63. Make $30,000 over 5 years Family property flipping with mortgages to cover expensive debt

Make money with property flipping with mortgages: you can get a mortgage for your children or for other family members and take a profit for taking on the risk of a mortgage.

Here is an example:

Your child cannot get a mortgage himself/herself. You buy a house for $150,000 for your child he/she likes. After 5 years, if your child can get mortgage, he/she has to buy (thus mortgage) the house for $180,000 from you, you make a quick $30,000 profit in 5 years, which you could gift back to your child.

Meanwhile, your child needs to make the monthly mortgage payments (as rent) and knows that in 5 years, the house is his/her. You could, but not necessary, sign a contract that in case your child buys (thus mortgages) the house in 5 years, he/she has to pay you $30,000 more.

The good thing is that the $30,000 profit, which comes from a mortgage your child takes (he/she pays over 20-30 years), could be used by the parents to cover expensive credit card debt for the family, cover expensive credit card debt for the child or cover the student loans of the child, resulting in monthly savings for the family ($100rds per month).

Be careful when exiting a mortgage, closing costs may apply, contact an attorney first.

Also check out idea nr. 78: $$ Save $1,000s per year 40 ways homeowners save on taxes

Also check out idea nr. 90: $$$ >> Make $2,000+ per month Become an Make-Money-Become-Millionaire consultant!

< Back to list
Please tell your family and friends about this website! Share on Twitter & Facebook!



Please also check out these millionaire-ideas:

77.$$$ >> Make $1 million+ over 20-30 years Become a millionaire Purchase foreclosed properties, renovate them, and resell them for profit or rent them out

118.$$$ >> Make $1 million in 24 years investing $1,000 per month in dividend stocks

148.$$$$$$$ >> Make 100% return per year on the stock markets with FinViz stock screener - Turn $5,000 into $600,000+ in 12 months time!

154.$$$$$$$ >> How to turn $100 into $1 million in less than 2 years time on the internet - Fastest way to become an internet millionaire!

Don't have a job? No problem!

140.$$$$$ >> Make $1,000+ per month - Make $30/hour testing websites

141.$$$$$ >> Make $1,000 per month - Make an easy $1,000 per month online

124.$$$ >> Make $1,000 - $10,000 per month with TaskRabbit
Please tell your family and friends about this website! Share on Twitter & Facebook!
Please visit this website daily and share this awesome website with your family and friends!
Tell your family and friends, about this website, and ask them only $200 per month for you reviewing the hundreds ideas of this website with them and become their financial adviser! You get 10-30 clients in no time and you make $2,000-$6,000+ per month in no time!
This website is a financial goldmine! Please check all 241 ideas and you become millionaire!
CONTACT US
Share this website on Instagram and on your website!
Please share this website with family and friends, on Facebook, Twitter, Instagram, by Email, by SMS to help them become financially successful and financially free. Many ideas are $10,000+ per month make money ideas. Keep on reading...
BACK TO OVERVIEW/LIST
You like this idea?
Then bookmark
this webpage!