Real Estate Investors

Tips to Preventing Foreclosure on your Virginia Home

“If a person defaults on a loan repayment to a lending institution, say two or more, then the institution earns the right to foreclose on the property for which the loan was intended to cover; this in an attempt to get compensation for the value of the debt outstanding. The lending institution gets their compensation either by auction, or an immediate sale to an interested investor.”

The purchase of a house or piece of land is a big achievement; and not one that comes easily. Persons who have never owned a home, may champion the cause for acquiring one- to keep as a nest-egg, or maybe for the pride of leaving it for their own kids. Whatever your goals are, owning a home is a smart investment and you should try to protect this investment at all costs.

These are the reasons why a person should avoid having the lender foreclose on their property:

1. In a foreclosure, the homeowner will never be compensated the full value of the house. Therefore he or she might never recoup the funds to buy another one.
2. Foreclosure will leave bad scores on a person’s credit rating. This is not a good thing, and affects the potential of getting new loans, credit cards or even employment.
3. When foreclosure imminent, the tenants are forced to move out right away. They have no time to prepare, and they have no say in when and how the house is sold.

Tips to Prevent Foreclosure

If two or more of the reasons above concerned you, it may be safe to assume that you would like to know how to prevent such misfortune. Here are some tips to prevent foreclosure.

1. Try to buy your house without borrowing from a bank or other such lender. Every person who has bills to pay would have given serious thought to what they should save or invest in for future “rainy days”. Home ownership is a good first thought. But if a person does not have all the money now, this does not mean they should go borrowing from a financial institution. Try asking for help from a friend, a family member, or a co-worker. They would more likely be lenient with repayments. Make sure that this individual is someone you can trust for confidentiality.
2. Refinance your loan or mortgage. There are smaller lending companies who would be willing to meet with you to discuss paying of your debts. Unless you have an expectation of money coming in shortly that would be able to pay this new debt, this would just serve to complicate the situation further.
3. Resolve to keep up with your payments. If you are a borrower this is simply the best way to avoid foreclosure. Watch your monthly expenditure, and find the ways that you can cut back on non-important expenses.
4. Want to sell your house? Foreclosure does not pay you what you’d like. Real estate agencies might not get your house sold. Why not try real estate investors or cash buyers / home buyers?  

 Are you a homeowner in the Virginia Peninsula cities of Newport News, Hampton, and the Hampton Roads, or maybe the Tidewater cities of Virginia Beach, Norfolk, Suffolk and Portsmouth? If you are trying to sell your home quickly to avoid the risk of foreclosure then you might want to talk to these people! (Help me sell my Newport News home, now!)

There are real estate investors in Virginia at this moment who have been paying instant cash for homes being sold in this state. Look out for them putting up signs at Virginia Beach, Hampton, Newport News, Norfolk, Portsmouth and all over! When you see them, go over and talk to them or click on this link: Community HomeSolvers await!

Real Estate Investors

Tips For Women Who Are Beginners In Real Estate Investing

The internet is a good place for them to turn.

Women who want to begin investing in real estate can learn some of the basics of investing in real estate by reading educational materials online, and they can develop a familiarity with the topic by reading about current events and trends in the real estate market.

Lack of knowledge is not the only thing that keeps some women from becoming real estate investors; fear is also a contributing factor, Charita Cadenhead, founder of Bham WIire (Birmingham Women Investing in Real Estate), a group for women interested in real estate investing, said. “They’re afraid of losing money, they’re afraid of not making the right decisions…and credit issues are also involved.” In addition, Cadenhead said, “they don’t know how to get started.”

Real estate investment clubs

Providing women with industry contacts and education, real estate investment clubs are a good place to start. Dawn Jordan-Wells, a broker/associate for Hodge Homes, said she recommended that women interested in investing in real estate do a simple internet search for “real estate investing” to find local investment groups to start attending.

“Finding other women to network with was beneficial,” Jordan-Wells said.

Real estate investment clubs exist in many incarnations; some are larger and more formal than others. The National Real Estate Investment Association (NREIA) has about 40,000 members in its 230 Real Estate Investment Association (REIA) chapters nationwide, according to its website.
REIAs can expand an investor’s knowledge and networkWomen interested in investing in real estate, and those who are already doing so, “should get into a REIA so they can get a pulse on the market,” Lisa Moren-Bromma, author of Wise Women Invest in Real Estate and Real Estate Investing for the Utterly Confused and president of The Entrust Group, said. Additional benefits of joining a REIA, according to Moren-Bromma, include access to educational offerings and details about legislation that could impact real estate investors. By joining a REIA, real estate investors “are going to have up-to-date information, not just on the markets, but also on the law.”

