Attorney William - Articles

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Using a Home Equity Line of Credit to Buy Properties
A home equity line of credit (“HELOC”) can be an excellent financing tool, if it is used properly. A HELOC is basically a credit card secured by a mortgage or deed of trust on your property. You only pay interest on the amounts you borrow on the HELOC. If you don’t use the line of credit, you don’t have any monthly payments to make. You can access the HELOC by writing checks provided by the lender. In most cases, it will be a second lien on your property. Read
By: Attorney William | 29/11/2007 | Real Estate
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Equity Sharing Arrangements
If you are low on cash or have cash and are low on time, a partnership or equity–sharing arrangement may be for you. Using partners to finance real estate transaction is the classic form of using “OPM” (other people’s money). Experienced investors are always willing to put up money to be a partner in a profitable real estate transaction. As with many businesses, talent is more important than cash; if you can find a good real estate deal, the money will find its way to you! Read
By: Attorney William | 23/11/2007 | Real Estate
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Real Estate Investing is Just Like Weight Loss
It amazes me how many people get started in real estate investing, only to fail when the going gets tough. As soon as someone discovers they can’t get rich in a week or two, they are on to the next “hidden guru” secret. It’s the same as weight loss - everyone talks about it, many try it, but few succeed. There are thousands of “get rich quick” and “get slim quick” gimmicks. No wonder both the real estate investing information and weight loss products industries make BILLIONS! Read
By: Attorney William | 23/11/2007 | Real Estate
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Personal Property Trusts
If you have been reading my articles, you are probably familiar with the concept of creating and using land trusts for privacy and protection of your real estate. However, what about your ownership of notes, mortgages, deeds of trust, leases and options that may appear on public record? What about cars, boats, mobile homes and other items that are registered and recorded in public places? Good news... there is a special trust just for that purpose! Read
By: Attorney William | 22/11/2007 | Real Estate
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Are Real Estate Seminars Worth the Money
If you read the news media, you’ll see that there’s a proliferation of new real estate gurus and seminars coming around to feed the endless demand for real estate these days. One event recently attracted over 30,000 people, with Donald Trump as the headliner (like he knows anything about buying a duplex, so, how do you tell the good from the bad? Well, first let me comment that I believe there is very little truly “bad” info out there. The difference is mainly price and quality of information. Read
By: Attorney William | 16/11/2007 | Real Estate
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Big Brother is Watching You! New Bad Legislation Coming your Way
Well, it seems that with everything you do right, there’s always someone else doing it wrong, do it badly, or doing it illegally. Enter Big Brother... the “well–intentioned” legislator who wants to get re–elected by passing a law that protects the innocent from bad people or from their own stupidity. Read
By: Attorney William | 16/11/2007 | Real Estate
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A Review of the Carleton Sheets No Down Payment Course
You can buy real estate with no down payment!” You’ve seen the infomercial a hundred times on television over the years. Me too, so I decided to pick up a copy of the Carleton Sheets “No Down Payment” program just to see what my competition offers. Read
By: Attorney William | 16/11/2007 | Real Estate
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Sixty Days to your First Bargain Purchase
Finding good real estate deals is an art that takes time to master. Like any business, customers are what drive it. Your primary customer is the seller who is motivated to sell below market value. Finding motivated sellers requires advertising, marketing, salesmanship, and, like any business, keeping your nose to the ground.Nothing happens and nothing matters in real estate until you find a deal. Read
By: Attorney William | 16/11/2007 | Real Estate
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What to Do if a Tenant Abandons the Property
Have you ever had a tenant leave in the middle of the night or the middle of an eviction? Did you ever wonder what to do? Basically when a tenant abandons the property, you do not need to file an eviction or wait for the sheriff. You can change the locks. As for the tenant's stuff, in most states you can simply toss it. You should check your state or local law to see what your legal obligation is to store the items for the tenant. Read
By: Attorney William | 07/11/2007 | Real Estate
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Should you Use an Attorney’s Fee Clause
Most “standard” real estate contracts and leases contain provisions that state something to the effect, “If there is any dispute as to the agreement, the winning party is entitled to attorney’s fees.” Is this a good idea? Well, yes and no. First, understand that attorney’s fees are generally not awarded by the court to the winning party in a lawsuit. Read
By: Attorney William | 07/11/2007 | Real Estate