To Good To Be True
Just staring and contacted by a promoter that says they sell you new homes with 10%-20 % equity
positive cash flow and a lease option tenant locked in to purchase the house in 2 years or less.
Looks like all the right things taught in all the courses, what's the catch?
Quote:
On 2004-07-02 00:43, santacruzron wrote:
Just staring and contacted by a promoter that says they sell you new homes with 10%-20 % equity
positive cash flow and a lease option tenant locked in to purchase the house in 2 years or less.
Looks like all the right things taught in all the courses, what's the catch?
Ron,
Has the promoter given you any local examples. I don't know how in the Bay Area you could get into positive cash flow without putting a large chunk of money down. Maybe that's the 10-20% equity?
Have you asked around at your local REI group?
Robert
santacruzron,
Glad to meet you.
Are these promoters using your credit, to purchase the house, then putting in their own tenant/buyers and possibly having you deed the property into a trust they control?
John $Cash$ Locke