6 July 2018 | 0 replies
Therefore turning the old primary that the equity line is on into an investment property.
7 July 2018 | 10 replies
What investing methods (buy & hold, turn-key, BRRR, flipping, etc)?
7 July 2018 | 7 replies
This would turn the property from an investment into a liability in the short term.
9 July 2018 | 49 replies
Wells Fargo is a bit unique... they get fined/penalized so much that they evidently turned their restitution payments into a formal first time homebuyer down payment assistance program.
7 July 2018 | 7 replies
You need to turn them into a good tenant by having them pay full market rent or you find a good tenant that will.If market rent is $1900 anything below that is charity.
23 July 2018 | 28 replies
They then take those notes and package them with others from similar purchases and sell them along with their analysis to private investment funds.This leaves 45 notes from a package of 1,000 that three professional investment funds, doing intensive analysis by highly trained MBAs, have determined cannot yield even a minimal investment return.These are then offered to the individual investor, who according to those in the industry “with something to sell” (the leftover NPNs and/or “training”) can profit enormously by (1) making them re-performing notes or (2) foreclosing and selling the property for large profits.The pitch from those “with something to sell” is twofold: (1) “There is plenty of meat left on the bone” (actual quote), and (2) if you send the borrower a complete package of all docs, weighing, say, five pounds you will “shock and awe” him into paying on the note.I highly doubt either of these claims have even a micron of validity.The parties with a financial interest in you buying into this will cite isolated instances of great success, never mentioning the all-more-frequent instances of total failure.So at the end of the day the training promoters have collected up to $30,000 per person for their NPN “mentoring”/”coaching” program, the retail asset disposer has made 50% to 100% profit on their inventory, private middlemen have turned a $2,500 investment in a note into $16,000, and my sister-in-law who purchased 5 NPNs over three years ago and has spent large amounts on attorneys, taxes, and brokers has yet to see a penny in return.To paraphrase, if you don’t know who the sucker is in any ultra-high profit promise situation, it’s you.
7 July 2018 | 3 replies
They scanned the sidewalk, backyard, and checked the basement and outside around the house for signs of oil piping.
8 July 2018 | 5 replies
Turn key properties just don't pencil out as good fit investments for me.
3 August 2018 | 7 replies
I sign on the HELOC today and all is well, other than my bank account being $700 leaner...lol.
7 July 2018 | 0 replies
However, I've put about 40K into the building in the past five years and the result is a nice, updated, prior duplex turned triplex.