Hello to all current and future investors. Lets share some cash making ideas in this topic.
WORTH PAYING ATTENTION TO:
well you almost have to quaNtify.. there are two types of investors, those with money and those that don't.. a decent credit score doesn't hurt.. further more short gain or residuals???
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YOU HAVE NO DOUGH!!!
Here’s what I’m thinking… IF I HAD no money down, find a fixer and get such a deap discount you can actually finance repair cost and closing costs into the mortgage based on the appraisal and hopefully 3 months mortgage… If u don’t know how to fix things look for someone good but cheap, (maybe a daily labor outfit, u’ll have to screen out the druggies, but u may find a gem)
Flip it or rent it ur good either way…
A) cash positive rentals galore!! LONG TERM RESIDUAL + APPRECIATION
B) Highly marketable CHEAP houses in a society that is out pricing its bread and bUtter, the working man/woman MONEY FOR NOW, WORRY ABOUT TOMORROW AS IT COMES… -
YOU HAVE DOUGH BUT WANT A BIGGER RETURN!!
Second if I had MORE money I would look into to land splitting in suburban areas… such as St David, AZ, which is outside tucson, az…
this is the case becuz ur in town homes is now outrageously expensive… the COMMON WORKING MAN is being priced out of house and home, There fore there is a growin rental market (if you can pay a decent price and not be completely upside down) the common working man is being priced out of house and home, maybe even lease option?> IF I HAD THE MONEY I WOULD DO A MANUFACTURED HOME SUBDIVISION… Buy the traiers repo’d… you;ll find plenty, or just run utilitys and let them BYOMH for immediate money )at least short term) or zoning permits a trailer park which are cash cows… driving residual income…
A) TRAILER SPACES ARE 1/8 ACRE AND RENT FOR 150.00 TO 200.00 A MONTH…
B) I WORKED IT OUT ON A SPREADSHEET AND SAW A REALISTIC 50% ROI… AND A PIE IN THE SKY AS MUCH AS 100% INCLUDING HOLDING COSTS!
Obviously you have to look for these thing but people dumber than u have made it work.
and BTW i’m just getting started so if my thinking is wrong PLEASE CORRECT ME!
MOREOVER, HAS ANYONE HEARD OF A TRAILER PARK CONVERSION? Siliar to condo conversions but they buy the land?? that might be cool idea…
~Think Small, Swing hard!~
Anybody else?
Find all the homes in a given area that are currently on the market for sale in the mls or FSBO or whatever. Go to your title company and and do a “farm of the area” and cross refrence all of the ones with 2nd and 3rd mortgages. whebn you find them, go to the mortgage holder (who probably doesn’t realize the property is for sale) and offer to but the 2nd or 3rd mortgages for a discount. start low at 50% (or lower if you can stomach the embarrasment of the offer) face value and work up to 70%. if they sell to even at 70% of face value, when the house sells in a few weeks or a couple of months you get paid at FACE Value or at a minimum 30% profit for a few weeks or months. if the house doesn’t sell, you still collect the mortgage payments. you could win either way.