HOW TO MAKE BIG $$, GET INTO REAL ESTATE, ACHIEVE HOME OWNERSHIP.
Let's talk about ONE DAY getting rich and getting free of wage slavery. I know, you want to work, but let's talk about your being able... later in life, to do the career that fits your interests and talents so WORK IS FUN. That means, you have to be FREE of the RENT RACE.
Let me tell you what the RENT race is. It's being 55, slowing down, a little more fatigued, yet having to earn the biggest damn RENT you ever knew in your lifetime. That's happened to me. I WISH that someone had told me what I'm going to tell you when I was l8. Because in the last 40 years, I've earned good and I could have DONE THIS EARLIER, if I'd known that REAL ESTATE and property OWNERSHIP is the only way to get free of being a wage slave.
You have to get a little bit of cash saved to do this, almost 5 thousand dollars, and get it within a few years, because in about two years, there's gonna be a BIG RECESSION and property will be dirt cheap and available for those who have GREENBACKS. You don't want to buy property now, as it's too high.
So, first you need to start saving CASH. Get it the old fashioned way, under the table. How? With Guerilla Capitalism and moon-lighting combined. That's how you attain it and we ABSOLUTELY mean it, real estate is imperative. Renting's cool but landlords & HIGH RENT can KILL YOU. (and boy, does rent get higher as the decades fly by..) mean money goes down drain. You never get a fireplace, vegetable garden or orchard.
Face it, a big, old house (shared even) is what you really need, then a string of little houses you rent to others. Instead of giving in to hopelessness, minimum wage, danger of being fired, and with Social Security AD going down the drain, MEDICARE thrashed, rethink your LIFETIME SURVIVAL strategies. Let in new input. Your fears, negative thinking are your worst enemy. Take a minute to hear an idea that will make you a homeowner in a few months. In this difficult era, where many of us are a single check away from homelessness, & corporative downsizing and mass firings have reached alltime high, you need REAL ESTATE.
HOW? Easy. You have a large family. Friends. Relatives who'd either co-sign or lend you partial down paym't, co-own property with you. The FED is giving low rates to poor people for 1st time ownership with 3% Fannie Mae loans or l0% down (Community Loan program.) Both FANNIE MAE's. To find local FM lenders, write 4-free book, F.M. 4000 Wisconsin Ave NW Wash DC 20016. Buy first single family house or up to 4 unit residential as Cooperative real estate ownership. 4 Families in 4 units is OK under Gov't low loan program. There are many so called working poor: janitors, landscapers, painters, roofers, immigrants, hardworking people who earn a ton of cash and spend a LOT on landlords/ apartments/ yet YEARN to own. The FM program requires no credit, just wants to see that you have been able to pay high rent. LOTS of people who EARN cash hide their earnings from the IRS and rent expensive apartments and show no earnings. They usually bank in their CAR trunk or mattress, have no credit. Fannie Mae doesn't care, as long as they can prove they pay high rent with cancelled checks. Find 4 families with bluecollar income, many poor families have a lot of individual workers in them. Tell 'em to pull the money out of the mattress and put it in the bank. Then, find an old 4-unit, inner-city, semi-decayed bldg, that's up for sale & hasn't moved --what with real estate being dead, a distressed property, motivated owner. Pick 4 units. If your 4 families live there, they can pay 3% down on this kind of property. With interest rates so high now, you can get a bargain on the price, even ask owner to assume 1/2 the closing costs. Offer 1/3 off asking price. Let's say they want 350k for the bldg, you get them down to 325k. Each family needs $2,400 for the down payment and half the closing costs, about $625. 3 grand each family, for each unit, payment for each will be $800 a mo, less than rent.
You want one apt for yourself, so FIND 3 apt dweller pals who want to own their own, and arrange to split downpaym't 4 ways. This kind of shared bldg is called a PUD (Public Utility Development) as they share l utility box. It's a COOP. Each family has a deed and a proprietary lease. You're in the co-op as long as you pay your monthly payment, & obey the rules. You might use a close relative to cosign, and if you buy a single fam. HOUSE, in 1 YR you Equity transfer 1/2 the property to him. If it's a 4-unit bldg, U-need someone w. credit, & an inclination to help you who will INHERIT one apartment if any of the 4 can't pay his monthly payment. Your co-signer will bring into creation a Utopian project, and if anything goes wrong, worst case scenario, end up with a condo unit for his own.
