Get Buy Low, Rent Smart, Sell High PDF

By Scott Frank

ISBN-10: 0793177561

ISBN-13: 9780793177561

Dealing with a unstable inventory industry, many of us have became to actual property with a view to make investments their well-merited cash. whereas many traders favor to purchase estate after which promote it speedy, different traders decide to carry onto their estate for an extended time period to gain a better go back on their funding. genuine property specialists Scott Frank and Andy Heller have constructed a confirmed and diverse software for genuine property making an investment that comes with either techniques and allows traders to take keep watch over in their monetary futures and construct wealth through the years. Their new booklet, purchase Low, lease shrewdpermanent, promote excessive: actual property making an investment for the longer term outlines a win-win-win application, one the place standard humans can gain major monetary rewards by way of making an investment in actual property. * Win One: procuring Low - The traders first win happens via paying for genuine property at a 10-20 percentage by way of looking for influenced dealers and heading off paying agent commissions. The e-book unearths the key to purchasing foreclosed houses with fresh titles from banks and loan businesses. * Win : Renting clever - the valuables is rented via a lease/purchase contract. not just does the investor get a down fee from the lease/purchasee, yet she or he additionally gets per month lease that typically exceeds the per thirty days personal loan money. additionally, the lease/purchasee takes at the upkeep and service obligations and has a tendency to be a greater tenant in go back for his or her distinct lease/purchase phrases. additionally, because the proprietor of the valuables, the investor is ready to obtain tax write-offs. * Win 3: promoting excessive - the ultimate win effects while the lease/purchasee workouts his or her correct to buy the valuables. the landlord has learned some great benefits of possessing the valuables and has bought it to the lease/purchasee with no agent commissions. If the lease/purchasee comes to a decision to not workout his or correct, the investor nonetheless wins simply because she or he can both expand the hire buy contract and bring up the acquisition expense (based on estate appreciation) or input into one other lease/purchase contract with a brand new tenant and start the cycle of wins everywhere.

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Example text

We have come to trust these people, and they now know which properties arriving in their portfolio are right for us. CONTRACTORS/REPAIR PEOPLE • Source two or three good contractors who do solid home repairs cost-effectively. • To find good repair people, ask other investors and REO agents. They already have repair crews they work with regularly, and many can recommend reliable ones. • For any contractors referred to you, check out the quality of their work and pricing practices. Also, determine their record for delivering on time; contractors can be notorious for overcommitting their resources and failing to stay on schedule.

We usually get a nice monthly positive cash flow from the rent, because it’s generally 25 to 50 percent greater than the mortgage payment. In this program, we transfer all repair responsibilities to the renters (after a reasonable warranty period of about three months). After all, when they sign the lease/purchase contract, in many ways it’s like they own the home. We can’t sell it to anyone else, and they get the full benefit of any improvements they make to the home. This is what we mean by creating cash cows on autopilot.

Mortgage payments prior to house being lease/purchased. Typically $500 to $3,000 and paid with cash out of your pocket (after you lease/ purchase the home, covered by your monthly rent) Depending on how you structure your offer, you can require the seller to pay the closing costs and even the repairs. However, if you ask for too much, the deal can go south or may require setting up escrow accounts. So keep requests to a minimum, because you don’t want these negotiations to tie up or even kill the sale.

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Buy Low, Rent Smart, Sell High by Scott Frank

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