Buying Foreclosure Properties

Buying Foreclosure Properties

Definition:

“A foreclosure property is a piece of real estate that a mortgage lender sells to pay off a defaulted mortgage loan. Every foreclosure culminates in a public auction where the lender sells the property and anybody can purchase the property. Or you can purchase a foreclosure property from a bank after the bank purchases the property at the auction.”

The real estate market is showing increasing signs of recovering and there are great investment opportunities to be found. Home prices are still relatively stable and interest rates are still very attractive.

However, whether buying for a primary residence or for investment purposes, there are still some basic guidelines to follow when considering buying foreclosure properties.

Below are my 4 Buying Foreclosure Properties Tips

1. Work with a broker.

It does not matter if you are buying a foreclosure for investment or as a primary residence, it is really helpful to have a broker help with the process.

Neighbourhood is one of the most important factors when it comes to buying a home and a broker is worth their weight in gold when it comes to knowing the local real estate market.

2. Do the financial due diligence.

All we need to do is remember the real estate market crash to see why it is important to do a thorough financial due diligence when purchasing a home.

Be realistic about your budget and how much home you can really afford. If the home is an investment purchase, can you make the mortgage payment if you have to carry the mortgage for a few months?

That can happen with investment property so be sure you factor in at least six months of mortgage payments just in case.

Also factor in the cost of any repairs. This is especially true with foreclosure purchases which are often sold ‘as is’ which means they often need repairs.

Verify the condition of the property. Restore and repair costs add up on a total value of a home.

It is always best to purchase foreclosure properties that require minimal repairs, otherwise your profit margin shrinks.

3. Understand that every neighbourhood is local to that neighbourhood.

What this means is that what is selling in one area may not be selling just down the road, so you need to do your homework and check comparable homes in the area to know whether or not what you are buying is a good investment.

Get a proper assessment on the home you are considering purchasing.

Buying foreclosure properties will generally be thirty to forty percent discounted, so if a foreclosure home does not need major repairs and you can get it for a price that is well below the market value of similar homes in the same area, then you are probably making a good investment.

4. Try and find foreclosures that are bank and creditor owned.

These properties are where you can most likely get the best deal because banks are not in the business of owning property so want to sell these types of properties and will often do so at a much discounted price.

Investing in foreclosure properties can be a very smart move, especially in the current real estate market.

With housing prices still relatively stable and interest rates still very attractive, there are many good opportunities for investment available.

When considering buying foreclosure properties, it pays to research the property and to do the financial due diligence in order to verify the quality of the property and financing.

Can I Set Up An Online Business In 2017

If you’ve been considering setting up an online business you’ve most likely been motivated by sheer volume of buying and selling that is now taking place on the internet.

More and more people are buying products and services online. And if you set up your own online business you can claim your cut of this expanding marketplace. Here are the 5 steps to follow to set up an online business.

1. Pick Your Market

If you’re going to set up an online business your first task is to determine what type of business it’s going to be. Are you going to sell products or services? You can sell your own products or you can sell products produced by other businesses who will pay you commissions on your sales. Or you may choose to set up a membership website or offer teaching and coaching services online.

2. Build Your Website

Getting a website online isn’t as complicated as you may think. Initially you’ll need to purchase a name for your website (known as a domain name). Next you need to ‘rent’ some space on the internet (known as website hosting). Lastly you’ll need a software package that will make it possible for you to put written text, images, videos etc onto your website. There are many website building programs available that make this whole procedure very easy.

3. Get Visitors To Your Website

When you website is online you have to get potential customers to visit it. There are two main ways to do this. You can use free website traffic techniques or paid website traffic techniques. Both have their pros and cons and the most effective traffic tactic to use a mixture of both.

4. Develop A Customer List

It’s doubtful that your website visitors will want to buy anything from you on their first visit to your website. They may visit your website and never return. But obtain a visitor’s email address with a special email capture form, you can remain contact with them via email. Your emails can keep them informed about your business and encourage them to return to your website.

If you offer something of value for free in return for someone’s email address they are more likely to give you their email address. This can be something as straightforward as a free report or eBook that is relevant to your industry.

5. Provide Value

The content material on your website and in your emails, articles or blog posts has to be more than continuously trying to sell. When you provide high quality, useful information to your target audience will come to know, like and trust you. Your prospective customers will then be more willing to buy from you and continue to be as loyal customers for many years.

Fermented Foods – Choose Beneficial

Many vegetables are grown in a fertile valley far away. Almost as soon as they are harvested, they are flash-frozen and transported on refrigerated trucks to a supermarket near you. You have a freezer at home, and the delivery of healthy nutritious vegetables from farm to consumer is completed easily. Refrigerated trucks keep fresh-picked vegetables viable long enough that your green grocer’s shelves remain well-stocked throughout the year.

Go back just a few decades, and you will find that this was not the case. Winter produced very sparsely populated shelves in the green grocery section of the market. Go back just a few more decades and you will discover that people had to find creative ways to sustain themselves through harsh winters and on long journeys. For thousands of years, people have fermented foods to preserve them for when supplies of fresh foods were not available.

The Romans preserved cabbages with salt, and Genghis Khan fed his armies fermented cabbage to sustain them on their campaigns through Europe. This use of preserved, fermented foods was a common practice for travelers as a source of nutrients. As late as World War I, allied forces relied on fermented cabbage, or sauerkraut as we now know it, to supply nutrients to soldiers on the battlefields of Europe.

