How To Make Insane Income Off Of Your Home

In this special report you will learn:

                       

• How to make up to $50,000- $100,000 or more when you sell your home
• How to create monthly cash flow of $200-$500 or more
• How to use your house as a financial weapon

Yes, your home can create an awesome immediate profit for you as well as dependable monthly cash flow.

The secret of making “insane” income is not by flipping or renting the property and waiting to gain appreciation in order to sell it.  Renting is the worst possible way to make money from real estate.  Here’s why:

If you use your home as a rental property, you’ll make a few bucks.  However, 40% of landlords in the USA lose money every year.  It is because most homeowners were forced in to becoming landlords.

The creative financing that I am sharing with you shows you how to operate just like the bank/lender that holds your present mortgage.  Have you ever seen how much you will pay to the bank if you have your house for the full thirty years?  The bank almost triples their money.  They are not landlords.  Yet, they make a ton of money every day.  If the money were in renting the banks would be doing the same thing.

If you have a mortgage on your home, for all practical purposes, you are a “tenant” until that mortgage is paid off.  However, the banks are smart.  They tell you that you “own” the property, but they want their “rent” amortized for the next 30 years.

 You want to “copy” the bank! 

You copy the banks and make money like they do.  Can you do this?  Of course- the bank gave you a gift.  The gift was a mortgage.

The bank makes money by holding the paper.  Time is the biggest friend for a banker.  They love time and so should you. 

Can you copy the bank?  Yes! You can actually do better than the banks because you are not subject to the rules and regulations the banks are subject to.

All the banks are interested in is getting their monthly payment!  Why?  Your monthly payment consists mainly of interest and very little principle.  Did you know that the average homeowner moves every seven years?  Banks do.  Banks make the most money from you on the first 10 years of a 30 year loan.

NOW it’s your turn- use your home to make a killing…

Whatever “gift” you received from your lender, use it to make tons of money.

You don’t want to “own” the real estate- you want to control it.  When you have tenants and you are still paying a mortgage, what you have actually done is “subleased” the property.  However if you sell the property on terms, you control the property by holding the paper for the buyer.  Holding paper is where the money is.

Let’s recap the process

• You sell your home for much more money than you paid for it
• You use the bank’s money to make money
• You hold the paper- the longer the better
• You do everything legally
• You use “creative financing” to structure the sale
• You can do it on a long-term or short-term basis
• The longer you hold the paper (the mortgage for the buyer), the more money you are going to make

  Here is the big question on your mind… “Who is going to help me with the proper paperwork and make sure everything is legal?  I can’t do it myself and I don’t know enough about real estate!”  That’s where I come in.  I can help you sell your home for more money and faster than you ever thought possible.  I will find you a buyer, help you create the deal, and make sure that everything is legal

For all your Utah Real Estate Needs Contact

The Bronson Barber TEAM

801-712-1607

bronsonbarber@gmail.com

Tips To Control Your Tenants

I always see lots of topics on how landlords handle their rentals.  If you want to continue to have rentals, here is what I would do if it were my property.  I do not recommend doing leases longer than six months.  Here is what I would do.

First make it clear that you don’t put up with problems.  Let the tenants know that the first 60 days are a trial period.  If there is anything that you don’t like about how they are treating your property they will be evicted immediately and lose their deposit.

Also tell them that you will be over once a month for three months to check on the house to make sure they are keeping it up.  This will set the stage and show them that they can’t mess around with you.

Make sure that in your contract that you have a clause that states that tenants take care of any problems under $100.  Also get a home warranty on the property.  That will protect you from any unexpected large problems that might accrue.  The best part about getting the tenants to cover any repairs under $100 is that that is the maximum the home warranty companies will charge for their deductible.  This tip will eliminate all repair costs put out by you the landlord.

The reason to limit the contract to six months is that you don’t want one tenant to have too much control over your property.  You will review with them every six months why they should get to stay in your home over the next six months.  Let them know that you have a waiting list even if you don’t.  I would suggest one month before there contract expires to get a list of potential renters to insure someone always being in the property.  That will make sure that you will retain the best possible tenants.  I really believe that every tenant has the ability to be a great tenant.  I also believe that every tenant has the ability to be your worst nightmare.

I don’t like having single-family homes as rentals.  Look for more of my articles on rentals, what I don’t like about them, and what I recommend doing if you have one.

For all your Salt Lake City, Utah Real Estate needs contact

The Bronson Barber TEAM

801-712-1607

bronsonbarber@gmail.com

Why Rentals Are A Dumb Idea?

I went to lunch with a friend the other day that owns a few single-family rental units.  He was quick to let me know that he was tired of all the real estate stuff.  So I started to ask him some of the following questions:

Are your properties currently rented out?  His reply was yes.

How much are you charging on the rental units?  (His answer blew me a way and I learned something valuable from it)  He said, “I have one property that I don’t make any money on, it just covers the debt.  The other one makes a little money but mostly just covers my debt”. 

