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Renovation

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Increase your sales with Renovation financing

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Renovation

  1. 1. Where can tomorrow’s property values improve today’s business prospects? Renovation financing opportunities Carlos Ramos Home Mortgage Consultant NMLSR ID 460046
  2. 2. Renovation financing opportunities <ul><li>Whose opportunities are we talking about? </li></ul><ul><li>Yours </li></ul><ul><li>Theirs </li></ul><ul><li>Ours </li></ul>
  3. 3. Renovation financing opportunities <ul><li>Whose opportunities are we talking about? </li></ul><ul><li>Yours — does more for less-than-perfect listings </li></ul><ul><li>Theirs </li></ul><ul><li>Ours </li></ul>
  4. 4. Renovation financing opportunities <ul><li>Whose opportunities are we talking about? </li></ul><ul><li>Yours — does more for less-than-perfect listings </li></ul><ul><li>Theirs — makes the decision for buyers with a vision </li></ul><ul><li>Ours </li></ul>
  5. 5. Renovation financing opportunities <ul><li>Whose opportunities are we talking about? </li></ul><ul><li>Yours — does more for less-than-perfect listings </li></ul><ul><li>Theirs — helps make the decision for buyers with a vision </li></ul><ul><li>Ours — working together as a business-building team </li></ul>
  6. 6. Renovation financing nuts and bolts <ul><li>What is it? </li></ul><ul><li>How does it work? </li></ul><ul><li>What are the benefits? </li></ul>
  7. 7. What is renovation financing? <ul><li>It’s financing with all the fixings </li></ul><ul><li>The financing to purchase a home </li></ul><ul><li>The financing to repair, upgrade or remodel </li></ul><ul><li>All in a single first mortgage transaction </li></ul>Before After
  8. 8. How does renovation financing work? <ul><li>Loan amounts are based on improved property values </li></ul><ul><li>Buyers can make improvements right after closing 1 </li></ul><ul><li>Renovation costs are spread throughout the mortgage term </li></ul><ul><li>Buyers can enjoy potential tax advantages 2 </li></ul><ul><li>Restrictions may apply. Consult a home mortgage consultant for more details. </li></ul><ul><li>The interest on any portion of credit greater than the fair market value of your buyer’s property is not tax deductible for Federal Income tax purposes. Your buyers should consult a tax advisor regarding the tax deductibility of interest and charges. </li></ul>
  9. 9. What are the benefits of renovation financing? <ul><li>Multiple uses </li></ul><ul><li>Ample funds </li></ul><ul><li>Suitable selection </li></ul><ul><li>Simple process </li></ul>
  10. 10. What are the benefits of renovation financing? <ul><li>Multiple uses — for many property types </li></ul><ul><li>Ample funds </li></ul><ul><li>Suitable selection </li></ul><ul><li>Simple process </li></ul>
  11. 11. What are the benefits of renovation financing? <ul><li>Multiple uses — for many property types </li></ul><ul><li>Ample funds — based on after-improved values 1 </li></ul><ul><li>Suitable selection — </li></ul><ul><li>Simple process — </li></ul><ul><li>1. The interest on any portion of credit greater than the fair market value of your property is not tax deductible for Federal income tax purposes. You should consult your tax advisor regarding the tax deductibility of interest and charges. </li></ul>
  12. 12. What are the benefits of renovation financing? <ul><li>Multiple uses — for many property types </li></ul><ul><li>Ample funds — based on after-improved values </li></ul><ul><li>Suitable selection — choice of fixed-rate or adjustable-rate financing </li></ul><ul><li>Simple process — </li></ul>
  13. 13. What are the benefits of renovation financing? <ul><li>Multiple uses — for many property types </li></ul><ul><li>Ample funds — based on after-improved values </li></ul><ul><li>Suitable selection — choice of fixed-rate or adjustable-rate financing </li></ul><ul><li>Simple process — dual purpose, singe loan transaction </li></ul>
  14. 14. Example #1 <ul><li>Buyer is a celebrity chef wanna-be: </li></ul><ul><li>“ Poor lighting, no counter space, outdated appliances...No self-respecting portobello mushroom would be caught dead in this beat-up old kitchen.” </li></ul>Before After
  15. 15. Example #2 <ul><li>Seller is a not-so-handyman: </li></ul><ul><li>“ What do you mean the plumbing and electrical are not up to code? I upgraded the pipes and </li></ul><ul><li>wiring myself!” </li></ul>Before After
  16. 16. Example #3 <ul><li>Buyer knows what shower “stall” really means: </li></ul><ul><li>“ You’re kidding, right? I have people living here and </li></ul><ul><li>this house has only two bathrooms.” </li></ul>Before After
  17. 17. Example #4 <ul><li>Seller was getting around to it: </li></ul><ul><li>“ Yep, been meaning to paint since ’75. Bought the brush and everything. Careful not to trip on that buckled patio...and watch out for the back door. Sometimes it falls off its hinges.” </li></ul>Before After
  18. 18. Renovation financing opportunities recap <ul><li>Positions you as a results-oriented professional </li></ul><ul><li>Helps make less-than-perfect listings more marketable </li></ul><ul><li>Helps make the decision for buyers with a vision </li></ul><ul><li>Helps dreams come true and sales go through </li></ul>
  19. 19. Renovation financing team advantages <ul><li>Regular goal setting and planning sessions </li></ul><ul><li>Free preliminary financing consultations </li></ul><ul><li>Joint marketing and advertising campaigns </li></ul><ul><li>Special Open House marketing materials </li></ul>
  20. 20. Contact information Carlos Ramos 813-632-2184 [email_address] www.MortgagesByCarlos.com NMLSR ID 460046 This information is for real estate professionals only and is not intended for distribution to consumers. Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2011 Wells Fargo Bank, N.A. All rights reserved. NMLSR ID 399801 102131 2/11

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