Dallas Duplex Foreclosure (Video) $50K!

 By Troy Corman, todayshomedeals.com

This Dallas duplex foreclosure is a cash flow special. Needs a little TLC, but not much.






Listing courtesy of Kelly Anne Porter, Metroplex R.E. Services

How to Make a Killin' - Video of Dallas Townhome for Sale - Now $299K, Was $160K.

 By Troy Corman, t2realestate.com

Every now and then, you come across an unbelievable deal. This townhome was on the market for a few days at $160K. I had a couple of buyers who were interested but by the time they were ready to look at it, it was gone. Moral of the story - great deals get gobbled up - FAST! Listing courtesy of Terri Herren, ReMax.

North Dallas Foreclosure - Midcentury Modern (somewhat) Less Than $200K

Bank-owned home in need of repair surrounded by upper end homes in prestigious north west Dallas. Needs cosmetics, pool repair and a heapin helping of creativity!





Listing courtesy of Tom Stites, Coldwell Banker Residential.

Historic Swiss Avenue Manse For Only $468K

This historic Swiss Avenue mansion was built in 1920 and boasts over 4400'. Homes on this part of Swiss Avenue run from the high $700s to $1M plus. It needs some work. Video one of four detailing this Swiss Avenue home and neighborhood. Courtesy of Lisa Robinson, Prudential Real Estate.

Who's Buying Now? Cash Buyers.

By Troy Corman, todayshomedeals.com

"Be fearful when others are greedy, and greedy when others are fearful". This simple mantra was uttered by arguably the greatest investor of all time, Warren Buffett. Like so many things that sound so simple, it's execution is anything but... simple. Human nature tells us to freeze when things are uncertain or dangerous and to plunge ahead when the skies are sunny. This is precisely why the majority of investors buy stocks in bull markets at their highs and sell at the bottom.

Harry Dent, author of The Great Depression Ahead says we're about to embark on the greatest investing opportunity in our lifetime. Mortgage rates are at historical lows, foreclosures and distressed real estate sales make up more than a third of the market. And if the market gets even worse, good deals will turn into great deals. Also, by paying with cash, some home buyers have turned good deals into great deals. Banks that have a huge supply of foreclosures sometimes opt to take the done deal for less money, rather than risk their time with a borrower unable to secure financing in today's tighter lending environment. In fact, 3 out of every 10 homes sold nationwide are now purchased with cash.

Rental real estate is my investment vehicle of choice because I think it's much more predictable than sticking your money in the market, offers higher returns than than sticking it in the bank, AND if offers unparalleled tax deductions.

How does one make money from rental real estate?

1. Cash flow - monthly rental income exceeds ALL of the monthly costs ($100-300+ a month).

2. Property appreciation and equity capture - meaning you're buying the property for less than it's worth - and it should appreciate while you own it - so you'll hopefully realize a large capital gain when you sell.

3. Then of course, there's the gravy - the terrific tax deductions like deducting the mortgage interest, property taxes, insurance costs, repairs, and depreciation from your federal tax return. In Texas, a home worth around $100K with the building itself worth $80K would result in a tax deduction of about $10,000 annually. Owning 10 of those homes would result in $100K worth of deductions a year. Plus, you'll only pay capital gains on the sale if you hold it for a year, currently 15%, although Dems are trying to increase it.

Those that take action get results. To get started and to get some free information on Dallas real estate investing, contact Troy Corman with t2realestate at 214.690.9682.

TDHCA Bond 77 - The Biggest Texas Zero Down Payment Assistance Program Ever.

By Troy Corman, www.t2realestate.com

Due to the expiration of the Federal $8,000 Tax Credit Refund, Texas has created it's largest 1st-time home buyer incentive - EVER.

Qualifying recipients will receive up to 5% of the loan amount to be used for down payment assistance and closing costs assistance. And with a maximum purchase amount of $258,690 - the down payment assistance could reach the $12,000+ area.

Plus, unlike the federal tax credit, where you have to wait to get refunded your credit at tax time, qualified buyers get the DOWN PAYMENT ASSISTANCE MONEY from Texas on the closing date, which is the day you usually get the keys to your new home!

