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Articles from Bryan Benson | Selfgrowth.com
- How Do You Proceed In A Land Trust? Part I: In The Beginning...Making The Right Decision - by Submitted on Apr 05, 2008 from Bryan BensonSay you picked up a residential house just recently and you did not realize what a great deal you have. You knew you had a lot of equity in there, but you really didn’t realize what a great deal it truly was. So you have gone ahead and gotten the deed. And the next step is to file it in a ...
Views: 562 - Getting Your First Deal: Which Direction Should You Take? Part IV: Which Stage Will You Use For Your Sale? - by Submitted on Apr 05, 2008 from Bryan BensonSince I’ve taken you this far, I’ve decided to take you all the way! I can’t leave you hanging at this point can I? Okay, let’s re-cap. You have gotten your first deal, you have priced your unit(s) and now we are going to discuss what stage of selling you are in and how ...
Views: 557 - Getting Your First Deal: Which Direction Should You Take? Part III Entitlement Timeframes. - by Submitted on Apr 04, 2008 from Bryan BensonSay your state poses a bit of a challenge from an entitlement standpoint. As we discussed in parts I and II, you have worked on your first deal-and it is coming along! You have even gotten to the next stage of pricing your unit(s). Now you are ready! Bring on the contractors-right? Here is ...
Views: 554 - Getting Your First Deal: Which Direction Should You Take? Part II Pricing Your Unit/Property - by Submitted on Apr 04, 2008 from Bryan BensonHow would you price your units? Once you have gotten an estimate on your per unit value what is your next step? How far are you in the process? What are your next steps? In part one we discussed the per units value (this was determined from broker in the area). But let’s say that you ...
Views: 526 - Getting Your First Deal: Which Direction Should You Take? Part I - by Submitted on Apr 04, 2008 from Bryan BensonAre you working on your first deal? Have you come across an opportunity and you just aren’t quite sure which direction to go in? This can be a confusing and frustrating situation if you have a property with a variety of potentials. It’s enough to make you crazy! This isn’t ...
Views: 602 - Yellow Letter Campaign: How To Handle Your Calls - by Submitted on Apr 02, 2008 from Bryan BensonAre you having issues with your yellow letter campaign? Let me guess. You are getting a ton of calls, which let’s face it-that is wonderful problem to have. Are you unsure of how to really explain yourself? Many people find themselves in this situation. Think about it. They basically get ...
Views: 766 - Senior Housing: What To Watch Out For - by Submitted on Apr 02, 2008 from Bryan BensonWhen it comes to senior housing, there are a few areas you might want concern yourself with to avoid any pitfalls. In fact, maybe the city itself (the city you are dealing with) does not believe there is enough senior housing in their area-maybe they are welcoming it. The first thing you need ...
Views: 570 - Getting Started: What You Need To Know - by Submitted on Apr 02, 2008 from Bryan BensonAre you feeling concerned about starting your first deal? Not sure how to go about it? There are a couple of things/questions you need to ask yourself when you are getting started. You may be finding yourself in the same boat as many people who have started in this business. Are you limited ...
Views: 543 - Promises, Promises. Promises Made...Promises Broken? - by Submitted on Apr 01, 2008 from Bryan BensonThere are many things you may promise a seller. Of course you want everything to work out perfectly when it comes to a sale you are involved with. I’d like to give you an example you should be wary of and give you a possible solution. Say you have a short-sale happening and you should ...
Views: 544 - Finding The Right Pieces To Solve The Puzzle - by Submitted on Apr 01, 2008 from Bryan BensonSay you have a lease-purchase option on a property and a tenant-buyer in it. The tenant-buyer is wanting to purchase this in about three months; and now all of sudden you are having difficulties finding a closing attorney who will close this loan for you without the initial security being in ...
Views: 528 - Do I Buy Property That Includes Inventory? - by Submitted on Apr 01, 2008 from Bryan BensonBefore you can even begin to answer this question you have to really ask what the property itself is worth. If you are sure (dead sure) about the value of the inventory, and you are also sure of the value of the property, then you do have a couple of options. I can try to explain it better for ...
