Q: WHAT DEBTS ARE NOT DISCHARGEABLE?
With some exceptions, the following debts remain even after bankruptcy:
· Child support & alimony
· Student loans that became due less than 7 years ago
· Federal and state income tax obligations less than 3 years old
· Debts for restitution from criminal convictions and drunk driving
· Debts the bankruptcy court decides where from intentional acts, fraud or wrongdoing (e.g., lying on your bank loan application).

Q: WHAT IS CHAPTER 11 BANKRUPTCY?

Chapter 11 is reorganization for businesses and individuals with debts too large for Chapter 13. Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to any business, whether organized as a corporation or sole proprietorship, or individual with unsecured debts of at least $336,900.00 or secured debts of at least $1,010,650.00, although it is most prominently used by corporate entities.

For more coaching on How to Avoid Foreclosure

Originally posted 2008-07-07 10:56:46. Republished by Blog Post Promoter

Our eBook highlights “18 options to Avoid Foreclosure”, which we will be sharing with you through this blog. Please feel free to post questions and comments, it is easy to learn by studying, but it is through discussion that you begin to understand.

This is only one of the many useful sections of this 50-page eBook. If you are interested in picking up a copy of this coaching guide, please visit http://www.avoidforeclosurehowto.com.

Originally posted 2007-11-30 09:12:51. Republished by Blog Post Promoter

In the spirit of Halloween, I’d like to ask you a question…

Are you afraid?… afraid to make the leap into this wild ride called – (Oooh, dare I say it?) …

Real Estate Investing…

Are you avoiding making an offer? Are you thinking you won’t have the money if you did make an offer and it was accepted? Or what if you can’t find a buyer?

Wow – so many things can go wrong!

Well, if you are afraid- you are not alone. I’d like you to read on to see if there is anything I can say to help you move along with that fear to find the success and happiness I have found both financially and personally from real estate investing.

You notice I said move WITH fear…not get rid of the fear. If you wait for the fear to go away – you may never move forward. A lot of us are afraid to try something we have not tried before. What divides those who actually succeed from those that don’t is this… successful people don’t let that fear stop them.

Grab this free gift designed to help you keep moving!

I am typing this article from my customized, comfortable home-office. I love being able to have the flexibility to do this stuff from wherever  I am at….and today I’m at home. I will be here when my 11 year old daughter gets home. I will give her a hug, make her snack, ask about her day and help her settle in to her plans – then head back to my office – right upstairs. (Or maybe I won’t?) I have the flexibility to do what I want to do. This time freedom is one of the biggest reasons I love real estate investing. The flexibility it gives me to be in another state or at home….and my business moves forward. I can do it from anywhere!

I’d like to ask you a question why do you think so many people read articles like this, get on teleconferences, pay a lot of money for trainings and attend seminars about real estate investing?

Answer…
Because we want to learn the safest, quickest, easiest way to make money!

Exactly!

So do you want to make A Little money or A lot of money?

Answer:
A lot of money!

Now – the big question…Why do YOU want to make money?

• To acquire wealth for our retirement (Can’t depend on SSI)
• To accumulate for our children’s education
• To obtain financial independence (Hopefully before retirement)
• To enjoy a more affluent lifestyle – bigger house, cool car, travel, etc
• To give back to others in need

Any one of these could be reasons for wanting to make more money…or maybe you have other reasons.

This is the most important step of all steps you take on your path to profitable real estate investing (or any new endeavor).  You must know your reasons (or your goals) in order to stay on this path called real estate investing!  When you know your “why” you are able to keep your “eye” on the goal as you are doing the stuff it takes to become a wealthy real estate entrepreneur.

If you aren’t clear on your “why”…stop right now and make a list of what you want. Why do you want to profit from real estate investing?

Let your mind go crazy – step out of your comfort zone. If money and time were not an option – what do you really want?

______________________________________________________________________

Write down a list of what you would “DO-BE-HAVE”… if you had more money!

Go Here to grab this form created by Mark Victor Hansen. It will help you to drill down on your reasons… stretch your mind to really dream about what you and those around you will gain when you make money through real estate investing.

Knowing your “why” is the launch pad for your success…  Click Here to grab this form.

Now, Imagine Making Offers for Real Estate with a crystal clear picture of your much anticipated and deserved profits.

Stay tuned for my next few blog posts showing you how….

Click Here to receive an RSS feed to have these posts sent to your reader directly.

Have a safe and happy Halloween Weekend!

Tamera Aragon
http://www.MassiveProfits4REI.com

Originally posted 2009-10-30 16:35:32. Republished by Blog Post Promoter

“Without effort, you cannot be prosperous. Though the land be good, you cannot have an abundant crop without cultivation.”

Plato

Real Estate as a Path to
Wealth and Freedom

Forbes magazine lists the top 400 wealthiest people every September. In September 2007, 40 of the 400 people on that list made their billions specifically in real estate.  Many of these people started with nothing, some immigrants even, to move up into this category.  Real estate is definitely a path to be seriously considered in building your wealth.

