WHERE ARE THE real deals?

Question

IS THE ROI IMUCH HIGHER FOR APTS VS SINGLE FAMILY?

HOW MUCH DOWN DO YOU REALLY NEED FOR A MILLION DOLLAR APT BUILDING 10 OR 20%?

IS THERE SUCH A THING AS EQUITY CASH OUT AT CLOSING?
FOR EXAMPLE IN TAMPA THERE IS A
3.2 MILLON DOLLAR PROPERTY FOR SALE 2.2 MILLION PUT DOWN 220,000 PLUS FINANCE ALL CLOSING COSTS THEN AFTER OR AT CLOSING YOU GET A CHECK FOR 1,000,000? THEN YOU OWE THE WHOLE 3.2 MILLION BUT A BIRD IN HAND TOO! POSSIBLE?

Answer 1

It took me nearly a half hour to answer this question. (The previous 29 minutes were spent rolling on the floor in hilarious laughter).

Get a check for a million dollars at closing ????? This is one of the BEST I've heard in a long time. I hope you found this one without paying for it. If you paid for it, you just got screwed. If you got it free, good for you. It ain't real, in either scenario.

Answer 2

On rental propertys. they want to see money down. they will only finance so much. usually 90%. Alot of starter lanlords purchase a home as if it were their home. then rent it out. Refinance. use the money to purchase another house, maybe a little bigger. and so on and so forth. I have never seen a landlord purchase a million dollar property as their first property unless they have investors. Investors is huge when you get into million dollar propertys.

I personally believe that good deals are in the renovation section of citys or towns. when the town has decided they want to do a total renovation and removal of "bad people". this way you can purchase a property, sometimes they give you money toward rehab, or a tax break. and then your property value goes up after a few years. Turn around for large rental properties is about 5 years. most companys want hold them more than that

Answer 3

Yes its possible if you borrow the whole amount (3.2) and have a deposit reflecting this amount and a contract for the property written at 3.2 with a wirtten agreement from the owner stating they will refund you the 1,000,000 at settlement.

You will need to ensure you have your capital gains tax situation sorted as he will be affected by this extra money on paper.

You can do it and i have done it, but you need the owner to realy work with you on it and be open to helping, as most of them will perhaps not be interested.

Answer 4

It looks like you pais $29.95 for one of the get rich deals. Yes there are a few real deals out there buit the people active in Realestate and Investing will see them and grab them up before you ever see them.pp