On today’s show I talk about being a landlord vs being the bank in your own deals.
There are pros and cons of being a landlord, think of the alternative, I’m not saying NOT to be a landlord, wealth has been built that way renting out units.
But, investing creatively is another way to go, There is a Lease Option, Owner Financing and subject to existing financing, don’t forget some banks are raising their criteria to lend out money to real estate investors.
**** Note**** Always seek a professional.
Landlord Responsibility Vs Being The Bank
- TAXES- Not the banker
- INSURANCE- Not the banker
- MAINTENANCE -Not the banker
- LIABILITY INSURANCE- Not the banker
- APPLIANCES -Not the banker
- TENANT MOVES OUT – Owner Re-sell house
- RENT DEPOSIT – Down Payment to Buy
- Possible Cash Flow
- Hold- Linda Mckissack
- The Art of Owner Financing – Mitch Stephen
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Loans For Residential Real Estate Investors Friends with a tendency to lend
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Keep the momentum going, Good things will happen.
Thank you and Stay safe.