RE investors looking for a safer investment. Join the many 203k seminars given all over the USA. They are intended to provide information to people who want to buy using the 203k. Believe it or not there are quite a few buyers who come to those meetings and want to purchase a home with no money down. There are several ways to do that... one it YOU provide the home. YOU can borrower money to fix up a home provided YOU have an exit strategy. The borrower with no down payment is that exit strategy. You rent to them for a period of time and charge market rent plus an amount that is bing used as their down payment. If they back out YOU keep that money too. In the meantime HUD allows this program provided YOU can prove that they are paying more than market rent. They continue cleaning up their credit while accumulating the down payment they need to get a 203b loan.
RE agents and broker should love this program... bring your investors to the seminars as they are litterally in every state in the union. Sell them a home, then write the contract to sell it to someone else in the room once they accumulate the down payment. Two commissions on every house you sell. you are seeding your future sales book. Go get 'em.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved