Put Your Finances In Order - Part 1 of 9

I know that it can be rather stressing but believe me, you'll save money in the end. That is afterall what the goal right? Making your home purchase affordable!

I’m referring to your:

- Tax Returns
- Pay Stubs
- Checking Account Statement
- Savings Account Statements
- Mutual Fund Account Statements, etc.
- Copy of Your Credit Report (which I can give you for free along with an analysis of areas for improvement or how you can eliminate any errors reported)

Having these items ready will make it easier to locate the lowest rate and payment when you’re shopping for your home mortgage. [*Note: we'll talk about shopping around and the dangers of this later.] Be weary of advertisements offering the lowest rate. It’s similar to a Quest for the Holy Grail and all that really happens is you get caught treading water with the predatory loan sharks of the industry.

Now going back to your finances and your credit, it's a good idea to find out what your credit reports say about your financial history. It essentially gives lenders a look at how you manage your finances. To them, your credit report is what they use to determine your risk factor and ultimately your interest rate.

And if it's been awhile since you last looked, you might be surprised at the content of each report because errors are sometimes reported. There are ways you can clear up any mistakes.

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Thank You!

Ricardo Bueno - Residential Commercial Construction Investment Advisor

Building Wealth Through Real Estate

You can reach me directly at 323.810.2175

Decide On Your Needs & Wants - Part 2 of 9

Let's start by making (3) three columns...

Column 1 List "Must Have" Features:
- A specific neighborhood or school district
- (3) three bedroom or (2) two car garage
- Zoning restrictions ~ if you want to run a home-based business
- (1) one story or (2) story house
- Etc.

Column 2 List Features that "You Would Like":
- A deck or a swimming pool
- Whirlpool tubs or walk-in closets
- A particular type of architectural style
- Central air conditioning
- Etc.

Column 3 List Features that you "Do Not Want":
- A home next to a busy highway
- A certain type of architecture
- Homes that need too many improvements

Once you're done making this list, I would cross-reference this list with your significant other. And if you're lists don't match, it's time to start engaging in a little compromise until you're both in agreement.

Once you're both happy that you've reached an agreeable list, buying a home won't be so difficult since you know what you want. Now it's just a matter of consulting with your local Realtor to discuss the market in your particular desired area. And for that you can visit the Realtor's Corner. Remember, real estate is a localized market!
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Thank You!
Ricardo Bueno - Residential Commercial Construction Investment Advisor
Building Wealth Through Real Estate
I can be reached directly 323.810.2175.

Home Buying 101 | Key Steps in the Home Buying Process

Once you begin to understand all parts of the home buying process, you'll feel confident with all the requirements of those involved in your transaction, as well as yourself.


Home Buying Process Overview:


- Put your finances in order
- Decide on your needs and wants
- Familiarize yourself with the mortgage industry
- Get Pre-Approved for a mortgage- Working with Real Estate Agents
- The fun part - Finding A Home
- Tasks to accomplish before you offer
- Making an offer
- Home Inspections and other tests- Correcting or avoiding problems at the last minute
- Closing

Congratulations!!

And remember, don't ever hesitate to ask questions... whether this is your first home buying experience, or your 21st, it's important to be sure you understand the entire process!

Real Estate is your largest Asset and a Mortgage your largest Debt. So if you're looking to build wealth through real estate, learn to leverage the two appropriately.

The steps outlined here should serve you as a general guide.

And also note that every issue you encounter will be specific to your transaction. But every problem has it's solution. So remember, "everything you do has to contribute to a strategy!" - R.B.

For more on Building Wealth Through Real Estate, give me a call and let's talk! 323.810.2175

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Thank You!

Ricardo Bueno - Residential | Commercial | Construction Investment Advisor

Ricardo Bueno is a Mortgage Advisor & Team Leader with Wilshire Financial, Inc. A diversified mortgage brokerage located in Pasadena, CA.