Friday, May 16, 2008

Another Financing Avenue?

Maybe we could do as Angel Gutierrez does:

``You buy the mortgage for pennies on the dollar, carry the big stick, tell the homeowner how it's going to be, then double your money very easily,'' Gutierrez said.


``I like the fast nickel,'' he said. ``You buy them cheap, you sell them fast and you get paid.''


Gutierrez said he'll probably offer the homeowner enough cash to pay for a mover and a couple of months in a rented apartment because, he said, many of them want to get out but don't have the money.

``I'm considered a bottom feeder,'' Gutierrez said. ``That's the way bankers see me. They only want the best loans, the loans that are paying. That's nice, but there's no money in it.''


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