HOW TO BUY A PROPERTY
Buying,
selling, renting, repairing, and designing are fun and lucrative activities.I’ve done it wherever I have lived Utah, Chicago, Portland, since I was eight
years old. It’s a piece of cake with very little down side. Here are some of
the general advantages:
*You can get started today. *Use
other people’s money or your own if preferred: No money of your own, no work
based on your discretion. *Set
your own hours: You can work anytime you like, put in lots of hours or
practically none. *It
is hassle free if you learn or know how to make it that way. *You
can do it from your home, South Africa, at your regular job or full time, part
time, the internet; the possibilities are endless *It’s safe, effortless, and more profitable
than almost anything business. * Little or no financial risk, *It’s free to learn. I’ll teach
you how. So here goes. Don’t miss out! It doesn’t matter if you’re rich or dead broke.
You'll be greatly rewarded. Jump right in. First off, it’s necessary to own a
house or property before you can sell or rent it, right?
Buying
Most of the time I use a Real Estate
Option to buy contract, which works very well any time in any economy. When
you’re ready to buy a house obtain as much cash or credit as you can so as to
make a cash offer. Then go look for a property that will sell for the amount of
money or credit you have obtained. It might be a $500. , $50,000. , more. Everyone
does it backwards. They find a house they like then look for a bank loan. Don’t
do that!!!! It is expensive: Lots of fees
like, title insurance, bank fees, liability insurance, inspections and
management fees, closing costs, Etc. There are none of these expenses in “My Cash
Flow” method.
I
know what you’re thinking, that’s all just fine, but where in the world do I
get the cash or credit? Answer: Many,
many places! Keep in mind that presently
our country is bankrupt. Banks are giving away money at 1% while inflation is
over 9% which includes Real Estate of course.
Here
is an example of a first house purchase I did in 1987 when I was flat broke; in fact I was $90,000
in debt after a divorce. On this particular home, I raised 5,000 cash using
several credit cards; $5,000 from a city improvement aid program and $20,000
open credit charge cards to be used at time of closing bringing me to a total
of $30,000. Ok that done; I’m ready to start looking for a $100,000 dollar
house. With cash offers you are able to get a big discount from the asking
price.
I
spend a day or two making 3 or 4 offers. I drive around looking for sale signs,
call realtors, check newspaper ads and foreclosures, maybe talk to friends. Most
often I close within three weeks. I quite often have
someone else make my offers a broker, friend, relative so as
to avoid emotional arguments, and what “ifs.” I try to find The bottom price the seller will
go. The offer is made, and then I wait. In about two weeks usually one of the seller’s
offers will be accepted.
DR. KARL WALLACE D.D.S. formally a dentist and football coach in Washington Terrace
See more of Karl at:
karlwallaceblog.blogspot.com
