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16 Aug

Entering the Penny Stock Market

Author: admin  //  Category: Financing, Real Estate

Mortgages now a days are becoming a burden to home owners because interest rates keeps on rising. Common citizens turns to second job or passive income to sustain their mortgage payments because their day jobs are not enough anymore. There comes the stock market. Various ways are there for investing in the stock markets. It could be individual stocks through the mutual funds. Among the investments, low priced securities are known in the stock market all around the world as the penny stocks.

Despite being more volatile and riskier than the traditional stock market, these penny stocks also has a very powerful upside potential. When investor loses in such stock trading, it does not bleed them financially white and on the other hand they offer substantial opportunities for making profits.

However, the investors have to take some precautionary measures. It is always prudent investing only a small percentage of the investment in the penny stock markets as the investments could be very risky. In addition it will also be good following the latest trends in the stock market. Some of the best ways would be following the Wall Street Journal, Barrons, or the Investor’s Business Daily and above all; the Internet.

Here are some of stock market sites that we recommend having a look on

  • Penny Stocks – Grab their newsletter update about the latest penny stock picks advices & tips
  • Stock Market News – Learn from the best stock market experts in the world
  • Penny Stocks – Get tips from the best in the stocks & shares industries

In addition; it would be good reviewing over-the-counter stock market and make a little research before making any investments. Reviewing the stocks on the major indexes and looking for the low priced companies would be the best course for anyone desirous of making good in penny stock market. Such research is also important because sometimes previously high priced companies often fell in the penny stock territories due to shock failure of its investments.

Another good step would be opening an account with a reputable and reliable online brokerage firm and buy or sell shares through it. However, the investor should always keep a copy of all purchase confirmations for tax records and determination of capital gains and loss.

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05 Dec

How to Collect Unemployment Funds Every Week

Author: admin  //  Category: Financing, Tips

Every state has a specific set or rules and procedures to which you need to adhere when you are filing a claim for the unemployment funds. Hence, there are a set of questions that you need to ask yourself after you have applied for your initial claim like how would you be getting your unemployment benefits and how would you be requesting payments. As regards receiving your unemployment benefits, a number of states encourage the people to file a new unemployment claim by means of filling an online form or through a telephonic conversation as well. Nevertheless, there are states that would ask you to file an application personally as well.

During the periods when the state economy is experiencing a high rate of unemployment, you will have to expect the phone lines getting quite busy due to which you may have to wait in long queue and in the very same manner the processing of the online applications take a longer period of time. Hence, there is no more paper checks involved in some of the states.

On a general basis, the unemployment funds or a-kasser are paid by two ways by the state agencies. The very first method is of direct deposit. Therefore, the bi-weekly or weekly payments of benefits are paid directly into your account as soon as you specify the details of them. The second method is through special debit cards. A number of states deposit the payment of the funds to an account that is associated to a special kind of debit card that you would activate in the very same manner like you activate any other general debit card. Hence, in case your state uses the same kind of payment tool, so as soon as you file the claim for unemployment benefit, and your claim gets approved, you would be receiving your debit card and the directions for accessing the funds at the ATMs or by some other methods.

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28 Apr

Where Do Real Estate Investors Find Great Buys on Property?

Author: admin  //  Category: Financing, Real Estate
Copyright 2006 National Real Estate Network LLC

The answer in one word is: UGLY. You need to have a motivated seller (DON’T WANTER) and property that is ugly. Great buys in real estate are in rough condition. I can count the nice properties on one hand that I got great buys in over the years. I am talking about thousands of properties. So if you have not guessed it yet, if you get in this business you are going to need to be in the rehabilitation of property business. What do I mean by ugly:
a. Weeds two feet high in the yard
b. Gutters hanging down from the house
c. Holes in the roof are good
d. Maintenance neglected
e. Out dated kitchens, shag carpet, unpainted walls for 10-20 years
Some of examples of a great buy:

