Uncategorized

How to find a real estate agent in Tucson Arizona, and what traits to look for

BrandonL Uncategorized

mortgage-calculator

How to find a real estate agent in Tucson Arizona, and what traits to look for.

You survived the summer heat of Tucson Arizona, driving to work every day. You never called in sick, you worked hard, and your boss finally decided to give you that raise you have been working for. Now you are looking to purchase a home. You ask yourself, “How do I find a real estate agent?”

That is really the easy part. There are hundreds of real estate agents in Tucson. Throw a stone, and you will hit 10 of them waiting like sharks, salivating at the thought of closing a new home buyer quickly so they can move on to the next paycheck.

The more important question to ask is “What traits should I look for in an Agent”

Like you, I was once in this position, and I was lucky enough to stumble upon an agent that not only made me feel like his only client, he also protected me from an unethical mortgage broker, who attempted to scam me out of thousands of dollars.

THE DANGERS IN REAL ESTATE ARE REAL- AND CAN COST YOU THOUSANDS!

Buying your first home can also be amazingly rewarding, if you have a professional at your side.

I still remember how I felt when I received the keys to my first home at closing. It made it all worthwhile. I had started out shopping for a meager foreclosed condo, but since my agent had extensive knowledge of the area, he was able to get me into a brand new home, while staying within my price range. The memory of walking into a brand new house, the smell of new paint, the plastic still covering the perfect carpet, tags still on the brand new appliances…. Priceless…

Once you experience this for the first time, the smell of a new car will have no meaning.

Today I am going to share with you what I look for in a real estate professional.

  1. They must share knowledge freely, and answer any question you may have at any time.

Taking the time to educate you on the home buying process is paramount to a successful purchase. If a real estate professional is to bothered to prepare you for the process of buying a home…RUN AWAY

  1. Find someone who wants to establish a long term relationship…not someone who looks at you as just another paycheck.

There are many agents who just want to rush you through the process so they can start on the next person. This person will not protect your interests…because they are too busy protecting their own, in a paycheck.

  1. Experience going through the home buying process

Ask them if they have purchased their own home in the past. Do you really want someone who has never purchased a home advising you on your purchase?

Do you have a credit problem? Or something else that is possibly keeping you from a purchase? A good real estate agent will have solid relationships with other professionals to get you on the right track to make a purchase in the future. If you talk to an agent who ignores you after they find out that you cannot get qualified for a mortgage, don’t fret! It’s a good thing. This allows you to connect with a professional who has relationships with professionals that can help resolve your issues, and that cares enough about your goals to get you on the right track to a purchase in the future. Don’t be just another paycheck to someone.

These are 4 assets that my first real estate agent possessed, and I feel they were invaluable on my purchase, and I want to provide the same level of integrity, and service to you.  If you are interested in purchasing a home in Tucson Arizona reach out to me at 520-338-9319. I want to connect and hear about your goals for a home purchase.

ABOUT THE AUTHOR:

Brandon has been an investor in real estate since 2007, and is familiar with the experiences related to the process of home buying, home inspection, and the many other intricacies of the process.  Over the years he has formed relationships with professionals that help him get the job done no matter what the obstacle. He spends his time sharing his knowledge with future homeowners of Arizona, in an effort to keep them away from the potential pitfalls of a home purchase.

An investor’s tale, A journey to the top of the mountain, and back down again.

BrandonL Uncategorized

An investor’s tale, A journey to the top of the mountain, and back down again.

This was originally posted to my blog on http://www.biggerpockets.com hope you enjoy

After a morning of opening Christmas presents, and eating some genuinely delectable food on Christmas day, I felt the random urge to get away to be alone with my thoughts, and get my 2015 plan organized inside my head (yes I have it on paper too) I have a very active brain, it is always racing, and I find that alone time to truly analyze my thoughts and plans helps a great deal to stay focused, motivated, and helps me be honest with myself, which in turn, helps me realize when something, or someone is not helping me progress to my goals…and it, or they, get cut from my routine.

I routinely like to travel to remote scenic locations to just hear the silence, the sound of the silence is a trigger that helps me get lost inside my brain, I can visualize my plans, everything slows down, new ideas come to me, and I am able to give meaning to all my actions. I have never meditated before, but I imagine this is what it must be like. I am going to share some of my observations as I made my way up and down a mountain, and explain how I apply them to real estate, to help motivate myself (and hopefully whoever reads this) and keep myself focused on the big picture.

I began my journey by picking an area that I had never been to, it was easily accessible and offered a couple of attractions that I wanted to see. I traveled there, and began to explore. The area was small, and I quickly found what I wanted to experience, I was not entirely impressed… So I quickly began to look for other activities. I found a hiking trail that led to a high plateau that offered a view of the entire valley. I made the hike to the top; I found that I was alone with an amazing view all to myself. I could see everyone below me, but I could not hear them… I sat on a provided bench, and I let the silence engulf me. I sat with my thoughts, while at the same time observing those below me. After a time atop this plateau, my attention drifted from those below me, to the majestic snowcapped mountains across the valley from my location, and at that instant, what I had was not enough for me, I longed to be on the peaks of the mountains……

Analyzation—  The minute you and I made the choice to become real estate investors, we were not content with what we saw around us, we sought out another way to improve our lives, just as I set out to improve my view, but once you reach the top of that plateau, sometimes distraction comes from those below us. This may come in many forms. We have all heard someone say “Why buy that house when renters will destroy it” or (Fill in the negativity you have heard here) The instant you ignore those who are negative, or distracting you will turn your attention to those snowcapped peaks across the valley, and you can focus on planning how to get to there, instead of being distracted by what you see below you.

