Veterans Chamber of Commerce

By Joseph Molina www.vccsd.org

Benefits Of Investing In Real Estate With Family Members

THE NEW TREND

There is no doubt that real estate is one of the most popular and profitable investments that have a great deal of potential for success when done correctly. You don’t need any luck to win money in real estate; there is no magic formula. It’s all about studying a potential investment before making any decisions. Aside from that, you should also understand the short-term and long-term benefits of real estate if you want to succeed.

You Can Generate Passive Income

You can generate nearly tax-free passive income by investing in real estate. Even when you are sleeping, your rental properties will make money for you. Instead of spending all of your time working, you can purchase several rental properties that generate enough income to cover your expenses.

You Can Help Provide a Home for Others

One overlooked benefit of real estate investing, specifically residential real estate, is the pride in helping provide a home for others. Everyone needs a roof over their head, but not everyone has the upfront resources to purchase a home, which makes renting the only other option for them. We often hear about landlords shirking their responsibilities and making living conditions downright nightmarish for their tenants. By investing in residential real estate, not only are you helping house a family, but you’re ensuring that the family is housed in safe, healthy, clean, and fair conditions.

Appreciation Planning in Real Estate

Whether you are already in real estate investment or are just starting, you understand that real estate is not a short-term investment plan. On the contrary, the benefits of investing in real estate include the appreciation of capital assets (a.k.a. land) over time. In other words, your property’s value will be worth way more 30 years from now, hence why investors are in it for the long run.

Long-Term Financial Security

Owning a rental property can afford investors a sense of security because of the property’s appreciation in value over time. This means that your property’s value is most likely going to increase because land and buildings are appreciating assets.

Invest When and Where You Want

Investing in real estate is a numbers game. It’s easier to pick and choose when you have an investing strategy to follow and an end game in mind. While you shouldn’t fall victim to ‘analysis paralysis,’ there’s also no reason to jump at the first deal that comes along. Instead, wait for an opportunity that makes sense, then seize the day by sealing the deal.

Equity Sharing Options with Family members

The equity sharing model is an increasingly popular way for investors to reap the rewards of investing even if their time or funds are limited. In such arrangements, new investors can team up with time-strapped investors who like funding smart deals. It may benefit any investor to participate in equity sharing. The ability to find excellent deals is incredibly valuable for those attempting to break into REI. There will always be dealfunders available for those who find deals. A situation in which two or more investors work together to afford, finance, and purchase an asset may be called equity sharing. Everyone involved in sharing equity has an interest in the property. Family members sometimes use equity sharing to help transition mortgaged homes to the next generation.

Equity sharing may be used to:

• Divide costs of property and improvements

• Divide all profits/losses

• Get people in on the same deal with minimal hassle

• Allow one investor to live in the home (with the goal of paying off the mortgage)

• Develop short or long-term plans for the asset

Nominate a Hero: The National Veterans Chamber Radio Show

• Would you like to share your story? Then, be our guest on the show — here is the REQUEST FORM. https://www.vccsd.org/radioshow.html

• If you have any ideas or a project that you would like to develop email us at veteransccsd@gmail.com

* Disclaimer: This is for informational purposes only and based solely on my personal experience. Make sure you contact a qualified Attorney to actually create living trust for your family.

Real Estate Tips for Veterans & Active Military

By Michelle Muniz www.sdsellhome.com

Mortgage Broker vs Lender: Which Should You Choose?

As mortgage interest rates continue to climb, you may be wondering how to access the best rates available to finance the purchase of a new home. Should you go to a mortgage “broker” or “lender”?

First, the difference between a mortgage broker and a lender is that the broker is a liaison that helps coordinate a loan between the bank and the borrower. The mortgage lender is the financial institution that funds the loan which is why they are also referred to as the “direct lender”

There are pros and cons to working with each:

Mortgage Broker Mortgage Lender

Pros

Options and flexibility: Brokers do the legwork for borrowers to shop a variety of products.

Discounted rates: Brokers shop multiple lenders to find you the most competitive rates.

Convenience:

One application can be used for multiple lenders.

Cons

A limited network: Borrowers may miss out on offers if brokers don’t work with certain lenders

Additional fees: Brokers are compensated on a fee-based schedule which is added to your closing costs.

Pros

Familiarity and trust: Working with a lender you know may give you peace of mind.

Relationship based: Lenders may offer special products for existing clients. Better fees and processing: Lenders may have lower fees and faster approvals.

Cons

Limited selection: Buyers can only shop the products the lender offers.

Stricter underwriting:

Conditions for approval may be geared toward well qualified buyers.

Inconvenient: If you don’t qualify, you must restart the process with another lender.

Serving Veterans and their Families!

The San Diego Veterans Coalition was organized in 2009 and using the Collective Impact Model, SDVC is a premier San Diego County-wide monthly convener of over 160 unique member and participating organizations, businesses, and agencies. The Collective Impact Model is based on leveraging relationships with other veteran and family serving organizations so that we may provide veterans and their families with a complete array of services and other opportunities.

The purpose of the San Diego Veterans Coalition (SDVC) is to serve the needs of San Diego regional Veterans, their families and significant others. We intend to improve collaboration and coordination among community service providers so that delivery of services is more comprehensive and Veteran Family-centric.

The vision of the SDVC is to honor the nation’s commitment to veterans, their families and significant others by leading collaboration among all potential partners, making the San Diego region a national model for a comprehensive, integrated system of community services.

The SDVC is a catalyst that inspires collaboration and cooperation among service partners to deliver premier support for Veterans in the San Diego region.

At the SDVC we have found that collaboration is the key to addressing the needs of San Diego Veterans, their families and significant others. We have four Action Groups:

• Physical and Emotional Health Action Group (PEH)

• Family Life Action Group (FLAG)

• Veterans: Empowered, Successful, and Thriving Action Group (VEST)

• Education, Employment, Entrepreneurship Action Group (E3) www.sdvetscoalition.org

Through these Action Groups we are identifying gaps and creating measurable outcomes to resolve them. These groups are made up of our members and together we are working to strengthen our community.