The world of real estate is complex.
In fact, buying a property in general is over-complicated. With all the paperwork, hidden fees, phone calls… there must be a BIG return on investment for it to make it worth your time.
That’s why I’ve decided to turn my focus on as little down payment as possible that turns into the largest profit possible…
Are you ready to kick start those monster profits?
There are many facets of real estate, but the type of real estate that’s going to get you BIG profits is rental property…
Imagine being paid $10,000 on the 1st of each month while you spend the rest of the month doing whatever you please.
That’s what this real estate rental technique can do for you if you follow my directions.
These properties that could pay you $10,000 a month come in the form of downtown condos.
To start, you want to seek out your first monster profit property…
You can do this by using tools like Zillow.
When you go to Zillow.com, search for condos in a highly populated downtown area.
You don’t need to live in this area, I’d just highly recommend your first property be within 30 miles from you, so you can keep a close eye on it when you need to.
In today’s market, you could find a downtown condo that’s selling for around $200,000 depending on where you’re looking.
You’re most likely going to have to take a mortgage out for this first one, which won’t seem like such a scary prospect when I show you the numbers.
A 30-year mortgage on a condo valued at $200,000 (with a $20,000 down-payment), would amount to a monthly payment of around $1,242 including property tax (in the current market).
So, you’ve got your monthly payment of $1,242, but you don’t have a tenant. That shouldn’t be anything to worry about with a condo in a highly populated downtown area.
Condos in these areas usually have very little vacancy and the turnaround time is usually no more than a week (less than 24 hours in some cases).
With a condo at that price, you could expect to rent it out for about $2,000 a month.
That easily covers your $1,242 mortgage payment, but it’s extremely important you don’t pocket the remaining $758.
In a little over a year, this money will amount to another down payment on an identical property.
At that rate, you’ll have $4,000 rolling into your bank account each month—$2,484 will be paying off your mortgages.
As you continue to pile up your rental properties, your real estate profit will start to compound and increase rapidly.
And as you move forward you can start adding two-bedroom condos to your portfolio, which can be rented for $2,400 a month or more.
Building up to 6 two-bedroom rental properties will see $10,000+ flooding into your bank account each month.
As you use these real estate building blocks, your mortgages will quickly become paid off and you’ll start to turn a quick profit.
You’ll soon be able to buy your properties in full and then the entirety of the $2,000+ in rent payments will be yours.
At that point, 6 two-bedroom condos would hand you a large monthly sum and you wouldn’t have to do anything other than pick up your checks once a month…
Following these steps successfully will turn your tiny down payment into a monster profit in no time.