There will be a lot of people downsizing and will have trouble selling their houses... This is where you come in.... They must have adequate equity and you give them a bridge loan and carry the third...but their house must be for sale and preferably vacant!! (usury laws may differ state to state, but you can cash in) They get the Bridge loan at a high rate to move out! You get the equity and save their credit! or...you can sell the note and still bank some bucks...when people are desperate...you win! Michael B. P.S. Every "for sale" sign becomes your potential client. You can even go down and search the recorders office for public info...look up all the loans from CountryWide...they have those upside down ARM's and such...look for neg amortization ARMS!~!!!
JT, I work in transportation for a company. Not the same place where I have a contract with! NO one would allow that! I am an IC with a seperate trucking company and have a contract with them to deliver their goods. I rent a truck from penske, really cheap, no repairs to worry about, no worries if my driver breaks down, they take care of it all. This has nothing to do with the company I work for. ANy other questions you can PM me...
Hey Mike, thanks for some good info! Do you do any deals now in real estate? I know a little but not alot of the entire process. I just viewed it as super risky! I will have to dig deeper and see what I can come up with. thanks again
Anything can happen...there is never zero risk... I suppose as the dolllar reverses and the cost of living increases...time could become your risk... If a severe recession hit...there could be a run on money at the Banks causing an overload to the insurance system.. shoot I don't know...anything can happen...The sky could fall... Michael B.
No I am flat...but it sounds good don't it...? I think it is time consuming to find the right deals and I do not work well with partners...(you need a real estate agent to partner up with) If you got the time to search out the deals or make friends with a real estate agent....maybe...(I generally work alone) but you can think about how you can "help" others when they get the beginnings of the foreclosure.... Michael B.
first pay off any high interest debt read the Peter Lynch classic "one up on wall street" one of the few qaulity books out there that will teach you how to pick stocks and beat the market