Escolar Documentos
Profissional Documentos
Cultura Documentos
--
--
By Maniga M. Otep
www.raceandhistory.com
Copyright © 2007
Topics
1. Real Estate Doubles Every 7 Years: The rule of 72
4. If you Can Buy one You can Buy Five!! : Why Buy
Multiple Properties
5. If you Can Buy one You Can Buy Five!! : How to Buy
Multiple Properties
6. CA$HING OUT!!
---------------------------------------------------------------
These are important organizations to know
Tampa City & County Home Grant & Naca
Step 1:
www.thafl.com/depts/CFAH/default.asp
For Both Tampa and Hillsborough You Must Register for the
Certificate Class 813-251-5402:
Good for two years!! Downpayment Assistance
Classes are Tuesdays and Thursdays 6 to 8pm.
Step 2:
www.tampagov.net/dept_housing_and_community_developmen
t/Programs_and_Services/
Downpayment assistance (813) 274-7954
Step 3:
www.hillsboroughcounty.org/affordablehousingoffice/firsttime
homebuyer/firsttime.cfm
Hillsborough County 813-274-6600
www.NACA.com
813-287-5051
Meets twice a month and provides the best interest rates and
homeownership classes around & Zero Down with No Closing
Costs.
“Isn't it about time you have something to lose?”
Real Estate Doubles every 7 years
Government Statistics
http://www.ofheo.gov/media/pdf/4q05hpi.pdf
U.S.A. Housing Average
Appreciation Trends Appreciation per
Year
1980 to 2005 = 284% 11.36%
2000 to 2005 = 57.68% 11.536%
2004 to 2005 = 12.95% 12.95%
Three Scenarios
1. Excellent Credit (650+)
If you have Excellent Credit you do not need a job or even money!
Banks will readily make cash available to you through mortgage
programs; programs, such as No Document 100% Loans. With this type
of loan you do not have to show anything in terms of employment and
you do not have to bring any downpayments to the table.
2. Excellent Job
If you have an Excellent Job, like say military, fire, any government job
that shows a guaranteed income, your credit and your money can also be
mediocre.
3. Excellent Money
If you have Excellent Money, like say Donald Trump, then you don‘t
need credit or a job. Does Donald have good credit? -Probably not… just
exactly how many times has he filed bankruptcy ?—With Excellent
Money, you can simply buy everyting upfront with cash, and wait your 7
years.
Note: Having the sum of all three in fair or good condition will also work for you.
Never Tell Yourself No! As long as you understand that Banks are
crazy… just tell them exactly what you need and You might be surprised
what they offer!
1
How to Buy a Home with No Money
Scenario
If you buy a home for $200k, your closing costs will be approximately
$6,000. Seller‘s contribution to closing will be $6,000 and the
contribution to ‗repairs‘ $4,000. Closing costs are 3% and your total
seller contribution is 5%. You walk away with 2% or $4,000 CASH!!
1
implies 100% financing
2
If not 2%, ask the bank what their escrow holdback limit is and put a little less
than that number in the contract- for „repairs‟
If you Can Buy one You can Buy Five!!
Question #1: How long does it take someone earning a salary of $40,000
a year to earn one million dollars?
This is the easiest part. Since you knew the history of real
estate in America, then you knew what was going to happen. So,
Guess What??