After staring at the peaks for a few minutes, my mind was made up. I had to be there. I made my way down to my vehicle, and commenced my journey. The road across the valley was longer than I had expected, but soon I was at the base of the mountain, and my accent was underway. As I made my way up I passed pockets of people, all having fun, and looking completely satisfied with where they were at. I kept pressing up. As I continued on with my journey I saw countless road signs warning me of severe weather, and road conditions ahead…as well as may other warnings that were meant to dissuade me from making my trip to the upper most regions of the mountain. I did not stop. Before long, I was above 6000 feet, and the people became fewer, and the hazards increased. The first hazard I encountered was a sheet of ice that spanned almost the entire roadway, I slowed down, and moved my vehicle over so that at least 2 of my wheels were on solid pavement. I traversed the ice successfully, I rolled down the window, the air was ice cold, and I realized I had not seen a soul around for what seemed like miles, the familiar silence was there. At this point, I experienced a flood of emotions, and thoughts. I was scared, I was second guessing my choice, my thoughts were telling me to turn around and go back, and how my ambition had again landed me in a situation that was not only uncomfortable, but potentially dangerous, as there were no guard rails on this small two lane switchback road. One misjudgment could send my vehicle, along with myself over the edge, all this is racing through my mind…and just as I came to a safe area to turn around, something in me said “why turn back now, you wanted to see the top” and without hesitation, despite the other overwhelming emotions, and thoughts, I cautiously  continued upward. As I approached every turn ahead, I would try to anticipate the sharpness of the turn…but most of the time I was wrong… When I anticipated a slight turn it would be sharp, or the exact opposite. I crossed over many ice sheets, similar to the first I had encountered, because I had navigated the first, and others ,I was confident crossing them at this point, until I came to a thick ice sheet that spread across the entire road. I stopped and got out of the truck. At this point I was above 7500 feet, and turning back was not an option (In my head, others may think differently). There was no planning my way around this ice safely, the only option was to continue over it, and to not stop, because obviously if I stop, or go too fast, I will lose traction, and slide down the mountain, and over the unguarded cliff. I continued on successfully, and after another 2000 feet of upward progress, I was at around 9500 feet, and the highest point I could reach because of a locked gate that closed the road off for the last twelve miles.

Up ahead I noticed a few cars parked in a pull out area to the side of the road, which surprised me, because on my way up I had encountered zero point zero cars.  I parked next to them, got my jacket on, and continued on foot. I met up with a group of individuals, (the introvert in me wanted to go the opposite direction) I walked up and introduced myself, and we chatted, of course real estate came up,  one of the gentlemen was a real estate agent in a major city not far away. It was three separate groups of people, and one had brought enough food and drink to feed an army of Spartan soldiers. That group invited everyone else to have a bite to eat. After some time, I decided it was time to make my way down the mountain before dark, we exchanged numbers, and I was on my way back down the mountain, with more confidence on the decent.

Analyzation— On my way up the mountain I was looking at the road, thinking of ways this road to the top could be applied to my journey in real estate, and this is what I came up with. The road to great achievement in real estate (financial freedom) has been laid down by people before you and me. We just have to study them, and follow the path they have paved, don’t try to anticipate what is around every corner, progress at a steady pace, and you will be able to handle, anything that comes your way. (What could be easier than that?!) Just like on my trip up the mountain, you are going to hear “warnings” just like the road signs I encountered. These warnings will make some people turn back. (All the people at the lower levels of the mountain I passed)What separates the winners and the losers in real estate is the ability to keep pushing forward. That doesn’t mean to disregard the warnings you encounter. Take them in, and plan, so that you can mitigate your risk on your continuing journey upward. You WILL encounter hazards. When you get to one, slow down, evaluate it, and plan the best way to get through it, keep in mind, if you are not encountering new challenges on a regular basis, this means you are not traveling down the road. Don’t let adversity stop your progress. GET MOVING AGAIN!

 You will encounter situations that you cannot plan your way out of, or even prepare for (The ice sheet that spanned the entire road) This is what real estate investors’ call “Risks”….every investor must take risks to get to the top. You must not be scared to cross that ice. The knowledge and reward you gain from taking risks can be enormous…or you can tumble over the cliff. If you tumble down the cliff, start the journey again. Do not stay at the bottom.

