Real Estate Millionaire Reveals...
"How You Can Make a HUGE MONTHLY INCOME from Real Estate By IGNORING EVERYTHING the Real Estate Gurus Talk About and Discovering the Exact Step-by-Step Investing Blueprints from a REAL Real Estate Millionaire!"
Step-by-Step Real Estate Investing Secrets Revealed!
Guess what? You shouldn't believe anything anyone tells you about real estate investing UNLESS they actually invest in real estate themselves!
How? Because many times these experts will drain you of every dime you have teaching you worthless theories about real estate investing that NEVER WORK!
Every "Expert" Out There Talks About Investing in Single Family Homes! WHAT A CROCK!
Most of the late night television infomercial real estate gurus talk about investing in single-family homes. They talk about buying them and renting them out or they talk about buying them and flipping them for profit.
Because of the foreclosure windfall, the gurus are using this as a profit opportunity for themselves to sell you a pile of books on how to "flip" foreclosures. While it's nice that there is such a surplus of foreclosures, if you buy one...who are you going to sell it to? After all, there isn't a buyer's market yet ready for your listed home. Are you willing to pay the mortgage on it for the next couple of years until someone buys it? Are you willing to sink $50,000 to $100,000 into the house to fix it up before you can realistically sell it?
You can't make money on single-family home foreclosures. Yes, you can get them dirt cheap but you have to buy them "as is" which means they are a wreck and will cost you an arm and a leg to fix up! And you have to be willing to wait at least 2 years to get a good price on the resale of your foreclosure!
This is NOT a good strategy to use. It sounds like a nice theory all packaged up and wrapped in a big bow around the pile of books, CDs, and DVDs you bought from the real estate "expert" but when you get down to business, you can't make money using this method.You also can't make money buying and renting out single-family homes like one late-night tv guru talks about (and has been talking about for the past 20 years). Why? Here's the problem with that nice and neatly packaged "theory":
All Multi-Millionaire and Multi-Billionaire Real Estate Investors Invest in...
Commercial properties! They DO NOT invest in residential properties unless they are for personal use only!
What is a commercial property? Commercial properties include office buildings, industrial warehouse space, retail strip malls, gas station properties, and apartment buildings!
My main forte is with residential-commercial or multifamily properties (a.k.a apartment buildings). I love apartment buildings because they always survive and thrive during recessions while other types of commercial properties suffer because of so many businesses going bankrupt.
Let me tell you, when all of the houses started going into foreclosure left and right, this beefed up my apartment building business because all of those people went into apartment units. And because these renters have damaged credit due to their foreclosure or bankruptcy (or both), they will be in an apartment for at least another 10 years until their credit recovers, they can save for a down payment, and they will (possibly) be ready for another home of their own.
Many new and aspiring real estate investors are afraid of apartments because they are intimidated by the size of these buildings. They foolishly believe they will be the ones at 2 AM fixing broken toilets or handling difficult tenants. Even worse, some mislead people into believing that only "drug dealers" live in apartments (tell that to anyone who lives in New York City and they'll laugh at you) or that you have to get the bottom of the barrel buildings (Class D) to get your foot in the door.
The biggest obstacle for new real estate investors is that they believe they have to come up with 25% cash down to buy an apartment building. In fact, you can get a building with no cash and no credit using my specific streamlined strategies that no one else will ever tell you about!
Because of the lending restrictions on residential loans, you WILL have to put down 20% if you want to purchase a single-family home for investment purposes in this day and age. Don't think you are going down the right real estate guru path by choosing single-family homes as a means of investment unless you have a 700+ FICO score, no bankruptcies in the past 5 years, no mortgage "lates" in the past 3 years, and no foreclosures in the past 5 years AND you will need 20% cash down.
And if you don't have any of the above criteria lined up, you WON'T be able to participate in residential purchases like the gurus on late night tv will mislead you to believe!
You can purchase an apartment building with no cash and no credit because commercial lending institutions and banks have DIFFERENT CRITERIA when determining whether to loan you the money; they use the CASH FLOW of the property and NOT YOUR PERSONAL CREDIT and NOT YOUR PERSONAL INCOME as a deciding factor.
A HIGH DEMAND is Predicted for the Next Several Decades to Come!
Apartment buildings will be in high demand because of the following reasons:
And you CAN acquire these buildings with:
Bottom line: if you don't have the correct tools, don't bother! Period!
Unlike Other Real Estate "Experts" I Don't Mislead People Into Believing They Will Be Doing REAL FUNDED DEALS When You'll Only Get to Do LEASE-OPTION-Type Deals When Their "Secrets" Are Finally Revealed!
There are apartment building gurus and experts out there who lead their prospective customers into believing that they will be doing real apartment building deals (meaning that they will be lender funded, close escrow, change title, and the customer will be the legal owner) when in reality they are only teaching techniques to do LEASE-OPTION deals to "take over" a property without a legal change of title.
AND THAT CAN BE DANGEROUS!
If you are "taking over" a property without it being funded by a lender and going through escrow then the property never changes title or legal ownership. This means that if you are doing well with the property, making lots of money, and getting more tenants for the "former" owner, he may take the property back from you! You would have NO LEGAL RECOURSE because your name isn't on the title!
And who needs that worry!
My techniques, secrets, and strategies will show you how you can go through the traditional escrow process where you get a conventional commercial loan and take REAL OWNERSHIP of the property without any legal problems from the "former" owner as there would be in a lease-option deal!
Yes, you can get a bank loan for a commercial property with poor credit and with no cash. No, a commercial lender will NOT give you 100% on a commercial loan. That's never happened in commercial finance and never will.
You CAN get a first-position (main) lender to lend on up to 85% of the loan-to-value (LTV) or purchase price of the property and use my NEWEST SOURCES to get the other 15% as the down payment AND show the bank that the money is YOURS and not someone else's money. The banks now need to see that you have "skin in the game" as they call it where you have CASH DOWN otherwise they won't fund the loan. And you can show them this "skin" by using my secret strategy in doing this!
Or You Can Use "Partial Owner Financing" to Get a NO MONEY DOWN DEAL to Close!Recently banks and lenders decided that they no longer will accept the property seller to "hold paper" or part of the mortgage if they are to fund your property purchase. This means that you can ask a seller to offer 25% of their equity (for example) and the bank can fund 75%; you would then pay the seller back the 25% after the close of escrow on a "private mortgage" second.
Now banks aren't allowing a partial owner financed "seller carry back" on these kinds of deals!
I have one private lending institution that will still do these types of deals. As long as the seller is willing to temporarily give up his equity (which has to be at least 25% of the purchase price) then they will fund 75% LTV of the transaction.
This is UNHEARD OF in this day and age! I have to resource that can help you make this happen!
Is it realistic to believe that a seller will "carry back" a private mortgage second in this economy?
Yes, yes, and DOUBLE YES! Many apartment building owners are trying to sell their property so they can retire. A lot of them have owned their properties for DECADES and they aren't willing to wait around for the economy to recover before waiting to sell their property.
Right now many property owners are AUTOMATICALLY offering a minimum of 15% seller financing on any property deal WITHOUT YOU ASKING. To add another 10% is NO BIG DEAL if they are willing to offer at least 15%!
Investing in Apartment Buildings is Definitely NOT an Opportunity for Everyone!