In a previous blog story, we discussed additional details regarding the Texas Bond 77 Zero Down Payment Assistance Program - the largest ever initiated by the state of Texas. Until October 15, $50 million a month will be distributed STATE-WIDE. As the Bond 77 program is very much off the radar - FOR NOW - please don't put this off until the last minute or you could miss out - the funds are dispersed on a first-come, first-serve basis.

Again, those that qualify, will receive up to 5% (of their home loan amount) in down payment assistance and closing cost assistance from the state of Texas. To qualify for the Bond 77 Texas Down Payment Assistance program, you must provide 3 years of federal income tax returns and take a course on home buying approved by the TDHCA. Some courses are online and take about an hour to complete. You will then be issued a certificate to present to your mortgage officer in order to be eligible for the Bond 77 Down Payment assistance funds.

The 5% down payment assistance from Texas is issued in the form of a loan that doesn't require monthly payments - It's called a "silent" second lien because there are no payments, or interests to pay unless you sell the home or refinance the home - or turn the home into a rental home. Otherwise, the 5% down payment assistance from Texas wouldn't be due until 30 years later, at the end of the mortgage term.

HOW TO PAY ZERO DOWN FOR A HOME - By combining the Texas Bond 77 Down Payment Assistance program with FHA financing, you could negotiate for the seller to pay up to 6% of your (buyer's) closing costs. With the 5% from Texas, and up to 6% from your seller, many homes will qualify for a true ZERO DOWN HOME PURCHASE.

Act quickly, however as the FHA has announced IT WILL REDUCE SELLER PAID CLOSING COSTS FROM 6% TO 3% THIS SUMMER.

Income limits for the 1st-time Home Buyer Down Payment Assistance are below. 1st-time home buyers are defined as those that have not owned a home in the last 3 years.

Income Limits Throughout Texas:
1-2 persons residing in home = $73,300 (total income in home)
3+ persons residing in home = $84,295 (total income in home)

For additional details on the Texas Zero Down Payment program, visit our previous blog post regarding the Texas Bond 77.

Contact Troy Corman with t2 Real Estate to get started. And please remember that although the deadline is October 15, that once the $50 million is gone each month, it's gone!

Buy A Home ZERO DOWN.

By Troy Corman, t2realestate.com

This is no late-night infomercial. I must admit I'm truly skeptical when I hear something that sounds too good to be true. But the Texas "Bond 77" Program, when combined with a seller paying all of a buyer's closing costs (up to 6% on FHA loans), a home buyer can now buy a home with ZERO OUT OF POCKET.

Act quickly, however as the FHA has announced IT WILL REDUCE SELLER PAID CLOSING COSTS FROM 6% TO 3% THIS SUMMER.

The Texas Bond 77 Down Payment Assistance program was formed by our state, following the expiration of the home buyer tax credit. It appears to be off the radar at the moment, but that could change quickly. Texas has pledged $500 million ($50 million a month) statewide to assist 1st-time home buyers with down payment funds, or lower interest rates, that meet certain requirements.

This program is only available for owner occupied single-family homes. And it's available on a first-come, first-serve basis.

All areas are available for the program but "targeted areas" where median incomes are lower, have greater incentives for both first-time and repeat home buyers - and in the Bond 77 targeted areas, the 1st-time home buyer requirement is waived.

A "first-time home buyer" is defined as someone who has not owned a home in the past three years.

Bond 77 Limits For All Texas Homes:
 - Maximum Income of 1-2 persons = $73,300
 - Maximum Income of 3+ persons = $84,295
 - Maximum purchase price: $258,690 (ONLY 1ST-TIME HOME BUYERS ARE ELIGIBLE)

Bond 77 Income Limits For TARGETED AREAS:
- Targeted areas: Maximum Income of 1-2 persons = $87,960
- Maximum Income of 3+ persons = $102,620
- Maximum purchase price: $316,177

The Bond 77 Program is for SINGLE FAMILY HOMES (owner-occupant) only. Rental homes, investment homes and multifamily homes do not qualify for the down payment assistance program.

Down Payment assistance is in the form of a "silent" 2nd lien which means there is no interest, no payments, but when you sell the home you must pay the amount back. If you live in the home for 30 years, the loan "balloons" at that time, which means the entire amount is due.

