Investing in Real Estate

Why you need a mortgage broker and where to find one

Posted December 1, 2008 by Bernz

A Mortgage Broker is an individual who acts as an intermediary between you (the borrower) and banks or lending companies. A mortgage broker will require a fee or take a commission for his or her services.

mortgage-broker-network1The reason there is such a huge demand for mortgage brokers is because they save borrowers lots of time conducting research and because they have information about loans that borrows might qualify for but might not find out about. Plus, mortgage brokers can save you thousands of dollars by matching you with the right lender.

There is a fee associated with using a mortgage broker. This could be a fee that you or the lender pays. So make sure that one of the first things you ask the mortgage broker is how much he or she is charging and where that money will come from. Sometimes the broker will receive their fee in the form of a commission that requires you to pay an extra point on the amount you borrow. Or you could be charged a flat fee up front. Just make sure that you find out before you hire a broker so that you avoid negative surprises. I recommend you work with Up Front Mortgage Brokers because they disclose their fees and take a professional oath of consumer advocacy in lending practices.

(more…)

Posted in Investing in Real Estate | 1 Comment »

Real Estate Investing for Newbies

Posted November 12, 2008 by Bernz

Lesson One: Avoid the hype

house1Thinking about investing in real estate? If you’ve got the cash or exceptionally good credit now is the right time. Even for beginners. But aside from money there is one other very critical factor to real estate investing. That is education. The more you learn, the less chance you’ll be swindled. The less chance you’ll avoid other mistakes that could cause a huge financial loss.

The internet can be overwhelming for real estate beginners. So my suggestion is that you start out by going to your local library. Go to the reference section and tell the librarian you’re looking for the most current resources for learning how to invest in real estate. The librarian will likely access the library’s online database and point you to a list of magazines, newspapers, and of course books. But be on the look out for DVDs, audio books, and pod casts. Also ask if the library hosts any real estate buying classes, many do.

From there check out the class catalog at community colleges. You’ll want to check the school’s online version because it will list more classes and include those that are taught over the internet. (more…)

Posted in Investing in Real Estate | 5 Comments »


Disclaimer:

All the articles and content written here on Invesmint.com is for general information only and based solely on the authors personal opinions and discretion. It was not and should not be a substitute for professional advice. Visitors of this site (Invesmint.com) are encouraged to seek appropriate professional advice before acting upon the content or information from this site. Again, the content of this website is not a source for professional advice.

INVESMINT.COM hereby excludes liability for any claims, losses, demands, or damages of any kind whatsoever with regard to any information, content, or services provided at our web site, including but not limited to direct, indirect, incidental, or consequential loss or damages, compensatory damages, loss of profits, or data, or otherwise.


Page 4 of 41234