Cadenhead said women interested in investing in real estate should “join those clubs [and] sit in on some of the meetings. They have great guest speakers.”

Those new to real estate investing should exercise caution, however, and carefully evaluate what guest speakers say rather than simply taking their words at face value. In some cases, speakers at local REIAs try to sell something to the audience, Moren-Bromma said; new members should “just be aware. Be there to learn, and to network with other people who have been doing this a while,” she said.

“I would urge women to be extremely careful in [whom] they elect to give their money to,” she said.

In addition to REIA chapters, there are also smaller and less formal investment groups. Jordan-Wells said the website MeetUp.com has allowed her to meet and interact with other investors and those who are interested in investing. She posted an event on the website last August, and now attendance at her monthly meetings about investing has increased from an average of five people to an average of 15 people, she said.

“I’m hoping to grow that,” she said. The attendees are mostly women, Jordan-Wells said, and “we just share information and we’re more comfortable because, you know, we have that common bond.”

Cadenhead also used MeetUp.com to reach out to women in the real estate investment world, and Bham WIire has grown from that, she said.

In addition to investment clubs specifically pertaining to real estate, “I would strongly recommend also looking for support from a general business perspective at NAWBO, the National Association of Women Business Owners,” Moren-Bromma said. “They’ll get a lot of support from a business owner’s perspective and from women in their own area.”

Networking

No matter what type of real estate or general investment clubs women seeking to become real estate investors choose to join, such groups can provide them with crucial opportunities for networking, education and support.

“The greatest key is knowledge,” Cadenhead said, and women new to real estate investing can benefit from “being around other people who do invest to learn the process from those people.”

Learning from and working with other women who are experienced real estate investors can also be a good way to gain confidence. Moren-Bromma said she recommended that beginning investors “work with somebody with some experience in real estate investing—get your feet wet a little bit before you go out on your own.”
Learning from more experienced investors builds confidence for many womenAt real estate investment clubs, “there are real estate agents and other investors there for them to network with, there are lenders, there are contractors,” Cadenhead said.

“Everybody who’s related to the real estate industry can be found right there…so they can form their own network there to get them ready for real estate investing,” Moren-Bromma said. After joining a group, women should “put a business plan, or a marketing plan, or a road map together—their checklist of things that they need to do in order to become successful,” she said.

Moren-Bromma also said she recommended that women put together a team of experts to work with when investing. “You have your financial team: your accountant , your attorney, a property manager if you’re buying to hold property for the long term…people that can assist you and be part of your team so that when you go out to identify and find a deal, nothing is going to stand in the way if the deal makes sense. You’ve got your people, your money—all your ducks in a row.”

“If a woman does that, she’s going to be very successful in real estate.”

Strategies for women

Considering the credit crunch underway across the country, combined with the potential recession, many women who are interested in becoming real estate investors hesitate because they are nervous about money. More precisely, they are worried about not having enough money to be able to invest in real estate.

“I think [women] think that they need to have a lot of capital up front,” Jordan-Wells said. “Or their credit may be bad and they don’t think they can get started because of that, either.”

Cadenhead said that investors will need some money up front. “It’s going to take a little money to get started,” she said. “Six to eight months ago, an investor could buy a property with no money down and get it financed for 100 percent. With all the foreclosures  going on across the country, that kind of put a thorn in that, and so now [real estate investors need] to come up with money,” Cadenhead said. “Whether that’s 10 percent or 20 percent, a lot of them just don’t have it.”

Fortunately, for women just starting out, “There’s a lot of different creative strategies, like lease options, that they could do to get into a property,” Moren-Bromma said.

Buying pre-foreclosures or foreclosures is another strategy that may suit women in particular well for a variety of reasons. While foreclosure properties tend to be more affordable, they typically must be purchased with cash up front. Pre-foreclosures would be a better option for people without a lot of cash on hand.

Another reason is that, because in many cases women are more nurturing than men, a woman “may be able to talk with homeowners who are in [pre-foreclosure] and get them to let [her] purchase a house below market [price] compared to a man approaching them to do that,” Jordan-Wells said.