Also, if you refinance the home, or convert it to a rental you must pay back the down payment assistance amount at that time.

A home buyer education course is required for home buyers who wish to qualify for the program. Many are online and take about an hour to complete.

For further details, or maps of the Bond 77 Texas targeted areas, contact Troy Corman at 214.690.9682.

15 Year Fixed Rate Almost Below 4%.

With the ten year treasury plummeting today, mortgage rates are at historic lows. The zillow mortgage rate calculator is showing 30-year rates at 4.6% and 15-year rates almost below 4% at 4.13%. Wow!

Plano Home For Sale (Plano Foreclosure) $30K Below Area Norm.

Bedrooms: 3

List Price: $ 99,900

Baths:2.0

Price/Sqft: $ 55.41

Sqft: 1803

Avg. Price/Sqft: $ 86.06

Year Built:1973

Below Normal: $ 55,273 (36%)

Property Remarks: Great potential in this property. Close to schools, large yard, great floorplan. Needs work, bring your investors. Must have prequal or proof of funds to submit any offers.

Listing Agent: Susan Richardson. Realty Firm: CENTURY 21 Posey Properties.

See photos and details at todayshomedeals.com

 

TodaysHomeDeals.com - Dallas Lakewood Home Deal $30K Below Area Norm.

Address: 7036 GASTON Dallas, TX 75214

Bedrooms: 3

List Price: $ 287,767

Baths:2.1

Price/Sqft: $ 159.96

Sqft: 1799

Avg. Price/Sqft: $ 205.58

Year Built:1940

Below Normal: $ 82,079 (22%)

Property Remarks: 1940's 2 Story traditional on elevated tree shaded lot seconds from White Rock Lake & Park. Home offers formal living & dining, refinished hardwoods, extensive moldings & builtins, updated kitchen with corian countertops, stainless app. & saltillo tile, 3bedrooms up & 2full baths with charming period tile, balcony off master, sunroom or office down, powder room, French doors from dining to stone patio & expansive private yard, 2 car garage. Listing Agent: Paige Whiteside. Realty Firm: Ebby Halliday, REALTORS.

View details and photos at todayshomedeals.com

Casa Linda Home For Sale - A Dallas Home Deal Thousands Under Market.

Bedrooms: 3

List Price: $ 189,500

Baths:2.0

Price/Sqft: $ 100.91

Sqft: 1878

Avg. Price/Sqft: $ 156.37

Year Built:1950

Below Normal: $ 104,162 (35%)

Property Remarks: Walk to Casa Linda shopping. Good drive up, 30 X 35' patio or basketball court, large lot, close to White Rock Lake and downtown Dallas. Recently painted. Study can be 4th bedroom.

Listing Agent: John Coats. Realty Firm: RE/MAX Associates of Dallas

View details and photos at todayshomedeals.com

 

Bluffview Home Deal - 33% Below Area Norm.

Property Remarks: Prairie style home on 50x150 lot. Home located on block that is in transition with new homes being built. Home has 3bdrs. & 2 baths with open kitchen area to family room. Carpet layed over hardwood floors in part of the house. Woodburning fireplace in living area. Great starter home & priced for quick sale. Listing Agent: Michael Redden. Realty Firm: Dave Perry-Miller & Associates.

View details & photos of this Bluffview home at todayshomedeals.com

Short Sales Rules Changes Begin April 5.

Article by The Washington Post

With new Treasury Department rules designed to expedite short sales set to take effect April 5, relief can't come soon enough for some area buyers, sellers and real estate agents who have waded through a long and arduous process to get short sales approved by the bank.

In a short sale, a homeowner sells the property for its current market value, which is less than what's owed on the mortgage, and the lender agrees to accept the lower amount. The new rules that offer participating lenders cash incentives to get them to approve more short-sale deals also allow them only 10 days to approve or reject short-sale purchase offers, said Treasury spokeswoman Meg Reilly.

