nother real estate first-class vacation.
writer's mini course, full
of promises and fluff, Another investor, my friend who
ended with a "lesson" on why you owns the carpet company we use
need to buy his book so you can for our fixers, owns more than
finance multiple properties fifty rentals. None were
"subject to." The reason, he purchased "subject to" the
said, "because banks won't let existing loan. Many were
you finance more than ten purchased "all cash" for quick
mortgages." closings, with mortgages added
later.
This simply isn't true.
For beginning real estate
First, banks let you finance as investors, looking for an owner
many mortgages as you can pay willing to sell their property
for. Some banks limit the number "subject to" the existing loan
of loans made to one person. adds a frustrating component to
Experienced real estate investors the search for a profitable
just move on to another lending property. Today's savvy home
institution. sellers just won't sell to a
buyer who can't cash them out.
I know one investor who owns more
than one hundred single family Of course, some investors offer
homes. All have mortgages. He "subject to" and lease-option
constantly refinances one rental purchases. But, properties with
for the down payment to buy the most of the equity stripped out
next. Besides living off the cash come with payments too high for
flow from his rentals, he also rental income to support. These
refinances a rental occasionally properties make better candidates
to take his family on a for owner-occupant home buyers
with poor credit who don't mind last century.
paying more for a house.
Copyright "© 2005 Jeanette J.
Beware of "subject to" seminars, Fisher. All Rights Reserved.
books, and promotions. This real
estate investing method worked
About the Author:
Jeanette Fisher teaches real estate investing and credit college courses. Jeanette is the author of "Doghouse to Dollhouse for Dollars" and other books. For a free report, "Design Psychology for Selling Houses," visit http://doghousetodollhouse.com
Source: www.isnare.com
