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Ethics in Business... A Lost Art
While watching Face the Nation one Sunday earlier this year, Bob Schiffer discussed the airline industry, his mother and ethics in business. Like Bob, I think it is a sad commentary today, that we have to police businesses. Whatever happened to...
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An Investing/Insurance Alternative
Segregated funds are the insurance company's answer to mutual funds. There are many differences and similarities but if you are putting together a financial plan that includes insurance and investments, you'll probably want to consider a...
How To Get Started In Preconstruction Investing?
Through our website, GetPreConstructionDeals.com, the most common question that we receive is “How do I get rapidly started in preconstruction investing”. Realistically, you only need to take three steps on your path from being a “beginner”...
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Before You Start Investing
There maybe several reasons why you to want to invest your money. You may want to retire early, want to build your own business in the future, or to pay for your kid’s education. Should everyone start investing outside their retirement accounts...
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Foreclosure Home Deals
Did you know that you can save tens of thousands of dollars on the purchase of your home by investing in a foreclosure or preforeclosure property? When you are trying to purchase a home for the first time, and you have limited resources and limited funds, it is particularly important that you get the most "bang for your buck".
One way for a young family to get the most home for their money is to purchase a "distressed" property. With research and due diligence, you may just end up with a larger or nicer home than you thought you could afford, but without the extra price tag. One way to accomplish this is by purchasing a property that is in foreclosure.
You may want to look for an REO Foreclosure.
What's an REO Foreclosure? This stands for "Real Estate Owned", or in other words,property that was foreclosed upon by the bank holding the mortgage, and now belongs to the bank. But, the bank is a bank and not a real estate investment firm. They are simply not in the business of residential real estate and have no interest in the home other than to recoup their investment.
How does this benefit you? Well, more than
likely the previous owners of the property have been making payments on it for some time, bringing down the amount the bank was owed and increasing the equity in the property. Since
the bank is only concerned about recouping what they are owed and not really attempting to make a profit, then you can essentially reap the benefit of the equity in the property and purchase the home for what is owed which is likely well below current market value.
This approach while simple in theory does require research, time, fixup, and perhaps even cash upfront. This approach is not for everyone, but if your situation allows for it, you may be able to snag a great deal on a nicer home than you could otherwise afford.
Amber Lowery is an online publisher and is responsible for maintaining a large network of home and finance sites. For more information on Foreclosures, visit: http://www.foreclosure-property-deal.com - the Foreclosure Resource. Current foreclosure property listings can be found here: http://www.foreclosure-property-listings.com
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