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Land/Construction Loans
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Improving Raw Land And Financing Mortgage Construction Loans
This department covers information specific to land and construction loans. "Buy land!", it's been said, "Because they ain't making any more of it!". These mortgage training resources will help you to tackle this tricky area. Raw land and construction loans can be a tangled mess, but if you can overcome the challenges, they can be a boom to your mortgage business.
RESOURCES IN THIS DEPARTMENT:
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Selling Land: Three Important Tips
Are you selling land or small lots? Want to get more for your property and sell it faster? There are three important things you should do.The very first piece of real estate I bought was two-and-a-half acres adjoining some state land in Northern Michigan. . . . >>> READ MORE
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Financial Considerations With Land
Raw land as opposed to improved property is much more difficult to finance through traditional lenders. The main reasons are that it generates very little income, development costs can be expensive, there are no buildings or improvements that can be used as collateral, and it is often considered speculative. . . . >>> READ MORE
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Builders Are Getting Sneakier Every Day
If you live anywhere near a new development you already know that builders will do anything to get the loan. And there is little we as brokers can do about it. I mean, how do we compete with them when they are offering $10,000 in free upgrades? . . . >>> READ MORE
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Land Arbitrage: How To Earn Virtually Risk-Free And Extremely Quick Profits Using Land
One of the key lessons I advocate is the importance of precisely knowing land values in your local geographic area. If you know EXACTLY what land is selling for in one place, you can know if another similar parcel of land for sale nearby is a good deal or a bad choice. Having an intimate knowledge of land values allows for land arbitrage, or the ability to earn quick cash profits with very little risk. . . . >>> READ MORE
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Thirty Suggestions On How To Make Money With Land
A website visitor named Bryan from Toledo, Ohio asked if I would provide a "Tip of the Day" for land investors and real estate developers. In other words, just a short blurb or paragraph daily on how real estate investors can make some money, save some costs, or otherwise enrich themselves buying and selling land. . . . >>> READ MORE
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Common Land Myths: Why What You Think You Know About Land Investing In Probably Wrong
Other than experienced real estate developers or land owners, most people have no experience buying land let alone subdividing it or even dealing with zoning issues. What the average person "knows" about land investing they have learned on television or read about in the newspapers, and that usually involves shady business deals that make the press or simply stories that are too complicated to be easily understood. . . . >>> READ MORE
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All About Construction Loans
To be simple about it, construction loans are any loan that funds the construction, development, modernization, rehabilitation, or renovation of a real estate project. Construction loans are used to develop raw land and also improve or rehab an existing building. . . . >>> READ MORE
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Bad Land Advice: How Not To Make Money Buying Land
Most of the advice I have read over the years on making money with land has been just plain wrong. Of course I believed what I read in books and heard from "experienced" land professionals when I first started out in this business but there's nothing like real world investing in land to teach you the actual rules of the game. . . . >>> READ MORE
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Earn Free Land As An Investor: It's Not As Hard As You Think
Earning free land as a land investor or real estate developer isn't as complicated or difficult as most people think. In fact, it's mostly common sense when you think about the spread between wholesale and retail prices when buying assets or anything else in volume for resale. One of the cornerstones of my philosophy is that free land is the best kind of land you can ever own. . . . >>> READ MORE
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The Federal Interstate Land Sales Full Disclosure Act
The Federal Interstate Land Sales Full Disclosure Act (15 United States Code 1701 et seq.) is a tough Federal law passed by Congress in 1968 after a long series of high profile and simply outrageous land frauds that scammed thousands of land lot buyers out of hundreds of millions of dollars. . . . >>> READ MORE
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Land Investment Versus Land Speculation: Here's The Difference
Land speculation is a great way to lose lots of money fast. Or lose lots of money over a long period of time like years and even decades. There are those that do get lucky and make a bundle speculating in land, much in the same way there are people who take their last paycheck after losing their job and go to Las Vegas and win big playing Blackjack. It happens, but odds are it will never happen to you. . . . >>> READ MORE
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Soil Bearing Capacity And Development In Land Deals
The bearing capacity of soil when buying land slated for future development is a crucial concern for investors. Simply put, you want the land you buy to be able to physically support the structures, roads, embankments, and other improvements you want to make to your land. While this is very much a scientific and engineering question, a dash of common sense and a good eye for soil texture can eliminate most of the problems you might have in this area. . . . >>> READ MORE
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Creating Mortgage Notes With Land: Discounted Paper Profits Instantly
Paper, for those not in the real estate business, are debt instruments called "notes" which are secured by real estate. Examples of "paper" include mortgages, trust deeds, real estate contracts, and other debt devices used when real estate is sold, transferred, or otherwise encumbered without a full payment of cash to the seller. . . . >>> READ MORE
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What Is "Spot Zoning"?
"Spot zoning" (also sometimes called "floating zoning") is the zoning of a parcel of land inconsistent with the normal zoning plan of an area. In other words, a piece of land zoned differently from the other parcels of land around it, for example, a lot zoned for commercial use in a clearly residential area. . . . >>> READ MORE
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Land Deals And Negative Cash Flow
The curse of most real estate investors is negative cash flow ("NCF"), the unfortunate circumstance where a property's expenses exceed the income the same property can provide its owner. As a real estate attorney I hear complaints and pleas for help almost every day from owners suffering from NCF issues. . . . >>> READ MORE
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International Land Deals
There are incredible opportunities for land investors in virtually every country around the globe for the simple reason that QUALITY land is very scarce no matter where you are. What do I mean by "quality" land? . . . >>> READ MORE
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Why Invest In Land?
"Why invest in vacant land instead of improved real estate like single family homes, apartment buildings, commercial real estate or other forms of income producing property?" . . . >>> READ MORE
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Inspecting Land The Right Way
Physically inspecting land is not as complicated a subject as many people try to make it. Once you have done it a few times in your area and get a handle on some of the basic rules, it is not only easy but can be a great deal of fun. Here are some of the simple Do's and Don'ts that even experienced land investors sometimes fail to follow. . . . >>> READ MORE
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Getting Raw Land Not A Raw Deal
There is more to buying raw land than meets the eye and more than a few individuals have wished they'd had a second chance upon finding themselves duped, conned, misled, ill-advised, uninformed, oversold, undereducated and often unprepared. They realize, often too late, that a raw land purchase should be properly investigated, evaluated and negotiated using a logical and rational plan. . . . >>> READ MORE
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