10 Resume tips that are sure to land you an interview...

After attending several resume trainings, re-writing my own resume multiple times and almost always landing the interview and job, I decided to put all of my tools and tips into one place to help fellow job seekers earn that position they've been waiting for.

1. Resume Parts: What to include- Top...Be sure to use your correct info. Name (no nicknames) address, phone (make sure your voicemail is professional or leave it on the standard greeting setting)/  email-be sure your email is professional, hotmuffin@gmail.com might not get you a call back... Create an email using your first and last name or 1st initial.last name / ( Summary of qualifications or objective (be Pacific....) ocean pic... /Work history & experience (Name & location of company, position title, dates worked, list of duties with emphasis on achievement)/ Other optional things to include... Education/Special skills/Awards/ professional memberships/ Professional development or training/ License & certifications/ technical skills/ Languages 
2. Accurate Objective Vs. Summary of strengths... Be Specific! Which ever one you choose to use, make sure you tailor it for each job you apply for... You shouldn't have a one size fits all resume when applying for multiple jobs... I have several different versions of the same resume using different key words. Be direct! Make every word count! Don't ramble or attempt to sound overly important... You'll just waste space. Objective: As an experienced professional with nearly a decade of experience in Real Estate Closings, Real Estate Law, Real Estate Finance and distressed properties, I am looking for a position where my skills and abilities will be utilized. Summary of Qualifications: A. Top-notch Real Estate professional with nearly a decade of experience in Real Estate Closings, Real Estate Law, Real Estate Finance and distressed properties. B. Licensed NC Broker, Short-sale/Foreclosure Resource, Certified Investor Agent Specialist, Certified Distressed Property Expert, Affordable Housing Specialist.
3. Selecting a format: Chronological is  the most common and accepted format. If you have Microsoft office you can pull different templates to see which one you like the best. Chronological, the most widely used, goes like this... A. Heading/Name, address, email and phone B. Work history listed by date in reverse order from present to past (detailed work responsibilities with emphasis on achievements C. Education D. Special certifications & awards. Another thing to consider in your formatting is font size & color. The font size should be between 10 pt- 12 pt. Always use black! Keep in mind that less is more, your resume should be no more than 1 or 2 pages and it should not go back more than 10 years. You should also use no more than 3-6 bullet points under each position when concisely listing your work experience.  
4. Use key words: Your work experience is where you can incorporate some of the same words used in the job description. In doing this as recruiters review potential candidates, they will attempt to flag words that identify directly with the job. According to Forbes & Psychology, another good thing to do is to look up the company and find out what their core values are and use similar words in your resume. This will show clear correlation with a candidate that matches what they stand for. 
5. Add your wow factor: Achievements are important! List times where you beat the competition, won a special award over an amount of participants or exceeded sales goals or other company goals by a certain percentage. 
6. Quantify your work with numbers: This may not be as important for some positions but it definitely counts in the banking & sales world. Show the numbers. How many did you manage? What was the size of your portfolio? How many reports did you handle? By what percentage did you exceed the sales goal?
7. Use action words & verbs: Instead of saying, Responsible for billing Medicaid and other insurances... Say instead, Billed Medicaid and other insurances. Avoid using words like responsible, supported and managed unless managing a team or project. 
8. Show progression in your field: In the chronological format when you're listing your work history backwards, it should show that you are growing in your field with promotions & higher levels of responsibility. 
9. Don't attempt to mislead or lie about your work history and experience. Employers will know if you're truly knowledgeable about the area of expertise you claim to have. Do your research on the position to make sure you qualify! Other don'ts, things to leave out: Nicknames, inappropriate emails, personal information, long unemployment gaps, hobbies, first person references like I, my or me etc. Space is limited so make every word count!
10. Grammar: Proofread 100x! You definitely want to make certain that you're using correct spelling and grammar. I always recommend using a second set of eyes. You know what it's supposed to say so it's easy for you to miss common mistakes. 

