Mortgage Lending for Investors

Mortgage Lending today feels like a mountain to climb.
Let me make it easy for you to close a home loan.
Here are a number of things Caroline Gerardo at W J Bradley Mortgage Capital can do that
makes me different than your bank or your mortgage broker.

Conventional  Jumbo and Super Jumbo Purchase and Refinance

Investor purchase and refinance quickly. Purchase and close in fifteen days.Refinance and close in thirty days.

5-10 Financed Properties for Investors

Cash out Refinance for Investors who bought REO foreclosures and distressed properties in the past six months, no seasoning required to get the appropriate ( loan to value per guidelines) cash back return on investment when investor is holding property, even short term hold to flip

Quick response any time you need

Purchases close in 15 days – no bank slow boat to nowhere

Refinance close in 29 days

Credit repair referrals and free tips to raise FICO

Construction experience, eye for curbside appeal, analytical view of real estate investment.

 

 

Laguna Beach Community Garden

windmill used to scare birds for organic gardening

Tiny scarecrow made of corn husks

 

The use of the South Laguna Beach Garden Park property was graciously donated by the current property owner, but recently the land has been put on the market for a list price of $ 1,200,000.00

The South Laguna Beach Civic association is trying to raise funds to purchase the land. Owning the property will preserve the Garden Park for future generations. This community garden is a gathering place for neighbors. There are thousands of community gardens across the United States. They can provide organic produce, open space to enjoy and have neighbors work together.  A fundraising program is underway to buy the land.

Tax deductible contributions can be made through

Charitable Ventures of Orange County, fiscal sponsor

Christmas ornaments used in photograph to keep birds from harvesting the vegetables

 

 

31616 Coast Hwy
Laguna Beach, CA 92651

Lot for sale, Lot size .28 acres Commercial Orange County, California MLS ID S706186

The lot is expensive because it is situated on Coast Highway in a heavy traffic location that is visible. The highest and best use of the lot is probably commericial. The lot has peek a boo ocean views

tax deductible contributions to:

South Laguna Civic Association

PO Box 9668 South Laguna, CA 92652

Write your check out to: “CVOC/South Laguna Community Garden Park”

Charitable Ventures Orange County (CVOC) is a fiscal sponsor for the South Laguna Community Garden Park Project

Would Laguna Beach Community Garden be able to qualilfy for a mortgage to purchase the land?
Probably not a conventional loan, but  maybe some benefactor might consider this.

Caroline Gerardo
NMLS#324982
W J Bradley Mortgage Capital LLC
Newport Beach, California

 http://mywjb.com/caroline-gerardo

Real Estate Investor

12 Tips for Real Estate Investors to Make Money

I can do Conventional  FHA VA Jumbo and Super Jumbo, Hard Money, Purchase and Refinance

Foreclosure for Sale Flip

Buy foreclosures and distressed properties rehab and flip or repair and hold for the market to improve?

·         5-10 Financed Properties for Investors

·         Understand Mortgage Underwriting and keep in contact with your lender. Having a lender that can do all kinds of loans, or knows where to refer you to the right source is valuable. If your credit is weak, I can give you tips to repair that or a referral to raise that FICO. Pricing on  Mortgage Interest rates are driven by FICO

·         Cash out Refinance for Investors who bought REO foreclosures and distressed properties in the past six months, no seasoning required to get the appropriate ( loan to value per guidelines) cash back return on investment when investor is holding property, even short term hold to flip

·         Investors can get cash back by refinancing with me in the first six months. In this market sometimes you have to close with cash to get the deal.

·         No bank overlays (extra requirements our government has on each bank that sells loans to Fannie and Freddie) Understand that Wells Fargo has different rules than J P Morgan Chase. Going to a bank is a middle man,  just as most mortgage brokers are middle men. Go to a mortgage banker who is direct.

·         Purchases close in 15 days if you have your paperwork all complete in advance of the offer– no bank slow boat to nowhere

·         Make your offer in person with seven day appraisal contingency

·         Refinance close in 29 days

·         Assume in any foreclosure you purchase it will need a new water heater and HVAC. Be aware of local planning permit laws about strapping water heaters and wiring for HVAC. Knowing the rules is important because your plumber of installer may not. Don’t use a 24 hour water heater service that charges more for the instant repair. Shop for water heater by size of existing space and compare prices.

·         Number one thing in purchasing investment property is the location. You can’t change or fix location. Check for blue ribbon schools in area, this is a great starting point for desirable location.

·         If you are going to rehab and flip, assume everything will cost 30% more than you think. Save the extra paint, parts, and supplies as you will need these for repairs later and the next project. Have a general theme of your design project: a favorite paint combination that matches with your finishes. Keep design simple, so a variety of people can see themselves loving the property. Be aware of curbside appeal to buyers. Pencil out your costs, time line and keep to the schedule. You may have to actually go pick up your laborers/ contractors to work your schedule. It is a great idea to network with others and compile a list of a great: plumber, dry wall guy, painter, the local wholesale landscape grower etc…

·         If you are deciding to hold the property, aim for a two year lease. It costs time and money to have vacancy. The types of finishes you choose for leasing a property should be durable and simple.

