How Does a Short Sale Affect Me With Taxes?

(My Original Blog Post: http://ping.fm/V55Nq)

Tax Time, Foreclosure, Short sales, some people may owe some big tax bills, been watching the news lately on this... some ideas I'd share about it..

How Does a Short Sale Affect Me With Taxes?

Being that I am not a tax advisor I will not get into this question and topic too deeply, and also I have attached numerous great articles from the IRS, and attorney’s below for further reading about short sale taxes and the 1099 the homeowner could receive in the future. We will want to make sure that the short sale expert negotiator does his/her best to help you out. I have listened to many experts and been to many short sale seminar and training, and they all seem to have a different view, or at the very least explain it in a different way. As a general rule in Minnesota, when you go through the foreclosure process, that lender who does go through a standard 6 month redemption by the way of advertisement has in effect relinquished their rights at coming after the borrower for a deficiency judgment on the short sale. However, you are looking to sell the property for less than what is owing before it would go back to the bank. Therefore with this situation, when the short sale negotiator talks to the bank they will need to get a letter approved by the lender to waive any future deficiency judgment against the seller and consider it a “full settlement paid in full”. Please keep in mind that lenders can still come after anyone that signed on the original promissory note that guaranteed and signed this note. In addition the other lien positions didn’t initiate the foreclosure, so they still have the right to come after the seller for a deficiency judgment. Also many lenders will do what’s called a “partial release” where they detach the lien (mortgage) from the property so that the property can be sold and clear title can be passed to the next buyer. Depending on the negotiations with the lender, this promissory note can become a judgment and the lender can later come after the homeowner for that amount they guaranteed. Also please keep in mind if you sell it on a short sale, or the bank ends up with it back, eventually their will be a “loss” showing to the lender of which the lender will take that difference (amount owing – amount sold for) and even if they don’t’ come after you for a deficiency judgment they can always pass that information onto the IRS, and at the timing and choice of the lender can 1099 the homeowner possibly 1, 2, or 3 years later when it would make sense for the IRS, to show it as a loss on their tax records for that year. This part of the transaction can get pretty complicated, so I think you should seek advice of a tax advisor, I would also recommend you talk to Todd Rooker on this as well as he can put you in touch with the right tax advisor.  Please check 2007-2008 recent guidelines changes by the IRS, as they have changed some rulings on forgiven taxes for certain owner occupied situations, this began as a 2 year rule and got extended for more years. Also new legislation came out in 2008 that benefits you to do a short sale over letting the house go to the bank when it comes to writing off taxes, so please check into this recent ruling.  Most investors may want to look into the term insolvency to see if that applies to their situation showing that their liabilities exceed their assets, check with your account on this as this may be a way out of paying taxes.

.htaccess for your 400, 403, 404, 500 pages

(My Original Blog Post: http://ping.fm/b1KSR)
I don't know that much about programming or as much about web hosting as I should, but I have been using an .htaccess file for many years, as far as I can remember since I have used FTP.   The reason I use an .htaccess file and upload it to my main root directory on my hosted server for my domains is that I don't any traffic leaks, and missed hits in my online marketing.  Why do you need this file?  Anytime ever that you created links on your website over the years, changed links, deleted pages, changed pages from .htm to .html or from property to properties, or any edit or change over the years, you likely forgot to either change them on all the sites you ever had linking to you, or other sites that link to you won't change them or it would take forever to go back and change that.  Another problem is that all of those broken links and missing pages may be going into a black hole.  Your surfers web browser may just show them "page can't display" the surfer just leaves and you never hear from them again.  If you added up all of the links, website changes, and blog url's over all of the years you have created, chances are there is a lot of traffic that is missed, the way to solve this, to catch the 404 pages is with this .htaccess file.  I upload a text file with the type below to my root server.

ErrorDocument 400 http://www.ronorr.com

ErrorDocument 403 http://www.ronorr.com

ErrorDocument 404 http://www.ronorr.com

ErrorDocument 500 http://www.ronorr.com

so for example, when you type in just about anything

www.ronorr.com/typewhateveryoufeelliketyping  or www.ronorr.com/thispagemaynotexist

you should get redirected automatically to www.ronorr.com or whatever site I or you choose.  This is a great way not to lose traffic.  Many of today's newer blog services probably have a feature like this added, as long blog url's and change in categories, can easily change the url.

 

www.RonOrr.com

Pros and Cons of Lease Options for Tenant/Buyers

(My Original Blog Post: http://ping.fm/A0KFF)
Pros of Lease Options for Tenant/Buyers-The pros of a lease option for a tenant buyer is that they can gain equity by locking in a price today.  A locked in price with the addition of appreciation can really leave a lot of equity for a tenant buyer years later.  An investor buyer could put unlimited amount of lease options under contract in theory.  The buyer doesn't have to follow thru on the property and exercise the option if they choose not to.  If the buyer feels the house is not the right house, or has gone down in value or not up in value at all, the buyer can choose not to record the option, this is a huge advantage and pro to the buyer.  The buyer may also build equity through monthly rental credits if the seller and buyer agree to do so.  I personally don't do this as the buyer or seller, but the way it would work is that a portion of the monthly rent could go as a credit towards the purchase price of the property, lower the property price by "x" amount per month, and at the time of purchase the purchase agreement could be agreed on at a lower price. This gives the tenant buyer a chance to build in extra equity in addition to their option money.  If the lease allows subletting the tenant buyer could allow for some help from other tenants or roommates to help pay for things.   Lease Options are great for buyers , and allows them to control one or many properties for a fairly affordable price.  Most lease option properties are in pretty good condition, so this is a great concept.  Most lease options allow 1-3 years to allow for the tenant buyer to increase their credit score, so that when it's time to finance they can get financing and a much more competitive interest rate.

Cons of Lease Options for Tenant/Buyers- The cons of a lease option for a tenant buyer on a lease option is that the landlord can still evict you if you don't make the payments.  Evictions don't take that long.  If the tenant buyer has more money to put down, they may want to do a contract for deed, where the cancellation process is longer than an eviction.  Tenant buyers have to put down option money which is almost always non refundable.  As another negotiable item some landlords may not count the option money towards the purchase price, or may not give rental credits. The tenant is able to at least try to negotiate this with the seller.  Tenants still have to consider that when they make payments to the seller, they have to have checks and balances in place to make sure the seller is making those payments to the bank.  Sellers have been known not to do this and keep it and have the house go into foreclosure, but this is true of any rental situation, tenant buyers need to just double check this with landlord / sellers.  Tenants put down option money, if they don't work really hard on their credit score to improve it, they may not be able to get financing in the near future.  Another disadvantage for a tenant buyer is that based on some situations with their previous house, whether it was a short sale or full foreclosure, they may not be able to get financing for quite a few years, and the lease option may have been written for far too short of a period of time, when they needed longer to allow for financing and the foreclosures to come off their record, credit report, or not disqualify them for financing.  Another disadvantage for a tenant buyer is if they have very little option money they may have very limited choices on which houses to choose from.  If they have less than $3000-$4000 option money they may have to go search and find sellers themselves, they maybe can't work with an agent, since their is not enough money for an agent to be paid on the transaction.   The possible biggest concern for a tenant buyer on a lease option is that at the time of closing they still have to be concerned about the title work on the property.  What I mean by this is who are all of the sellers, are they around to sign as sellers on the property, has anyone been recently divorced or deceased. Is there a need for a power of attorney.  Are there sellers in other countries.  Will the sellers participate when the time comes.  Will the sellers feel like they have too much equity.  Will the property be encumbered with a lot of liens, IRS liens, judgments or anything else from the property itself or from the seller's credit situation.  This could happen at anytime during the years that you have an option on the property.  Their are advanced ways to get around this, too much to cover in this article, but it would require anything from having the seller pre-sign a deed and put it in escrow with a title company at the original time the lease option is signed.  If there is a divorce, etc you may have to check with an attorney or title company if everything still needs to be resigned before closing.  Some protection of judgments and liens can be avoided with the use of land trusts with conveyance from the original deed where the seller remains the beneficial interest.  Land trusts are for another blog post.   Learn to get to know the seller, trust them, and become good friends.

