Secret Tips
SELLING HALF THE PROPERTY
CAN TRIPLE YOUR INCOME
Paula Wilson from Baltimore, MD asks Fixer Jay:"When you spoke to our investment club, you told us an excellent way to generate more cash flow from a property was to sell half of it to an investor. You said it was not the least bit uncommon to double and even triple your net income with HALF SALES. I don't understand how you can sell half of what you already own and get more income! Is this some magic voodoo or something?"
I can assure you, Paula— It's neither magic or voodoo!Most of the added income comes from selling my own sweat equity after I fix up a rundown property and increase its value! Here's how it works. Let's suppose I purchase a fixxer-upper duplex for $100,000 with $10,000 down. I then clean up the property, do the necessary fixin' and the first thing you know - the value has increased to $150,000. My net rental income is $200 per month, which ain't terribly bad for my $10,000 down payment, but let's gas it up a bit!
When I sell 50% of my ownership, both the income and expenses will now be shared 50/50 between me and the buyer. However, the buyer must now start paying me for the $30,000 equity he acquired. I usually sell a 50% ownership for little or no cash down to credit - worthy buyers.
Typically I will carry back a $30,000 promissory note, secured by the property for 10 years at 10 interest. Payments to me will be $396.46. Now with the note payment, my half of the property is bringing in almost $500 per month - and we ain't done yet! since I no longer own the other half, I can legally charge the investor fees for managing and maintaining his half of the duplex. Now I'm earning almost $600 per month, ain't life grand!!!
Selling Houses With an Option to Purchase
This course will show you how to sell houses for top price in any real estate market regardless of what the economy is like. Jay’s lease option technique is different than most because it solves the two biggest problems facing every lease/option customer – namely, how to get the down payment together – and, qualifying for a new mortgage when it’s time to purchase the property.
What's New
The Sky's Not Falling On Everyone!Opportunities to acquire wealth building real estate have never been better for investors who have the vision and basic skills to charge ahead. While the "chicken little" disciples dance around on the sidelines waiting for the sky to fall, shrewd investors are busy pickin' cherries off the top branches' -more-
Book Tour
Stay tuned for Jay's 2008-2009 Book tour sponsored by McGraw Hill - Introducing Jay's new investment book: "Investing in Gold Mine Houses" -more-
Secret Tips
Selling Half The Property Can Triple Your IncomePaula Wilson from Baltimore, MD asks Fixer Jay:
"When you spoke to our investment club, you told us an excellent way to generate more cash flow from a property was to sell half of it to an investor. You said it was not the least bit uncommon to double and even triple your net income with HALF SALES. I don't understand how you can sell half of what you already own and get more income! Is this some magic voodoo or something?" -more-