http://unlockrealestate.com/?p=74 An Empowering Database Sat, 02 Jan 2010 16:52:02 -0700 http://wordpress.org/?v=2.8.3 hourly 1 http://unlockrealestate.com/?p=74&cpage=1#comment-109 peilthetraveler Mon, 16 Nov 2009 10:05:33 +0000 http://unlockrealestate.com/?p=74#comment-109 Yes its possible. I will tell you one way to do it, but there are many ways. One way is to find a house that some seller is desperate to get rid of. A house that needs repairs and the seller has no money to fix it or doesnt want to fix it. The house needs to be far below market value. For instance. Lets say houses are selling for 120k in a specific area. Then you find a house with weeds all over the place, needs lots of paint, maybe there are a few broken windows with boards on it. Seller only want 40k for the house because it needs so much repair. You go to whats called a "Hard money lender" This guy will loan you 65 to 70% of the after repaired value at super high interest rates like 15% interest and 6 to 8 points. So you get a loan for 78k, pay the seller his 40k and now you got 38k in your pocket to fix the house up. Yes its possible. I will tell you one way to do it, but there are many ways. One way is to find a house that some seller is desperate to get rid of. A house that needs repairs and the seller has no money to fix it or doesnt want to fix it. The house needs to be far below market value. For instance. Lets say houses are selling for 120k in a specific area. Then you find a house with weeds all over the place, needs lots of paint, maybe there are a few broken windows with boards on it. Seller only want 40k for the house because it needs so much repair. You go to whats called a “Hard money lender” This guy will loan you 65 to 70% of the after repaired value at super high interest rates like 15% interest and 6 to 8 points. So you get a loan for 78k, pay the seller his 40k and now you got 38k in your pocket to fix the house up.

]]> http://unlockrealestate.com/?p=74&cpage=1#comment-108 lb_centaur Sat, 14 Nov 2009 08:50:51 +0000 http://unlockrealestate.com/?p=74#comment-108 Start by reading Home Buying for Dummies Start by reading Home Buying for Dummies

]]> http://unlockrealestate.com/?p=74&cpage=1#comment-107 jools4fools Fri, 13 Nov 2009 01:15:02 +0000 http://unlockrealestate.com/?p=74#comment-107 It's a scam. A lot of those people have been sentenced. It’s a scam. A lot of those people have been sentenced.

]]>