Jim FL
03-30-2005, 10:44 PM
Hello all,
I read on another forum recently where someone was asking whether or not you can 'flip' a property you buy subject to the existing financing?
The answer is of course, yes, if you buy right.
If you buy a property for say 50% of value, whether that means paying cash, or simply taking over a mortgage that encumbers the property to 50%.....doncha think someone else will pay more, in cash, or with a loan, or combination of both?
Either wholesale, or retail, if the house is clean, or you clean it up?
I'm here to tell you, not all of us who buy houses subject to, keep them, or sell them with terms.
I do some of that, as cashflow is the life blood of any long term business.
But, cash on hand sure makes life easier to handle as well, so selling some of those GREAT deals to pull cash out now, is also an essential part of the business, in my opinion.
So, can YOU do this?
I think so, and in fact, will prove it now.
How? you might ask?
Simple, by showing you that I do this, and plan to continue to do this........and can teach you how as well.
I just closed a deal with over $40k in CASH PROFIT to ME, for a house I bought subject to, and held title to for just a FEW DAYS!
Sure, I have my ducks in a rowe, and have a buyers machine out there working, so there is usually a line for my houses for sale.....that helps.....but I can teach you that too.
So, for some incentive to get you moving forward with your investing carreer, and to implement some of the GREAT ideas and info shared here at magicbullets.com
I'll give you a link to view a HUD-1 from a transaction I closed this week.
You can read it, in great detail, and see the dates and numbers, its the real deal........and frankly, just one, the biggest one this month, but just one.
So, whether you are an experienced investor, who is well off, or someone looking to invest and merely add a few bucks to your families yearly income...check this out:
Click HERE, and when the page loads, scroll to the bottom! (http://rementors.com/pic_page.htm)
Folks, I was reading something the other day that said the average household income for this country is $48,000/year.
Now, the hud-1 I'm showing you here, from ONE DEAL, is slightly over $44,000!
Do you think that kind of cash could change the lifestyle of the 'average' American family?
I know it can, and will for many.
When I offer to share info, and try to help others learn to do these deals, sure, if you follow my lead, and work hard at developing your own business, you CAN become very wealthy, probably a millionnaire over time.
However, my real goal, is to help the 'average person' to learn some specialized skills to help their immediate needs and to change their circumstances financially.
Money is certainly not everything, but I'll tell you, having it, sure does make it easier to make time for those things that ARE important........like family and friends.
Anyway, I sincerely hope nobody takes this post or the picture link as bragging, or advertising, it is not.
I'd just like people to look at this business realistically, and know that with hard work, you can use it to change your life.....on what scale is really up to you and your efforts.
Happy investing all,
Jim FL
I read on another forum recently where someone was asking whether or not you can 'flip' a property you buy subject to the existing financing?
The answer is of course, yes, if you buy right.
If you buy a property for say 50% of value, whether that means paying cash, or simply taking over a mortgage that encumbers the property to 50%.....doncha think someone else will pay more, in cash, or with a loan, or combination of both?
Either wholesale, or retail, if the house is clean, or you clean it up?
I'm here to tell you, not all of us who buy houses subject to, keep them, or sell them with terms.
I do some of that, as cashflow is the life blood of any long term business.
But, cash on hand sure makes life easier to handle as well, so selling some of those GREAT deals to pull cash out now, is also an essential part of the business, in my opinion.
So, can YOU do this?
I think so, and in fact, will prove it now.
How? you might ask?
Simple, by showing you that I do this, and plan to continue to do this........and can teach you how as well.
I just closed a deal with over $40k in CASH PROFIT to ME, for a house I bought subject to, and held title to for just a FEW DAYS!
Sure, I have my ducks in a rowe, and have a buyers machine out there working, so there is usually a line for my houses for sale.....that helps.....but I can teach you that too.
So, for some incentive to get you moving forward with your investing carreer, and to implement some of the GREAT ideas and info shared here at magicbullets.com
I'll give you a link to view a HUD-1 from a transaction I closed this week.
You can read it, in great detail, and see the dates and numbers, its the real deal........and frankly, just one, the biggest one this month, but just one.
So, whether you are an experienced investor, who is well off, or someone looking to invest and merely add a few bucks to your families yearly income...check this out:
Click HERE, and when the page loads, scroll to the bottom! (http://rementors.com/pic_page.htm)
Folks, I was reading something the other day that said the average household income for this country is $48,000/year.
Now, the hud-1 I'm showing you here, from ONE DEAL, is slightly over $44,000!
Do you think that kind of cash could change the lifestyle of the 'average' American family?
I know it can, and will for many.
When I offer to share info, and try to help others learn to do these deals, sure, if you follow my lead, and work hard at developing your own business, you CAN become very wealthy, probably a millionnaire over time.
However, my real goal, is to help the 'average person' to learn some specialized skills to help their immediate needs and to change their circumstances financially.
Money is certainly not everything, but I'll tell you, having it, sure does make it easier to make time for those things that ARE important........like family and friends.
Anyway, I sincerely hope nobody takes this post or the picture link as bragging, or advertising, it is not.
I'd just like people to look at this business realistically, and know that with hard work, you can use it to change your life.....on what scale is really up to you and your efforts.
Happy investing all,
Jim FL