Juegos-Trabajo-Empleo | Ways to Purchase Real Estate Without Getting a Loan – Wealth Building Strategies
April 20th, 2010
JuegosMy main wealth building strategy has been investing in tax liens. Now I love investing in tax liens for lots of reasons. You can watch a short video about Why Invest in Tax Lien Certificates on my web site. But I’ve always wanted to be a real estate investor. Regardless of what you may have seen on a late night infomercial, tax lien investing is a great wealth building strategy but it’s not a good way to purchase real estate. In my experience a tax lien on a good piece of property will almost always redeem. That means that you don’t get to foreclose on the property. What you do get is a great interest rate on your money.
The problem with investing in real estate as a wealth building strategy for me has been that usually you need a lot of money, so I’ve been researching ways to purchase real estate without having to put down a lot of money. After all, I’m used to investing small amounts of money at a time – in tax liens.
TrabajarWe finally did purchase our first investment property. We bought it at a real estate auction and got a great price. But what a rude awakening when we went to get the financing! Things have really changed in the past few months when it comes to getting a loan. Sure there are still some great programs out there for first time home buyers and even for people who are not first time buyers, but are purchasing a home to live in. The problem is that banks do not really want to lend to investors.
Trabajo The second goal is to form some sort of entity, system, or in other words a BUSINESS that can function to sell the product, rent the space, or provide the service with minimal supervision and direction on the part of the entrepreneur. This structure that is put in place to substitute product for time and sell it for cash effectively removes the cap on the amount of money that an entrepreneur can make from simply trading his time for cash at a fixed rate, and even allows time for several such endeavors to be run simultaneously with many different types of products and services.
Approximately 50% of small businesses fail in the first five years, according to the Small Business Alliance. Of these, the number one reason is under-capitalization. If you are able to access the money you need NOW, then when you need it tomorrow, you will have it. No waiting…
Even though I have taken courses on how to purchase property “subject to” the current mortgage, the method that I learned did not really work in my state so I abandoned this method before I even tried it. Then I heard a tele-training with Wendy Patton on lease options and subject to deals on REIBlueprints. I wanted to try a lease option, and I thought that was what this training was about. But it was actually about how to purchase properties using lease options and subject to deals without having to put any money down.
One of the biggest mistakes wealth creditors make is not making the acquiring of capital a high enough priority. They don’t take the time to understand how to get it or think that it is out of their reach. If you want to master creating wealth, then you need to understand that NOW is the best time to acquire the skills to access capital. you can be published without charge. You can to republish this article in your website or blog. Please provide links Active.
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