Look What Is Cooking in the Lending Business!
 
Utility Bills May WILL Soon Become Part of the Loan Approval Process for Home Buyers! 
 
A great local successful investor, Eric George, is an expert in making homes energy efficient, forwarded this article to me yesterday. Eric shared this very interesting article because the wheels are in motion where the Energy Costs of a Home will be factored into underwriting and the loan approval process.
 
In today’s world, home heating, cooling, and energy costs are a huge part of a family budget. It is apparent, the lending institutions have done their homework and discovered energy efficient homes have a 32% lower default rate.
 
Having this information NOW, can help forecast your future business. By getting this heads up right now, you will be in a much better position as an investor.
  • What will happen to the market values of homes with high utility bills?
  • Will you have a different vision for your rehabs in the future?
  • What about selling your rentals to your tenants or others?
I am not an energy expert and odds are, you are not either.
Unlike Eric, we can only think about the simple things like replacement windows and insulation; but, there is a lot more to it.
 
Question: If I can get Eric to do it, would you be interested in attending a free webinar featuring Eric on these energy efficient home techniques?
 
If so, please click this email and write “Yes, I want a webinar with Eric”
here is the email “News@MikeButler.com
.
Here is the article Eric sent me yesterday
 
 


 
RESNET Calls for Reforms of Housing Market and Mortgage Financing
 
 
RESNET (Residential Energy Services Network) has released a policy proposal that calls for the labeling of a home’s energy performance and More…including the monthly energy savings when calculating home ownership costs in mortgage financing. The intent is to bring transparency to the housing market and introduce greater rationality into mortgage financing.
 
Car and home appliance manufacturers have long been providing consumers with information about the energy efficiency of their products through MPG (miles-per-gallon) stickers and Energy Guide labels. As a result, consumers are able to make better-informed buying decisions.
 
This, however, is not the case for homebuyers who for the most part are not aware of the energy performance of homes they are considering buying.
Making HERS Index scores a requirement for homes financed through federal mortgage programs like Fannie Mae, Freddie Mac, FHA and VA, would be a start in the right direction to addressing this problem.
 
Current federal mortgage underwriting practices fail to take energy savings into consideration when determining the value and affordability of energy efficient homes. However, a recent study showed that energy efficient homes have a 32% less mortgage default rate. Therefore, RESNET proposes the adoption of a new formula to calculate how to determine housing affordability – one that would account for energy savings:
 
Principal 
+ Interest 
+ Taxes 
+ Insurance 
– Monthly Energy Savings (PITI-ES)  
= TOTAL COST
 
The new formula would provide greater accuracy in determining housing affordability, and could make energy efficient  homes more accessible to consumers than they are now.
 
The combination of labeling of a home’s energy performance in federal backed mortgages and the new way of calculating housing affordability in the mortgage loan will help homebuyers better understand the true cost of owning a home and allow energy upgrades to be financed in the mortgage loan.
 
To download the new policy initiative click on RESNET Call for Reform
 
Residential Energy Services Network

Special Thanks to Eric for this very important update of upcoming trends affecting our real estate market.
 
P.S   There’s only 15 Cabins left for the Great Investor Cruise Jan 12-19, 2014 on board the FREEDOM of the SEAS, RCCL. Give Ty a call to reserve your cabin now!

AddToCartLLAP

Landlording On AutoPilot: A Simple, No-Brainer System for Higher Profits and Fewer Headaches

by Mike Butler

 

No author has had a greater impact on my landlording skills than Mike Butler and his book, Landlording on Auto-Pilot.

At the risk of sounding over-dramatic, the lessons I learned after reading it are the reason I spend as much time at home as I do – because Butler is all about creating systems to make the landlording process more automated … and they work.

There are so many tips in this book that I re-read it every year, just to be sure I’m not missing anything! Whether you are brand new to landlording or you have been renting homes out for decades – buy this book and read it… twice!”

BrandonTurner

Brandon Turner
Senior Editor
BiggerPockets.com

 Recommended For: Beginner, Intermediate, and Advanced Investors
Best Books on Landlording

received August 26, 2013
from Mike Gruver
 
Great work on putting together a screening process complete with forms.  Very simple and to the point, much appreciated.  I’m just beginning to implement your system, so I will post again to let you know how it goes. 
 
I believe the application does it’s own screening.  It’s interesting the call backs I don’t get once I ask them to submit the application and complete backgrounds…or the folks that want to work something out because they don’t have a credit history (or have bank accts, just as you mentioned in your book…fascinating). 
 

Thanks again.  The book has been a joy to read and implement to this point.

Mike Gruver

Question from Scott:

Could you please tell me how many people you expect to have aboard for your Freat Investor Cruise in January 2014? My wife and I are hoping to attend. Wife hasn’t sprung the news to grandparents about watching our son yet..

Here is Your NO HYPE or B.S. Answer Scott. I LOVE Royal Caribbean Cruise Ships “Freedom of the Seas” and newer.

Your 7 Day Seminar at Sea is a BLAST and you can make your Family Vacation an Education Expense for your business. (Mike Grinnan, my CPA says so)

Attendance: It would be great to have 100 or more investors; however, in the real world, it could be anywhere from 30 to 70.

You get 7 days to network with serious investors from all over the USA, Australia and more. These are serious investors, no wanna-be’s or tire-kickers, and everyone is very willing to share their strategies and techniques that worked or failed. YOU are not their competition in their own backyard.

