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Real Estate Investment

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Day 4: Take over the seller's mortgage payments



However, due to rising interest rates that began in the late eighties, virtually all home loans issued since then contain a "due on sale" clause. This means that when ownership of a property is
transferred, the lender can demand payment--in full--of the outstanding loan.

However, "due on sale" is merely a clause--not a law. It is the lender's prerogative whether or not to exercise this clause. If you buy a property and take over the loan payments, there is a distinct
possibility that the lender won't even notice. There's an even greater chance that the lender will choose not to exercise the due on sale clause, as long as you make timely payments.

After all, the cost of enforcing the clause is significant, and as long as the lender is being paid, it is unlikely to care who signs the monthly checks. You can potentially buy properties without a credit check.

There are ways to profit from real estate without significant financial investment. That is not to say that success comes free and easy. At the very least, you will need to make a substantial investment in yourself. In order to succeed, you must be willing to work hard.

Even with a million dollar real estate portfolio, your brain will always be your #1 asset. Be sure to invest in your education on a daily basis and learn as much as possible about your local market, real estate law, and investment strategies.

That is all our lesson for 4 Days. It has been pleasure to have you with us in all these days. I hope to hear from you soon. Do send us an email to ask any question you like. We will try our best to provide you the best answer. After all, this is what we are doing. Hope you have learned all the secrets in investing property. Good luck and all the best in your property investment journey.