Are You Afraid To Buy A Property Because You Can’t Qualify For A Loan Or You Have Less Than Good Credit?
Today I had an interesting conversation with one of my Advanced Life-Line students who confessed that he continues to have great anxiety and fears making an offer to buy a property even if it would be a good deal for him. He always hesitates pulling the trigger and submitting his offers because of his fears. He is really missing out on creating an income stream he really needs as well as being able to create wealth over time.
Being a new Life-Line student he has fears of buying any property where he will have to get some type of financing to pay for the properties he is making offers on. After talking to him about doing the numbers before making an offer to buy any property he felt much better but he still had fears of having to deal with the responsibilities associated with ownership he had never had to deal with. Seeing I wasn’t getting very far explaining how to buy real estate with the least amount of risk I finally decided to talk to him about a powerful way to profit from real estate without having to deal with the responsibilities of ownership, that I still use today.
I talked about being able to make a profit from real estate even if he doesn’t have available money or good credit. I talked about a way to control real estate without having to qualify for any type of financing, not having to pay property taxes, property insurance and maintenance on any house.
This student has always been a renter and never had to deal with any of these issues before because his landlord always had to deal with all of the problems at the property. My student’s only responsibility was to pay his rent on time every month and take good care of the house. At this point in our conversation because of my students fears I suggested he might look for houses in good areas that are in good condition that he could rent without wanting to live there, with one caveat, he would need to be able to sub-lease or re-rent the property to another tenant occupant. If he can negotiate a monthly rent amount less than what he can re-rent the property to another tenant it would give him a positive monthly cash-flow he can put in his pocket each month.
If he decided to use this method to create a monthly positive cash-flow his only responsibilities would be to select a good tenant to sublet the property to who will pay their rent on time each month and also agree to take good care of the property. If done this way my student would only have to pay the amount each month he agreed to pay the owner as rent on time. Using this method of taking control of a property without ownership has far less obligations for my student, and still gives him a monthly positive cash-flow to put into his pocket every month.
This may be a good way for anyone who would like to get involved in real estate without having to borrow money and having to maintain a property when a lack of income makes it impossible for them. I just gave any of you with a money or credit issue a way to create an income stream. Eventually my Life-Line student and you can learn other ways to create money and ownership when money isn’t a consuming factor in your life.
If you would like to learn more about how to create an income stream when money and credit is a problem in your life, or if you would like to ask me about my personal one-on-one, deal-by-deal Advanced Student Life-Line Program, please contact me.
Until Next Month,
Good Luck and Happy Investing