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Is there a better way to purchase investment housing than a mortgage? How can people afford to do this?

August 10th, 2010

I own the house I live in (a small part of it), a condo I rent out, and I’m looking to expand. I have excellent credit, money to make a 20% down payment, and I’m looking at buying a relatively cheap pre-forclosure house. I’m getting high monthly payments estimates from mortgage companies. I’d make next to no profits. How do people afford to buy and make money off of investment properties? Is there secret funding somewhere?

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Tags: credit money, estimates, investment properties, mortgage companies, profits |

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How to purchase more than two investment properties?

July 21st, 2010

My question is how do people have many investment properties say 7-10 0,000 properties? When you try to get financing for more properties wouldnt you you be so far in debt? I know that you rent out the properties but you cant make that much profit after the mortgage payment. For example if you have 7, 100,000$ properties renting for 1500 a month with a mortgage of 1000 for each your only netting 3500 a month and in 0000 worth of debt so how can you keep getting loans for more properties?