Q: "What are my costs?"
A: The normal processing fee is $1500 per property, but New Clients Receive Their First Transaction FREE - absolutely NO COST to begin investing hands-free today. Standard management company charges come out of the rent. No charges any vacant month, AND we pay your mortgage.
Q: "What's the catch? Is there a long-term obligation?"
A: You have no cost, we do everything, and you get all the profit from the rents and the final sale. You can sell it, cash out, and end the contract at any time with no penalty. Or, keep getting the rental income as long as you want. We can manage it, or you can. There is no obligation to continue, and no obligation to do any other deals.
Q: "And all it takes is my credit - no cash?"
A: With a FICO score of 680 or higher, and $60,000 or more household income, you can participate.
Q: "So why do you need me?"
A: Our focus is on providing affordable housing for families. Out Estate Investments makes its profits through our negotiations with cities, in advance. Leveraging investors' credit resources lets us use our cash reserves for appraisals, title, closing costs, etc.
Q: "How soon can I get into a house and make money?"
A: First, we must receive all of your supporting documents, then you will be placed in the property acquisition queue for the next available property. From the time you are matched with a house, it will normally be completed and rented in 45-90 days.
Q: "Will this affect my credit?"
A: Each property is income-producing, creating little or no effect on your credit (and we pay your mortgage if it's vacant).
Q: "How many houses can I do? How much can I make?"
A: You may invest in up to 10 homes each year, based on your credit and income. Your profit depends on the property, and we give you a complete prospectus on each in advance.
Q: "Are these new homes, or rehabs? Where are they?"
A: We do both, in markets like Kansas City, Cleveland, Memphis and other stable areas with modestly-priced homes.
Q: "How risky is this?"
A: While no investment is "risk-free," real estate is one of the safest, secured by "real" property. Zero Money Investors have fewer risks than lone investors. Our city and financial partners often provide us with entire blocks of property, and waiting lists of pre-qualified renters and buyers! This gives us an extra "cushion" against market swings or "bubbles," which we share with you as immediate equity. Plus, we pay your mortgage payment for up to six months if the property is ever vacant!
Q: "What if I want to invest cash, or rollover my IRA or 401K for tax-deferred investment?"
A: We have programs for cash and rollover investors, depending upon how much you have to invest.
Q: "What are my next steps?"
A:
- Complete and submit the Zero Money Investor Application
- Gather and submit these supporting documents (must be received before Client may be added to property queue)
- Copy of your drivers license
- Last two year's tax returns and W-2's
- Pay stubs - last 30 days
- Provide two month's bank statements (all personal, business and investment accounts)
- List of any other income sources (retirement, social security, child support, etc.), and any other real estate properties, their value, lien and monthly payment
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