ere's a way to profit from him market rent, but will not let
real estate with no money the person move in until the work
out of your pocket that's a is completed, because the work
winner for everyone involved. won't get done otherwise. At the
Find a vacant residential completion of work, his payments
property that needs work. Instead will be deducted from the sales
of tying up your money buying it price, which will also be at
and dealing with the hassle of market.
contracting the work (or spending
all your spare time on it), tell It's a win/win/win; the new buyer
the owner you'll lease it at 25% gets in with only his sweat as
below market rent for a certain equity, the original owner gets
period of time, with an option to to unload a headache, and you get
buy it at the end of that time, the difference between the
also at a percentage below percentage below and the market
market. If the property is the rate for taking the initiative
probable headache to a and overseeing the deal.
long-distance owner that seems
likely, he may take you up on it. A money-saving note: When the
work is completed and the new
buyer is ready to take ownership,
Then, put a pulls-no-punches sell him your option, and let the
classified ad in the paper. It paperwork reflect that he bought
could be along the lines of "El directly from the original owner.
Dumpo! Rent-to-Own, $0 down, You This will avoid the expense and
fix, 555-1243." You will get hassle of 2 closings, as well as
calls; screen the caller's a potential capital gains hit for
background to see if he can you if you'd held the option for
actually do the work that's more than a year.
needed. Tell him you'll charge
This is just another way to lousy tenant or making cheap
invest in real estate with no repairs to a property. Both will
money down of your own. It's a cost you more than they're worth
good creative exercise, and a in the long run. Be creative
profitable example. But, when because it's your strategy, not
you're thinking this way, out of necessity, so you're never
remember that you don't want to tempted to be penny wise and
put yourself in a situation where pound foolish.
you make foolish choices for lack
of cash flow--like renting to a
About the Author:
Lynn Stonebraker has been profiting from real estate since 1987. Get free weekly training in her newsletter, available at http://www.realestateinvestinginformation.com
Source: www.isnare.com
