Saturday, May 17, 2008

Appreciation gives you the full value of the property

When viewing the property, take notes regarding all the things that need to be repaired or improved, taking pictures is also a good idea. You find the bargains and pass them along to the contractors and carpenters who earn money fixing up houses to sell. The first of these is to take over the debt load of homeowners. Appreciation gives you the full value of the property, not just what you have invested in that property. Some think it might even be the easiest way to become a millionaire! Income is realized when flipping a property, or you can create passive income with rental properties and your tenants will help to pay down your loan. Check with a real estate agent and determine how fast properties are selling in your particular area. It's possible to wholesale 3 or 4 houses every month. Just think of the income that could generate! You never own the property, but you can make anywhere from $10,000 up on each sale. This is a number that you determine yourself. The seller gets the price they want, the buyer gets the price they want, and you get the difference, which could be several hundred thousand dollars!