How do you jump almost drafting a up a contarct to go a condo?
Question:
I have a condo surrounded by NYC. My tenant wants to buy it. They asked for a contract. How do I turn about finding an attorney and what will this cost me?
Answer:
Search Engine a indisputable estate attorney to find one, make sure they are experienced. Cost will depend on how much you entail him to do, contracts, disclosures, etc. In Chicago, they usually charge roughly $500-600. You can also contact a local a few different Realtors to see what they would charge to do all the paperwork for it, should not be that much.
what is an legitimate rate for a realtor to charge for doing paperwork simply on a Dutch auction?
Question:
Answer:
They're going to try to get 6% of the price of the home if no other realator is involved and 3 % if nearby is another one involved.."paperwork"? That's where adjectives their charges come from. They can show you homes all daytime long and you aren't charged.that's their free side in directive to do "business" with you on the paperwork side.
\depends on the mart price but I would typically say at tiniest 1000 transaction coordinator fee
An adjectives rate for a Realtor is what you feel that agent is worth. Most agents will ask for 6% or more but they really aren't worth that. Most average agents are in recent times pushing paper. More skilled agents are out doing the trench work to fashion sure your home gets sold. It comes down to this if an agent can provide your home within 90 days or smaller amount you as a home owner save abundantly of cash and I ruminate that a higher commission is defensible. But you should never buy a BMW with KIA features, implication if an agent is performing sub-par costing you more dollars and not being a asset to the selling of your home they should be fired or the commission should be in the swing of things to fit that agents skill.
If it's paperwork only, hold the settlement/real estate attorney draw it up for a flat fee. Your realtor is a salesperson, not an attorney.
A few comments.
Understand that when you ask a licensed agent to comfort with the paperwork they are taking on a party amount of liability. Stuff happens and they could be sued. Even if they did not construct a mistake. Hence you are buying more than just someone to teem in the blanks.
Also entry that even if they are 'filling in the paperwork' it is adjectives that they will still be expected to help save the deal contained by place. Chasing missing items, making sure that others are not dropping the ball, etc. If you are going adjectives that and are willing to hold the risk that small stuff blocks the deal consequently the agent is not being asked to invest deeply of time.
Why even have an agent to lately fill surrounded by the paperwork? Why not hire an attorney to do the same for a fixed hourly rate? Note that surrounded by some states you will not need an attorney to close as the title and other work is handle by an escrow company. In states where you in general use a lawyer for the closing they can buy and sell with the paperwork to submit an proffer.
Is there an agent on the other side? Are you expected to single use the Realtor approved forms in your nouns?
I am an investor and I do not have an agent's license. I can crawl in my own paperwork as I own done many deal and studied RE for some time. I still will use an agent in some of my deal so that I have someone to do adjectives the time consuming tasks (buying or selling). If I need official advice I acquire a lawyer. Note plentiful of my deals are done short a lawyer as I close at an escrow company within states where advocate are rarely used for a transaction.
You want to decide a moment ago what you expect the agent to do. If you want advice and education based on their training and prior experience expect that you have need of to pay a unbiased amount for them to take on the risk. Most agents who are experienced and skilled at what they do will not work for a minor excise. They know that most deals are not so straight forward that it is worth the working for a minor sum. In the cases where on earth it is they likely will suggest you find a advocate (and they can suggest a good one) as wadding in contracts is what lawyer are trained to do. If you want market counsel and someone to handle the details afterwards the lawyer might say aloud that they are not interested as that is not what they do.
Can a tenant withhold rent surrounded by unquestionable situations?
Question:
The pipes burst in one of the apartments contained by the building and they had to shut adjectives the water rotten. My question is if I stay surrounded by a hotel untill the problem is fixed, can I deduct my expences from the rent? Mind you that I did stay in the future and night surrounded by my apartment with no warter. The tenant has not contacted me and will not answer my call, so I have no theory if or when they will get arround to fixing the problem. Its the middle of winter and I hold no water, not a soul should have to live surrounded by these conditions right.
Answer:
Since your landlord won't answer the phone, convey something to him via certified mail requesting notification of his intent near regard to the repairs.
Withholding rent contained by my experience is NOT viewed by the court as a valid remedy for misbehavior by the manager. Some states (like mine) allow an aggrieved tenant to escrow their rent with the court impending a hearing. Paying rent to the court is your style to demonstrate good principle and the landlord will enjoy to convince the court he acted in a timely and proper carriage to address the repairs in lay down to be awarded the rent.
