A few years ago my 27 year old daughter closed on a deal and she made a total profit of $16,833
She didn’t have a penny in the deal and she did not go to the bank to get financing. No credit report was every asked for or presented.
Here’s how she did it . . . and HOW YOU CAN TOO:
She negotiated to buy a run down property from the owner for $97,000 with ZERO down and ZERO interest with $600 per month payments. It is worth about $175,000 fixed up and needed about $10,000 in repairs.
The advantage in ZERO interest is that every time you make a payment the principal balance is reduced by that amount so you can get the house paid off quickly.
My daughter actually made 3 offers to the seller and asked her to pick the one she liked best. The seller picked the highest price offer even though it had zero interest.
I tried to talk my daughter in to keeping the property as a rental or fixing it up and selling it to a retail buyer, but the only kind of real estate deals she has done are wholesale flips so she just wanted to do a quick flip.
To give her a taste of what cash flow is like, instead of wholesaling it for one payday, I did finally encourage her to sell the house with seller financing to a rehabber for $106,500. We put a balloon on the note so she’d get payday #2 in about 6 months.
She got $6500 at closing. Remember, she didn’t have a penny in the deal.
Plus she got 6 months of approximately $250 per month cash flow
When the buyer could not pay her off in 6 months she offered to extend the loan for 2 more months for an additional $1,000
When the buyer closed with their retail buyer, my daughter got another check for about $8700
So, how did she do it?
Well, there was a little help negotiating the deal from Mom.
If you don’t have a creative real estate savvy Mom to help with your deals, then the next best thing is to learn about creative real estate from the Creative Financing Solutions book AND Jack Miller’s Money Matters – Making Money Without Money
Creative Financing Solutions and the Money Matters Recorded Seminar are all about how to make money without money and that’s exactly what my daughter did…
And it’s exactly what YOU need to be doing in this challenging real estate market. There is no need to use your hard earned cash or to borrow money from private/hard money lenders.
Real estate opportunities are all around you. In the Money Matters Home Study Course, Jack will teach you how to find deals and how to negotiate terms that make the deal work and produce maximum cash and/or cash flow.
Money Matters Home Study Course includes everything you need to learn to buy and sell with creative financing. You’ll get 23 Videos, 24 audios, 152-page manual plus much more!
BONUS: You get the audio version of the manual too so you can listen to it when you are driving around looking for opportunities.
If my 27 year old daughter can do this…YOU CAN DO THIS!
Best of Success… and Freedom
P.S. Could my daughter’s deal be better? YOU BET!
She could have substituted the collateral.
She could have kept the property as a rental.
She could have negotiated a discount on the seller’s note before payoff.
But, if we made the deal too complicated, my daughter would not feel like she can go out there and do these deals all by herself.
So sometimes it’s better to give up a little profit to help a young person gain a LOT OF CONFIDENCE.
All good lessons!
P.P.S. I know you will ask..
She found this opportunity by just driving around looking for houses that appeared to be run down and vacant.
The seller inherited the house. She lived in Georgia. The house was in Texas. She had no interest in even coming to see the house. It NEVER DID SHOW UP ON PROBATE RECORDS! The closing was handled with a copy of the will and a few heirship affidavits. If you only work probate, you’ll miss great opportunities like these.