Lifetime-Lifetime Invested Following Education in Time, Improving, Marketing, and Evolving

(My Original Blog Post: http://timemyself.com/time/mind/time-evolution/time-leverage-time-evolution-mind/positive-leverage/marketing/lifetimelifetime-invested-education-time-improving-marketing-evolving/)
The idea of the principle of LIFETIME with www.RonOrr.com is explained through the acronym LIFETIME. Here is why it was created.  As we get older we learn lessons in life about what doesn't work, what does, and how to better do it next time around.   For example we have learned over the years what we shouldn't have eaten, or said, or watched, or bought, or invested money and time in.   If we are honest with ourselves early enough in life we can learn to change the path to be more forward and less sideways and backwards.  "If you don't have a drive, your life is stuck in neutral or reverse."  You are either going forward or backwards every day. Have we ever eaten the wrong things only to realize it takes years to work off the weight?  Have we ever said something we regreted only to realize it takes years to fix the damage or never get back to where it was? Have we ever invested too much time or money into something that has backfired on us, only to realize those months and years are now lost and can't fully be regained?  We all have learned those hard lessons of life, so let's start working on one idea... What do I know FOR SURE?  What am I 100% certain about?  As the years go on in life I see the older generation become less confident and more confused, and the reason is they have had some failures, been through some hard times, and have been humbled by mistakes. They are no longer kids who are invincible, they learn that.  They start to question even their own decisions, thus causing analysis of paralysis.   This makes them less confident and more stuck on not moving forward. Everyone needs to move forward every day to cause positive momentum to get to their end goals.  What are your end goals? It's different with everyone, but just think of your funeral and how many people you want to be there, and what you want them to say about you.  

Whatever you want to be best known for at the end of your life, is probably what you should strive your life to achieve, to make that difference.  If you live life with the end goal in mind, you will be pulled towards that goal every day, sometimes more some days then others.   How hard would you try if you knew that everything that you did, you were 100% certain about?  Think back to how slow you moved on other things, it's because you questioned yourself, or got stuck, such as the credit crisis of 2008-2009.  In that year everyone got stuck mentally.  Why did they get stuck?  Everything was collapsing in front of us, real estate housing, stock market, all investments, banks were failing, 150 year business were failing.  Business people, other people, the government, everyone was letting them down, they didn't know where to turn, put their time or their money, who to trust.   Many people took their money out of the banks and didn't even trust a 2% return with a bank that had been around forever.  People who have been in small businesses for 20-30 years soon were out of business, it was every man or woman for themselves.  Let me ask you this question, do you trust yourself?  Do  you know what's right or wrong even if people on wall street or the government doesn't?  Do you know how to feel good about yourself even if others don't care about the same thing?   Until things change, with the government, wall street, mainstreet, commercial and residential real estate, you can't wait for life to happen to you, you have to make life happen, read my article 8 minutes, in regards to that. What we need to spend our time on is what we are 100% certain about, what we know FOR SURE!  Let me go over LIFETIME now with you.

Lifetime-If it's worth doing, it's worth doing your entire lifetime. You should be 100% certain about this.

Invested Following Education-You have to continue to learn every day, to challenge yourself, evovle as a person and change the world, positive education always helps you.  You should be 100% certain about this.

in

Time-Time Awareness, Time clock, seconds, hours, days, years, those are the guidelines and rules of the game, this is what we all have that we must make the most of. I write a lot about time in my blog, you can read my article about why time, to understand, or the article 8 minutes.  Time is a very precious commodity, we have less every day, time is valuable.  You should be 100% certain about this. 

Improving-If we aren't moving forward every day and improving through learning, leveraging, than we are moving backwards, it's just a fact, you must continue to keep up with the quick moving world, improve your mental state, education, technological changes, health, friends and family, relationships strengthened, or you will soon find yourself chasing those things and falling behind if you don't.  You should be 100% certain about this.

Marketing-If you are spending your days educating yourself, and living your life correctly, and are pleased with the positive results you are getting, why not spend your days learning how to market online and offline, (you can read my articles, I'll teach you how), then with your new found knowledge share your positive messages with the world.  You can create a better world, market your business in the process, make a living, and a difference in the world at the same time, how rewarding is that?  You should be 100% certain about this.

Evolving-This goes a lot with improving, if you are not evolving every day as a person, what are you doing? Are you just mooching off the world, are you just a dependent to the world, how are you contributing to the world.  Work every day on yourself, and teach others what you have learned, and in the process you will evolve as a person.  You should be 100% certain about this.

There you have it, there are some ideas that you can't help but be 100% certain about, 100% certain about spending your time on these things, so go out and change the world one marketing message and step at a time!

www.RonOrr.com

Follow Me Forever Marketing

(My Original Blog Post: http://timemyself.com/time/mind/time-evolution/time-leverage-time-evolution-mind/positive-leverage/marketing/follow-marketing/)
Follow Me Forever Marketing

The idea of follow me forever marketing is that you continue to market every day a message that you believe in that you yourself do every day.  The idea is that you want others to follow and emulate what you do, so that they can move forward with you daily and follow you through out your life as a friend so that as the months and years go on you can stay good friends and grow together and have a lot in common, and evolve as friends, and leave no one behind.   Follow me forever marketing is an idea of branding yourself, your ideas, with the end goal in mind.  This may mean to you, that at the end of your life what would you like to be best known for.  We all could come up with a mission statement of what we want to accomplish someday, but we also know that as the months and years go on and we grow as people, that mission statements, and our beliefs will alter some, that's natural.  We may have bigger goals, higher standards, and we may want to share this with friends, family and followers.  The idea of the follow me forever marketing is that you believe so strongly in your message that you need others to hear it.

       The idea when marketing is that you get out what you put in; meaning, if you get the message out 100,000 times you’ll get better results on average than if you put out 1000 times, so why hold back.  You get out of it what you put into it; this is a good lesson to learn, as you will find this to be true with about anything else you try to accomplish in life.  Follow me forever marketing makes you be true yourself, and raise the bar, and your own standards, as you now feel obligated to be a good role model for two reasons: 1. People are following and observing you now.  2. When marketing, you are making your message public; the act of going public makes one naturally take their beliefs more serious.  The idea of follow me forever marketing is that if anything is worth doing today, it’s worth doing forever.  The idea of follow me forever marketing is to create ideas and income streams.  If you are going to take your time to do something, do it right, so that you later don’t have to redo it, or fix it. The idea with follow me forever marketing is that you shouldn’t have to start over again, you should always be moving forward into the future every day. 