Resume snapshot:

Example of special achievements:

Helpful links:
Learn to write to avoid fallacies... Think Again, How to Reason & Argue... An online writing class offered by Duke University


Forbes Resume Blogs:


6 Secrets of Great Resumes Backed By Psychology
http://www.forbes.com/sites/jonyoushaei/2014/08/27/resumes/#679ff9b8507b


8 Critical Ways to Improve Your Resume:
http://www.forbes.com/sites/nextavenue/2016/02/09/8-critical-ways-to-improve-your-resume/#3fe12e6d78a2

Stop! Do you need a permit for that? 8 Times you'll need a permit when remodeling/rehabbing in North Carolina

STOP! Do you need a permit for that?

Common costly mistakes when rehabbing properties involve the failure to permit certain rehabs & upgrades. Building permits not only protect property values as they enforce the building code, they also protect those who will dwell in the structures as well. Failure to adhere to the process of permitting can lead to fire, water contamination or leaks, structure failure etc. Failing to permit can lead to fines and also the work may be required to be torn out and started over so that it can be inspected from the proper time frame. This can quickly eat into the return you were hoping to recoup from the upgrades.

See below, 8 times you’ll need a permit when remodeling or rehabbing in North Carolina…

1. When adding to or upgrading the wiring… What is wiring? Electricity. The aggregate of wires in a lighting system, switch board, radio. Etc. (From Dictionary.com)

 

2. When adding or upgrading the plumbing… Anytime a seal is broken… What is plumbing? The system of pipes & other apparatus for conveying water, liquid wastes, etc., As in a building. (From Dictionary.com) 


3. When altering load bearing walls… What is a load bearing wall? Walls that shoulder the structural weight of the building unlike other walls that simply divide rooms. 


4. Tampering with natural gas.
 
5. Room additions, anytime you’re adding to the square footage of the structure.
 
6. Enlarging windows… As this will affect load bearing walls. 


7. Demolition of a structure.
 
8. Moving a structure from location to another.


It is best to consult with your contractor and let them order the permits and set up the inspections. 

 

 

What should be in a BPO? 75 Items that help determine the value of Real Estate

In my previous blog I discuss how ordering a BPO can help investors see a clearer picture of a property's value. This list of data fields show just how much a BPO is advanced over a free CMA.

Form data: Key ***Denotes drop down box, Red denotes adjustments

1. Address
2. Unit#
3. City
4. County
5. State
6. Zip
7. Proximity*
8. Subdivision
9. Area name, condo project, subdivision, PUD or commonly known as
10. Data source
11. Current list date
12. Current list price
13. Original list date
14. Original list price
15. Sale price
16. Sale date
17. Concessions
18. DOM
19. Lot size cvt to acres
20. Lot size adjust
21. Site topography and useable site utility i.e. level 100% or sloped 50%
22. Property type
23. Property type adjustment
24. Property style
25. Property style adjustment
26. HOA fee
27. Construction
28. Construction adjustment
29. Quality of construction, Q1, Q2
30. Condition, C1, C2
31. View
32. View adjustment
33. No. of units
34. No. of units adjustment
35. Year built
36. Year built adjustment
37. Landscaping
38. Landscaping adjustment
39. Sf above grade
40. Sf above grade adjustment
41. Total rooms/Bed/Full bath/half bath
42. Bedrooms adjustment
43. Full baths adjustment
44. Half baths adjustment
45. Finished below grade
46. Finished below grade adjustment
47. %Basement finished
48. Basement Sf
49. Basement Sf adjustment
50. Garage/Carport
51. Leasehold or fee simple
52. Leasehold adjustment
53. Functional utility
54. Heating/cooling
55. Heating/cooling adjustment
56. Energy efficient items
57. Energy efficient items adjustment
58. Pool/spa/fireplace/porches/patio/deck/fences, etc.
59. Pool/spa/fireplace adjustment
60. Location
61. Location adjustment
62. Superior/Inferior
63. Estimated Value of adjustments
64. Sale type
65. Other features
66. Price per sf
67. Best sold/list
68. Is REO?
69. Net adjustment
70. Net adjustment percentage %
71. Gross adjustment
72. Gross adjustment %
73. MLS
74. MLS PDF upload document
75. Tax PDF upload document

 

Real Estate Investment Analysis 101: Introductory- 10 Numbers that could kill your deal!

