6.0_bull
New Contributor
User Power
Value/Post Ratio
16%
- Nov 27, 2007
- 90
- 14
I got a better twist on that idea..OPM
1-Form your LLC with 4 members with great credit that can raise one million each in corporate credit lines witch is not hard.If you know the right contacts
2-Now you have 4 million to approach the bank and lets say you are lucky enough to buy 4 million worth of properties at 60 cents on the dollar one of there REO portfolios as you said MJ
3-Turn around and refinance those properties at full value, pull out your initial investment and your equity on top out.
4-Use some of that equity for holding costs ,interest payments, repairs etc , rent out properties , I would hold about 5 years cause i think a few extra years would bring higher values and a longer period to get out of this RE recession.
5-take that money and buy more places *********
1-Form your LLC with 4 members with great credit that can raise one million each in corporate credit lines witch is not hard.If you know the right contacts
2-Now you have 4 million to approach the bank and lets say you are lucky enough to buy 4 million worth of properties at 60 cents on the dollar one of there REO portfolios as you said MJ
3-Turn around and refinance those properties at full value, pull out your initial investment and your equity on top out.
4-Use some of that equity for holding costs ,interest payments, repairs etc , rent out properties , I would hold about 5 years cause i think a few extra years would bring higher values and a longer period to get out of this RE recession.
5-take that money and buy more places *********
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.