Archive for April, 2008
Pasadena Real Estate on the Rail – Gold Line Connects you to Old Town
April 19th, 2008 categories: Seller Financing
Learning to use public transportation (the metro) was really a stretch in the beginning, but now it’s a cherished aspect of travel for my whole family. The gold line’s Memorial Station drops you off a block or so from historic Old Town Pasadena, one of the most delightful places to hang out this side of the Mississippi.
Holly Street Village sits right on top of the Memorial Station, and has the distinction of being the only apartment community situated within the heart of Old Pasadena’s renaissance district. This property is the winner of the prestigious Gold Nugget award for its architectural design and land use planning. The units are 1 and 2 bedrooms each:
- Monthly Rent From: $1,695 – $2,700
- 151 E Holly St., Pasadena, CA
- Phone: (888) 699-7938
And, happily, my daughter’s cheer gym, Victory Cheer Company, (we’re going to World’s in Florida next week!) is only a block from this stop, so all I have to do is get her to the Sierra Madre Villa Station and she’s good to go. It cuts my taxi service commute from Temple City in half.
It was funny how much resistance she had to the whole idea at first . . . public transportation . . . how “white trash” is that? Is it safe? Is it sanitary? And why are you so lazy, Mom, that you can’t even drive me to cheer like all the other moms who really care about their kids?
We made the first metro rail trip together, and then she was on her own. Not long after she got comfortable with the gold line, we discovered that Metro Bus 267 would take her from Temple City Blvd/Garibaldi (a block from the house) and drop her off within 10 feet of her cheer gym on Walnut/Fair Oaks! 
How cool is that? Now, I can’t even talk her into a ride because she feels so empowered by her autonomy. And sometimes after practice, she’ll walk herself into Old Town to get a frozen yogurt from PinkBerry.
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The Report Every FSBO Must Read: “The BOFS for the FSBO” – 3 Magic Words: Owner Will Carry
April 18th, 2008 categories: Seller Financing, Selling Your Note
Now, some people might think it’s a bit strange for a real estate broker to be writing a post like this, but for where I’m coming from, it makes perfect sense.
Whether you own your property free and clear, or you owe more than your property is worth, I am dedicated to showing you, the “Fiz-Bo” (For Sale By Owner), how to have the “Bo-Fiz” (Best Opportunity For Success) in today’s market.
If you’re a FSBO, then for your BOFS you’d BOSF because you’ll SFOB.
Translation: If you’re a
- For Sale By Owner, then for your
- Best Opportunity For Success you’d
- Better Offer Seller Financing because you’ll
- Sell Fast Offering Banking.
So you need or want to sell, and you want to sell without an agent because:
- You’d like to keep the change in your own pocket, thank you, or maybe…
- You’re a licensed real estate agent or a seasoned investor who doesn’t need any help navigating the territory, or maybe…
- You just plain hate real estate agents, or maybe…
- You think you can’t afford one because you’re practically upside-down and worried that you won’t even be able to sell it for what you owe, let alone pay a commission, and darn it, you just want out from under this thing! If this describes you, the good news is that the bank will pay the closing costs, and you can afford a real estate professional certified in short sales to help you.
Regardless of which category you fall into, chances are you want to:
>Get your price regardless of market conditions
>Close quickly
>Have more buyers looking at your property
>Have a competitive edge over the 12 other listings on your block
>Defer any capital gains that may apply
>Maybe monthly cash flow would be nice, with the option to
>Get a lump sum of cash at any time . . .
Do I have your attention? OK, let’s talk.
It’s no secret that the housing market is in a recessionary mode, and that there is a global liquidity crisis. Individuals and corporations can’t get loans. Nationally, there will soon be at least a 12-month supply of houses. This means that the average home, without substantial price reductions, will take a year to sell.
Let’s face it, many buyers are holding back. There is downward pressure on prices, and willing buyers are having a hard time getting financing. That means that when you are trying to sell your property, you are competing with many other sellers for precious few willing and able buyers. How can you give yourself the competitive edge?
