What Is Your Latest Deal?
Hello, all.
I was just wondering, what's your latest deal? I know that we all help one another with advice and direction, but I'd really like to see more of not only what you're doing today, but how you put the deal together to make it happen.
Deal 1. We got a foreclosure last week which we're working on. No money down! How? We used a partner's money.
Deal 2. We just got financing on another duplex in VA. We're going to live in this one. No money down! How? HELOC from one of our properties. Equity farming is a beautiful thing.
Thanks,
OnTheWater 
What is equity farming?
Equity farming? It's not really a term, but essentially your property value increases every year because it's worth more every year. That value, or percentage that it increases is called equity.
Now you can also increase the equity in a property by working on it... improving it.
I had heard the term "equity farming" on a tape; I liked it, and it came to me while writing the above, so I thought I'd just throw it in there to be humorous.
Thanks,
OTW
The thing to remember about equity farming, You have good crop years, and bad crop years. Sometimes you see them comming, and sometimes you don't
[addsig]
Hey:
Isn't there something biblical regarding seven years of feast and seven years of
famine??
Don't sell nexts years seeds.
My latest deal is a duplex that I haven't seen, selected by a person I haven't met, located in a state that I haven't been to in over 30 years! Makes me feel like a bit of a gunslinger!
It's a Fannie Mae and it closes tomorrow.
Happy Holidays and Happy Investing to all,
Ed
Waiting for the bank to make up their damn mind about accepting/rejecting my offer.. there`s some other interesting deals out there but I`m stuck waiting for these boners.. uugh!