Peggy Sandefer: as you state your question, it seems to me that you are looking to hook up with others with money in order to invest in real estate? i have done my research. no, there is no group that publicizes that scenario in the usa. a good example of a nationwide group that makes money off of mortgages would be FANNIE MAE. there are a few others too. what those people do, which you can do too, of course, is to take your money and buy shares in it, equivalent to buying up parts of mortgage portfolios. a portfolio is a grouping of mortgages that a bank has lent on, but which they sell, to the "secondary mortgage market," in order to get cash flow so that they can again lend. and so it goes, over and over again.another way to join is a group in a REIT, or real estate investment trust. REITs got popular for a short time in the late 80s and early 90s, but i haven't heard of many of them operating these days. they were registered securities, on the stock market. ! i just don't remember that much about them to tell you what i want to. you can look up terms such as LLC and tenants in common using your search engine. sometimes, not always, a limited liability corporation would be set up for purpose of ownership in real estate, with the individuals acting as tenants in common. however, if you talk to your real estate attorney, you may want tenants in the entirety, which is essentially a joint tenancy (used mostly by married couples to avoid passing a house immediately upon death to their spouse), but it is exceptional in that if either of the partners accumulates bookoo debt, the real estate itself cannot be attached by liens of those creditors. i do not know if an LLC would be able to have tenancy in the entirety. i doubt it.i caution you on forming a partnership to buy small pieces with your friends. if you do, you had better first write the most solid partnership agreement with the guidance of a real estate and corporation attor! ney that you know. why? because no matter what the agreement! says, there are always little things that must be taken care of and neither one of you wants to do them. there goes your friendship. you really have to be careful, too (because i've done this successfully) to separate personal business from money business. it would really be hard to form a large partnership with people that you know. a partnership buying up a lot of real estate must have hundreds of thousands in cash, just to do the large deals that make profits. too many americans are in too great of debt to do it. wow, it sure would be fun, though. let me know if you find one....Show more
Hubert Jestes: http://www.scbuyshouses.comThey are a Nationwide investment firm that is in Chicago. Their site has free resources, calculators and a very Massive directory.
Margy Sandquist: 1
No comments:
Post a Comment