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4 Simple Tests to Find Good Real Estate Investment Properties
You're driving along the road when you spot it. There in the middle of a shaggy lawn sits a disheveled property. It may need a good coat of paint, or a shutter straightened out, but it's easy to see that with a little work it could be a little gem of a ...
Commercial Real Estate Guide- Earn more with Commercial Real Estate
Commercial Real Estate refers to the property that has potential to generate extra income for the owner of real estate. Commercial real estate generally includes office buildings, retail properties, apartment units, condos and raw land. Every property ...
Real Estate Investors: Buy, Sell or Hold?
Brandi Brand is Sales Director for Breakwater Mortgage in Virginia Beach, Virginia. Brandi and her husband, Scott also rehab and resell real estate investments in Southeastern Virginia. The following interview consists of common questions real estate ...
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They're sold on late-night TV, hawked at seminars, they sell in books, and, admit it, you've wondered about them--those programs that tell you that you can make a fortune investing in real estate with no money down. Is it true? The answer is, yes, but....
If you can find an undervalued property, use somebody else's money, or do a sub2 deal (check your glossary at the website if you're unsure about that term), it's relatively easy. Undervalued properties are somewhat hard to come by in these overvalued days in most areas, unless you're ready to do some serious rehab work or have a keen insight into market trends in a specific area.
And, most lenders want you vested in the deal with some significant cash--understandably. Why should they take all the risk? At the very least, they'll want you to be able to show that you can maintain the property until it turns around or that you can turn it over quickly and profitably (which usually means selling it to somebody willing to pay a premium because of less-than-great credit).
BUT, don't let this discourage you. Instead, let it sharpen your insight as to what makes for a good deal, understand how lenders view them, and think creatively about financing so that a good deal can be had by all. Here's one way.
Find a motivated seller, and line up a partner who's seeking a good return. Form an LLC with the buyer. Have the LLC buy the property at a discount from the market rate in your partner's (the buyer's) name--it's his money, after all. Next, run a "for sale by owner" ad, stating that "poor or no credit is okay." Your phone will ring. They'll pay more to get in, but they'll have to be able to pull together a decent (10% or more) down payment and have a solid job. Your investor partner gets that cash to get his investment back. Then, sell the property to the new buyer and split the monthly cash flow with your partner.
You can repeat this process a few times and have a significant monthly cash flow, all with no cash from your pocket. Your contribution will have been putting the deals together. So, yes, "no money down" can still work, if the right people are in the picture. Keep your eyes open for possibilities, your contact list current, and your ambition level high, and you can do it.
About the author:
Lynn Stonebraker has worked all sides of the real estate industry, from construction and supply wholesaling to investment banking. Her ability to simplify finance and marketing keep her busy consulting. You can profit from her training by subscribing to her weekly newsletter, "Successful Real Estate Investing," available at Real Estate Info.
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Jill on Money: Real estate, munis, life insuranceCBS NewsTo understand the issues surrounding the Facebook IPO, check out this quick video: The real estate market seems to be bottoming, according to experts like Ilyce Glink. I take that call pretty seriously, since Ilyce has been covering the housing market ... |
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Real estate spotlight, May 25, 2012Seattle Post IntelligencerBy AUBREY COHEN, SEATTLEPI.COM STAFF Is your dream to live on Lake Washington? How about in this home, 8750 Sand Point Way NE, listed for $3.395 million? The 6200-square-foot house has five bedrooms and 4.5 bathrooms, including a master suite with a ... |
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