Views: 664 - General Questions - by Submitted on Mar 31, 2008 from Bryan BensonIs there a law that says you cannot give a car away if somebody buys a house? Think people-this is not a lottery. There is not a law that prohibits this practice. Do you need a HUD statement when you prepare the deed? It does not hurt to do this. If your closing agent is recommending it, then ...
Views: 568 - Questions about Equity Spread - by Submitted on Mar 31, 2008 from Bryan BensonMany people have questions about equity spread (and what is considered a common equity spread). Let me explain it to you this way. If you have a home that is subject-to and is leveraged pretty high, how much equity spread actually still makes it a deal? Before you can answer that, you need to ...
Views: 585 - Get Your Situation Under Control - by Submitted on Mar 31, 2008 from Bryan BensonHas this ever happened to you? You have found the perfect house you want to purchase. And you are even able to find the owners. They had abandoned the home, but after talking with them and making them feel comfortable you were finally able to get them to sign an Authorization to Release ...
Views: 617 - Getting Down To Fundamentals - by Submitted on Mar 29, 2008 from Bryan BensonIn general this can be a tough market-but it doesn’t have to be! Remember, it IS what YOU make it! With that being said, let’s focus on a couple of fundamental principles. These fundamental principals are basically a recap of things you may have already seen (or heard) but this ...
Views: 685 - Approaching The IRS...Should You Or Shouldn't You? - by Submitted on Mar 27, 2008 from Bryan BensonMany people think that approaching the IRS to ask for a release of Lien is a negative or scary experience. Let’s really think about what we’re doing here. If you have obtained a property with a hefty tax lien, do you think you should really approach the IRS directly? Let’s take ...
Views: 604 - Dealing With The Seller: Is It Your Choice? - by Submitted on Mar 26, 2008 from Bryan BensonIt’s the same old story. I have heard this story dozens and dozens of times. You have found the perfect house, located on a perfect piece of property in the perfect area. One problem…you have not found the perfect seller. In fact, you cannot even find the owner or seller. Having a ...
Views: 574 - Short-sale: Don't Get The Short End Of The Stick! - by Submitted on Mar 26, 2008 from Bryan BensonShort sales can be very tricky. In order to benefit from a short sale, you must keep all of your ducks in row, and not focus on the sale but focus on yourself. Of course I’m not suggesting that you don’t focus on the sale-you always want to stay focused on the sale. But what I am ...
Views: 600 - Challenges Of Knowing Your True Value - by Submitted on Mar 26, 2008 from Bryan BensonChallenges you say? This business is filled with challenges around every corner. Here are some things you really need to look out for and think about before you start any kind of action. And remember-most importantly- before you start any action-you need a plan of action. When you are looking ...
Views: 642 - Developing Extra Sensory Perception - by Submitted on Mar 11, 2008 from Bryan BensonMost experts agree that most people have extra sensory perception or are able to develop it. Many of us have already experienced ESP. For example: Have you ever gotten the feeling the phone was about to ring…and it does? You are singing a song to yourself when you turn on the radio and the song ...
Views: 1101 - Meditation To Increase Brain Function - by Submitted on Mar 11, 2008 from Bryan BensonMeditation is a discipline where the mind is focused either on an object or on breathing. It has been described as ‘self regulation of attention, in the service of self-inquiry, in the here and now.” There have been numerous articles in major magazines as well as in medical journals of the ...
Views: 759 - The Art Of Mindfulness - by Submitted on Mar 11, 2008 from Bryan BensonAll of us can fall into a habit of inattention due to the routines of a typical day, going into the bathroom to brush the teeth and wash-up, get dressed, eat a quick breakfast, get into the car and go to work. Most of us are engaged with the same routines at least five days a week with little ...
Views: 564 - Law Of Attraction And The Vision Board - by Submitted on Mar 11, 2008 from Bryan BensonA Vision Board is a simple tool you can create to help you with getting what you want out of life via the law of attraction and manifestation. It is the visual equivalent of your thoughts, of what you desire and want in life. Your Vision Board could be your idea of a dream trip you want to take ...
Views: 629 - No Need To List With A Realtor - by Submitted on Mar 10, 2008 from Bryan BensonHere’s a scenario you might be interested in. Suppose you are getting a lot of response on a property-it's not just from the ad in the paper, it's also from additional marketing. The issue in this scenario includes a high dollar amount loan (say $600,000.00) with a $4,000-dollar a month payment. ...