Incentive payments written into the Home Affordable Foreclosure Alternatives Program are designed to help offset some of the financial pain that banks experience when they agree to settle for less than they are owed on a home loan. Mortgage servicers (the companies that accept and process homeowners' mortgage payments) may receive up to $1,000 for the successful completion of a short sale. Treasury will also pay up to $1,000 to those holding second liens and home equity loans, if they agree to the deal. While junior lien holders have begun to ask for more compensation, the rules now limit incentives to $3,000.

To help speed up short sales, the program calls for lenders to use standardized paperwork and to establish an acceptable sale price before the home is put on the market. Sellers will be allowed at least 120 days to market the home and possibly as long as one year. During that time, the lender cannot foreclose. At closing, the government will give sellers up to $1,500 to cover relocation expenses.

Banks participating in the program have also agreed not to negotiate reductions in real estate agents' sales commissions after they receive a short-sale contract. Such commission reductions have discouraged some agents from listing and showing short sales, according to the National Association of Realtors.

According to the Treasury rules, a participating loan servicer must offer the short-sale program to a borrower who does not qualify for, or did not succeed at, a loan-modification under the administration's home affordable mortgage program.

Nationally, 38 percent of all sales in January were distressed sales, which include short sales and foreclosures. In the Washington area, short sales accounted for 6 percent of all sales in Maryland and 8 percent in Virginia during the last four months of 2009. That number is expected to rise significantly in the next several months, according to NAR. Agents have not yet reported short-sale activity in the District.

Some who have worked with short sales, however, are skeptical that the new rules can compress the approval process into 10 days.

"I've done five short sales in the past year and, frankly, I don't want to do another one," says Cyndy Davis, president of Flaherty Group Realty in Kensington. Her most recent short sale, which required a sign-off from Bank of America, took 10 months.

"I contacted the bank at least every other day, and it still took them 90 days to respond to our first offer on a Silver Spring townhouse," Davis said. "They took from June until August. Then when we ordered the appraisal, it came in $33,000 below my buyer's offer. When we resubmitted the new offer, it took the bank another 45 days to respond."

Mortgage servicers take 90 to 120 days on average to approve short sales, according to NAR, the National Association of Realtors.

View Dallas forecosures and Dallas short sales at todayshomedeals.com

Mortgage Rates Ticking Up.

By Troy Corman, t2realestate.com

Mortgage rates are on the way up. Fixed mortgage rates are tied to the US 10-year Treasury Note which has moved from below 3.25% to just below 4% in the last six months. According to bankrate.com, the overnight average on 30-year fixed rates was 5.26%, up from 5.12% a week ago. The 15-year fixed rate loan had a larger spike up to 4.58% this week from 4.36% a week ago.

Pundits argue as to why the 10-year Treasury Notes are rising. Some say it's because the economy is improving, while others argue that bond investors are growing increasingly concerned with the explosion of US government debt and deficits.

With rates still near historic lows, homes at their most affordable prices in years, and the free government tax refund money for buyers, some can buy a house with virtually no money out of pocket.

HAMP Program And FHA Refinances Aimed At Helping Layed Off Workers.

Article from Realtor.org

On March 25, 2010, the Obama Administration, including Federal Housing Administration (FHA) Commissioner David H. Stevens, announced changes to the Home Affordable Modification Program (HAMP) and enhancements to the FHA's refinance program. The Federal cost of these changes will be funded through the $50 billion allocation for housing programs under the Troubled Asset Relief Program (TARP).

Under the HAMP enhancements, unemployed borrowers meeting eligibility criteria will have an opportunity to have their mortgage payments temporarily reduced to an affordable level for at least 3 months and up to six months for some borrowers while they look for a new job. Eligible homeowners under HAMP must live in an owner occupied principal residence, have a mortgage balance less than $729,750, owe monthly mortgage payments that are not affordable (greater than 31 percent of their income) and demonstrate a financial hardship. Servicers are required to consider an alternative modification approach that emphasizes principal relief.

The FHA refinance option provides more opportunities for lenders to restructure loans for some families who owe more than their home is worth. This is a voluntary program for lenders and homeowners and is primarily targeted to non-FHA borrowers refinancing into a FHA-insured mortgage. To be eligible for a FHA refinance homeowners must be current on their mortgage. This rewards responsible homeowners and creates stabilizing incentives in the housing market.

