Answers - RE Investing

Here’s the question:
Randy asks,
“Is it possible to transfer a property into a corporation and out of my name? I have several mortgaged rental properties that are worth less than I owe, and an investment company has offered to take over the properties, although the loans are not assumable.
Any options here?”
My Answer:
Randy,
You can’t transfer any [...]

Here’s the question:
I’m a first time home buyer. I recently try to purchase a REO property which own by SPS Select Portfolio Servicing, Inc. While reading through the contract, i find it really long (11 pages) and not very easy to understand. Is this normal for a purchase contract to be that long? Does anyone [...]

I get this question a lot so I’m surprised I have yet to answer it.
Investor mortgage programs are always very tight on underwriting standards especially the loan-to-value (LTV) quidelines.
Apartment building mortgage programs are even more so since it is a special investment property which takes highly skilled and experienced business people to make [...]

Here’s the question in total:
“My husband and I purchased a lot in West Virginia in 2005. It was an investment in a new development. Long story short, the developer took the money and didn’t do anything. We paid $70000.00 for the lot. We put 10% down and $63000.00 is in a balloon loan that is [...]

Reader question”
“Is it easier to evict a tenant on a month to month lease than one on a 1 year lease?”
My answer:
A tenant is in default of his lease is in default on his lease regardless of the duration of the lease.
So the answer is “No”. A default is a default…plain and simple.
The [...]

The question:
“Is it legal to do a short sale on a house not in foreclosure and then lease it back to the owner?”
My answer:
Sure it’s legal, I don’t see why not. The real question is why would a lender do a short sale on a home not in foreclosure?
They won’t is the answer there. Short [...]

The question:
“Has the housing market dropped enough to consider real estate investing again?”
My answer:
Well, we have seen about a 12 percent drop in home values in the last year (currently 4/08) and everyone is “calling” the bottom of the slide should you believe the industry pundits.
I don’t.
We still have a another 12% at [...]