Among people trying to collect compensation from BP for income loss caused by the oil spill are real estate practitioners.
Four states—Louisiana, Alabama, Mississippi and Florida—have opened claim centers where residents who lost income due to the spill can request compensation.
Only Florida is reporting its numbers. Over the last three weeks, BP has paid $75,725 to begin settling 446 claims against it for income lost from rental properties. It paid another $5,000 to begin settling losses due to stalled real estate sales.
BP CEO Tony Hayward said in a TV commercial, “We will honor all legitimate claims, and our clean-up efforts will not come at any cost to taxpayers.”
Showing posts with label greg moses. Show all posts
Showing posts with label greg moses. Show all posts
Saturday, June 5, 2010
Saturday, May 22, 2010
How Large Is Your Future?
Thus the heavens and the earth were completed in all their vast array. Genesis 2:1
Dear to live your dreams! For the way you view your future will directly affect your right-now actions. You cannot look at your tomorrow through dismal eyes of despair. In your mind, you must get a future that is so large that today seems very small. Your future has got to be so large that your situation today becomes insignificant. Whatever you are going through today is not even a worry, and should not matter, because your future is much larger than your today. When you properly view your future, you really won’t have time to weep over your present circumstances.
God sees your future as big and bright
You’ll be surprised to learn that the problem is that your future is not in God’s hands. It is in your hands. So how you see your future must be in alignment with how God sees it in order for you to have a successful future. Many people sabotage their own futures because they begin to choke, trying to accept that fact that their tomorrow is greater than their yesterday. Your future is only as large as you see it.
What is large to you may not necessarily appear to be large to the next person. So then, you have to create your own future by reassessing your visual awareness. Remember you will only have in life what you can see yourself having, nothing more and nothing less. You may not be an artist, but consider yourself Leonardo DaVinci. Actually draw a picture of “your big future.” Be sure to include everything that you can think of, that typifies the kind of life that you know you deserve to live.
For I know the thoughts that I think toward you, saith the LOR D,thoughts of peace, and not of evil, to give you an expected end. Jeremiah 29:11
Here’s how it works. Whatever we hope for mentally, we must begin to see it with our mind’s eye and see all possibilities that are connected with it. Nothing becomes substantial until you see it mentally, with possibilities. Faith resides in the unseen realm. Our faith results in the manifestation of our thoughts, our dreams, our hopes and our desires.
Faith resides in the unseen realm
Baltimore
Native blue crabs seasoned with Old Bay are reason enough to visit Baltimore, but there's much more to experience in this waterfront town. Take, for example, this underrated city's revitalized Inner Harbor area, where you'll find where you’ll find Kimpton’s new Hotel Monaco (opened in July 2009); the upscale neighborhood of Mount Vernon, home to the nation's first large-scale Washington Monument and the 29-room boutique Hotel Brexton (opened in March 2010); and Harbor East, where a number of hotels and restaurants are opening their doors. Its new, contemporary look aside, you can still discover some 300 years of American history along Baltimore's cobblestone streets (not only was the "Star Spangled Banner" written here, but abolitionist Frederick Douglass lived and worked in the historic waterfront community of Fells Point in the 1830s) and track down the settings for John Waters's films (Hairspray, Pink Flamingos, and Female Trouble, among many others, were all shot here). Sports fans will also find no shortage of outlets, since Baltimore is also home to the Orioles baseball team, Ravens football team, and the Preakness (the second leg of the Triple Crown).
Friday, April 30, 2010
A first-of-a-kind prostate cancer treatment
WASHINGTON - A first-of-a-kind prostate cancer treatment that uses the body's immune system to fight the disease received federal approval Thursday, offering an important alternative to more taxing treatments like chemotherapy.
Did you find this helpful?
Doctors examine the results of a patient's Positron Emission Tomography (PET) scan to look for cancer cells. US regulators have approved a ground-breaking treatment for advanced prostate cancer that uses a patient's own immune system to fight the disease, officials said Thursday.(AFP/Getty Images/File/Win Mcnamee)Dendreon Corp.'s Provenge vaccine trains the immune system to fight tumors. It's called a "vaccine" even though it treats disease rather than prevents it.
Doctors have been trying to develop such a therapy for decades, and Provenge is the first to win approval from the Food and Drug Administration.
"The big news here is that this is the first immunotherapy to win approval, and I suspect within five to ten years immunotherapies will be a big part of cancer therapy in general," said Dr. Phil Kantoff, an oncologist at the Dana-Farber Cancer Institute who helped run the studies of Provenge.
