Grant Trevithick Real Estate Pro Tips

   Grant Trevithick Real Estate Investor here with another pro tip. Today I want to talk about what the process is to actually buy a home. Whether you're in Dallas, Fort Worth, Irving, Addison, or any other part of Texas this advice is for you. If you live outside of Texas 90% of this will apply to you, however, I always encourage you to reach out to a Real Estate agent in your area for proper guidance. Buying a home is one of the largest financial decisions a person will make. Most banks offer home loans to their customers, but some may require a customer to have sufficient income to cover monthly payments on the home loan. A bank may also require that the buyer have good credit, which limits the number of buyers that qualify for a house loan. In this situation, a buyer's bank may offer financial assistance to his or her business in exchange for using its financing. In these instances, a buyer may be able to obtain a home loan without having sufficient income or good credit. ...

 Grant Trevithick here. Today I want to give you some pointers to make sure the home you just bought is not a "Money Pit". Almost 30 years ago Tom Hanks and Shelly Long made an entertaining comedy called "The Money Pit". It was one of the very few movies based on real estate. No specific spoilers here, just know that challenge after challenge after challenge after challenge happened after the purchase. I will tell you, that like most movies made in the 80"s, it did have a happy ending.  Here's a few things to look for to make sure you don't go through what they did... Not everybody wants a swimming pool, but if you do, it doesn't cost much to make sure the one that is with the home you are considering is in good shape and clean. Fixes on the backside can add up quickly so make sure to have a pool company take a quick look for concerns. Another hint about doing this is that you will probably want a pool company to do some regular upkeep on the pool.....

  Grant Trevithick Carrollton Real Estate Investor here with another pro tip on how to avoid balloon payments and other mortgage pitfalls. Using a balloon payment with owner financing can be a valuable addition to a mortgage note or land contract. In all my years of experience selling homes through out Texas I've seen many sellers and buyers unknowingly combine a balloon payment with high risk factors turning a positive into a negative. Be sure to avoid these common pitfalls when considering seller financing with balloon mortgages. These risk factors will generally make it harder for buyers to refinance when the balloon comes due making delinquency or foreclosure more likely for the note seller or note buyer: Extremely Short Term – A balloon payment due less than three years from the date of sale can be viewed as a negative. The buyer needs sufficient time to address and fix any issues that might have disqualified them from a traditional home mortgage loan at closing.  No Down...

This message is of great importance to investors in real estate that work in the seller finance arena. If you are now, or are considering becoming an Owner Finance investor take a look.  One of the fundamental rights of real estate ownership is the ability to sell your interest in it. If you've bought a house from a previous owner, even if he's financing it for you, it's yours to sell. Generally, the only limitation on your right to sell would come from a lockout clause or prepayment penalty in the financing, just as would happen with a similarly written mortgage from a traditional lender. Doing Real estate in Carrollton, Fort Worth, Addison, Dallas, and all throughout Texas, the laws can vary so it is important to check with your local municipality to make sure that the contracts you are using encompass this type of event. Now as far as it comes to Grant Trevithick and the Real Estate Investing I have done, I can only speak from experience and want to encourage you to do f...

  Grant Trevithick Carrollton Real Estate Investor here with another pro tip. Today we are discussing some of the pros of buying a home using owner finance versus renting. There are several reasons why buying a home using owner financing might be a better option than renting here are just a few of them: Building equity: When you rent, you are paying someone else's mortgage, which means you are not building any equity in the property. When you buy a home using owner financing, you are making payments towards the principal of the loan, which means you are building equity in the property. Potential for appreciation: If the value of the property increases over time, you can benefit from the appreciation when you sell the home. This is not possible when you are renting. No shared walls. Neighbors can become your best friends over time, but it's more likely when you don't need to listen to their music, fights or snoring at night which is common when renting. They say you can choo...

  Grant Trevithick Addison Real Estate Investor here with another pro tip on the dos and don'ts of buying a home. Do... look at the neighborhood Look at the house, but also look at the neighborhood. Location is the most important thing, so it's critical to look at more than bricks and mortar. How can you choose the right community? Become a neighborhood detective. Figure out what you're looking for, do research and find a neighborhood that fits your description. Do... look at several houses before you buy. Buying the first house you look at it is kind of like marrying the first person you go on a date with -- not necessarily a good idea. If you buy a home without comparing it to other listings in the area, you're likely to overpay or miss out on a great nearby home. Walk through at least three homes before you choose. If you still love the first one you saw, make an offer! Do... invest in a professional inspection. Sellers don't always disclose the whole truth to po...