Mobile Home Investing

If you’re looking for a great way to make some extra money as a second income, or to find a way to earn a first income in this difficult economy, then you may want to give some consideration to mobile home investing. Though real estate investing can be a venture that makes many people nervous, this is not as true of investing in mobile homes as long as you educate yourself and know what you’re doing.

The key to making money through home investing is to be prepared to make the choices necessary to get as much cash out of a deal as possible. This may include making outlandish offers on manufactured homes that are for sale. In fact, many investors believe that if the first offer you make doesn’t turn your cheeks pink, then you’ve offered too much money. This can make the difference of thousands of dollars in profit when all is said and done.

There are some important tips when you’re looking at a potential mobile home investing opportunity. For example, the seller should always have title to a home that you will be buying. As mobile homes will generally have a title instead of a deed, you will want to make sure that the seller can provide that document in their name or you should simply continue on to the next opportunity.

Check into the placement of the home. Make sure that the land either comes with the home or that it can remain within the same community after the sale. Home investing becomes much more difficult when you are trying to sell a manufactured home that will need to be moved, since it is complex and costly to the buyer. Speak to the manager of the community to be sure that having the home remain will not be an issue.

The manager of the mobile home community will actually be able to help you in a number of ways. For example, if you want to know the honest history of a manufactured home, the manager will be able to let you know a great deal more than the manufactured home dealer or seller ever would.

Mobile Home Investing – Why It Works

I’ve witnessed many real estate cycles over the 21 years I’ve been in real estate. The current real estate market is completely different from three years ago. As you may be experiencing, you have to work harder to find single family residences at wholesale prices. Your profit margins might be a bit tighter than they were too.

I travel throughout the United States and Canada, seeing many markets and trends. The current trend I am seeing is that major markets are experiencing price appreciation, low inventory levels, increased holding costs (taxes, insurance), and increasing rents for most site built homes. A trend that has occurred before, I believe is on its way again, is detached single family residences are becoming less affordable. When this happens, consumers look for alternative affordable housing options. These consumers will look to town homes, condos and even manufactured houses for more affordable housing options. So, if you are willing to make adjustments in your investment criteria to match this trend, you will be doing more deals and making more profit this year than last.

You might be saying, “I get the whole condo and townhome thing, but mobile homes… REALLY?” Well, let me help you see why. There are many markets where I have found that rents have jumped up so high that many people can’t afford to rent let alone buy. For instance, I’m in Houston, TX this week, where the rents range from $1,000 to $2,000 a month. I have seen this same trend in the markets where I have mobile homes in parks for sale. The people paying this kind of rent have started calling on our homes for sale. Why are they calling? We have manufactured homes in communities where the lot rent is $500 a month. If we rent the mobile home or manufactured home to them for $300 to $600 a month, they are paying less than the rents on an apartment in the same area with fewer square feet, bedrooms, and amenities. We have seen a growing trend in this direction. We get phone calls on a regular basis with people stating, “I would have never considered moving into a manufactured home before, but it is going to cost me less than my current apartment and I get more for my money”. We have become “THE” affordable housing option for these people.

But, there are not that many mobile homes out there… right? Wrong. Most people don’t realize that 10% of the housing units throughout the United States are manufactured homes. Do you see how many opportunities you’ve missed by not considering manufactured homes? Obviously, a place like Manhattan, NY is not going to have many opportunities, but you will find them in the outlying areas. In fact, I was just up in the Boston area. About 15 minutes out in Malden, MA, there were five mobile home parks in about a 10 mile radius of my hotel. The reality is that you will be surprised by how many mobile home parks are out there and the opportunities to profit from doing deals within them.

One way that I survived the frenzy during 2002 to 2006 was by focusing on the property types that other investors would not… a niche if you will. I would focus my attention on mobile homes on land, where the mobile home was noted on the tax records as an improvement, however the way the mobile home was set up on the land was not financeable via FHA. Therefore, the typical FHA buyer would not be able to get a loan on that property, so we would make the necessary repairs and put it on the market for sale. You will find that there are a lot of mobile homes on land that are considered real estate, but they are not FHA or VA financeable. It is another great way to locate property leads that most of your local competition will ignore. Less competition equals better and more deals for you this year. Ironically, they will be receiving the same calls as you for these leads, but they will not do anything with them or they will pass these onto you for free or a small fee.

If you are looking for an alternative investment strategy, consider mobile home investing. It’s a great way to have your dollars working for you with minimal risk. You can have more deals going at one time, due to the minimal cost associated with acquiring and repairing mobile homes. The small investment amount makes your cash on cash returns pretty amazing too. One huge bonus of mobile home investing, I was well prepared to run my first mobile home park when I finally took that leap in my real estate investing career.

