Say you have 50k cash in your pocket and no home

[OZZ_]

Most people will tell you to start a small biz..doesn't really matter what it is, but a field you are familiar with would make the most sense. Filter money in as you can...other than that putting cash away for the future is never a bad idea. Most people have a 401k, i'm just going to have a pile of cash when i retire (well i guess i already have retired, but you know what i'm saying).

To be honest though would really like to hear imput from people who know. As I would like to buy some land, build a house, grow and sell, just trying to justify having 100k to build a house will become the problem if it ever surfaces with big bro..

Agreed. Anyone with some real input Im sure theres more then a few that would like to know.

Heres what I got to thinking about the other day. OP Im sure this is something you have thought about too.

Back in the day I made about $150 per .... well ... lets just say "item". Sold about 10 of those a week. For a looong time. I did pretty ok the math there isnt hard. You know what though ... for a small period of time I upped the stakes and made only $25 per "item" .... but stepped into a position where I moved 160 a week.

Thats $6k a month vs $16K a month. I made the most money when I made only a small amount but sold more. Funny how that works right?

Well in todays world if you wanted to go legit. It really shouldnt be that hard to make say $10 on any item you want... legally sell something. Be it pizza, beer, bikes, whatever. How hard could it be to make $10 per item and sell 300 of those per week?? Think about it. Previously.. I had to actually get rid of a client if I found out he was advertising for me. If your trying to go legit ... you WANT people to talk about you. Not only that but you can literally tell the world via radio, TV, ads, word of mouth, etc, etc.

Opening poster ... this might be able to help you too cuz without a legit income stream Im not sure your getting away with buying a home.

So how does a guy connect the dots? $10 per item @ 300 per week doesnt sound hard at all. Thats about $9K per month. Oh wait .. theres that overhead shit to worry about. Well .. what about being a middle man, distributer or something?

Ive been racking my brain trying to figure out WHAT item can I sell, legally, that fits these criteria? It must be easily stored (storage facilities are cheap), I need to be able to do it myself with no employess, and preferably without a store front (although thats certainly optional).

Coffee beans maybe? LOL ... hell, take profit to $5 per item and up the amounts to 600 a week. Maybe a coffee shop how hard would it be to sell 700 coffees a week? Thats 100 per day? Then again coffee shops go under all the time ... lol

Whatever- you get my point .... all you need is a source ... and then you can scream from the mountain tops to find buyers... which is something before I couldnt do at all.

I gotta think it shouldnt be hard to connect those dots. Opening poster .... think about that and how to do it and you wont need to worry about how to buy a house.

THATS what you should do with that $50K. Figure out what "IT" is and use it to buy inventory.

 

[CFL_Grow]

This is easy in today's world,you need to buy the one thing that they don't make anymore.

LAND

But save a few thousand for the 2 girls that as well is money well spent.

Mr.Wags

Yes. The legit money is in the bricks and dirt.

 

[CARE giver]

I like threads like this .

Well I would buy a house in a nice southern state, probably Florida.

Set up a big grow op. Find some amazing phenos. And live life the way I want.

 

[cyberwax]

I like threads like this .

Well I would buy a house in a nice southern state, probably Florida.

Set up a big grow op. Find some amazing phenos. And live life the way I want.

Can you please provide the link to a house at 50k in florida?

 

[Ami]

Geez guys, $50k can't even buy you a decent garage in europe, that is crazy.

 

[CARE giver]

Can you please provide the link to a house at 50k in florida?

Scratch "probably in Florida". Maybe Georgia ? Haha

 

[Mr.Howie]

FYI there are lots and lots of houses all over the country for dirt cheap right now.....25k in Detroit =), 25 ocean front condos in Orlando....Live the dream boys and girls!

 

[zenoonez]

FYI there are lots and lots of houses all over the country for dirt cheap right now.....25k in Detroit =), 25 ocean front condos in Orlando....Live the dream boys and girls!

Less than 25 in detroit. I have heard of as low as 500 bucks in the city. I mean def fixer-upers but 500 for the property is a steal. Lol. Wanna teach us how to find those properties and buy them with no taxable income??

 

[cyberwax]

could anyone advice on sites to be used for cheap land/house search in the usa?

