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Article Index Finance Q&A Tools Index Site Map Recent articles by MP Dunleavey: • How to invest when you've got just $500 , 1/15/2004 • Your 3 worst debt consolidation moves , 1/11/2004 • Feel guilty if youre not shopping? , 1/4/2004 More... Related Sites Robert Allen Institute Millionaire Hall of Fame National Association of Realtors John T. Reeds Web site John T. Reeds reviews of the real estate gurus Carleton Sheets Web site Joe Crumps Real Estate Moneymaker.com The Basics Nothing quick about getting rich with real estate advertisement A real estate seminar promoter promised to create 1,000 new millionaires, but so far none are in sight. See what happened to his believers. By MP Dunleavey Like a lot of people these days, Marjorie Stark wouldnt mind making a little extra cash -- or even a lot of it. So when she attended an information session for Robert Allens Creating Wealth Through Real Estate seminar in New York, she was more than willing to pay $2,495 for Allens intensive three-day course on real estate investment strategies. Concerned about not having enough to retire on and wanting to pass along some wealth to her kids some day, the 62-year-old New York City educator said to me then: I am convinced that real estate is the way to go. I was there that night, too, and I could scarcely resist the mouth-watering idea that those three days could make me rich. As the guy leading the session announced: We are on a mission to create 1,000 new millionaires in 12 months! A year later, Stark isnt any closer to being a millionaire. She hasnt bought any new property nor made any money on real estate -- except for the rental property she owned before and bought the hard way (with cash and bank loans). She even admitted that when she saw Robert Allens newest venture was in vitamin sales, I thought I was going to puke. I was very disillusioned. But Stark is undaunted and still believes there are fortunes to be made in real estate. She just enrolled in another seminar at a local college on how to buy distressed and foreclosed properties, she says. With a full-time job, Im not sure how I can do it, but, boy, am I itching to go! Start investing with $100. Explore our new ETF center. Theres something about real estate Stark is not alone. The National Association of Realtors doesnt track independent real estate investment seminars or how many people attend them, but their allure springs eternal like the get-rich hopes of those who sign up for these courses. The odds of winning are not high. Robert Allens 1,000 new millionaires never materialized in the last year, for example. Allen operates whats called The Enlightened Millionaire Institute. Its Millionaire Hall of Fame Web site lists only 50 millionaires (defined as having generated gains averaging $2.6 million). A spokesman admits not all of them exclusively used the Allen method of real estate investing. (And, in a disclaimer, the site notes, No information has been verified or authenticated. Results vary. All successes are subject to one's own knowledge and effort.) Despite all that, the Robert Allen Institute still conducts two or three seminars a week in different cities and says it reaches about 1,200 people each month. (Thats 1,200 x $2,495 = $2.99 million a month, in case you left your calculator home.) Allen is just one of dozens of artful salesmen who preach fancy financing, no money down, flipping properties quickly and numerous other strategies to get rich buying and selling real estate. And the question all this preaching raises is, do these investment techniques, systems and strategies really work? Can they actually make you rich? After all, would people keep trying it if it couldnt be done? Or are hundreds of thousands of people simply seduced by expert sales pitches and swindled out of hundreds and sometimes thousands of dollars? Weighing the evidence Like so many things in life, it depends on whom you talk to. Or whose Web site you believe. John T. Reed is a real estate investment coach himself, based in Alamo, Calif. Hes also a self-appointed watchdog for this industry. He keeps the most exhaustive list I could find of dozens of so-called gurus, along with reviews of their techniques, books and other products. Although Reeds Web site , where you also can buy his various books for $29.95, reads a bit like he has a chip -- a very big chip -- on his shoulder, he was recommended by the National Association of Realtors as a serious investigator in the industry. Not that hes against real estate investment, or some of the reputable folks who teach their own hard-won wisdom. But those have been degraded by "the endless parade of B.S. artists coming into the real-estate-investment-advice field. It is an embarrassment to the good people in the business." And