Updated over 5 years ago on . Most recent reply
Doing what it takes to succeed in today’s market
Buying real estste is something we do for passive income. When you buy real estate; you buy for cash flow or appreciation over a period of time. There are many other strategies that can be used to obtain real estate creatively. In today’s market; these opportunities present themselves more than you may think. A few of those ways will be listed below. The most common was to purchase a house is to go to the bank and obtain a loan from a lender and make a monthly payment for the next 30 years. I am going to tell you that there is a better way to purchase real estate. In today’s market you can still purchase a house with OPM (other peoples money).
What do I mean? A seller who is interested in selling their house but willing to wait for some of their money may be willing to hold part of the mortgage. Another term for this is owner financing. The seller will get a portion of the payment up front. Some sellers require 30% up front. Then they will hold a mortgage for the balance. The terms are negotiable between the
Buyer and the seller. When the last payment is made, a release is signed by the seller and you have a property that you own with owner financing in place.
There are many other strategies that can be used to succeed in the market today. Stick with what works and don’t reinvent the wheel.