Total mortgage debt for the borrower after the FHA refinancing, including both first and any other mortgages, cannot be greater than 115 percent of the current value of the home. This will give homeowners a path to rebuild equity in their homes and an affordable monthly payment. Lenders must write down principal of the original first mortgage at least 10 percent to reduce the debt burden on borrowers and the loans may not exceed 97.75 percent of the value of the home. All mortgage debt including second liens must be written down to a maximum of 115 percent of the current value of the home. 

Under $100K - Dallas Home Deal Near Hollywood Heights. Motivated Seller!

Property Remarks: A 2 bedroom and 1 & half bath with wood floors throughout. Den could be a bedroom and front porch is enclosed. Large living areas, spacious kitchen, check out half bath in front bedroom closet ... a home with a lot of character. Hollywood Heights is just around the corner. An excellent opportunity to make this Prairie style your home. Motivated Seller! Listing Agent: Ghitta Torrico. Realty Firm: Ebby Halliday, REALTORS.

View more photos and details.
View more Dallas home deals at todayshomedeals.com

Plano Home Deal $30K Below Norm - 4/2.5/2 - 2,340' - $155K.

Property Remarks: Outstanding 4 BDRM, 2.5 BA, TRAD IN sought after W. Plano neighborhood. Tile foyer leads to 2 story den with CF, wet bar, WBFP, Pergo floor, windows to large backyard. Island KT has tile floor, designer wallpaper, oak stained cabinets. Master down has bath with whirlpool tub & shower, separate vanities, & WIC. High ceilings, youthful decor & great design! 3 upstairs BDRMs have CF's & nice closets. French doors from den to back yard. Listing Agent: Stephen Obenshain. Realty Firm: RE/MAX Dallas Suburbs.

View more photos and details on this Plano short sale.

View more Dallas short sales and Dallas foreclosures at todayshomedeals.com.

Plano Home Deal - Short Sale $99K, 28% BELOW AREA NORM.

Property Remarks: *REDUCED* The cul-de-sac w no thru traffic & open, airy floorplan are great pluses for this home. Breakfast bar opens into spacious gameroom. Needs some cosmetic TLC, so if you like to pick your paint & flooring, come on in! Large rooms, ceiling fans & French Doors. Lender approval required SHORT SALE. ShouldBfast response. Handyman Special. 2%+$1000 to Buyrs closing cost. Byr2verify all info. Listing Agent: Chris Taylor. Realty Firm: Sherlock Homes.

Get details on this Plano Home Deal.
View other Dallas home deals at todayshomedeals.com

Short Sales Transactions To Get Sped Up April 5.

By Troy Corman, t2realestate.com

On April 5, the federal government will begin providing incentives for lenders to complete more short sales in a more timely fashion. As part of The Home Affordable Foreclosure Alternatives (HAFA), the program will have banks order a BPO, or broker price opinion, on the home before it's put on the market for sale. Banks will then share with the sellers the net proceeds they are willing to accept on the property. If a buyer makes an offer that is equal to or greater than the predetermined bottom net proceeds the bank has agreed to accept, then the lender must accept the offer within 10 days.

Under the current formula, short sales often take from 3 months to a year to get completed. Keep in mind, that there may be other bidders on pre-approved short sales, so keep your contract as clean and as free of contingencies as possible.

Also, short sales often involve unpaid property taxes, homeowners' association fees and liens. So make sure you always get title insurance and make it clear that you're not responsible for any of those liabilities the seller has accumulated. 

To  view Dallas short sales and foreclosures, or Fort Worth short sales and foreclosures, visit todayshomedeals.com

East Dallas Home Deal - 4-Plex For $140K.

Property Description: Investors delight! 4-plex minutes close to schools, shopping and all major freeways. Each unit has 1 bedroom, 1 bath and kitchen with electric cooking. Bring your repairs ideas and make this an income producing property! This is a Fannie Mae HomePath Property. Purchase for as little as 3% down! This property is approved for HomePath Renovation Mortgage. 3.5% buyer CC if closed by 4-30-10. Realty Firm, Waller Group. Listing Agent, Logan Waller.

