New Investor wanting to expand - Posted by Mary Lambert

Posted by Chris on February 09, 2000 at 18:46:08:


Check the banner at the top of the page for the CREOnline convention. Lots of gurus will be there.


New Investor wanting to expand - Posted by Mary Lambert

Posted by Mary Lambert on February 09, 2000 at 15:45:15:

I am a relatively new investor (since July of 1999) and have purchased some property in the past year. (8 pieces for a total of 21 units). I am currently trying to buy some more. All of my previous deals were done with conventional financing and the down payments have about wiped me out. I was interested in kniowing more about simultaneous closings and how they work and about the PAC trust (if any one here has used the service) I have some good deals that I just need some sort of creative way to come up with the money. Thank you for any information you may have. Also I am in a small market (West Virginia) so none of the info gurus ever come to this place

Re: New Investor wanting to expand - Posted by Steve-Atl

Posted by Steve-Atl on February 10, 2000 at 13:46:55:

First thing I would do is expand my education about differnt ways to buy properties. Using conventional loans and your own down payment money can be limiting as you’ve found. You have done well to get so many units that way.

Learn all you can about “subject to” deals where you use the existing financing. Done right, that involves the use of trusts. Also look at lease option deals which are another way to profit without a conventional loan. After a while you will realize that you can buy all the properties you can handle without going to the bank to get a loan. That’s where it’s at!

There are several good teachers and courses. I like Ron LeGrand’s Multiple Offer Strategy system. It opened my eyes to the possiblities, but I’ve learned much from others on this site.