a. “Keep cool indoor pool”. I bought a house in Pontiac once such that when you walked in the front door, the paint was pealing from the walls. The house was full of moisture. When you got to the top of stairs to basement, you ran into crystal clear water. The water was to the top step. Someone had stopped up the floor drains and broken a water pipe. Water was running out of the basement windows. I had no competition on buying this house. We called the water department and had the water turned off at the street. We had the house dried out and got a great buy. The point is that there was little competition to buy this home. They could not see past the water coming out of basement windows. This was a foreclosed property and the bank was a motivated seller.
b. “A little smell” I purchased a house where the owner had a dump truck load of sand poured into the basement. The sand was for a permanent litter box for her 25 cats. I had to take my clothes off in the garage when I got home. Again, I had no competition on the buy. The rehab on this house was labor intense.
c. “Moving walls” In this house, you opened the door and roaches fall on you or better said, “the walls move”. Again, the competition fell away- this required an exterminator and all was well.
d. Also look for backed up sewers, fleas, houses full of trash, as things to look for when looking for a great buys.
This business requires hard work but the rewards can be great. The majority of properties that people donate to charities meet the above conditions. There are great buys in real estate but it requires investors with a talent to restore the homes to a classic condition. Restoring homes, and putting them back in great shape, is for me, part of a process of fulfilling the American dream for homeowners and is what I love most about this business. The investors who look and see fully restored homes instead of the above are ones that get the great buys on homes they otherwise couldn’t afford. If you are new investor, I recommend you focus on the lighter rehabs, paint and carpet changes for example. Some of the examples above were light rehabs they just had obstacles that others could not see past.
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20 Apr

Why You Need to Get a Professional Appraiser

Author: admin  //  Category: Financing, General Questions, Real Estate
In the world of commercial real estate, not all appraisers are considered equal. It takes a certain expertise and knowledge to correctly appraise commercial property, and not just anybody is qualified. There are two types of appraisers, a fee appraiser and a staff appraiser. A fee appraiser is generally available to the public for hire, and a staff appraiser works for a specific lender or lending firm.
The appraiser that you hire for your commercial investments before you buy can have a great impact on the amount of money you spend and your chances of getting funding from a lender. Most lenders will not accept just any appraiser. So, if you get an appraisal with an appraiser that a lender does not accept, you have just wasted your time and money, and you are no closer to getting the property you want.
Let’s look at what makes a qualified appraiser, and who it is you want to hire to evaluate your potential investment.
It is common practice for a lender to appoint the appraiser that is to appraise the property in question. This practice is in place because there are dishonest buyers who work with certain appraisers that will inflate the property’s true value. This, in turn, allows the buyer to borrow more money than what a lender would normally allow, thus increasing the lender’s risk.
Inflating a property’s true market value is surprisingly easy because appraisals are simply guesstimates of a property’s true market value. They are interpretations based on the surrounding property and selected criteria. An appraisal can be “fixed” according to a person’s interest. That is why the two parties must not have any prior dealings or common interest in the subject property.
A very widely used and accepted type of appraiser is one that is certified by the American Institute of Real Estate Appraisers. They are members, making them M.A.I. designated. Most lenders will require that you use only an MAI appraiser. These MAI appraisers have gone through intense study, years of practice, and have had to perform under tight supervision while appraising many different properties.
Most MAI appraisers will not conspire with a borrower because there is too much to lose and too much invested in their practice. For this reason, most lenders will accept MAI appraisals regardless of whether or not they know the appraiser personally. For the most part, lenders will have trusted appraisers that they work with all the time, and will require that you use only their appraisers. Be sure to get clarification on this issue before you hire an appraiser because you do not want to pay for two!
An MAI appraisal costs more than a non-MAI appraisal because of the added expertise and experience of the appraiser. In fact, the cost for a single appraisal can run from $2,000-$5,000, or two to three times the cost of a fee appraiser. Be sure to include this in your total cost of purchasing the property so you are prepared to cover the cost.
If you have been in the commercial real estate business for a while, you may have a few lenders and appraisers that you work with often. They may even be considered as part of your team. This can greatly increase your productivity because you have professionals at your fingertips to get many properties handled quickly, if necessary.
You can trust MAI appraisers to perform an accurate evaluation of your prospect property. With this appraisal, you will be able to get the proper amount of money loaned on the property and not come out short.
It is always a good idea to research your appraiser and view some of the work that he or she has done. The appraiser and the appraisals should be of the utmost professional quality because so much is riding on their appraisal. Even if it costs you more money, always use an MAI appraiser to avoid problems with the lender and unnecessary expenditures.
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03 Apr

