Our newest pre-renovation member of our Evansville Indiana family of homes. The historic “Miller” house was home to the 1920’s trolly cars at night. This is going to be our biggest most challenging project. Remember this before of this massive space. We are super excited to show you ever click here leg of the transformation. You won’t believe the after!
Our newest pre-renovation member of our Evansville Indiana family of homes. The historic “Miller” house was home to the 1920’s trolly cars at night. This is going to be our biggest most challenging project. Remember this before of this massive space. We are super click here excited to show you ever leg of the transformation. You won’t believe the after!
Our newest pre-renovation member of our Evansville Indiana family of homes. The historic “Miller” house was home to the 1920’s trolly cars at night. This is going to check here be our biggest most challenging project. Remember this before of this massive space. We are super excited to show you ever leg of the transformation. You won’t believe the after!
Home loan defaults rose in September, producing the most extensive single-month-default increase in many years.
Defaults accelerated to 13.2% in September, the most substantial month-to-month increase since November 2008. This increased the nationwide default rate to 3.97%.
Generally, the month of September experiences an increase in defaults. Of the most recent 19 Septembers, 16 experienced increases, which brought the average default rate to 5.2%. This is the biggest jump in defaults for any single month.
UNCOVER MORE REAL ESTATE TRENDS
The 2nd variable that generated an increase in defaults was the fact that the calendar month finished on a Sunday, which generally causes a tremendous burden on defaults.
Moreover, Hurricane Florence, which swept the Eastern United States in September, impacted defaults to an increase of 38% month-over-month in the States it affected. Currently, more than here 6,000 homeowners are delinquent as a result of being affected by the hurricane.
Foreclosures dropped 15.1% from August to virtually an 18-year low. This was actually down 11.5% from September 2017. The month’s double-digit decrease brought foreclosed properties to 40,000 for the month.
Seems like every time I either turn on the TV or read business articles all I see is that the Market is approaching a correction. To me, that does not mean much as I have not been one that places all my financial eggs in one basket. I like to have multiple streams of investment income when it comes to my financial future. One of those streams that I found 5 years ago was purchasing performing and non-performing mortgages. I can hear you saying…What the heck are you talking about? I can invest in mortgages? Yes, you can just as hedge funds and banks do. Of course, on a smaller scale, and you too can own real estate without all the hassles of being a landlord.
Mortgages A.K.A. notes can be bought directly from banks, credit unions, lenders, and private sellers. To buy directly from banks and credit unions you would have to have established connections. Do not fret, the third option and that is purchasing notes from private sellers works just fine for us average investors. Full disclosure, my Company TruVest sells notes to interested investors. And I am not trying to pitch you at all. I want to share and educate you on a different world that most investors do not know exists outside of the Stock and Bond Markets.
For this post, I just want to introduce you to real estate notes and how they get more info can help you solidify your financial future. Below are some basic key descriptions:
Real estate notes are also known in the industry as the following:
• Deed of Trust
• Land Contract
• Bond for Title
• Mortgage (Fixed or adjustable, First or second)
• Promissory Note
Typically, lenders refer to real estate notes in the following four distinct categories:
1.Residential Notes — Those obtained by borrower(s) for use as a home or investment
2.Commercial Notes — Those acquired by a business entity to have a location to perform business functions from or investment
3. Performing — The borrower(s) are actively repaying the note within the note’s term and requirements
4. Non-Performing — For whatever reason(s) the borrower(s) have ceased making the note’s required payments.
Mailbox Money or Risk Taker?-My favorite Question
There are several avenues that you can explore. The first question to ask yourself is are you looking for mailbox money or are you a bit more of a risk taker? If you are looking for mailbox money, then you need to be looking at performing notes. If you are bit more of a risk taker and are looking for a more substantial ROI then you want to look at non-performing notes. Each of these investments can return double-digit returns in as little as 6 months. My last statement is solely based upon my experience investing in real estate notes. And I will share some of my deals in my upcoming posts. I am going to leave you here for this post and next week I will be sharing more in-depth on performing notes and a few horror stories of mine from my note investing journey.