may lose your home and your credit score is also damaged.  One has to have complete knowledge regarding the foreclosure and find out the exact mortgage assistance companies that pull you out of the difficulty.  When proper attention is not paid to the difficulty, fraudulent foreclosure companies will start laying the bait.  Next to your family, your home is the valuable property that you retain.  One should not allow fishy companies to take him for a ride.

Conclusion

One must always be cautious of scams as they result in heavy losses. These tips above, by DC Fawcett will surely help in identifying and avoiding scams.

Tricks Employed By Real Estate Agent - Dc Fawcett

 

DC Fawcett Real Estate

Real estate agents play a major role when you are buying, selling, renting or leasing the property. They create an impact on the buyers to take a financial decision. They are the ones who give you the guidance for trading with the property. They use many tricks to get the deal finalized. DCFawcett tells you the tricks they use.

Tricks Employed by Real Estate Agent

The real estate agents use many tricks to close the deal as early as possible. Auctions and sales are very much at the peak during the spring season across the country. The sellers reap the maximum benefit in this season as the housing prices increase rapidly. Whatever it is price, the buyers buy the property though they get the feeling that they have been overcharged. If you are a beginner in this field, you need to be wise about the common real estate tricks. However, the agents can also change their tricks once they know you are wise. In such cases, you need to know about the market in depth so you avoid getting manipulated. Here are the tactics or the tricks the real estate 

1.       Getting tricked into paying advance fees – Real estate agents can request the advance fees from the sellers for flipping or renting the property. In this domain, it is termed as upfront fees which are used in the name of special advertising which must be ordered well in advance. Avoid paying money before they start their work. If possible, you may also have to negotiate the fee arrangement you wish to make.

2.       Unrealistic selling price for a home – The real estate agents, who assure the seller about the unrealistic price they can get for their home through the listing, means they are tempting them to take a hasty decision to go for it. They know very well this is what the sellers would like to hear. However, these words sound too good to be true. After a month or two, the agents say that market has gone down so the price needs to be reduced. However, that month is very much critical as there can be a drop down in the price if the sale is not made quickly. So you should not give the exact price in the beginning.

3.       Selective disclosure – You need to keep a watch on those real estate agents who avoid full disclosure about the property. There are the possibilities that the real owners might have been killed and the property has been illegally occupied, which may put you in trouble after you buy that property. You must ensure that the agents give a full disclosure about the property. You need to insist them to give the same commitment in black and white.

4.       Double ending deals and pocketing offers – This is another trick that real estate agents use. In this strategy, they charge double commissions by bringing the buyers of their own. This is fine as long as the seller does not have to share their commission with other agents. However, in most of the cases, the real estate agents representing sellers who have buyers might conceal the inquiries you get, offers or counteroffers from other agent’s buyer to safeguard their interests.

Conclusion

Hiring a real estate agent should be made like a job application and the interview. The real estate agents should be treated like a candidate to ensure that the person whom you hire should be honest and competent.