PROPERTY PROFIT POTENTIAL #PPP

Don’t let your investment property go under water with three dollars and six dimes… Yeah you may laugh, because you did not do your math… When making decisions on an income producing property, investors often exaggerate property profit potential by not fully calculating all of the components surrounding the cash investment. Read along  as I go through 10 numbers novice to advanced level investors can use to help them make informed decisions about a ‘Property’s Profit Potential’.

1. Purchase price + closing cost  (2) + repairs

 The purchase price is obviously an important number in real estate investing however there are 2 other numbers that coincide with this number, closing cost & rehab cost. Underestimating these 2 additional cost associated with the purchase price could quickly begin to eat into your return. Also, often times investors fail to realize that there are 2 sets of closing cost. You pay them when buy the property and when you sell. In most cases when the investor loses, it’s because they did not properly calculate the rehab or repair cost and the closing costs for both acquisition and disposition of the property. This is the short version but unknown closing cost like additional liens that have to be settled is also a return on investment killer… Your closing attorney should uncover all of this in a title search, but I’ve seen several cases where a lien was missed and had to be negotiated & settled just days before closing.

#Fact The HUD-1 Settlement Statement has recently been replaced by T.R.I.D. (Tila Respa Integrated Disclosure) The implementation of these new rules may delay closing or cause other unforeseen issues. Talk to your broker & lender and be sure to ask questions about how the new disclosure rules may affect your closing.

National Association of Realtors: FAQs- TILA//RESPA Integrated Disclosure (TRID) Rule       http://www.realtor.org/topics/trid-tila-respa-integrated-disclosure

2.  Area recent sales (market values) - This number will help to determine if you are paying a fair price for the property. What are the comparable sales?  à How much are homes currently selling for that closely resemble the subject property? Using this method in the valuation process is called “The sales comparison approach”. You find 3 or more recently sold homes that closely resemble the subject property. If the house that sold had additional rooms or amenities beyond what the subject property has, you subtract from the price based on the value of the items the subject property does not have.  If the subject property has more features beyond what the home that sold had, you add to the price of the one that sold to get the value of the subject property.  This information can be found on tax websites and other real estate listing sites. This number also determines what you could possibly re-sale the property for. The best way to obtain the most recent and accurate comparable sales data is to 1. Order a professional BPO (Broker Price Opinion) or 2. Have a real estate broker with MLS access to the area you are purchasing in, do a simple CMA- Comparative Market Analysis.                                                                                                                                             #Fact A BPO is simply the paid version of the CMA, a CMA on steroids basically…

What should be in a BPO? The Extensive Report
http://realestate101-eblount.blogspot.com/2016/05/what-should-be-in-bpo-75-items-that.html?m=1

What to look for when buying a home: Bank Rate

http://www.bankrate.com/finance/real-estate/items-to-consider-in-home-for-sale-4.aspx

Find comparable sales & home values: Zillow

www.zillow.com

Eppraisal

http://www.eppraisal.com / From Dr. Joe White’s Real Estate Wholesaling Course (www.DrJoeWhite.com)                                     

3. After Repair Value (ARV) - The after repair value of a property is simply the value of the property once all of the repairs have been made. This is a very important number because you need to buy the property within a certain percentage of ARV…Some investors like to purchase properties at 50% of ARV, some at 70% of ARV; it all depends on the size of the return they’re hoping to capture. If I can buy a property valued at $300,000, needing $20,000 in repairs for just $210,000, which is 70% of the After Repair Value, the potential profit is $70,000 minus closing cost, etc….                                                                                                                                                                              #Facts Distressed properties are often discounted up to 35%, sometimes more.How To Find Foreclosures:

http://realestate101-eblount.blogspot.com/2013/04/how-to-find-foresclosures-5-top-sources.html?m=1