Experimental vaccines to treat other cancers — including the deadly skin disease melanoma and an often fatal childhood tumor called neuroblastoma — are already in late-stage development.
Currently doctors treat cancer by surgically removing tumors, attacking them with chemotherapy drugs or blasting them with radiation. Provenge offers an important fourth approach by directing the body's natural defense mechanismsagainst the disease.
The treatment is intended for prostate cancer that has spread elsewhere in the body and is not responding to hormone therapy.
Medical specialists hailed the approval as an important milestone, but stressed it will serve as an addition to current medical practice, not a replacement.
"This is just one step in a new pathway for treating patients," said Dr. Simon Hall, chairman of urology at Mt. Sinai Hospital. "We have to make them realize this isn't a cure, it's very variable."
Company studies showed that taking Provenge added four months to the lives of men with advanced prostate cancer.
That may not sound like a lot, but it is longer than the three months afforded by Taxotere, the only chemotherapy approved for men in this situation. Doctors hope for even greater benefit if they give the drug earlier in the course of the disease.
Dendreon said Thursday the drug will cost $93,000 per patient.
The approval marks a remarkable turnaround for Seattle-based Dendreon, whose shares plummeted three years ago when the FDA delayed a decision on the therapy, asking for more proof of safety and effectiveness. That delay came despite an expert panel's recommendation for approval.
Dendreon shares jumped 19 percent to new highs ahead of the news, rising to an all-time high of $47.32. The company spent more than 15 years developing and testing Provenge.
Analysts expect the product to reach blockbuster sales status — over $1 billion — by 2016, as the company expands production capacity.
Each regimen of Provenge must to tailored to the immune system of the patient using a time-consuming formulation process.
Doctors collect special blood cells from each patient that help the immune system recognize cancer as a threat. The cells are mixed with a protein found on most prostate cancer cells and another substance to rev up the immune system. The resulting "vaccine" is given back to the patient as three infusions two weeks apart.
Initially, Dendreon will identify Provenge patients through the 50 medical centers that helped test the drug. But researchers have been told the company will only be able to provide vaccines for a few patients at each site per month.
"There are going to be a lot of patients that want it and there will be limited resources as they are getting this up and running," said Dr. Deborah Bradley of Duke University School of Medicine
About 192,000 new cases of prostate cancer were diagnosed in 2009, and 27,000 men died of the disease, according to the FDA. Prostate cancer most often affects older men.
Side effects of Provenge are relatively mild, such as chills, fatigue, fever, and headache. By comparison, side effects of chemotherapy typically include hair loss, nausea, anemia and diarrhea.
___
AP Business Writer Marley Seaman contributed to this story from New York
Housing Inventory Snapshot
I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.
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Sunday, April 25, 2010
5 Money Mistakes You Might Be Making (and How to Avoid Them)
If you could have more money in your checking account, you'd definitely take it, right? It probably comes as no shocker to you that it's really easy to let your funds slip away. But what you might find surprising is how simple it can be to turn things around for the better. Here are 5 common money mistakes with doable solutions.
Money Mistake #1: My Money Is Disappearing
No one starts the month planning to fritter away a small fortune, but that’s what can happen when minor expenses spiral out of control. It’s not just shopping at Saks that gets you into trouble. Seemingly innocent purchases — $15 jeans at Target, a few things for the kids at a two-for-one sale, the occasional Frappuccino — can do real damage to your bottom line.
What does it take to waste $10,000 a year? Just $27.40 a day. “You can undermine some of your most important goals with purchases you’ll never remember,” says Suzanna de Baca, president of Private Capital Solutions Group, a Des Moines, IA, investment advisory firm.
The fix: Know thyself financially. First step: Take five minutes and read through your latest bank statement. If the transactions seem unrecognizable and you have no idea why you went to the ATM a dozen times, spend a week tracking your spending (longer, if possible).
You can use a notebook, keep receipts in an envelope, try software like Quicken, or check out an online budgeting tool, like these two money sites we tested. Whichever you choose, find a money-tracking method that lets you see your purchasing patterns with fresh eyes.
