Check my Harp 2.0 Eligibility in 90 seconds

Low Harp mortgage rates for Investment Condo HARP Refinances are helping investors improve cash flow and buy more property. I am pleased to have Chris Brown provide this feature post.

Chris Brown Mortgage Review

Ryan and Ashley are your next-door-neighbor kinda folks in Brevard County, FL. In addition to their home, they own an investment condo that is under water. They have understood for some time that buying Cape Canaveral investment real estate is where the smart money is going, even now, and even though their first experience created negative equity. Couple the cheap Brevard Real Estate prices of today with the unsustainably low mortgage interest rates and you result in some of the best Brevard County, FL real estate opportunities in our life time. While Ryan and Ashley were looking to add to their real estate portfolio, they began to wonder what they could do with the property they already had… there had to be a way to help improve the cash flow without needing to do a Cape Canaveral Short Sale. If there wasn't they were open to the short sale, but really wanted to keep their investment property. Fast forward to today. In addition to helping Ryan and Ashley structure a new investment property purchase, we uncovered that it made sound financial sense to refinance of the upside down investment condo in Florida they already have through a Cape Canaveral Harp 2 Refinance. How HARP and The Chris Brown Team's mortgage planning benefited Ryan and Ashley Loan Before HARP: Balance: $340,000 Interest Rate: 6.25% Interest ONLY Payment: $1770.83 New HARP Loan: Balance: $346,700 Interest Rate: 4.000% P+I Payment: $1655.20

$105.63 lower Harp payment AND $499.53 now going to principle!

That is a combined benefit of $605.16 beginning in the first month of the Harp 2.0 Success Story, increasing every month after that since each month a little bit more is going to principle. Can $105.63 = $605.16? Yes, it just did. Who do you care about that may also benefit from improving their position $605.16 every month just like Ryan and Ashley? You may choose to share this with them on your Facebook page with the share links above. Check my Harp 2.0 Eligibility in 90 seconds Certified Mortgage Planners and Chris Brown are nationally recognized HARP Experts for the Florida HARP Loan Refinance Program.

Have questions contct Chris Brown Direct 407.367.2974 / Chris@cmpfl.com

What Happens to Deficiency in a Short Sale

Over the past few years many of our owners at Showcase Property Management have been confronted with selling their property in a short sale. One of the biggest concerns is always the deficiency that results from a short sale. I found this very informative video that reviews various short sale scenarios which addresses deficiency with an investment property.

Walking away from a property and foreclosing is very damaging, a short sale is much easier to recover from, typically about two years. Lenders now prefer to avoid foreclosing and short sales  are now surpassing foreclosures.

If you are an owner struggling with an over whelming mortgage, I invite you to reach out to me for mortgage relief. Learn what’s entailed with selling property short.

5 things to Know About Investor Financing for Real Estate

Feature post by Tim Horr, Thomas Louis Mortgage

As a mortgage broker I come across people who eager to invest in properties and take advantage of the current real estate values. With mortgage interest rates currently at a 40 year low and home prices so reasonable. It makes sense to invest in real estate because it really is a great time to buy Brevard County investment properties.  It’s a no brainer if you plan to pay cash, but if you want to leverage and obtain financing there are parameters to follow. Here are the top 5 things you need to know before you move forward on financing an investment property.

  1. You will need a relatively high credit score 680 at a minimum. Investor financing is the most credit scrutinized of any loan.
  2. The optimum purchase is with 25% down. You can get in with just 20% down but  I highly recommend  25% down. Once you see the numbers you will agree.
  3. You will have to qualify with your current monthly debt and the new mortgage. The new mortgage debt will include principle, interest, taxes, insurance and any homeowners association fees.
  4. Avoid trying to secure financing for condominiums in Florida. Hopefully this trend will end in a few years. But currently condo’s are real hard to secure financing.
  5. Use a local mortgage professional like myself to help you with your financing. And most importantly , once you own the investment property I highly recommend you hire Karen Gunn Bardot and her team to manage your investment property.