The process of fermentation helps to preserve the food for use many months later. Fermentation also generates many health benefits for the consumer. The essential nutrients and vitamins are preserved. Sugars are broken down so they are more easily absorbed with far less insulin or allergy reaction, in the case of lactose intolerance to dairy products. The process also generates enzymes that are essential to supporting the digestion of foods that we eat. Finally, they are natural probiotics, jam-packed with beneficial microorganisms.

A healthy gut, supported by a strong population of beneficial bacteria, serves as a powerful booster for your immune system. The digestive tract is where nutrients are extracted from food and absorbed by the body. Enzyme and microbial activity accelerates digestion and generates enzymes, vitamins and antioxidants that are essential to health. They also protect us from pathogens and flush out toxins from our bodies.

You can find a variety of ready-to-use fermented products at your local supermarket. They include yoghurt, which is fermented milk (usually cow’s milk). The fermentation process breaks down the milk lactose to make it easier to digest and the yoghurt supplies billions of helpful bacteria. Be careful of brands with large amounts of sugar added, as that will create other problems. Another healthy fermented product from milk is kefir, a drink often found in the supermarket refrigerator.

Kombucha tea is another good source of enzymes and beneficial microbes. Kombucha is made from fermenting black tea. Other products you may find in the supermarket include kimchi, a Korean version of fermented cabbage and a mixture of other vegetables. Raw apple cider vinegar is also loaded with beneficial bacteria and has many different uses apart from supporting a healthy digestive system. You may find Japanese products like miso, and natto, both loaded with microbes and used in cooking soups, marinades and sauces.

If you feel adventurous, the processes for making your own fermented yoghurt, kefir, pickles and kimchi are relatively easy and they require no special equipment. Select healthy organic ingredients and you will be able to rely on the process for creating your own healthy, nutritious probiotic foods.

Protect Yourself Against, and Mitigate Damages From, Identity Theft

We’ve all heard of it. But we all think that we’re invincible to it. Identity Theft!

What is it? It refers to the preparatory stage of acquiring and collecting someone else’s personal information for criminal purposes.

Identity theft techniques can range from unsophisticated, such as dumpster diving and mail theft, to more elaborate schemes.

If your identity is stolen, do you have a plan in place to mitigate the damages? If not, you should at least bookmark this, just in case you need it in the future.

Identity thieves are looking for the following information:
• full name
• date of birth
• Social Insurance Numbers
• full address
• mother’s maiden name
• username and password for online services
• driver’s license number
• personal identification numbers (PIN)
• credit card information (numbers, expiry dates and the last three digits printed on the signature panel)
• bank account numbers
• signature
• passport number

There are things that you can do to protect yourself from identity theft, and there are steps that you can take to minimize the damage and help bring the thief to justice.

Here are 5 things that you can do right now to protect yourself:
1. Do not sign the back of your credit cards. Instead, put ‘PHOTO ID REQUIRED.’
2. When you are writing checks to pay on your credit card accounts, DO NOT put the complete account number on the ‘For’ line. Instead, just put the last four numbers. The credit card company knows the rest of the number, and anyone who might be handling your cheque as it passes through all the cheque processing channels won’t have access to it.
3. Put your work phone # on your checks instead of your home phone. If you have a PO Box, use that instead of your home address. If you do not have a PO Box, use your work address. Never have your SIN printed on your checks. (DUH!) You can add it if it is necessary. But if you have It printed, anyone can get it.
4. Place the contents of your wallet on a photocopy machine. Do both sides of each license, credit card, etc. You will know what you had in your wallet and all of the account numbers and phone numbers to call and cancel. Keep the photocopy in a safe place.
5. When you travel abroad, carry a photocopy of your passport. We’ve all heard horror stories about fraud that’s committed on us in stealing a Name, address, Social Insurance number, credit cards, etc…

If your identity does get stolen, what kind of things can you expect to have happen?

Here are just some of what they can do:
1. Access your bank accounts
2. Open new bank accounts
3. Transfer bank balances
4. Apply for loans, credit cards
5. Make purchases
6. Buy cell phone packages
7. Credit line approved by retail stores
8. Access your driving record, and change your information online

If you are a victim, here’s some critical information to act on immediately:
1. Cancel your credit cards immediately. But the key is having the toll free numbers and your card numbers handy so you know whom to call. Keep those where you can find them. This is why we photocopy them (see above). Call your local bank/financial institution as well.
2. File a police report immediately in the jurisdiction where your credit cards, etc., were stolen. This proves to credit providers you were diligent, and this is a first step toward an investigation (if there ever is one).
But here’s what is perhaps most important of all:
3. Call the nationwide credit reporting companies immediately. Ask them to put a fraud alert on your name and credit report. The alert means any company that checks your credit knows your information was stolen, and they have to contact you by phone to authorize new credit.

Here are the numbers for two national credit bureaus:
1.) Equifax: 1-800-465-7166
2.) TransUnion Canada: 1-877-525-3823
3. Order free copies of your credit report from each of the nationwide credit reporting companies.

Have you even been a victim of identify theft? Tell us your story and maybe others can learn from what you did, or didn’t do.