On our way to the top, it may seem like we are the only ones on this journey. It’s ok to be scared; it’s ok to second guess yourself, You may feel alone(Pre-biggerpockets haha) its ok to feel all those emotions, everyone on this journey has felt the same way. Listen to that small voice that tells you to KEEP GOING!  When you get to the top, there will be other likeminded individuals waiting for you with free food! (Don’t hold me to that, the people you may encounter may be cheap, or antisocial lol) free food or not, you will be at the top and you will be liberated to enjoy the view with the confidence that you can travel up and down this mountain at will ,with the knowledge you have collected on the trip. Lastly, I can even learn something from a closed road. In real estate many riches can be attained from unethical or illegal practices, don’t be tempted by these practices, remember the closed road sign, it’s easy to cross, but the moment you cross over, you can’t come back, and you take the risk of serious consequences.  Always be loyal, honest, and not greedy to strangers, and those around you, and by doing so…you will avoid the booty house…and we all know what they will do to you in the booty house….

On a side note, while I was at the top, I asked everyone why they did not turn back. The most common answer I received was that “Why be at the bottom with everyone else, when the view is way better up here” This inspired me on the way down, to stop and ask everyone I encountered as to why they had not travelled up the mountain. I heard “The warning signs made us stop” “It seemed to hard” “We didn’t know what to expect” (sound familiar?) Despite this, everyone I encountered was happy, and friendly.

Analyzation— Don’t waste your time trying to convince others to join you on your real estate journey. Everyone travels to where they want to be, and they are happy. If that means they are happy doing the 9-5 and living paycheck to paycheck until they die…let them be. While coming down share your knowledge of what it’s like at the top, share what it took to get there, share the mistakes you would do over, don’t look down on the people who choose not to follow the road you are on. By doing this you will attract others that want to journey with you, or give someone the courage to make the climb for themselves to see the view.

When I reached the bottom, I made the journey home in silence thinking about what had just occurred, and I could not wait to start typing about my observations. They assured me that I am on the right path, and if I stay focused, remain persistent, and ignore negativity, or discouraging words, I(and You!) will stand on top of that Real Estate Mountain, looking down with a smile on my face, knowing without question that my sacrifices were worth it.

Hope you enjoyed the story; please take a little time to share your comments or personal stories with me. I’m always looking to learn from others, and if you have any booty house tales…keep them to yourself, we already know what happened to you 🙂

The beginner investor guide (or anyone else) to achieve progress in 2015

BrandonL Uncategorized , , , , , ,

The beginner investor guide (or anyone else) to achieve progress in 2015

This post was originally posted to my real estate blog on www.biggerpockets.com. I feel these are some solid tips to get yourself on track for the new year. Good luck, and I hope this helps someone.

It’s almost that time of year again, the time of year where we hear about how everyone around you is going to become a new person. Lofty goals and ambitions are talked about on a daily basis. “I’m going to quit smoking” ‘I’m going to eat better” “I’m going to work out” are some of the more popular ones, but usually before the conclusion of the first month of the year, we don’t hear about the goals anymore, they are left by the wayside, because in my opinion, individuals are lazy, they realize really fast that any progress worth making takes work, dedication, and constant motivation.

DON’T BE THE LAZY PERSON THIS YEAR!

Lazy people are not bad people; they have just become satisfied with conforming to the daily grind. Waking up, going to work, living paycheck to paycheck, and looking forward to getting off so they can catch their favorite show, and stuff their gullet with some food…this is not living…its surviving…. They are slaves, and do not even realize it.  This type of life requires a minimal amount of effort, and anything in addition to that becomes tiresome, and unsustainable to a lazy person. There are variations of this person, not everyone displays this acute condition of lazy as I describe, but all variations eventually end up in the same destination…. WORK…PAY BILLS…DIE.

DON’T BE THE LAZY PERSON THIS YEAR!

With just a few simple steps, you can achieve progress in 2015.

