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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] One man's passion is another man's poison.. Posted by Ward-CA- on May 07, 2002 at 8:58 AM In Reply to: What to buy - What not to buy posted by Greg - CA on May 06, 2002 at 8:28 PM : Ward, : From what I've heard there are two cases of properties that might make sense right now. I'd like your opinion. : 1. Enough equity to buy, fix, and retail at a nice profit. : 2. Little equity (10 to 20%) but the property is in reasonable shape. I give the owner a little cash, buy at a small discount. I immediately resale as "No Qual - Low Down", but get full price, as much down as possible, and a good interest rate. I've taken subject to and will wrap the existing loan. : Do you agree that case 2 makes sense to go after? I see the competitors buying these. : Greg =•=•=•=•=•=•=•=•=•=•= The #2 scenario is reminiscent of those deals one could buy with existing VA assumable loans that you’d resell and wrap with with your sliver of equity in a carry back All Inclusive Trust Deed (AITD) —making a sandwich profit of $100 bucks a month or more. The guru’s pitch was “Do ten of these deals and you’ll have a thousand bucks a month coming in”. The people I know that did these aren’t out there doing them any more. Guess they don’t want to work so hard nowadays. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : From what I've heard there are two cases of properties that might make sense right now. I'd like your opinion. : : 1. Enough equity to buy, fix, and retail at a nice profit. : : 2. Little equity (10 to 20%) but the property is in reasonable shape. I give the owner a little cash, buy at a small discount. I immediately resale as "No Qual - Low Down", but get full price, as much down as possible, and a good interest rate. I've taken subject to and will wrap the existing loan. : : Do you agree that case 2 makes sense to go after? I see the competitors buying these. : : Greg : : =•=•=•=•=•=•=•=•=•=•= : The #2 scenario is reminiscent of those deals one could buy with existing VA assumable loans that you’d resell and wrap with with your sliver of equity in a carry back All Inclusive Trust Deed (AITD) —making a sandwich profit of $100 bucks a month or more. : The guru’s pitch was “Do ten of these deals and you’ll have a thousand bucks a month coming in”. : The people I know that did these aren’t out there doing them any more. Guess they don’t want to work so hard nowadays. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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