If you are considering getting involved in investment real estate, let me offer some of the amazing information available in my wealth-building system, Winning the Mortgage Game. In several parts of my system, I outline a strategy for getting started in investing in real estate, without being a landlord. Also, it can be done without a lot of money up front. The method I describe is purchasing mobile home notes.
A mobile home is a manufactured home, which has no land attached. It can be purchased and moved or purchased at a mobile home park. Now, you can actually purchase the mortgage from a private investor — meaning you will own the right to collect payments from someone who owns the mobile home.
In other words, you will be the bank — the entity holding a note on a piece of property, collecting monthly payments.
You are not, however, a landlord. The people paying you actually own the property. They maintain it and fix any problems that arise. You, as the bank, have the right to foreclose, if they stop paying. But, if you’ve bought carefully, you will never have to worry about them not paying.
Now, this is just a cursory lesson on owning a note.
For more details on owning a mortgage and collecting payments, as a way to make money in real estate, get the wealth-building system Winning the Mortgage Game.