many people believe his grousing is justified. Norm Bour is the host of The Real Estate and Finance Hour on KLSX in Los Angeles, a top talk radio station. Hes worked in real estate as a mortgage lender and describes the proliferation of real estate seminars, workshops and scams as a major pet peeve. Case in point: foreclosures, he begins. Real estate in California has gone berserk in the last few years so people are looking for foreclosures to buy. The idea being you can buy a foreclosure more cheaply than other property and potentially gain a windfall when you sell it. But, as Bour notes, You can count on one hand how many actual foreclosure properties there are (for sale). Yet theres no lacking of people who are offering real estate foreclosure lists. One might pay $35 for a list, but it may be peppered with properties in other states. Its not fraudulent, but its certainly deceptive. The shady gray area Well-known personalities like Robert Allen or Carleton Sheets , who have extensive marketing organizations, are a little different, Bour says. They offer some very solid basics, but the number of people who can do what they propose is very small -- because they make it sound so much easier than it is. Thats what Josh Kelinson, a freelance advertising consultant in New York, found when he and two friends tried to follow the Sheets method. The three pals pooled their resources to master what Sheets preached, which is similar to the Allen method: buying property with no money down (or some other creative financing method) and flipping later on for a profit. One of his pals took the seminar, another bought the 8-CD set, etc. Thus inspired and determined, they tried to buy a building suitable for five apartments in Massachusetts, not far from where theyd all grown up. Kelinson says the actual experience of trying to buy an income property proved eye-opening. We spent a ton -- and I mean a ton -- of time on it. There was the approval process, the paperwork, getting lawyers. It took two to three hours a day, not including weekend travel time and unexpected snafus. I found it impossible to do with a full-time job. Ultimately, the project bogged down because of a major zoning problem. The building was in an area zoned for three apartments, and the building had been illegally converted into five apartments. The zoning authorities refused to grant an exception to the rules. Then, the building owner refused to return their deposit. The three were out $35,000. Still, Kelinson doesnt feel misled or duped by the Sheets method, and he and his friends are sure they can make it work with their next deal. There are a lot of other things out there that are scams, but this definitely can be done, he says. But investing in real estate is not nearly as easy as it looks, he says. Make sure you have the time to do it, he advises wannabe investors. If you dont allocate the time, it probably wont work. We want the system to work so much And therein lies the fundamental appeal, and ultimate trouble, of get-rich-quick (GRQ) strategies. Its the jackpot mentality, says psychologist Patricia Farrell, author of How to Be Your Own Therapist . Just like the schmoe who buys a winning lottery ticket -- every once in a while, someone, somewhere really does use these edgy real estate investment techniques to make millions. Its not the principles that are flawed, says Bour. Its the simplicity and ease that are overstated. Most of these courses are so seductive, Farrell says, because they operate according to a tried-and-true principle of behavioral psychology called the variable ratio reinforcement schedule. Basically, people (and rats) will persist in doing something, even with little or no return, if they are given the tiniest bit of hope of a coming reward. So the fact that some people do succeed at no money down strategies acts like a financial aphrodisiac for all those watching, waiting, hoping. So could the Starks and Kelinsons of the world be next? Is it just a matter of reapplying the Robert Allen/Carleton Sheets techniques until they work? Mark Wilson, one of the millionaires created by the Robert Allen Institute, would say yes. The president of Southeastern Housing Partners in Hickory, N.C., Wilson started investing in real estate in the late 1980s. We were doing OK, but nothing to write home about. Then in 2002, after hearing Robert Allen speak, Wilson paid $5,000 to join a one-year intensive coaching course. It changed his life, his business and, above all, his cash flow, he says. Although hed read Allen's No Money Down in college, the seminar focused more on another Allen signature strategy: developing multiple streams of income (from rentals, rehabs, buying foreclosed properties, commercial properties, etc.). Now, Wilson says, hes about to close a deal that will put his net