Have you been to the apartment to see if work is individual done? Do everything you can to ascertain that you aren't getting service, notify the landlord you are escrowing the rent, and recount your story when the time comes. If it gets to that point, you may be awarded damages for your acting housing expenses as well.
Mail ( not email) your LandLord a concrete copy of your complaint and keep the resourceful. Have it dated and signed and mail it to your manager asking for signed receipt. Make sure you detail them you want to detuct for expenses from your Rent. If the problem doesnt get resolved surrounded by a timely manner contact your local robustness and county building Inspector and make a formal complaint.
What are some typical option for a Rent to own situation?
Question:
I am wanting to sell my house to a freind and I want to present him some rent to own options.
Answer:
Rent-to-own, AKA 'Contract-For-Deed' is a fruitless option for the buyer, it purely sounds good to the ill-informed. If this personage is truly your friend you will not do this to him or her. However, if it's more important to carry some income from this property than to keep your friend, consequently I would proceed with the following.
1. A signed rent-to-own agreement.
2. Large, non-refundable, financial guarantee deposit from the buyer. I would want $5000-$10000, depending on the size and value of the home.
This route, when (not if) I have my friend evicted I take to keep the shelter deposit and put the house on the market. This will undoubtedly dispense me the opportunity to make a spanking new friend later.
find a valid estate attorney -- for a couple hundred bucks a paralegal can draw up anything and everything you want. and even though its a friend now - -it might not be a friend subsequent. its best to go through an attorney to cover your butt and your friends surrounded by case you acquire wacky on him too.
Option 1 - Bank calls write down due. Tell your friend "Oops! Sorry." Bank kicks him out.
Option 2 - Friend's dog eat back of house. Friend eventually cannot kind payments. You kick friend out. You cannot draw from caught up. Bank kick you out.
Option 3 - Friend's friends trash house. Friend leaves on his own. You cannot get slowed down. Bank kicks you out.
Option 4 - Friend cannot catch a loan after much trying. Friendship becomes strained. Payments not made. Bank see you both out.
I am trying to buy a house through the fast public sale process, until that time it forecloses...?
Question:
we already made an offer to the wall and it was official pending the owner signs a promissary minute stating they would repay part of the monies due. It doesn't look resembling the owners will sign, and it will go through the foreclosure process. What happen to my bid? Does it affect my bid when this forecloses, or is it just a technicallity? Bottom file, do I get the house?
Answer:
Been at hand. Bottom line is you will take it IF the bank feel they can't get a better proposal. I go to the merchant banker and develope a relationship so they know I intend to flip it and pay it sour so they make a profit.
I don't get the drift the homeowners that think they can pound the system. I talked to one right up to D-Day and its close to he felt he be waiting for the winning LOTO ticket.
probably not,
you may be capable of get contained by line first and catch the home at auction.
Dont know. But I wrapped a mortgage on a house in similar situation...it's close to assuming the loan, but you skip the bank and work directly near the owners. I paid in the region of half for the house and lot, give the owners a couple thousand for their equity, moved them out and some rentors inworked out fine so far.
Are you buying this property for personal use or as an investment? Your probably not getting the best deal on this deplorably.
I would suggest trying to get the property within the pre-foreclosure stage so you can work with the owner of the property direct and not the hill. You can then negotiate near lenders with A Lot more leverage when you bring back the property in pre-foreclosure.
If you involve a good coach to cram the process so you don't get stuck paying more...I would recommend trying to bring back Chris Harris from http://scbuyshouses.com
property ,house, no-homophobia low cost?
Question:
around 5o thousand dollars can I fulfill my fantasy surrounded by the us prferably states (that are not in land)
Answer:
you really inevitability a Realtor. you need one that can explain "agency" to you and communicate you how she will protect your interests. you need a Realtor that will coordinate everything next to your real estate attorney and the lender you choose.
by the channel: "homophobia" refers to a fear of homosexuals, not to fearfulness of buying real estate. fitting luck!
Hire a realtor.
When you buy a home and own it appraised and you reward for it are you officially competent to enjoy a copy of that repor
Question:
Answer:
Yes...but, it can take a flawless 3 or 4 weeks before you acquire it. Past that I would be calling and complaining.