Cadenhead also said the foreclosure market is a place in which many women investing in real estate could find their niche. “I think women will play a major role in their commitment to revitalize areas hardest hit by foreclosures,” she said. “Members of my group, Bham WIire, have made a commitment to buying and rehabbing houses in these areas and then sharing equity with properties that they sell. And by doing this, homes become more affordable….We take a little less profit for it, but something has got to stimulate home sales again, particularly in these areas.”
Women can utilize their strengths in forming relationships in businessSuch a strategy allows the investors to profit not just from the revitalization of a particular property, but from the revitalization of a particular area. Such dedication to a community can improve an area’s economic outlook. Cadenhead said this type of investment is well suited to women because “a great advantage that women hold over men is compassion, and empathy .”

Outlook

“[Women] are relationship people,” Cadenhead said. “We’re good at establishing a relationship, we’re good at earning trust, and so people want to do business with us. It becomes a lot easier for us to develop a good reputation for delivering a quality product. This is a tremendous advantage [for] women, particularly when it comes to rehabbing property.”

Jordan-Wells said she recommended that women who lack experience with do-it-yourself home projects attend classes, such as those offered by hardware and home improvement stores, to learn the basics. Then, if someday they are looking at investing in a property that may require some work, they can make the right decisions about the deal. Do-it-yourself skills could be particularly useful for women who want to rehab  properties.

Negotiating can be another important skill for women to concentrate on learning. “[Women should] learn better negotiation skills,” Cadenhead said. “Acquire that skill and take control.”

Cadenhead said she doesn’t think that women are at any inherent disadvantage when it comes to investing in real estate. “I think the major disadvantage is probably internal,” she said. “Women only feel that they lack the power and authority. They feel like they can’t do it because investing is a male-dominated field.”

Moren-Bromma also said that women investing in real estate are not less likely to be successful solely because they are women. “It’s not that it’s difficult, it’s that women tend not to have the confidence,” she said. “Somebody who’s persistent and somebody who believes in themselves, whether male or female, will do just fine.”

Real Estate Investors

We Buy Houses in Newport News, Hampton, Norfolk, and Virginia Beach

Buying or selling a home is not as easy as it may sound. The financial factor, market trend, current economical condition, and presence of a mortgage loan are only a few of the important aspects related to a real estate transaction. Foreclosure, relocation, divorce are some of the most common problems that force a homeowner to sell house. In such cases it is best to consult a real estate agency to get hold of the best deals. There are numerous agencies that will promise to sell your house within a week or a few weeks. Do not fall for any such traps as you will end up losing money before you can sell your home. Hire a real estate agency that will help you with vital information, associated legalities in selling a home, and a really favorable bargain. A good alternative is getting in touch with a real estate investors such as Community HomeSolvers.

Before you contact any real estate agent or a real estate investors do a thorough research about the latest trends in the real estate market. A good homework will help you to properly negotiate with the realtor and the potential buyer. There are different types of residences for sale and you must identify in which category your home belongs to make out the right pricing. The major categories include multi-unit dwellings such as apartments, multi-family houses, terraced houses, cooperative, and condominiums. There is semi-detached dwelling like a duplex as well as single-family detached homes. On the other hand there are the portable dwellings including houseboats and mobile homes.

Pricing your home depends on your understanding of the buyer’s expectations because wearing the seller’s hat is not so easy. Keep in mind that your estimation of the value of your home is not ideal until the potential consumer agrees with it. Try to understand the demands of a buyer by answering these three issues – 

• If the worth of our house is much more than any foreclosure  home sales
• What are the causes that will compel a buyer to purchase your house over a foreclosure house?
• Is your home is in disrepair and you don’t have the money or time to fix it

Community HomeSolvers buys houses for cash and can take care of the whole transaction quickly and easily.  The best thing about Community HomeSolvers is that we buy homes for cash can give you the best possible rate for your property that falls according to the market rate. We are looking to actually purchase your house from you, not list and put a sign in the yard like real estate agent would. We saves you from having to pay the very expensive costs of commissions and fees out of pocket that listing your house might cost you. We buy houses in all of the Virginia Peninsula cities of Hampton, Newport News, Poquoson, York County- Yorktown, Williamsburg, and James City County and the Hampton Roads / Tidewater cities of Suffolk, Norfolk, Virginia Beach, Chesapeake, Portsmouth, Smithfield, and Richmond, Virginia

Real Estate Investors

Discover Three Reasons To Let Investors Purchase Your Home In Hampton Roads

Everyone understands how bad of a shape the United States economy is in. After all, people who want to sell their homes are having great difficulty finding people qualified to purchase them. Few people are looking and fewer buyers are qualifying for a home loan because of the credit crisis. However, this is not so true in several Virginia cities of the Hampton Roads and Virginia Peninsula such as Chesapeake, Hampton, James City County, Norfolk, Portsmouth, Petersburg, Chester, Chesterfield and Richmond, Virginia to name a few.

