FAR 050 Topics: THURSDAY THURSDAY! Hey if you are looking to get your deal funded I’ve got great news. Whitestone Capital Solutions is offering loans as low as 4 points and 8%. Friends, if you are in the real estate investment business it’s hard to find money any cheaper than this. I know because I’ve looked around. All you have to do is go to www.whitestonecapitalsolutions.com, click “apply now” and fill out the quick and easy form. One of our team members will be in touch with you quickly and get you headed toward closing on that deal. We are loaning in all 50 states. Apply today. Trends Watch price increases in your area. Let me know what you are seeing. What to do with malls: Technology Center Business incubator Local community college - or satellite campus Convert to housing Scrape and build something new How do we prepare for technology trends in today’s market. What are the trends? *Ride sharing, including car sharing. When ride sharing costs less than car ownership, Urban parking garages will have excess inventory. What can you do with surplus garage space? If you’re investing in a REIT, perhaps consider warehouse space over garage space. *Online shopping, including groceries Secure package delivery. Build this into your next flip project and make it a part of your marketing. *Electric vehicles. Make sure you have a place to plug the car in! Baby Boomers are heading toward Senior Living Facilities -- Biz Times calls it “Silver Tsunami” Independent living in senior neighborhoods Assisted living in retirement communities Today’s residents, mostly born in the 1930’s. The Boomers are coming. There will be employment opportunities. And those employees need to live somewhere. Healthcare may be heading toward single payer. Rationing, long wait times. - Invest in medical office space in the Caribbean - for the wealthy who can and will afford to seek needed treatment elsewhere. Emails: Virginia from Ocala, FL. “I’m recently retired, but don’t want to just stop everything. I’m thinking seriously about flipping a house like they do on TV. I know I need to consider the cost of the remodeling work and how much I’m going to sell it for. What other costs am I going to run into on the project?” Costs Associated with the Purchase: Closing costs Utility Deposits Insurance Holding Costs Utilities Maintenance (primarily lawn) Insurance HOA Costs Associated with the Sale Commissions RE Taxes Transfer Taxes Possible share of closing costs Cost of Money Origination fee (points) Interest Angela from Pittsburgh, “I have some money I want to invest in real estate but I don’t want to flip a house. That seems too complicated. I DO like the whole process though and the profits seem pretty good and I want a better return than I’m seeing with REITs. Is there a way to invest in a project someone else is flipping and make a good return on my money?” Obviously yes. You need to do some research: Know the property and the process. Know the person doing the work. Or BOTH. Get your interest protected. Encumber the title. Brent from Denver, CO, “What is dual agency? I saw on a website that it’s a scam, but I don’t understand it.” Phil from Long Beach, CA “I’m a new listener. I want to get started flipping houses. I’m thinking about signing up for some training. I went to an event where they wanted more than $30,000 to show me how to do this. I can go to a local group and get the same training for about $500. Or is it the same? I don’t really know what I need -- please help. Erik from Tampa: “What’s the difference between a mortgage and a Deed of Trust? I want to sell a property myself using owner financing and want to make sure I protect myself in the right way.”
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