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segun06
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If You Live In The US, This Might Change Your LifeI have found a path to financial freedom, that is accessible to anyone with some capital and resides in the u.s. I realized that there are three major classes we need to go through to reach financial freedom. We need to move from working class to middle class and then to super rich, and we can easily do this by buying repossessed goods, that is goods that have been repossessed by banks. A repossessed good is sold at incredibly low prices, but it still has the same quality as a brand new good. Here is the path I've chose to my financial freedom. 1. buy repossessed cars at incredibly low prices and then sell them at their market price. Save at least 50% of the profits. 2. Use the saved money to buy a foreclosed home and then sell it at its market price. Repeat until you're satisfied. Now of course to start this u need to have some money to start with, but it will be a small amount of money. Try it out, u have so little to lose and so much to gain. Plus, its a legal hustle, and it doesn't matter how many people are doing it because there will always be repossessed goods. Note: This is not a scam, if you don't believe anything I've said then do the research for yourself. Or google "repossessed properties" or "foreclosed homes". Hope u use your money towards making Nigeria a better place
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Seun (m)
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What's a foreclosed home and what is a repossessed car, and why the hell are they available at below market price?
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segun06
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When you don't pay your mortgage bills, eventually the bank will reposess your home, hence your house becomes foreclosed. And the same things goes for the repossessed car, the only difference is that the money you pay monthly is not called a mortgage payment, its call something else (can't remember). I don't really know why they are sold at such a low price, but i think its because the banks want to get back its money and so they auction off the home and get back their money. You can do your own research, as for me i really don't care why they're sold at such a low price, as long as its legal, in good shape and easy to sell then i'm all for it.
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buckeye (m)
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What's a foreclosed home and what is a repossessed car, and why the hell are they available at below market price?
the banks will sell the property for the value of your remaining balance. for example, if u borrow $10,000 to purchase the property and u are able to pay only half of the loan($5,000), the bank will seize the property and sell it for the the remainding half. did i answer the question? |
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Seun (m)
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Wow. Why don't they sell the homes at the correct price and refund you with the difference? Either the bank officials are incompetent or they are using this a a means to arrange easy profits for themselves or their friends and family members! How do you find out about repossessed homes that are about to be sold?
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buckeye (m)
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i don't really know much about the repossessed homes, but they have special places where they auction those vehicles.
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romeo (m)
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i nearly bought one of those house here in spain last year. i know a guy that does this and he's made. but you need a raw cash to buy those houses and i don't have them, i went to the bank for some loan and they refused at the last minute, this is simply an easy way of making money. give it a try guys if you have the money
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LoverBwoy (m)
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Wow. Why don't they sell the homes at the correct price and refund you with the difference? Either the bank officials are incompetent or they are using this a a means to arrange easy profits for themselves or their friends and family members!
LMAO!!!  |
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Kokscity (m)
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@Loverbwoy
Instead of Laughing, explain it to the Young man, let him understand.
Segun you too can do a better job of explaining the post better.
If una no fit explain am well,well, make una call me!!!!
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LoverBwoy (m)
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kokscity
I just love the way he put the nigerian thingy into it
"the bank officials are incompetent"
"easy profit for themselves and family members"
Repossession is not a new thing,which means its a standard, no one is been ripped off
Seun knows how to google well well so im sure he'll come back full of info and even links
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larger_20 (m)
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Wow. Why don't they sell the homes at the correct price and refund you with the difference? Either the bank officials are incompetent or they are using this a a means to arrange easy profits for themselves or their friends and family members! How do you find out about repossessed homes that are about to be sold?
its against the law, if the bank do that, u can file a law suit against them. I see the advert everyday. Its true and real. Banks liquidate funds here, same goes for people paying annuity for purchases like cars and landed properties |
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Seun (m)
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In that case, the problem must be that people are not really aware of this market. According to economics, the prices should be jacked up as people become more aware of these sales (if they are auctions) or there should be scarcity of such homes due to rushing (if they are selling at fixed low prices). Segun, how many such homes have you actually bought and sold?
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larger_20 (m)
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People are aware but it does not only end in just buying item, there are down sides to it. Which means for example, the cars are second hand, and anything second hand in the US is sold at lower prices. Interms of the housing, House is a landed property and they treat it diffrently, I am sure there are line ups of real estate agents waiting for banks to liquidate housing, they buy it and propel the prices. google for forclosure homes,
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segun06
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i nearly bought one of those house here in spain last year. i know a boy that does this and he's made. but you need a raw cash to buy those houses and i don't have them, i went to the bank for some loan and they refused at the last minute, this is simply an easy way of making money. give it a try boys if you have the money Well i realised most people don't just have $5,000 or more just sitting in their bank accounts and thats why i proposed buying repossesed cars first. You could get a repossesed car for under $1000 and make a huge profit by selling it. After doing that for sometime you should have enough money to buy a foreclosed house (and if you don't, then go back to Nigeria and ask for forgiveness from anyone you might have offended). Besides, some of those houses sell for no down payment. In that case, the problem must be that people are not really aware of this market. According to economics, the prices should be jacked up as people become more aware of these sales (if they are auctions) or there should be scarcity of such homes due to rushing (if they are selling at fixed low prices). Segun, how many such homes have you actually bought and sold? 3 and i made a $500,000 profit. Instead of Laughing, explain it to the Young man, let him understand.