I was thinking to my self, what is going to be your position if something major goes wrong with the place, or why are you letting this happen?  Not to mention he isn’t even making any money.

Another point that he hasn’t even thought about is, what if they trash the place?  He might have gotten a little money for a deposit.  How fast do you think someone could do $500-1000 dollars worth of damage?  Faster than you would believe.  Then why on earth do we let people take advantage of us by controlling property for so cheap?

Lets look at a reason why this is such a bad idea and why I Do Not Recommend Renting Out Single Family Homes.

Let’s say you want to rent out the property until it is free and clear, based on the normal 30-year mortgage.  Then lets assume you bought it for $150,000 and put down only 5%.  (Good luck finding a lender these days that will allow you to put only 5% down).

Now you have a 142k mortgage.  Now in 30 years the bank will TRIPLE its money.  If you don’t have it rented every single day for the next 30 years you will brake even or in most cases lose money.

Think of all the repairs that you will have to make over the thirty years.  This is just an estimate.  It could be higher or lower but most likely higher.

Replace carpet 8 times or more

Paint 12 times

Replace 8 Water heaters

Replace 4 garage doors and 10 garage door openers

Replace 7 refrigerators

Replace 5 Stoves

Replace 6 Dishwashers

Replace 6 Washer and Dryers

Replace 4 Furnaces

Replace 4 AC units

Now this would be regular usage.  I am going to say that renters are harder on place for one reason.  THE RENTERS DO NOT CARE ABOUT YOUR HOME.

This obviously doesn’t include all the exterior repairs that you will have to do.  Not to mention all of the little repairs that you will have to do or have someone else do them.

Now that you look at all these things you will have to replace you are wondering if you will even make it the 30 years to have it free and clear. 

You can see how with all these repairs and replacements, I would have to say no wonder my friend wants to dump all of his properties!  He has set himself up for disaster.  If he is not making any money now, he will never make money and he will continue to lose money.

You can see through this example that your chances of being successful with rentals is slim to none.  Look for other articles coming soon to find out how I recommend dealing with single-family rentals.

For all your Utah real estate needs

Contact

The Bronson Barber TEAM

801-712-1607

bronsonbarber@gmail.com

Why Renting Is The Worst Thing You Can Do?

I have seen a lot of reports and information over the years about renting vs. owning.  I am here to say that renting does you no good and can have a bad impact on you in more than one way.

First of all I like to look at renting as having a job.  You go in to your job everyday hoping that you still have a place to call yours and a paycheck to collect.  What some of you have experienced in the past is that you think everything is great, then boom you are out on your butt.  Your employer doesn’t need you or doesn’t want to pay your high cost when they can get someone else for less money.

You can say renting is the same way.  You don’t own the place you just get the pleasure of staying there.  You have no control over what you can and cannot do.  Remember that list of rules that you signed when you got the opportunity to live there?  That thing they call a lease.  Now if you thought you had control think again.  A landlord can have you out on your butt any day of the week if he wants to.  If he can prove that you didn’t follow their rules to the T.  Or your lease is up and they want to raise the rent.  What can you do?  Nothing.  Pay it or find another place to live.  It is that simple.

Now let’s look at owning.  Can the bank kick you out?  Yes, but not as easily as a landlord.  Does the bank care if you paint the walls?  NO.  Does the bank care about anything as long as you pay them? NO.

Now some of you may be saying I don’t want to do any of the maintenance of owning a home.  I know that a lot of landlords will make you do all the maintenance up to a pre determined dollar amount, usually $100.  So if you are already paying most of the maintenance, what is maybe a couple of other expenses, if any?  You see, landlords know that most things will be under a certain dollar amount.  That is why they make you pay for it!

If a big thing comes up, most landlords have some sort of warrantee on the property that covers it.  They make you pay the deductible because it is under their pre-determined price that you are responsible for.

Another thing is that you don’t get any Tax advantages.  If you could deduct most of your rental payment on your taxes, would that increase your refund?  Most likely yes.

You might be saying, well I am not a homeowner because look what is happening with the prices right now.  Yes they are leveling off or coming down a little bit.  What everyone is not focused on is how over the past 4-5 years they have been going up fast.  So a little drop isn’t going to hurt if you are into the property for the long term.

Real estate is a long-term investment.  Forget about the short term.  Real estate is always a cycle.  What goes up must come down and what is down eventually comes up.

My best advice is to forget what you hear on the TV.  They don’t know anything and it is there JOB to give you bad news.  That is what keeps you coming back.

Also stop renting and start owning!  If you want to own a home there is no reason why you shouldn’t have one.  There are thousands of ways to own a home you just have to find one that works for you.

For all of your Utah real estate needs

Contact the Bronson Barber TEAM

801-712-1607

bronsonbarber@gmail.com