Fixer Uppers: The Money Making FormulaWritten by Steve Gillman
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3. Now subtract a profit that makes it all worth effort. This gives you highest price you can pay for house. Walk away if you can't get it for this price or less. Offer several thousand less, of course, to give yourself negotiating room. An Example: You find a fixer-upper, and determine you can get $98,000 for it when it's done. The expenses of buying will be $2,000. You get repair estimates of $8,000. Carrying costs will be $2,500. The sales commission will be $6,500. Other closing costs will be around $1,500. You figure $1,500 for "unexpected" costs. Finally, you want $10,000 for your effort. Subtracting all of that from your expected sales price leaves $66,000. This is most you can pay, if you want a safe real estate investment. You offer $61,000, and walk away if you and seller can't settle on something under $66,000. Always start at end (the eventual sales price) and work your way back. This is right way to safely invest in fixer-uppers.
Steve Gillman has invested in mobile homes and other real estate for years. To learn more, and to see a photo of a beautiful house (not a mobile) he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com
| | A Summary of the Fair Credit Reporting Act Written by Gary Gresham
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The credit bureaus blast credit repair companies in media and warn people against using credit repair services. The bureaus openly deny that any information can even be removed from your credit report. It is reported that 79 percent of all credit reports contain some type of errors, and up to 25 percent of these errors could result in credit denials, hiked interest rates, and even lost employment opportunities. If you have any amount of negative credit on your credit report it will cause interest on all loans you apply for to be much higher. It will even become a barrier to your credit approval. That will cost you a fortune in unnecessary higher interest resulting in higher payments on anything you buy. How you decide to address or dispute credit information is entirely up to you. But regardless of what you may hear in news, thousands of people have restored their credit. You can choose to repair your own credit report or hire a professional service to do it for you. The truth is you do not have to endure bad credit for seven to ten years if you want to challenge accuracy of your credit report. This summary of Fair Credit Reporting Act shows you it is possible for you to repair your own credit report and sooner you start better. Copyright © 2005 Credit Repair Facts.com All Rights Reserved.
This article is supplied by http://www.credit-repair-facts.com where you will find credit information, debt elimination programs and informative facts that give you the knowledge to correct your own credit and credit report. For more credit related articles like these go to: http://www.credit-repair-facts.com/articles_1.html
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