Real Estate Investing: Beware Of "Subject To" Promises

Article by: Jeanette Joy Fisher

Another real estate writer's mini course, full of promises and fluff, ended with a "lesson" on why you need to buy his book so you can finance multiple properties , Bathroom Remodel - The Plan "subject to." The reason, he said, "because banks won't let you finance more than ten mortgages."

This simply isn't true.

First, banks let you finance as many mortgages as you can pay for. Some banks limit the number of loans made to one person. Experienced real estate investors just move on to another lending institution.

I know one investor who owns more than one hundred single family homes. , Description of a Hurricane Lamp! All have mortgages. He constantly refinances one rental for the down payment to buy the next. Besides living off the cash flow from his rentals, he also refinances a rental occasionally to take his family on a first-class vacation.

Another investor, my friend who owns the carpet , Yard Figurines company we use for our fixers, owns more than fifty rentals. None were purchased "subject to" the existing loan. Many were purchased "all cash" for quick closings, with mortgages added later.

For beginning real estate investors, looking for an owner willing to sell their property , The Nigra Arborvitae Grows Well In Solebury / Bucks County Pa. "subject to" the existing loan adds a frustrating component to the search for a profitable property. , The Truth About Real Estate Investing… Is It Right For You? Today's savvy home , How to completely rehab your in 10 days! sellers just won't sell to a buyer who can't cash them out.

Of course, some investors offer "subject to" and lease-option purchases. But, properties , Virburnum Dentatum -Chicago Luster Viburnum with most of the equity stripped out come with payments too high for rental income to support. These properties , Yard Figurines make better candidates for owner-occupant home , Tips on How To Plan A Harmonious Family Garden buyers with poor credit who don't mind paying more for a house. , Magazine Ads A New Decorating Idea

Beware of "subject to" seminars, books, and promotions. This real estate investing method worked last century.

Copyright © 2005 Jeanette J. Fisher. All Rights Reserved.

About the Author: Jeanette Fisher teaches real estate investing and credit college courses. Jeanette is the author of "Doghouse to Dollhouse for Dollars" and other books. For a free report, "Design Psychology for Selling Houses, , Kitchen Cabinets are The Soul Of Your Kitchen " visit http://doghousetodollhouse.com Source: www.isnare.com

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