I am about to pull back the curtain and show you how to invest in real estate without contingencies, delays, appraisals, inspections.....tenants, toilets, and termites.
In fact, its what has made your banker rich.
To put it simply: don't buy the house, buy the note.
True Story: Robert bought a house in Florida for 62,000, and borrowed 54,000 to get the deal done. Then the market collapsed, and Robert--a laborer--fell on hard times. His house dropped to 35,000 in value, and his 54,000 note went into foreclosure, got sold a few times...and eventually ended up in my self-directed IRA. For a lump sum of 4,000, Robert got a bunch of arrears erased, got his principle reduced, and is now happily sending his mortgage check for 417 every month. My investment? $16,500. Better than 30% cash on cash return for me, tax free.
And, on top of that, if he decides to move and sells the house for 30,000, do you know what happens? Right, $30,000 less closing costs will be payable to me. (Of course, anytime he is ready to move, I could probably just get the Deed from him directly, if I want the house.)
Meanwhile, when his toilet clogs or his siding blows off or his a/c breaks down, guess who he DOESN'T call!
I am in the note business. This is a great time to be investing in notes. Please call me, I love to talk about how the note business works.