How to live in a mini mansion for free for 6 months

NEW -> Contingent Buyer Assistance Program
"If you know what you're doing, you can get six months in a place with a kick-ass view," Ragsdale said.

Heh heh.....he said ass.

I know Chris, I'm sure he'll be busy working on these problems. We have a lot of crafty gypsies on the Westside, they are the masters of the scam. True, police will most likely not get involved in an issue like this.
 
I think this would be a good business to start. The homes are going to sit for awhile. Have the banks pay you to live in the house until foreclosure is complete.
 
I could foresee a situation where banks might just offer crazy low rent to highly qualified individuals just to curtail scams like this.

Did they do this kind of thing at all in 93-95?
 
OK, business plan. Now ! Wendy....you are a genius ! Business would create a pool of short term renters who are pre-qualified (credit and background check). Charge the banks a "finders fee" and accept some sort of responsibility for the "tenants". Hmmmmm. Probably would have to sign a waiver releasing bank of any liability from personal injury/theft/burglary....etc.
 
Or maybe us renters can just approach the banks on our own and offer to live/caretake the properties.....

It would be a hassle though because as the bank is trying to sell, potential buyers would have to have unlimited access to the dwelling.

I like the concept though ! Someone try it.
 
i recall reading an article of someone who looks after for-sale houses professionally, so the house wouldn't look "stale" while being shown. this is the same concept, no?
 
Looks like unmaintained foreclosures are a big deal. So we have to get Irvine residents together to pass a local ordinance.

http://www.npr.org/templates/story/story.php?storyId=12623065

"Home foreclosures jumped nearly 60 percent during the first half of the year, and many of those foreclosed houses are sitting vacant. That's a problem because empty properties soon become unkempt lots that are an eyesore for neighbors, potentially devaluing their properties.

Residents of Chula Vista, Calif., have fought back, passing a law that requires lenders to hire a management company to take care of houses that their borrowers can no longer afford."

Our management company can design, stage and maintain the home. The "renters" just need to be out of the home from 9am - 5pm. everyday for house showings.

Since banks don't want to pay out any money, payment will be a 10% lien on the house when it sells. This way both the management company and bank will be motivated to get the best price possible.

What do you think? Sorta like a Designed to Sell show?
 
You must log in or register to reply here.
Back
Top