  1. Be honest with yourself- Who knows your flaws better than you, right? Find these flaws, or weak points, and write them down, and make an honest effort to correct them. I personally do this on a daily basis. A recent flaw that I am trying to correct is wasting time on facebook “sarcastically educating” random people… I find this activity very entertaining, but to someone who doesn’t know me well, it may give a false perception that I am a mean person, and ultimately me being entertained is not getting me any closer to my goals, so in an effort to cut the temptation to sarcastically educate, I deleted all political pages, and anyone, or anything that gives me an urge to sarcastically educate. This has worked out great, because of this I am able to remain positive, and focused. Of course, I sometimes fall off the wagon, I’m not perfect…but I have significantly improved this flaw. Find your weak points, and improve them.
  2. Achieve small progress daily- This will be critical to the sustainability of your motivation. Results are addicting. So make sure you accomplish one task that gets you closer to your goals every day, no matter how small it is. If your goal is to lose weight….put down that donut, and grab some fruit (I know it’s hard) but action becomes habit, and before you know it, you will be reaching for the fruit first. The small action of putting that donut down will get you closer to your goals. Small blocks become massive walls.
  3. Leave excuses at the door- Start training your brain now! Stop telling yourself that something CAN’T be done…. Ask yourself “How can I make this happen”. No one has enough money…No one has enough time, people have kids…but yet, they are achieving success, and you’re not…. The only thing that separates you is excuses. So leave excuses in 2014, and don’t let them infect the New Year.
  4. Surround yourself with positive people- Don’t allow the people around you to discourage you in your pursuit of progress. If someone is unwilling to do something…they will tell you that you can’t do it. Cut them out of your life now. They are like an anchor of negativity holding you on the ocean floor. Take time to hang out in new social circles. Even though I am a natural introvert, and would much rather stay at home, I make it a point to meet with local real estate investors, and attend social groups that engage in activities I enjoy. The people around you can make you, or break you. The choice is yours. A good website to connect with different social groups is meetup.com.
  5. Stay focused- I am highly susceptible to being distracted. I am the type of person that wants to try everything, being honest with myself has revealed to me, that I need to stay focused. Everything I do should be helping me gain progress. Every activity should be something that will help me make those small bricks to build my wall. My long term goal is financial freedom, through the investment in real estate. Every activity I perform on a daily basis gets me closer to that goal. Every day I analyze the activities I perform, if I find they are not beneficial to my goal, I stop doing them. I have structured my life, and all my activities to support the progress to my goals.
  6. Be prepared to do it alone- Don’t count on a significant other to help you. Remember, a significant portion of the population considers it normal to work, pay bills, and die… Anyone trying to achieve anything big will be out of the ordinary. In my opinion, if you are married, and your partner is one of these people…get a divorce; In the long term it’s cheaper than dragging along. I have found that trying to steer a significant other to a certain point of view is a fruitless, time consuming effort. If they will not contribute to success, why should you have to drag their weight to the top? Find someone who wants to succeed, find someone with passion for change, and a thirst for the knowledge to get there. Now if you are not married, it’s an easier task to get rid of the dead weight. I often meet with investors with significant others that contribute nothing to success, and they often say…Well I stay with them for the kids. My answer to that is… kids are highly adaptable, and two emotionally stable parents can still raise kids properly, and live apart. It may sound mean, but guess what… You are trying to succeed to give your kids and yourself a better life. If your partner is not contributing, what is the point? I have seen way too many individuals in an unfulfilling, unhappy relationship “because of the kids” Stop trying to MAKE something work, find a partner who has the desire to succeed, you will be happy, the kids will be happy, and you will live the life you have dreamed about.

This is by no means a transform yourself in a day plan…and it is not exhaustive, and I type with my goals in mind. Your goals may be smaller, or larger.  These are some steps that have helped get me on the right track currently, and in the past. There are multiple roads to get to a destination, don’t be afraid to blaze your own path. If people are not telling you that you’re crazy…you are doing it wrong. Good Luck in 2015.

The beginner investor guide (or anyone else) to achieve progress in 2015

Wells Fargo NeighborhoodLIFT program brings $5.5 million to boost home ownership in Tucson and South Tucson

BrandonL Uncategorized

Wells Fargo NeighborhoodLIFT program brings $5.5 million to boost homeownership in Tucson and South Tucson

I just wanted to take the opportunity to share this program because I feel that it is an excellent opportunity for qualified Home buyers in the Tucson, and South Tucson areas. Please take a minute to read over the article to find out if you qualify for this program. If you have any questions, please don’t be afraid to send me a message. You can find my contact information at www.allbrandonluke.com

Tucson NeighborhoodLIFT® program, a collaboration with NeighborWorks America, The Primavera Foundation and Wells Fargo, to kick off September 5-6 at the Tucson Convention Center; Eligible homebuyers can reserve $15,000 down payment assistance grants; program also includes $500,000 to help improve Tucson and South Tucson neighborhoods

TUCSON, ARIZ.  — August 11, 2014

Wells Fargo, NeighborWorks America® and The Primavera Foundation, have joined Tucson Mayor Jonathan Rothschild and South Tucson Mayor Paul Diaz to announce the Tucson Wells Fargo NeighborhoodLIFT® program, an initiative offering $5.5 million from Wells Fargo to boost homeownership and strengthen neighborhoods in the city’s low- and moderate-income areas.

Of the $5.5 million committed by Wells Fargo, $4.5 million will go toward down payment assistance grants and program support to help potential homebuyers overcome the barrier of making a sufficient down payment.

Down payment assistance grants of $15,000 will be available for eligible homebuyers with annual incomes that do not exceed 120 percent of the Tucson area median income – which is about $68,400 for a family of four – with income maximums varying depending on family size and type of loan. To be eligible, homebuyers must meet criteria including completing an eight-hour homebuyer education session with The Primavera Foundation or another HUD-approved counseling agency.

“This program can help qualifying homebuyers, from any approved lender,” said Tucson Mayor Jonathan Rothschild, “and I’m extremely grateful to Wells Fargo for their generous donation of stabilization funds. That’s good corporate citizenship.”

“The City of South Tucson is proud to join this public-private partnership that will make homeownership more affordable for people who wish to live here,” said South Tucson Mayor Paul Diaz. “Making homeownership affordable and revitalizing our neighborhoods will make a significant difference for South Tucson families and neighborhoods. I commend Wells Fargo, NeighborWorks America, The Primavera Foundation, and the Neighborhood and Housing Service Department for helping make responsible homeownership possible for more families.”

