*Keep an open mind. Just because the neighborhood looks run down and you might not want to live there personally, it doesn’t mean that house won’t resell or rent to someone who can afford it.
*Avoid neighborhoods with multiple foreclosures. You will eventually have to compete with those houses for tenants.
*Aim to charge rent that totals about 1% of the purchase price. So, if you buy the house for $150,000, make sure that you can charge $1,500 monthly rent. That offers a healthy annual return of 12% before expenses and provides a good cushion in case there are unexpected repairs.
*Only buy the first mortgage. If you bid for a home at a courthouse auction make sure that the mortgage you buy is a first mortgage and not a line of credit or other subordinated loan taken against the property. Only the mortgage in first position can ensure you the keys to the house.
Be aware of back taxes, which need to be paid in order to take ownership of the house. The back taxes have to be figured into your acquisition costs.
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Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Monday, June 1, 2009
Tuesday, May 26, 2009
Click Here for More Information and Photos!
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Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Wednesday, May 20, 2009
Click Here for More Information and Photos!
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Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Click Here for More Information and Photos!
_____________________________________________________
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Saturday, April 18, 2009
Petoskey - All offers Considered
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Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Friday, April 17, 2009
First Time Homebuyer Tax Credit
The Internal Revenue Service announced that taxpayers who qualify for the first-time homebuyer credit and purchase a home before December 1, 2009, have a special option available for claiming the tax credit either on their 2008 tax returns due April 15, 2009, or on their 2009 tax returns next year.
Qualifying taxpayers who buy a home before December 1, 2009, can get up to $8,000 or $4,000 for married filing separately.
ÒFor first-time homebuyers this year, this special feature can put money in their pockets right now rather than waiting another year to claim the tax credit," said IRS Commissioner Doug Shulman. ÒThis important change gives qualifying homebuyers cash they do not have to pay back.Ó
The IRS has posted a revised version of Form 5405, First-Time Homebuyer Credit, on www.IRS.gov. The revised form incorporates provisions from the American Recovery and Reinvestment Act of 2009. The instructions to the revised Form 5405 provide additional information on who can and cannot claim the credit, income limitations and repayment of the credit.
This year, qualifying taxpayers who buy a home before December 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.
The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000 or $150,000 for joint filers.
For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase.
The IRS also alerted taxpayers that the new law does not affect people who purchased a home after April 8, 2008, and on or before December 31, 2008. For the taxpayers who are claiming the credit on their 2008 tax returns, the maximum credit remains 10 percent of the purchase price, up to $7,500, or $3,750 for married individuals filing separately. In addition, the credit for these 2008 purchases must be repaid in 15 equal installments over 15 years, beginning with the 2010 tax year.
_____________________________________________________
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Qualifying taxpayers who buy a home before December 1, 2009, can get up to $8,000 or $4,000 for married filing separately.
ÒFor first-time homebuyers this year, this special feature can put money in their pockets right now rather than waiting another year to claim the tax credit," said IRS Commissioner Doug Shulman. ÒThis important change gives qualifying homebuyers cash they do not have to pay back.Ó
The IRS has posted a revised version of Form 5405, First-Time Homebuyer Credit, on www.IRS.gov. The revised form incorporates provisions from the American Recovery and Reinvestment Act of 2009. The instructions to the revised Form 5405 provide additional information on who can and cannot claim the credit, income limitations and repayment of the credit.
This year, qualifying taxpayers who buy a home before December 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.
The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000 or $150,000 for joint filers.
For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase.
The IRS also alerted taxpayers that the new law does not affect people who purchased a home after April 8, 2008, and on or before December 31, 2008. For the taxpayers who are claiming the credit on their 2008 tax returns, the maximum credit remains 10 percent of the purchase price, up to $7,500, or $3,750 for married individuals filing separately. In addition, the credit for these 2008 purchases must be repaid in 15 equal installments over 15 years, beginning with the 2010 tax year.
_____________________________________________________
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Tuesday, April 14, 2009
Click Here for More Information and Photos!
_____________________________________________________
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Click Here for More Information and Photos!
_____________________________________________________
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Click Here for More Information and Photos!
_____________________________________________________
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Friday, April 10, 2009
March 2009 Sales data
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Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Monday, April 6, 2009
Click Here for More Information and Photos!
Houghton Lake home with views of lake
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Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Saturday, April 4, 2009
Click Here for More Information and Photos!
Here is the most recent foreclosure via the WWBR Multiple Listing Service.
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Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Thursday, March 26, 2009
Click Here for More Information and Photos!
_____________________________________________________
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Clich here for Pictures and Info
Where can you find a house for $8,500? Right here!
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Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
________________________________________________________
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Wednesday, March 25, 2009
Click Here Photos & Details!
This foreclosure home is located near Indian River in the Inland Lakes School district.
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Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
_____________________________________________________
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Tuesday, March 24, 2009
Looking for a Deal?
My real-time notification system alerts you when new listings - foreclosures or any other type - post to my Multiple Listing System. Just tell me the the area and price range you are interested in. When you see something you like, just call or email me to schedule a showing. Don't miss out on the available buying opportunities!
Contact me at billy@billyandrew.com or 231.420.9231
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Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
Contact me at billy@billyandrew.com or 231.420.9231
_______________________________________________________
Do you want real-time notice via email when foreclosures become available? Just email me at billy@billyandrew.com with the subject line: Foreclosure Notice. Feel free to put any additional information you believe could help me assist you in your search.
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