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In this month's edition of ForeclosuresMass Monthly, our focus on giving you all the information you need to become a successful investor continues, as we drill down on the topic of creative financing.
That's right, creative. Because while you're no doubt familiar with how most people purchase most properties - go to a bank, apply for a loan, put down a 20% deposit, etc. - you may not realize that there are several other (legal and ethical) ways to finance a purchase, many of which may be better for you - depending on the property and your particular situation.
We begin with an article by regular ForeclosuresMass Monthly contributor George Riley, office manager at Exit Realty Center in Stoughton, and an experienced investor and consultant. George's article, "Financing of Investment Properties: Options, Pitfalls, Recommendations," cuts right to the chase in laying out four different investment strategies - none of which involve borrowing money from a bank.
In our second article, "Seller Financing - An Attractive Option to Traditional Methods," Asheesh Advani, PhD, founder and president of CircleLending, Inc., explains in simple terms what seller financing is, how it benefits the seller, how it benefits the buyer and, perhaps most importantly, what to watch out for in entering into this kind of arrangement.
Our "Interview with the Expert" segment this month is with Trish Signet, Loan Officer with Summit Mortgage. We caught up with Trish at her office in Lexington, and asked her to spend a few minutes on the topic of 100% financing. We asked the questions we thought you'd ask if given the opportunity to chat with a real estate expert on this hot topic. We know you'll find this interview well worth reading.
And finally, we bring you Debbie Siegel's Mortgage Minute, our monthly column in which we explain a critical real estate investing concept. This month, Debbie explains the difference between "Listing Price," "Tax Assessed Value" and "Appraised Value." Although you'll find all three terms used in connection with property value, as Debbie explains, they are in no way synonymous.
That's it for this month - we'll see you next time!
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| Jeremy B. Shapiro | Sheila Farragher-Gemma | |
| Co-Founders, ForeclosuresMass.com | ||
| February 2006 | Financing of Investment Properties » |
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