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Black Market Real Estate: Squatting your way to the American Dream

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Sub Urban Mom

Sub Urban Mom

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Why should you let the Bank and failed government foreclosure efforts make your family homeless? Some people have decided not to become homeless, and have kicked in the door to reclaim their American Dream...if only for a moment! Foreclosed homes have been sitting on the market for 3 years going stale, falling into disrepair, and the banks have given up trying to maintain all the thousands of homes now in their possession. So squatters have moved in all over, and happen to be a blessing for the property, and a curse to the real estate property preservation managers. Do you leave em be or get em kicked out? Don't be so quick to judge...even if you pay RENT, you may be a squatter and don't even know it! With Chicago's new ordinance that all bank owned foreclosed properties have to be boarded up or have a security guard between 4pm-8am everyday of the week, real estate managers are leaving a tenant on premises. It's a choice between making a $400,000 property look like two dollars to prospective bidders, having scavengers raid the property for building materials, or renting it out cheap and keeping it luxury for short term renters. This has led to a blackmarket of real estate with squatters, renting from people who don't actually own the property...but can get you in if you stay quiet until it's sold, and crazy discounts for short term rentals from REO property asset managers. Plus how to get the best deal from subletting and renting from distressed condo owners. RENT TO OWN OPTION: QUIT CLAIM DEEDS, "You can buy it if I own it, I think I own it. Buy it if you think I own it!" DISCLAIMER: This ain't no legal advice, and breaking the law is illegal!

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