What to Expect From a Lender in Closing
I am currently going through underwriting with my lender. This is a 5% down conventional loan on a $415,000 house.
Oh yes they call your boss. (or your HR)
Oh yes they ask for your employment verification form.
Did your parents help with the downpayment? Oh yes they want to know how did they make that money and they want to see their bank statements too.
Are you self-employed? Oh yes, they need twice as much documents as that a regular employee.
Did you use inspection report to bargain with the seller? Oh yes they want a contractor to sign a letter saying everything is okay, and they will fix that this week.
Conditional approval? Congrads, they are going to come back for more.
Have you borrowing!
(I am so doing seller financing from now on.)
Landlord – are you terrified of vacancy?
Oh yes you do.
A good landlord should:
– have a professional accounting system (so you know your money is being recorded properly)
– have a legal binding lease agreement (so you know your rights are protected)
– have a move-in & move-out inspection form (so you don’t have to argue about carpet cleaning/junk removal)
– have a reliable handyman (so you know the service is fair and trust-worthy)
– is available to gossip with you when needed!
🙂 Befriend your landlord!
(Landlords, these conditions applies to you as well.)
Power of Delegation – Virtual Assistant
Can’t believe it! I actually hired a virtual assistant from the Philippines!
I have delegated some of my “busy works” to the assistant so that I can sit back and do my marketing! So far the assistant has been doing a great job. She saved at least 3 hours of my time so that I were able to go see 2 houses today and run some bank errands 🙂
What is virtual assistant? What can he/she do for you? My virtual assistant is helping me with simple research, graphic edit, and document edits work right now, in the future, I will ask my virtual assistant to respond to phone calls to collect buyer & seller information, compile background reports, etc!
A good virtual assistant is punctual, professional, and he/she can communicate effectively. If you are interested, let me know. I am happy to introduce you!
You Can Be Whatever You Wish – TAKEN ACTION NOW!
I went to my second REAPS (Real Estate Association of Puget Sound) meeting this past Sat. It was a whole day event featuring Mr. Louis “Lou”Brown.
Meet The 11-Year-Old Campaign Manager Stumping For Cambridge Candidate
By ANNE MOSTUE
Most of the time, volunteers for campaigns become active in politics during college, but in one local election, a volunteer is starting much sooner.
When a political candidate has little political experience, everyone around her has something to add, some experience to share, or some intangible to help the campaign.
Take, for example, Joyce Gerber, who is running for the Cambridge School Committee, and needed help analyzing voter data:
“I had just posted a job description at the Harvard School of Government, because I was looking for someone to help me with my campaign. I knew what I needed.”
What Joyce didn’t know is that her next volunteer didn’t drive, couldn’t vote, and stood as tall as her elbow. She bumped into a neighborhood kid, Zev Dickstein, an 11-year-old 5th grader. Zev is a political wonk beyond his years, whom Gerber had met volunteering for Elizabeth Warren’s campaign.
“We had a little discussion, we had a policy discussion. And he sent me a very nice email and said he would love to be my campaign manager,” she said.
That’s right; campaign manager.
Gerber told him she would talk to his mother, who signed off, and Zev soon began knocking on doors for Joyce’s school committee bid, just as he’d done for Warren’s campaign.
Zev said he learned a lot from Warren’s campaign.
“I learned how to canvass, I had no idea in the beginning,” he said. “And, I learned what people thought of campaigns.”
In the cynical, political world it might be easy to see Zev, The Campaign Manager, as a mere gimmick. But, the boy has been doing the grunt work that thousands of campaign workers do all across the country every year:
“I create voter lists to contact, I do strategy, I helped with the Web site, I created the campaign literature. Luckily the election, I mean it’s mostly in the summer.”
Summer is a time when most 11-year-olds are in camp, in a pool, or riding their bike to a friend’s house. But Zev has his time management down pat.
“I do my violin when I get home, then I work on the computer for Joyce. It’s really busy,” he said.
In politics, sometimes you need luck to fall your way.
This Sunday, when Zev helps Joyce kick off her campaign at a Cambridge block party. This 11-year-old will also be performing magic tricks.
|Zev Dickstein, credit Anne Mostue / WGBH|
This 11-year-old campaign manager made my morning. It is the type of “motivational injection” that last me a whole week.
