Louis Brown knows what it’s like to not have much money. Growing up in an old apartment with a card table for a dining room table paid for with green stamps, he understands how owning a home can seem as far-fetched as winning the mega-millions.
Now a millionaire real estate investor he’s taking it upon himself to try and get as many people into their own homes as he can thanks to billions of dollars the federal government is making available to first-time home buyers. But time is running out. President Barack Obama’s tax credit of up to $8,000 for new home owners is set to expire November 30.
Brown is making it even easier for buyers to get into homes with his “Obama Bucks” campaign. Using the equity in the home, he’s giving buyers the tax credit up front so they can use the money on a down payment or fix up the home.
“The government tax credit is a great idea, but most buyers still can’t get into homes because they don’t have the down payment needed,” Brown says. “Banks have tightened their credit standards so much that unless buyers have cash to put down many of them are not getting approved.
“We’re fixing that by giving buyers our “Obama Bucks,” which is the money they would get from the tax credit that they can use to help them qualify for the loan.”
As a result, more buyers can qualify for loans and they don’t have to wait until months afterwards to get their money.
In just 4 months, Brown says he’s helped 50 first-time homeowners get into homes with his “Obama Bucks” and he’s now racing to beat the Nov. 30 expiration date.
To help more homeowners, Brown is teaching other investors how to provide upfront money to first-time home buyers at a free webinar, Wednesday, September 21 at 8 pm. For more details go to www.HouseMonsterWebinar.com.
