| If you have ever watched TV after about
| |
| | another bank for PLC and tell them that
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| 11:30 at night, you've seen people
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| | you're going to make an invstment with
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| talking about courses on buying real
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| | money--and don't tell ANY bank that
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| estate with no money down. They show
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| | you're doing a no money down deal!
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| vacation paradises, gorgeous girls, fancy
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| | 4) Payment over time-seller wants $5,000
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| cars, and huge mansions. All of this is
| |
| | down, for example. How about $400 per
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| promised to you if you buy their course
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| | month for a year? You're still paying it,
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| on making a million with nothing! If you
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| | but over time-maybe the property will
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| want you can spend "only three payments
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| | generate enough extra money to pay this!
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| of $99.99" to find out about this
| |
| | 5) Back taxes-I've done deals where I've
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| exciting area...OR...I'll just tell you
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| | taken over back taxes due--you can pay
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| for FREE!One thing I must mention first,
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| | them off at your own speed, within
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| however, is that ANY information,
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| | reason!
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| combined with NO action, produces NO
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| | 6) Free rent-I've done deals where the
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| result. If I came over to your house and
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| | seller had office space in the building
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| showed you everything in person and
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| | and took 2 years free rent as down
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| answered all of your questions, and then
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| | payment! Can also work for multi family.
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| you did NOTHING.....it was a waste of
| |
| | 7) Upon closing there are adjustments
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| time. Yours and mine!! On the other hand,
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| | for that months rent--close on the 2nd or
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| if you combine information with hard
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| | 3rd to maximize this-and for damage
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| work, persistence and, most of all, GUTS,
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| | deposits, taxes to be paid for the period
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| you will be successful, whether you buy
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| | owned by seller, utility bills to be
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| the courses, read the books for free at
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| | paid, etc. These can add up to a large
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| the library, or get the information from
| |
| | amount!
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| me, right here!I mentioned GUTS because
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| | 8) Since the bank starts mortgage
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| there's a price to be paid for
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| | payments one month from closing, simply
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| everything. If you had a million dollars,
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| | by paying an interest adjustment of 2
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| you could buy an apartment building
| |
| | weeks allows you to use the first months
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| without hardly any difficulty. Just pick
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| | rent and apply the second months rent to
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| out one that you liked, had a good
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| | the mortgage payment.
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| return, and passed a building
| |
| | 9) Borrow on insurance policy, stocks,
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| inspection.If you DON'T have a million
| |
| | bonds, mutual funds, etc. If you allow
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| dollars, what are you to do? Well get
| |
| | the bank to secure the collateral they
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| ready for some hard work, searching for
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| | will be very accommodating.
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| the right deal. Get ready to have a whole
| |
| | 10) Rack up your Visa, Mastercard and
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| slew of offers rejected, and maybe even
| |
| | American Expres cards. A bit crazy, but I
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| laughed at. Get ready to hear some
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| | assume its a great investment!
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| pompous real estate agent tell you (as
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| | 11) Borrow from friends, relatives, boss
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| one told me) "Son, I've been in the real
| |
| | (holiday pay?) Maybe even cut them in as
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| estate business for thirty years now, and
| |
| | partners!
|
| let me tell you, there's no such thing as
| |
| | 12) Partners are a surefire way to get
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| a no money down deal." Get ready to work
| |
| | accepted for big bank loans, create
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| on a deal and spend time on it only to
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| | enough down payments, etc. Always look
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| have it collapse.You're going to put in
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| | for people who are interested in this
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| your down payment in the form of "brain
| |
| | area, and ask them what prevents them
|
| sweat equity". You're going to pay by
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| | from buying investment properties. If its
|
| acquiring more knowledge than others in
| |
| | time, expertise, etc--then you have a
|
| the area of creative real estate, and by
| |
| | fit! All that's preventing you is
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| searching long and hard to find MOTIVATED
| |
| | money--and you have found this great
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| sellers, ones who want to get rid of
| |
| | property haven't you?