 

[Sam the Caveman]

check this one out

http://lmgtfy.com/?q=land+for+sale

 

[Cheeb]

Look into HUD homes

Banks holding properties that need to get rid of them. There are incentives for 1st time home buyers and they typically take any reasonable offer then get...sometimes even lowball offers are excepted just so its out of the banks hair.

Find a house cheap enough and its a cash deal. Its nobodies business what your income is..you just need the money in the bank and typically a letter showing that proof of funds to make an official offer.

Sometimes you can get a house for whatever the back taxes are - nothing else, but I've never had success with this - always snagged up by the Realtors themselves or close people they are tipping to.

_____

PS - 3 Chicks at the same time!

 

[Bluenose510]

In cali 50K want even get you a house! But i would go to vegas drop 10k on the crap table an see if i could 50k into a couple of 100k.

 

[Bluenose510]

50K for 3 women is BIG TIME TRICKING! Its just a waste of cash when you could get some PUS for free.

 

[zenoonez]

Look into HUD homes

Banks holding properties that need to get rid of them. There are incentives for 1st time home buyers and they typically take any reasonable offer then get...sometimes even lowball offers are excepted just so its out of the banks hair.

Find a house cheap enough and its a cash deal. Its nobodies business what your income is..you just need the money in the bank and typically a letter showing that proof of funds to make an official offer.

Sometimes you can get a house for whatever the back taxes are - nothing else, but I've never had success with this - always snagged up by the Realtors themselves or close people they are tipping to.

_____

PS - 3 Chicks at the same time!

Housing and urban development? I thought you had to prove low income status to get anything from them. Again how would you find out about those homes? I mean I have asked a banker who I have done business with for years and he told me that they couldn't give that list out to anyone, that he hadn't seen the list. I have also heard about the back taxes homes but never could figure out how those guys got their hands on the listings. I might have to start looking at the gurus again and downloading their seminars and shit bootleg.

 

[Cheeb]

Checkout the following address for HUD info

H T T P://portal.hud.gov/portal/page/portal/HUD/topics/hud_homes

Paste above link into your browser without the spaces in http://
Dont like to link out from here to GOV websites or any website for that matter. While ICMAG may keep their servers and IPs safe any website you get directed to from here can clearly see where you've came from.

I'm unsure about low income status - maybe if your trying to finance through something related to HUD, but can you easily buy a house (in full) without anyone needing to know any of your info. Its simply an offer with your proof of funds (in bank) - they can either accept it or decline it. You go through a title company and handover a check from your bank.

 

[zenoonez]

Checkout the following address for HUD info

H T T P://portal.hud.gov/portal/page/portal/HUD/topics/hud_homes

Paste above link into your browser without the spaces in http://
Dont like to link out from here to GOV websites or any website for that matter. While ICMAG may keep their servers and IPs safe any website you get directed to from here can clearly see where you've came from.

I'm unsure about low income status - maybe if your trying to finance through something related to HUD, but can you easily buy a house (in full) without anyone needing to know any of your info. Its simply an offer with your proof of funds (in bank) - they can either accept it or decline it. You go through a title company and handover a check from your bank.

hmm interesting...

 

[SS-]

There are plenty houses in South Florida Especially going for under 50k, that do not need much work at all. All be it there not in the best neighborhood, but to me they are indeed the best places for ops. Yes you have to worry about security, but you never really have to worry about snitch ass neighbor's worrying about you "ruining their community".

IDGAF what anyone on the net says about getting raided for a high power bill. You have to be using a STUPID amount of power IMO, or there was other reasons. My people own's a house. It's a 2/1 with a den. House is less than 1000sq. ft. The house uses over 90kwh a day, and there ain't shit illegal going on there. There's 4 wall AC's. Old Stove and a washer/dryer that goes all day long. Shit goes up in the winter because of heaters. With that much power that's an EASY 10# five times a year.

Another thing, this is something that I will be doing in the future once I have some extra CASH money. Buy homes in low income neighborhood's, and invest that extra CASH money to fix the inside up extremely nice. Nicer than other homes in the neighborhood. im talking still under 50k here. Rent out the ROOM's weekly or monthly. Your choice. Although I prefer monthly. A lot less of contact which I love. A lady I know did this with her retirement money. Bought about 4 homes and is now bringing in over 2k per home, with a mortgage + T&I that isn't shit. Less than 500 a month. Riding in a s600 legally=the shit to me IMHO.

