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You’ll never have to buy a home again, you will be much more comfortable with your landlord, who is willing to take care of you.
There are several ways to finance your home. You can be the owner of it, either as an LLC or a Sole Proprietor. You can also rent it, allowing you to make cash flow payments to the landlord. Your options to finance your home are vast.
You can invest a little money into a home, buy a house, and then move on to the next project. This will likely involve a larger home, but it’s a real deal. The main thing that gets the most attention is the money. In a simple story, a homeowner sells a home to the buyer for a nominal dollar. The buyer then returns with the full amount of the home for the rental.
This sounds a bit like a scam, especially since the owner (the bank) can’t always be sure that the property is being used right. But in this case it’s actually a good deal. The buyer doesn’t pay rent to the bank for a few years, but they get the full amount of the home for the rental. The rent is the cost of the homeowner’s equity in the home. It’s only a minor transaction, but it makes the transaction more attractive to the bank.
When we were in Y2K, the developers decided to look at a new building they had built about a year ago. It has a beautiful staircase and a huge, beautiful fountain. The owner of the building had no clue what this building was. When we first heard about it, we thought its a pretty unique type of home, and not something like a garage. We figured that its a big space, and we wanted a site to build a little bit more to give it some more space.
But then we saw the bank actually sign the contract with the property owner. There is a huge difference between “we’re building a nice house” and “we’re building an awesome house.” As it turns out, the owner of this building had no idea what we were building. This is one of those situations where we should have been able to just Google the property owner and see what happened.
We had a few questions, so we went to a lawyer. Turns out, the owner of the property was a shady character who had been hired to do a fake title deed. This was all a big red flag for us.
The owner of this building is a guy whose father was shot dead in front of a car wreck while driving his car to a party. It turns out that the person behind the car is a real person, not a bank. We don’t want this guy to be a bank.
We ended up finding a new lawyer. He was very helpful and very convincing, but we still have a few questions.
Why was it important to go to a lawyer? You’ve probably heard horror stories about how some people get caught up in legal issues after they’ve sold their houses. They lose interest in the real estate and end up wasting a ton of time trying to clear their name. Why would someone want to do that to themselves? Well, one of the biggest reasons is that it is a lot easier to get thrown in jail if you’re in debt.
