Posted by Dirk Roach on May 09, 2000 at 22:48:44:
Lonnie deals if bought right, can be bought with no money.
Lonnie’s contract in his book is golden. You can litterly tie up a home for a certain amount of time, and find the buyer and use their down payment, as your purchase price… I have done this a several times, not because I don’t have the cash reserves to go into it traditionally, it’s just more fun (I feel) when you get creative.
Thing is you had better be able to get a buyer with a big enough down payment to cover your purchase price. Which is why it is a good reason to have lots of buyers lined up and in the hopper.
Also Lonnie’s books are gold because they give you several ways in which to get into working with investors.
I love investors because I can give someone a super yield, and make myself an infinite yield at the same time.
Anyhow, Lonnie is right keep your chin up, and get out there and get to work. There is money to be made.