4. Average Days on Market: If you don’t have some idea of how long it’s going to take the home to sell, you won’t be able to accurately calculate your holding cost. Once you become the owner of the property, the clock starts ticking! You’re now responsible for the taxes, insurances, utilities, maintenance and all other cost associated with the property…These items need to be calculated per diem as well as monthly, that way if you know those bills total say $300 per month/ $10 per day and average days on market is 45, your potential holding cost could total $450… This is also one of those numbers that needs to be padded. You can do all of the research in the world and still run in to situations, natural disasters, government controls etc., that could slow down your selling time.                                                                                                                                                                #Facts Certain restrictions on short sale or foreclosed properties can require you to hold them for at least 100 days. When buying distressed properties be sure to inquire about selling restrictions.

5. List to sell price ratio: (how much are sellers getting versus what they are asking for) This number is important because buyers ultimately determine the sale price. The house may be listed for $275K but when the property closes, you see that it actually sold for $266,750. In this case, the list to sale price ratio is .97% which means they accepted the offer that came within 3% of the asking price…The offer that was discounted by just 3% ($8,250 off in this case) This number should help you make offers as well as make decisions on the types of offers you should accept on your property. Keep in mind that there are different sales concessions that discount what the seller actually received… The seller could have provided a home warranty, paid a percentage of the buyer’s closing cost or some other financial concession that would have ultimately reduced the amount the seller actually received. When using a broker with MLS access, you can usually find out exactly what the sales concessions were for comparable sales.

6. Listing Agent sales commission: Simply put, this is what you’re paying your listing broker in the employment contract, better known as the ‘listing agreement’. This will be added to your overall investment cost. This number will ultimately reduce your cash on cash return if it is not thought out early on, so be sure you know it’s negotiable. Yes I said it… NEGOTIABLE!     

  #Facts Antitrust laws prohibit real estate commissions from being one set price.

7. Cash-on-cash return/ROI Return on Investment: The calculated annual before tax cash flow divided by the total cost invested in the deal. If the total cost of the deal is $230K and you sell the property for $300,000, the cash on cash return on investment (ROI) is 13%. This number should be padded to allow for those unforeseen events that can eat into the return. I like to see the return doubled in my pre- investment analysis. In my opinion, it is better to estimate less and make more, than to estimate more and actually make less.  Having a good estimate of ROI will help you to decide if the deal is worth doing. Normally if you can make a return of at least 8% on multiple properties, you are earning more than the interest most other investment vehicles are currently paying. Interest is almost free these days which means the money is practically free…Why not let the money work somewhere else where it can earn more? Why leave the money in a low paying interest earning vehicle where it’s barely increasing its value?                                                                                                                                            

The Ultimate Analysis: Cash on Cash Return vs. Overall Return/Bigger Pockets

https://www.biggerpockets.com/renewsblog/2014/09/29/the-ultimate-analysis-cash-on-cash-return-vs-overall-return/

 8. Cap rate (NOI-Net operating income divided by property value) This number is used to valuate income producing properties like residential rentals and commercial spaces. This is also known as the ‘Income Capitalization Approach’ in appraising. You divide NOI (gross income minus operating expenses) by the sales price to determine this percentage.  To find out the cap rate in a particular area, your broker will need to locate recently sold comparable properties and get the sales price and the property’s annual net operating income. This calculation allows you to compare investments and indirectly measure how fast an investment will pay for itself.

More details about cap rate from Wikipedia:

https://en.m.wikipedia.org/wiki/Capitalization_rate

Here is where you need the financial professional with the fancy degree….

