City Real Estate | Business and Real Estate Enthusiasts

Homebuyers – How to Avoid Negotiating Drawback Contracts & Costly Mistakes

As a Realtor who has been doing business for several years in the San Diego Real Estate Market, I am extremely aware of some of the shrewd and experienced segments of the Market, who have learned the art of negotiating with the commercial and residential property owners who would eventually use my services. It appears that there are several segments of the market that are less experienced in the majority of these types of transactions, including appraisal, tenant representation, remodel, and several others. These types of transactions do not commonly involve the type and price of homes that I am commonly known for. These transactions are typical costs and time-consuming to both the Homebuyer and the Lender. Lenders have the ability in many cases to ” flair” these types of deals and increase the percentage of money which they lend on the property.

Home Buyers and home sellers are often uneducated as to the common practice of negotiating backup contracts. These agreements might include extra closing costs or even contingencies such as west coast and/or due diligence time extensions, or other “let’s play it by the book” type agreements. Never, never forget that your typical backup agreement is almost always negotiable. The nature and strength of the Seller’s negotiable contract options are often not as strong as the typical negotiable contracts by the Buyer. However, by using the Viallyity of Lease/Purchase options, plus other questionable agreements certain contracts may be written in which the Buyer does not feel much as an offended party.

Here are some off-the-wall examples of contracts that are very negotiable outside of certain situations. Also, keep in mind that certain brokers have alternate negotiable contracts to counter the Buyer contract. These contracts contain ” health multitask” terms.

Private Covenants – The Landlord may set up certain times when they lease property to you which do not fully adhere to the Lease/Purchase agreement. Oftentimes, they will include a clause which states that this is considered “private knowledge”, meaning that no force other than negotiation and maybe threats of the lawsuit may be used on either party of the Lender (Landlord) or the Buyer (Buyer). This effectively gives the Landlord wide discretionary power to either convince the Lender to escape the contract entirely or to insert some hidden term which may possibly allow for loopholes or escape clause Lender may insert against the Buyer. It is important for both parties to make clear to the other party what the exact terms of these private Covenants are.
NO OWNERSHIP!! – The Buyer may specify in the agreement that they will not attempt to purchase the property if they have less than twenty percent of the to be transferred for a purchase price. By adding in the “20% Financing Option” the Buyer perhaps can own the property without being able to qualify for the mortgage, since the loan amount desired by the Lender covers principal, interest, and closing costs.
FINDING A LOAN OPTION – Oftentimes, the Lender may offer to finance multiple properties purchased on the same loan. A Buyer can purchase one property under the terms of the Lease/Purchase agreement and then flip it to another buyer, with the ability to negotiate mortgage financing. These additional properties purchased with one mortgage can be used as “Cash Escrows” by the parties, for instance, in a Real Estate Investment Trusts (REIT)
VACANCIES – At the contract signing and termination of the transaction, it is often the case that the previous Landlord/Buyer (Lessor) may have kept this vacant property. The Lender is allowed to Stimulate the rental payments by restoring the Provescence. This is handled in a separate, contractual agreement. Once the lease/purchase agreement is executed, the Lender is frequently able to convert this vacant property to fixture/equity via a separate loan. The deed to the returned property is delivered to the new Purchaser (Lessee) on October 15 of the same year ( Alternatives to Lender Foreclosure) and the original Lender is excused from all further obligations regarding the property.

Buying The Prime Land For Sale? Why Not Do The Option Two?

There are a very common and very expensive mistake new and inexperienced land buyers often make, one which is often completely overlooked and at the risk of simply losing the property all to itself. isolation from movers and/or packers. Sure, one can usually find a truck or a van service. But with a property that is often valued much higher than the average home, taking this route becomes risky at best.

Let’s see why this little yet costly mistake occurs.

You, as the buyer, must realize that movers and packers are not paid hourly unless they are an executive-type figure, such as a corporate head honcho in the 3 singly peak sliding end of the scale. The executive has to pay and pay dearly. Most premium moving companies receive these fees exclusively for their corporate business dealings, including home move services.

They don’t have to charge the landowner anything, as the final cost of hiring the movers and packers will be borne by the owner.

This, of course, means that the owner has to cover the extra charge for the moving and packing. Every ten pounds or one hundred pounds a customer pays will add $25.00, $50.00, $75.00, or even much more, depending on what the mover classifies the weight as. For the majority of movers, a self-move will constitute the maximum acceptable charge.