I have been a licensed Mortgage Originator since 1997 and have helped many investors who were new to investing and those who are pros. I can say confidently, now is the time  to invest in real estate, the real estate opportunities are ideal to  expand and diversify your portfolio. . . and Brevard County is excellent choice.

Tim Horr  | Thomas Louis Mortgage | 321-698-0417 | tim.horr@gmail.com | TimHorr.com

Keep Green Grass with Your Investment Property

In the 15 years I have been providing landscape maintenance I’ve seen just about every problem that can arise when maintaining an investment property.

Here are the main issues I have encountered with neglected lawn maintainance:

· Irrigation system was turned off and the grass died

· Over grown trees damaged property and attracted pests and rodents

· Property owner fined by home owners association because of tenant neglect

· Infrequent, irregular mowing, which is the biggest culprit, ruined the lawn

Mowing the lawn is a very important part of proper yard care. There are a host of benefits that are associated with mowing the lawn that help maintain a property owner’s investment. Mowing the lawn serves a two-fold purpose. First, the cosmetic benefits can be noticed immediately and curb appeal always matters.

The other benefits that come with mowing the lawn on a regular basis may not be as immediately obvious, but they are even more important. Mowing the lawn helps keep your lawn healthy and eliminates pests from the grass at the same time. It also can ensure that various pieces of debris are picked up and are cleared every week; so that nothing really accumulates on the grass.

In a yard, resources are absorbed by the grass and used to grow. By slicing the growth down to a short and uniform level on a regular basis, all of the growth gets an equal distribution of resources. Due to this fact, mowing on a regular basis will allow the lawn to remain consistent in nature, because all of the resources that are gained from the sun and water are spread out evenly throughout the yard. Consistency is important to both health and appearance, so making sure that resources are evenly distributed is very important.

When the grass is cut, the hardiest and the healthiest shoots are the ones that do the best. With every cut, the best shoots will proliferate making the grass much more visible in nature overall. Even if a person is bagging when they are going through the process, some of the extra debris will be returned to the earth, the fallen shoots of grass help to fertilize the lawn. This plant matter composts quickly and revitalizes the soil underneath it. In this way, mowing helps to keep everything fresh and green!

Although we all want the perfect tenant, in reality you can’t leave your lawn maintenance to chance. It can cost between $2-5000 to replace just a front lawn. Therefore, it’s advantageous to hire a landscape contractor to help you maintain your properties value. Properties that are tended to on a regular basis have the grass mowed and the irrigation systems monitored. Issues are and problems can quickly be reported to your property manager.

I invite you to get a quote from Marlowe Landscaping, Inc, we promote quality service and lasting relationships. As I always say, “from the turf to the trees, we can help!”

Marlowe Landscaping, Inc.    Office: 321-455-1613     Cell: 321-302-8212  MarloweLawn.com

Why Vinyl Plank is the Best Choice for a Rental

feature post by Kevin Hotaling, Finest Floors of Brevard

When choosing a floor covering for an investment property, there are many factors to consider.  Typically the first concern is cost, followed by durability and then looks.  Usually, the least expensive option is carpet.  However, carpet generally does not stand up well to the rigors of a rental situation.  This means that the landlord usually has to replace the floor covering after every tenant.  This also means that the tenant may have to be more careful for fear of not getting their security deposit back.  This is where vinyl plank comes in.  Here are some of the features of vinyl plank:

1. PVC Construction

2.Durable Vinyl wear layer

3. Glue down installation

Benefits of vinyl plank include

1. Very water resistant

2. Has 10 yr-20 year warranty

3. Damaged plank easily replaced (floor will last longer)

4. Some have “nano silver technology” prohibits mold/mildew growth

5. Ease of maintenance

6. Peace of mind for owner and tenant

Choosing a vinyl plank as your next floor covering would be a wise decision. There would most certainly be a higher up front cost in choosing a vinyl plank (versus a carpet), but the benefits and durability of the plank would negate that cost.  The cost of floor covering for that unit over time would be reduced as the need to replace the existing floor covering would also be greatly reduced.  Overall, vinyl plank is a great choice for homes as well as rentals because of its durability, ease of maintenance and ease of repair.
Video has contact information for Finest Floors of Brevard.