worth at $8.5 million. He believes anyone can make big bucks from real estate if he or she is willing to take action -- not just sit on the sofa listening to tapes. Before you sign up, count to a million Of course, Wilson admits that it was easier for him to take the Robert Allen techniques and run with them. He had a lot of experience in real estate already. Most people, Bour points out, dont have those skills. And few people have the time or the diligence to acquire them. (Some skill sets you need to have -- and the course cant teach it to you, agrees Kelinson.) Bob Underwood of Stafford, Va., is one person who can testify to the fact that investing in real estate is not for those steeped in fantasy. Underwood bought an e-book from yet another author and teacher by the name of Joe Crump . Crump, who hails from Indianapolis, teaches a no-money-down technique, but he told me that he does it legally and ethically. Underwood, 43, has a wife and family and a full-time job -- and no time to muck about in real estate with no return. He paid Crump about $500 for one-on-one coaching in 2002 and, after a rocky start, has managed to buy three properties in the last two years. Hes sold one of them, made about $10,000, after taxes, in the process and is hoping to rehab and sell another this year. One deal Underwood did alone, the next was with a partner. He says theres no cookie-cutter method that works. What works, he says, is getting out into the market, investing the time to learn about the business, not neglecting your wife and kids (or day job), learning from your mistakes, making friends and getting advice from others as you move forward. Slowly, steadily and not particularly wealthily. Remember, you have to pay capital gains (taxes) on the profits, he says, so its not a lot of money in the end. But that, of course, isnt what people want to hear. People are lead to believe that all you need is the right plan and youll make a million, that if you use this system youll be rewarded, says psychologist Farrell. They dont realize that the possibility of getting that big reward is so remote. 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Features of ENERGY STAR Qualified New Homes : ENERGY STAR What is ENERGY STAR? | Newsroom Search What are ENERGY STAR Qualified New Homes Features of ENERGY STAR Qualified New Homes Benefits of ENERGY STAR Qualified New Homes Homebuyer Resources New Homes Partner Locator For Residential Building Professionals PRODUCTS HOME IMPROVEMENT NEW HOMES BUSINESS IMPROVEMENT PARTNER RESOURCES -- Home > New Homes > Features of ENERGY STAR Qualified New Homes -- -- Features of ENERGY STAR Qualified New Homes ENERGY STAR qualified new homes achieve their energy savings through a variety of reliable and established technologies and building practices. Builders are free to select the energy efficiency features used in their new qualified homes, tour the home below to learn more about the technologies and practices that are typically included. Tight Construction (Reduced Air Infiltration) Tight Ducts Improved Insulation High Performance Windows Energy Efficient Heating & Cooling Equipment Benefits of ENERGY STAR for Homebuyers > Looking for a new home? Print and take this helpful checklist (184KB) with you to be sure you are getting the 'most' house for your money. Benefits of ENERGY STAR for Home Industry Professionals < What are ENERGY STAR Qualified New Homes? Benefits of ENERGY STAR Qualified New Homes > -- Products | Home Improvement | New Homes | Business Improvement | Partner Resources Newsroom | Privacy | Contact Us | Site Index EPA Home EPA Search DOE Home DOE Search

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Google Directory - Regional > Europe > United Kingdom > Business and Economy > Property > International Directory Help Search only in International Search the Web International Regional > Europe > United Kingdom > Business and Economy > Property > International Go to Directory Home Web Pages Viewing in Google PageRank order View in alphabetical order 1st for French Property - http://www.1st-for-french-property.co.uk/ Offers property search by region and includes information about adding properties. WEF - http://www.vefuk.com/ Estate agents specialising in the sale of properties in France, and international new build property. Federation of Overseas Property Developers, Agents and Consultants - http://www.fopdac.com Trade association for specialists in the international property market. Contains a directory of members and fact sheets. Owners Overseas - http://www.ownersoverseas.com/ Properties mainly in Spain and the USA. Site includes a database of properties and a buyers' guide. Solvista - http://www.solvista.co.uk Specialise in country properties in Andalucia, Southern Spain. Luxury coastal apartments, villas and farm