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| their properties desperately and
| |
| | 13) Syndicate a group of people--say 9
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| therefore are willing to help you out.
| |
| | investors and you get the last tenth for
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| Most of all, you're going to pay by
| |
| | putting together the project--they will
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| enduring the inevitable "start-up
| |
| | provide the financial strength for the
|
| glitches" that ANY business or enterprise
| |
| | loan, and maybe even the down payments!
|
| has. If it was easy to do, then everybody
| |
| | Anything is possible, remember? This is a
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| would be doing it, and there would be no
| |
| | lot of work to find these people, but
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| properties left! It is this
| |
| | VERY lucrative! Start with dentists and
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| difficulty that makes it EASY, once you
| |
| | doctors, lawyers, everyone that you deal
|
| know what you are doing!!OK, so here we
| |
| | with!
|
| go, but first you need to know ONE thing:
| |
| | 14) Rent to buy--maybe you make payments
|
| IN REAL ESTATE EVERYTHING IS NEGOTIABLE!!
| |
| | for 3 years and then have built up the
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| Let me say that again, because it is the
| |
| | downpayment--meanwhile the property can
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| linchpin of the way creative real estate
| |
| | go up in value, rents rise, and so on.
|
| works--in real estate EVERYTHING is
| |
| | 15) Option to buy--Seller keeps title
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| negotiable!What does that mean? Are there
| |
| | and gets all revenue. You simply pay a
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| any boundaries? NO!! Can you get someone
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| | sum for the right (make it REALLY legal!)
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| to carry an agreement for sale for 25
| |
| | to purchase the property at a certain sum
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| years with little or no money down and no
| |
| | in X years. There could be a trade for
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| credit check? YES!! Are there ten ads in
| |
| | this option, example trade an item or
|
| the paper offering just such an
| |
| | service for the option.
|
| agreement, or one? Probably none! What
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| | 16) Lets make trading an item or service
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| does that mean? EVERYTHING is negotiable!
| |
| | for down payment its own idea!
|
| If you find a motivated seller, one who
| |
| | 17) Foreclosure property--maybe just
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| is paying every month to own that
| |
| | before it goes into foreclosure you offer
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| property, one who doesn't have the skills
| |
| | to keep up the payments and give seller
|
| to fix it up, one who moved out of town,
| |
| | SOMETHING, SOMETIME for his equity. (In a
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| or the country, then he MIGHT go for it!
| |
| | short while he's not getting anything!)
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| Notice that I did not say WILL go for it,
| |
| | Lots of work, lots of books and
|
| but MIGHT!Think of yourself when you had
| |
| | announcement services available.
|
| a car that you wanted to get rid of,
| |
| | 18) Fix up damaged property--work deal
|
| because it was a piece of junk. If
| |
| | with bank--example: as is it's worth
|
| someone approached you and asked "how
| |
| | $75,000, with clean up and fix up its
|
| much?", you'd say "$1000, firm". But you
| |
| | worth 100,000--bank offers 75,000
|
| knew deep inside that you just wanted to
| |
| | mortgage based on future value--you have
|
| get rid of the headache!! And if you ever
| |
| | to do fix up--similar to sweat equity.
|
| had to wait for a month or two with no
| |
| | 19) Lease property (ie an office
|
| one buying your car, suddenly you were
| |
| | building) from owner and sub lease it to
|
| not quite so firm on the price! And if
| |
| | tennants--must be very legal and usually
|
| the alternator had to be replaced before
| |
| | needs strong rent up effort!
|
| the car could run, pretty soon you just
| |
| | 20) Pay someone to cosign for a loan
|
| wanted it OUT of your hands!! NOW, you're
| |
| | 21) Get realtor to carry his commission
|
| ready to accept monthly payments, maybe
| |
| | as a note--they HATE this, but if its
|
| hold something as security, etc. You just
| |
| | needed..
|
| want it GONE!It is the same with real
| |
| | 22) Balloon payment--nothing down,
|
| estate properties! They go from being our
| |
| | balance due in three years
|
| pride and joy to an albatross around our
| |
| | 23)Private money from mortgage
|
| necks--then we're ready to do WHATEVER it
| |
| | brokers--ask them about it! High rate of
|
| takes to get rid of it!These people
| |
| | interest, but..
