A Sound Investment....and I'm jumping on Board!

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I found a guy (investor/builder) who will do the following:

You pick any deals that you want to invest in. As many as your credit will allow. He would get them ALL rented out for you, but you may choose when to sell them. The Title Company will give you $13,000 @ close to cover ANY shortfall in rental income vs. mortgage pymt.

When you do decide to sell them off, you would get aprox. 20% RETURN (of course this will depend on WHEN you sell....nobody has a crystal ball).

No Money out of YOUR pocket.

We repeat this next year.

Here are some Q & A's that I already asked this investor/builder:

What are the qaulifications?
You need a 700 credit score or higher but this builder has an in-house credit solution company. Trust me, I already know what you're thinking....cuz I thought the same thing.

Who pays the closing costs?
The builder pays ALL closing costs

What about the taxes & insurance?
The taxes & insurance are already incorporated into these transactions.

Can I put these deals in a Trust?
Yes

Once I do sell them, who can claim the tax?
You (the new buyer) can claim ALL taxes.

Can I quick claim them into my company so my company may claim reasonable business deductions?
Again....yes.

How much will this investor/builder be putting into escrow to cover the rent vs. PITI every month?
$13,000 ~ This is to be paid by the Title Company at the CLOSE. This is also $13,000 PER DEAL.

Will this money be placed at the beginning of the contract or at the close?
At Close.

Will there be separate accounts for each property?
Yes. With 3 seperate closings at 100% financing...remember, your good credit will qaulify you.

What prevents this investor/builder from taking the funds out of escrow and using them for his other uses?
The Title Company prevents this. They are in TOTAL CONTROL.

Let me know if this sounds like something you could learn more about.

Call/Email me anytime. Thanks!

Jeff Rabedeau