 

        You are striving towards your end goals every day, gaining on them.  We understand that we strive to be 100% certain about what we believe forever.  We want to practice perfectly daily on what we are 100% certain about.  We understand that over our lifetime that ideas and beliefs will change as we get older, wiser, technology and friendships change, so we must set up our marketing now with that end goal in mind, so that we can instantly update everyone we have ever communicated with, with our new improved, updated ideas of where we are at, to help others.  Follow Me Forever Marketing, is about what do you believe in and what do you know for sure, at this time in your life.  Follow Me Forever Marketing is about making forward moves, not lateral or backward moves.

         The tips you will learn from follow me forever marketing will teach you how to brand yourself, and create a message of who and what you are, with the idea that you can work as hard as you want every hour of every day on the concept, and if you feel more strongly about something else later, you can direct your following quickly, and not spend a lot of time undoing, redoing, or starting over.  When you type, write, talk, in today’s world you are creating a history, trail, tracks whether you like it or not, you will be forever known for what is documented, said and typed.  Knowing this, we need to make sure we say and portray the right message forever.  As Tony Robbins says “Any life worth living is worth recording.”

        Follow Me Forever Marketing will give you the messages to follow forever, and it will give you marketing tips to have others follow you.  In the process I would hope that you would follow me www.RonOrr.com and my various methods to follow me, whether it’s email, RSS, subscriptions, newsletters, twitter, websites, cell phone #’s, articles, blogs, etc.   In the process I hope to meet some great people, gain some great friends, and grow along with my following and help others in the process, please do me a favor along the way and help forward these messages onto others so that they can follow each of us.

Future of Marketing, in some ways it's too competitive

(My Original Blog Post: http://timemyself.com/time/mind/time-evolution/time-leverage-time-evolution-mind/positive-leverage/marketing/future-marketing-ways-competitive/)
As someone that has been around marketing and sales since the age of 7, and around internet marketing since day 1, I have seen the internet evolve, I did it pretty much full time since I was 18, it's been over 14 years, I have been on it about every day since. I have tinkered with 10,000's of sites, 1000's of affiliate programs and marketing tricks and it keeps evolving and getting more fun. I have also learned that the internet has reached a new level ever since web 2.0.  What's different for me is I noticed let's pick a number, 20 million sites (500 real ones) in the beginning advertising to the 300 million of us online worldwide with updates to website on average maybe every month?, these days, it feels like their are 1 billion people online marketing to 1 billion people online with updates every hour, do you see the difference? It seems as if there is 1 marketer for every 1 person online, how can those ratios evolve.  It's almost like an overbuilt structure in some ways, it's kind of like building too many homes out in rural areas, then after their is a beautiful home built way out in the country and then more in the same subdivision, it may take years of being over built until someone says wait a second, the phone company, and wireless internet, broadband, drycleaners, big outlets dont' come out this far, I am not in a hurry to buy out here until they do.  You see we are getting to the point where 100 million to 1 billion people are creating blogs , comments, twitter, status updates, etc so frequently how can anyone keep up, the content is being created faster than we can get to it or read it.  In the future we may end up with so much info overload from the age of 2 and up, how will we determine what's right, what's wrong, what's moral or what's immoral?  I mean what if people read joe smith's blog about what is most important in life, or his standards, and he is good with online marketing, maybe those are people's new standards.   Their is so much automation these days it's allowing people to spam spam spam, well the problem with spamming is just like how the credit crisis collapses and reverses on it self and feeds it self, it's the same with spamming, spammers learn to make money with automation and a low response rate, but over time with all of the marketing and spamming the response rate gets worse and watered down, so more people need to spam just to get a reaction.  It's like inflation at a restaurant, the restaurant gets fewer customers eating there, so they raise the prices a lot, 20-30%, cut back staff, shrink food portions, so the last of the people left have to decide if they want to pay more, for worse service, while getting a smaller portion, so fewer people go, and eventually the restaurant goes out of business.  I believe the same is happening with blogging and micro-blogging, a lot of it is a novelty, people like to be heard and give opinions, but after awhile only the best will survive, many won't make money and will ask what they are doing.

 

I think it's interesting how no one wants to hear about the new get rich quick business idea which may be true, but hearing what color socks someone is wearing or what they had for lunch on twitter or facebook is worth reading?   That's even more over done than spam, so what I am saying is we use to have a few select companies marketing to us, now everyone is a star. Everyone has their own blog articles, videos, cell phone/twitter, profile, etc etc. It's great for personal and keeping up with family and friends, but only time will tell how it plays out with business, and if people will remain having enough time to social network so much.  Back in the day we had 4 tv stations, then probably 12, now we have hundreds , plus all of the video games ever created, plus every you tube video, every tv show that's on dvd, every dvd, vhs, song by major artists, now songs from the past on youtube, plus every one now is a movie director on youtube and musician with their own mp3.    You see everyone is marketing now against everyone else, and this isn't just the U.S. 3rd world countries and billions of others in other countries are doing the same, so we are all competiting against each other, so we better be on top and keep at the branding and marketing of ourselves to stay ahead.  I believe information is being created so quickly that the future will be more about filtering the information much like google has done, and much like spam traps with email.  I saw a video from the last few years that said more information was being created that year than the previous 5000 years combined.  We may all need to learn to speed read.  With India and China growing probaby 5-10 times faster than the U.S. and with the marketing/sales platform being on the internet which anyone else in the world has access to, we all may need to learn India's and China's language to stay ahead.

How does a bankruptcy affect a foreclosure

(My Original Blog Post: http://ping.fm/jlURI)
 

Know some people in foreclosure, that think about doing a bankruptcy to slow things down, well I tell them this...

How Does Bankruptcy and Short Sale Work Together

I am going to refer this over to Todd Rooker 763-383-0959 a specialist mentioned above with credit repair knowledge, Todd can refer you to an attorney that specializes and understands the affect of bankruptcy and the foreclosure process. As a general rule a bankruptcy doesn’t stop a foreclosure, and in some cases it can only slow it down. Situations where a bankruptcy is done before the sheriff sale could slow down, or postpone the sheriff sale, whereas if it happens during the redemption period it would just take place within that redemption window, so my understanding is that before the sheriff sale would be where you are slowing it down. Being in foreclosure prior to the sheriff sale and prior to the foreclosure being filed by the bank would be considered a pre-foreclosure. Also the lender must file a motion asking for the foreclosure to proceed. I would highly suggest that you go over this with a bankruptcy attorney who does this every day for a living. You will be getting a letter known as an “Affidavit of Abandonment for Real Estate & Asset”.  There have been some new legislation trying to change contractual law in the case where bankruptcy can now affect foreclosure more, so please check into this with an expert.  Please look into the term insolvency with your CPA or account as to whether you will owe taxes or not from the short fall on your short sales.

How does short sale affect credit

(My Original Blog Post: http://ping.fm/FUEn7)
 

Know lot's of people who are in foreclosure or have been in foreclosure?, they always ask how it affects their credit, well here is what I tell them...

How Does a Short Sale Hurt or Affect Your Credit Score or Report?

*Note that since about 2007-2008 some recent legislation passed on which scenarios taxes can be forgiven in owner occupied situations and the timeline has been extended, please refer to the IRS and your CPA or account for this recent changes.  The biggest changes affecting your credit with legislation these days is how Fannie Mae, Freddie Mac, and FHA change their guidelines how how many years after a foreclosure or short sale until you can purchase your next property, due to the constant changing laws, where today it's around 5, 7, 3 years respectively, please check with a loan officer, or we can put you in touch with one.  Some may treat short sale similar to foreclosure, but recent laws have come out where short sales are not suppose to effect you as badly as a full foreclosure, meaning less time until your next purchase, due to recent 2008 laws. 