To view, or submit offer, contact todayshomedeals.com or call 214.827.1200.

Lake Highlands Home Deal - $60K Under Market Value.

Property Remarks: One owner, custom built, well maintained traditional in Merriman Park attendance area. House needs cosmetic updates, but has two recently replaced ac units. Open flowing floor plan, with huge rooms. Master suite is split on the front of the house & overlooks side courtyard. This home wil work well for two families needing to live together. Den, two bedrooms and bath are split from rest of house, but open off the kitchen-breakfast area. Listing Agent: Peggy Hill. Realty Firm: Nathan Grace Real Estate, LLC.

View more details.
Reduce your closing costs at todayshomedeals.com

Plano Foreclosure Home 3/2.5/2 - 2068' At Only $123K.

Address: 6945 HICKORY Plano, TX 75023-2044

Bedrooms: 3

List Price: $ 123,000

Baths:2.1

Price/Sqft: $ 59.48

Sqft: 2068

Avg. Price/Sqft: $ 81.83

Year Built:1991

Below Normal: $ 46,232 (27%)

Property Remarks: Foreclosure!!! Home to be sold, As-Is. Great location, close to everything. Covered patio. Front entry garage. Kitchen has island and opens to family room and formal dining room. Game room overlooks formal areas. Master bedroom suite is upstairs.  Listing Agent: Michael Webb. Realty Firm: RE/MAX Premier Properties I.

View photos and details.
Get closing costs reduced with todayshomedeals.com

3/2 Henderson Avenue Area Foreclosure Home For $140K

Charming house in sought after Vickery Place! Set on a tree shaded lot this home features 3 bedrooms, 2 baths, hardwoods, fireplace, lots of light and a large backyard! Seller is countering with ZERO inspection day. The inspection report has been posted to MLS media.Property is now committed to an Auction and all Auction terms apply. Please visit www.auction.com for details. Listing Agent: Logan Waller. Realty Firm: Waller Group, LLC.

View photos and details at todayshomedeals.com

Highland Park Home For $495K.

Address: 4521 Mockingbird HIGHLAND PARK, TX 75205-2619

Bedrooms: 3

List Price: $ 495,000

Baths:2.0

Price/Sqft: $ 242.77

Sqft: 2039

Avg. Price/Sqft: $ 323.67

Year Built:1935

Below Normal: $ 164,959 (25%)

Property Remarks: YES IT'S ON MOCKINGBIRD but look at the price and what you get!This hm has been updtd!The kit has all the bells &whistles grnite c-tops to stnles GE Profile appl incl a gas range,honey hardwoods dwnst.The liv rm feat a lovely dental mold FP surnd & marble hearth, the dining rm has a built in cab for storage.The den has a wall of French drs leading out to a wd deck & landscp bkyd,2 car grg,cir drive & a long drway for X pking, Grt starter in HP! Listing Agent: Paula Scofield. Realty Firm: Ebby Halliday, REALTORS.

View details and more photos at todayshomedeals.com

Dallas M-Street Home Under $300K. 3 Bed. 2295 Square Feet.

Outstanding drive-up appeal with Austin stone. Inside, DO YOUR OWN UPDATING AND SAVE BIG. Similar size house one block away, after updating, sold for $449,000 in July. Hardwoods, 3 bedrooms, each with its own bath...perfect for housemates! Master suite up with private bath and sitting area, flagstone patio, huge front yard with mature trees, zoned HVAC, new paint in 2008, new garage door in 2008, master bath updates in '08. Listing Agent: Robert Blackman. Realty Firm: NXT Home Realtors.

View more photos and details at todayshomedeals.com

Today's Home Deal - 7200 Stoddard, Plano, Tx 75025

This Plano foreclosure is a great home with potential. Open floor plan with Formal dining. Large backyard with open patio. Quiet neighborhood. Close to amenities. To be sold AS-IS. No disclosure or survey on file. Buyer to verify all information. All foundation, brick work and sheet rock reparis made! Ready for buyer to make own cosmetic repairs and priced accordingly. Listed by Kelly Boulton, Ebby Halliday Realtors.

