Scott Yancey – A Real Estate Authority

Scott Yancey is one of the resounding names in the real estate world. He is a real estate authority who became known worldwide because of his reality TV show, Flipping Vegas. He and his wife Amie purchase and flip distressed houses in Las Vegas. He is the sole investor in every project he flips. If you are a flipper, you will surely find his TV show interesting. Every episode is a race to making a profit.

Scott’s interest in the real estate

Scott Yancey’s interest in the real estate started at a young age. His grandfather is into real estate, and he attended one of the weekend’s open houses of his grandpa. When he grew up, he became a runner in a real estate firm. His enthusiasm and love for his craft were noticed by his boss, Walter J. Plumb III. From just being an assistant, he became a full-time real estate investor. He quit school and in a matter of two years, he was able to create his own real estate firm, The Goliath Company. His years of experience in the industry has made him experts in the various field of real estate, be it house flipping, wholesaling, land buying, and so on. He partnered with Walter and Jon in some real estate projects. Scott treated them not only as boss and co-investors but also mentors and friends.

The real estate investment trend

Just like fashion, real estate investing strategies change with the changing of the market trends and socioeconomic condition. Scott has stopped for a while until he sees the perfect opportunity to start investing again and this time in the form of flipping. Rehabbing, flipping, and holding properties have become effective strategies and Scott and wife Amie seen these as fantastic profit potential. They focused on the real estate properties in Las Vegas as well as other cities all over the United States.

Finding and flipping properties offer a lucrative profit. In Scott’s TV show, Flipping Vegas the actual rehabilitation and renovation process give flavour and spice to the show. Scott’s restoration approach and his attitude and character have caught the attention of the A&E Network. Scott Yancey being a man with entrepreneurial spirit decided to become not just the star but also the executive producer of the show, Flipping Vegas. He teamed up with Amie, his wife. So, the show became a “husband and wife” reality TV program. They work hand in hand to turn dilapidated properties into something beautiful and investment worthy. Their show became a big hit and garnered overwhelming response season after season.

Scott’s other ventures

Aside from being a famous TV show and a successful real estate investor, Scott Yancey has taken other ventures too. Despite his bold and loud character in Flipping Vegas, Scott is a man with a good heart. He partnered with a non-profit charitable group that provides a home for people who have sustained injuries while serving the country in the battlefield. Yancey wants to help others not just have a home but makes a living in the form of real estate investing. He joined forces with the real estate industry’s leaders, and together they share their knowledge and inputs about real estate investing.

Yancey is an author too. He has successfully published a book entitled “Go Time” in 2012. It teaches you how to make insane money in the real estate market. If you want to follow the path Yancey takes throughout his real estate journey, then you should read his book. It contains his real estate strategies and tactics, the steps he takes to become an expert in the field of flipping, and real estate knowledge in general. After reading his book, you will be motivated to make money work for you.

Success does not come easy. Did Scott committed mistakes along the way? Yes! Did he stop? No! He will tell you that in the real estate industry, you will never run out of deals to make. There is always a deal waiting for you. The problem is not making a deal but how to make money work for you. This is what every real estate investor should know. It is important for you to know and understand what you are doing. Without knowledge and skills, you will surely let the opportunities pass you by, deal after deal. If you know what you are doing, you can always make money regardless of the market condition.

The success that he is enjoying right now has enticed him and wife Amie to teach and mentor other aspiring real estate investors. As a matter of fact, Amie and Scott have been a big help not just to newbies but also to seasoned investors who want to hone further their knowledge and skills in the real estate. They are offering the Yancey Events, a program that provides educational training conducted not only by them but also by other successful real estate investors.

Their goal is to help neophyte get started in the real estate investment world. The training is not just exclusive to Americans, but also for people from other parts of the world. As long as you are interested in the real estate, and you got the entrepreneurial spirit, then you can surely find Yancey Events helpful to you. There is no better way of learning the ins and outs of the real estate than to learn it from the real estate authority himself, Scott Yancey.  Visit Scott Yancey’s website or watch some of the reviews of his events below.

Watch Scott Yancey Event Reviews Below

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Refinancing a Mortgage: What You Need to Know

Refinancing a mortgage is an act of paying off the existing loan and replace it with a new one.  There are various reasons why you consider refinancing your mortgage which we have listed below.

Reasons Why You Should Refinance Your Mortgage

Lowering the interest rate

The interest rate on your mortgage significantly affects your monthly mortgage payment. If the interest rate is low, then your monthly mortgage payment is also little. Refinancing is good, especially when your credit score has improved or the market condition is favorable. Once the interest rate is low, you will be able to build your home equity quickly.

Adjusting the length of mortgage

Many borrowers opt to refinance because they want to adjust the length of their mortgage. Others want to increase the term of their mortgage so that they can bring down the amount they pay every month. On the other hand, there are people who prefer to decrease the term of their mortgage because the interest rate is low, plus they get to pay off their loan sooner. However, with a reduction in mortgage term, your monthly payment increases.

Change the adjustable rate mortgage (ARM) to fixed rate mortgage (FRM)

With adjustable rate mortgage, your monthly payment changes depending on the market condition. It can decrease or increase. If you are not comfortable with adjustable rate mortgage, then you should consider refinancing so that you can avail a fixed rate mortgage. By doing so, you can efficiently plan your finances because your monthly mortgage payment remains unchanged throughout the life of your loan.

Getting cash from the home equity

What is home equity? It is the dollar value difference between the value of your home and the remaining balance you owe on your mortgage. If the equity in your home has built up over the years, you can refinance for an amount greater than what you owe. You will be able to receive money from the difference in a cash payment. A lot of borrowers do this when they need money for certain purposes such as home improvement, hospitalization, and the likes. Getting money from the home equity is popularly known as cash-out refinancing.

Although this can be an enticing option, you have to be aware that when you take out the equity in your home, you own less of your home. Your home equity will build back up, but it takes time. If you wish to sell your home shortly, you will not be able to generate as much money after the sale. If you need cash, then you might want to consider other alternatives. Other than cash out refinancing, there is also home equity line of credit, home equity loan, and the likes.

Are you eligible to refinance?

To find out if you qualify to refinance or not, you have to go through the same approval process with your first mortgage. A lot of important factors should be considered such as your credit rating, income, assets, existing debts, the current value of your home, and the amount you want to borrow. You will be approved and even get a lower rate if you have an outstanding credit record. On the other hand, if your credit rating is low, you can still somehow qualify, but the interest rate is high.

The loan to value ratio is also one of the essential eligibility requirements. The lender will compare the amount you want to borrow and the current value of your home. If it does not meet the lending requirements, then there is a small chance that your request will be approved. Some lenders will grant your application, but the terms and conditions are less favorable.

Shopping for a new loan

When planning to refinance your mortgage, it is important to shop around so that you will be able to get the best financing deal. Other than your current mortgage lender, there are other lenders out there who will be more than willing to offer mortgage refinancing.  Shop around, make a comparison and do not hesitate to negotiate. Your negotiating skills can help you save not only hundreds but thousands of dollars. When shopping, make sure you get a copy of your credit report as it is one of the important things the lenders checked when applying for a loan. You have to make sure that the information is correct. Choose at least three lenders and compare their terms and conditions. Do not hesitate to ask questions, especially with regards to the loan features. As much as possible, you should request quotes, compare and study the figures for you to find out which lender offers the most favorable deal. It will also help if you are going to ask help and advice from somebody who is an expert in mortgage loans such as a mortgage broker, a lawyer, and other related professionals.

Refinancing with Freedom Mortgage

Learn more about the products and services at Freedom Mortgage.

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