“Like many cities, Tucson and South Tucson were significantly affected by the housing crisis,” said John Gibson, Wells Fargo’s Greater Southern Arizona area president. “While mortgages are available at relatively low-interest rates, many families are unable to buy a home because they struggle with making the down payment. The NeighborhoodLIFT program can help local mortgage-ready homebuyers realize their dreams of owning a home.”

To receive the full grant amount, participants buying homes with LIFT program down payment assistance grants must commit to live in the home for five years and qualify for a first mortgage on the property. The down payment assistance grants may also be used to buy a home that needs improvements with a new mortgage purchase 203k renovation loan.

In addition to providing down payment assistance for homebuyers, Wells Fargo will donate $500,000 to support stabilization efforts in Tucson neighborhoods.

Prospective homebuyers can register and learn more about the program at http://www.neighborhoodlift.com or by calling (866) 858-2151. Pre-registration is strongly recommended for an opportunity to reserve a $15,000 down payment assistance grant, although walk-ins will be welcome while funds are available. The event also includes a Wells Fargo Affordable Home Tour® viewing center where attendees can preview local homes available for sale.

“This innovative collaboration between NeighborWorks America, our network member The Primavera Foundation, and Wells Fargo will put more Tucson and South Tucson families and individuals on the path to homeownership,” said Gary Wolfe, regional vice president, Rocky Mountain Region of NeighborWorks America. “The required housing counseling and education classes, provided by certified professionals, have been shown to help homebuyers achieve successful and sustainable homeownership.”

Tucson NeighborhoodLIFT® program down payment assistance grants may also be combined with other down payment assistance programs to provide additional financial benefit to qualified buyers. Information regarding these other programs will be available at the September 5-6 event.

Participating homebuyers can obtain mortgage financing from any qualified lender and The Primavera Foundation will determine eligibility and administer the down payment assistance grants. Approved homebuyers will have up to 60 days to finalize a contract to purchase a home in Tucson or South Tucson to receive a grant.

“The Primavera Foundation is excited to help families qualify for the Wells Fargo NeighborhoodLIFT program down payment assistance grants,” said Peggy Hutchison, CEO of The Primavera Foundation “These funds support individual families to become homeowners, and by supporting families they also support our larger community. It’s an ideal time for families to invest in homeownership. To be first in line to access the down payment grants, families can register and start working with The Primavera Foundation HomeOwnership staff.”

Tucson is the sixth city in 2014 to receive the NeighborhoodLIFT® program, and is now one of 28 housing markets across the country that will benefit from a total of $210 million Wells Fargo has committed through its LIFT programs. The NeighborhoodLIFT® program was introduced in Phoenix in 2012 and has created 374 homeowners. Since February 2012, LIFT programs have helped create 7,375 homeowners in the 27 communities where the programs have been introduced.

The NeighborhoodLIFT® program is a collaboration between Wells Fargo, the nonprofit NeighborWorks America and local non-profit organizations. The NeighborhoodLIFT program is designed to provide sustainable homeownership initiatives in cities affected by the housing crisis.

The Primavera Foundation is a chartered member of NeighborWorks America, a national organization that creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities. NeighborWorks America supports a network of more than 235 nonprofits, located in every state, the District of Columbia and Puerto Rico. Visit http://www.primavera.org or http://www.nw.org to learn more.

In Arizona, Wells Fargo has 15,000 team members and 259 banking stores. Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.6 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

Have no idea where to start when buying a home in the Tucson, or South Tucson area? Dont be afraid to ask me questions.

I can answer questions related to the home buying process, and give you an idea on what to expect, and where to start.

Is your credit bad? It may not be as bad as you think, I have partners that can help you improve your credit score so you can qualify for your home purchase in Tucson Arizona. Send me a message to find out more.

Wells Fargo NeighborhoodLIFT program brings $5.5 million to boost homeownership in Tucson and South Tucson

Questions To ask your home inspector in Tucson Arizona

BrandonL Uncategorized

Questions To ask your home inspector in Tucson Arizona

When you buy a Tucson, Arizona home, you need to know exactly what you’re buying. Imagine how frustrated you’d be to find out that the hot water heater wasn’t working—in the middle of a shower! This is why you should have a home inspection before you buy your home. A home inspection is an important part of buying your home. Before you hire a home inspector, ask candidates a few questions to make sure you hire a trustworthy inspector.

What does your inspection cover? Not all inspections are the same. Ask for copies of previous home inspections so you can see exactly what they will check inside the Tucson home. If you are concerned about something specific, like a leaky faucet in the bathroom, mention that to the inspector so they can check it out.

Are you licensed or certified? If you live in a state that licenses home inspectors, ask to see their license. At the very least, choose a home inspector who belongs to American Society of Home Inspectors. This shows a level of professionalism and education that you can trust.

What kind of report will you give me? You should expect a written report detailing what the inspector found. Most inspectors will give you a typed report within a week of the inspection. Make sure the inspector will be available to explain anything on the report that doesn’t make sense to you.