Absolutely. You paid for it, it's yours.
Yes- you should enjoy actually signed a document call "Right to receive appraisal" disclosure during the loan process. This is part of a group of disclosures particular as RESPA docs. The are required by law (US) and describe adjectives you rights in the loan process. One such right is your right to receive your appraisal.
Yes, not individual can you have a copy, you should not enjoy to ask for it. You should just receive it
You can ask the lender to dispatch you a copy. Typically, since the appraisal is ordered for the benefoit of the lender it remains in its possession
Yes. Contact the appraiser or your lender and hold them send you a copy. Most appraisals can be emailed. When you signed your loan documents to purchase the property, in attendance should have be a notice or disclosure stating your rights to a copy of the appraisal.
Yes.You own a legal rights to enjoy a copy of your appraisal if you have remunerated for it.
What would you say aloud are the drawbacks to renting out your own apartments as opposing using a realtor?
Question:
What would you say are the drawbacks to renting out your own apartments as unwilling using a realtor
Answer:
for me, personally, I wouldn't want to hold to go through the integral showing of the apartment and doing a credit check, etc. it also seems to me that if someone rents through a realtor, they're probably more possible to actually salary the rent. I wouldn't want to have to treaty with the tenant that don't pay- I'm not sure how much recourse you'd have contained by collecting the rent
Exposure.
If you can find a good property commissioner who specializes in single kith and kin homes and condo's, then you are probably best near that scenario. Be prepared to pay at tiniest 5% management allowance (of rents).
A good property inspector will have adjectives of the rental forms and liability issues covered. He/she will also know about running credit and criminal surroundings on each prospective tenant.
Whether you do yourself or contract out, produce sure your contract gives you the right to inspect the property once a month and gross sure that you get plenty money up front for security deposit to cover any overexploit.
If you have not nonetheless purchased the units you are going to rent out, remember that within your financial analysis, you need to draw from at least 25% return on your money (based on how much dosh you pay for respectively unit) in proclaim to get a comparable return for what you would catch on an investment that doesn't require a great deal of headship like rental properties do.
Im a novice investor. Where can I find a Joint Venture Partner for my deal?
Question:
Answer:
You can get a pooled venture partner here:
http://scbuyshouses.com/forms/customform...
They partner on adjectives types of deals from the cheapest to multi-million dollar estates.
Happy Investing!
How much will a NICE One Bedroom rent for contained by West Los Angeles?
Question:
A Spacious One Bedroom in West Los Angeles
Answer:
At tiniest $1600.
Interest Only Mortgages?
Question:
I am thinking of moving my repayment mortgage to an interest only mortgage as the repayments are crucifying us at the moment. Heres the evaluation, I know the pros and cons of an interest mortgage, but we are intending to sell up and move to Cyprus surrounded by 14 years time when my boyfriend is able to hold early retirement. Does anyone hold experience of a similar situation i.e. have you gone for an interest one and only mortgage when your long term plans are to get rid of up and move abroad? Any serious advices please?
Answer:
If you enjoy an interest only mortgage and planning to move overseas contained by 14 years time, then you could find yourself surrounded by a bit of a problem if property prices were to crash for any rationale (leaving you in refusal equity).
If the mortgage payments are crippling you, then you involve to either consider downsizing to a cheaper property or shifting the term of your existing mortgage e.g. going spinal column to 25 years or to whatever the lender will allow you. Whilst you'd be intending to redeem the mortgage contained by 14 years time (which the bank doesn't own to know about) at least you'd own paid some of the harmonize off.
Whether this will work depends on how much equity you presently hold in the home. If you already enjoy at leat 25% equity, your plan works. If, however, you have smaller number than 10% equity, then your plan is of late prolonging the inevitable money loss you're going to probably take on the home.
I would one and only consider moving to an interest only mortgage if you are positively sure that you would be moving abroad, otherwise you enjoy to have some quality of repayment vehicle in place to repay the mortgage at the extremity of the term.
One article you should think in the region of, at the moment you will probably have mortgage protection policy contained by place which is a decreasing term assurance. If you switch to an interest with the sole purpose mortgage you should take out a smooth term assurance policy to ensure that the full amount of the mortgage is repaid within the event of anything happening to any of you during the next 14 years.
I can one and only give you Australian proposal. We do not have wealth gains tariff on houses that were your principal place of residance.
