Guest speaker Susanne Novak will explain why
• HUD Homes sell like "hot cakes" in today's market.
• How to find HUD owned properties online,
• How you can analyze the property without leaving your home,
• Why HUD Homes are superb deals for investors and owner occupants, and
• How you make an offer to buy a HUD home.
Based on a number of recent HUD home sales, Susanne will demonstrate what kind of discounts HUD has accepted, and explain the best bidding strategies for getting your offer approved.
Brent Diebert & Brian Hitchcock of The Arlington Bank will explain available Tax Credit for 1st time Buyers

$8,000 federal Stimulus and why you don’t need to wait til next year for the rebate
How you can get an interest free “cash advance” on the stimulus money to use as down payment
How you can receive a tax credit of up to $2,000 every year you have your mortgage on your 1st home

We can walk you thru the steps and even qualify you on the spot for this little know tax credit

This is a duplicate of the last meet-up.

FHA program changes that are upcoming 1 October 2008 that will have a huge impact on buyers, sellers and realtors.

The $7500 federal tax credit, how to get it, how it works and who qualifies. How investors and builders can market it.

Mortgage Bond Money for first time home buyers, how you can get it even if you already own a home and how to make sure a home you are selling qualifies.

As always, there will be an open discussion on whatever topics arise. I hope to see you there.

Brian Hitchcock
BrianHitchcock@ArlingtonBank.com
614-260-5537

This Meeting will focus in on Rehab Projects:

Starting with where to locate deals, how to determine
current value, how to determine after repair value,
obtaining financing and making an offer.

We will look at types of rehabs and the pro's and con's of
each.

We will delve into the problems that we've hit and find
solutions.

We'll conclude with long term plan or exit plan, how to
keep or how to sell effectively.

There will be time to show off your personal projects and
offer them up to the group as well as a very short update
on the state of conforming loans.

We will look specifically at the hurdles that each real estate buyer is facing. From "I can't find the first property", " I just hit 10 and can't get a loan" to "how can I keep aquiring and still manage the 50 I own?"

We'll let that run as long as there are questions, then open up to general questions and problem solving.

I will review the new Fannie Mae Guidelines and how they effect borrowing in 2008.

Lastly, if you have property for sale, rent etc. the floor will be opened up to attendees. Items presented here will be e-mailed to several groups, so plan to attend.

It has been a crazy, busy couple of weeks, I am so sorry that we did not reschedule the last meeting yet.

I added to the identification and valuation part of the discussion an aquisition topic. If time and interest allow, we can get into the machanics of aquisition and some steps that should be taken each time you buy. We'll look at resources to find property and what to avoid when being pitched a property from another investor. Most importantly we'll discuss value, what drives it and how to determine what the "Fair Market Value" of a house is and, more importantly, what it will be after repairs.

I will block out two hours of time for this meeting since we easily filled one last meeting. It is fine to stay only as long as you want to.