Sources of Finance – Second Home Investments

There’s a boom going on and it is towards continued investment in second homes. Of late second home purchases have represented a significant percentage of all homes sold in the developed western world. Of particular note are investment strategies in high-demand holiday or vacation areas and high growth investment locations. Investors are now considering their second homes as better investments than stocks, with many purchasers indicating they planned to buy additional properties within two years to grow their portfolio.

Financing for second home investments has become easier in recent years with financial institutions or lenders recognizing the pattern of property speculation and the need for second home loans to support these initiatives.

Landlords and Mortgages

When considering second home loans at a minimum the lender or financial service organization will want to see proof that you’re actually going to generate decent returns or cash flow from your investment. This will be considered to cover at minimum the majority of the costs or outgoings, but often the profits too. Often, the lender will ask for a business plan or statement of income for the property. You shouldn’t count on your bank taking into account your second home’s estimated rental income into consideration without a track record. You as the purchaser/owner may veer towards optimism, where the bank will veer towards pessimism. Even for a property with a long rental history most professional lenders will only consider 75% to 80% of the value for investment. So it is very important that you consider your sources of finance, the type of finance and the value of finance before you search for property.

There are a number of sources of funds for second home loans that may be considered by investors.

Equity release finance is one such source where mortgage property is used as collateral for additional property funds. In this instance the value of a current property that you own or part own is assessed to determine how much capital is available based on the outstanding mortgage and present value. An extension to your mortgage may then be granted to support new investment initiatives. The benefit of this finance is that it is often cheaper to finance when based on the original mortgage rate.

Second Mortgage finance or second mortgages are the way in which homeowners finance second home purchases. These funds may be used for down payments on 2nd homes, or for home improvements or extensions on primary homes. The benefit to this form of finance is that the finance is often associated with the original mortgage for security and subsequently is often cheaper.

The decision to use equity release investment funds with a mortgage refinance or to apply for a second mortgage for second home loans depends primarily on the needs of your investment and your ability to repay the new loan. If you have a low interest rate and favorable terms on your existing mortgage, you may want to consider a second mortgage for financing the down payment to purchase your investment property.

3 Keys to Getting the Best Home Investment Program

Today there are several different stock programs on the market which will generate analytically picked stocks which are set to go and profitable trends so that you can invest accordingly without needing the experience or time to invest yourself. These programs are modeled after programs which professional traders use to anticipate market data but are available on a home based scale.

All you’ve got to do is invest in the corresponding picks which they generate to make reliable money. Not every home investment program is as good as the next, so here’s what to look for to get the best stock program for the money.

First, look for the home investment program you go with to focus entirely on cheap stocks. Penny stocks perform with much more volatility than greater priced stocks as it takes virtually little trading influence and send them skyrocketing value. Some home investment programs exclusively target cheap stocks for this reason, because if you can find a cheap stock which is set to go on a profitable jump you can make far more money on it than an initially greater valued stock.

Next, go with a home investment program with a money back guarantee on it. Most importantly for the reason for doing this is the fact that it enables you to test the program first hand. This entails getting the program, receiving a handful stock picks, and following their performances along in the market accordingly. I’ve done this with every home investment program I’ve ever used and find it to be the best indication of whether or not this program is worth your money.

You can also check out a user review site or two to learn a thing about the most popular, not to mention the least popular, stock programs on the market. You can learn interesting insights about these programs which you likely never learn from the publisher themselves.

Homeownership Via Home Investment Clubs

A Home Investment Club is the alternative capital development system and income producing resource that brings a halt to home foreclosures, and a restoration to home prices. To make it plainer than that is to understand the expression, your home is your bank! The club is a capital development co-op banking facility that incorporates its members. The members sell their stock among the membership to raise capital to acquire their homes.

The home investment club facilitates the homeownership dream to become a reality and then some…Club members become referral marketers at various levels of operation, and earn referral marketing fee income to pay their home mortgage obligations. Consequently, every individual member can acquire a home, regardless of income, credit, or employment. The clubs earn referral fees that sellers pay enthusiastically, for qualified buyers, with the required down payment and proof of income.

The objectives of the club are: to be a small business incorporation incubator and capitalization resource. Homeowners are indeed small businesses, that are locked down and subjugated by social economic shackles, the biggest being mortgage lenders. Buyers are forced to make a capital investment with wages, which means that they compromise their needs to save money for a down payment, only to lose it all through foreclosure.