What to Expect At a Foreclosure Auction

Author: admin  //  Category: Financing, General Questions
Whether you are an investor that would like to get into buying foreclosed homes for your personal use or to flip the property or if you are having your home foreclosed on, you should know what to expect at a foreclosure auction. Of course, the actual steps that will be taken can vary a bit from state to state and from house to house, but it’s good to know what you will be getting into when you go to a foreclosure auction. Foreclosure auctions can be exciting, even fun, but knowing what to expect will help you make the most of the experience, whether you are an investor or a homeowner that is trying to get your house back.
Before the Auction
You’ll likely find out about the foreclosure auction in a local newspaper and on the flier may be information to pre-qualify for bidding. This will allow you to put down a deposit so that the auctioneer knows that you are a serious bidder and can fulfill your bid if you are the winning bidder. Being pre-qualified just sort of speeds up the process so that you don’t have to mess around with the deposit on the day of the auction. During this time you should also do some research on the house by looking into any liens that may be against the property, how much the property is worth, how much it has appreciated in the last few years, as well as property values in the area. If the home looks as though it will need some repairs, you should consider this as well when trying to come up with how much you will be willing to pay for the house. Without this research, no amount of knowledge about what goes on at a foreclosure option will help you because you won’t know where to start when it comes to actually making a good bid.
What Happens At the Auction
The auction will typically start with the auctioneer reading legal notices as well as a legal description of the property. The auctioneer will usually then begin taking bids on the property. If the auctioneer has pre-qualified bidders the process is more streamlined, if not, each time a bid is made the auctioneer will then ask for the bidders deposit check, which is typically right around $5,000 for residential auctions. After each bid the auctioneer will attempt to solicit bids for higher amounts. Each auction is different, but the auction increments usually are set by the auctioneer and may be by $100, $500, or $1,000 per bid. The auctioneer will continue to solicit bids by this increment until it is clear that the highest bid has been reached. Then, the auctioneer will announce, “Going once, going twice, three times, sold!” indicating that the auction is over and the property has been sold to the highest bidder.
Once the bidding has ended a foreclosure deed and purchase papers will be drawn up and validated by the new owner or purchaser and the mortgage holder. A grace will likely be given to allow the purchaser to find financing or to come up with the funds to cover the full amount of the bid. This grace period is usually 30 days unless the purchaser and the mortgage holder agree to other terms. After the grace period a closing will take place, so that the new owner can formally take the title to the property.
What Happens, Now?
The purchaser can do what he or she intended to do with the property, whether it is to move into the home or to sell it for full market value. The money paid by the purchaser will be distributed in order of priority, first of which would be taxes. After taxes money will be paid to the mortgage, then the second and third mortgage if applicable. If there is still money after paying these debts, remaining money will be paid to lien holders and creditors. There is a very slim chance that there will be money left over after all of the debts are paid, if this is the case then the monies will be paid to the former home owner.
What about the Original Owner?
The original owner will often be at the auction so that they can bid on their home, and this is legal as long as they have the deposit required. If the owner of the home that has been foreclosed does bid on the home they must remember that the deposit is not refundable and the deposit assumes that they will be able to finance the home within the grace period. Owners must also remember that if they buy the property back old debts may merge and become reinstated such as second and third mortgages that became void when the first mortgage foreclosed on the property unless one has filed bankruptcy and is truly free and clear of these debts. Owners will often drum up the funds to make the deposit so that they can have another 30 days to try to save their home. Owners may or may not be successful in their attempts to save their home at a foreclosure auction.
As you can see, there are a lot of things that go into a foreclosure auction, but none of them are all that difficult to understand, but knowing about them makes the auction more enjoyable. The auction itself is not all that complicated, but it can be very fast paced. At some foreclosure auctions there are a lot of people, at others there are only a few because of the location or just the debts attached to the property, or even the state of the property. If you are serious about the property you should pay close attention when bidding starts so that you are sure that you can get your bid in when you feel it’s time so that you have the best chance of being the top bidder.
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