Did you know that most of those 40 billionaire real estate investors are only doing their real estate part time?  And do you realize they can run their real estate investing business from anywhere in the world?  Freedom…  Just the sound of that word brings a smile to my face.  Real Estate investing offers you the freedom to make your own choices about how and where you spend your time along with who you spend it with.  Financial and time freedom is definitely something successful real estate investors enjoy.

“But what about the risks? you say? Of course for every “tit” there is a “tat”, for every high a low, for every good a bad.  Yes, unfortunately like any entrepreneurial venture, there are risks.  My husband owns a retail store and he risks every day that someone is going to trip and fall and sue him. He risks that he may not sell enough to pay his bills, etc.  I think you get the point.

However there are steps you can take to minimize your risks and maximize your profits.

Rule #1 – You Do Not Need To
Re-Invent “The REI Wheel”.

You will need to get training and have a mentor or coach, (or maybe several), in order to succeed. Even the best athletes in the world have a coach. Why? Because a coach will keep you on track. Don’t try to do it on your own. That school of hard knocks is going to cost you way more than good training and an experienced coach.  Chapter 5 goes into the criteria to look for when choosing a trainer or a coach so I won’t elaborate further here. Just know I believe this to be the first step in minimizing your risks and maximizing your profits.

Rule #2 – Do Your Due Diligence (or as I say, “Do the Due”).

Would you buy a car without checking the engine, tires, brakes, or interior? Would you marry someone without learning all you can about them and knowing their flaws and good things before you take the plunge?

I hope not!!

Then why do so many real estate “investors”  buy a property without doing the proper due diligence before they get into a contract?

Answer: Many simply lack the knowledge of what to look for in a property when considering it for investment purposes.  In other words, you don’t know… what you don’t know, right?

So here’s what you need to know. Before you ever buy a piece of real estate you should check it out from top to bottom so you know exactly what you are getting into. A little bit of work upfront will save you huge headaches and money down the road.

People often ask me, “What should I look for before committing to buy a property?”

There are two ways to make money in real estate. If the property is going to supply these profits for you, you would want to consider it.

1. When the property brings you cash flow from monthly rents while also appreciating.
2. When you make a profit re-selling the property through appreciation.

Now keep in mind, you can profit from appreciation two ways.

1. Market appreciation – the economy is causing properties to increase in value.
2. Forced appreciation -   when you either buy property cheaper than what you can resell it for or you can do some improvements to increase the value more than what you spend.

Here are Three Most Important Questions I ask myself before I consider a property for investing?

• Would we buy it for ourselves?
• Would we want to tell our friends and family?
• Is this a good deal for other real estate investors?

The most important outcome to consider is if the answer to this question is yes, “Will my money put into this property make me more money?”

I call what I do real estate “investing”, not real estate “divesting”.  You will always want to do the same.

How do you know if it is going to make money? You do your due diligence before you commit to buy any property.

Of course, as you know, there are never any guarantees in life. However, if you have certain criteria every property needs to meet in order to profit and how to evaluate a property for those qualities, the likelihood that you will succeed are much greater.

It’s very easy to get caught up in wanting to help people if they need to sell their house.  Or you may just personally think a property is good looking.  But those are not the only reasons you would want to buy.  To avoid getting emotionally involved in a property purchase, I have created a due diligence checklist.

I have provided a tool that has saved many people from both passing on deals they should take as well as taking deals they should pass.  I took from my own trials and errors & created a checklist – The Real Estate Investing “Before You Commit” Due Diligence Checklist. I also have created checklists for all I need to do after I decide to buy a property, another list of what to do while I own a property and another list for what to do when I am selling a property. My students have full access to these as well as 775 other support documents.

If you would like to grab The Real Estate Investing “Before You Commit” Due Diligence Checklist for yourself, I have made it available when you login at www. MassiveProfits4REI.com as a free gift. Feel free to download it.  Keep in mind every one of those 50 due diligence items on that list do not need to be followed on every deal you consider. However, it’s a great list to follow and assure you have remembered to consider all that can affect the outcome of your purchase.  Your due diligence makes all the difference on whether your purchase of property brings you a profit or a loss.

To Your Massive REI Profits,

Tamera Aragon

Feel free to link to or republish this article but only if the article is kept in its entirety.

Originally posted 2010-02-18 14:38:55. Republished by Blog Post Promoter

(Available on a very limited number of VA loans with lender and/or investor approval) (Called Recast for FHA)
Definition: A restructuring of loan that could result in a lower interest rate, extending the term of your loan, thereby lowering your monthly mortgage payments.

If you have incurred a long term financial hardship and can afford a new agreed upon payment, this might be an option for you. A loan modification is a permanent change to your mortgage. There are costs and fees associated with a modification that you will be responsible for. All property taxes must be current or you must be participating in an approved payment plan with your taxing authority to be eligible for a modification. Any additional liens or mortgagees must agree to be subordinate to the first mortgage. All requests are subject to your lender’s approval.

A loan modification is easier to arrange prior to the Mortgage Company filing a foreclosure lawsuit. Some lenders will not consider this after filing, but it’s worth trying.

For more coaching on How to Avoid Foreclosure

Originally posted 2008-06-24 11:53:22. Republished by Blog Post Promoter