So what to do depends on your objectives. If you would resembling to start retirement with the maximum amount of money to support yourselves consequently an interest only loan will slim down your yield.
You said you know the pros and cons of the loan so you are evidently happy beside less money at the train of the day. So walk for it. It is common for ethnic group to struggle with delay gratification so you might want to make your enthusiasm easier today because you may find it easier when it is harder in 14 years time. :)
Just my thoughts.
i am looking for housing associations for family contained by manchester?
Question:
Answer:
JULIE S You are on TV now...
★ http://www.osoq.com/funstuff/extra/extra...
These are the ones that I know are contained by the Manchester area. Sanctuary HA,Methodist and District, Northern Counties, North British, Colindale, I can't reason of others. Go to the library and get the Yellow page for Manchester or go on vein. AVOID these areas though. Longsight, Moss Side, Orsdall, Collyhurst, Higher Broughton. Stockport is a nice town, handy for trains buses, airport and some good school. Good shopping centre too.
Although im not near any of the housing associations Northern counties are supposed to be good they furnish you a good choice including contained by the city centre i agree beside the above make sure you dont expire up in moss side,withenshawe...Hulme isnt to doomed to failure anymore depending what parts its on the best bus link and simply a 5 min str8 walk into town!
xx
The local homebuy agent can put you surrounded by toach with adjectives the local housing associations, for macnhester this is manchester methodists, link below, honest luck
Robert
If I buy farming territory within TX, how much does is cost to "develop" it? And how would I take started?
Question:
I want to buy about an acre of rural land surrounded by San Antonio, but I don't have a clue how I would start to build a house on it...
Answer:
First, check near you local S.A. Building/Zoning Dept. See what the minimum acreage requirements are for the area.
Then interview Builders who "build on your lot" or are "offsite builders"... ones who don't basically build in subdivisions.
Typically builders will "develop" it for you (for a charge obviously).
Long story short - check with some builders to see what services they contribute!
Good luck in your New Construction pursuit!
Depends on the restrictions. I would assume San Antonio is pretty in good health sub-divided, thus having requirements for culvert, roof, plumbing, building permit, etc.
If you had any belief how complex your question is, you wouldn't enjoy asked it here. Furthermore, if you are talking around undeveloped ground within the city of San Antonio, at hand is no such thing. There is domain upon wich nothing is built, but i.e. not the same an "farming." The design and permit process alone is overwhelming to most folks. I would recommend that you find a builder first, and hold that builder advise you on the feasability of any design until that time you buy the dirt.
First thing, ask the planning and zoning board what will be allowed to be built on this property. Land is zoned by the type of buildings. size , rank and use . make sure it is approved for single house residential buildings. You will then approach a builder to design and win this proposed building approved by the local zoning board.
If it is a good builder, they will guide you along.
I would recommend contacting Chris Harris from http://scbuyshouses.com
He can unified venture near you and coach you through the process. You will find out that there are seriously easier ways to make your money, Faster, minus actually have to develop the property!
You should first consult your local planning department to see if it can be built. Once you find out that info you should go to your local building department and receive an application for a building permit. Once you seize an application it will tell you what you want exactly such as survey, drawings of structue, engineering reports to show proper drainage, setbacks, etc. You should first consult an expediter to get the process moving, they know what permit to get first. Once you know what permit you need to attain first you can start the procedure such as hiring an engineer, surveyor, architect and common contractor.
I purchased a existing estate wholesaling program, But I stipulation somewhat aid.?
Question:
I purchased a wholesaling program about a month ago, but I still have trouble understanding the process.
I negotiate a price near the home owner in foreclosure and later the next step is to turn around and put on the market it to a rehabber for 60 or 65% of market meaning.
I understand it so far, here is an example. I find a property for $100,00. the owner owes the mound $50,000. The property need some work $15,000 I gain my fee $10,000 the owner get $10,000. back payments $15,000. =$50,000.
When I walk to the title Company how do I write up the contract because my understanding I go and get my check and the owner gets his check at closing, but what happen to the repair cost. The rehabber already gets a property valued below bazaar, does he also get added $15,000? It looks like the rehabber will be buying the property for $50,000?
Thanks for the facilitate
Answer:
First, well done on starting to study the paddock of RE investing.
Second, I believe you have the math wrong.
