6 Homes Were Acquired in 11 1/2 Months Using NONE of My Own Credit...and They Currently Give Me OVER $28K Per Month in NET Cash Flow
Even more incredible, the $144K it cost to acquire these properties was NOT my money.
I explain how I did it in a power-packed training...likely my best training yet.
In a nutshell, the strategy I now use is called "subto" or "subject to" and it's the best way to acquire cash flowing properties.
Why? Because banks and lenders have gotten EVEN MORE STRICT on their lending requirements in the past few months. What was "doable" to get financing for last year is IMPOSSIBLE right now. Banks and lenders know the numbers (even if foolish Americans and politicians don't see it yet) and that is this...our economy is about to fall off a cliff. Precautions have to be made. And those without a solid credit rating (800+ FICO) and two years of a REALLY GOOD INCOME (hundreds of thousands of dollars per year in net income), you don't have a chance in hell in qualifying for a mortgage with this tightened up criterion.
So, what do you do when trying to invest in property for cash flow?
Here are your options right now:
Option A: Get a loan from a bridge or hard money lender. (This is ONLY acceptable for non-owner occupied properties.) The interest is high but at least you'll be able to buy your cash flowing property. You will have to have 20% cash down and a solid mid-FICO score to pull this off.
Option B: "Subto." This is when you take over an existing mortgage, likely with a much lower interest rate than what you can get today. You'll be able to help someone get out of a mortgage that they may not be able to afford anymore and they're struggling to sell their house in this softer real estate market. It's a win-win for everyone.
I talk all about how this works in my power-packed training.
CLICK HERE to watch the training now. This WILL change your entire perspective on cash flowing real estate, how to acquire properties, and how to finally make your real estate investing dream a reality.
CLICK HERE NOW!
See you at the top!
Your mentor,
Monica Main
