MANY BWBS SEEK TO BORROW MORE MONEY THAN THEY NEED to take over, start, or buy real-estate ventures which interest them.
Let’s see how you can do exactly this for a condo (condominium) you want to speculate on.
Here’s what you do:
- Find a condo whose value looks like it wil rise while the building is being put up.
- Properties whose values rise during construction wil usually:
(a)be in popular areas (Florida, California, Colorado, etc.),
(b) ofer good living for their tenants,
(c) have many wanted conveniences like a pool, golf course, boat docks, sauna, tennis courts, etc. - When you find such a property, put a down payment on one or more units. Keep your down payment as small as possible, say $1,000. Do not make a large down payment unless you’re sure the unit will go up in value while it’s being built. You can get info from the builder on the price history of previous units.
- To keep your own investment to a minimum, you could borrow the down payment. Just be sure that you have enough income from other sources to be able to repay the down payment if you have to.
- Hold the condo (by maintaining your down payment) until you see the price starting to rise. This usually happens after the building is about 80% complete. Don’t sell at the first rise in the price of your unit(s). Hold on until you see how high the price will go.
- Sell when you think the highest price has been reached. But don’t try to squeeze the last penny out of the deal! Sell when you can easily get a good profit without a lot of sweat. Then go on to the next deal!
Here’s what can happen to typical condo prices:
| Price at Start of Construction | Price at Opening |
| $50,000 | $65,000 |
| $75,000 | $92,000 |
| $200,000 | $260,000 |
ADD TO YOUR CART . . .
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This invigorating money-making manual by the inimitable Tyler G. Hicks shows both beginning and experienced real estate wealth builders how to get pre-foreclosure and post-auction properties at low cost, how to finance any income property, smart steps to getting a down payment loan, using options to control property, smart mortgage methods, finding valuable abandoned properties,…
HOW DOES THIS METHOD GIVE YOU 100+% FINANCING?
That’s easy. Here’s how it would work for the $50,000 condo listed above:
- Your down payment is anywhere from $1000 (as a binder) to $10,000 as a takeover payment
- You sell the condo unit for $65,000, which is $15,000 MORE than you paid for it
- With a $1,000 down payment you get $14,000 MORE than you need to buy the unit
- With a $10,000 down payment you get $5,000 MORE than you need to buy the unit.
So with both approaches you get much more money than you need to buy the property.
Of course; when you sel the unit, you no longer control it — just money!
JUST WHAT YOU NEED NOW . . .
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The IWS Complete Real Estate Loan Getters Kit shows you how to get real estate loans for either a client or yourself. Lists hundreds of active real estate lenders seeking first and junior mortgage loans for a variety of property types. Loan amounts range from a few thousand dollars to many millions, depending on the…