A short Dutch auction implies that the lender is agreeing to nick less than what might be owned. If nearby is no short sale consequently you have to reimburse off the existing financing at some point surrounded by the process. Hence you will need to factor contained by the existing mortgage when you run the numbers.
I do suggest you take a look at the website below. There is deeply of free info plus an active group of investors who involve yourself in in the forum discussions. Note that some are unknown like yourself while others are fairly experienced. There are a number of of the experienced investors who regularly hold out advice and support to those basically getting started.
Look for the how-to articles and the success follow-up submitted by investors.
please re-read your question and consequently re-word it so that i can help you. the dollar values do not fashion sense. the time frames when each knees-up does whatever he does do not engender sense either. the time frame when respectively party get some money, and what amount of money, must be made clearer. your downpayment should be stated. you make a contract near the seller back the foreclosure, or else if it is foreclosed, it will be the hill, not the owner, that is selling the material estate.
i shall be looking for your restructured question. thank you.
HELP! What do I call for to know beforehand buying a house?
Question:
The price will be 180,000
I am a first time home owner, how much do I expect to pay a month
at 5.65 interest next to all the taxes?
I am considered low income (24K a year) but I plan on renting
the rooms to my friends.
WHAT OTHER COST DO I EXPECT TO PAY?
WHAT WILL MY MONTHLY PAYMENTS BE?
Answer:
www.dinkytown.lattice
it's a website with seriously of mortgage calculators so you can plug in your income and attain payments and how much house you can afford. You can fiddle beside the numbers and interest rates and other variables to give you a bunch of take on the situation. The fact that you will be renting to roommmates isn't going to factor in--they will not count that as potential income when it comes to qualify you for a loan amount.
Get a real estate agent to abet you, make sure they agree to be your buyer's agent. That resources they are working for you and they are paid when the concord closes by the seller, not you, so it costs you zilch to get one. A lot of relatives make the mistake of thinking the information bank agent is working for them, but actually, that agent is working for the buyer. It doesn't be a sign of they aren't obligated to be fair and honest next to you, but it does mean that their loyalty lies next to the seller, not you.
Being low income, check out to see if you qualify for any HUD programs administered through your city govt. I get $10,000 from my city program because I made under $29,000 at the time I bought my house (the income ends will vary). There are other first time buyer programs out there, too. Also look at www.naca.com, they do their own fixed rate financing and it's undermarket rates. They are a non-profit housing advocacy group.
Good luck!
the pay on a 30 year term near tax and insurance will be around 1,239.02 That (PITI) principle, interest, export tax, and insurance. You will also be paying all the utilities
About 1,800 to 2,500 a month next to water, gas & lights. If you can receive a buyers home warenty insurance the person you buy from should provide it. Keep it after it runs almost $300.00 a year but covers so much! My son floded the bathroom we had going on for $5,000 worth of work cost us $45.00!
Hehehe, I remember flooding my parent's bottom floor accidentaly when my 50 gallon fish tank broke.
My parents other complain about property due because they paid 4,000 dollars on their 400k home ultimate year.
You need to know the entitle of a bankruptcy advocate. You are sooooo far out of whack.
First of all, you cannot count on renters to pay cheque the mortgage. If they don't pay the rent, you still owe the mortgage payoff. If you can't cover several month's payments without rent money, you can't do the business deal.
That brings me to the second point. Your mortgage payment can't be more than 25% of your monthly take-home reward. Even on a 30 yr mort., you'd be paying over 50%.
Thirdly, you'd need to put down $36,000 (20%). That covers you contained by case Murphy comes calling (new roof, tentative furnace, etc). It gives you built-in equity surrounded by case you capture in a bind and own to sell.
You also involve to be debt-free. With credit card payments, car payments, student loans, etc, you're putting too much strain on your income of late to keep your lead above water. One lay-off or disease and you're in the street. Along next to that, you need 3-6 months expenses contained by the bank. That would be more or less $8-10,000 in your baggage. That's for emergencies, approaching your engine blowing up, or a lay-off, or that leaky roof.
Your plan is a dead set, guaranteed recipe for ruin. With your income, I'd give you going on for a 2% chance of keeping the house more than five years.
If you've applied for a mortgage, later the bank will narrate you how much you'll pay. Also, most bank have mortgage calculators on their websites.
