I know two people at work that make money this way ,but I would fell much better hearing from lots of people who invest in this or know the pro’s and con’s,Ive been a landload of several properties over the past 13 years and would love to sell one or two so I don’t get anymore phone calls and hard luck stories,or have to go fix things,how safe are 1st deeds of trust,please help thanks Rex
Howdy Rex007:
Not a bad way to invest extra money that you have in a shoe box or a retirement account. I prefer to borrow money and will pay that much interest or more. You will want to make sure the title to the property if free and clear of all liens but yours. You will also not want to loan more than 70% of the value of the property after repairs and to escrow money for the repairs if repairs are needed.
This is the business hard money lenders are in and you may do well pooling you money with one that has a good reputation for investing in sound deals. If the deal goes bad make sure you know who is to step in and take the project over to get the money back for you. Some HML’s will do this asset recovery for you.
Hope this helps
thanks for the info,I’m looking at say for every 100,000 you invest you get like 1083.00 each month as income here in Las Vegas it takes 200,000 for a starter home in a not so good area if your lucky rent it for 1000 a month,I bought it years ago so taxes is only 100 amonth plus insurance is 35 month so for 200,000 you get 865.00 return on your money plus 4% annual return last year here homes went up 41%,but 4% is more the norm?? so that would be another 660 month,total income of 1550.00,but only 865.00 on the front income side???its a hard choice,no one watches my money like I watch my money I would hate to lose a portion of it,because in a few more years 3 or 4 I would love to sell the rentals and live off of ??? I only know of deeds that pay well ??? any more info I would love to hear it Thanks Rex