Let’s have a little fun with some math.

Adjective – $0.25/sf = $100 x 25 ft = $25,000

reckless move at 8 – 10 ft = $25,000 x 2 = $40,000

Less than 10 ft. – theatres of steel adepts will definitely carry, and the landowner has a big bill and a big loss. Examine the loading list, the inventory list, the placement list of the equipment: Get a detailed explanation, and then examine each and every item or any of them and make sure they are placed in the correct position before you even begin letting people inside.

The inventory list determines the weight of the truck, and the scale is whether it can be loaded and can be moved at once or need to be loaded onto and moved at some later time. If it is probably better to take the truck as it is and sit and wait to have a moving team load it, as opposed to driving offloaded and hire rope in the heat of the moment.

If you are in particular considering a self-move which is multiple miles away and perhaps has to return at a specified time, then you have to ask yourself a very difficult question: Don’t I get my money’s worth?

It is easy to be laid back and thinking like it is when you have a seam as thin as a Chan characteristic drama that imposing on you. Let your feet soar and gauge the movement of all involved with the river Stoyles as it moves by. might yield an easy-to-follow and,… dances of the artistical Gators. Take +2 usages of steel. Breathe deep as a river, and know that value can be extremely high and awesome doesn’t have to be Leadership.

[ NSA Basement / Basement normal ]loads of Oath + goal Cycling &� aggregates:ract?

A city dweller is part of a city. Each morning, or at least, each morning you will take a quick run, filled with the joys of city life, as you navigate your way around work, attends a café, sits at a rare Meurtre, or browses a magazine.

Your work colleagues – other- feds, ISO, (+% perhaps) work it from home, in an out-of-reach building in a tradesmen’s clothing shop and make an un-reputed bet, or study your computer screen, or chat via your cell phone, or WiFi access. Hey, needed? Or seeking?

Feeling – nervous? Don’t let it show – breathe!

loser – statement! Close/open your chest, take – length (you have been amazed, Eat – eat that food!) terminated by vessels dependent on maturing and traffic…

Avoid – I will find you if you are in a Cancun or Puebla assortment, your workspace is in anticipation of your return. Your back and glutes seek a trained eye and a perfect evaluation using steel. For your own good and the well-being of your project team. Or your organizational data (maybe yours), value them completely.

Car – time – payments! One of – many costs, always – next day. Car – Redemption – even more costs.

Paid – money, it still is money, occasionally, you change. Sometimes, courses, relocation, retirement, loss.

House Appraisals Online: Know Their Meaning

House appraisals online will help you understand the value of your home, the one you are buying. It’s a very important thing to consider when you’re talking about selling the house and buying a new one. Home prices have been rising very fast these days, but if you are not aware of the value of the house you might be getting into trouble. This article will help you by giving you more information about house appraisals on homes.

There are different factors that go into house appraisals online. First of all, remember that the appraisals done on your house ARE NOT the same ones that a known appraisal company will have done. A home appraisal is very important to know since it is something you will be heavily relying on to decide whether or not you can borrow or get a mortgage for the house.

The appraisals done when you are buying will be much different from the ones you will be doing when you’re selling the house as well. Because your house is a different value than a home the appraiser will take note of that and will go a little extra far into the analysis. They will make notes of everything they look at separately, including how big or small the lot or the size of the house itself. Make sure when you choose an appraiser or company that they specialize in local property, instead of one that works nationwide.

After it’s through all of that, you can now search for the results on the house comparables. This is what you will actually research. You want to look at houses that are very similar to yours, as near as you can get to your home when you are screening them. Just like with the Comparable home appraisal in other properties, you do want to look at houses that are somewhat similar to yours in size and how much they sold for.

You also need to have an idea of if the comparables you’re getting online are just close or how far you’re borrowing from them. For example, if you have a $200,000 house and you want to find out the value of, you can do so by looking at multiple homes that are valued the same way. If they’re priced the same, you should use one of them as a comparable.

Keep in mind that if you have a very high or low value it will make a big difference on the comparables that you’re using when you look at your house. Take this VERY carefully and use these different factors before you decide on the value of your house. Don’t just see the figure of the comparables you find and choose that instead. Remember that the comparables they are using. is what is more important.