Views: 580 - Going The Distance - by Submitted on Mar 10, 2008 from Bryan BensonMany people take the time to discuss how certain tactics aren’t working for them. Or how a strategy might not be working and they don’t have the money to invest in other tactics. Is this a viable complaint? How about this one: A woman was going to get some input on those yellow letters to ...
Views: 601 - Dealing With Insurance - by Submitted on Mar 10, 2008 from Bryan BensonLet’s take a look at someone dealing with insurance on a property…or lack of it. Say you received the deed recently on a property worth about $675,000. You thought you had a buyer for it so you went ahead and recorded the deed. But now you have a problem. You don’t have insurance on it. You ...
Views: 657 - Confused About The Steps You Need To Take? - by Submitted on Mar 08, 2008 from Bryan BensonSay you just got your first deed subject to deal, and you are a little bit confused about the steps you need to take. You already, applied for title search. So that's happening, and things are on their way. The seller's sign all of the documents. One of the things that you didn't understand ...
Views: 772 - Planned Unit Development - by Submitted on Mar 08, 2008 from Bryan BensonIs your land Planned Unit Development (PUD) approved? Do you have land that can be used to put condos or other housing on? Say you have about 10 acres, has the city approved you putting condos on it or is that just something you’re thinking about doing? Are you sitting on a goldmine? Could you ...
Views: 689 - Good First Deal? - by Submitted on Mar 08, 2008 from Bryan BensonLet’s take a look at this scenario from a guy in San Diego. He thought he had a good shot on his first deal-a luxury condominium in down town San Diego. The guy owning the property was one of his past clients. He had some unfortunate things happen in his business where he's willing to let the ...
Views: 658 - Managing Your Properties - by Submitted on Mar 05, 2008 from Bryan BensonWhat are the best policies and procedures when it comes to managing your properties? Are you getting tangled up in the words? Every time there's a hiccup in the business people run like flies. If you’ve made a lot of money on the lease purchase (and not sure how to circumvent this) you should ...
Views: 693 - If They Say They Will Sell For What They Owe - by Submitted on Mar 05, 2008 from Bryan BensonIf the seller says they will sell for what they owe, understand that you are taking over their debt. One of the things you want to make sure that you do is to cash them out and only pay what they owe at that time; keep in mind that is all you can pay. Remember, you'll pay the bank directly; ...
Views: 634 - How Do You Title The Trust, The Trustee And The Beneficiary? - by Submitted on Mar 05, 2008 from Bryan BensonIf you’re thinking about making the seller the trustee, you don't want to do that. Why you ask? Because the seller is out of this, their business is none of your business and vise versa. We know what you might be thinking, what if I can avoid the due on sale clause by making them the trustee ...
Views: 825 - Deed to Property: What You Need To Know - by Submitted on Jan 17, 2008 from Bryan BensonTo clearly understand the relationship between a buyer and a seller it is necessary to understand what is involved in the purchase of a property. A deed to property is an essential document by which the land is passed from the seller of the property to the buyer. This legal document is necessary ...
Views: 670 - Money Saving Tips - by Submitted on Jan 11, 2008 from Bryan BensonThe yellow letters are great. They do not need changing in any way, and if you follow the instructions exactly as they are given, you will get a return from them. Getting these letters written and the envelopes stuffed is something that you can do yourself. Some have chosen to get someone to ...
Views: 686 - Filing A Quiet Title Suit - by Submitted on Jan 10, 2008 from Bryan BensonStay in this business long enough and you will one day be able to say that there isn’t much that you haven’t seen. In fact, you may find that the time may come when you see much more than you wanted to see. On occasion, you may come across a property where the owner has completely ...
Views: 1870 - Media Advertisement - by Submitted on Jan 08, 2008 from Bryan BensonIf you are someone trying to buy homes, then using something like television commercials to find potential sellers goes against everything taught by FFN. If you have the appearance of being a business or company owner, it will be an immediate turn off for the seller. In some markets, buying ...
Views: 649 - Implementing PATLive - by Submitted on Jan 04, 2008 from Bryan BensonPATLive is a telephone answering service offered to a wide array of businesses. Studies have shown that people prefer talking with a person and not an automated IVR system. The service was founded in the early 90’s in Tallahassee Florida. It has expanded nationwide and has services that ...
