Living Beaverton - Your guide to everything Beaverton

More and more people are making good money in the world of technology, but don't have any credit history. They make enough money that they buy everything with cash, thinking that by buying their cars and other items in cash would make it easier to get through life. Now, they want to own a home and are finding out that not having a credit history is making it very difficult to get that loan.

This is where owner financing can ...Click here to read the entire blog on this subject

Todd Clark - broker
Kastings & Associates
(503)524-9494
www.IFoundYourNewHome.com
Todd@IFoundYourNewHome.com

Ever wonder why investors seem to find those great deals before anyone else does? The reason is they work with Realtors that specialize in Pre-foreclosure (Short Sales). The reason Pre-foreclosure is so profitable is because the seller usually has waited to long to get a full market value price on their home and still avoid the foreclosure sale by the bank.  I'll let you in on a little secret though. The bank...Click here to read the entire blog on this post.

Todd Clark - broker
Kastings & Associates
(503)524-9494
Todd@IFoundYourNewHome.com
www.IFoundYourNewHome.com

You are now all expecting something amazing, different and so totally impossible that you can't possibly do it in your lifetime.

Nope, this is something that  most anyone can do. If you don't already own a home, buy one today! If you already own a home...Click here to read the entire blog post

Todd Clark - broker
Kastings & Associates
(503)524-9494
Todd@IFoundYourNewHome.com
www.IFoundYourNewHome.com

Congratulations on joining the world of Real Estate by selling your own home. I hope you enjoy it and get everything you want out of the process. By the title and hopefully by the content of this article you will come to understand that ...Click here to read the entire blog post

Todd Clark - broker
Kastings & Associates
(503)524-9494
Todd@IFoundYourNewHome.com
www.IFoundYourNewHome.com

As an investor you will get the unwanted guests eventually. It is just a matter of time, but there are ways to curb your chances of getting them.

Who or what are these unwanted guests I speak of? If you are a landlord and you haven't experienced one of these guests, count your lucky stars. But, if you have, here are a few ways to avoid ...Click here to read the entire blog post

Todd Clark - broker
Kastings & Associates
(503)524-9494
Todd@IFoundYourNewHome.com
www.IFoundYourNewHome.com

You may have heard the phrase don't sweat the small stuff. Well I can tell you the person that said that wasn't selling their home. If you are selling a home you are most likely a buyer also, so why not think like a buyer instead of a seller?...Click here to read the entire the blog post

Todd Clark - broker
Kastings & Associates
(503)524-9494
Todd@IFoundYourNewHome
www.IFoundYourNewHome.com

Every wonder why you get this feeling from your agent? If you are feeling this way, it is not too late to change this opinion. Call your agent, invite them over and have a cup of coffee. When a listing gets old and stale, most of the time it is because of ... Click here to read the rest of this blog

Todd Clark - broker
Kastings & Associates
(503)524-9494
Todd@IFoundYourNewHome.com
www.IFoundYourNewHome.com

Now you own a home and all the benefits that come along with it. One of those benefits is the mortgage tax deduction on your state and federal taxes. Every dime you pay in interest on you mortgage is a deduction off your gross income on your taxes and can mean a tax savings of thousands of dollars.

Most people don't realize on $200,000 loan at 6% in the first year you pay almost $12,000 in interest on your mortgage. If you took that $12,000 and deducted it from you gross income, would that help you year end tax bill to Uncle Sam? You bet it would and no one wants to pay more taxes than they have to.

There are other tax write off that you can get on your home that you couldn't get when renting. Do you want to do some home remodeling to bring up the value of your property? Guess what, Uncle Sam says GREAT! We will give you a tax write off for that too. To find out more about home remodeling and tax deductions, stay tuned for one of my up coming blogs on the subject.

