This is a fast and exciting realestate game where properties increase or decrease in value. Any virtual real estate investor can make a fortune in one day. The ‘real-time’ game play depends on various economic changes and decisions that must be made throughout the game play. Since the city operates 24/7 one day can be years in the Virtual City.

 Values of the virtual properties as in real life depend on the number of people living in the apartments, the living conditions and other economic factors. You can play for Virtual or Real Money. Owning one or more of the properties available for purchase will allow money to be made or lost depending upon the value of the virtual property increasing or declining.

Once you purchase a property you will be able to purchase upgrades to help improve your overall property value and your occupany rate.

 Play other virtual property owners on a peer to peer basis. Quick decisions must be made to sell or keep the property purchased. When a property is sold, the funds are deposited in the owner’s account. All computer controlled aspects of the game are dependent upon the actions of owners of the properties. The choices made, properties bought and sold and trends in the neighborhood all are factors that will affect the price of the properties.

 To learn more about this real money online game go to http://www.playvirtualcity.com/. Sign up and receive 20 virtual dollars free to start off the game. Virtual City is waiting for the arrival of new investors.

Most of us are smart enough to realize that no real estate “system” is foolproof, and if anything seems too be good to be true, it probably is. However, that doesn’t mean that you need excellent credit and a surplus of cash to get started in real estate. Here are some strategies for financially-constrained aspiring investors to begin generating real estate cash flow.

You Don’t Have to Own a Property to Make Money From It – Be a Dealer

There are two types of quick-sale real estate investors – retailers and dealers. Retailers buy properties outright and sell them for a quick profit. Their risk is highest, but so is their potential reward. Contrary to the late-night realty televangelists, retailers typically need substantial cash for a down payment, and at least decent credit.

Dealers, by contrast, buy and sell contracts, not properties. They find bargain properties and sign purchase contracts with their sellers. Dealers then sell these purchase contracts to retailers, making a solid profit in the process. This is known as “assignment of contract.” Usually, the only cash required is the earnest money to secure the deal. A good dealer can then flip the contract for a quick $1,000 to $3,000 without ever taking possession of the deed.

Use a Double Closing for Greater Profit Potential

A double closing allows a dealer to earn a higher profit margin than an assignment of contract. With an assignment of contract, there is always potential that the deal will ultimately fall through. The dealer is protected in this case because she has already received her proceeds from the sale of the contract, but the retailer who buys the contract from her is wary of the deal falling through, and thus, will factor it into the price he is willing to pay. With a double closing, the dealer assumes more risk, because if the deal falls through, she receives nothing. However, with this greater risk comes a greater reward.

A double closing begins with the dealer signing a purchase contract with the property owner. Then the dealer signs a contract with the retailer, in which the retailer agrees to buy the property from the dealer at a higher price, and deposits that amount in escrow. The property owner signs the deed to the dealer, who then signs it to the retailer. The retailer then signs the loan documents, and the process is complete – the property owner is paid his asking price, and the dealer is paid the difference. Note that the dealer came to the table with no money, and her credit was never an issue.

Be a Scout – No Cash or Credit Required

In addition to dealers and retailers, scouts are a third type of real estate “flipper.” Instead of flipping actual properties or contracts, scouts flip information.

Scouts face even less risk than dealers, and have almost no cash or credit concerns. They simply gather information about distressed properties and sell it to interested dealers and retailers. In effect, scouts do the dirty work for real estate investors, and investors are willing to pay them handsomely for doing it. Typically a scout will gather the following data on a potential deal: The owner’s name and contact information, the asking price, information about the mortgage and whether payments are current, outstanding liens on the property, a photograph of the house, and pertinent information about the owner’s motivation to sell – i.e. is he in the middle of a divorce, foreclosure, job transfer, etc.

Investors typically pay scouts between $500 and $1,000 for good information, but what happens if an investor doesn’t pay? Simple – don’t take any more deals to them. Successful investors realize the value of good information, and they are more than willing to pay for it.

Take Over the Seller’s Mortgage Payments

Prior to 1989, almost all home loans were freely assumable. This meant that anyone could take over the payment of the loans without objection from the lender. However, due to a climate of rising interest rates that began in the late eighties, virtually all home loans issued since then contain a “due-on-sale” clause. This means that when ownership of a property is transferred, the lender can demand payment, in-full, of the outstanding loan.

However, “due-on-sale” is merely a clause – not a law. It is the lender’s prerogative as to whether or not this clause is exercised. If you buy a property and take over the loan payments, there is a distinct possibility that the lender won’t even notice. There’s an even greater chance that the lender will choose not to exercise the due-on-sale clause, so long as you make timely payments. After all, the cost of enforcing the clause is significant, and as long as the lender is being paid, it is unlikely to care who signs the monthly checks. Armed with this knowledge, you can potentially buy properties without a credit check.

Real Estate Success Always Requires an Investment

There are ways to profit from real estate without significant financial investment, however, that is not to say that success comes free and easy. At the very least, you will need to make a substantial investment in yourself. In order to succeed, you must be willing to work hard. Even with a million dollar real estate portfolio, your brain will always be your #1 asset. Be sure to invest in your education on a daily basis, and learn as much as possible about your local market, real estate law, and investment strategies.

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Buying owner financed homes, or homes seller financed is not new, however most people has no clues the various ways a seller financed deal is setup. More importantly, owner financed homes do not normally require application fees, mortgage insurance protections, or qualification using debt to income ratios.

This article is going to explore the potential cost savings of an owner financed home versus standard bank lending.

The first item you can save is an application fee. Application fees are different with different banks, and can oftentimes be hidden via other terms. This is most often a nonrefundable charge that is charged to the borrower for the benefit of reviewing your loan application. This fee can go from $100 to $500.

The second area the can be eliminated by buying a home with seller financing is my means of not paying points. Points are usually calculated as 1% of the loan, and the greater money you pay toward points, the lower your rate of interest. Alternatively, less points you pay, greater will your rate of interest be. Most owner carry transactions do not tell you how many points you need to pay.

The 3rd fee that does not need paid during a seller financed sale is a residential home appraisal. Fees for a home appraisal can fall in the window of $250 to $450, or even more if the property is nontypical (like a commercial or multi-unit). The main reason you would pay this fee in an owner financed transaction is if you want one for the peace of mind. Oftentimes, sellers are able to raise the sales price for being your lender. Thus, the appraisal, which is based on a “cash type” transaction may be lower than what you agree. However, nothing is ever set in stone and an appraisal is not the end of the world.

The final savings topic for this post is the payment of PMI. PMI is a type of insurance that the borrower is required to pay on “low down” loans. As the housing collapse continues, these costs are getting higher for potential home buyers, and must be included when calculating what your monthly house payment can afford.

In summary, owner carry is an awesome method to not only have a better than the banks interest rate, it can also substantially reduce the amount of money you need up-front to purchase the home.