If the 4-lst time owners choose the Community Loan way, they don't need a co-signer. Just cancelled checks and cash in the bank. This plan is foolproof. Even if one owner fails to pay monthly paym't; you simply go thru a normal eviction which can take a few weeks, meanwhile they (the other 3 families or their co-signers) pay the defaulter's paym'ts. So select your 4 people very carefully. Make sure they like physical work as the 4 families will sign on to 'totally and personally, with their own labor, rennovate the bldg,' strip down to lath, if needed, put in new drywall, new wiring if needed, plumbing fixtures, (sinks, toilets, tubs,) then paint light/bright colors over entire inside and outside of bldg, install window boxes with bright geraniums or year-round flowers, up and down entire bldg, and in front on sidewalk, wide holes wi. trees, then a CO-OP VEGIE GARDEN & ORCHARD in yard.
With the GROUP working together on the property, you could have something glorious which would double in value in a few years. Sell your unit a few years later, buy a home! The relative who co-signed floats a very secure loan. If l tennant defaults on his condo, signer aquires very rentable condo so no loss, but these inner city people usually make darn good $, scratching around for hard labor jobs which are actually pretty highly paid. Either a co-signer or one of the 4 lease-deed coop owners wanting to do this scheme could start by just hanging little ads in supermarkets, hair salons, to find people who are 'up' to this. Worst case scenario is the funder would end up being a slumlord with a huge, rennovated apartment bldg. But this is such a no-lose idea, someone smart should start C.A.S.A and call it maybe Co-operative Aquisition Society of America. Rich and poor alike could register at central data bank. (Your computer.) The rich to co-sign, the poor to inhabit. You might be able to do the scheme by yourself, finding your own source of credit. Spread idea. Talk to bank which has foreclosures. Create CASA as charity/attract federal funding. Acquire donated linoleum, carpeting, bunkbeds, tables, bookshelves, couches, t.v's. garden sheds, tools, etc. There's no limit as to the availability of people to use CASA, nor limit to the growth and expansion.GOD LOVES POOR PEOPLE AND HE MADE A LOT OF THEM. If you were in real estate already, (which takes two months of study to pass a state test) this idea could make you a million in commissions --really jack up your business. Want a retirement home U-can leave to kids? Create anonymous Stockholder Utah Corp, Write Sec of State Utah. It's cheap, EZ. costs 80$. Then, USE CORP to buy 3 acre farm for orchard/produce growing. Create a limited partnership, sell shares to 35 pals who build weekend cabins on land. All will own land by stockshare so IRS cannot spot home ownership & seize home; their kids inherit stock share,hence vacation villa w. a piece of paper they keep in a drawer! Imagine retiring to an alpine village w. your BEST pals! It's easy to do. I got the plan from a paralegal, wrote it up and put it on my website. I entitled it Social Security is not going to take care of your old age, so better get started on it yourself. Go thru my index of about ten articles on holistic healing, living frugally, healing your animals without vet bills, and find it. At my website, http://www.masterjules.net/realestateindex.htm you will find a large article on how to buy a farm with friends, with an anonymous Utah corporation (costs 80$ to do with Sec of State's office, and it allows you to anonymously own shares in a farm property so you're never taxed.) When you see what that article has in it, make copies in your word processor. And of this one. Print these both out, format them into paragraphs and use it to get co-investors to start saving cash now too, so you can own the CITY based apartment bldg. plus your food producing FARM l00 miles away from city... just in case we get civil unrest. My family was in Germany during the big inflation. It cost a wheelbarrow of cash to buy a loaf of bread. If we get inflation in our country, they will be in your apartment bldg to eat your poodle so that's why the back up farm property. But do take thse articles into your wordprocessor, format, paragraph so they are not so overpowering, and share this real estate article with everyone you want to join you in that first 4-unit bldg. Out of 3 people you give it to, one will want to do it. That means saving the downpayment now thru the day that real estate prices go way down and banks have a lot of foreclosed properties to unload. About a year or two.