There are no home buyers that can guarantee proof of income to qualify for a thirty-year mortgage loan. Quite frankly, the reason why banks aren’t making mortgage loans today is simply because applicants cannot satisfy the proof of income requirements. Could you guarantee payments to any lender for more than a few months? If a home is collateral for the note, how could a lender reclaim property, which is valued more than the amount due, and also keep the buyer’s cash down payment investment?

The only logical solution to this problem is home investment club capital (capitalization) leveraging that legitimizes the homebuyer as a business and develops capital to fund that capital investment. The club facilitates the membership home buying by coordinating the appropriation of leveraged dollars, to pay down the home principal, and any member can literally buy any home of his/her desire. This means that you are wealthy, once you are a member, but membership can be gained only by referral. Having access to this information does not guarantee membership to anyone until you have a sponsor who will incorporate with you.

Annual individual club membership cost one hundred dollars and club Charter ownership costs a total of sixteen thousand dollars, and this can be financed with a down payment of two thousand dollars cash outlay. Club ownership offers the owner our minimum and basic income package of one hundred twenty thousand dollars a year, and there is really no upward limit.
In addition, the benefits package includes a comprehensive family health care plan with dental care, life and disability income protection insurance, a basic family legal protection plan, and home mortgage payments. Club Chapter/Owner Presidents are required to complete a referral marketing business practicum, as part of the sponsorship process.

All Clubs are sponsored by FRIENDSFORLIFE INTERNATIONAL, and are permitted to adopt their individual Trade name, but they can do business as Elegant Living Home Investment club for an extra licensing, and fee. The clubs also provide a continuous community development service, free of charge for a selected number of participants annually. The program is in the club’s Visual Manuel under the headings PDP Oratory Forum.

Each club is a duplication of the business plan as presented in the visual manual book Kiss Your Mortgage Goodbye, and access to club ownership is only available to purchasers of that book. The information enclosed in that book is also about seventy-five percent of the text that goes into individual websites that will be built for each new club. All these memberships and clubs are eligible for small business tax depreciation.

Home Improvement Loans Turn Your Home Into A Paradise

Home is the place where most of our time is spent. It’s the place where we feel most secure. It’s like the fortress which saves us from all the possible troubles that we can have.

These are a few reasons why our home should be at its absolute best. Things which can make it that can be minor or major.

If that is the case with you but you do not have sufficient funds with you to afford home improvement then home improvement loans are tailor made for you.

Home improvement loans are loans which are specifically designed for people who want to make changes to their home but they can not because of their financial standing.

A person may require a home improvement loan to make major or minor changes to their home which may be one of the following.

o Construction of the house

o Adding of a bedroom, kitchen

o Restructuring

o Landscaping the garden

o Adding to the safety of the house

o Electrical and plumbing work

o Renovation

o New furniture

Any work or changes that we make to our home is good for ourselves only as the owners will eventually benefit from the changes that take place in the home.

Benefits of going for home improvement

By going for home improvement we will raise the value of the house which will help us in negotiating a better deal if we want to sell the house.
Home improvement is better than moving to a new home both in financial and emotional terms.
Home improvement provides a lot more satisfaction to the owner of the home.

There are two ways of going for the home improvement loans

Secured home improvement loans is a way where by a borrower will have to provide collateral as a security to the lender which may be any of his assets. Such as borrowers car or his machinery. However if the borrower provides his home as a security this method of home improvement will be known as home equity method of borrowing home improvement loan. By this method we can get loans up to 125% of the property value.

Another method of borrowing home improvement loans is through unsecured means where the borrower does not have to provide any collateral to the lender as an obligation. However the borrower may have to pay a higher rate of interest to cover for the risk factor of the lender.

Home improvement can be required by any body therefore these loans are available to everyone even to people with bad credit. People who have faltered with their payments in the past such as CCJ’s, People in arrears or people who have filled for bankruptcy. Bad credit is determined on the basis of a credit score which is a three digit rating which tells the lenders about the financial credit worthiness of the borrower. A credit score of below 600 usually leads to bad credit.

For applying for home improvement loans all people need is to go online and fill in their personal and loan details form after that the loan decision will be made by the lenders in a day or two.

Benefits of taking home improvement loan through online lenders

o Fast approval of loans

o There are a vast majority of creditors so you can choose your alternatives

o You can apply even if you have bad credit history

o You can borrow up to £75000.

o You can avail a few tax benefits as well.

o With so many creditors you always get the best deal which includes low interest rates and easy repayment schedule.

o While online you can use other services available online like debt calculator, loan calculator etc.

o If you are not sure about anything you can also interact with our experts and discuss your problems.

Home is the place many people worship because for them it is a place where their god is. Therefore we should always keep it as it should be as a temple. “Home sweet home” is how the phrase is and if we keep making the efforts for that then it will keep our life sweet as well.

