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Property Investing Secrets 2
Property Investing Secrets:
How You Can Turn A Below Average Deal Into Streams Of Income
When property investing, sometimes you'll get a seller who will say: "Sure, I'm retiring, and I need some cash flow, I need some money but if I deposit it in the bank, I'm not going to get much for it. The property market is falling, there aren't a lot of buyers and they are all beating me up on the price of my house. But if you give me the price that I want, know that I'm not going to be able to live forever. So you're going to have to pay off the balance to me in about 5 years." When you're property investing, you will come across sellers like this. In the past, you may not have known what to do with them. Consider this now; you may be walking past streams of income.
Now, while you're property investing, you've paid $300,00 to the seller and you can turn around and make the property available to a buyer who can't get a bank loan tomorrow, like an investor. A lot of investors who are buying houses get stopped after purchasing 3, 4 or 5 houses because they can't get any more bank loans. Many investors still want to buy property but they're stopped by the banks. So they'd love it if you turned around and said, "Mr. Investor, the house that I've just purchased for $300,000 you can have for $300,000." You don't even have to increase the price of the property because you're looking for streams of income and back end profit.
You make the house available to the next man when property investing for the exact same price that you paid for it and say to the investor: "You make payments to me at the same rate as what the bank is charging." What happens is you've got a buyer who makes you payments at bank interest rates on a house that you didn't increase the price. You sell it to the investor and they pay you 7% interest at bank rates over 25 years. The investor is happy because they didn't have to go through the hassle of getting a bank loan. The investor pays you $2,200 a month electronically into your bank account and you pay the seller $2,000 a month out of your bank account. You make $200 a month as part of your streams of income strategy.
Also, you insert a special condition when property investing where in five years' time your buyer will pay you out at approximately $280,000. You'll pay off the seller at the same time, except at $180,000. You've just made $100,000 back end profit on a house plus $12,000 as part of your streams of income investment strategy.
Rick Otton is the director of We Buy Houses Pty Ltd. He has been property investing full time for 14 years. Rick has completed over 351 property transactions in Australia and the United States.
Rick specialises in creating positive cash flow through a variety of strategies he perfected in the United States and adapted to Australian conditions. He sells home study courses on vendor finance, one year mentoring program as well as a yearly 3 day boot camp on the Gold Coast. Go to http://www.rickotton.com for more property investing information ring 1800 003 588 in Australia.
Prepare Your Property Like A Pro And Boost Profits
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Why Canadian Real Estate is Such Good Value
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How to Choose Your Real Estate Lender
Because you need quick action when applying for a real estate purchase loan, find a lender you can access easily. A lender's quick response signifies good service to follow.
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Selling Houses: Psychological Effects of Landscaping
Buyers think they care more about the inside of the house than the landscaping, but in reality, most buyers won't even get out of their car if the front landscaping lacks the promise of great details inside. Therefore, your landscaping needs to arouse buyers' expectations and entice them into viewing the inside of your home.
Evil Gains Entry
When we open our doors to strangers, we can never be certain what malice an outsider might bring in. Police officers tell us to keep our doors locked with good reason.
Looking into Buying Mobile Homes?
To own a home is one of the dreams every common man cherishes, even from the childhood. With hard work and years of savings, he might be able to build or buy a dwelling for him and his family.
Forclosure And The Durrett Rule
It's probably happened to you..
Before You Buy A House - Top 10 Tips
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Young Couple Buys Ranch with Government Money
Kirk and Tina Sczepanik had a dream. They wanted a ranch of their own.
Why A Final Inspection Is Necessary
In the sales contract, the sellers of your new home agreed to leave all the light fixtures, custom blinds, and refrigerator. When you walk in the home on moving day, to your surprise, all of those things are gone.
Refinancing Your Home Loan? When Should You Refinance Your Home?
If you have a current mortgage and are unhappy with the interest rate or the amount of the monthly payments, it is possible to refinance your home and eliminate your problems. But before you call your lender, there are some questions that you should ask yourself in order to determine whether or not it's the right time for refinancing your mortgage loan.
Buy or Sell First?
When it comes to home buying, the ideal situation would be to find a new home, just as you receive an offer on your existing home. You would then be able to close concurrently and move into your new home a few days prior to closing on your previous home.
Take A Shotgun Approach
An effective real estate advertising strategy entails a 'shotgun' approach. A shotgun approach includes online internet ads, regular print ads in major real estate publications (AJC) of the property's location, as well as popular local area publications (Creative Loafing) and full use of real estate signs.
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