Tip: Simple Ways to Save on Groceries
Money Mistake #2: I Throw Away Cash
Who would pass up free money? Maybe you, if you make only the minimum contribution to your employer’s 401(k) savings plan — or opt out of the plan on the grounds that money is tight. According to the 2008 Wachovia Retirement Survey, only about a quarter of women with 401(k)s contribute the maximum allowed. Puny 401(k) contributions mean you aren’t taking full advantage of any free matching funds your company offers. Says De Baca: “If your boss offered to add $25 to your weekly paycheck, would you turn it down? Of course not.” Most employers match all or part of the first 3 to 6 percent of pay employees contribute.
That might not sound like much, but take a look at the math: Assume your company will kick in 50 cents for every dollar you put in, up to 5 percent of your salary. If you’re 40 and making $40,000 but decide not to fund your 401(k), you could be giving up almost $230,000 over 25 years.
The fix: If money is so tight you can’t imagine saving two bucks, start small. You don’t have to put in the maximum $15,500 annual contribution ($20,500 if you’re 50 or older). Instead, increase your contribution by 1 percent of pay a year, until you get the full match. One painless way to save: When you get your next raise, use all or part of it to bump up your 401(k) contribution.
If your employer doesn’t offer a match, that doesn’t mean you should skip making contributions. Remember, a 401(k) lets you put away money tax-deferred. This doesn’t just lower your current tax rate; your earnings can really grow, because Uncle Sam isn’t taking a bite out of them.
Tip: Learn How to Protect Your Savings, Stock, 401(k), and Other Assets
Money Mistake #3: My Kid’s Budget Runneth Over
Many parents find themselves wrestling with financial discipline when it comes to their children, says Galia Gichon, creator of “My Money Matters” Kit, a box of financial tips and workbooks. Whether it’s snacks for the little ones at the market or new skate shoes for your tween, “it’s amazing how quickly saying yes can add up,” says Gichon, a New York City financial planner and mother of two.
The fix: Rather than simply saying no to your kids’ endless wish lists — which can lead to wrenching battles — protect your budget and sanity by teaching your children Money Management 101. “Distract and delay” tactics work especially well for children age 6 and under. If your young daughter is jumping up and down for something she wants at the store, says Gichon, “try focusing her attention on something else, or acknowledge what she wants and say that you can talk more about it later when you’re home.” You may have to endure a little complaining, but your child gets an important message about not buying things on a whim.
Tip: Need Help Sticking to a Budget? Try These Tips
Money Mistake #4: I Never Saw a Windfall I Couldn’t Spend
Whether you receive a raise, a tax refund, or a generous birthday check from Aunt Dotty, it’s hard not to view a windfall as an excuse to go shopping. Splurging can be fun, but that’s rarely the best use of your extra cash. “Few Americans are saving enough to cover day-to-day crises, never mind the future,” says Jonathan Pond, author ofGrow Your Money!
The fix: To make sure you don’t feel deprived, earmark some of the newfound money for a modest treat (Aunt Dotty would want it that way). Gichon suggests using 5 or 10 percent for something fun: “That way you do something for yourself — while deciding what to do with the rest.”
Put the remainder of the money where you won’t be as tempted to touch it. Consider an FDIC-insured, high-yield online savings account such as the one offered by ING Direct. It has no minimum balance requirement or fees, and this account typically pays higher-than-average interest rates.
Next, consider where the money would do you the most good. Tackle any small, urgent problems first — a sore tooth, the clunking sound your car makes, leaky windows. This will help avert the hardship of paying for a string of bigger expenses later on as little problems snowball into debt.
Set aside some of your windfall for expenses that you can’t predict precisely but you know will be coming sometime. “You may not know when your cell phone will quit or the water heater will break, but they will,” Pond advises.
Tip: Check Out 25 Ways to Save More Money This Year
Money Mistake #5: I Forget What I’m Worth
If you’re a stay-at-home mom or you work part-time, you may not have enough life insurance. Many women are under insured because they’ve under estimated their income or the value of their contributions to the household. De Baca recalls one client whose wife died in her 30s and had only a $100,000 life insurance policy, which didn’t cover the need for child care for the couple’s young children or the housekeeping chores the client then required.
The fix: A rule of thumb to determine the amount of insurance coverage that you need — multiply your annual expenses by the number of years until your youngest child will turn 18. (Some parents may also want to factor in the future cost of their kids’ college.) Life insurance premiums actually have plummeted in recent years. So if you’re a healthy nonsmoker in your 30s or 40s, you can now buy a $500,000 term insurance policy for about $40 a month.