Segun you too can do a better job of explaining the post better.
If una no fit explain am well,well, make una call me!!!! Well, i expect anyone who reads this to be smart enough to know that you have to do some personal research before making any big financial move. And i can talk so bluntly because i don't expect anything from anyone reading this i just believe if there are more rich Nigerians maybe someone will have enough sense to try to make some changes in Nigeria/Africa. And incase you don't know, 90% of the rich folks in the u.s made their money through some kind of real estate. People are aware but it does not only end in just buying item, there are down sides to it. Which means for example, the cars are second hand, and anything second hand in the US is sold at lower prices. Interms of the housing, House is a landed property and they treat it diffrently, I am sure there are line ups of real estate agents waiting for banks to liquidate housing, they buy it and propel the prices. google for forclosure homes, Well you see some people are aware of it but most people aren't. This is the harsh truth, most of the people who don't know about it are either from minority races or really poor white folks. With hiphop promoting the rich lifestyle, more people are trying to imitate what they see and buying stuff they can't afford, like a 22'' rim on a chrysler gt, when you not even worth half the price of the thing. My point is: More people are getting to know about foreclosed homes, but there are even more who don't know how to get in on the action. Besides, there are so many of this things you don't have to sweat if someone beats you to a particular sale, because tomorrow there will be another house. |
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larger_20 (m)
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Well you see some people are aware of it but most people aren't. This is the harsh truth, most of the people who don't know about it are either from minority races or really poor white folks. With hiphop promoting the rich lifestyle, more people are trying to imitate what they see and buying stuff they can't afford, like a 22'' rim on a chrysler gt, when you not even worth half the price of the thing. My point is: More people are getting to know about foreclosed homes, but there are even more who don't know how to get in on the action. Besides, there are so many of this things you don't have to sweat if someone beats you to a particular sale, because tomorrow there will be another house.
I don't think its only the poor families, infact i will argue that the poor people know becasue they want to buy things at the cheapest rate. RIch men don't really have time to start from scratch, rather they will go for it when its ready. I know this cosi know a rich man that bought a duplex in jersey for a whooping $650,000. Regarding your profit, I am not surprise at all. Finally my question for u, do u know if need a real estate license to buy and sell homes? Please clearify |
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obong (m)
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seun isnt completely wrong. some of these banks do reposses the property and sell them for their proper prices, then lie that it was sold for less and come after the debtor for the balance. thats where i come in and sue the bank or finance company for fraud and deceptive business practices.
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Skidoc (m)
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Well i realised most people don't just have $5,000 or more just sitting in their bank accounts Hello Segun, are foreclosed homes that cheap or you are just citing an example? Can one actually get a foreclosed home for just $5000? |
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obong (m)
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you can get them that cheap,but its usualy in very bad areas and would need a lot of work. sometimes not much resale value
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IAH (f)
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Does anybody know if this sort of thing is available in UK?
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segun06
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do u know if need a real estate license to buy and sell homes?
No, but you might need a real estate agent for legal advice and a list of foreclosed homes in your area. Does anybody know if this sort of thing is available in UK? I think it is available in everywhere there's a bank loaning people money. Matter of fact, i think its available in Nigeria. I once heard that the custom offices auction off stuffs that they seize for extremely low prices, but you'll probably have to pay off some folks. |
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larger_20 (m)
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I think it is available in everywhere there's a bank loaning people money. Matter of fact, i think its available in Nigeria. I once heard that the custom offices auction off stuffs that they seize for extremely low prices, but you'll probably have to pay off some folks.
It is available in nigeria but the peson buying the property is likley to face illegal battle from the orginal owner of the property. They could use juju etc to hamper him down. So avoiding is the best in nigeria |
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Skidoc (m)
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Segun, being that you are an insider in this, please answer my question. Can one really get a foreclosed home for $5000?
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segun06
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It's just like Obong said: you can get them that cheap,but its usualy in very bad areas and would need a lot of work. sometimes not much resale value If you have enough money, you can fix up the house and add some things that will improve the value of the house, thus increasing your profit. Here are some parts of the house you can fix up to add more value to the house: 1. The Exterior of the house. 2. The Kitchen. 3. The basement. 4. The fireplace. Or if you are patient you could just wait a couple of years while the value of the house increases. |
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