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Redding California Real estate Article Summaries
Easing Your Way Into Homeownership: How Your Real Estate Agent Can Help You Qualify For A Low Down Payment Mortgage
By: W. Troy Swezey: For many renters, the first step in buying a home is becoming educated about the process. If you’re like many people ... interest rates edging up, innovative mortgage financing programs that require a low down payment are even more importan...
Investors - Look For The Real Estate Sweet Spots
By: Mark Walters: A politician once proclaimed, "All politics is local!" The same is true for real estate. If you live in Southern Calif... investing where home values are increasing by 1% to 3% per month. In Southern California there are at least 5 real esta...
Real Estate Professionals Need You to Write for Them!
By: Isabel Fena: Ask yourself these questions:- Are you an experienced writer?
- Do you want to stay at home to write?
- Do y... conducting open houses to begin with.Writing for real estate professionals can be a fun, lucrative and interesting busi...
Will You Be the Next Virtual Real Estate Millionaire?
By: David Isaacs: Copyright 2004 Dave Isaacs
http://www.infinite-revenue.com
Have you heard the term Virtual Real Estate?
This is a buzz... more profits will
be able to be gleaned from online advertising, but only if
you're ready for the profit onslaught!
The...
Negotiating real estate deals to win-win
By: Charles Warnock: If you’ve spent some time on homekeys.net, you probably noticed we generally don’t carry a torch for tradition or conv... other than price.Even though independent sellers can avoid some or all commission costs, there are still other fees tha...
Featured Article
Fraud in real estate, are you being victimized? - Part II
Willard Michlin
The phone range and Peter was on the other end of the line. "Willard, I have a friend of mine that has a real estate problem." I said, "Send him over." Two hours later, Jerry sat in front of me terribly upset. Three years earlier, he had been talked into buying a 4 unit building in partnership with Smooth Talker, a knowledgeable, smooth talking real estate salesman. Smooth Talker offered to find the property, arrange the financing, manage the building and even put up the down payment. Jerry was told that all he had to do was use his perfect credit to qualify for the loan and then sit back, wait seven years and the money would come rolling in.
Smooth Talker also promised that the two of them would do more deals and Jerry would make over $100,000. What Jerry did not know and he would not figure out until 3 years later was that Smooth Talker had no intention of splitting anything and Jerry could kiss his perfect credit goodbye. 3 years ago, Smooth Talker had Jerry and two other buyers, buy three buildings, located on one street. The buildings cost $150,000 each. Smooth Talker put up $1,500 down payment for each property, while at the same time, telling the buyers that he was putting in $12,000.00 for each. There was an unexplained difference of $10,500 each.
Smooth Talker also collected a $9,000 Real Estate commission on each. Smooth Talker also agreed to take the building in as-is condition, with no inspections and without requiring the seller to make any repairs. There were, unknown to Jerry $10,000 worth of air-conditioning as well as other work.
Smooth Talker had those other two buyers borrow from the Federal Government a remodeling loan of $48,000 to make the needed repairs. When those other two buyers each got their loans, Smooth Talker took all the money and said he spent it on Jerry's building. Let me clarify that. Smooth Talker stole the money from the other two investors, telling them he used it on Jerry's building. That is still stealing. My research later showed that he did almost no repairs to any of the buildings, and what little repairs he did have done, were not even paid for.
Smooth Talker cheated the poor workers out of their pay. No one could ever understand what he was doing. He even collected rent, pocketing any cash. When the buyers wanted an accounting. Smooth Talker wouldn't even supply it. When I came on the scene and demanded, as a matter of law, an accounting of what was received and spent. Smooth Talker didn't have any proof of what happen to all the money.
Jerry wanted out of the partnership but Smooth Talker didn't want the building sold; but he did want to make sure he got his due, if it was. He gave me a statement showing that he had put in $34,000 (which was not true) into the building and wanted that before any split of profits. This would of left Jerry receiving $5,000 and Smooth Talker making $46,400 on the whole deal.
To avoid being in this kind of a situation, I advice the following, before doing any sort of real estate deal; a) Evaluate your risk. What is your downside? Have a real estate expert study the deal. b) Set up operating and reporting guidelines with your partners. Put everything in clear English. c) Have everything reviewed by an attorney or an accountant. d) Choose your people partners with care.
About the Author
Willard Michlin is an Investor, Business Broker, California Real Estate Broker, Accountant, Financial Distress Consultant, Well known Public speaker and Administrative/Business Consultant. He can be contacted at his Ventura, California office by calling 805-529-9854 or by e-mail at kismetrei@earthlink.net See other article by Willard at http://www.kismetgroup.com
Redding California Real estate Resources
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California Real Estate - Redding California - Shasta County
Search real estate for sale in Redding California - farms; ranches; land; homes; businesses and rural real estate throughout Redding California. ... Redding; California Real Estate. - Shasta County; Also serving surrounding counties - ...
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Redding real estate property listings and CA real estate property listings and mortgage calculators; sold by Brian Mogensen; your Redding real estate professional.
Redding Real Estate Agents; Redding Homes For Sale; REALTORS and Redding
Redding Real Estate - Find Redding Homes For Sale; REALTORS; home values and see real estate information for Redding; California home buyers and sellers. ... Mortgage Center. Neighborhoods. Redding California Real Estate ... HomeGain provides Redding; California real estate information and resources to guide homeowners and homebuyers through ...
Redding California Real Estate - REDDING Homes For Sale - Redding Realtor
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Redding California Real Estate - REDDING Homes For Sale; Redding Realtor serving Shasta County: Cottonwood; Anderson; Shasta Lake City; Bella Vista; Palo Cedro for residential resale; new homes; condos; townhouses; golf course homes; gated ...
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We can connect you with the top Redding California agent in California real estate offices.
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Redding CA Homes for Sale & Real Estate by Robin Rivera
Redding; CA real estate and homes for sale in Palo Cedro; Anderson; Bella Vista; and Shingletown. Search for listings. Get free real estate reports; a market analysis of your home; area and mortgage info.
Redding California
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SELLSMART - Redding California Real Estate.
Sell or buy Real Estate Property. Homes for sale in Redding California; Shasta county;
Redding; California-Real Estate
1800 Park Marina Dr. Redding; CA 96001. (530) 248-5607. Welcome to Bill Kent's Real Estate web site! Whether you are selling or buying property; I consider myself as a member of a team with you.
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