This is a very common question asked all the time as far as what effect it will have, how a short sale on your record will affect your credit score and credit report. A short sale in general will affect your credit report less than a full foreclosure or deed in lieu of foreclosure. You can have a “settlement paid in full” negotiated with the lender, and obviously this will show better than simply doing nothing. No one may know exactly to perfection what the difference is in points on how your credit score would be affected whether you do a short sale vs. a foreclosure. If you are behind in payments and you owe too much on the house, what choices do you really have anyways, you are over financed. If you have lots of money, assets, reserves, and a high net worth and you just don’t feel like making payments or feel like paying down your principle balance, your lender won’t want to do a short sale.They will first want to get financial info from you, and a written hardship letter. This will make it quite clear to the bank that your only option is some help from the lender. This is where you see a seller that has a property listed on the MLS reading as “subject to bank approval”. A full foreclosure can stay on your credit for up to 7 years. I recently heard that Freddie Mac was trying to pass some new laws for their company that would not allow some borrowers to finance a home for up to 5 years through them. This was more in the cases where people were just walking away, and didn’t have a true hardship case. Currently you can get a FHA loan where your last foreclosure was only 3 years ago. That’s how it is in the current market. You can always just go buy on a contract for deed, get into a rent to own, or rent a property while you are improving your credit. As a general rule you can still get loans with 30 day late payment on your record, it becomes less likely with a 60 day late, and very hard with 90 day late mortgage payment, etc. Also in today’s market you can get a lender and the loss mitigation department to agree to a short sale without being behind on payments. In the recent past you had to be behind up to 90 days. It’s slowly been easier and easier as the lenders want to solve this currently large problem with foreclosures. You will probably have many questions about credit, credit repair, bankruptcy, and how all of this affects you and works together, the guy you will want to talk to locally is: Todd Rooker 763-383-0959, he is the owner of Armor Financial Services Credit and Debt Specialists. He is good to talk to about credit repair, financial planning, and he can even refer you to a specialized bankruptcy attorney that understands short sales and a tax specialist on how the “short payoff”, 1099, or deficiency judgment could affect you as it relates to your taxes. There are situations where you, as the seller, are “insolvent” as the definition put forth by the IRS. Please consult a tax advisor on this. You should check out the new Fannie Mae guidelines for foreclosures and short sales.

Millionaire Makers, Inc. Network Marketing

(My Original Blog Post: http://www.minnesotainvestors.com/blog/millionaire-makers-inc-network-marketing/)
My friend Mario on facebook is working with some local Minnesota people on his company, with entrepeneurs, cool concept...

"Millionaire Makers Inc." (MMinc) is a team of entrepreneurs that believe in leading through education, support, and by example. MMinc is a group of independent business owners that use Net-Worth’s business plan as a foundation to provide opportunity to people across the United States, of all ages and backgrounds, looking for a change in their lives.  The underlying reason that the majority of the US population has financial struggles is due to the education they receive from their school systems and families. A proven system of Education backed by a plan and a support system, gives individuals the tools needed for personal and financial success.  The team was founded by Mario Dattilo, a successful, young entrepreneur in Minneapolis Minnesota. After being a business owner for many years (starting at an early age) he has worked with countless people to reach goals they never realized they could accomplish. With a very down-to-earth and humble training style He credits God, His mentor/well known business owner Paul Jones (President & CEO of JMG Net-Worth), and the team of other success-minded individuals that have partnered for the cause.

MMinc. is a professionally managed organization structured by over 8 years of industry experience and comprised of top-notch individuals that are handpicked for the team. Working with professionals that have the motivation and the willingness to be coached creates high performance and a strong synergy within the team. MMinc. takes its work seriously while holding a family type atmosphere making it enjoyable to build a business. While many people are looking for jobs, some are considering starting a business of their own. According to a recent article in USA Today (click here to read article) , our current economy is very conducive for entrepreneurs ready to take the next step. Although starting any business comes with a level of risk, MMinc.’s business structure (network marketing) has minimal costs for startup and high income potential compared to traditional businesses. Robert Kiyosaki (best selling business author) describes network marketing as “the perfect business” for the average person because of the low risk, high returns, and relatively short amount of time it takes to profit (click here to watch video clip). Other well known business owners, like Donald Trump and Warren Buffett, agree with Robert Kiyosaki and have even had ownership in network marketing companies. Our business structure is a combination of leveraged income and residual income. Leverage is the ability to be paid from a system that you put in place one time that runs whether you are present or not. Leverage creates income but more importantly the ability to free up your time to do the things you really want to do. Residual income is simply reoccurring income that you earn from the effort you put in one time. When you combine these two forms of income you are putting a system in place that works for you and pays you monthly for what work you and your organization did one time. Neither form of income is new or any kind of secret but most employed and self-employed individuals fail to learn the significance of these and therefore fail to live an above average lifestyle. MMinc. business owners independently market services for JMG Net-Worth (licensed in 50 states and member of the Better Business Bureau). Each service helps people live a balanced and stable lifestyle. Each provide solutions for our clients finances, physical health, mentality, spirituality, and social life. For example we market an online mall that allows consumers to receive cash back (cash rebates) every time they make a purchase online with over 755 companies (ex: Target,Itunes,bestbuy,Macys,Stubhub,etc.). The cash is stored within their online mall and is able to be spent with any other company within the mall. The shopper can choose to have the cash moved to a visa pre-paid card which is mailed to them. This gives them the ability to use the money anywhere visa is excepted. This service is free for the customer and brings significant value to their day to day spending habits. All services have free customer support and are able to be accessed online to provide convenience. MMinc. business owners provide a marketing avenue, direct to consumers, instead of using traditional advertising. Although traditional advertising is still commonly used, it’s expensive and difficult to estimate results. If no customers result from the advertising campaign then it is a loss. Our marketing strategy is the opposite. We bring the customer to the company's services and then are paid for the results. A much more effective and cost efficient way to gather loyal customers. Our business system has been simplified to make it possible for new business owners to learn quickly and to start earning an income immediately. There are two parts to our system. The most important is putting together a marketing team of other business owners. This creates the leverage in your system. The second is bringing customers to the services (1 time) that people need and that add value to their lives. You are paid residual commissions from the customers you gather along with the customers gathered by your marketing team. Your partners will also have the ability to build their team which you will be paid residually for as well (7 levels). The result is being paid from thousands of customers paying for services monthly, while retaining your time freedom to do the things you want to. Although our system is simple and able to be duplicated quickly, it takes time and minimal monetary investment. Our superior training and coaching is proven to support the individual that is serious about their future.
Submit your info here: http://www.minnesotainvestors.com/jmg/  or contact me and I'll put you in touch with Mario.

What is an Authorization to Release Form?

(My Original Blog Post: http://ping.fm/BO5LA)
 

Your friends or family going through a short sale, before the bank gives them info they may need to give some info through Authorization to release form...

What is the Authorization to Release Form?
View this Authorization to Release info form
This form would be 1 of many items in the Short Sale to Package.

