Hogue Properties LLC

Description

We have created this page to provide buyers interested in a lease option with as much information as possible about the process and our company so you can decide if it is something you want to pursue further. There is a lot of content here divided between articles and other resources, FAQ's and testimonials. If you ever have any suggestions or questions you can send them to me through the contact page. We also want to make sure we are communicating with everyone interested in lease options. I receive 20-30 calls a day and most are to get information that is all right here, so bookmark this page and if you are interested in one of our properties or our program go to the Prequalify tab, take two minutes and fill out the form. This way, when new properties become available that may suit your needs you will be notified before they go on the market. It will also help us focus our acquisitions on areas our tenant/buyers like. The real estate market is as challenging now as I have seen it in the 10+ years I have been investing and it requires a different approach to move houses. The latest statistic I read is that only 25% of potential home buyers can qualify for a mortgage.

My grandfather, a self made businessman with an 8th grade education had a saying, "Never let a man farm your field unless he owns a couple acres himself". What he meant was that you need to do business with people who have skin in the game or something to lose. This is where the banks, the Fed and the politicians have failed us. Because they were either too stupid or too arrogant to realize the simple lesson that my uneducated but very wise grandfather taught we are now experiencing the worst economy since the Great Depression. At the peak of the real estate market in 2007 no doc, zero down loans were common along with sub prime loans and some investors, including myself said this was a recipe for disaster. Like my grandfather said if you don't have skin in the game it's too easy to walk away. The saddest part is that walking away doesn't have the stigma it once did. When we see American icons like GM, CitiBank and American Express taking hand outs from the government it somehow makes it OK to walk away. When we experience foreclosures at these record levels the whole house of cards comes tumbling down.

Other strategies are to make sure you are never more than 30 days late on anything. With your credit cards make sure your outstanding balance is never higher than 30% of your credit line. For example if the credit line on your credit card is $10,000 don't ever let your outstanding balance be over $3000. Be aware that every time you apply for credit and your credit is run your score will go down slightly. Don't ever cancel a credit card, just pay them off and quit using them. If you have had a card for 5 years and cancel it you also cancel 5 years of credit history. Lastly, no credit is just as bad as bad credit. The lender is looking for proof that you can handle the credit they are considering extending you so if you don't have 3 trade lines you need to get them and prove you can handle it. Here are some resources that can help you be a winner in the credit game. The Franklin Financial Group is a full service credit repair agency and mortgage broker. For $99/mo they will work on your case to remove any legitimate disputes and if you let them originate your mortgage loan they will give you a refund of your payments.

Many people ask me if I am a Realtor and No I am not. I am a full time real estate investor with over 10 years of experience. I have done hundreds of transactions including lease options through my company, Hogue Properties LLC. Over the past two years our business has been almost exclusively lease options.

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