You and your partner should revisit your insurance coverage annually — or at least after a major event, like the birth of a child. “It takes a lot to run a household, and you want to be covered,” says De Baca.
Tip: Learn How You Can Pay Less for Insurance
What are your biggest hurdles when it comes to savings? Have you discovered any tips for stashing more in the bank?
If you could have more money in your checking account, you'd definitely take it, right? It probably comes as no shocker to you that it's really easy to let your funds slip away. But what you might find surprising is how simple it can be to turn things around for the better. Here are 5 common money mistakes with doable solutions.
Money Mistake #1: My Money Is Disappearing
No one starts the month planning to fritter away a small fortune, but that’s what can happen when minor expenses spiral out of control. It’s not just shopping at Saks that gets you into trouble. Seemingly innocent purchases — $15 jeans at Target, a few things for the kids at a two-for-one sale, the occasional Frappuccino — can do real damage to your bottom line.
What does it take to waste $10,000 a year? Just $27.40 a day. “You can undermine some of your most important goals with purchases you’ll never remember,” says Suzanna de Baca, president of Private Capital Solutions Group, a Des Moines, IA, investment advisory firm.
The fix: Know thyself financially. First step: Take five minutes and read through your latest bank statement. If the transactions seem unrecognizable and you have no idea why you went to the ATM a dozen times, spend a week tracking your spending (longer, if possible).
You can use a notebook, keep receipts in an envelope, try software like Quicken, or check out an online budgeting tool, like these two money sites we tested. Whichever you choose, find a money-tracking method that lets you see your purchasing patterns with fresh eyes.
Tip: Simple Ways to Save on Groceries
Who would pass up free money? Maybe you, if you make only the minimum contribution to your employer’s 401(k) savings plan — or opt out of the plan on the grounds that money is tight. According to the 2008 Wachovia Retirement Survey, only about a quarter of women with 401(k)s contribute the maximum allowed. Puny 401(k) contributions mean you aren’t taking full advantage of any free matching funds your company offers. Says De Baca: “If your boss offered to add $25 to your weekly paycheck, would you turn it down? Of course not.” Most employers match all or part of the first 3 to 6 percent of pay employees contribute.
That might not sound like much, but take a look at the math: Assume your company will kick in 50 cents for every dollar you put in, up to 5 percent of your salary. If you’re 40 and making $40,000 but decide not to fund your 401(k), you could be giving up almost $230,000 over 25 years.
The fix: If money is so tight you can’t imagine saving two bucks, start small. You don’t have to put in the maximum $15,500 annual contribution ($20,500 if you’re 50 or older). Instead, increase your contribution by 1 percent of pay a year, until you get the full match. One painless way to save: When you get your next raise, use all or part of it to bump up your 401(k) contribution.
If your employer doesn’t offer a match, that doesn’t mean you should skip making contributions. Remember, a 401(k) lets you put away money tax-deferred. This doesn’t just lower your current tax rate; your earnings can really grow, because Uncle Sam isn’t taking a bite out of them.
Tip: Learn How to Protect Your Savings, Stock, 401(k), and Other Assets
Many parents find themselves wrestling with financial discipline when it comes to their children, says Galia Gichon, creator of “My Money Matters” Kit, a box of financial tips and workbooks. Whether it’s snacks for the little ones at the market or new skate shoes for your tween, “it’s amazing how quickly saying yes can add up,” says Gichon, a New York City financial planner and mother of two.
The fix: Rather than simply saying no to your kids’ endless wish lists — which can lead to wrenching battles — protect your budget and sanity by teaching your children Money Management 101. “Distract and delay” tactics work especially well for children age 6 and under. If your young daughter is jumping up and down for something she wants at the store, says Gichon, “try focusing her attention on something else, or acknowledge what she wants and say that you can talk more about it later when you’re home.” You may have to endure a little complaining, but your child gets an important message about not buying things on a whim.
Tip: Need Help Sticking to a Budget? Try These Tips
Whether you receive a raise, a tax refund, or a generous birthday check from Aunt Dotty, it’s hard not to view a windfall as an excuse to go shopping. Splurging can be fun, but that’s rarely the best use of your extra cash. “Few Americans are saving enough to cover day-to-day crises, never mind the future,” says Jonathan Pond, author ofGrow Your Money!
The fix: To make sure you don’t feel deprived, earmark some of the newfound money for a modest treat (Aunt Dotty would want it that way). Gichon suggests using 5 or 10 percent for something fun: “That way you do something for yourself — while deciding what to do with the rest.”
