Friday, September 05, 2008

What's the Deal?

I've already gotten a few "What's the opportunity, can I get in" emails from my readers. If you're wondering but haven't felt comfortable asking, here's how I'm getting wealthy.

I'm basically doing PR for a company that sells condos and townhouses. They snatch them up from developers that are going bankrupt at a huge discount because they buy the units in lots of hundreds or even thousands. Then they take the appraised value of the place, knock off a percentage, and resell them. The buyers get instant equity in the property.

Then this company offers to lease back the property for up to 30 months. They pay everything and a little more, so the buyer gets instant profit. The buyer isn't obligated to lease the property back to the company, if they don't want to, and it doesn't affect me one way or another. The company is only offering it as an incentive to turn over the properties fast and make their markup. In 30 months, they expect the market to have turned around enough that most of the buyers will be ready to sell at a nice profit. In the mean time, everyone's renting until the market stabilizes, so they make a profit sub-leasing the properties to whoever they can find.

Even if the properties sit empty for 30 months, they still pay the buyer the same amount as if they had sub-let to another tenant. They can do this because they already made a profit on the original sale. For the duration of the lease, they pay for maintenance, repairs, equipment, and everything else that a home owner is stuck with if they try to manage the property on their own.

It's pure gold. Everyone wins. The properties have never been lived in, and come fully equipped with the latest amenities. It's a beautiful thing. All a buyer needs is around $20,000 to cover ten percent down (on the lowest-end properties, much more if you want a million dollar property) and closing costs, and you're in. Each month the buyer gets a check from a company that has never missed a payment in 38 years. That check is more than the mortgage if they've put at least 10% down, and the difference goes right in their pocket. Or towards the principle. It's 30 months of guaranteed rental income that can be used to qualify for more properties. It's a sweet deal.

That's the opportunity. I get a percentage of the sales. If you want in, refer some business or invest yourself, and I'll pass on a percentage of the total sales to you. $1,000-$10,000, depending on the amount of the property your referral purchases. You won't get paid until I do. That means if you're investing yourself, you'll be paying some money up front, and when I eventually get my referral check, I'll send it to you. Don't try to include that money in your calculations to figure out if you can afford to invest. It's a trust thing, but the only way I can succeed at this is by being honest and building a good reputation.

It's only good while the market is cold. When it heats up again in about 18 months, we'd better have made all the money we need to retire, or at least invest in other money-making ventures. Otherwise we'll have to go back to work for a living. And I ain't goin' there. Fuck work, pardon my French. I hate working for other people. Shit rolls downhill, and I want to be as high on the hill as I can get.

If you have dire warnings about this opportunity, feel free to send them, but they will be ignored. I'm already making money on this.

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