At this month’s meetup, you will learn another acquisition strategy: how to analyze and purchase pre-foreclosures and brand new apartments before they’re constructed, otherwise known as pre-sales. With pre-sales, you can buy real estate well below market value with little to no money out-of-pocket by leveraging both bank loans and other people’s money. (See this article for an introduction to the jeonse strategy of investing using your tenant’s money.) Our speaker is John Choi. He was a corporate bond trader and has extensive experience purchasing bad credit and short sales. Banks would offer to sell John and his company pre-foreclosures, and he and his team would analyze the deals and buy up the best ones before they were put up for auction.
Two of our members, Jacob and Victoria Michaels, will divulge how they've purchased over a dozen investment properties with a total asset value of more than two million dollars using money they've borrowed... for free!How is this possible? By using the jeonse strategy - a form of creative financing. We've written about that here and here.