So, at this time, I would like to open up any questions, I’d be happy to take them.
For the Fannie Mae Home Path Program, yes, and one another thing to share with you if you’ve heard of mortgage insurance, if you go and get FHA loan, there’s mortgage insurance which is a little bit one percent on your monthly payment. These Fannie Mae loans are without mortgage insurance. So, you can buy three percent instead of three and a half for FHA, three percent or Home Path or ten percent for investor loan.
And that includes the insurance?
What I did was these calculations that I did include the , I even put there for insurance, taxes as well.
Great question. So, part of our strategy is to try to get out of these properties as quickly as possible. We, the real estate expert witnesses, don’t try to pinch every last penny out of the property and hopes that we can get five or ten thousand dollars more and have it sit on the market for ninety days because time is money in this and the more properties that we can turn in a year is the greater return to the investor. So, really the strategy is, we make them look in whatever pricing we are looking in, we make them look one of the most homes that are available on the market.
If you know, if you’ve been looking out there and you see short sales in Oreos especially in the five hundred and below range, they don’t show very well at all. So, we come in and first make them appeal to the masses by giving everyone the carpet, the nice granite countertops, nice stainless steel appliances and then we priced them competitively. So, the majority of my transactions have been total hold time of less than ninety days, less than ninety days from when we purchase it to through rehab, getting it on the market and selling it. So, days on market are probably less than forty five total whole time is about average of ninety.
You know, I don’t want to promise the sky and fall short of expectations. So, I let them know that any investment is risk involved and I will show you my track record of what I have earned on each transaction that I’ve done. Markets can change, things can fluctuate, can number change a little bit, yeah. If someone wants thirty or forty and say, you know, or probably not going to be able to get that, but if you’re happy with somewhere in the eighteen to twenty percent in a year on your money which is incredible – right, Glen, right, Steve, in today’s market?
One and a half percent if you have longer term. So, I mean, I think people would be very pleased and happy with the same as we set expectations of firm. Any other questions? All right, thank you everyone.
Real Estate Investment Strategies Pt 6
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