The Key to Real Estate is finding motivated sellers. We I look for Real Estate, I look for DON'T WANTER CONDITIONS. These are conditions that create motivated sellers...
D - Divorce
O - Obsolescence of property - needs major fix up
N - Negative cash flow
T - Transfer from job
W - Wrong management approach
A - Arrears in payments
N - Negative location
T - Taxes
E - Estate situations (death)
R - Retirement
C - Competition with neighboring properties
O - Out-of-area owners
N - Neurotic fears
D - Debts
I - Ignorance of investment principals and market conditions
T - Time constraints
I - Investment capital - needs capital for another investment
O - Ornery partner(s)
N - Need for status symbols
S - Sickness
These are the majority of the reasons for motivation and your goal is to find properties with sellers in these unfortunate situations. You now become a problem solver as you attempt to solve these personal problems. Keeping in mind you are trying to offer a solution that will require little to no money down.
There are several nothing down solutions. Here are 50 of them.
Technique No. I The Ultimate Paper Out
Technique No. 2 The Blanket Mortgage
Technique No. 3 Life Insurance Policy
Technique No. 4 Contract or Wrap-Around Mortgage
Technique No. 5 Raise the Price, Lower the Terms
Technique No. 6 The Balloon Down Payment
Technique No. 7 High Monthly Down Payments
Technique No. 8 Defer the Down Payment with No Mortgage Payment
Technique No. 9 The Buyer
Technique No. 10 Supply the Seller What He Needs
Technique No. 11 Assume Seller's Obligations
Technique No. 12 Using Talents, Not Money
Technique No. 13 Borrow Against Life Insurance Policy
Technique No. 14 Anything Goes
Technique No. 15 Creation of Paper
Technique No. 16 The Two-Way Exchange
Technique No. 17 The Three-Way Exchange
Technique No. 18 Lemonading
Technique No. 19 Borrowing the Realtor's Commission
Technique No. 20 Rents
Technique No. 21 Deposits
Technique No. 22 Splitting Off Furniture and Other Items
Technique No. 23 Splitting Off Part of the real estate property
Technique No. 24 Small Amounts of Money From Different Banks
Technique No. 25 Cash-By-Mail Companies
Technique No. 26 Credit Cards
Technique No. 27 Home Improvement Loans
Technique No. 28 Home Equity Loans
Technique No. 29 Refinance Boat, Car, Stereo, or Other Personal real estate property
Technique No. 30 VA Loans
Technique No. 31 FHA Loans
Technique No. 32 The Second Mortgage Crank
Technique No. 33 Variation of the Crank: Seller Refinance
Technique No. 34 Buy Low, Refinance High
Technique No. 35 Use Discounts from Holders of Real Estate Mortgages
Technique No. 36 Moving the Real Estate Mortgage
Technique No. 37 Creative Refinance of Underlying Mortgage
Technique No. 38 Pulling Cash Out of Buildings You Own But Don't Want To Sell
Technique No. 39 Making A Partner of the Holder of an Underlying Mortgage
Technique No. 40 Selling of Second Trust Notes
Technique No. 41 Borrow Partner's Financial Statement
Technique No. 42 Borrow Partner's Money for Down Payment
Technique No. 43 Borrow Partners Money for down Payment Until Your Money Comes
Technique No. 44 Your Cash Flow/My Equity Or Some Combination
Technique No. 45 You Put Up the Cash; I Put Up the Time and Expertise
Technique No. 46 The Rolling Option
Technique No. 47 Equity for Options
Technique No. 48 Sale Option Back
Technique No. 49 The Earnest Money Option
Technique No. 50 Lease With An Option To Purchase
You can visit my website to learn more in depth how each of these techniques work.
