Investing question

[AristotlesOwn]

I'm tyring to get into Real Estate investing (or any kind of investing for that matter), but the problem is that I'm a grad student with no money. I was wondering if there is/was anyone in my situation who invested and made a reasonable return but started with NOTHING. My credit is decent, so finding funding shouldn't be that much of a problem....but the caveat is that I don't work. I NEED some money because as many of you know grad school sucks you dry. Any advice is welcome and it doesn't just have to be real estate.

 

[que90nek]

Technically you can purchase a property for $10 if the person is willing to sign their DEED over to you. Most people, however, have LIENS against their property in the form of mortgages. But imagine if you took their property from them with their current mortgage in place. Imagine if they were motivated to do this because of a pending FORECLOSURE. Imagine that you were able to reach out to them and get their property under contract. You would then be able to see that they purchased their property 5 years ago and have TONS of equity, but CAN'T TOUCH IT because they are in arrears. So how is it that YOU can get to their equity? Well....you may not have the cash to catch them up on their payments and take over CONTROL of their property, but there are thousands of investors that DO have the money and will gladly pay you a finders fee of $1500-$5000 to bring the deal to them.


The process I just briefly glossed over is called PRE-FORECLOSURE investing and the method of taking control is SUBJECT TO.....subject to the existing lien in place. It's a beautiful thing because you could keep their mortgage in place ...but then FIND another renter that will pay YOU more than the mortgage note....who gets to pocket the rest....

YOU DO!

 

[AristotlesOwn]

Hey, thanks! That sounds reasonably safe and practical...is there anyone else who can speak on this?

 

[Chase Bannon]

I'm doing something of this nature as we speak. I have a bunch of investors lined up. I am going to be selling them a foreclosure list, but my list will be unique compared to most you see in advertings and on T.V.

 

[kjxxxx]

To add to what he said. Make sure if you do take control of a property you don't put yourself on the line where you have to make payments unless you have the money and can see your way out of the deal. Hope you have gone to http://creonline.com and read some examples of how others have done some.

Technically you can purchase a property for $10 if the person is willing to sign their DEED over to you. Most people, however, have LIENS against their property in the form of mortgages. But imagine if you took their property from them with their current mortgage in place. Imagine if they were motivated to do this because of a pending FORECLOSURE. Imagine that you were able to reach out to them and get their property under contract. You would then be able to see that they purchased their property 5 years ago and have TONS of equity, but CAN'T TOUCH IT because they are in arrears. So how is it that YOU can get to their equity? Well....you may not have the cash to catch them up on their payments and take over CONTROL of their property, but there are thousands of investors that DO have the money and will gladly pay you a finders fee of $1500-$5000 to bring the deal to them.


The process I just briefly glossed over is called PRE-FORECLOSURE investing and the method of taking control is SUBJECT TO.....subject to the existing lien in place. It's a beautiful thing because you could keep their mortgage in place ...but then FIND another renter that will pay YOU more than the mortgage note....who gets to pocket the rest....

YOU DO!

 

[kjxxxx]

To add to what he said. Make sure if you do take control of a property you don't put yourself on the line where you have to make payments unless you have the money and can see your way out of the deal. Hope you have gone to http://creonline.com and read some examples of how others have done some.

Technically you can purchase a property for $10 if the person is willing to sign their DEED over to you. Most people, however, have LIENS against their property in the form of mortgages. But imagine if you took their property from them with their current mortgage in place. Imagine if they were motivated to do this because of a pending FORECLOSURE. Imagine that you were able to reach out to them and get their property under contract. You would then be able to see that they purchased their property 5 years ago and have TONS of equity, but CAN'T TOUCH IT because they are in arrears. So how is it that YOU can get to their equity? Well....you may not have the cash to catch them up on their payments and take over CONTROL of their property, but there are thousands of investors that DO have the money and will gladly pay you a finders fee of $1500-$5000 to bring the deal to them.


The process I just briefly glossed over is called PRE-FORECLOSURE investing and the method of taking control is SUBJECT TO.....subject to the existing lien in place. It's a beautiful thing because you could keep their mortgage in place ...but then FIND another renter that will pay YOU more than the mortgage note....who gets to pocket the rest....

YOU DO!

 

[AristotlesOwn]

Ok, good advice. I need to check this out over the break, thanks for the assistance.