Will I be able to attend the inspection? If the inspector refuses to let you be present during the home inspection, find someone else. This is your chance to know exactly what you are buying and what potential repairs you or the seller will have to make.

I will guide you through the home buying process. Let me help you find your new Tucson, AZ home. Email me at brandonlukerealestate@gmail.com.

LINKS:

Home inspection – http://en.wikipedia.org/wiki/Home_inspection

American Society of Home Inspectors. – http://www.ashi.org/

Easy household repairs. – http://home.howstuffworks.com/home-improvement/repair/5-home-repairs-you-should-do-yourself.htm

Find out more about me at:

http://www.allbrandonluke.com

Tips for getting a mortgage approved in Tucson Arizona

BrandonL Uncategorized

Are you considering buying a Tucson Arizona property as a second home or investment? Perhaps you are looking for a small cottage or apartment where you can escape for vacation, or maybe you want to have another home closer to family. Maybe you want to rent out your second property and make a steady income from your investment. Whatever the reason, a second piece of real estate can be a fantastic investment. However, sometimes getting a mortgage on your second home can be a challenge.

Generally, a mortgage lender will have tougher standards for second home loans than primary home loans. This is because usually when you are buying a second home your finances will be stretched thinner and you will have less money to spare because you are already paying a mortgage on your primary home. This will mean that your second home mortgage can be harder to get and might have a higher interest rate.

Here are some tips to keep in mind that will help you to get the best mortgage on your second property: Build up a decent amount of savings. Your mortgage lender will want to be able to see that you have a large amount of savings so that you will have enough to pay for the mortgage even if you were to lose your job.

Pay off any credit card debt. Many lenders will be hesitant to approve your second home mortgage if they see that you have a lot of debt on your credit card. They will want to see that you have a low debt to income ratio so that you will be able to pay back the loan.

Use the first mortgage as a good reference. If you have always made your payments on time and you are most of the way through paying off your first house, you could ask someone from your current mortgage company to vouch for you. The lender for your second mortgage will be reassured that you are a reliable person to loan money to.

These are just a few tips to keep in mind in order to make getting a mortgage for your second property as easy as possible. To find out more about investing in a Tucson Arizona property, contact me at brandonlukerealestate@gmail.com  Keyword: Tucson Property

Find out more about me at:

http://www.allbrandonluke.com

Follow up to: How to Build Business Credit in 6 Easy Steps

BrandonL Uncategorized

Follow up to: How to Build Business Credit in 6 Easy Steps

On November 28th 2014 I wrote a post titled “How to build business credit in 6 easy steps” Now keep in mind, easy does not mean you can sit on the couch watching the latest episode of supernatural, and expect the banks to be knocking at your door, but in an effort to help out fellow investors I compiled a list of institutions that are offering secured credit cards to help build your credit.

Also keep in mind, there are multiple ways to build business credit, I just shared what worked for myself. If a bank does not offer a secured credit card, ask them what they do offer to help a new business establish credit, they may offer other products such as a secured loan, or other product that would take the place of a credit card. I suggest 3 different products reporting to the business bureaus, but one may do the trick, it just may take a little longer.

If you don’t want to establish business credit, you can also use the steps I outlined on your personal credit, the higher your score the better.

Wells Fargo Secured business credit card:

https://www.wellsfargo.com/biz/creditcards/secured/

BBVA Compass Secured business credit card:

http://www.bbvacompass.com/business/lending/credit-card/business-secured-card.jsp

Metro Credit Union:

http://www.metrocu.org/home/business/bus_credit_card

 

These are three options to get you started if you want to pursue a business credit card, but I would suggest acting as quickly as possible, since I established my business credit, two major banks have stopped offering secured credit cards, those are U.S. Bank, and Bank of America, but I placed calls to branches close to me, and they still offer secured business loans, but I was also told that it depends on the area, and the best option is to call your local branches and ask questions.

If you have a good enough credit score, you can also apply for a business credit card under your own name, get approved, and then add your DnB number to the account so that it will report to the business bureaus. I am curious if the same can be done for a secured personal credit card, I guess I will add that to the list of questions to ask next time I travel to the bank.

I hope this inspires someone looking to establish business credit to take action; Hope everyone has a great day, and be sure to check out my other blog posts, and share your ideas with me.

Also if you have established business credit for yourself, I would love to hear how you did it in the comments. Thanks

Check out my MUST HAVE real estate reading list for beginners at

www.allbrandonluke.com under the “My personal recommendations” tab

#1 SECRET every rookie real estate investor MUST apply to their daily habits to ensure long term success

BrandonL Uncategorized

As I browse the biggerpockets forum area looking for questions that I can answer at my skill level, I am amazed at all the new members who get on with a “deal” already in their sights, but have no money, no credit, no long term goals, no team, nothing in place to support  long term real estate investment activities. Yea, some have good credit, or a wad of cash in the bank…but what they don’t realize is they are not going to get rich off one purchase. ONE WRONG PURCHASE CAN SINK YOU.

The secret I refer to in my title is PATIENCE. Ambition is always admirable, but going crazy over the foreclosure down the street, without credit, a little cash, knowledge, relationships, and an exit strategy, is just unwise.

