With all the talk about cheap properties and investors snapping them up, it seems like average CA dude or dudess with no equity left in their properties are shut out of this great investment opportunity…Not so!
An equity group based right here in California has been quietly purchasing thousands of distressed properties for pennies on the dollar–this is called wholesaling–amd they are making such great deals that they can offer these properties to buyers like us at slightly higher but still wholesale prices…How does $30,000 sound? That’s right, investors here can purchase properties for $30,000 cash. Think about it–no credit necessary because there’s no loan, no pre-approval, no muss, no fuss.
Even that’s too much, you say, you don’t have that kind of cash? No problemo–many people can use IRA or 401k money. All you need to do is transfer it to a self-directed IRA which I explained some months ago…
So, what’s the catch? There really isn’t any catch. These properties are located mostly in the Midwest–Indianapolis, St Louis, some in Atlanta with new places coming online all the time. You simply put down $2000, refundable if you don’t buy, to secure a place in line. When your turn comes, you get all the info about the property and you can visit it if you wish. Now, here’s the good part. You can purchase the home for about $30,000 cash.
All these properties are single family homes or duplexes located in highly desirable blue-collar areas, not slums, and all have been rehabbed. Further, the company offers two ways to start making money with your purchase. In one scenario, you can rent the home for a minimum of $450 per month to you after taxes, insurance and property management fees have been paid. The renters are all tightly screened. That’s about 20% return on investment. The other scenario is to sell the property on an installment contract. The company has a ready pool of pre-approved buyers who will pay a minimum of $450-$600 to you every month. The buyers and renters are also getting a good deal so it’s win-win for everyone.
Alternatively, if you want to cash out right away, you can find a local real estate agent and sell the property outright. All these properties are worth considerably more than you are paying on the open market. All are worth at least $45,000 and some much more.
Interested? Email me [firstname.lastname@example.org] and I’ll send you a Powerpoint with a fuller explanation and pictures of actual homes. If you want more info, give me a call 626-641-0346.