OfflineI am new to REI. In reading through the forums I've noticed many comments that suggest that a deal does not have enough equity in it? What exactly does this mean? Is the equity being referred to the equity the seller has in the property? If not please explain. Thanks.
__________________
Amicia
eg. 400k mortgage after payment of 10yrs the mortgage is reduce to 300k. the home owners equity would be 100k.
Typically property values will go up over time so if in 10 years you have paid off $100,000 that is only part of the equity, now the property is worth $450,000 so your equity is $150,000.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
it goes either way over time. He might consider pay the seller his/her down payment too.