THERE WILL ALWAYS BE ANOTHER PROPERTY!!

A lot of us on biggerpockets are not going to be buying 100 properties in a year; it will be a paced, steady climb to financial freedom.

TAKE THE TIME TO BUILD SOME RELATIONSHIPS WITH SOME LOCAL PROPERTY MANAGERS, AND REALTORS.

TAKE THE TIME TO BOOST YOUR CREDIT SCORE- AN INTEREST RATE CAN DETERMINE IF A PROPERTY CASH FLOWS OR NOT- THE HIGHER YOUR CREDIT SCORE THE LOWER THE INTEREST RATE.

READ A FEW BOOKS THAT WILL GIVE YOU BASIC KNOWLEDGE OF REAL ESTATE PURCHASE TRANSACTIONS, LEASES, BUSINESS ENTITIES, AND OTHER RELEVANT INFORMATION.

All these suggestions can be accomplished in as little as 6 months. So why are we all in such a rush to purchase that foreclosure the guy at the bar told us about?

Don’t make decisions on what you think the property is going to be worth in a few years, that value may never come. Base a purchase decision on the NUMBERS RIGHT NOW. Too many get dollar signs in their eyes by thinking about how this 80k short sale COULD be worth 500k in just a few short years. Don’t be that guy or girl.

I made these mistakes as well, but I was lucky that I was not ruined by my first purchase. I hope some new people will see this post, and take the advice of someone who remains excited to purchase to this day, but makes it a point to take emotion out of the equation. I am not looking to get rich quick; I plan on acquiring my property over a number of years, and one emotional purchase could set my credit, reputation, cash flow, and a mountain of other things back a number of years.

Practice patience in your everyday tasks, and it will automatically carry over into your real estate activities. Hope everyone is having a great week.

If you have any stories about purchases you made on an impulse tell me about them in the comments, everyone can learn from a good story.

How to build business credit in 6 easy steps

BrandonL Uncategorized

How to build business credit in 6 easy steps

A few days ago I had the opportunity to talk to an amazing young lady who is only 19 years old, and is passionate about gaining knowledge about real estate investing. One of the things we talked about is credit building. Since she is very young, I suggested that her priority should be to set up a good credit building strategy over 12 to 24 months, as I feel this should be the foundation of any long term real estate acquisition endeavor. In this post I am going to cover the very basics of building business credit for those that have never had any dealings with the process. There is no single “right way” to do this, but this is the method that has worked for me, and friends I have suggested it to. Improving your personal credit score should be part of your credit strategy as well, and this method can also be applied to the personal side.

STEP 1: FORM A LEGAL BUSINESS ENTITY

My credit strategy includes the formation of a business entity; you can choose the best one that suits your needs. If you are unfamiliar with the different types of business entities, there is a mountain of good books that will adequately explain the types, and differences between them. I will include a link to my favorite at the end of this post. A legal business entity is like another person, with their very own credit profile that you control. What isn’t great about that!?

STEP 2: OBTAIN AN EMPLOYMENT IDENTIFICATION NUMBER (EIN) FROM THE IRS

This step is easier than it sounds; simply go to this page http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Apply-for-an-Employer-Identification-Number-(EIN)-Online and follow the directions. Within a short time you will have your EIN number. (No you do not need employees)

STEP 3: OPEN A BUSINESS BANK ACCOUNT

Take your articles of organization, and poof if your EIN number and head to the bank that suits your needs, and tell them you would like to set up a business bank account. Within an hour your business will have a brand spanking new bank account. Don’t forget that most accounts require a minimum deposit.

STEP 4: APPLY FOR AT LEAST 3 SECURED BUSINESS CREDIT CARDS THAT REPORT PAYMENT ACTIVITY TO BUSINESS CREDIT AGENCIES

Most business secured credit cards with banks require a minimum deposit of at least 500 dollars, pass on that new iphone, or ipad,and invest in your business. You can have multiple business entities “sitting on the shelf” building longevity, and credit history. These unsecured cards might have small credit limits now, but they will be the building blocks to thousands of dollars in unsecured credit in the future if managed responsibly. You do not have to get all 3 at one time, but make a reasonable effort to open them as fast as money allows.

STEP 5: UTILIZE ONLY 30 PERCENT OF YOUR AVAILABLE CREDIT AND MAKE PAYMENTS ON TIME!!!!!!

This is the most crucial step in the process; you must make your payments on time, even if you have no food in the refrigerator, MAKE THE CREDIT CARD PAYMENT, if you have no gas in the tank, MAKE THE CREDIT CARD PAYMENT. I can’t repeat it enough.

STEP 6: SIT BACK AND WAIT

Figuratively of course, this is a strategy based on time. The credit offers will not start rolling in overnight. Be patient; allocate time to other parts of your overall real estate strategy, keep making progress in other areas, and in time you will have that unsecured 100k credit line, but don’t tell the girl or guy you met on match.com that your card has 100k limit, but alas, that is a mistake to be written about another time.  After a short period of time of making responsible payments, most banks will convert your secured card to an unsecured card, and you will get your deposit back, plus the interest it has earned. Usually this is when the unsecured lines of credit offers will start clogging your mail box.

