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Real Estate investing with bad credit!
23 March 2012 | 5 replies
So let's say we agree to pay $600 a month with $100 a month credit towards the purchase.You start you're repairs and complete them in 30 days or less and let's say you purchased $1,500 in materials.Now you place the property on the market because you have the option to purchase "You have taken control of the property with your option".Let's say this deal has taken you 90 days from the beginning to the end.You find your buyer let's say at a great deal of $95,000 - $5,000 below market value at this point you would simply exercise your right to the purchase option and do a simultaneous close.Now let's run the numbersYour option purchase was $80,000Your option credit of $5,300 (Repairs, materials cost, labor & monthly credit)Your purchase price after credits $74,700Your buyer purchase price of $95,000Leaving you a gross profit of $20,300You had out of pocket material cost of $1,500You had 3 payments of $600 each with $100 for the credit purchase with an out of pocket of $1,500Carrying cost of $600, (Real estate taxes $300 &$300 Utilities)Advertising cost $300Closing cost $1,300Your net profit $15,100You simply took control of a $100,000 property for $3,900 (payments, materials, utilities, and advertising) and turned a profit of $15,100 in 90 days!
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Lease Option agreement fell apart
8 April 2017 | 5 replies
Closing: Closing shall be within ___30_____ days from exercise of the option unless otherwise extended by other terms of this agreement.25.
Nick Cecchini
New to REI & BP - Boston seems like an anomaly!
13 January 2020 | 7 replies
I like the market strength of Boston and how you can exercise different rental strategies to get higher rents.
David Powell
SWITCH PROPERTY TO LLC OR KEEP IT IN MY NAME?
7 June 2019 | 2 replies
In regards to your concerns about a bank exercising the Due on Sale Clause, you can check out this article on Land Trusts which explain an exempted transfer from lenders.
Danielle McClelland
Anyone started investing in RE at age 35 or later?
25 November 2021 | 273 replies
Every challenge is an opportunity to grow, like in exercise without resistance, sweat, and pain their is now growth.Best of Luck!
Stan C.
Can I sue state government for damages by moratorium on eviction
29 July 2020 | 34 replies
So, figuratively speaking, government stepped in and put me into debt by preventing me from exercising my rights by evicting a non-paying tenant.
Walker Seid
Subject to
17 June 2015 | 2 replies
have the banks exercised the due on sale clause in his case?
Lane Kawaoka
I quit my engineering job!
12 April 2019 | 1 reply
No vacations after going to 3-4 deal/conference trips.2) I’m not able to start other ancillary businesses.And I ran out of these ribbons to pass out at work…I Used Tim Ferriss’ Fear-Setting Exercise – https://tim.blog/2017/05/15/fear-setting/ “Fears are good.
Greg Woolsey
Suggest creative financing strategy for this situation?
5 March 2012 | 12 replies
The IRA does a lease option back to them for 3 years, very low monthly lease payments, option price at $75K.They get to stay in the house, save cash, and have time to work on fixing their credit.IRA gets a nice return when they exercise the option in 3 years (12%+) after they fix their credit and qualify for a loan.
Account Closed
Driving for Dollars - For Sale By Owner
18 November 2012 | 4 replies
Deals are made not found.What would be good exercise is to talk to as many of these FSBO's as you can tolerate, try and put a deal together.