Gerald Romine's Politically Incorrect News
Hey Gerald,
"Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate." - Andrew Carnegie
The timing could not be better for the wise young man or wage earner to buy real estate.
- Markets are soft
- We are in a buyer's market
- Taking over payments without bank qualifying is easy to find
The time to buy real estate is now!
If you have no money: Look for deals that cash flow and offer to take over the payments or buy with owner terms. The fact is homeowners are drowning in a sea of debt and many are going to lose houses but not because anything is wrong with the house. Most are losing houses because of their failure to manage money. Huge difference. The key here is cash flow.
If you have money: It's like having a license to steal. The challenge is finding owners/situations where a cash offer can be accepted (normally the owner needs to owe less than your offer). Other advantages of having money include the ability to purchase with owner terms and pay a reasonable down payment. The key here is still cash flow.
If you have credit: Then you have money. Your best use of your credit may be to refinance existing properties to improve your cash flow. With so many home available subject to why incur the fees, costs, and liabilities of qualifying for loans when you can do a little shopping and take over loans subject to. The key is still cash flow.
If you do nothing else this week take a hard look at your market and the deals available. Spend just 2-4 hours looking at prices. You'll be shocked at what is happening in your backyard and the deals available.
Now Go Buy A House!
Gerald Romine
PS - If you need help analyzing deals then you need this system to not only analyze your deals but it will prepare your offers and all of the paperwork in less than five minutes!
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