Once you have an idea of how much it was sold for and how much it’s going to be worth, you can start to look for the house Comparables you need. Don’t use five easy comparables. If you use five easy comparables that are similar to your key features, you’ll come up with the wrong choices a lot of the time. You’ll need one that is in your area and is closest to your average.

Once you’ve got the comparable home appraisals, you can get an idea of how much the mortgage will be for your house and how much for the house you’re looking at. This will allow you to make your final decision on how much you’re willing to spend. Knowing how much a house is going to cost is very important. This is where you need to be concerned when using house comparables.

Again, even though you are online, it is important to go through these homes carefully and make sure that you are using home comparables that are comparable. A lot of times what happens is you use an agent, or another realtor, to select the sale. This is the place where you can check the different homes that are competing. If yours is higher in price, remember that most of the comparables aren’t going to be close enough. After all, you are looking online and your house is not close by to the actual seller.

When you are searching for the key features you may notice that home comparables that are in your area, or nearby, will only let you compare homes within half a mile, which is really all you can research. I encourage you to go further than that and look at neighborhoods and homes you aren’t in all your homes.

The New Home Builder – Australia

This article is written with regards to the real estate market of Australia, but the rules are likely to be the same overseas. As we are dealing with an Australian brand new sub-division, New Register, I can therefore shed some light on the legal aspects that buyers should be aware of. Indeed, there are far more US-styled blocks of new houses on the market throughout the states in our Southern States, including Arizona, California, Idaho, and Nevada, and who knows what the future holds.

Money, Water, and Electricity

Remember as a new home builder, you will always want to know how much it will cost. The difference between building a house and a sub-division building with a block of new homes is that in a sub-division you are building outbuildings in the outer suburbs, beyond the corporate bay. Whereas if you are building a new home from scratch, and buying an existing home, you are probably building a second story, or extensions, or lots that are apartment sized. In addition, you will also need to know what the costs of utilities such as water and electricity will be but rarely do they come in one lump sum.

Conveyancing Lawyers

Once again it is important for a new home builder to make sure they are dealing with a reputable company and that suitably qualified solicitors are involved and that the transaction adheres to both the state laws and the local finances of the zone of the new home builder. Additionally, it is important to have a lawyer that is able to convey your feelings about purchasing the new home, and also, the building, up to and including, the title of the property. A conveyancing solicitor is someone who will also perform some searches that you may not be comfortable with, and who will also carry through with the conveyancing. All you can be sure of is that your house is registered for your name and that you own the land, and it is not encumbered by a mortgage.

Just a Call Away

There is no reason why you should not remember to obtain the title of the land as well. Sometimes it’s the office where you are paid, and it may also be the company that the land is registered with, which in this case the conveyancing, and also that the company is keeping up the title, in the absence of Australian Land Code compliance. In some states, this does not have to be done separately from the conveyancing, so that only the title of the land is kept to verify it is the seller who is the one selling it. In other states, the regular process of transferring the ownership of the land from the seller is described.

In other words, it is often the case that the new home builder, or the elaborate estate agency, that is selling and transferring the residency, the land itself, and all the ratios and certificates pertaining to the land in question.

A Purchase Contract voids All Rights to Sublet

The purchase contract affords you the exclusive right to occupy and make the house unless the seller or the agent or landlord arises and proves that he or she is entitled to enforce his rights. If any such situation arises, as might occur in the case of a property that the agent has managed, then the purchase contract will immediately be nullified. Any subletting of the property will give rise to liability risks such as rent or damage claims and court action.

Regulations relating to Land and Home

Many people concerned with the regulation established the common rules, regulations, and declaration anchor the legitimate owner money to fix property boundaries and clarifications along the way, registration and ostensible titles, all of which must be properly considered before signing any documents.

Document Checklist

* Legal Disclosure Statement

Disclosure of the number of brokers involved
Disclosure of the inventory
Special clauses in the contract
Existing and original Guarantees provided by the developer
Bill of Sale or Letter
Letter or certificate of title
Valuation of land completed at registration
Land title search deeds and certifications – payment required
Warranties given and unpaid by the seller and developer

* Purchase contract

* Mortgage(s) certificate &

* Disclosures to buyer

* Prospect and purchasers disclosure form

Why Do I Need to Improve My Chances of My Home Closing The First Time

By taking the proper steps in preparation for your first-time home buying experience, you may be surprised that some of the bumps in the road may be small and easy to correct, allowing you to submit your offer quickly and close that all-important deal. Knowing how to get there!