View more details on this Plano home deal priced $50K below the norm at todayshomedeals.com

Today's Home Deal - $40K Plus Below Market - 4007 Calculus, Dallas, TX

Updated home in great location across from school and close to major highways! Home features brick fireplace, double oven, tiled floors, built-ins, study, lots of light and is fully applianced! Purchase this property for as little as 3% down! This property is approved for HomePath Mortgage Financing. Realty Firm, Waller Group, LLC.

View more photos and details.
Save up to $3K in closing costs with todayshomedeals.com.

Today's Home Deals - Frisco Home For Sale - $30K Under Appraised Value.

PRICED $30K BELOW APPRAISED VALUE. GORGEOUS two story home in Grayhawk of Frisco. 4-2.5, 4Living, 2Dining, 2Car with Fireplace and endless backyard potential. Subdivision HOA amenities include hike and bike, playgrounds and a community pool. Kitchen features island, ceramic title, ceramic backsplash & black Whirlpool appliances. This is the LOWEST priced 4Bed, 2.5Bath home in a 5 mile radius within the city limits of Frisco.

View more photos and details.

Save up to $3K in closing costs with todayshomedeals.com!

Today's Home Deal - 5645 Bryn Mawr - $499K - Devonshire Area, Dallas, TX.

Posted by Troy Corman, todayshomedeals.com

This is priced to sell. At $186.68 a square foot, it's priced well below the neighborhood norm - prices are generally in the $250 a foot range. 4 beds, 3 baths, 2-car garage with 2673'. Lot is 70' x 126'. Contact todayshomedeals.com if you'd like to take a look and get closing costs reduced. 214.827.1200.

View 5645 Bryn Mawr property details

Today's Home Deal = Today's Duplex Deal Under $144K! In Lakewood!

By Troy Corman, todayshomedeals.com
Dallas Duplex that needs work in desirable Lakewood area of Dallas. Lot is 50' x 150'. I looked at this one yesterday. Has hardwoods throughout, but needs quite a bit of TLC. The dirt is probably worth more than the asking price on this Dallas foreclosure. Could be a great long-term hold or a possible conversion to a single family home. Contract deadline is Monday morning. Let us know if you're interested in taking a look and getting closing costs reductions. Call todayshomedeals.com at 214.827.1200.

How To Finance Investment Homes In Today's Lending Environment.

By Troy Corman, todayshomedeals.com

Tighter lending standards now require investors to put down 20%  on investment property. This will eat up an investor's cash in a hurry. However, there are a couple of strategies to get around this current dilemma.

One way is to buy investment real estate that needs rehab. In this case, we would aim to buy real estate and rehab it for 70% less than it's after repaired value, or ARV. A few banks and mortgage companies specialize in these investor loans. These loans are referred to as rehab loans, construction loans, or hard money loans. These are unconventional loans that are not backed by Fannie, Freddie, or guaranteed by the FHA. They are typically due in 6 months to a year.

Step 2 - after we complete the rehab, we then refinance the investment property into a conventional fannie mae or freddie mac loan so we can pay off the original rehab loan - which usually come with high interest rates, so we want to get out of those rehab loans as quickly as possible.

So as an example, let's say we buy a home with an after repaired value of $100K. We purchase it for $60K and spend $10K rehabbing the home. Thus, we get a rehab loan for $70K (70% of the after repaired value of $100K). So we've basically bought a home that needs some work for no money out of pocket other than closing costs. Once we refinance into the conventional long-term loan, we'll have to pay more closing costs, but you can see how we could pick up investment homes for $5K-$10K out of pocket - even in this tight lending environment.

Another strategy for those that are a bit flush with cash. Put cash into a bank and have an agreement with the bank that they are going to give you lines of credit for the cash you hold in their bank. Then, instead of using that cash to pay cash for a home - you use the line of credit to buy an investment home. This reduces your closing costs and finance charges, and gives you the same advantages that those that pay cash for homes enjoy - except it's easier to refinance more quickly into a conventional loan.

These are a couple of ways to continue to create wealth even in uncertain times. Remember, great challenges bring great opportunities. So get ready. 2010 is going to be ripe with investment real estate opportunities for those that are ready, willing and able, to take the tiger by the tail!