Made $20,000 - Yes, it works But It's a little more spohisticated

[Account Closed]

You can Fix & Flip, you can Buy & Hold, you can do Tax LIens, you can do Multi Family - I was asked what I specialize in so here it is:

I write this post to encourage those who want to be successful. Yes, it does work. I can't count how many of these I've done in the last 25 years. If you have never heard of it, you have now. No more excuses. Go do it!

Subject To is actually what I do. I buy properties by "taking over" the mortgage & the payment of the mortgage and then I control the property. Ownership transfers to me. I always have $50,000 or less into the property. I give the seller their equity and they move out. Oftentimes I have under $25,000 into the property.

Then I sell the property to Tenant Buyers who give me $25,000 plus or minus down. So, essentially I have zero into the property at that point. I collect a payment from the Tenant Buyer "up front" as a down payment, usually within a month from when I've bought the property. Then, their monthly payment to me covers my payment on the mortgage and usually I get $500 to $700 per month *more* than the payment I am making.

I make my payments on the underlying note and keep the spread (the $500 to $700). I am happy for the contract to run for as long as the Tenant Buyer wants before they refinance out. The longer it runs, the more I make. So, typically on a $200,000 property, I spend about $25,000 to control it, I get $25,000 back out immediately from the Tenant Buyer, I have a spread of $6,000 to $8,400 for each year, so a note that pays off in one year totals $31,000 plus or minus and a ten year total is $109,000 plus or minus. I don't know how to calculate CoC or ROI on this, but I love the numbers.