I was completely wrong about becoming a slum lord
 

This guy Grand Cardone is awesome. I don't want to be a slum lord. Any of you wise guys have any tips on finding the cash / credit to buy mf income properties? My credit is bad and I am pretty fucked but I want to be doing this anyway
This may not be easy at first, that's for sure
But that guy really is amazing as hell
He completely changed my mind

You have no income, no money, and shitty credit and you want to buy income property. Put this ad on craigslist:

Hello...I have no income, no money, and shitty credit. Please sell me your positive income generating properties. I promise I will pay you back.

Find a property owner who is having problems selling the property and has equity in the property.
Offer full appraised value for the property providing that they will carry a second mortgage equal to the amount you are required to put down by the lender.
That is one way of acquiring property with no money down.

Ray
Hardlinks.org

I've had morons like you say or write shit like this at me ALL OF MY LIFE and I've always made assholes of you clowns nearly every time so fuck yourself. If you have time to waste dissuading me from having success you need to go and take a look at your own life. That is fact.
If you're successful and taking the time to write a post like this one that's even WORSE so go get a gut check or wake up call or what ever you need to pull your head out of your butt and do something about what ever all is wrong with you

I'ma make it not just in spite of mental cases like you but BECAUSE of mental cases like you

You're welcome for the advice

Thank you for coming up with an idea, Ray

You should try being a "bum lord" ...

Oh that's witty ya fucking comedianne

Find a meth-head or a crack-head that is a veteran and hasn't used his/her eligibility. Offer to buy their dope for 3 months if they buy the property on a VA loan and after they deed it to you -- you can assume the loan.

Shady but should work.

I can access a VA loan soon
I can buy apartment buildings with that?!

Up to a 4 unit building.

duplex, triplex or fourplex -- yes

Lol...!! what clown show did you escape from...???

Fuck off, I like Barry

Well that's going to do me as much good as a cardboard whore .. Hmmmmm
Can I buy six fourplexes? Or limit of one Airforce loan or what?

You know a lot about things - I like that

Jesus walking on the fucking moon

Alexis Cepeda6 months ago
so she said up to fourplex today i went to speak with a navy federal mortage officer and i was told that i could only do duplex is it diffrent by state ??
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SmarterSanDiego
SmarterSanDiego6 months ago
Alexis, I think the rules changed. It looks like it was right after we did this segment too. What a shame!
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C Thomas
C Thomas6 months ago
Did the rules change nation wide? Where can I find this information to make sure?
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Alexis Cepeda
Alexis Cepeda6 months ago
C Thomas i personaly spoke with a NAVY FEDERAL CREDIT UNION loan officer and told me that i can only buy duplex with the va loan ,she made it seem like she red the instructions i want to speak personaly with veteran affairs to see if this is true if not then its the bank...
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SmarterSanDiego
SmarterSanDiego6 months ago
If you have questions about a VA Loan, call Sean Cahan at 619.519.3780!
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Leo Ix
Leo Ix1 month ago
as far as I can tell you should speak to more people besides NFCU - I have spoken to 4 different groups now and they generally say different things. I bet it varies by state too.
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a bump for slum :thumbsup

Wow
I like the surrounded by naked women avatar

How much does the average 4plex cost where you are?

OneHungLo
This message is hidden because OneHungLo is on your ignore list.

Find old people who own the own house, offer to buy at the price they would get for a property with a sitting tenant. Buy it and wait for them to die.

I invented reverse mortgages when I was in real estate classes and they taught me about a life estate
First thing I thought of :)

Ok, I was thinking about investing in some properties and need a partner. You lose.

Well this fucking sucks
I want this building and it's extremely not for sale apparently
It is only a couple of years away from being freeable from the fuckng S42 bullshit too which would raise the NOI over 124k
Fucking FFS FUCK

VA loans have to be made on owner-occupied properties.

That would be okay at first I suppose but this is a 48 unit property here

Barry Obummer? :winkwink:

Detroit is where you need to buy

Shit man detroit has to be a goldmine
Goldmines lose money I guess though
But I mean to say it must be
Have you seen the Shea show? I love that guy