Here is an example of the language you would see in a Authorization to Release info:

Borrower/Owner:

Social Security Number:

Property Address:

I/We hereby authorize______________________

and it's agents to obtain any and all information with respect to the following items:

1. Any and all information on my existing loan, including but not limited to:

My mortgage loan with (Lender)_______________________________

Under Loan Number:________________________________________

2. Any and all information on any existing liens against the above named property, including but not limited to information for any lien holder/and or their attorneys

3. This document may be reproduced by the individual or company to obtain information from multiple sources as needed

Please provide________________________________________

with any and all information requested on our behalf

{Borrower's Signatures}

{Co-Borrower's Signatures}

Tony Robbins Biography

(My Original Blog Post: http://ping.fm/Ygnmo)


Have you heard of Tony Robbins autobiography or how he got started, I watched this video this week....

This is a Tony Robbins biography that talks about him since he was 19 working for Jim Rohn.   It talks about how he was making $10,000/month by such an early age.  Tony wanted to share his good fortune with others.  This is #3 of 5 part series on youtube.  His uncle talks on this video.  They talk about the highs and lows of his business. They talk about his time when he was 21 years old and had hit rock bottom in his mind.   They show parts from his seminars and events.  It talks about finding the power within ourselves.   There is a small segment with his mom on here.  There is a small part with his first wife and how she was in his audience.  They show some of his mental exercises and show some of his audiences.

Minnesota Foreclosure Timeline How Does it work

(My Original Blog Post: http://ping.fm/haVjH)
 

Know anyone in foreclosure right now in Minnesota? here is a minnesota timeline I found the other day...

Here is a diagram: http://ping.fm/kPXOj

Let’s first go over the original loan that the buyer (borrower) at the time received when they initially purchased the property at the closing table.During the initial loan process, the 2 items the buyer signed at the actual closing with the title company were:

1: The Promissory Note: This document does outline the terms of the agreement made between the buyer and the lending bank. By signing this document, The borrower promises to repay the bank the debt. Promissory notes will almost always include a default provision that would enable the bank to charge the buyer for any late payments along the way.

2: The Mortgage: After the promissory note is signed, the borrower then gives the bank a mortgage and he/she(buyer) becomes the mortgagor and the bank becomes the mortgagee. This mortgage document will contain the following provisions:

• Acceleration Clause upon default: this provision would give the lender the right to seize the property if the borrower were not to honor the terms of the promissory note. This right, that the borrower has, would end as soon as the borrower cures the default by catching up on any delinquent amount in the arrears, if the buyer refinances, or if the buyer sells the property and pays off the loan.
  


• Due On Sale Clause: this provision would give the bank the right to call the loan due upon the transfer or (conveyance) in the property. The lender does have the right to do this per the provision in writing, but doesn’t always enforce it.
  


• Mortgage Covenants: these covenants known as rules or (promises) force the borrower to do certain things such as: make sure the property is insured and keep the property in good repair, pay property taxes, essentially it’s in there to protect the lender.

What then is considered default status?

The mortgagor is required to make the agreed upon payments on a monthly basis; however, a typical real estate mortgage would include terms requiring the mortgagor (borrower) to do more than just make the agreed upon payments. Such as, the mortgagor is required to maintain property insurance on the property, pay all real estate taxes that become due, and maintain the property for the benefit of the mortgagor and the mortgagee (lender) which was just stated above. In addition, the mortgage may include a provision that would prohibit the sale of all or of any portion of the property without the prior written consent of the mortgagee. These provision, as mentioned above, would be the due on sale clause. If the mortgagor would fail to abide by any of the terms in the mortgage, he or she (by definition) is in default status. Most real estate mortgages would have a “Power of Sale Clause” that would give the mortgagee the ability to legally take possession of the property.

Under Minnesota law, there are two methods of foreclosing a real estate mortgage:

Foreclosure by Advertisement (Non Judicial) (most common method)

To initiate a foreclosure by advertisement in Minnesota, the creditor(lender) would need to prepare what is referred to as a “Notice of Mortgage Foreclosure Sale”. This notice must specify in writing, the name of the mortgagor, the mortgagee, as well as the original principal amount that is secured by the mortgage, the date the mortgage was originated, the amount the lender claims to be due on the mortgage including taxes paid by the mortgagee, when and where the mortgage was recorded, a description of the mortgaged property, the time and place the sale will take place, and the time that will be allowed by Minnesota law for redemption by the mortgagor. When this notice has been prepared by the creditor, it must be published in a “qualified” newspaper in the same county in which the foreclosing property is located for a period of at least six weeks prior to the sheriff sale. After the foreclosure notice has been prepared and the publication (advertisement) has now begun. The debtor may have the right to reinstate the mortgage. This right the borrower(debtor) has to reinstate is. to be guaranteed by actual Minnesota law even though the creditor/lender may have already accelerated the balance due under the mortgage prior to the initiation of foreclosure proceedings. For the borrower to reinstate the mortgage, the borrower must pay to the mortgagee the amount of the default at the time the mortgage foreclosure proceedings were first initiated plus all accrued costs of foreclosure up to the date of reinstatement, this would include half of any attorney’s fees allowed by law or $150, whichever is greater. If the borrower were to reinstates the mortgage that they are behind on, the foreclosure proceeding would stop at that point, but to reinstate the mortgage, the required back payments in arrears must be paid prior to the sheriff’s sale taking place. I wouldn’t recommend waiting until the last minute on this.

2) Foreclosure by Action (Judicial) (Very rare method in Minnesota)

To initiate a foreclosure by action in Minnesota, a summons and complaint would need to be served according to the “Minnesota Rules of Civil Procedure”. The complaint would name as it’s defendants, all current owners of the property, any other lien holders, and those with any right to possession of all or even a portion of the premises. If no party were to defend the action, then the mortgagee may obtain from the court that it be deemed a valid mortgage. If any of the defendants object, a trial may be necessary to establish the right of the mortgagee to whom will foreclose. Once the court has made its decision, the sheriff would then publish a notice of sale for a six-week period of time.

If the debtor (borrower) is a resident of the county in which the mortgaged property is located, a copy of this judgment of the court and in addition the sheriff’s notice of sale must be served to the the one in debt (borrower). After serving the notice of sale on this debtor, the sheriff must post the notice of sale for the six weeks. At the sheriff sale, the sheriff may sell the property only to cash bidders, except for the mortgagee, which can bid (pledge) its total mortgage and debt. Following this sheriff sale, the sheriff would report the sale to the court, which would then confirm the sale.

Once the court has confirmed this sale, at that point the statutory period of redemption for the debtor would then begin. The time periods for redemption of a foreclosure in Minnesota are the same as for foreclosure by Advertisement. Under either method of foreclosure in Minnesota, any junior lien holders may redeem at the foreclosure sale if the mortgagor fails to redeem. These junior lien holders may redeem if, before the expiration of the mortgagor’s redemption period, they have filed for record, a “notice of intention to redeem”.

The junior lien holders are each given a period of five days within which to redeem the property, and this is based on the priority of their claims or liens on the property (the recorded order) in most all cases, against the property. If the amount that is realized at the sale turns out to be less than the amount due on the underlying debt, the creditor may then be able to obtain a deficiency judgment against the mortgagor, but if the statutory redemption period is six months (very standard) a deficiency judgment can be obtained against the mortgagor “only” if foreclosure was by action. No deficiency judgment can be obtained against a mortgagor, if the “redemption period is six months”, and “foreclosure was by advertisement”. If the redemption period is twelve months, a deficiency judgment could be sought after the borrower.