|
| aren't going to jump up and down and say
| |
| | 24) Refinance property either before you
|
| "I'm willing to take a no money down deal
| |
| | assume it, or after
|
| for my property"! They are going to be
| |
| | 25) Find a partner where he takes
|
| depressed, just like the fellow with a
| |
| | writeoff for negative cash flow and you
|
| clunker in his back yard, sitting there
| |
| | manage property--this can even work with
|
| for months. They are going to need some
| |
| | buying your personal residence--investor
|
| convincing, but if you find the "DON'T
| |
| | is happy with $200 per month negative
|
| WANTER", the most difficult part is done!
| |
| | cash flow in return for your taking care
|
| Then you make offers, look closely at
| |
| | of property, always a tennant (you) and
|
| each property to see if you can make a go
| |
| | investor splits profit when
|
| of it (that's a whole other report!) if
| |
| | selling.That's going to be enough to
|
| you can get the property--sometimes you
| |
| | start some gears running in your head.
|
| don't want it either! Then it is just a
| |
| | The most important part is to keep
|
| matter of making offers, either in
| |
| | trying, and to be creative. Combining
|
| person, or through a realtor, until you
| |
| | parts of one idea and another, and always
|
| find someone who is
| |
| | probing for what the seller wants will
|
| ready to deal. The first time is the
| |
| | lead you to solutions. Always probe for
|
| hardest, because no matter how many times
| |
| | ways to make both of you happy. Everyone
|
| I tell you (or the TV guys) that it CAN
| |
| | wants all cash, right now--not everyone
|
| be done, you are going to think "not for
| |
| | gets it! Think of the junker car in the
|
| me, not here in __________, not any more,
| |
| | back yard and look for ways to HELP the
|
| not with my areas laws and zoning
| |
| | other person--they want to sell!Most of
|
| regulations, not with my personality, not
| |
| | all, keep looking! It is not a failure on
|
| with my brains, etc."Don't you believe
| |
| | your part if someone is clinging to the
|
| it! Look at all the people in the TV
| |
| | hope that they'll get a certain price, or
|
| commercials-all types and shapes-they
| |
| | certain terms. If they can-great!! If
|
| have ONE thing in common--they went out
| |
| | not, check back in a few months. Many
|
| and DID IT!
| |
| | properties are still sitting there and
|
| ALL IT TAKES IS GUTS AND
| |
| | with a MUCH more receptive seller after
|
| PERSEVERANCE!!Here's the "stream of
| |
| | they have the property "sitting in their
|
| consciousness" of ideas on how to buy
| |
| | backyard, rusting" (or racking up
|
| with $000.00 down, but keep in mind the
| |
| | negative cash flow and maintenance and
|
| whole time that IN REAL ESTATE EVERYTHING
| |
| | property management headaches). Try and
|
| IS NEGOTIABLE!1) The simplest way to buy
| |
| | try again!Check online for new info and
|
| with no money down is to get the seller
| |
| | more opportunities, network with other
|
| to carry an agreement for sale. Monthly
| |
| | investors, ads can be used to signal what
|
| payments for 25 years are possible if the
| |
| | you are looking to find, partners wanted,
|
| seller has no need for the money, and can
| |
| | etc. Go to your public library for more
|
| be convinced to get his 6,7,8% return
| |
| | real estate and business information.
|
| secured by his house instead of buying a
| |
| | Keep
|
| 4% bond.
| |
| | your mind working and searching--keep
|
| 2) If you have good credit and want to
| |
| | looking for properties and more
|
| put no money into a property, try a first
| |
| | information--one idea can be worth a
|
| mortgage, Vendor carries a big second for
| |
| | fortune to you --go to seminars when they
|
| remainder. Seller gets , say 75%, and
| |
| | come to your town--and the total adds up
|
| carries 25%.
| |
| | to the "Eureka!" screamed in the middle
|
| 3) Again with good credit, try first,
| |
| | of the night.Buying with a low down
|
| smaller 2nd, and a Personal Line of
| |
| | payment is obviously much easier than
|
| Credit for remainder--especially if the
| |
| | buying with absolutely nothing down, so
|
| gap is only $10-15,000. This can even
| |
| | be sure to save up your money to make it
|
| work for low priced properties where the
| |
| | easier for you. Even a no money down deal
|
| first mortgage is combined with a PLC for
| |
| | can require cash for legal fees, closing
|
| the remainder--be smart enough to go to
| |
| | costs, etc.Best of luck!
|