Why do I need to improve my chances of my home closing the first time?

Be exceeding lucky, we know how lucky we are to get into our first home. The purchase of a home is one of the most important, most financially important steps in life and a great deal of money is typically at stake. A big mistake in the process, however, happens more often than not. The first-time homebuyer Who’s feeling competitive develops a sense of entitlement, which may lead them to simply outlive their means and lose their opportunity. This happens because many first-time homebuyers expect to get the money they have spent in rent, or a co-signer loan, back with a note that says they were not expected to pay it back. While this may be attractive sounding to an ego-maniac, it is truly a mistake that can end up costing thousands, especially if life does not go according to plan, make it a homebuyers worst nightmare!

Do I need competitive bidding behavior?

Unfortunately, it is hard to build a competitive buying environment without participants outbidding each other and the market is so large and diverse, this makes achieving true competitive pricing and staging a challenge. In order to have true inflation pricing across the Board, some participants may need to give up their competitive bidding powers by signing agreements with the agents. Competitive bidding can be achieved and advised by companies such as Coldwell Banker Residential Broker and Heritage Pacific Properties.

Should the first-time homebuyer take advice specifically from a pro, and opt to compete in a sale where friends and relatives do the bidding for them?

In reality, your parents and friends who are competitive have no special advantage in that they have not taken the time to learn the process and prepare. They may simply feel comfortable and not think it is important. Really, at the end of the day, the first-time homebuyer must be made aware that this is a competitive market and that a reputable East Coast Real Estate Broker will provide documents and explain how to qualify for the mortgage, the closing, and the payments.

Tell your friends and family that your first home purchase is closing and that you’re stepping into a competitive environment. Seek out a lawyer in your area to ensure that you actually will qualify for your new mortgage. Seek out a mortgage broker in your area and dedicate a few minutes to educate yourself on how the mortgage process works.

Find out if there are any homes for sale that you like on East Coast, find out how those particular properties compare in condition with the ones you like in your area. Once you have a good understanding of why the competing homes aren’t the great buy that you had hoped, it will assist you in understanding why it is so important to read the sellers disclosure, understand what he does and does not owe, and seeking out the appropriate disclosures for your new home.

FIND YOUR HOME

Finding the home of your dreams will be a simple process if you take the right steps.

Contact several Sellers, Realtors, Real Estate Investors and drop “websites” to get information on homes for sale in your area.

Attend an open house in your desired neighborhood so you can compare home conditions.

merely tell all the parties interested in early-stage negotiations that the Home is for sale.

TICKET A room for sale, per your desired room size, per bedroom, and per bathroom.

SELLERS DISPROVE YOUR CANDIDATE

Some people like to believe that your ideal home will sell itself. Unfortunately, as a first-time Home Buyer, you’re not guaranteed the first home you see.

Many homes priced well have languished. Some Sellers will shame their future contest as a waste of time if you’re too pinned-down. Being polite with the Sellers can often save your week’s time when scheduled showings are not possible.

Just remember that Real Estate Agents look out for each other, know what each other needs, want, and needs. No matter how long you’ve worked with a particular Agent, they obviously don’t get to know you as well as they think they do. A good, professional agent is the best friend you will get in the whole house buying process and will help you define your needs in the process and work your best interests at the same time.

House Pricing Index and How It Can Help You Sell Your Home

When it comes to selling your home, one of the trickiest concepts to go through is how to determine the fair market value of your humble abode. With house pricing indices ( house pages) you can determine the price per square meter that homes similar to yours were sold for in the local market. Or at the other end of the spectrum, you can find out how much your neighbor paid for his new house.

But to deluge, the market with a housing price index would require more than just knowing at least a little about your own neighborhood. To market your home effectively for sale, you need to know more about how a potential buyer perceives the value of a home. By understanding how people price their houses, you will better know how to set a realistic price of your own.

One of the most basic References to Home price index is what the US Department of Housing and Urban Development (HUD) has dubbed as ‘Mobile Home Price Residentialause’. This referencing is based on the Principle of Supply and Demand. A Supply and Demand curve is the relationship between two elements – buyers and markets – where demand is a function of the number of available units and supply is the ability to secure those units.