The Redemption Period:
The redemption period is the time immediately following the Sheriff Sale. During the redemption period the mortgage on the home is no longer valid and the lender will not accept anything, but full payment of the loan. This leaves the homeowner with two options at this point: either sell the property or refinance the property. The mortgagor must redeem within six months of the date of the sale unless one or more of the following did apply, in which case the redemption period can be up to twelve months:

-The mortgage was executed prior to July 1, 1967. • The amount claimed due and owing as of the date of the notice of foreclosure sale is less than 66-2/3 percent of the original principal amount secured by the mortgage. • The mortgage was executed prior to July 1, 1987, and the mortgaged property, as of the date of the execution of the mortgage, exceeded ten acres in size.

-The mortgage was executed prior to August 1, 1994, and the mortgaged property, as of the date of the execution of the mortgage, exceeded ten acres but did not exceed 40 acres in size and was in agricultural use as defined by Minnesota statute. • The mortgaged property, as of the date of the execution of the mortgage, exceeded 40 acres in size. • The mortgage was executed on or after August 1, 1994, and the mortgaged property, as of the date of the execution of the mortgage, exceeded ten acres but did not exceed 40 acres in size and was in agricultural use, as defined by Minnesota statute.

30+ Properties Now Available 3-19-2008

(My Original Blog Post: http://www.minnesotainvestors.com/blog/3-19-2008-properties/)
Here are a list of over 30 houses right now, mostly non mls that friends who are sellers of mine would like to sell, at a very good discount. If interested at all, please email me ron@minnesotainvestors.com 763-300-1648

 

Blaine-3501 125th  3 bdrm/3 Bath with a loft 2445 FSF .   with an unfinished basement.   $325,000 is the price.  This property is Non MLS.  At the time the builder started to build these homes the first three homes were showing comps of around 500k. The builder says if someone wants to build he can use these prices This house has many upgrades throughout.  The sales terms are as follows: For Sale or Contract for Deed, with a Minimum of 5% down for contract for deed buyers.  The price, if sold on a c/d will be more then compared to a regular financing sale.  Photo : 1 2 3 4

Blaine-3517 125 th  4 bdrm/3 Bath ----2445 finished square feet pricing of only $325,000  -- with unfinished basement.  – The price will be more if the property is sold on a c/d then if you were to buy with regular bank or FHA financing.  At the time the builder started building these homes the first three homes were showing compass at around 500k. The builder says if someone wants to build he can use these prices. This property is Non MLS, not listed at this time- There are many upgrades in this property.  You can buy this property For Sale with financing, or on a Contract for Deed, Minimum 5% down for c/d buyers.  Photo : 1 2 3 4

Blaine-12548 Quemoy 4 bedroom-3bath  ---2700 fsf    price of $325,000  .  At the time the builder started to build these homes the first three homes were showing comps of around $500,000. The builder says if someone wants to build he can use these prices.   This house has a finished basement with many upgrades.  This property is For Sale with financing or on a Contract for Deed, with a Minimum of 5% down for c/d buyers, and the price is more on a c/d then for a regular financing sale.This is Non MLS Photo : 1 2 3 4

Blaine-12552 Quemoy 2 bedroom-2 bath 1405finished square feed with an unfinished basement --$274,900 with unfinished basement.  This property is For Sale with financing or for sale on a Contract for Deed, Minimum of 5% down for contract for deed buyers, and the price is more on a c/d then for a regular financing sale. This property is Non- MLS, and not listed. Photo : 1 2 3 4

 

Ramsey Townhome  Photos 1 2  

THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME!
$114,999
2 bedroom 2 bathroom maintained townhome
townhome is less than 3 years old
custom blinds
upgraded lighting
walk in closets
faces a well maintained courtyard
oversized 1 car garage
private patio and walk in closets
lawncare
water/sewer
garbage/recycle removal
snow removal
Maple cabinets & woodwork
deck
extra storage in garage
open floor plan
laundry near bedrooms.

 

 

14801 Xkimo Street NW , Ramsey, MN 55303 Photo

Status: Active List Price:  $164,900-Original List Price: $187,900

THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME!

School District:  11 - Anoka-Hennepin-763-506-1000

Public Remarks:  Beautiful Rivers Bend area. Sunken living room w/fireplace, , front friendship porch, eat in kitchen & pass through dining, wonderful private yard with fence, many mature trees/shrubs, bay window in kitchen. Large basement, vaulted ceilings, walk-in master closet.  Owner is not an agent.  Four or more level split, 1036 foundation, 343 below ground, 1379 total square feet.  Tax amount $2439, asses. Bal $36, homesteaded, lot size W90*143*90*141 Legal Description: LOT 22 BLK 3 RIVERS BEND SUBJ TO EASE OF REC

 

2834 117th Lane NE , Blaine, MN 55449  6 bedroom, 5 bathroom, 3car, 2005 built  Two Years Ago 1.4 Appraisal  $674,900 Active List Price THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME! Legal Description: LOT 3 BLK 12 THE LAKES OF RADISSON 3RD ADD, SUBJ TO EASE OF REC  School  District:  11 - Anoka-Hennepin-763-506-1000
Public Remarks: This fantastic home on Sunrise Lake has a wall of windows looking onto the lake w/the finest cherrywood detail throughout. Marble floors w/unique designs on main level! Magnificent master bdrm w/fplc. Sit and enjoy the views from your sunroom and deck.  Photo

 

1112 Pierce St NE MPLS

4 Bedroom 2 Bath all rehabbed

THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME!

Appraised near the beginning of this year @ 260k selling at 183K ($77,000 below appraisal)

This property is rehabbed with tile kitchens and baths & new appliances

Rented at $1200/month  Photo 1

 

2629 University Ave NE

4 Bedroom, 2 Bath all rehabbed

THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME!

Appraised near the beginning of this year @ 260k I need  183K ($77,000 below appraisal)

This property is rehabbed with tile kitchens and baths & new appliances

Currently Rented at $1400/month.  Photos 1 2

 

2621 Aldrich Ave S Minneapolis (uptown) 2 bedroom all rehabbed,

Appraised near the beginning of this year @ 278k I need 193k ($85,000 below appraisal)

THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME!

This house has been rehabbed with tile kitchens, baths & new appliances

Currently Rented at $1100/month. 

 

Triplex Hopkins all rented out at a total of $1800 month. This triplex is selling at $253k and has a $355k appraisal. ($102,000 below appraisal) The Appraisal is available upon request for serious inquiries. THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME.  Photos 1 2 3

 

11xx 8th St SE, Minneapolis-$600k price, $4800/mo rent  $394.90/mo taxes  $210.04/mo insurance.  THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME!  All of these properties are turn-key. You will not have to put a dime into them.

There are very few unfinished areas for growth in rent.  The rents are low as you

for the area.  Seller has been busy with his construction company and not wanting to

battle to rent them.  They rent on the 1st to 3rd showing at these prices.  So

you could push the rents if you took more time. Seller does not NEED to get rid of these places. He is hoping to do a project in the area and would LIKE the capital to do it.

It would make his financing easier. He may make the sales part of a 1031 tax deferred exchange.  He is looking to buy a new company and needs some cash for that.  See Photos

 

 

 

11xx 17th Ave SE, Mpls  $290k price  $2450/mo rent, $262.46/mo taxes, $102.55/mo insurance

going on market the week of 2/23 have many interested parties

THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME!

All of these properties are turn-key. You will not have to put a dime into them.

There are very few unfinished areas for growth in rent.  The rents are low as you

for the area.  Seller has been busy with his construction company and not wanting to

battle to rent them.  They rent on the 1st to 3rd showing at these prices.  So

you could push the rents if you took more time. Seller does not NEED to get rid of these places. He is hoping to do a project in the area and would LIKE the capital to do it.