Put the remainder of the money where you won’t be as tempted to touch it. Consider an FDIC-insured, high-yield online savings account such as the one offered by ING Direct. It has no minimum balance requirement or fees, and this account typically pays higher-than-average interest rates.
Next, consider where the money would do you the most good. Tackle any small, urgent problems first — a sore tooth, the clunking sound your car makes, leaky windows. This will help avert the hardship of paying for a string of bigger expenses later on as little problems snowball into debt.
Set aside some of your windfall for expenses that you can’t predict precisely but you know will be coming sometime. “You may not know when your cell phone will quit or the water heater will break, but they will,” Pond advises.
Tip: Check Out 25 Ways to Save More Money This Year
If you’re a stay-at-home mom or you work part-time, you may not have enough life insurance. Many women are under insured because they’ve under estimated their income or the value of their contributions to the household. De Baca recalls one client whose wife died in her 30s and had only a $100,000 life insurance policy, which didn’t cover the need for child care for the couple’s young children or the housekeeping chores the client then required.
The fix: A rule of thumb to determine the amount of insurance coverage that you need — multiply your annual expenses by the number of years until your youngest child will turn 18. (Some parents may also want to factor in the future cost of their kids’ college.) Life insurance premiums actually have plummeted in recent years. So if you’re a healthy nonsmoker in your 30s or 40s, you can now buy a $500,000 term insurance policy for about $40 a month.
You and your partner should revisit your insurance coverage annually — or at least after a major event, like the birth of a child. “It takes a lot to run a household, and you want to be covered,” says De Baca.
Tip: Learn How You Can Pay Less for Insurance
What are your biggest hurdles when it comes to savings? Have you discovered any tips for stashing more in the bank?
Wednesday, April 21, 2010
6 Things You're Doing to Delay Your Retirement
Millions of senior citizens are discovering that they do not have adequate financial resources to retire. Some seniors are unable to retire due to the recent economic crisis and others due to poor financial habits. The stark truth is this: financial decisions that you make on a daily basis have a direct impact on your financial future. Poor financial habits will have you working longer, retiring later and finding yourself flat broke in your golden years. Here are six financial habits that could be keeping you from reaching your retirement dreams.
Do you have to buy the latest model luxury car as soon as it hits the showroom floor? Do you spend a lot of money on impulse purchases that you really didn't plan on buying until you were in the mall? Trying to keep up with your neighbors by owning every possession that they have will delay your retirement. Status symbols may make you look financially prosperous but will have your bank account showing something completely different.
One of the most effective ways to reach your retirement goals is by simply living without your means. Set your budget and stick to it. Spending too much on expensive clothing and jewelry can have you spending your golden years right beside the Joneses in the financial poorhouse.
2. Bad Habits
Bad habits have a way of quickly eating up your retirement savings and keeping you from your retirement goals. Smoking, drinking and gambling are expensive habits to have and the cost is only going up each year. The average price for a pack of cigarettes nationwide is currently $5.00 according to Bankrate.
Smoking a pack of cigarettes a day will cost you $1,825 per year. Over a 50-year time period, the cost would be $91,250! That figure is based on cigarette prices not rising, which we all know is highly unlikely. New York residents are already paying over $10 for a pack of cigarettes.
While drinking a glass of wine a day may lengthen you life expectancy, imbibing too much alcohol may kill your finances. With the average price of beer running $4, just drinking two bottles of beer a day can cost you $56 a week. That's almost $3,000 a year that could have been used to fund your IRA.
You don't have to travel to Atlantic City or Las Vegas to gamble away your financial future. Everyday people give away their paychecks trying to hit the lottery jackpot. Imagine how much money you could save by not wasting $5 to $10 daily on card games, online games and lottery tickets.
3. Underfunding Your Retirement Plan
According to the Bureau of Labor Statistics, the average American has less than $50,000 in their retirement accounts. This includes young adults and baby boomers near retirement age. Poor financial planning is causing many senior citizens to work during their golden years. These seniors are finding it difficult to retire because they would not be able to enjoy the same quality of life. Social Security alone just won't cut it.
So, how can you avoid falling into the same situation? Sock away as much money as possible in your retirement plan. Max out your contributions and plan to save more money than you think you will need so that you can survive financial emergencies. The current economic downtown has forced many senior citizens to return back to the workforce.
