Real Estate Principles Book
Do you guys recommend reading a book on this? Its a text book that is used to teach and prepare students for the re agent state exam. Its also a text book that is used in the community colleges for Real Estate courses. I dont know the latest edition but thought it might be good to read.
Im only interested in the investing part of Real Estate but thought a book like this would be a good source to read about the basics/foundation in Real Estate.
Thoughts?
I just got back from my local bookstore and Im definitely going to buy it. I skimmed through one and it had a lot of good info. Now I just need to find it used since its not a cheap read lol[ Edited by SoCal_Investor on Date 12/13/2008 ]
what will you offer for my (slight used) version.. LOL!
You have one? The one Im intreasted in is called California Real Estate Principles by by Dennis J. McKenzie 8th Edition
I believe its the latest one.
I really dont need the latest, but figured it would be good to read the from the most current version
I have always preferred a cash out refi as interest rates are fixed. However, lending guidelines lately seem to restrict you to 75% of appraisal on NOO cash out refis.
HELOCs can go a bit higher, and as you say have no closing costs- a huge advantage for short terms. Not sure why you think they are impossible to get. Both products seem readily available to anyone with a good DTI and FICO above 680.
I have found the appraisal and ease of financing to be equal in both cases.
Chris
HELOC/LOC loans are region-specific right now. Calif. is out of luck, but in other regions they are still available. I have six of them on six different properties (including, he says while smiling, one on a house I sold three years ago that is still in play!), including two I got this year. None have been pulled or frozen...yet. But from what I can tell, a LOC will hit your credit scores worse than a mortgage (reported like a credit card), esp. if you have it 50% or more in play.
Sorry, just looked again and that cash out refi was actually sold to Citimortgage...
Chris
The trick is having your PITI be less than 75% of your rental income. Then the property is seen as contributing to your income rather than reducing it.
Chris