9. Time value of money/ NPV-Net Present Value: This number has to do with the point in time in which you receive the money. Money today is worth more than money later. In more in depth analyzation of the investment, investors can look at the time value of the money to see if a project makes sense. If money now is taken for the purchase of an investment with the hopes that it will make money later, that money loses the value that it could make today if it was able to earn interest today.

Video on NPV By: David Pio, CCIM-Certified Commercial Investment Member, LEED- Leadership in Energy & Environmental Design

https://www.youtube.com/watch?v=mGdiHtDO13Y

10. Discounted cash flows- By discounting future cash flows to a present day’s rate, investors will be able to properly calculate NPV (Net present value) As mentioned above, the investor must understand the time value of money. If the money were used today, it could be invested at a specific rate of return, earning for the investor. If that money is used to make money in the future, the investor can estimate the future cash flows for a certain amount of years and then discount those cash flows to determine what they are worth today. Investors can use this calculation to determine the offer price on an income producing property by discounting those future cash flows into a present value to offer today.

More on Discounted Cash Flows from Investopedia http://www.investopedia.com/ask/answers/010715/how-do-you-use-dcf-real-estate-valuation.asp

The Trevon Project Inc.

North Carolina:
Stay tuned or subscribe here with your email for updates! We are rolling out our new website where you will be able to send us your housing needs and get on our list for home rehab, affordable housing rentals/purchases, foreclosure prevention counseling or pre-purchase counseling.


https://www.youtube.com/watch?v=0mA5pl3sFRM

Operation #KnowBeforeYouOwe 6 Important things about #TRID

Operation #KnowBeforeYouOwe  6 important things about #TRID

 

1.       The start date for the replacement of the current HUD-1 Settlement Statement & Good Faith Estimate starts August 1, 2015. 

A.      T.R.I.D., TILA RESPA integrated disclosure will replace both of these forms in efforts to reduce paper work and eliminate confusion. Real Estate brokers will now need to have more involvement in the loan process. Instead of a GFE-Good Faith Estimate & initial TIL disclosure, borrowers will now receive a 'Loan Estimate' document which must be provided within 3 days of application submission. The current HUD-1 & final TIL disclosure is being replaced by the Closing disclosure statement and must be received 3 days prior to closing if delivered in person. (See rules for email and mailbox delivery)

B.      The CFPB, Consumer Finance Protection Bureau developed the forms to comply with a federal requirement to make mortgage disclosure documents easier to understand.

C.      The 5 page Closing Disclosure & 3 page Loan Estimate combines several forms into one and additional statutory disclosures into just 2 forms.

D.      The new forms will be easier to read for borrowers. Interest rates, payment information and total closing cost will be printed clearly on the 1^st page making it easier for consumers to compare mortgages. Names and phone numbers of mortgage brokers, lenders and other service providers are present so that borrower's can call the appropriate person if they have questions when signing.

 

2.       Closing Attorney/Settlement Agent & Lender/Creditor must successfully collaborate to prepare & provide the closing disclosure to the borrower within the specified time.  

A.      Since underlying information concerning the loan resides within 2 different systems, Loan centric info. In the lender’s loan origination system and property centric information in the closing attorney’s system, pressure will be on the Lender and Closing Attorney to combine information for a 3^rd party system to issue the final CD.

B.      The goal is for the Loan origination system and settlement system to communicate in order to make this process electronic and prevent the rekeying of lender fees and calculations populated by the lender as well as title fees, pro-rations and property related info. done by the settlement agent.

3.       The new Closing Disclosure must be delivered 7 days prior to closing.

A.      The common misconception of this rule is that the disclosure must be delivered within 3 days.

B.      With mail and email being allowed as means of delivery, it is understood that just because the document was mailed, doesn’t mean the borrower got it and just because it was emailed also does not prove the borrow has received it.

C.      If the CD, Closing Disclosure is not delivered in hand to the borrower, you have to give them a 3 day time-frame to open and read the document. That makes 6 days. The numbers also have to be prepared and checked for accuracy prior to being sent, so that makes it 7 days.

