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Haveyou ever thought how people get to build so much of equity, thattheir next generations dont have to worry about anything and thatthey manage to get some monthly payments for their own living aswell? The secret lies within San Diego foreclosures.Therehave been a lot of people who buy these properties and put them onrent just because they have their own house to live in.Theirmain aim of buying San Diego foreclosures is to build their ownequity. When the entire world is going after the foreclosedproperties these people started to look at things in a different way.Some of them had the funds available which they just had to pickupand invest. However, there was a smarter section of people too. Thesepeople did not have the money to buy these properties and could noteven afford paying for the mortgage, but had the funds that theycould pay as down payment as well as for renovation. This section ofsociety started to invest in San Diego foreclosure listings with thehelp of the banks who were willing to offer them financial help.Theytook the opportunity and once they got the property and got itrenovated rather than selling it off they decided to keep them. Nowin order to come over the problem of getting the monthly mortgageinstallments, they decided to put the property on rent. They knewthat they might not be able to get the entire mortgage payment in theform of rent, but where comfortable to pay a part of it. This waythey were not only able to build equity by paying half the cost buteven shared that half with someone else. For example, if you paid$5,000 on renovation, $10,000 as down payment and got $40,000 fromthe bank, for which the bank will be charging you approximately $3000a month. You have put the property on rent from where you will begetting $2,000 by placing the property on rent where are paying$1,000 from your pocket. This way you are not only get the propertyat almost half the rate but will be paying approximately 15% to 20 %of that half as well.
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