Yesterday, I received a call from a man that had been referred to me from a prior client. He wanted to purchase a house, but his credit score was in the low 500's and he had no money down. He said he was tired of paying rent and throwing his money away. He said he knew he could make a wad of cash.
We spoke extensively and I recommended he set a plan in motion to get his credit in order so he would be in a position to purchase a house in the next couple of years.
As the conversation progressed, it was apparent that he was not interested in waiting to buy a house. He wanted one now that he could "make a bundle on."
'Well, what about buying a house using a credit card?' he asked. YIKES!
'Could I just put the down payment on a credit card?' YIKES AGAIN!
'My girlfriend's mother would let me put it on her credit card.' TRIPLE YIKES!
'What about knocking on doors and finding someone who I could just take over their payments?'
'The banks are dying to get rid of the houses they have, and I'm happy to take one of them off their hands. You could just tell them that I'm good for it.'
'How about buying a house at auction? I don't know how to do it, but people are making loads of money doing that. Where do I get the list?'
There are no shortcuts in buying real estate today.
And, there are no get rich quick schemes.
A buyer should be educated to the buying process, BEFORE buying a property.
Talk to a full time REALTOR.
And, don't believe everything you hear.
Sandy Shores, Melbourne FL REALTOR®
Specializing in Residential, Investment and Relocation Real Estate
We have a team to facilitate your Short Sale.
Melbourne Real Estate / Palm Bay Real Estate
321-253-4545
SandyShoresMelbourne@hotmail.com
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Serving Brevard County Florida for 15 Years
Brevard County Resident for 36 Years
Melbourne, Palm Bay, Suntree, Viera, Rockledge,
Cocoa, Canaveral Groves, Titusville, Mims, Melbourne Beach,
Indialantic, Indian Harbour Beach, Satellite Beach,
Cocoa Beach, Cape Canaveral
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I buy, sell, rent, own and manage Investment Property.
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