4.       The new Closing Disclosure is dynamic. If the transaction is a purchase it will be different from the Disclosure used if the transaction is a refinance.

5. New safety precautions also call for lenders and others involved in the transaction to raise the standard in protecting the borrower's NPPI (Non-Public Personal Information) which is any data or information considered to be personal and not subject to public view. New data encryption software platforms will be installed to accommodate these new efforts. Some of the protected  information includes; Names, Social Security #'s, credit/debit cards numbers, State I.D. #'s, Driver's License #'s, D.O.B. & health records.

 

6.      Some in the industry say the old HUD-1 will stick around for certain transactions. They are also hoping that the CFPB will allow a 60 day non-enforcement rule to assist lending professionals and title agents with implementing the new changes.

For more detailed information, presentations and webinars on the change, click the links below.

Sample Closing Disclosure:

http://files.consumerfinance.gov/f/201311_cfpb_kbyo_closing-disclosure.pdf

Sample Loan Estimate:

http://files.consumerfinance.gov/f/201311_cfpb_kbyo_loan-estimate.pdf

HUD-1 Going Away: Understand the new closing forms & the new closing procedures... What Real Estate Brokers should know... Youtube:
https://www.youtube.com/watch?v=CLjFLD4LsnE

VIDEO-5 Key Areas to prime your organization for the new closing process via Youtube:

https://www.youtube.com/watch?v=Rze5WuhBz0A

VIDEO-How the new closing disclosure will affect the way you do business via Youtube:

https://www.youtube.com/watch?v=gtueKdISgUI

Side by side comparison of the old and new forms:

http://www.consumerfinance.gov/knowbeforeyouowe/compare/

14 pg. TRID timeline of delivery of disclosures and docs:

http://files.consumerfinance.gov/f/201503_cfpb_tila-respa-integration-disclosure-timeline-example.pdf

American Land & Title Association overview of new rule:

http://www.alta.org/cfpb/#education

91 Pg. PDF TRID rules:

http://files.consumerfinance.gov/f/201503_cfpb_tila-respa-integrated-disclosure-rule.pdf

98 Pg. PDF-Guide to new forms:

http://files.consumerfinance.gov/f/201503_cfpb_tila-respa-integrated-disclosure-guide-to-the-loan-estimate-and-closing.pdf

 

 

 

 

 

 

 

 

17 Of the biggest #budgeting mistakes by MSN #Money

17 Of the biggest ‪#‎budgeting mistakes you're making... ‪#‎MSN ‪#‎Money

 

1. Estimating How Much You Spend instead of knowing for sure...

2. Forgetting to Save for the Unexpected

3. Unrealistic Expectations

4. Budgeting Based on Your Gross Income

5. Not Considering Cheaper Alternatives (phone, cable, internet)

6. Too Many Financial Accounts (too many cards)

 7. Buying Too Much House (The McMansion syndrome)

8. Spreading Yourself Too Thin (You can't do everything)

9. Never Adjusting Your Variable Expenses

 10. Never Updating Your Budget (Gotta review and update)

11. Choosing the Wrong Budgeting Software

12. Trying to Keep Up With Friends

 13. Dictating the 'family' Budget (Couples that pay together stay together) Work together!!!

14. Forgetting About Irregular Expenses

15. Stealing Funds From Other Categories

16. Depriving Yourself of Fun Money (Pay yourself!)

17. Thinking You Don't Need a Budget (If you fail to plan, you plant to fail...)

 

I loved this blog! Every single one of these is on point! Click the link to read the full story as they discuss each one of these budgeting mistakes in depth...

http://www.msn.com/en-au/money/personalfinance/17-biggest-budgeting-mistakes-youre-making/ar-BBj3jyW#page=4

 

Dave Ramsey's free online budgeting tool...

http://www.daveramsey.com/everydollar/

 

Happy Budgeting!!!