Fancy A Dream Home Get A Home Improvement Loan

Guess where most people spend their time well it’s their home. No wonder that people would like it to be perfect. So would most of the people as well. A perfect home depends on how an individual wants it to be. Perfection varies from individual to the other.

Most people love their home that’s why it should be perfect in fact it should be reflection of perfection. If you love your home as well than it should be as you want it to be not as it is. If that is the case with you and you want your home to be your paradise but you cannot afford it then a home improvement loan can help you in your quest.

A home improvement loan is basically a loan offered to people who want to make major or minor changes to their home. The changes can be major or minor. Examples of the changes are

o Adding or renovations of new rooms

o Central heating

o Landscaping

o Adding of luxuries like fireplaces or swimming pool

o Plumbing roofing or safety repairs

It could be a minor change or a major change which can completely turn around your home. A home improvement loan offers you an opportunity to make that improvement to turn your home into a dream home.

There are various ways by which an individual can go for a home improvement loan.

Secured home improvement loan in this loan the borrower provides a security to the borrower. The security could be any thing either a car or any other asset of the borrower.

Home equity is another type of secured home improvement loan where the security provided by the borrower can be only his home for which the loan has been taken.

Home improvement is basically an equity loan where the security is essential for the borrowing of the loan. However if the loan amount is under £10000 then an unsecured home improvement loan can be borrowed. An unsecured home improvement loan does not require the borrower to provide any kind of collateral to lender. These loans therefore carry a little higher rate of interest (about 1% – 2%) then the secured loans. This is the result of lender covering up for his risk factor. The usual interest rate is around 11.4% (variable)

Everyone in this world has home even people with bad credit history,
People like, CCJ’s, defaults, arrears, late payments or people who have previously filled for bankruptcy. A credit score is given to all UK people who have previously taken loans. A score of below 600 is the one which causes the bad credit history. A home improvement loan is now available to these people as well.

Applying for loans is easy all the people who want to get the home improvement loan need to do is go online and fill in their requirements after they have found themselves a lender. If approved they will get the loan very quickly.

There are other benefits of home improvement as well which many people do not know about.

o If you go for home improvement it increases the value of the home which helps the owners when the owner wants to sell the house. It often helps in getting a better deal for the home as a furnished home would fetch a better price then an unfurnished one.

o For most people pride is the most important thing and a dream home would be the thing that provides that pride.

o For people with bad credit history it is an opportunity to improve their credit score if they follow the repayment plan as it should be

A home can be the best place to be once you come from your work if it is properly maintained. A poorly maintained house is no good to anybody so a home improvement is an absolute necessity. A home improvement loan is designed for people who are not financially capable of going for home improvement with several benefits by keeping the borrowers financial capabilities in mind.

Tips for Home Improvement Home Equity Loan Financing

No one will argue that increasing the value of your home through home improvement projects
is a great idea. However, large home improvement projects can become quite expensive. Home
improvements lighten your wallet and empty your savings account. Careful planning and
thinking about all your financing options is necessary before beginning your home
improvement project. Below are a few tips for home improvement home equity loan financing to
take into consideration.

Home improvement home equity loans are becoming one of the most popular loans when it comes
to home improvement. Because the interest is deductible from your taxes, It’s a viable tool
for borrowing money. Interest rates on home improvement home equity loans are usually lower
than the interest rates of other types of loans. Another good thing about home improvement
home equity loans is that they are fairly easy to get.

Home improvement home equity loans are great loans for home improvement because the project
can greatly increase the appraisal value of your home. This is a loan that is obtained to be
able to get additional investments for use in the future. Home improvement projects such as
bathroom additions, bedrooms and home extensions can increase the value of a house. However,
some home improvement projects don’t really result in increasing the value of the house. The
construction of a swimming pool is one such project.

Take care when getting a home improvement home equity loan. Don’t forget that the collateral
that you are putting up against the loan is your own house. If you can’t make the payments
and make them on time, you could end up losing your home. You borrowed money for the sole
purpose of improving your house and losing your house would be a disastrous situation

Many people use home improvement home equity loans for other reasons. The money is sometimes
spent finance other expenses such as vacations or everyday needs. Steady appreciation of
their houses is what people rely on to be able to pay for the debt. If the value of their
house depreciates at the end of any period, they are in huge financial hot water. This is
why home improvement home equity loans should be used for the improvement of your home
because the risks of depreciation are lower.

To avoid being indebted because of home improvement projects, these tips for home
improvement home equity loan financing should be kept in mind. Home improvements are a great
way to increase the value of your house but always use your head when getting home
improvement home equity loans to finance these projects.