How to flip homes with little money out of your pocket. Team Thayer Oregon Real Estate Advice

Flipping and refurbishing houses has become all the rage over the past decade. Almost everyone has become an expert on mortgages, refinancing, and remodelling.Introducing the 203K loan. It’s officially known as Rehab Mortgage Insurance; but that’s putting the cart before the horse. Simply, it’s an insured home loan. With the 203k FHA loan you have the ability to buy that spec house knowing that your pre-approved loan is going to come with some extra money for repairs. The restoration costs are at least $5,000. Spending that is not a problem these days,

It’s an FHA backed loan that is insured, so the lender is more inclined to approve it; especially if you have done your homework and have all the paperwork showing the remodeling estimates. Remember, the 203K loan is designed to cover the present value of the house plus the cost of the rehabilitation, or 110% of the appraised value of the property after rehabilitation; whichever is less.

You can also acquire the 203K loan as refinancing for your current dwelling; and you can even convert your property to multiple attached single-family units. That’s right, you can build duplexes and condominiums with this loan, even if there is only a foundation and slab showing at time of underwriting. That’s exciting for the seasoned contractor and weekend carpenter alike!

This loan was designed to help the average home-owner. As we all know, repairs are costly; and putting your house on the market is often thwarted by not being able to modernize it properly. Here is a way to either get out from under an aging property and move forward, or feel refreshed in the home you plan to stay in. It’s a win-win situation for the lender and the loan recipient. It’s good for communities, and it’s good for your peace of mind.

There are some minor variations of this loan, such as the 203(b); however, the 203K loan is the full version that covers all aspects of rehabilitation financing. If you are interested, you can contact an FHA approved lender and explore all of your options. HUD requires that properties financed under this program meet certain basic energy efficiency and structural standards; but that’s part of your plan anyway, right?

UFC 227 play-by-play and live results #UFC #MMA #UFC227

LOS ANGELES – MMAjunkie is on scene and reporting live from today’s UFC 227 event, and you can join us for live play-by-play and official results beginning at 6:30 p.m. ET (3:30 p.m. PT). The event takes place at Staples Center in Los Angeles. The main card airs on pay-per-view following preliminary-card bouts on FX and UFC Fight Pass. In the main event, bantamweight champion T.J. Dillashaw (15-3 MMA, 11-3 UFC) rematches former champ and ex-teammate Cody Garbrandt (11-1 MMA, 6-1 UFC) for the title. In the co-feature, flyweight champion Demetrious Johnson (27-2-1 MMA, 15-1-1 UFC) has a rematch with Olympic gold medalist and former title challenger Henry Cejudo (12-2 MMA, 6-2 UFC). Follow along with our round-by-round updates and official results beginning at approximately 6:30 p.m. ET for the UFC Fight Pass prelims, 8 p.m. ET for the prelims on FX, and 10 p.m. ET for the main card on pay-per-view. To discuss the show, be sure to check out our UFC 227 discussion thread...

Understanding the tax advantages and disadvantages of homeownership #realestate #taxadvantage #taxes #housing #market

It’s no secret that some of the major perks of homeownership are the tax write-offs and advantages that follow the purchase. In fact, according to a 2015 survey by the National Association of Realtors, 80% of homebuyers see homeownership as a good investment, and 43% think it’s better than investing in the stock market. Reaping the rewards of mortgage interest and property tax deductions is just one way to think of your home as an investment. But there are even more real estate–related tax advantages and disadvantages that can slip under a new homeowner’s radar. It can be relatively easy to trigger tax liabilities or perks (and then fail to claim them) on that new piece of Eugene, Or, real estate . This is why it’s essential to touch base with your tax pro before every real estate transaction, no matter how minor a question you may have. Sometimes planning and timing make a major difference in the financial impact of a real estate–related tax; other times, ...

Team Thayer Real Estate House Flipping Traps! #flippinghouses #eugeneoregon #oregon #housing #market #realestate

If you’ve got several leads waiting to turn into potential deals, you can’t wait for one to suddenly come knocking at your door. Successful real estate house flippers have one trait in common: they place an emphasis on proper planning. Once you’ve secured a deal, you must decide what kind of rehab you will perform. Will you conduct a few simple cosmetic upgrades (like these 10 rehab projects you finish in one weekend )? Or, is the home nice enough to sell after an easy prehab ? Are there structural damages that will require you to carry out more major renovations? Will you focus on implementing environmentally friendly renovations – also known as “greenhabbing” – so that you qualify for certain tax benefits ? Once you’ve determined your strategy, it is important to ask yourself these specific questions before diving into the construction action: What are the current market conditions in my area? What does my ideal buyer look like? Does my marketing cam...

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