To Good To Be True

Just staring and contacted by a promoter that says they sell you new homes with 10%-20 % equity
positive cash flow and a lease option tenant locked in to purchase the house in 2 years or less.

Looks like all the right things taught in all the courses, what's the catch?

Comments(2)

  • InActive_Account3rd July, 2004

    Quote:
    On 2004-07-02 00:43, santacruzron wrote:
    Just staring and contacted by a promoter that says they sell you new homes with 10%-20 % equity
    positive cash flow and a lease option tenant locked in to purchase the house in 2 years or less.

    Looks like all the right things taught in all the courses, what's the catch?


    Ron,

    Has the promoter given you any local examples. I don't know how in the Bay Area you could get into positive cash flow without putting a large chunk of money down. Maybe that's the 10-20% equity?

    Have you asked around at your local REI group?

    Robert

  • JohnLocke3rd July, 2004

    santacruzron,

    Glad to meet you.

    Are these promoters using your credit, to purchase the house, then putting in their own tenant/buyers and possibly having you deed the property into a trust they control?

    John $Cash$ Locke

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