Your level of discipline, determination, and your ability to sacrifice for the promise of future rewards will determine how successful you become with these steps. Good luck in your credit and real estate endeavors. Check out my profile to find out more about me.

BL

A good book to learn about different types of business entities:

http://www.amazon.com/Start-Your-Own-Corporation-Companies/dp/1937832007

Secured Business Credit Card: A Line of credit extended to your business secured by a deposit of cash to the bank.

Unsecured Business Credit Card: A line of credit extended to your business based on your credit history, no deposit is required.

Employment Identification Number: A number used by the IRS to track your business

If there are any other terms you are unsure of be sure to contact me, and I will gladly explain

Do I Need a Real Estate Investment Team? What do I Look For?

BrandonL Uncategorized

So you just finished your first real estate investment book, and now you are ready to take on the world, make million dollar deals, and rub shoulders with the likes of Donald Trump. These are exactly the thoughts I had way back when I succumbed to the late night Carleton Sheets infomercial. It’s been so long ago, and I don’t remember any chapters on teambuilding. You can correct me if I’m wrong.

Now all these years later I realize that I cannot do everything alone, and that success comes faster with a team. Since every investor has different goals, not every team is going to be the same. So, to that end, this is just a narrative of the team members that I feel are important at the point I am at, in my quest for financial freedom through real estate investing.

  • 1.)ACCOUNTANT – When most people think of an accountant, they think of the local tax preparation office, you come in, sit down, hand them your W-2, they click away at their keyboard for a few minutes…Ok, and you’re getting back 800 dollars this year….NEXT PERSON IN LINE PLEASE! …… In the future run away from these places as fast as you can. Research reputable local accountants. Write down some questions, and call them up and ask them. Find out if this person meets your criteria, if not run away. A legitimate tax professional can save you thousands of dollars in a single year, by setting up a tax strategy that fits your personal goals, and financial situation. The number one thing I look for in a tax professional is whether or not they are a former IRS agent. My current accountant is a former IRS agent, and this guy is worth his weight in gold. He seems to know every in and out of the US tax code far better than anyone I have ever met in my life, he has worked on both sides of the table, and for a couple packs of black and mild cigars, and some paper for his printer (I bring a new ream of paper for his printer when I come over, because in the beginning he would always run out when I was in his office) he has no problem letting me hang out to pick his brain for hours about tax code, or anything else for that matter. He loves talking about taxes, so I am always ready to listen. He is a little quirky, and he works out of his house, has trouble being on time, and his girlfriend is always offering me something on a plate she calls food, which I happily eat, so that I do not offend, but his knowledge far outweighs any quirks, so do not be quick to judge someone based on whatever negative attributes they may have.
  • 2.)REAL ESTATE AGENT- Do not settle for someone just looking for a payday. If a realtor takes you around, shows you a few houses then put on the pressure to make a choice. To me this shows that they do not want to spend the time with you, and are just looking for a quick payday. The most important thing I look for in a realtor is. Do they make their living selling real estate? And for how long? Do not be afraid to ask them. This single thing separates the men from the boys. A guy that puts food on the table selling real estate for over 10 years is going to have more knowledge, and will help you avoid potential costly mistakes.
  • 3.)CREDIT REPAIR PROFESSIONAL- Lets be real, a lot of new investors do not have the best credit, and almost everyone can use some improvement, and some knowledge on the credit industry. Knowledge is power, and knowing how your credit score works is great. What I have come to look for in a credit repair professional is: Only pay for what is deleted! In my opinion this is what makes a company more legitimate in my eyes, a lot of the scams out there will try to sign you up for monthly payments, or collect a huge upfront fee. DON’T DO IT, find a company that only charge for deletions, and doesn’t mind answering any questions you may have. Set up a credit strategy that will keep you score as high as possible.
  • 4.)LAWYER- This is a position I am in the process of scouting, but I utilize a pre-paid legal service which costs around 20 dollars per month, All the lawyers I had contact with to date have answered all my questions adequately, on a broad range of subjects, the service is not just limited to real estate, and reviewed all my documents submitted, in a timely manner, and provided valuable legal feedback. So this is low cost option for a real estate beginner.
  • 5.)PROPERTY MANAGER- If you have always dreamed of a life of fixing toilets, and changing light bulbs, then leave this professional off your list. If you are like me, and prefer a stress free life, bite the bullet, pay the percentage. You can thank me later. When faced with an inevitable eviction of a tenant, to get the job accomplished, I said four words; “give them their notice” I hung up the phone, and enjoyed a cold beverage, and some BBQ. In 3 weeks I had a new tenant in place, just in time to pay the next month’s rent. All thanks to a competent property manager.

So at the point I am at in my real estate journey this list sums it up for me. If you have these 5 professionals working for your best interest, you will have an edge when you finally take action to purchase that first rental property. Feel free to ask any questions, as I will share my knowledge with anyone who wants to learn…and sometimes even when you don’t 🙂 Let me know some of the professionals you find valuable in the comments!