If you are presently renting and considering a home purchase, buying a home for the same dollar amount you are paying in rent isn't comparing apples to apples. If you are paying $800 a month for rent, did you know you could possibly afford up to $1200 a month on a mortgage without a increase in pay? That is correct! Because of the deduction on your taxes, it will actually put more money in your pocket at the end of each month. Making it so you can afford more and you get something to call your own. Something that will increase in value over the years and you are paying your own mortgage off instead of someone else's.

Happy home ownership with a lower tax bill! For more information on all the deductions that your home has to offer, consult your tax advisor.

Todd Clark - broker
Kastings & Associates
(503)524-9494
Todd@IFoundYourNewHome.com
www.IFoundYourNewHome.com

Are you an investor that buys property, fixes it up and then sells it again as quickly as possible? Let me show you why you are throwing thousands of good dollars down your brand new drain.

First of all you bought the property for somewhere from 50-70% of the ARV. (After Rehab Value) This is a wonderful start. Now you will put 10-15% average in to the property to bring it up to 100% market value. This is where most investors make their mistakes and throw away thousands of dollars. It has been usually between 3-6 months since you bought the property and it is now ready to sell.

But wait! You don't want to do this! I suggest you put it up for a lease with an option to buy at the end of 2 years. Here is my logic and why you should do this every time you buy a rehab property. By putting you rehab in a lease option you can make somewhere around $1000 to $2000 per month on rent every month for 2 years. That is usually an extra $12,000 to $15,000 after your mortgage and taxes in that 2 years time. Then you also have the tax advantages at the end of the 2 years. Now, since you have owned the property for 2 years you are now eligible to do a 1031 exchange and have no tax implications. You can take all your profit and put it in to one or two more fixer up properties and start the process all over again.

Avoiding the taxes on the profits from your rehab can save you thousands of dollars every year and as you get more and more properties, they will start to pay for themselves without you having to take out loans for future properties. Why lose 5%-10% of your equity to taxes when all you have to do is lease option it to the next buyer for even more money.

For more information on Lease Options or Rehabbing properties, Feel free to contact me anytime.

Todd Clark - broker
Kastings & Associates
(503)524-9494
Todd@IFoundYourNewHome.com
www.IFoundYourNewHome.com

Foreclosure can is an unfortunate fact of life in the United States. However, as an investor it can be a way to make massive amounts of profit. First thing you need to do is find a Realtor that has negotiated a home that was in pre-foreclosure with a bank. This is the key to finding properties and saving thousands of dollars. If the Realtor has never negotiated with a bank they are less likely to succeed in getting the bank to drop their fees and sell you the property for less than they are owed.

The second reason to find a Realtor who has negotiated with banks is because along with getting a severely discounted price they maybe able to negotiate a discounted interest rate on a loan for that property. The bank doesn't want the property back and they already know what the property is worth, so doing transference of the loan to you at a discounted rate is truly in their best interest. You just have to find someone who knows how to get the banks to say YES and that usually involves making the bank think it was their idea in the first place.

In the early default stages of the loan there are other. If you work with a Realtor who is on the list to find out who is getting the default notices, you will get first opportunity to talk to potential sellers and offer them ways out that don't involve them having a foreclosure on their credit report. Most people at this stage are scared and will listen to most options if they don't think they can get out of trouble on their own. If the home owner thinks it is only a temporary situation, consider coming back in 1 month to see if their situation has changed. The key is not to scare them into selling the property, but offer them options to keep the property. If they truly feel you are there to help and they later decide to sell, they will think of you first to sell to. They want to sell to someone they know and trust and if you have been there the whole time trying to help them, they will ask you first as long as they know you are willing to buy. Explain to any potential seller you are there to help and if they should want to sell in the future, you are willing to buy.

One thing you should do if you buy a property from an owner prior to foreclosure, is to make sure to do a title search and have all liens and encumbrances removed prior to closing on the property. For more information on foreclosures and pre-foreclosures feel free to contact me anytime.

Todd Clark - broker
Kastings & Associates
(503)524-9494
Todd@IFoundYourNewHome.com
www.IFoundYourNewHome.com