Reason 1 – We Pay All Cash To Buy Homes in Hampton Roads

While the present credit market has left many investors out in the cold and unable to buy a home, many investors have discovered that their lines of credit have all but been depleted. Before the crash, many investors could have simply gone to another bank. However, the crash has taken away this cushion, but not to fear  Community HomeSolvers can still purchase your home should you want to sell it. How? Community HomeSolvers have private lenders and don’t need to rely on loans from the banks.

Reason 2 – We Are Local Real Estate Investors In Hampton Roads

Are you looking to sell your home in the Norfolk, Virginia Beach, Newport News, Hampton or Portsmouth area? Community HomeSolvers are just one simple phone call away. Since we are local investors, they can help determine your home’s value quickly. We review comparable sales and estimate how much repairs would cost, as we also know how much it would cost to get the materials. Offers are generally prepared within 48 hours.

Reason 3 – Easy Handling Of Repairs In Hampton Roads

A home that’s in need of repair can stop you from selling your home. For instance, if it needs painting or re-carpeting, it takes money, time and energy to get this done, something a seller won’t want to deal with. If there are structural, plumbing issues, long-time roof leaks, or termites it can be even harder to unload a house, as these generally require expensive workers to come in and deal with.

It can be extremely hard to live in a home that’s undergoing renovations. However, Community HomeSolvers seen these kinds of home, do the repairs and sell them to other people or rent to own.

Bear in mind that these are just three reasons why Community HomeSolvers are interested in buying your home in the areas of Hampton Roads, or Richmond, Petersburg, Henrico, Chester, Chesterfield, Hopewell, Virginia. While trying to sell your home can be a stressful ordeal, there’s always someone ready, willing and able to take care of it for you. All you need to do is called 757-255-8080 or head to www.sellmyhomevirginia.com.

Real Estate Investors

“We Buy Houses” Companies: How They Work and Help Distressed Homeowners

When a homeowner is in dire straights about their home, they will often look for companies that will buy their home fast. They may ask friends and family about real estate investors and “We Buy Houses” companies who can purchase their home and give them cash within 21 days or less. Though these people have a good idea about these different companies, they may do some research to supplement what they have heard. If you fall into this category, this is the best thing you can do for yourself.

Investors who work for these “We Buy Houses” companies often hear the question, “has anyone answered the “We Buy Houses” ads? However, other questions often include:

• - How does this program work?
• - Why should I sell my home this way?
• - Why are these investors getting it cheap?

 If you’re confused about how all of this works, here’s some help explained in layman’s terms.

These “We Buy Houses” businesses and/or real estate investors are able to purchase your house quickly because they have a large number of creative solutions that can help you to end that financial burden you’re feeling. When you need to be rid of your home quickly and need the cash right away, you’re bound to get a bit less money when you’re selling it fast.

If you were to sell your home using a realtor or do it yourself, it may take your months to actually sell your home. However, when you use “We Buy Houses” companies, you can get rid of that house quickly but bear in mind… they are going to want it at a discounted price for your house for sale in exchange for making it a quick smooth process, taking on the inconvenience and risk of buying your house fast.

If you’re looking to sell your home but don’t want to do so at a reduced price, you might sell your home for full market price but agree for a partial payment upfront then equity payments for the remainder of the purchase price. This is generally done for homes that are in distress. When you’re going through financial problems and are in need of cash quick, you can sell to an investor will has flexible terms that may work for you. These investors can make repairs, market the house and at the end of it all, make some kind of profit.
Many people are under the assumption that most investors will try to cheat homeowners. However, don’t let those few bad investors ruin it for the rest of the investors who are actually honest. Make sure you do business with only reputable companies like Community HomeSolvers ( www.sellmyhomevirginia.com or www.757webuyhouses.com)

You must always keep in mind that this business transaction is like any other business transaction… you pay for its convenience. As an example: you buy something on the Internet; however, you need it the very next day. It’s going to cost you a lot more money to have it in your hands that quick.

You’re not paying more to sell your home fast. What you do is give a discount upfront instead of selling your home the traditional way, paying for closing costs, taxes, mortgage payments, realtor costs and more.

If you’re looking to sell your home to an investor instead of selling it the traditional ways, consider contacting Community HomeSolvers http://www.sellmyhomevirginia.com for more information.