When looking for property investment, people mention about location, property agent or call as real estate agents. With so many people thinking about getting into real estate, and getting into real estate why aren’t there more successful Realtor, or helping property investor make money through buying investment property? Well, there are so much business to go around, so there can only be so many Real Estate Agents. However, that the inherent nature of the business, and how different it is from traditional careers, makes it difficult for the average person to successfully make the transition into the Real Estate Business.
New Real Estate Agents bring a lot of great qualities to the table lots of energy and ambition but they also make a lot of common mistakes. Here are the 7 top mistakes Real Estate Agents Make.

1) No Business Plan or Business Strategy
So many new real estate agents put all their emphasis on which real estate Brokerage they will join when their shiny new license comes in the mail. Why? Because most new real estate agents have never been in business for themselves, they are only worked as employees. They believe that getting into the real estate business is getting a new job. What they are missing is that they are about to go into business for themselves. If you are ever opened the doors to any business, you know that one of the key ingredients is your business plan. Your business plan helps you define where you are going, how you are getting there, and what it’s going to take for you to make your real estate business a success. Here are the essentials of any good business plan: Read more »

What is the new formula that lenders are using? Many mortgage loan owner searching for refinance mortgage loan or new plan on loan repayment. There has been a lot of changes made recently to the formula that lenders use to determine if you ‘qualify’ for a loan modification.

One of the benefits of purchasing the DIYLoanModKit is that we have done many loan modifications, and we continue to do modifications for others. In that time frame, we have learned quite allot about what lenders look for in an income/expense ratio.

You see, most lenders had pretty much settled on a specific formula, which they used as a benchmark to determine whether they would consider modifying a loan. This formula was based on a specific debt-to-income ratio, which was customary in the industry.
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Buying a home with the house foreclosure unit to start you first property investment. House foreclosure is what happens when the home owner failed to pay back the money that they borrowed to buy the house. Lender can take away someone’s property if there are no longer affordable to pay for the home loans. When house foreclosure happens, particular property gets repossessed for the amount that could not be paid on the home loans.

At the point of house foreclosure, the bank mortgage loan or financial institution has possession of the property and usually deals with it. Ownership is moved to the lender. Most of the time, when the lender takes the property their intent is to sell it in the open market. This can happen by either making an agreement with the borrower in pre-foreclosure or they can buy it back at a public auction held by the county.

Home loans lender own those properties that are re-possessed. In other word, bank owned the foreclosure units. Other times the borrower can get out of losing there home when the government gives them a certain allotted time to pay off the remainder of the home loans.

Another option for the buyer is that when they go into foreclosure they sell the home to a 3rd party buyer who then pays the remainder of the loan and it saves the borrower from getting the bad credit. One other option is that a home-buyer buys the home at a public auction. Read more »

Property developer SP Setia Bhd’s sales hit RM1.04bil at June 30, well before its financial year ending Oct 31. President and chief executive officer Tan Sri Liew Kee Sin attributed the success to the company’s 5/95 program which gave various incentives to home buyers and really benefits to first time home buyer.

Due to the overwhelming success of the program, SP Setia Home Loan package have extended it for another three months. As per SP Setia management, SP Setia Home Loan package will not extend the package when it ends. The program started Jan 19 and ends July 19.

The home loan package allows a buyer to pay only an initial 5% of the house price. All legal fees and stamp duties on the sales and purchase agreement are borne by the company (property developer). SP Setia would not extend the package when it ended on July 19.

SP Setia will stop launching new products for a couple of months to focus on building more quality homes. The 5/95 program was initiated by SP Setia but had now been adopted by other property developers into property investment market. Read more »