Currently right now I'm taking some classes so I have my shit down pact. looking at a certain place taht has 4 units. Under 100k, and should bring about 2500 a month in rent. Deal with section 8 customers. Nothing better than having a guaranteed check from the government monthly. Shit you get 3 or 4 of these, and you're set. The best shit is the mortgage with tax and insurance of these places will be covered by only 1 out of the 4 tenants paying, so it's a win-win situation. You just have to have a lot of cash money to get started in this for fix-ups. But it's completely under the radar fixing these places up with cash and to me is the best way to go.

Yes you have to do a home at a time so it doesn't seem like you have an obscene amount of cash. But hey we're only talking a 3-4 year period here, and you're kicking back enjoying life with no pressure, just have to worry about some bitching tenant's every now and then.

 

[Yes4Prop215]

In cali 50K want even get you a house! But i would go to vegas drop 10k on the crap table an see if i could 50k into a couple of 100k.

actually you would be surprised...a close friend of mine has been shopping in the chico area for a property and we almost closed on one last week for 70k! 2 bedroom but with 2 outdoor sheds and a huge backyard perfect for some outdoors next season.....it was in escrow when we finally got our shit together.

next week we'l be lookin at some in the 100k area....theres cheap housing in cali just not anywhere near the bay area...

Another thing, this is something that I will be doing in the future once I have some extra CASH money. Buy homes in low income neighborhood's, and invest that extra CASH money to fix the inside up extremely nice. Nicer than other homes in the neighborhood. im talking still under 50k here. Rent out the ROOM's weekly or monthly. Your choice. Although I prefer monthly. A lot less of contact which I love. A lady I know did this with her retirement money. Bought about 4 homes and is now bringing in over 2k per home, with a mortgage + T&I that isn't shit. Less than 500 a month. Riding in a s600 legally=the shit to me IMHO.

Currently right now I'm taking some classes so I have my shit down pact. looking at a certain place taht has 4 units. Under 100k, and should bring about 2500 a month in rent. Deal with section 8 customers. Nothing better than having a guaranteed check from the government monthly. Shit you get 3 or 4 of these, and you're set. The best shit is the mortgage with tax and insurance of these places will be covered by only 1 out of the 4 tenants paying, so it's a win-win situation. You just have to have a lot of cash money to get started in this for fix-ups. But it's completely under the radar fixing these places up with cash and to me is the best way to go.

Yes you have to do a home at a time so it doesn't seem like you have an obscene amount of cash. But hey we're only talking a 3-4 year period here, and you're kicking back enjoying life with no pressure, just have to worry about some bitching tenant's every now and then.

yea using grow profits for home repairs is a good thing....because it all adds value to your house and flies under the radar. no way the IRS can trace that shit..."i didnt install those brand new granite countertops the last owner did!"

 

[Hydrosun]

Housing and urban development? I thought you had to prove low income status to get anything from them. Again how would you find out about those homes? I mean I have asked a banker who I have done business with for years and he told me that they couldn't give that list out to anyone, that he hadn't seen the list. I have also heard about the back taxes homes but never could figure out how those guys got their hands on the listings. I might have to start looking at the gurus again and downloading their seminars and shit bootleg.

HUD and VA repossesed homes have been put on government websites and sold on an auction basis for more than a decade.

Don't waste time on real estate seminars.

All of you know I am not a fan of the government but here is a link to their houses.

http://portal.hud.gov/portal/page/portal/HUD/topics/homes_for_sale

 

[zenoonez]

HUD and VA repossesed homes have been put on government websites and sold on an auction basis for more than a decade.

Don't waste time on real estate seminars.

All of you know I am not a fan of the government but here is a link to their houses.

http://portal.hud.gov/portal/page/portal/HUD/topics/homes_for_sale

True that. I am looking for more volume of homes though. In my county they had 10. Now some of those were very good prices for their locations but hell I would rather have more to look through. Like what the hell are the banks doing with all those homes?