Comments on: Buying a house for someone else? http://www.jonwaraas.com/buying-a-house-for-someone-else/ Make Money At Home with Jon Waraas Fri, 10 Feb 2012 09:48:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: jack ash http://www.jonwaraas.com/buying-a-house-for-someone-else/comment-page-1/#comment-17598 jack ash Fri, 30 Nov 2007 21:52:08 +0000 http://www.jonwaraas.com/2006/07/26/buying-a-house-for-someone-else/#comment-17598 Think about it like you were in Vegas. Should you bet with the house in vegas or against the house? Depends on the game, but if you could play how vegas plays, bet with the house. Who is the house in the case of real-estate? The U.S. Government (if you like in the usa).. Not banks and certainly not being a landlord... How can you do this? Well.. I have a tax lien that I have invested in that makes 14% per year... It's a tough industry to make money in.. but that's because you'll be competing with banks for the best notes and liens... A short summery is this: You put your money in a 12 month CD at 4%... The bank takes your money, and invests it in a tax lien or mortgage note at upwards of 25% They take your money, and make 20% or more and give you 4%... I like to cut out the middleman.. Think about it like you were in Vegas. Should you bet with the house in vegas or against the house? Depends on the game, but if you could play how vegas plays, bet with the house. Who is the house in the case of real-estate? The U.S. Government (if you like in the usa).. Not banks and certainly not being a landlord…

How can you do this? Well.. I have a tax lien that I have invested in that makes 14% per year… It’s a tough industry to make money in.. but that’s because you’ll be competing with banks for the best notes and liens…

A short summery is this:

You put your money in a 12 month CD at 4%…
The bank takes your money, and invests it in a tax lien or mortgage note at upwards of 25%
They take your money, and make 20% or more and give you 4%…

I like to cut out the middleman..

]]> By: Avalanche Internet Marketing http://www.jonwaraas.com/buying-a-house-for-someone-else/comment-page-1/#comment-59 Avalanche Internet Marketing Tue, 01 Aug 2006 13:41:00 +0000 http://www.jonwaraas.com/2006/07/26/buying-a-house-for-someone-else/#comment-59 Tell you what - residential real estate has a major-league PITA factor and is anything but passive income. Commercial is the way to go... very little hassle. Trust me, renters usually suck and to make any real money in residential you need to ride it out for around 7 years, have a ton of properties, or be in the right place at the right time. If you are resolute on the residential tack, another way is to go into phase 1 neighborhoods and buy a property pre-construction. You put down a grand or two for the contract which is then applied to the house. Sit on it until construction and sell. You can even save on the upgrades by doing some trivial ones yourself (crown moulding, etc), then charge what the builder does for the same options. If you can't sell right off the bat, you can then try the rental bit. Of course phase-1 flipping is a bit tougher with the way interest rates are moving. Not sure what the market is doing in Idaho, but you can still pull that off in minor metros like Charleston, SC. Tell you what – residential real estate has a major-league PITA factor and is anything but passive income.

Commercial is the way to go… very little hassle. Trust me, renters usually suck and to make any real money in residential you need to ride it out for around 7 years, have a ton of properties, or be in the right place at the right time.

If you are resolute on the residential tack, another way is to go into phase 1 neighborhoods and buy a property pre-construction. You put down a grand or two for the contract which is then applied to the house. Sit on it until construction and sell. You can even save on the upgrades by doing some trivial ones yourself (crown moulding, etc), then charge what the builder does for the same options. If you can’t sell right off the bat, you can then try the rental bit.

Of course phase-1 flipping is a bit tougher with the way interest rates are moving. Not sure what the market is doing in Idaho, but you can still pull that off in minor metros like Charleston, SC.

]]> By: Andreas Bard http://www.jonwaraas.com/buying-a-house-for-someone-else/comment-page-1/#comment-58 Andreas Bard Thu, 27 Jul 2006 12:36:00 +0000 http://www.jonwaraas.com/2006/07/26/buying-a-house-for-someone-else/#comment-58 I would definately go for properties if I had that kind of money to invest. Surely one of the best investements you can make. Go for it man, its passive income! // Andreas Bard I would definately go for properties if I had that kind of money to invest.

Surely one of the best investements you can make.

Go for it man, its passive income!

// Andreas Bard

]]> By: khalidslife http://www.jonwaraas.com/buying-a-house-for-someone-else/comment-page-1/#comment-57 khalidslife Wed, 26 Jul 2006 10:13:00 +0000 http://www.jonwaraas.com/2006/07/26/buying-a-house-for-someone-else/#comment-57 Excellant idea dude, my dad has lots of property here in the UK and it's the best invesmtment you could make. I would alter the idea slightly and NOT sell the property. Keep it and after three years buy another. Obtain a portfolio of about 5 properties, you can't go wrong, especially if they are in areas where the rental market isn't saturated. The internet may burn down tomorrow haha, invest in bricks and mortar, don't put all your eggs in one basket with websites. That's just my views, Khalid. Excellant idea dude, my dad has lots of property here in the UK and it’s the best invesmtment you could make.

I would alter the idea slightly and NOT sell the property. Keep it and after three years buy another. Obtain a portfolio of about 5 properties, you can’t go wrong, especially if they are in areas where the rental market isn’t saturated.

The internet may burn down tomorrow haha, invest in bricks and mortar, don’t put all your eggs in one basket with websites.

That’s just my views,

Khalid.

]]>