Which, if you missed it, was to repeal a never-enacted rate cut to FHA buyers for mortgage insurance premiums. In his last days in office, president Obama issued an order to cut the annual mortgage insurance premium from .85% of the loan balance to .60%. This rate cut didn’t go into effect until January 27th,…
Like a lot of seasoned investors, I have a LOT of opinions about the “right” way to do things. In fact, I’m afraid that, once I form a particular belief about something, I might be even MORE likely to stick to it like white on rice than the average person, ‘cause I’ve been around the…
Understanding Performing vs. Non-Performing Note Investments There are 2 kinds of notes that you can buy: performing (that is, the note is being paid as agreed by the borrower) and non-performing (the payments are not being made, and the note is “in default”). Usually, when you buy a non-performing note on a vacant home, your…
In every single city I visit, I’m challenged with some version of this statement: “Our market is so hot that it’s really not possible to buy deals at investor prices right now—much less at wholesale prices.” And I mean EVERY city, from Nashville to L.A. to Toledo. In fact, I hear the…
Hindsight is, as they say, 20/20. IF ONLY I could go back to 2006, cash in all my properties, and use the money to short Fannie Mae stock. Sigh. But daydreaming that you could have had foreknowledge of something as earth-shattering as the real estate crash is one thing; continuing to act in ways that…