 The market in California has seen gains of 7% - 10% of median price. Don’t fall in love with one property and overbid. Keep shopping and making fair offers. I’ve seen offers that state $100 over anyone else’s bid. This seems risky.
My website: http://mywjb.com/caroline-gerardo/
 

Quick response any time you need call me and let’s brain storm on how you can make more money as a smart real estate investor.  Turn that house into a pot of gold. Photo shows an image of me taking this picture.

 Caroline Gerardo

NMLS # 324982

(949) 784-9699 cell

 

625 Seaview, Laguna Beach,

625 Seaview, Laguna Beach  California

Recently reduced

$1,249,000.00               3 Bedroom

This home is graceful and warm. It feels like you are on a cobble stone street in the Cotswold’s or perhaps on the rugged coast of Ireland. However, you can walk to a hundred different places for dinner and enjoy paddle boarding or sunbathing at Laguna Beach’s amazing water. The yard is quite charming. On one side of the home is a shower for getting that sand off from the beach, and green gardens. The front arched gate can close you off from the hustle of life and feel private as a castle on the moors.

 

Offered by Julie Locke please contact her directly

(949) 407- 8565

Julie@fitzpatrickprince.com

 

camellias and birdhouse

 shutters on windows

private fenced front and back yards

front fountain

large fireplace

modern  tile in shower

 charming upstairs with skylights

kitchen

has ocean view but was foggy

spot for reading in a sunny window

Hard scape in front yard with palm trees, banana, bower vine

 

21 Tennis Villas Dana Point

OPEN HOUSE DANA POINT

 

21 Tennis Villas Drive, Dana Point  (also known as Monarch Beach) California 92629

Condominium 2 bedroom 2 bath 1425 square feet Upstairs unit 250 degree ocean view. Two patios

$ 649,000.00

Darlene Kelly Realtor and Mike Kelly Realtor /Broker

CFL Properties, Clients for Life

(949) 413-6172   DarleneKellyCFL@yahoo.com  DRE# 01271308

 

Loan  $ 519200. 30 year fixed 3.75% monthly payment        $ 2295.36 ( APR 3.81% 2/1/13 rates change)

                                                                                                              Taxes     649.00

CAROLINE GERARDO
NMLS # 324982
rates change every day
this is not a commitment to len

                                                                                                        Insurance     90.00

                                                                                                            HOA          78.00

                                                                                                       Total payment $ 3112.36
2/7/2013 This Condominium in Orange County, California now is pending sale

Caroline Gerardo Contact

C G Barbeau
Caroline Gerardo Barbeau
NMLS 324982
(949) 784-9699
©️ copyright
 Licensed by the California Department of Business Oversight under California Law
Equal Housing Lender |
We are happy to advise you on home loans of all types.
We welcome your questions

Favorite Paint Colors: White

Clunch Farrow and Ball a warm sunny not yellow white Floral White Benjamin Moore a slight hint of creamy rose Swiss Coffee Benjamin Moore

Photoelectric Smoke Alarms

$12.99 Can save your life Buy Smoke Alarm here today

I had a devastating fire in my home in the West Nine Laguna Niguel, California in 2003. I returned home after work to find the yellow police tape lines around my front door and piles of charred wreckage. This incident has left me with a fear of fire during the night. Every month I test our smoke detectors and annually change the batteries before I put up the Christmas tree.

At Laguna Niguel preview today I learned valuable information from Bill Parker, of  Home Inspection Services that my older ionization alarms might not be good enough or fast enough to warn us to wake up and get out in a fire.

I purchased four photoelectric alarms today because they detect smoldering fire, and smoke much faster than the ionization type. They cost two dollars more. I’m suggesting you don’t throw away your older battery powered smoke alarms in each bedroom and each floor level, but add the photoelectric ones in every bedroom. California law requires sellers of homes to add carbon monoxide detectors. These can be mounted behind doors that are usual left open during the daytime to not have quite so many additional white plastic Frisbees in your bedrooms.  

You may have the type that is hard wired into the home’s electrical system. Smoke alarms are powered by battery or they are hardwired. If the smoke alarm is powered by battery, it runs on either a disposable 9-volt battery or a non-replaceable 10-year lithium (“long-life”) battery. A backup battery is usually present on hardwired alarms and may need to be replaced. You might need assistance in installing the newer hard wired alarms, but I’m pretty handy and there are videos on utube to do everything from install a new toilet to making rocket fuel. I am not suggesting you are a licensed contractor or have the skill set to take this on yourself, but it isn’t difficult.

These batteries must be tested on a regular basis and, in most cases, should be replaced at least once each year (except for lithium batteries).

A few tips on housekeeping:

Test the alarms monthly, Replace the batteries at least once per year. The entire smoke alarm unit should be replaced every 8 years.

The ionization alarms are sensitive to shower steam or cooking smoke where the photoelectric ones are not. Statistics on deaths in fires show that even though an alarm was present, often the unit did not sound off because of dead battery or disconnected alarm because of the constant screaming sound when they fry food, or their teen takes a thirty minute shower.