4. Taking on Too Much Debt
The number one thing that keeps people from retiring is debt. Millions of Americans rack up huge amounts of debt due to auto loans, personal loans and credit cards. The Federal Reserve measured consumer debt at a whopping 2.46 trillion dollars. And that doesn't even include real estate debt! The average credit card debt per household is over $16,000 according to Creditcards.com.
The debt problem is not just specific to the United States. Millions of U.K. baby boomers have high mortgage balances and have relatively little money in savings.
5. Investing in Depreciable Assets
Investing in depreciable assets instead of appreciable assets can leave you with nothing to show for your hard-earned money except a lot of regrets. Depreciable assets are assets that are likely to decline in value such as cars, boats, computers and machines. Instead invest your money in appreciable assets like stocks, bonds, mutual funds, exchange traded funds and annuities. These assets have the ability to appreciate, and spend their time working for you instead of against you.
6. Spending Too Much on Entertainment
Hitting the town and eating luxurious dinners night after night will eat a huge hole in your retirement savings. Entertainment expenses can be major budget busters because they are often unplanned events. How many people keep track of how much money they spend at movies, restaurants, bars, nightclubs and sporting events? Small expenses like these may go unnoticed and leave you wondering where your paycheck went.
The Bottom Line
Retirement may seem like a long ways away but it is just around the corner. Avoiding poor financial habits and making solid financial decisions for your future will have you sipping Mai Tais on a Hawaiian island in no time.
Tuesday, April 20, 2010
5 Costly Mistakes First-Time Buyers Make
Buying a first home can be a daunting experience. Here are five common and costly mistakes that novice home buyers make:
1. Ignoring the costs of having a low credit score. Lower-score borrowers pay thousands of dollars in increased interest rates over the life of the loan.
2. Muddying the waters by shopping for other things before closing. Lenders continue to check credit scores right up until the time of closing. Too much shopping could cause the lender to take back the loan.
3. Scrimping on an inspection. Being surprised by the need for expensive repairs can be financially devastating.
4. Buying without contingencies. Buyers should give themselves an out if the inspection turns up problems or the bank raises the interest rates.
5. No money for insurance. Insurance can be surprisingly pricey. Buyers who don’t budget for it can face a nasty surprise.
1. Ignoring the costs of having a low credit score. Lower-score borrowers pay thousands of dollars in increased interest rates over the life of the loan.
2. Muddying the waters by shopping for other things before closing. Lenders continue to check credit scores right up until the time of closing. Too much shopping could cause the lender to take back the loan.
3. Scrimping on an inspection. Being surprised by the need for expensive repairs can be financially devastating.
4. Buying without contingencies. Buyers should give themselves an out if the inspection turns up problems or the bank raises the interest rates.
5. No money for insurance. Insurance can be surprisingly pricey. Buyers who don’t budget for it can face a nasty surprise.
Friday, May 23, 2008
Buying Foreclosures
Investing in foreclosure property is a great way to set up another stream of income. Many people decide to invest in a foreclosure property so that they will have some additional money coming in each month. But before you start looking for a foreclosure property to invest in, you will want to make sure you know what to look for.
Assessing a foreclosure property can sometimes be the most difficult part of the buying process. It is during this stage that you will decide which property is best for you, and how much money you think you will be able to make. Remember you make your money when you BUY.
When assessing a foreclosure property the first thing that you want to do is find out how much the repairs will be before you can re-sell it, or set it up as a rental property. Every dollar that you have to put into the home will cut back on the amount of profit. If you are not skilled enough to make an accurate assessment in this area, you will want to get a contractor to look at the property. They will be able to give you an estimate of how much the repairs are going to cost.
After assessing the repairs, you will then want to figure out how much profit you think you can make on the home. This may seem difficult, but you should be able to make an educated guess without many problems at all. The first thing that you will need to do is factor in all of the repair costs. After that, if you plan on renting the home, you will want to get an idea of how much rent you can charge per month. This will give you an idea of your monthly cash flow. You can then take this number to calculate the amount of time that you will need to make back your initial investment and start profiting. If you are going to be reselling the house, get an idea of what the market value is on the home. This can be done by checking out similar homes in the area. You can easily get CMA (competitive market analysis) free from myself or your local Realtor. After you have done this, you should be able to calculate your profit.
Investing in a foreclosure property is a great way to make some extra money. Who knows, you may find yourself buying a second property before you know it.
When you build bridges you can keep crossing them.
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