Sellers can substantially compensate for whatever is, or is not, happening in “the market” today and create their own liquidity, their own market. Most banks, mortgage brokers and some real estate professionals don’t want you to know this:
Sellers can get top dollar by offering terms
I’d like to teach you some yoga, some fiscal yoga. I’m excited to introduce you to ideas that can increase your economic power through financial flexibility. With a little guidance, there are monetary postures you can hold that you probably never dreamed possible. Learn to meet your financial objectives regardless of market conditions.
Many people are deciding not to sell, thinking the timing is just not good. You, as a FSBO, are obviously trying to sell because you really need or want to, but the offers aren’t exactly streaming in, and you’re wondering if you should take it off the market or reduce the price considerably.
What if there was another option to explore?
If you will advertise your property using these 3 Magic Words: “OWNER WILL CARRY” you will instantly increase your chances of putting a very nice transaction together.
So, what exactly does that mean? Carry what?
Carry the financing–become the bank on your own property. (Read more about this). Instead of the owner, you become the beneficiary. You receive the monthly payments made by the buyer.
By offering terms, you will instantly increase the potential number of buyers for your property.
There are great buyers out there with cash and decent credit that just can’t get a loan right now. For an example of a real life success story, read the whole article.
Here’s how I can help you maximize the seller financing strategy:
- Guide you in selling quickly for top dollar
- Make sure you create a good note
- Buy it from you if you want to walk away with cash
1) Set up a formal consultation for a fixed price where I can look at your situation in depth and recommend a course of action, or maybe several, that you can follow in order to achieve your objectives.
2) When you find your buyer, you can hire me to do the underwriting and make sure you have a real estate note that’s worth holding, or one that will sell for minimum discount in the secondary trust deed market. I’ll help you work with the buyer to see how everyone’s needs can be met. There are many ways to play the game. You just want to be sure that you understand the risks and rewards of any proposed course of action.
3) If your property is in Los Angeles County, you can use me as a discount broker, with many of the perks of representation for a fraction of the price. This includes a custom internet flyer and a dedicated 800# so potential buyers can call and get recorded information 24/7.
4) You can go FSBO for a while, and if you’re still not getting results, you can choose a full listing service (L.A. County only) and have all the advantages of being listed in the MLS and on Realtor.com.
5) Once you close escrow, and you’re holding a great note, you can keep it and collect the payments, or sell all or part of it to raise the money you need at any time. I will always be standing by to buy your note and get you instant cash.
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Related articles:
- The Secret of Turning Your Best Investment Into an Even Better One
- Financial Storms Offer Advantages to Sellers Willing to Carry Paper
- Dispel the 5 Myths of Seller Financing
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Temple City Gets a Taste of Beto and His Beautiful Sangria at Beto’s Grill
April 17th, 2008 categories: Seller Financing
OK, so I am sorry that the last business in this location didn’t make it, but I am really happy to have a new Mexican restaurant in town. I first ate at Beto’s Grill over in San Gabriel, and now the young, aspiring Alberto Ocana from El Monte has opened his second store here in Temple City (Temple City Blvd just south of Las Tunas).
I love sipping on Beto’s (short for Alberto) fresh and delicious sangria. Some sort of mix of red wine and watermelon chunks, it’s absolutely delightful on a warm afternoon. Just recently they got the license that allows them to serve beer and wine (and apparently, sangria).
Knowing that many people need to eat quickly on their lunch break, he offers a tasty lunch buffet for $8.95. You’ll definitely leave happy and full enough to fall asleep at your desk until your afternoon coffee break at 3:00.
And you’ll love the service. The ladies that work at Beto’s are always so kind and gracious.
Even though he’s in his 30′s, Alberto has a long 20-year history of working in the restaurant business. Three years ago he opened his first grill in San Gabriel, and before he’s through, he will have a total of 8 separate locations.
Welcome to town, Beto . . . you’ve got me hooked on those icy sangrias that will help me through the hot summer days just around the corner.
Just one suggestion . . . you might want to hire a bus boy that doesn’t tire so easily.
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