Gerald’s Article Insights: Home Equity And The Five-year Rule

It’s a good idea to have at least one exit strategy when you buy any asset especially one as expensive as a house.  Nobody can predict the future, but you can and should think about how you would deal with a job transfer, job loss, an extra mouth to feed or some other unexpected life event.   If you had to sell, do you have enough money to pay closing costs and transfer fees?  Would you be able to rent your property if you needed to?  If so, what is the current market rent and would the monthly rent cover your mortgage payment and other housing-related expenses?  There are no guarantees in life, but in real estate as with most financial […]

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Gerald’s Article Insights: “How Much Should You Save to Buy a House?”

The ultimate cost of owning a house unfortunately goes well beyond the initial money required to purchase a home.  There are regular maintenance, upkeep and replacement costs you’ll have to pay for over time, particularly if you do not purchase a new home.  Home ownership is a worthy goal and in order to maintain your home, make certain you put aside enough reserves to pay for unexpected repairs and replacement of major items like a roof.  In order to do this, it’s a good idea not to spend your last dime when you purchase your property–leave some money left over for unanticipated costs which almost always occur. -Gerald Click here for the original article!  

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Gerald’s Article Insights: Real Estate Matters | “Why You Need a Home Inspection Contingency”

You should always have a home inspection contingency in a real estate contract you sign to protect yourself from unforeseen problems with a property like termites, a leaky underground oil tank or major structural defects. In a hot real estate market where there is lots of competition between buyers, people often get frustrated are often tempted to cut corners just to win a bid and make a home purchase–this is a huge mistake that may come back to haunt you later. You have the most control in a transaction when you buy, if you waive the inspection contingency in real estate contract you sign, you may end up stuck purchasing a property with major problems that make the property uninhabitable […]

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Real Estate Expert Gerald Lucas Featured on NBC as Guest on America’s PremierExperts

Gerald Lucas was recently seen on NBC, CBS, ABC and FOX network affiliates around the country as an expert guest on the TV show, America’s PremierExperts® Jersey City, NJ – October 11, 2013 – Gerald Lucas, Managing Director of Performance Property, LLC., was recently featured on the hit TV show “America’s PremierExperts®” which aired on NBC, CBS, ABC and FOX network affiliates around the country. “America’s PremierExperts®” host Nick Nanton interviews the best business, marketing and financial minds from around the world.  In the interview, Gerald described how he accidentally began his career as a real estate investor and how he has shared his knowledge and many years of experience with hundreds of his students throughout the United States and […]

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Gerald’s Article Insights: “Why Real Estate Could Be the Next Hot Investment, Even Now”

Real estate is always a good investment if you know what you are doing regardless of whether the writer of this article says it’s the next hottest investment or not. Also, you should not use averages and macro trends like # of housing starts or # of new permits to make an individual real estate buying decision. There are people who make money and people who lose money in EVERY real estate market–you just want to make sure you are one of the former. The writer does give two good pieces of advice: 1) “Investors should should filter opportunities based on the project partner and project’s ability to generate yield & 2) investors should come in with an understanding that […]

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Short Sale Versus Foreclosure – Which Option is Better For Me?

It’s very easy to get discouraged and want to give up when you fall behind on your mortgage payments. I’ve heard many homeowners say, “I’ve already ruined my credit, it can’t get any worse.” Unfortunately, it can get worse, because the nightmare does not end when the bank forecloses on your property.

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