Views: 677 - Working With A Mortgage That Is In Forbearance - by Submitted on Jan 02, 2008 from Bryan BensonA forbearance agreement in real estate is an agreement by the lender not to exercise the legal right to foreclose in exchange for an agreement by the borrower to a payment plan that will cure the borrower’s delinquency. This is something that can be actively pursued by someone who is ...
Views: 593 - Understanding MAO - by Submitted on Jan 01, 2008 from Bryan BensonWhen lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due because the balance due on the loan is more than what the property will sell for. Not all lenders will accept short sales or discounted payoffs, especially if it would make more ...
Views: 817 - Over Leverage Or Short Sale? - by Submitted on Dec 28, 2007 from Bryan BensonAn over leverage home is one that you want to stay away from… meaning that the amount owed is more than what the house is worth, even more than the AVR. About the only thing you can do with these homes is list them. An exception might be if there is significant damage to the home, for ...
Views: 716 - An Extra Lot - by Submitted on Dec 27, 2007 from Bryan BensonWith all the things that may come into a deal, sometimes what might be included in the deal is an extra lot, a smaller piece of property with dimensions that are so abstract and a shape to the property that may make it difficult to sell or to build on. Problems that you may have with lots like ...
Views: 680 - Ron's Magic Yellow Letter - by Submitted on Dec 17, 2007 from Bryan BensonThe infamous “yellow letter” has brought success in some way to everyone that has implemented it in his or her business. Putting it into your business is a time consuming process, but it is well worth the time and money. There are a few important details to remember that are ...
Views: 1076 - The Perfect Short Sale Candidate - by Submitted on Dec 17, 2007 from Bryan BensonMany wonder what the ideal short sale candidate might look like. With all the different and unique situations that you may run into, here is an example to compare to. If a potential seller’s asking price is the total amount owed between a first and second mortgage together and is several ...
Views: 1824 - The Nightmare Property - by Submitted on Dec 17, 2007 from Bryan BensonAt first glance, it looks like a great investment and prospects of a fantastic gain are everywhere. You’ve got a great house, very good looking, everybody who sees it loves it. It's in a very promising area, you’ve got the deed on it, and you’ve been trying everything you know ...
Views: 610 - Foreclosures And Short Sales - by Submitted on Dec 14, 2007 from Bryan BensonAttempting to do a short sale may be a challenge when there a foreclosures on homes with multiple mortgages. For example, there may be a situation where the foreclosing lender with the highest amount due is in the second place, and the second lien holder with a substantially lower amount is in ...
Views: 822 - Information On Rent-to-Own Properties - by Submitted on Dec 14, 2007 from Bryan BensonPeople have asked, “What's the difference between a rent-to-own versus the owner financing?” The answer – nothing. It’s just about the way you say it and the way it is perceived. When buying a higher dollar house, buyers are not going to want a rent-to-own situation. ...
Views: 574 - Is The California Realtors Contract Assignable? - by Submitted on Dec 14, 2007 from Bryan BensonThis is a question that has been asked to us several times in the past… members wanting to know if the California Realtors Contract is assignable, or will they have to close on the contract themselves and then close with buyer. We’ve also been asked if the buyer's cash covers the ...
Views: 703 - Don't Quit Your Day Job - by Submitted on Dec 13, 2007 from Bryan BensonSo many times, we run into rookies who are fed up with their regular 40 hr week job. After hearing all the stories of people getting rich with real estate, they are ready to throw in the towel on their regular job, tell their boss what they think of him, and jump full time into the business of ...
Views: 700 - Capital Gains - by Submitted on Dec 13, 2007 from Bryan BensonIn finance, a capital gain is profit that results from the sale or exchange of a capital asset over its purchase price. If the price of the capital asset has declined instead of appreciated, this is called a capital loss. Capital gains occur in both real assets, such as property, as well as ...
Views: 651 - Tips For Advertising In The Newspaper - by Submitted on Dec 13, 2007 from Bryan BensonEveryone seeks maximum exposure when trying to sell a property and to attract a tenant or potential buyer. Many different methods are available to choose from when you are looking to bring maximum exposure to your property. When your signs are being taken down by mischievous teenagers and home ...
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