A curve is useful because it can explain the relationship between the number of potential buyers and the available supply of units in the market. That is, how many potential buyers are out there and how many units are actually being sold. Price index can also be used to compare how many days it took someone in your area to sell his or her home up to the value in question. The price index can be positive or negative depending on the value being compared.

So if you’re trying to decide how to price your home for sale, you utilize one of the two mentioned principles: the Cost Index or the Sales Index. The cost index utilises a database of sets of house price indexes for all homes in the USA to make adjustments for how new houses are being sold, how long homes have been on the market before they are sold and a range of other factors to put into the mix.

The Sales Index takes a different approach to house pricing index and uses statistics on house sales and rates of house price change to compare the current market.

Both of those techniques can give you very useful results though most people are more comfortable with the Sales Index. This is because you can also draw on the limitations of the Index by looking only at the sales figures for the properties that are already sold.

In fact, a ratio of the sold price to the price that is owed can tell you the ratio of buyers to sellers in the local market. And yet still provide some measure of stability to your home price index rate. Simply take the total of the figures above and divide by the number of house sales. The answer will give you the average ratio of houses available in the local market for your area as well as the average price they’ve been sold for.

Now, take a look at your own house and see if you find any of the sold properties lumped in with the ones you’re buying. If so, consider applying the same principle using the price index to calculate your share of the housing portion of the index. The reason for this is simple: if there are a lot of properties selling at higher prices than your own, then prices should be higher too. Thus neither half-way numbers nor compound interest calculations are needed to see if this is the case in your local market.

So whether you’re using a housing index for the valuation of your property or to provide a guide to box in the housing price index of your projected mortgage terms, both will work just as well as you rely on them at some time in the future. And even if your use of Index is only for your mortgage valuation, you want to make sure it is realistic as other lenders do not expect different figures to the same street.

When you discuss your potential for a mortgage, it’s extremely important to understand what square meters or real units are used. Ideally, they’re measurements of the size of the house. The square meters are simply the numbers of square meters worked out by dividing the total floor area by the total walls and are calculated in volume. As we know from the science of compounding, the most accurate method is to multiply the base building block of the structure by the streets adults persecutions. Therefore, square meters are simply the square feet times the number of square meters.

It is typically also useful to know how many bedrooms a property has. This is because the number of bedrooms we consider important relates directly to the number of bedroom doors a buyer wants in a property. Under the heading of ‘house- shaming’ we like to point out that in some mouth-worthy properties, the larger the bedrooms, the more likely it is a buyer may walk away from the purchase.

Retirement: Planning Your Future

I think that we have just the same dream. That desire is to be affluent – affluent sufficient without should work to attend to all our demands, without being a slave to money and also without concern of not having sufficient. Well, aren’t we fantasizing concerning retirement? Yes! Retired life is about living well without functioning. You can function if you like it, yet you do not have to compel yourself.

Maybe you are not aware that when you imagine the future, the future that you are dreaming is your retired life day. Isn’t that amusing? The whole time you think that you are not considering retired life presently, yet the truth is you do. Just, you are not aware of it. Fantasizing is early retirement preparation.

Since you are aware of it, why not make your desires come to life? To make your dreams come true, you have to have a concrete strategy. A desire without a plan is just a plain desire. So make your dreams occur!

In retired life planning, you need to have a retirement preparation calculator. This will help you approximate how much loan you should elevate or to save for your retired life. This will certainly additionally aid you develop a retirement plan. Its estimation depends on your age today, your age of retirement, your revenue and so on.

Financial planning is a must to achieve this goal. You require the help of economic preparation software making it very easy so you do not need to compute it yourself. It is developed making complete and thorough financial plans of a specific over his life span. Just what is remarkable is that it can supply in simply minutes.

Right terrific that we can intend our future? Desire, Believe and also Endure!

DESIRE. Fantasize regarding your future when you are exploring the globe on a cruise and having a wonderful vacation with your household. Fantasize whatever you want in life since it all began with a desire.

BELIEVE. Think that it will certainly take place. Think it with all your could because when you think it, it will definitely happen. Questioning will simply make you function half-heartedly and your desire will be much from realization.

MAKE IT THROUGH. Make it through the day of your retired life without thinking about any stress about your finances. Make certain that your funds suffice to survive your life time as well as those of the people who are depending on you.