It would make his financing easier. He may make the sales part of a 1031 tax deferred exchange.  He is looking to buy a new company and needs some cash for that.

See Photos

 

8xx 19th Ave SE, Mpls  $235k price, $1800/mo rent, $241.40/mo taxes, $95.33/mo insurance

THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME!

All of these properties are turn-key. You will not have to put a dime into them.

There are very few unfinished areas for growth in rent.  The rents are low as you

for the area.  Seller has been busy with his construction company and not wanting to

battle to rent them.  They rent on the 1st to 3rd showing at these prices.  So

you could push the rents if you took more time. Seller does not NEED to get rid of these places. He is hoping to do a project in the area and would LIKE the capital to do it.

It would make his financing easier. He may make the sales part of a 1031 tax deferred exchange.  He is looking to buy a new company and needs some cash for that.  See Photos

 

       

10xx-10xx 24th Ave SE, Mpls  $335k price, $2650/mo rent, $298.16/mo taxes, $128.38/mo insurance. THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME!  All of these properties are turn-key. You will not have to put a dime into them.

There are very few unfinished areas for growth in rent.  The rents are low as you

for the area.  Seller has been busy with his construction company and not wanting to

battle to rent them.  They rent on the 1st to 3rd showing at these prices.  So

you could push the rents if you took more time. Seller does not NEED to get rid of these places. He is hoping to do a project in the area and would LIKE the capital to do it.

It would make his financing easier. He may make the sales part of a 1031 tax deferred exchange.  He is looking to buy a new company and needs some cash for that.   See Photos

 

10xx 25th Ave SE, Mpls,  $335k price, $2650/mo rent, $299.86/mo taxes, $124.11 insurance

The rents are low as you for the area.  Seller has been busy with his construction company and not wanting to battle to rent them.  They rent on the 1st to 3rd showing at these prices.  So you could push the rents if you took more time. Seller does not NEED to get rid of these places. He is hoping to do a project in the area and would LIKE the capital to do it.  It would make his financing easier. He may make the sales part of a 1031 tax deferred exchange.  He is looking to buy a new company and needs some cash for that.  THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME!  All of these properties are turn-key. You will not have to put a dime into them.  There are very few unfinished areas for growth in rent.  See Photos

  

8xx 27th Ave SE, Mpls, $215k price, $1700/mo rent, $233.29/mo taxes, $103.42/mo insurance

All of these properties are turn-key. You will not have to put a dime into them. There are very few unfinished areas for growth in rent.  The rents are low as you for the area.  Seller has been busy with his construction company and not wanting to battle to rent them.  They rent on the 1st to 3rd showing at these prices.  So you could push the rents if you took more time. Seller does not NEED to get rid of these places. He is hoping to do a project in the area and would LIKE the capital to do it.  It would make his financing easier. He may make the sales part of a 1031 tax deferred exchange.  He is looking to buy a new company and needs some cash for that.  THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME!   See Photos

 

8xx-8xx 24th Ave SE, Mpls  $450k price, $3500/mo rent, $338.96/mo taxes, $92.23/mo insurance

THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME! All of these properties are turn-key. You will not have to put a dime into them.  There are very few unfinished areas for growth in rent.  The rents are low as you for the area.  Seller has been busy with his construction company and not wanting to battle to rent them.  They rent on the 1st to 3rd showing at these prices.  So you could push the rents if you took more time. Seller does not NEED to get rid of these places. He is hoping to do a project in the area and would LIKE the capital to do it.  It would make his financing easier. He may make the sales part of a 1031 tax deferred exchange.  He is looking to buy a new company and needs some cash for that.  See Photos

 

11xx 23rd Ave SE, Minneapolis  $290k price  $2,450.00/mo rent  $165.31/mo taxes, $86.19/mo insurance.  THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME! All of these properties are turn-key. You will not have to put a dime into them.

There are very few unfinished areas for growth in rent.  They rent on the 1st to 3rd showing at these prices.  So you could push the rents if you took more time. Seller does not NEED to get rid of these places. He is hoping to do a project in the area and would LIKE the capital to do it.  It would make his financing easier. He may make the sales part of a 1031 tax deferred exchange.  He is looking to buy a new company and needs some cash for that.  All of these properties are turn-key. You will not have to put a dime into them.  There are very few unfinished areas for growth in rent.  The rents are low as you

for the area.  Seller has been busy with his construction company and not wanting to

battle to rent them.  See Photos

 

10xx 17th Ave SE, Mpls  $300k price,  $2600/mo rent, $45.53/mo taxes, $54.28/mo insurance

Sold pending inspection 2/23    THIS IS NOT AVAILABLE ON CONTRACT FOR DEED OR RENT TO OWN AT THIS TIME!  All of these properties are turn-key. You will not have to put a dime into them.  There are very few unfinished areas for growth in rent.  The rents are low as you for the area.  Seller has been busy with his construction company and not wanting to battle to rent them.  They rent on the 1st to 3rd showing at these prices. 

So you could push the rents if you took more time. Seller does not NEED to get rid of these places. He is hoping to do a project in the area and would LIKE the capital to do it.

It would make his financing easier.  He may make the sales part of a 1031 tax deferred exchange.  He is looking to buy a new company and needs some cash for that.   See Photos

 

The seller has provided a cash flow example (email me for other properties)

Example 1:

With 25% down they will have very good cash flow.  The way I have priced them is if a person could 100% finance them they would still make $300-$400 per month.  Example

5 bedroom, 2 bath

Rents for $2500/month, renters pay ALL utilities!

Price $290,000 should be about $2100 per month cost to owner PITI

Cash flow $400/month no money down

It they put down 25% they would have a lot more cash flow in a great area!!

25% down should be $900/month cash flow

 

Example 2:

3br/2ba per side

Rents are $2800/month, owner has to pay water, sewer, trash of about $125/month

Cash flow $375/month no money down

Price is $335,000 should be about $2400 per month cost to owner PITI plus the $125 for w,s,t  $2525/m

25% down should be $875/month cash flow

  The seller has many more u of m properties available, email me for details

 

3311 Colfax Ave N See Flyer

$65,000

good condition

1.5 Yr History Pays Well. Potential Long Term tenant

$924/mo insurance

$1336/taxes

$1150 paid in rent per month

 

3330 Newton Ave N  See Flyer

$65,000

good condition

Sect 8 Covers entire rent. Potential Long Term. Seller pays water

$60/misc per month

$924/mo insurance

$1386/taxes

$1213 paid in rent per month

 

3927 Dupont Ave N  See Flyer

$65,000

good condition

Tenant Pays Well. 4 Yr History. Tenant pays 775 Sec 8 pays 475

$924/mo insurance

$1957/taxes

$1250 paid in rent per month

 

1700 Thomas Ave N

$65,000

good condition

Ask for more details on the tenant situation

$924/mo insurance

$1737/taxes

$1175 paid in rent per month

 

2730 Thomas Ave N

$65,000

$924/mo insurance

$1476/taxes

$987 paid in rent per month

good condition

Ask for more details on the tenant situation

 

3455 Queen Ave N

$65,000

$924/mo insurance

$1803/taxes

$1200 month paid in rent

this property is in good condition

Please Ask for more details on the tenant situation

 

3622 Logan Ave N

$65,000

good condition

Ask for more details on the tenant situation

$1958/taxes

ask about rent

 

