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TL;DR
Learn how to leverage government programs to buy seized properties and generate rental income while helping families in need.
Chapters
- 0:00Introduction to Government Programs01
- 0:10Finding Seized Properties02
- 0:30Financing Your Purchase03
- 0:50Refinancing and Cash Flow04
- 1:10Understanding Rental Payments05
- 1:30Next Steps and Conclusion06
Transcript
A lot of people don't know this. The government will pay you $3,000 a month guaranteed but you have to buy a $40,000 government seized home. Here's 5 places to buy bank seized property for cheap. Foreclosure.com, Auction.com, Equator.com, Zome.com, and RealtyTrack.com.
Use these filters. Price has to be under $40,000, under 1,500 square feet but it has to be 3 plus bedrooms and then make sure that it's section 8 approved. Then buy it with a $20,000 business credit card at 0% interest. Let's say it appraises at $65,000 after a light rehab.
Let's say it appraises at $65,000 after a light rehab. Refinance it using a DSCR loan. You get to pull out 75% of the appraised value, that's $48,000 back in your pocket. All off of $20,000 of OPM. Then go to huduser.gov and affordablehousing.com.
Then go to huduser.gov and affordablehousing.com. This shows exactly what the government will pay you for rent. They pay the most for 3 plus bedrooms to house their section 8 tenants. All you need to do is find the right zip code and fill out an HAP contract.
Help a family in need. Then you just want to repeat it. Take the money from the refinance, buy more seized properties and then stack your cash flow. If you have a minimum 540 credit score along with an LLC and EIN, I can walk you through how to access $250k of business credit while using a trust to maintain your privacy.
And all you have to do is comment EIN right here. I'll send you the full walkthrough.
I'll send you the full walkthrough.
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