houses with land for renovation. Spanish Connection - http://www.spanish-connection.co.uk Information for UK residents wishing to buy properties in Spain. Ultra Villas - http://www.ultravillas.co.uk/ Spanish property consultants specialising in the sale of freehold properties. Details of homes and prices available. Elite Spanish Properties - http://www.espvillas.com Offer estate agency service for villas on the Costa Blanca and Costa Calida coast. David Headland Associates - http://www.headlands.co.uk/ Offering property in Spain, Portugal and Cyprus. Includes a search feature and a brochure request form. French Property Service - http://www.frenchpropertyservice.com Buy, sell or rent French property. Searchable database. Spanish Property Auctions - http://spanishpropertyauctions.com Re-possesed property coming to auction in Spain. Fine Property France Estate - http://www.finepropertyfrance.com Properties for sale in South West France. Search the property database. The Turkish Property Centre - http://www.theturkishpropertycentre.com/ Turkish homes for sale. Details of properties, advice, rentals, services and customer testimonials. Sunny Property - http://www.sunny-property.co.uk/ UK and Turkey based estate agents offering property for sale in North Cyprus. Eurofarms - http://www.eurofarms.com Help for farmers wanting to relocate to continental Europe. Lemon Tree Villas - http://www.lemontreevillas.com/ British property management agents for the Costa del Sol offering both property for sale and holiday rental management and advertising. World Class Homes - http://www.worldclasshomes.co.uk Independent international real estate agency. Offering homes throughout Spain, the Balearic Islands, Gibraltar, Portugal and Bermuda. Spanish Property Company - http://www.spanishpropertycompany.co.uk Country properties and building plots for sale in Almeria, inland from Mojacar Southern Spain. Coastal Estates - http://www.coastal-estates.com/ Offers for homes for sale, rent and investment in Orlando, Florida. Details of properties and service. Based in Southampton. Propertunities - http://www.propertunities.co.uk Selling properties, villas, apartments, maisonettes, on the Spanish Costa Blanca. Spain Direct Ltd - http://www.torrevieja.uk.com/ Sells new freehold property on the Costa Blanca in and around Torrevieja. Profile, services and brochure request., CIPS International - http://www.cipsinternational.co.uk/ Assists and guides people through the property purchasing procedure in Spain and Portugal. Spain SA - http://spainsa.com/ New and resale property in Costa Calida and La Manga, Spain. Profile, property database, brochure request and buying hints. London Paris Dream Home - http://www.parisdreamhome.com/ Provide search, legalities, renovation, refurbishment and decoration services for those wishing to purchase property in Paris. The International Property Show - http://www.internationalpropertyshow.com/index2.htm UK exhibition for information on properties overseas. Your Property Abroad - http://www.yourpropertyabroad.com Guide for UK residents wishing to manage their properties abroad. Assist in property inspections, relocation, property sales, and holiday homes. Homes in Bulgaria - http://www.homesinbulgaria.co.uk/ Property and real estate purcasing in all areas of Bulgaria including advice on business and holidays in ski resorts and on black sea coast. DSI Properties - http://www.dsiproperties.co.uk Spanish Property for sale on the Costa Calida, Costa Almeria and Lanzarote. Harringtons Estates Limited - http://www.euro-properties.net Searchable database offering properties for sale in Spain. Information on schools, taxation, mortgages and legal terminology. Bluewater Homes - http://www.bluewater-homes.co.uk UK based real estate company specialising in the sale of properties on the Costa del Sol, Spain and in Crete. Overseas Property Shop - http://www.overseaspropertyshop.com/ Offers freehold apartments, villas, bungalows located in Jalon Valley, Moraira, Calpe, Denia, Torreveija and La Marina. Spanish Dream Homes Ltd - http://www.spanishdreamhomes.co.uk/ Offer a selection of properties for sales in Torrevieja. Rose Developments - http://www.rosedevelopments.com/ Independent Spanish home finder service focused on Almeria area. Details of service, location and buyer's guide. Office in Cheltenham. Spanish Property Sales - http://www.spanishpropertysales.co.uk Spanish properties for sale. Hotspotz - http://www.hotspotz.co.uk/ Sells new and used mobile homes in Spain, France, Portugal and the Canaries. Profile, services, available properties and FAQ. Classic Florida Realty, UK - http://www.classicfloridarealty.com/ Specializes in Florida villas for sale and rental. El Sol de Espana - http://www.elsoldeespana.co.uk/ Independent Spanish property agency with two offices