It's not freshly the monthly mortgage payment that'll become due. If you own less than 20 % , i.e. you are putting smaller quantity than $36,000 down on a $180,000 mortgage, you will also pay PMI (private mortgage insurance). Plus, here will be property taxes which will be added to your monthly payment and compensated directly by the bank. Also, within will be one-time costs - such as for a title search, the attorney, etc. There will be a batch of $$$ up-front that you obligation to pay.
Also, merely a a note: if you're planning to rent out rooms, do obtain a proper lease agreement. Especially if you're renting to friends. Mixing friends and business = normally not such a obedient idea.
Check out the book "Home Buying For Dummies":
http://www.amazon.com/home-buying-dummie...
Good luck!
.
Your payments are dictated by the rate you clear as well as the size of the loan. Risk determines your rate. If the public sale price is 180,000, and you finance 100% of the money (no money down) you will be considered a better risk. As a rule; 5.65% generally does not exist for 100% financing.
If your loan size is $180,000 your principal and interest contribution would be $1,039.02. Put, if you really are going over 80% loan size to the value of your home you will most predictable have to recompense Private Mortgage Insurance. This is something that only protects the lender, not you. You should try to find someone who does not require this. Including this donation you would pay $1,138.02. If you desire to escrow your payments (including taxes and insurance for the home in respectively payment fairly than paying on your own in lump sums) you can find out what the taxes are on the home by calling the county treasurers department. Take the total taxed amount, and divide this by 12 (months contained by a year) adding this attraction to the payment to determine what taxes human being escrowed will cost you. Insurance varies by company, but duplicate calculations apply. I would estimate that beside taxes your payment will be $1,316.52. I do not know what insurance would be. If it is contained by the hurricane states expect to get raped.
If they are asking 180,000 for the home, and you are going to nouns all of it, you will probably hold to sign a sales contract for a high amount to factor in closing fees.
There are 3 types of closing fees. Prepaid items; include prepaid interest, taxes, and insurance. The prepaid interest sets you up for a couple months of deferred payments so that you don't engender any payments until the determined date. Taxes and insurance are setup for the escrow payments if you want to pay them as subdivision of your mortgage payment.
3rd shindig fees; these are dicated by the government/state/county. Recording title, state/county tax stamps, anything fees the government determines everyone have to pay.
Lender fees; these include processing and underwrite (which keep the lights on) and origination/discount points. If it's contained by the form of a point you can write off the amount contained by your taxes. Generally if you pay more here your rate is lower. Consider the rate vs points spectator sport a teeter totter. Higher rate = lower points, lower rates = higher points. Points are a percentage of the loan. Ie; 3 points = 3% of your loan. 3% of 180K = $5,400 surrounded by closing fees.
You also may need to wages for an appraisal/survey of the home you are buying. You may also be on the hook for notary fees if you decide not to jump with a in no doubt lender. If you have to sign a waiver saw you will be required to reimburse the broker/lender if you do not use them as the finance company, you are screwed. That could be as much as 2000 out of pocket.
If you are going to put money down, these info WILL change. I am totally sceptical about the rate you are claiming you will clear. Especially since you did not say anything more or less putting money down.
If you are going through a broker, you may want to be carefull. Brokers periodically pull bait and switch strategy by promising you an amazing rate, and then shifting the terms of the loan once you sit down to close the loan so that you have a feeling painted into a corner and can't go elsewhere. If this machinery asked you to pay for an appraisal/survey of the home, this should throw up another red flag that this is a broker. Many organization will pay for it themselves.
If you enjoy received a good principle estimate from a lender, keep surrounded by mind that document is as good as the toilet dissertation in your bathroom. The lender can vote and write up 5.65 all light of day. I can send you a suitable faith estimate near negative fifteen percent if I really considered necessary to. Make sure you are discussing things with the actual lender, and not basically the broker.
I doubt with your income you will qualify for a conforming loan. I know I wouldn't. Not to demean you, it's freshly really difficult. You also need 6 months of currency reserves in the dune, and on my income that's difficult to do, so I expect it's the same near you. That's not to say you don't qualify for a loan. You would qualify for a non-conforming loan, or specialized loan. Same programs, of late different rates and plans.
Your question requires familiarity of both mortgages and real estate investing. I'd suggest you contact an investing legitimate estate agent. Not all agents are investors, so be sure to ask. They will be capable of advise you and aswer this give somebody the third degree for you.