Real estate investing is a hot market right now! People are cashing in on other people’s houses. With the unemployment rate as high as it is now, people cannot afford the house they are currently in. Foreclosures are an everyday occurrence right now. Most people cannot afford to have a foreclosure on their credit report. They are trying everything to get out of the loan. Desperate sale prices, cash sales, and some even try fake insurance claims to pay for the house.
You ask “How can this benefit me?” Well let me tell you something, people want to get out of their mortgage fast. If your home is valued at $100,000 and you owe $50,000 on your mortgage, chances are you’re willing to sell your home for $50,000 to $60,000 to save your credit and put some money back in your pocket. If they don’t sell their house and the bank repossesses them, they will lose everything. People are giving away their homes right now for an unbelievable all-time low. It’s time you took advantage of these deals before the banks foreclose and everyone loses money.
Offering to buy your home at a fraction of the cost may seem shady to the beginning real estate investor. This is because you are going to make thousands on someone’s house that they have lived in for years and can no longer afford. This will make any honest person feel like a thief. Well, let me first say that you are helping them. The homeowner wants nothing more than to simply get rid of the burden of banks calling every day and foreclosure letters. He is doing them a favor as well as putting thousands in his pocket per deal.
“I don’t have the credit or the money to buy a house!” you say? Well, not everything is black and white. There are creative ways to buy homes that don’t require out-of-pocket money or a bank mortgage. One of these ways is called a lease option, in this method of buying a house, you agree with the seller to buy your house for, say, $60,000, he tells him he will give you a thousand a month and pay you $600 a month until you copper. take them out of your house for the rest of the balance within 2 years. Granted the $600 a month is if they have a $500 mortgage payment which would put a hundred cash in their pocket making the deal more attractive to the seller.
During that first month, you advertise your home as “No Bank Qualified,” “Lease Option,” or “Rent to Own,” making it an attractive home for people with bad credit. You should get several people interested in buying the house in a month. When you are going to sell or rent the house, ask how much they have to put down, find someone with at least $2,500 to put on the house you are selling for $100,000 with a monthly payment of $800. Are things starting to add up for you? at the moment? When you find a buyer, get your $2,500 and pay the seller the promised $1,000, which puts $1,500 in your pocket. When you collect your $800 monthly payment and pay the seller the promised $600, that leaves $200 in your pocket.
During the first two years of renting the home, you’ll help the buyer with their credit and put cash in their pocket. When they have built up their credit enough to qualify for the house, they will buy the house for $100,000. Rent and down payment will not count toward the purchase price. The down payment and the monthly payments you are paying to the seller will do it. Let’s do the math in this case. Buyer’s money to date will be $2,500 plus 24 payments of $800 totaling $21,700; The money paid to the seller is $1,000 down payment plus 24 payments of $600 that add up to $15,400, leaving a difference of $6,300 left in his pocket. When your buyer qualifies for the mortgage, you’ll get $100,000 and then charge your seller a total of $60,000 less down payment and monthly payments, leaving a balance of $44,600, so you’ll pocket another $55,400 plus the money. what it raised the two years will total $61,700 off in one offer! Most of the work you do on this deal happens in the first month and that’s no more than 4 hours a week, after that all you do is spend 10 minutes a month cashing a check from your buyer and writing a check to your seller. . If you invest 20 hours a week, you can have time for 10 trades at a time. Get the image? You can earn an executive income from home with a little time out of your day. Learn more about programs like this at [http://realestatepowerinvesting.com].