Posted by JohnBoy on March 02, 2000 at 17:03:39:
You don’t need any money to put down or any credit if you deal with MOTIVATED sellers.
In fact, you can even do better than no money down and no credit if your dealing with the right “MOTIVATED” seller!
You can actually get in with a couple of months free rent in a lot of cases.
Seller is motivated. They NEED out! You walk in and agree to solve their problem by agreeing to relieve them from their payments in 60 days from the date of signing your contract. Now you have 60 days before any payments are due to market the property or just move in and live there for 60 days free!
In some cases the seller may NEED some cash down. Then you just simply agree to give them the cash within 60 days while you find a suitable tenant/buyer. Once you find a suitable tenant/buyer, you use their cash that you get from them as their down payment to you. You pay the sellers what they needed and you pocket the rest! No money down, no credit, AND cash in YOUR pocket!
Can this be done? Does this really work? YES! Been there, done that!
If you click on the “How to Articles” and the “Success Stories” link on this site you can read about some of the deals that are done this way.
The key is not to look for houses, but rather look for MOTIVATED SELLERS! That’s where you will find the deals to get without credit or money down from your pocket.