Personal Loans » estate

Nomura Office Fund Announces Revised Forecasts of Financial Results for the Fiscal Period Ending April 30, 2011

davidguide — Wed, 08 Dec 2010 07:48:32 +0000

TOKYO–(BUSINESS WIRE)–Nomura Real Estate Office Fund, Inc. (NOF)(URL: http://www.nre-of.co.jp/english/) (TOKYO:8959), a Japanese office building real estate investment trust (J-REIT), announces today that it revised forecasts of the financial results for the fifteenth fiscal period (November 1, 2010 to April 30, 2011) which were previously announced on November 1, 2010 in “Notice Concerning Forecasts of Financial Results for the Fiscal Period Ending April 30, 2011.” 1. Revised Forecasts of F

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OneWest Bank Announces Purchase of $1.4 Billion Multifamily and Commercial Real Estate Loan Portfolio from Citibank

davidguide — Thu, 11 Nov 2010 16:11:07 +0000

PASADENA, Calif.–(BUSINESS WIRE)–OneWest Bank, FSB today announced the purchase of a $1.4 billion multifamily and commercial real estate loan portfolio from Citibank, N.A. The portfolio, which includes approximately 600 loans, is a strategic addition to OneWest Bank’s growing Commercial Real Estate lending business. “We are pleased to be able to work with Citibank to complete this transaction. This portfolio purchase represents our ongoing commitment to Commercial Real Estate lending. We are e

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OC broker gets 68 years for real estate fraud

davidguide — Tue, 19 Oct 2010 08:13:40 +0000

An Orange County real estate broker has been sentenced to 68 years in prison for using stolen identities to buy 35 properties and intentionally defaulting on the loans to steal more than $17 million. Read comments

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Concerns Regarding the Economy Continue to Weigh on San Francisco’s Real Estate Market

davidguide — Sat, 16 Oct 2010 04:31:25 +0000

SAN FRANCISCO–(BUSINESS WIRE)–Completed and pending home sales, particularly in the condominium market, declined in comparison to previous months, according to the most recent Market Focus report published jointly by the Rosen Consulting Group and the San Francisco Association of REALTORS®. According to John Lee, president of the Association, “The decline is attributable to the pull-forward effects of the expired tax credit and lingering concerns regarding the pace of the economic recovery.” B

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Misconceptions in Real Estate Markets by Private Money Loans Arizona

davidguide — Fri, 10 Sep 2010 02:04:01 +0000

Welcome to Real Estate Investing Today brought to you by private money loans arizona. My name is Ryan Wright and thank you for joining me. Today, I would be talking about the mistakes made by the real estate investors. The biggest of them is the incorrect evaluation of property which can pose a threat to the whole loan process. This can be explained in an example given here which actually happened in our office today. A borrower came to us and claimed that his property was worth $90,000 and wanted a loan of $65,000. The borrower completed his loan application process. We might have facilitated his application but an interesting thing happened when we did evaluation of the property on our own. We sent two evaluators on the ground to have a look at the property asking them to evaluate it in terms of its market value.

Now, about these on the ground evaluators, they are totally independent. They have no idea of how much the property is worth beforehand. We do not inform them of your claim of property’s worth or how much you want the loan. Their basic duty is to visit the property and make a fair evaluation on their own when the property is fixed up. They will calculate its worth keeping in mind property’s market value, repairs and any other factor that may have any implication on its evaluation. Basically, their whole operation is independent. They are neither influenced by us nor informed of your application.

The evaluators came up with an interesting figure. They said the property was worth not more than $45,000 fixed up. This was quite a revelation as the borrower was claiming its worth 100% more than that. The entire outlook of the loan application process changed. Now, we could not approve a loan of more than $17,000 because of depreciation factor in the market along with some other issues. Depreciation of a property is calculated on the following formula: if the value of a property depreciates more than 11% in one year, we have to take the additional percentage off the loan value that we can approve. So, a 20% depreciation means 11% depreciation and 9% off the loan value.

The end result is that we could offer only $17,000 loan whereas the borrower wanted $65,000 on a property we evaluated to be worth $45,000, contrary to the borrower’s claim of $90,000. This is the main problem the real estate investors face. An independent evaluation via hard money loans arizona is the best way to go in case you want to avoid such mishaps.

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How Private Loan Lenders Can Jump Start Your Real Estate Investing Business

davidguide — Wed, 07 Oct 2009 11:40:27 +0000

A Private loan lender is someone who, just like you and me, works and has saved their money to invest. In the past they may have invested in the stock market or bonds. With today’s economic uncertainty the stock market is such a risky venture it makes real estate investing look like a stable market and has investors flocking looking for better alternatives.

Everybody across the country has seen the huge drop in real estate prices and anyone that has some money saved knows now is the time to purchase real estate when prices are low. So when searching for a private loan lender have some facts about the current real estate market in your area right at your fingertips so when you are face to face with a private loan lender you can help them see the golden opportunity in front of them.

The news never paints a truly clear picture of the real estate market. Only the people that day after day study the numbers of sales and new listings, pendings and off market properties will really understand what the current market in your area is. If you are not a real estate agent then becoming affiliated with one will greatly help your real estate investment business. These people can jump start your business ahead leaps and bounds and are one of the most important contacts to have in your Rolodex. Not only can they help you find a private money lender, they can help you find the property you will want to invest in.

Real estate agents also have the added power of being able to look up the current mortgage on a property most counties do not have this information available to the public. So when you set out looking for a private money lender finding sellers that owe nothing on their property is an excellent way to start. Lots of times they will be interested in helping you to purchase their property even if they have to carry some paper.

Although I have found most people who own their home outright want to carry the paperwork because of the low amount of risk (this is only if they are in first lien position and have a very good contract that protects them in case of foreclosure). Finding home owners that owe nothing on their home by yourself without the aid of an agent will be time consuming and your chances of success goes down greatly. Agents are an incredible valuable resource and using their contacts and information will make your business a lot more successful. They will also make finding and securing a private loan lender a lot easier.

I invite you to learn more about Private Lending and get FREE instant access to a 60 minute audio and 20-page eBook titled “Discover the Secrets of How to Fund Your Real Estate Deals with Private Lenders!” by going to http://realestatewealthtoday.com/FREE-eBook.html.

Mike Lautensack is a full-time real estate entrepreneur in Philadelphia, PA and creator of the Private Lending Presentation Kit. This powerful done-for-you kit is loaded with tools and techniques to attract and develop a consistent stream of private investors into your real estate business. To learn more about this kit and receive your FREE Real Estate Wealth Newsletter go to Private Loan Lender Kit.