What is the process of cash-out refinancing?

1. Your credit rating – Before you can lay your hands upon a cash-out refinance loan, it is necessary that you build a dependable credit portfolio (or borrowing profile). You should display much more maturity and sense of responsibility while taking out a cash-out refinance than otherwise you had at the time of obtaining the original home loans. This is because, to lenders, cash-out refinance loans are riskier than other real estate loans and so, they verify credit histories of the loan applicants like you much more closely.
   
   In this case, having a strong credit history coupled with a good credit score will keep you in a better position as far as your credit worthiness is concerned. Lenders have a minimum credit score requirement and that changes from lender to lender.
   
2. Your home equity – There must be some equity in your home for you to qualify for a cash-out refinance loan. In a cash-out refinancing process, it is essential that you furnish a report of home appraisal to the lender who’ll review it before approving you for the loan. Through the appraiser, lenders get to know of your property’s true market value. According to traditional rule, you can use 80% of your home’s equity to obtain a cash-out refinance loan, but it can be higher depending upon the lender’s risk tolerance.

Finally, cash-out refinance loan will come at a higher price than a rate and term refinance loan. This is because lenders can only foreclose the property in order to recover his loan money but he can’t stop you from walking out of the house after refinancing it.

Read this before opting for a cash-out refinance?

In order to reap maximum benefits out of a cash-out refinance loan, it is important that you take following steps into serious consideration:

• Get well-acquainted with the cash-out refinancing process.
  
• Evaluate all the terms and conditions that are applicable on the refinanced loan.
  
• Find out whether or not you are at all eligible to refinance your home loan.
  
• Determine the break-even point of cash-out refinancing to see if you can make some handsome amount of savings out of the entire process.
  
• Get all the necessary documents ready and send them to the loan underwriters, the moment they request you for the same.
  
• Prepare a logical pitch to make the lenders see reason in your choice of refinancing your home loan.
  
  

Cash-out Refinancing

Did you can consolidate your debts through a cash-out refinance loan. It is a very efficient tool to get debt relief, yet you need to have a proper budget alongside your debt repayment plan in order to make the process a successful one.

Do you understand by the term ‘cash-out refinancing’?

Cash-out refinancing will enable you to access your home’s equity to repay your other unsecured lines of credit. You can even buy something with the excess money. However, you'll have to make an accurate risk-based assessment of whether or not taking advantage of your home’s equity will be a judicious choice, or rather reasonable.

In addition, you must stay prepared to bear some extra costs while trying to refinance their existing home loans. Cash-out refinance loans are costlier than rate and term ones.

The Bottom of the South Florida Real Estate market “Are We There Yet”

With the New Year brings new opportunity and more profitable South Florida investment deals here at quickturnproperties.com. Would you like to know how Investors impacted the South Florida real estate market in 2010? Sure you would, after all 2010 was the ultimate buyers market and the even better news....is that Real estate analysis speculate that we will continue to graze the bottom of market until sometime on 2012. As an investor or aspiring side liner, this should be music to your ears. Investors subscribed to our exclusive email deal alerts have taken full advantage of the market and made big moves in 2010 buying, renovating, reselling or renting our exclusive deals for profit. If your were not one of them. I want to you to know that its not to late to play your card in 2011.

For all that still believe that now is not the time to buy, don't believe the hype! fact is, that more South Florida homes were brought in 2010 than in the 2006 peak of the market. Of course, they we mostly highly discounted foreclosures, Short sales and distressed properties that we sold by owners at a lost. This finding can be supported by the influx of national buyers that have entered the South Florida market gobbling up deals like there is no tomorrow. Yea, that's right, locals aren’t the only ones securing there piece of the pie. Foreign investors reigned heavy and contributed to a significant amount of cash sales in 2010. Now, when I say “Investor sales” we are speaking of sales that closed using “All Cash” with no financing terms. As a wholesale property provider 100% of our sales are brought using all cash or hard money. We will assume that if one is buying using all cash that 90% of the time this means they are purchasing as an investment of some form. Cash sales accounted for approx 40% of real estate sales in South Florida, between Miami - Dade, Broward and Palm Beach county.

Its also my belief that the South Florida Market is settling toward the bottom of our market. Don’t make the mistake of procrastinating, or trying to predict when prices will start to increase. Get in now while prices are low, get you feet wet, and secure a great investment today. Truth is that according to the 2010 census report Miami population grew by 11% over the last 10 years. This tells me that no recession will keep folks away from the South Florida's tropical weather, sandy beaches, and attractive retirement destination. Prices will start to go up again, and when it does, it will be as sudden and as unforeseen as the decline in 2007. Don't get left behind in 2011, Click here to join our exclusive buyers list Today!!

