American Entitlement Mentality: Why Should We Pay Our Mortgage When We Can Eat Steak Instead!!

[ScottThuy 140]

I'm laughing at that old robber-baron scam. Oldest trick in the book.

[Rebecca Jo 1,962]

It's ok, Scott. Does not matter if we agree or disagree on this.

Let's just say the deed books of counties across the US are littered with the evidence of amateur land barons whose house of cards came tumbling down.

[evli1966 88]

It's ok, Scott. Does not matter if we agree or disagree on this.

Let's just say the deed books of counties across the US are littered with the evidence of amateur land barons whose house of cards came tumbling down.

I agree with this but those that overpurchased themselves led to this.

Land Barons are different than Robber-Barons

Who do you suggest purchase those properties that have been foreclosed on?

[Hilarious Clinton 452]

Good for you

Yup I am and for pennies on the dollar.

BTW anyone can do that is is easy as pie.

You make a purchase so that the apraised value of the home is more than the offer you make a minimum of 40%.

No money down with 10% cash back to renovate and get ready to rent.

I have not had a house sit longer than 15 days without a signed lease.

Rent should match the market but be about 1.5x your mortgage so the mortgage is paid each month, you put back enough to make 3 months of payments a little off each month to pay insurance and turnkey costs and then you take a piece.

There is no real cash flow for you until the 6 months payments is stockpiles (this is for security) and once the house is paid off then it is all money.

If the market climbs enough I may sell but my goal here is 1.5 the market value of what I purchased it for; might be a high goal but I don't need to sell.

BTW I am defintiely not a real estate guru or and educated man, just a sandwich maker in profession and realize there is risk in it all.

Tip is buy homes that are valued no more than $75k payments for a 25year mortgage at $50k buy making this purchase you have increased your net worth and borrowing capaicity.

mortgage =$521 with approx. tax&ins rent=$775-800

After stockpiling your reserve payments of 3 months then you get to take out some for yourself or do what I do and make principle payments.