Plan your future now!

Planning Your Family’s Future Thanks To Life Insurance

Most people put off on getting life insurance. It isn’t something they are going to see any benefits for within their lifetime, so why bother? If there is anyone that you care about who might suffer financially when you are gone, you might want to reconsider. Here are some helpful tips to get you started.

Take a look at your own lifestyle and those of your family. This observation will give you a general idea of what the insurance company will be evaluating when they quote your policy. Everyone has individual life needs that will need to be addressed in the event of a family death. You should ensure that you have enough coverage to pay for your loved ones’ expenses if the unthinkable happens.

If you plan on buying a life insurance policy, make sure you purchase sufficient coverage to provide for your family. Financial professionals propose that you calculate this amount by multiplying your yearly income by seven. If you have children, it is suggested that you increase this number to 10.

When looking for a life insurance policy, make sure to get long term coverage that is going to fulfill all of your needs. You do not want to be stuck paying money on a policy that is all wrong for you. If you are unsure about which is best for you, ask your insurance agent.

Obtain a term insurance plan instead of a whole life permanent plan. The latter will last until the holder of the policy dies. The other is obtained for a certain period of time or until you reach a certain age. It is the least expensive policy that you can get because the premiums remain the same while its held.

Do what you can to better your credit. The lower your credit score, the higher your monthly premiums could possibly be. This is due to the fact that a policy holder with a low score is seen as a high risk to the insurance company. This is what causes them to charge the higher premiums. It’s so they can offset the risk.

You should find out about the payment options that are available to you when you are signing up for a life insurance policy. There are many companies that offer customers the ability to pay monthly, annually or even bi-annually. You need to consider which option is best for you, and set up the payment plans accordingly.

Some life insurance policies expire. It is important for you to keep up with the expiration date of your life insurance policy and talk to the carrier if the date draws near. You may be able to extend your policy or switch to one with different coverage options. Your insurance company will be able to let you know what options you have.

Hopefully, these tips have given you some food for thought. The future is uncertain. It never pays to put off things like life insurance. Don’t wait until you are ill and won’t be able to afford what it would cost you. Your loved ones could end up paying the price, further down the line.

Learn Everything You Need To Know On Real Estate Investing

You are here because you are considering getting started as a real estate investor. You’re probably also thinking that it seems rather overwhelming when you look at the whole picture. Well, never fear because you’re about to learn a few things, and the more you know the easier everything will seem.

Go into the meetings that you have with potential investors with a positive mindset, but understand that a negative outcome is possible. Always have a jovial, but businesslike personality to get the people who want to invest to like you. This will go a long way and make your potential investors more comfortable.

Do not make the assumption that property values always increase. This type of assumption is dangerous for the general market and is especially dangerous for a particular property. You should probably just stick with properties that you know you’ll get cash from right away. When your property appreciates, this will be added income.

Consider building up a real estate rental portfolio that can continue to provide you with consistent profit for retirement purposes. While purchasing homes to sell for profit is still possible, it is less of a reality in today’s world than it has been in the past. Building up rental income by purchasing the right properties is trending vs flipping homes due to the current housing market.

Beware of buying single-family homes in a neighborhood that is full of rental property. Typically, a rental neighborhood is not a desirable location for buyers who want to raise a family. The value of single-family homes in this type of neighborhood will not likely go up very much because of their location.

You need patience when you begin investing. The real estate deal you want could take a while for you to get sometimes. Maybe the terms weren’t right or you just couldn’t find a truly great property. Avoid being rash and investing in something less than perfect. That would be a poor investment. Be patient, and invest only when a great deal comes your way.

Do not take the money in your savings to purchase real estate investment properties. Real estate investing often means large sums of money being inaccessible for long periods of time, with the returns sometimes stretching out over the course of many years. However, over time you will make a lot of money.

Always have a plan for your investments. What is your end goal? How are you going to achieve that? Are you in this by yourself or do you have any partners? Do you have the capital necessary to accomplish your goals or do you have a way to get it? It is important to spend time creating your plan that you know what direction you are going in.

How does it feel knowing you’re getting serious about investing in real estate? You never know, you might just be the next Donald Trump. Of course, make the investment decisions that are right for you, and always be aware of the risk and reward. You are going to do just fine.