OfflineI like to keep the odds in my favor. I say this because as a stock broker for 15 years i taught to buy low and sell high.
Another principle that i taught is to buy and hold your investments because if it was worth buying in the first place it should be worth holding for the long term.
When it comes to real estate this is an optimal time to buy low and to hold onto your investment. I have heard Dean say a number of times that he is buying and plans to hold up to 5 years in the future.
Having said that, a lot of people will say that they can't qualify for a loan because of various reasons.
Solution: Put together a TIC (tenants in common) agreement with 4 investors ( could be more) and have them put up the money and you do the work, (find the property, rehab or see that the rehabe is done, rent out the property and eventually sell the property.)
They put up the money and you do the work and you own one/fifth of the property along with the other investors.
The most important ingreadient is that the properties must rent for at least what the expenses are so no one has to put any additional money into the deal.
Right now banks are paying 1 1/2% to 2 1/2% for Certificates of deposits. What if they bought a property and held it for 4 to 5 years and the property increased $100,000. dollars over what you paid for it. $100,000 divided by 5 = $20,000. If they had $25,000 in a certificate of deposit that was yielding 3% that would be $750 dollars a year x 5 years = $3750 vs $20,000 in one piece of real estate.
The great thing is that you could do this with 10, 20 or 30 properties and not have to put one dime in the deals. Not a bad return.
Think about it. Wouldn't it be worth it to develop a business where you could be guaranteed this kind of rewards?
Until next time, this is Charlie Fuller, PMI Coach
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Great food for thought. I am currently putting together a group of cash investors with something simular in mind.
Al
"NOW GO FIND A DEAL"
Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.
Frank Outlaw
Thank you for the insight and the information. Sometimes in real estate we can think a little different and be more creative to find and close on more deals. Thanks again for providing the tips and creative information. Believe and Achieve!
- Joe
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that tidbit of information.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
This is good information to have. Thank you.
Lea
SPR Property Solutions, LLC
This is a great idea. But I am confused about a few things.
1) How would you package the whole thing up ? ( Would you use an atorney to handle the funds ect. )
2) Who would be the controlling party ? ( When to sell ect. )
3) What if one investor wanted out and the others didn't ? ( or would it be a set time and sold )
Can someone give their thoughts on the details ?
Thanks