Quote:
Originally posted by angelsofporn
find someone who trusts you that owns a place that they want to get rid of then just buy out thier equity and pay on there existing loan. If they had say 100k in equity that you bought out then you now have equity from which to put up to get your own loan against it for another property..now your in the realesate game..this porn stuff is pennies in comparison.
Another way is to have your seller agree to say the sale is going through at a higher dollar amount than it is actually going through then you just added a mountain of equity to whatever doan payment you gave the seller. After it closes you just do an ammendment between you and the seller stating that the price was reduced after the sale so you can go to your city tax guys and telll them you bought it for less so you dont have to pay property tax based on that higher amount...but you will still have the original appraisal bsaed on the original selling price to base the value on when approaching lenders for a loan.
If you scared of the tax man just buy places in other peoples names..relatives you trust ..etc
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This scenario is great if you're into bank fraud, tax fraud, etc.
If you want even more credit and legal problems, as well as pay money for properties that you don't even hold title to --- which is insane --- go ahead and follow this idiot's advice ... LOL
