Let's Flip the Script...
Active Income vs Passive Income
Have you ever finished up a remodel on a nice house or condo and then notice the owner of the place immediately fills it with some tenants? He gets to profit each month from the rent paid to him via the tenants while you are off trying to find the next job to start on. The property owner is benefiting from PASSIVE INCOME while you are constantly creating ACTIVE INCOME.
Passive income is any money that comes to you whether you work for it or not. For example, a landlord who owns multiple properties around town and fills them with tenants who pay him rent each month. That is passive income, it will continue to come to him whether he does any work or not.
Active income is money that is paid to you once and then must be earned once again through more work. If you decide not to work, guess what?...You don't get paid! So what does the property owner have that you don't have???....ASSETS. Assets are things that you own that pay you each month whether you work for it or not. Sounds nice, right? Here's the problem: a lot of contractors and handymen do not have an extra $45,000 to $100,000 sitting around to purchase properties. If you're a contractor who has those kind of resources, then Benaiah Property Solutions is probably not what you are looking for. But for the rest of you...keep reading!
Our Process Is Simple, But Effective
1. The Purchase
1. The Purchase
1. The Purchase
Benaiah Property Solutions will locate a home in the community that no one else wants that we can purchase with a full-cash offer.
2. The Rehab
1. The Purchase
1. The Purchase
We then will sell the home to you, the contractor, utilizing specific "lease-to-own" financing allowing for a much smaller down payment than banks require, AND more manageable monthly payments. You get started rehabbing the home as soon as you are ready.
3. The Payoff
1. The Purchase
3. The Payoff
Once renovations are complete, you (the new home owner) can choose to either sell the property at market price OR bring in tenants who will pay you monthly a greater amount than your mortgage on the property, which yields passive income for your family.
Example....
Example....
Example....
Down payment on the "contractor special" home: $3000
Monthly payment: $850
Example....
Example....
Renters move in:
Monthly rent: $1550
Net gain each month: +$700