Originally Posted by
DeadHead
That would be a great idea, if only banks would be willing to lend money, but that was, after all, how we got into this mess.
No offense, but I can't see any bank giving out property investment loans to individuals who currently have a mortgage and don't show enough money to justify a loan.
Now, if your talking about first time buyers, looking to purchase a duplex with a few units, live in one, and rent out the other, then maybe you could convince a bank to give you a loan.
As a young and broke pilot I began buying homes with the intent of living there. After 6 months I would have filled it with crash pad pilots or would have rented it out to someone else and moved on to another purchase.
Homes can be accumulated in this matter.
Aside from that sooner or later the banks will have to let go of the purse strings. The individual will be less likely to buy a home in the future. If banks want to get all the bad loans and foreclosures off the books then they will have to begin dealing with investors.
Skyhigh