311 23rd Ave N

$65,000 Price

This property is in good condition

$924/month for insurance

$1471/taxes annually

$1100 range on rent per month

Ask for more details on the current tenant situation

 

3502 Colfax Ave N

$65,000

$924/mo insurance

$1716/taxes

$1100 range on rent per month

This Property Needs Work

Please Ask for more details on the tenant situation

 

3155 81^st Street East, Inver Grove See Flyer w/Photo

$259,900

Own this house for as low as $1642.67 per month with 5% down

Features:

·         3 Bedrooms (2 on Main Floor)

·         Huge Bedroom or bonus room on lower level

·         Full Bathroom on Main Floor

·         ½ bath on lower level

·         Living Room and Family Room

·         Full Walk out to lake on 1 1/4 Acres

·         Beautiful Oak Floors

·         Living Room with picture windows

·         Eat in Kitchen

·         Screen Porch overlooking the lake

·         2 Car Attached Garage

      And MORE

Short walk to Simley Middle and High School

  $2042.80 Total Projected Payment with Interest of $1707.23, Tax of $340.13 &  Insurance of $60

 

10 Tips How to Get Cold Hard Cash Now Today!

(My Original Blog Post: http://www.minnesotainvestors.com/blog/10-tips-how-to-get-cold-hard-cash-now-today/)
I found 10 tips for real estate, on how to get more money back in this 2009 market, like  rebates, savings, etc. read more...

How would you like to have me show you how to put money in your pocket TODAY within hours?  Put your wallet away, this paragraph not about me selling you anything, this paragraph is about me showing you where the money and savings are, and after you read it, copy and paste it to an email and do all of your friends and family a favor and send it to them so they can SAVE money.  Why am I doing this? Simple, with job losses mounting at  4-5 million+ since Dec. 2007, and nearly 700,00 job losses continuing every month, in addition to millions and millions of foreclosures which will increase as sellers walk away and continue to lose jobs, and with everyone's credit being destroyed in the process, eliminating any real chance at qualifying for a loan today or in the future, most people find themselves with only ONE problem, they NEED money YESTERDAY! People NEED money like they NEED WATER.  If you don't NEED money today, based on the mounting job losses, foreclosures, and store closings coming soon, you better start SAVING now!

Tip #1
http://www.minnesotainvestors.com/blog/money-fast-quick-cash-24-hour-loans/  this page provides lenders, most of which I have used in the past, that will give you money usually right on the spot, within 24 hours, possibly 48 hours. I am talking $3000-$15,000 on average, and the qualifications are very easy in comparisons to home loans.  We all have tried to get a loan for 30-60 days, but this is a quick loan like NOW!  Also for those that are real estate agents and work on commissions, it lists 3 different commission advance companies on the page that pay you in ADVANCE for your commissions, I have used these in the past and many have that money to you within 72 hours, we are talking only hours, not 1-3 months for a closing! This page also provides companies that provide payday type of loans.  email me ron@minnesotainvestors.com for more details

Tip #2
http://www.minnesotainvestors.com/blog/business-credit-bad-credit/
I work with a local team who is getting business credit for people locally within a few weeks and we are talking a lot $20,000 to $500,000 amounts, even up to $1,000,000.  Those with 680+ credit scores will qualify for more and much faster, those with less than 300-680 credit scores may need to take a small step first to bounce up your credit, but business credit loans are still available to you even with poor credit scores, there is an overwhelming response. Again based on this program, put your checkbook away, we want to lend you money the way this is set up. email me ron@minnesotainvestors.com for more details

Tip #3
http://www.minnesotainvestors.com/blog/unsecured-business-lines-credit-tom-kish-teaches/  I have known this guy Tom Kish for years and he is well known for getting you non personal guarantee business loans, some money through this easy credit could be rolling in within weeks from credit cards, he gives you the banks and the tips and secrets on how to do it, you could have the program ASAP if you check out his website which I list on here.  So pay for this with a credit card, apply ASAP, get some business credit and when you get it, pay off what you just ordered on your credit card, so that it doesn't cost you immediate money this month! email me ron@minnesotainvestors.com for more details

Tip #4
http://www.minnesotainvestors.com/blog/rent-lease-option-lease-option-minnesota/ Are you going to be moving out and getting another place to rent or rent to own?  As you know  you need 1st months rent and usually a deposit or more. That money is already spent, what if you worked with one of our agents that did all of the paperwork and showings, etc, and after the agent got done and got you the property they gave you a $100 rebate, that's money in your pocket that otherwise would have been lost. We can't do this with everyone so please tell us about the $100 rebate upfront when you make the phone call. email me ron@minnesotainvestors.com for more details



Tip #5
http://www.minnesotainvestors.com/blog/insurance-claims-step-step-process-part-1/  Maybe you just had a storm and need to make an insurance claim, find out how to get money from the insurance company by reading the step by step of how I have done it this past year. The insurance company takes out your deductible from the insurance proceeds. Get yourself a check this week! email me ron@minnesotainvestors.com for more details

Tip #6
http://www.minnesotainvestors.com/blog/zone-biloxi-mississippi-investments/  This is a government program that wants to provide you up to $365,000 now upfront in incentives. There is private money available for loans/down payments and more.  This is a program where you can become an investor in a hot market. Did I mention up to $365,000 if you do the 5 properties? email me ron@minnesotainvestors.com for more details

Tip #7
http://www.minnesotainvestors.com/blog/mortgage-loan-modifications-how-it-works/ My mortgage modifications article was recently ranked up to #6 on google out of 2.36 million ranked for mortgage modifications.  If we have a professional call your bank and knows what to say, they can get your payment and interest rate down a lot on your current home mortgage, which will reduce your monthly housing expense, and you'll feel that immediately within 30 days in your pocket, what do you have to lose on this? email me ron@minnesotainvestors.com for more details

Tip #8
http://www.minnesotainvestors.com/blog/home-closing-costs-sellers-checklist-closing/  Getting ready to close a home loan soon? Read this article on how closing costs work, and if you learn about the fees than maybe you can save a few hundred dollars negotiating closing costs and you'll need to bring less money to closing, that's cold hard cash in your pocket now! email me ron@minnesotainvestors.com for more details

Tip #9
http://www.minnesotainvestors.com/blog/what-short-sale-information-minnesota-short-sale-process/ Owe too much on your house? 1 in 5 people that have mortgages due, how do you sell? How do you pay for commissions?  We have negotiators that will get paid by the banks to work on helping you sell your home so that you don't have to worry about costs. In addition we may be able to find some solutions on how to get your home appliances sold in the process to give you some moving money for your next place.  email me ron@minnesotainvestors.com for more details

Tip #9
http://www.minnesotainvestors.com/blog/203k-fha-97-ltv-rehab-loan-program/ As of early 2009, up to 60% of all homes being sold are bank owned or lender mediated.  Almost all of these homes need a lot of fixup. In this market $20,000 to $40,000 is common.  Also many of the homes that are missing appliances and other things can't get traditional financing.  Here is a loan program that is funding every month and it provides up to $35,000 in monies for these fixups, that's money in your pocket to start building equity in your dream home. email me ron@minnesotainvestors.com for more details

Tip #10
http://www.minnesotainvestors.com This is the main site where you can follow my writings, articles, websites, get emailed the money saving articles and more, you can submit your info also if you are interested in any of the ideas above, and much more.  email me ron@minnesotainvestors.com for more details