Living in Greenwood (Demographics – 2010 Census updates)
|Source: Zilliow.com; demographic information comes from data in the 2000 U.S. Census.|
Living in Greenwood (To Be Continued…)
Spoiler alert! I have been living in Seattle for the past 7 years. I lived in U District (bought my first piece of furniture, a old old wing back chair from a lady in Bryant), Northgate, Central District (23rd and Jackson), and now Greenwood.
I enjoy living in the North Seattle area. But out of the 4 neighborhoods I lived in, Greenwood is my favorite. Hold your breath! (maybe not for too long, just a little bit) I would love to give you a short review on Greenwood, tomorrow!
First, please let me show my love for.. BEER. 😉
More to come. Thx!!
JOIN YOUR LOCAL REAL ESTATE ASSOCIATION!
Tonight was our first night attending our local Real Estate Association event. If you are an real estate professional in the Puget Sound area or interested in working with other professionals in this area, I mean lawyer, accountant, adviser, investor, broker… no matter what hat you wear or how many you wear, YOU SHOULD JOIN – Real Estate Association of Puget Sound.
It was a great great new member event, featuring Louis Brown! Tonight was only an introduction. I will be coming back again on Sat for a whole day training! I will write a few more blogs on what I learned (and will learn) from Lou over the weekend.
Besides Lou, I also met some of the most wonderful people in the room. Today we got to speak with Ms. Wendy Ceccherelli. To be honest, her blog was my inspiration – why don’t I write down the encounters I had while learning how to invest in real estate? I love her blogs and that’s why I started this one 🙂 Can’t believe I actually met her in person today!! Only when I got home and click on my RSS, I realize — OMG. I just talked to Wendy! IN PERSON! Please consider this as my little fan fever.
Wendy is fabulous. I wanted to share with someone about the leads I have been getting these few days. Oh, did I mention I got new business cards for me and Brian? “If I close on a real estate transaction due to your referral, please let me know and I will send you a check for $500!” I did what Alan (remember our Rich Dad class?) told us to do, and have been distributing my cards since I got them yesterday. Can you imagine it? I have a few leads already! But now I have to think about the strategy, the analysis, how to change a lead to a real deal…
I believe: one shall only touch the wall to tell it’s hardness (let’s hope we use our hands, not our heads). I approached Wendy after the event. Let’s cut the chase, here is what I learned today. Ask people about their investment goal first, then tell them what you have. And a little revisit of what Alan taught us: you got the contract, you got the deal. Must must must remember to get a seller under contract before you present the opportunity as a “deal”!
I enjoy learning from experienced people, very very very much. Can’t wait for the day I am sharing with new investors who is standing where I am today! 🙂
Talk to investors in your area. Enjoy!
Refreshing Kitchen Color Theme and Kitchen Remodeling Work-Book
I just can not resist this ocean blue!
Uh-oh.. there we go. Me setting crazy plans again.. Why don’t we take some time to review how to plan and execute a kitchen remodeling this time, and I will consolidate a few good blog posts about DIY refinish kitchen cabinets and backsplash next time? Ohhh, and counter top material as well 🙂
Work-Book to Kitchen Remodeling
- Are you remodeling your kitchen within the existing footprint?
- Do you want to relocate the sink or range, which would mean moving the plumbing or gas lines?
- Are you planning on opening up to another room and you aren’t sure if you have a load-bearing wall? This might require structural work and unforeseen costs.
- With new construction, you might have already heard prices referred to as the cost per square foot, but this formula rarely works with remodeling. Every home has unique conditions due to age, construction type (masonry versus frame, for example) and layout.
- Detailed pricing information up front will help you meet your budget. Where to start? Here are a few suggestions.
Custom Media Wall for less than $2,000!
This week: Frugal-tastic Media Wall $2,000!
As a real estate newbie, I am always a little hesitant about the basement. It is dark, gloomy, enclosed… A custom media wall may cost you at lease $5,000 in addition to the overall remodeling of the area. Geez. Let’s just through a TV on a stand and call it a media corner!
Well, we have an cheaper alternative for you and it looks just as cute!
If you are interested in a tutorial, here is the designer’s website: http://www.no29design.com/2012/04/built-ins-part-one.html
See before and after here