South Florida Wholesale deals on a platter

If you haven't figured out yet, we are in one of the best real estate markets our generation will likely see. Now think about it..... South Florida wholesale homes are selling for just about the same price as they did in the 80's. Now, 2011, here we are, facing a perfect storm of high rate of South Florida foreclosures, and a huge pool of hungry first time home buyers. lets just say that this will last another 2 years before the market recovers. How long would it takes to come back down? My guess is probably about the same as most savvy South Florida investors that Ive spoken with. It could takes about the same amount of time as it took for us to get to this point. We all are ooh to familiar with how history repeats itself. So my question to you is...Can you afford to wait another 30 + years for your next opportunity to create wealth using buy and hold or fix and flips strategies. How old will you be? How old will your children be? I don't know about you, but I wanna be somewhere in the Caribbean enjoying the fruits of my labor. I want my willingness to seize the moment and create cash flow to be realized. Now is the time to start investing in distressed South Florida real estate....Contact me with your buying criteria and investment goals, so I can deliver you great South Florida wholesale deals on a platter. We provide you with wholesale properties in Miami, Broward, and Palm Beach counties. DO IT NOW!!...YES,NOW... Don't make me say "I told you so".

*********We Buy Houses Fast for Cash****************

Greeting Readers,

We buy houses Fast, We buy houses cash, we need more South Florida properties like yesterday!

From time to time I put a little post here on how we can help in your quest to real estate investment goodness. However this post will be a tad different. Everyone here should know that we sell investment properties to cash investors; however for those that may be visiting this site for the first time I want everyone to know that we are actively buying properties and always searching for great deals in the South Florida area. Thats right? Were buying while everyone else is holding there wallet? why, because as investors; we need more properties to keep our business going. Imagine Burger King, with no burgers..that's a terrible thought..lol. No really, we want to help you; if your have a problem property, we are the solution. We don't care the condition, nor the price, we need more properties and are willing and able to close fast for cash. Don't wait, contact us now for a fast cash offer. We have so many investors in our network we can liquidate your property in no time. Now, I know what your thinking right now. How easy is it... Really? Well I will explain to you in plain english how we can help you today. Use the link below to send me a email with your property info and I will reply to you with a no obligation cash offer. If your holding a property that you need to get off your hands, say no more and pick up the phone. No anwsering services here, I pick up my own phone.






~Michelle Murray~

We have your Next Flip!!!!!!!!!!!!!!!!

Are you looking for your next Flip? Or coarse you are, thats why your reading. Well, If your searching for investment homes in the South Florida then your in the right place. Theses days there are a ton of places on the net to find foreclosures, and properties with built in equity. Ask yourself, why buy from a Realtor that does not invest themselves? You wouldn't go to the Dentist if you need braces, gosh, I hope not, you would go to the Orthodontist whom specializes in what you need. Sure, the Dentist may know a little bit about what you need, but could you trust their advice? Maybe? or Maybe not? Here at quickturnproperties.com there will be no question in your mind, we are specialist in the House Flipping business, more specifically, in the South Florida market. We know the Market well, we know the investors that are making money and we know when a deal makes sense and when it doesn't. Is a property best for resale or cash flow rental? What type of repairs does a property need? Theses are all questions investors have and want sound advise and answers to. Let me know you investment goals and I will locate the most profitable wholesale deals to help you attain those goals quickly. Please take a moment to tell me specifically what you are looking for and I will put together a list of deals that fit your criteria.

~Happy investing~

Have you watched the News lately!!!!!!!!!!!!!!

Have you watched the news lately, better yet have you picked up the newspaper. Or maybe your like me, and you read all the breaking stories online. Well, In case you have missed it, its been reported that the U.S Postal service will be cutting 3000 jobs....Yes 3000 jobs. The jobs of working class citizens that depend on their pay checks to feed their families, pay their car note, put their kids through college and most importantly, pay their mortgages. So what does this have to do with real estate. Well if you see where I going with this then your ahead of the curve. It has everything to do with real estate and the reason why your on this site reading this post. Jobs lost equals more foreclosures which means more inventory you to profit from. Now, before you say it, don't get me wrong, This is very very bad news for our economy and the individuals that must endure such a transition. It would be down right unethical for one to jump for joy upon hearing such news, and I'm not suggesting that you should do so. However for you and I, the real estate investors of the world, this can present itself as an opportunity. Think about it....we hear about another company making cuts every time we turn on the tube. My Question to you is...Do you even recognize all of the opportunities that are available to you right now in this down economy? if you just open the door? Do you understand that most opportunities ceased have manifested from an unfortunate turn of events or in light of someone else's misfortune. Cease the moment and take advantage of these opportunities because someone will and it might as well be YOU!!!

Go out and FlIP THAT HOUSE!!

~Michelle Murray~

INVESTORS GET THE GREEN LIGHT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Dropping in to give you the Buzzzz....in case you missed it

Effective February 1 ,2010 FHA will be waiving there 90 day seasoning requirement for financing for one year. So, what's that have to do with you the investor? If you don't know, you haven't been investing in REO's or short sales. And that's ok, you were waiting on the right time. Well, NOW is the time!

Most rehabs are complete within just 2-3 weeks. The investor would have to sit on his/or her hands for 90 days and let the property go through "seasoning". If you already have a end buyer lined up, this meant unnecessary holding cost for monthly payments, maintenance, utilities..etc

Before February 1, 2010, the FHA would not allow your end buyer with an FHA loan to purchase a property that had not been owned by the person on title for less than 90 days. With FHA providing most of the funding for first time home buyers, this gave FHA buyers a disadvantage, and kept the housing market from recovering as fast as it could.

Now that you have the green light...get out there and "FLIP THAT HOUSE"

Of course their are some restrictions. See full details at
http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf


Stay Tuned for more great wholesale deals!!


~Michelle Murray~

Happy Investing!!