William Bronchick : Tips to Make Cash Fast in Real Estate - PowerPoint PPT Presentation

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William Bronchick : Tips to Make Cash Fast in Real Estate

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Here’s creative techniques for generating cash quickly without starting from much. – PowerPoint PPT presentation

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Title: William Bronchick : Tips to Make Cash Fast in Real Estate


1
How to Make Cash Fast in Real Estate
2
  • The most common question I get is, How do I make
    cash right now in real estate? Oh, and by the
    way, I have no money to put down and my credit is
    horrible!Ok, not impossible, but it will take
    hard work, dedication, and learning a few tricks
    I have up my sleeve.
  • Heres creative techniques for generating cash
    quickly without starting from much.

3
The Wholesale Fixer
  • Summary  Find a fixer property that needs a lot
    of work, but that is priced accordingly.  Get it
    under contract for 70 of ARV less repairs, then
    flip to another investor
  • Where to Find MLS, Probates, Free and Clear
    Owners
  • What to Watch Out For Banks wont let you assign
    their purchase contract.

4
Wholesale Rental
  • Summary Find a property that would make a good
    rental, and flip to another landlord. Usually a
    starter home thats on the cheaper side and
    doesnt need much more than carpet and paint to
    make it a fine rental property.
  • Where to Find MLS, other landlords
  • What to Watch Out For Sewer line, roof or
    structural problem will push repair costs too
    high to make it worthwhile for a rental.

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6
Sandwich Lease
  • Lease a property from the owner with an option to
    buy, then sublease to a tenant, giving him an
    option to buy for a higher price. When tenant is
    ready to buy from you, exercise your option to
    buy from the seller, and double-close the deal to
    the tenant.Dont make payments directly to seller
    and trust him to make it to his bank. Instead
    use a third-party escrow company to service
    payments.

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8
Subject to, Lease/Option
  • Summary Have seller who is highly motivated and
    little equity deed his property to you, subject
    to the existing mortgage.  Then, lease to tenant
    with option to buy.  More favorable than 3,
    because if you have title to the property for
    more than 12 months before tenant buys, the
    profit is a long-term capital gain, which means
    lower tax rate.
  • Where to Find  Properties in default or in
    foreclosure.  May require you to make up some
    back payments, though.
  • What to Watch Out For  Seller has undisclosed
    liens on the property. Do a title search before
    proceeding.

9
Wrap/Rewrap
  • Summary Buy on a wraparound installment land
    contract, mirroring the sellers loan balance and
    payment terms. Then, resell on a wraparound
    installment land contract, marking up the price
    and interest rate.
  • Where to Find FSBO seller who has very little
    equity or advertising for sale or rent.
  • What to Watch Out For Dont make payments
    directly to seller and trust him to make it to
    his bank.  Instead use a third-party escrow
    company to service payments.

10
Flip a Mobile Home
  • Summary Buy one cheap, fix it up, sell for
    cash.  Works best on older homes that are cheap,
    because few people have the cash to buy a 40k
    mobile, and few banks are lending in this arena.
  • Where to Find Put fliers out in mobile home
    parks
  • 1 Thing to Watch Out For Your buyer may not
    qualify for the mobile home park lease!

11
About William Bronchick
  • William Bronchick, Host of Legalwiz.com is a
    nationally-known attorney, author, entrepreneur,
    and public speaker.
  • Mr. Bronchick has been practicing law and
    investing in real estate since the early 90s,
    having been involved thousands of real estate
    transactions. He has trained countless people all
    over the Country to become financially
    successful, speaking to audiences of as many as
    16,000 at mega-events.

12
Contact William Bronchick
  • https//www.facebook.com/williambronchick/
  • https//www.linkedin.com/in/williambronchick
  • https//bronchicklaw.com/
  • https//www.legalwiz.com/
  • https//twitter.com/bronchick
  • https//bronchick.wordpress.com/

13
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