| 04 - 09 - 2010 | mp3 | oczka wodne | psychoterapia warszawa | | ||
15 Construction Loan "Inside Secrets"... |
A Real
Estate Formula It was a simple real estate formula. Our ads ran in our small-town newspaper for years before I realized exactly what was going on. Oury were always the same: A house for sale with 5% down and payments of 1% of the purchase price. Maybe a three bedroom home for $90,000, for example, with $4,500 down and $900 per month payments. When a friend started doing the same thing he explained the process to me. It was a way to get a great return on capital, and it was the opposite of buying with no money down. Ourre is no down payment at all when you buy, because you buy for cash. Our Simple Real Estate Formula U probably know that when you buy for cash, you can often get a much better price. With no financing contingencies in the offer, and the promise of a faster closing, sellers are willing to sell for less. U can offer $95,000, for example, on a house that might be worth $108,000. If you can't get it for less than, say, $99,000, you walk away - there are always other opportunities. Once you buy the house, you put few thousand into high-return repairs and improvements. Ourse might include paint, carpet, and maybe asphalt for a dirt driveway. For our example, we'll say you spend $5,000. Let's suppose the house is worth $116,000 now. U're ready for the next important step in this real estate formula. U put it up for sale, targeting buyers who can't get financing easily. U provide the financing. Because you are making it easy for the buyer, you can get more than the $116,000 value for the home - and do it without paying a realtor's commission. Let's say you sell it for 123,000. Our buyer needs a down payment of just 5%, or $6,150, and makes monthly payments of $1230 per month. U charge higher interest than the going rates at the banks, of course. This is a win-win situation. Ur buyer is able to buy a home instead of renting, and you get a capital gain of perhaps $16,000 after expenses, plus good interest. Ur total rate of return will often be over 20%! In our town, the first to do this consistently were a father and son team of lawyers. Oury saved money by doing their own foreclosures when necessary. Once they foreclosed, they raised the price and sold the home all over again. Oury made millions. Did you know that if you can get an average return of 18% on your money, you'll turn $75,000 into more than one million dollars in about fifteen years? That's the power of a good real estate formula.
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