Tag Archives: deals
5 Ways to Start with No Money and No Credit?
One of the Myths of real estate is that you have to have money. This is flat out not true, you can absolutely do deals with no money and credit. There are a few precautions I want to mention, especially for beginners before explaining how to do deals with no money and no credit.
Having money and credit can certainly make it easier to do deals. It is crucial however to make sure the deal still meets your criteria. At no point in time should you bend your criteria and make the deal work by putting in your own money. For instance, if you are considering putting in 10% of your own money to make it meet your 70% LTV criteria, you should lower your offer or pass on the deal. The risk has to be warranted, in fact, all deals should be good enough where you do not have to use any of your own money. Using your own money should just sweatin the deal and improve the return without unneeded risks.
Here are some ways you can do deals with No Money and No Credit.
Use Private Money Cash is king and having private money backing can allow you to do deals without any of your own money
Partner If you have a strong business plan with solid exit strategies and a successful track record there is a ton of money out there to fund 100% of your deals. Make it a win-win for your partners and make it happen.
Find deals with incredible numbers If you are an expert at finding incredible deals, doing and exiting the deals then people will fight over funding your deals.
Wholesale, Bird Dog There is no risk, money or credit needed in getting a deal under contract or locating deals for investors.
Subject To, Seller Financing, Lease Options Taking title to a property subject to the sellers existing mortgage, getting the seller to carry financing or lease optioning a property are ways to do no money no credit deals.
Real Return Real Estate for years has bought property at extreme discounts, sells and rents with tremendous cash flow. We also provide FREE tips, articles, guides and Educational Webinars. Visit our site
The Key to Real Estate Success and 5 tips on how to implement in your business
During the boom, investors made profits with all sorts of strategies, even with little knowledge and many mistakes. Those investors may have experienced a rough couple years and may have given up. Here I will discuss the key to break thru and succeed whether a beginner or in a rut.
Are you learning and reading everything you can about real estate? Have you educated yourself on 20 different strategies and you now know how to do all sorts of creative real estate deals? That knowledge will certainly not hurt, but lets focus on one thing that will be the key to consistent long term success in good times and bad. Find Motivated Sellers!
Not just find motivated sellers, find a ton of them. Have them beating down your door begging you to buy there homes and get to the point where you dont need to do a deal with them even if it is a great deal. I see it all the time, beginners or those in a rut have only a few deals they are looking at and the take the best one when it isnt even a good deal. They need the deal to continue to eat, but this often ends in disaster.
Now, you are probably agreeing with me that success will be achieved by having tons of motivated sellers flooding your pipeline consistently whether you are there or not. But how do you do this? Here are some tips to have a consistent flow of motivated sellers coming to you.
1. Direct Mail While you can find deals door knocking and scouring listings, websites, and newspapers this could be very time consuming. Send out direct mail to motivated lists such as foreclosure, out of state owners, expired listings, divorce, probate, etc.
2. Learn Direct Response Marketing educate yourself on direct response marketing and have motivated sellers responding by contacting you.
3. Automate create a system and delegate your direct mail campaign so it happens whether you are there or not.
4. Filter create a system to weed out the duds and only evaluate the prospects that could meet your criteria.
5. Pass it ends up a numbers game, get enough deals and some will be worthy of doing. If you are not getting enough deals, pass and improve your direct mail and marketing strategy.
Real Return Real Estate for years has bought property at extreme discounts, sells and rents with tremendous cash flow. We also provide FREE tips, articles, guides and Educational Webinars. Visit our site