in the UK. Details of regions and properties. Zafra - http://zafra.pwp.blueyonder.co.uk/ London based firm specialising in finding properties in Spain. Flamenca Homes Spain - http://flamencahomes.tripod.com/ Covering aspects of purchasing property in Spain for holiday, retirement or investment. Details of properties and resources for buyers available. Property in France - http://www.propertyinfrance.co.uk/ Property company specialising in the sale and rental of property in France. Details of service, properties and company background. Based in Solihull. Wrights Overseas Properties - http://www.wrights-overseas.com Property available in the Costa Blanca. Lowery's USA - http://www.lowerys.co.uk Specialists in US property sales and rental accommodation, based in the UK, but with offices in Kissimmee, Florida. Belair Spanish Homes - http://www.belaircasas.com/ A Marbella-based estate agent with a UK office offering properties for sale in Spain. Details of properties and the region. Properties of Distinction - http://properties-of-distinction.com Offers a selection of properties for sale throughout France with a search facility by area. The Overseas Property Partnership - http://www.property-partnership.com/ Introduction agency for properties in Spain and Cyprus. Details of services, properties and flights for viewing. Based in Yorkshire. Mayenne Properties - http://www.mayenneproperties.com/ Land and houses for sale in northern France. Picture and prices available online. Belle Maison French Property Investments - http://www.belle-maison.co.uk Information on investments based on the renovation and resale of French properties. ReposenFrance - http://www.reposenfrance.net Property locating service for Normandy, Brittany and northern France. Spanish Homes Direct - http://www.spanishhomesdirect.com/ Offers a single point of contact for advice on buying, furnishing and renting property on the Costa Del Sol. Move to France - http://www.movetofrance.co.uk/ Offers property for sale in Brittany and Normandy. Profile, illustrated property list and information about fees. Sol Mar Properties - http://www.solmarproperties.com Property agents selling new property on the Costa blanca and the Costa del sol. Sunstate Properties - http://www.i-buy-property-in-spain.com/ UK estate agent offering properties for sale in Spain. Details of region and current properties. Exchange Estates Ltd - http://www.exchange-estates.co.uk/ Offers a Spanish villa sales service with a UK showroom. Based in Liverpool. Grassroots - http://homepage.ntlworld.com/p.hortonis Brittany garden and property maintenance service. Estates24 - http://www.estates24.com A searchable online database of international real estate listings of residential and commercial property for sale. Database entries concentrated in United Arab Emirates. Help build the largest human-edited directory on the web. Submit a Site - Open Directory Project - Become an Editor Modified by Google - ©2004 Google Advertise with Us - Jobs, Press, Cool Stuff...

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FRB: Understanding the Home Mortgage Process Understanding the Process and Your Right to Fair Lending Shop for the mortgage package that best meets your financial needs. If you apply for a mortgage and the lender says you don't qualify, keep in mind that some lenders have stricter credit standards than others. Try someone else. Don't stop shopping after one discouraging experience--or even several. "Just Right!" You’ve been looking at houses for months and months, and you have finally found it--the house that’s just right. Now, you’re anxious to buy your new home, move in, and get settled. But you still have an important task ahead of you--getting a mortgage loan. This brochure explains about dealing with mortgage lenders. It tells you where to look, what to look for, and what takes place when you apply for a mortgage. Knowing what to expect, especially if you are a first-time homebuyer, may make it easier for you to get through the process. You’ll also learn about your legal rights to fair lending and what you have a right to expect in fair treatment. The Fair Housing Act and the Equal Credit Opportunity Act make it unlawful for a lender to decide whether you qualify for a loan, or to offer less favorable terms, for reasons such as your race, national origin or sex and other prohibited factors. If you believe you have been unlawfully discriminated against by a lender, or have questions about the treatment you have received, this brochure also tells you where to file a complaint. Where to Shop and What to Look For The Mortgage Application Process Understanding Your Rights to Fair Lending Directory of Federal Agencies Home | Brochures Accessibility To comment on this site, please fill out our feedback form. Last update: June 21, 2001