( In a smoldering fire, a photoelectric smoke alarm outperforms the ionization type by sounding much quicker.. The other reason is that ionization smoke alarms will outperform photoelectric alarms in the event of a fast moving fire. The faster reaction time can be measured in tens of seconds, but in the event of a fast moving fire, these are precious seconds. )

Smoke alarms are an inexpensive investment and can save your family’s life.

 

 

 

$549,000. Single Family Home Deal

 1950's single level single family home. I believe this is a deal as a two year hold because of the development occuring on both sides. This is an area of San Juan Capistrano that was once rural small family farms but today is a mixture of one and two million dollar ranch houses and commercial property. 32221 Del Obispo is directly across the street from Armstrong nursery and the old Cook's Barn (now gone) This has a large useable lot. Has some nice older growth trees in the front yard. Older hardwood flooring 3 bedrooms and one full bath, one sort of bath. 16200 square foot pie shaped lot.

Listed by Manuel and Judy here is more information: Manuel Adame MLS # s720598

http://www.ochomesonline.com/32221-Del-Obispo-San-Juan-Capistrano.html

 

Downfalls of the property:

Traffic noise as is fronted on a busy street with no curbs and gutters. Eventually one would expect the city will make the neighbor properties that have subdivision maps recorded put in the curbs gutters and sidewalks. City Planning may require the owners on both sides to complete it through... a major lawsuit was won by the neighbor against the city regarding installing drainage which is underway today. Subject house needs: new roof ( cost estimate: $9000- 10000) paint inside and out (cost $5000) french drain and grading to the rear of the house (estimate: $ 8000) one can assume as in everywhere in Orange County there are termites and dryrot (unknown total cost guess: $4500) I might also assume or guess that property will be off septic and able to tie in when the neighbors move their construction along. PS must love the sound of roosters in the morning :) $ 549,000. fixer house for sale Orange County California

 

chain link fence installed in front of failed wooden fence

Big driveway is gravel compacted. Two car garage

 

 

 

Rear yard. A small backhoe could widen this area, move the retaining wall back three feet, add french drain underneath to flow out around the house.  Gas lines appear to be in the front, but contact gas company and county for other lines

hillside slope of neighbor property

view of subject from up gravel driveway

 Roof view appears replaced in last couple years but there is damage indicating it leaks

another slope view

gas meter by mailbox

 

I love San Juan Capistrano. The house has a view of the San Juan Capistrano Valley, mountains and an ocean peek view. Old town San Juan has become charming and many historic houses have fabulous gardens and Spanish architecture. You can walk to trails, walk to Old Town or Main San Juan for dinner. This could be a charming single family home, with $27,500 it needs to make it comfortable, and $ 20000 in fountains and landscaping. OR hold it until the neighbors build the tracts with one to two million dollar houses next door. OR get a zoning variance to make it something commercial. I think it is a deal for someone with creativity. The bargain is in having $150000. cash for the 20% down plus the repairs needed.

 

Orange County California real estate deals as of 2/10/2013 this property is still for sale. Was in escrow and fell out.

10 Sendero Single Family Home $564900.

I met Missy Wiesen at her listing on at 10 Sendero, Rancho Santa Margarita, California. This home is a great buy. The curbside appeal is inviting with a three car garage and Italian columns to welcome you into the front door. The downstairs has warm laminate to feel like hardwood flooring. New paint, new carpet a gorgeous fountain built into the backyard. Four yes 4 bedrooms - pretty granite counter tops all priced at $ 564,900. Please contact Missy at her email realtormissy3@yahoo.com or her phone (949) 887-6644 her DRE license is #01745112 She will be holding it open house tomorrow - Sunday January 20th 2013

Go make an offer!

Easy HARP Refinance

sunset at beach boy with skim board

Refinance HARP is a Walk on the Beach With C. G.

Refinance for Upside down Borrowers

1.      Fannie Mae or Freddie Mac must own or guarantee the loan

2.      The mortgage MUST have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009, this means you most likely would have needed to close on or before May 1^st as it takes about a month to get there and there are no exceptions to the date.

3.      The mortgage CANNOT have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.

4.      No Loan to Value restrictions, no appraisal

5.      The borrower MUST be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months.

6.      You have a reasonable ability to pay the new mortgage payments, it must make sense.

7.      The refinance improves the long term affordability or stability of your loan, i.e.: the payments have to go down.

8.      If you have Mortgage Insurance it does not go away.

9.      No new MI policy however if say your loan has no MI

10. Have to show income on W-2 and Tax returns

11.  Cost upfront to find out: $ 24 (credit report $14 per borrower)

12.  CONDO’s are eligible and often NO condo certificate is required.

Call Caroline at (949) 784-9699

This is not a commitment to lend nor loan approval each individual is different, but these are pretty easy if you are employed and you made your payments. The idea is to save those who want to stay in their home and can make it going forward - not always so "easy."

Let’s look up your loan to see if Fannie or Freddie “owns” it and talk about what we can save you in monthly payments