Your 7 Day Seminar at Sea begins at Port Canaveral Florida and you will spend a day at  St. Thomas, home of Megan Bay, St. Maarten, and Cocoa-Cay.

Each “Day at Sea” is your full day Seminar at Sea in a real conference center, not in a bar or lounge.

Just imagine not only classroom sessions, but relaxing on the beach (in January) with one of those cool, refreshing, umbrella in your drink, discussing real estate with investors from all over the world.

Having breakfast, lunch, dinner with me and investors if you wish. It is okay to take a break and let your free room service take care of you on your private balcony overlooking the ocean with breezes, the salty ocean smell and the beautiful sunrises and sunsets.  You will NEVER get this in a hotel room

TIMING: January is PERFECT to “Sharpen Your Saw” and review your goals from last year along with tweaking and setting new goals for 2014.

I am getting riled up just writing this little note about it. Come on, you will enjoy it and you will get a lot of one on one time in this small intimate group of serious investors.

Although it seems like it is a long way off in the future, it is very important you get your fully refundable deposit in ASAP.

Cost:  from Only $995 pp includes manual, conference tickets, cocktail party and over $1,000 in real estate investor training material in addition to all of wonderful stuff already included cruising on Freedom of the Seas.

for your http://GreatInvestorCruise.com

Register Now BEFORE RCCL raises the prices.

Call Janis Baker at 1-800-800-7703 ext 113.

 

How to PROTECT Yourself from Obamacare New Bigger Fines and Penalties involving Payroll, even with just ONE Employee

registernowBlinkinghttp://AskMikeButler.com/payroll

40 minute Webinar with Question and Answer Session

PLUS Free Gifts Just for Attending

 

 

FREE Financial Calculator for your Cell Phone!

and How to Use It!

12 minute video shows you how to get the Free Financial Calculator

Do You Like This Kind of Training Video?

 

Mortgage Insurance Has Changed! 

I suspect those of you who are in the market for a mortgage are well aware of the new FHA mortgage insurance increase coming.  It’s only a quarter of a percent increase. ONLY?

Effective April 1, 2013, people who haven’t already gotten their FHA case numbers assigned will be subject to the new bigger and better mortgage insurance premium.  The increase will be between 10 and 15 basis points, depending on the loan.  This is all intended to make the FHA bigger and better – more secure. 

This is a Silent Tax. 

On the average, mortgage folks are looking at an increase of $30 to $40 per month.  This will make qualification more difficult for everyone.

The FHA has a number of other changes coming to a loan office near you.  They are all silent taxes on home owners.  The corker is the inability to drop mortgage insurance after you have paid the balance down to 78%.  In the good old days you could drop the mortgage insurance after you had paid down to the 78% of loan to value ratio.  Starting in June 3, 2012, mortgage insurance will be locked in FOREVER on most loans.

Mortgage insurance adds, let’s say, $175 per month to the monthly payment.  With the increase it will be over $200.  If you assume you will pay down to 78% of the principal in the first ten years, then you have twenty years left on your mortgage.  Whereas you could have dropped the mortgage insurance after the ten year period under the old policies, you now have to continue to pay it for the next twenty years.  That’s only about $42,000 more you will have to pay.  That’s a tax levied by the new Obama laws, plain and simple.  You are paying for all the screw-ups the government and banks have made and continue to make with affordable housing. 

If you are buying, do it now!

from GOLD Member Rod Owens

FREE 30 Minute LIVE Training Webinar!

Limit 200 Seats for each Webinar

Secret Tool of The SUPER WEALTHY

 “How To HIDE Ownership of Your Vehicle in 5 minutes!”

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Good evening!  while watching this Louisville vs. Notre Dame basketball
overtime bonanza. 5th Overtime… wow   and i checked my email real quick and got this…

I was skeptical at first, but this is absolutely true. One of my friends sent me this link to Adobe and I just downloaded a boatload of Adobe Products without paying one red cent.

Plus I got the product key codes, (serial numbers) for each software

Here is the Link, click on it now. It is an Adobe webpage
—————————————————————————————-
http://www.adobe.com/downloads/cs2_downloads/index.html <– Click Here
   (copy and paste in browser)
—————————————————————————————

Now I’ll be 100% transparent and say this…

I’m not sure if they (Adobe) meant for everyone to be able to download these products from their page, or just SOME people (like people who already bought a copy)…

.. but the page IS still up, and I’m sure 1,000’s of people are visiting that page every week and downloading their CS2 versions.

Adobe MIGHT be doing this to fight all the pirated copies of Photoshop on the market… it might be their way to introduce more people to Photoshop via an older but legal version (CS2)… and perhaps these people will later upgrade to CS5 or CS6.

I can’t say for sure if that page is for everyone or not, but that page IS still up at this link:

http://www.adobe.com/downloads/cs2_downloads/index.html

You might want to look into this yourself a little more… I’m just passing on the news I heard since so many people on my list don’t have Photoshop or these other programs.

Yes, these are older versions, but they still do about 90% of the newer versions.

Forward this to your friends while the getting is good.

Mike Butler

UPDATE Provided by GOLD Member Andrew Teustch (Chicago)

“Adobe has disabled the activation server for CS2 products, including
Acrobat 7, because of a technical issue. These products were released
more than seven years ago, do not run on many modern operating
systems, and are no longer supported.

Adobe strongly advises against running unsupported and outdated
software. The serial numbers below should only be used by customers
who legitimately purchased CS2 or Acrobat 7 and need to maintain their
current use of these products”

eTN andrew

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