How to Buy Real Estate with No Money and No Credit

This video series will be titled ‘Stories From The Trenches.’ The title was inspired after watching ‘Band Of Brothers’ which is a story about the guys in World War II from the 101st Airborne that went from Normandy all the way into Germany and helped win the war.

One of the things that I’ve noticed from watching those guys is that when they’re under a lot of pressure together, they create bonds that they’ll keep the rest of their lives. They work together as a team; they work together as a group.

Bonds have been created between  people in my mentor group (although they’re certainly not under the same kind of stress that these guys were under) when they start something new, something that’s a little bit outside their comfort zone, a little bit outside the normal life that they’re used to living, taking risks on new ideas, or taking chances on new techniques that I’m teaching them. It’s one of the things I’ve seen happen in my mentor group.

The outcome of this is a group of people, men and women, that are working together, that know each other, trust each other, do deals together and can help each other along in this process. We’ve got people who are more advanced helping people that are new, and people who are new that are going to the people who are more advanced, knowing that they can trust and work with them.

Having what Napoleon Hill called a ‘Mastermind Group’ is a great thing to have when getting started in a business like this. It’s really great being able to bring all of these people together and think about the processes that you’re trying to improve all the time.

The aim of this series of videos is to answer questions about my mentor program, about the two day buying events that I do where we get everybody together in a room and we buy real estate together.

I want to answer questions about the techniques that we’re using and the ways that we’re buying real estate so that you’ll have a good understanding of the process and the system that we’re putting together to make this all happen.

So I’m just going to get right into it and answer the first question today, which I think is probably the most appropriate question to get this series started:

“Can you really buy properties with no money down and no credit? I’ve seen the late night TV guys but that seems like a scam to me.”

I could certainly understand why it would seem like a scam to you. There’s a lot of hype behind this stuff and there’s a lot of people telling you that you can get rich quick. But that’s not what we’re doing here. First of all, what we’re doing is a business building program and we’re going to talk more about that in some of the later videos.

Now, to the question ‘Can you do zero down deals with no credit?’ The answer is Yes, you absolutely can. And it’s all about how you structure it. As a matter of fact, we very rarely use money down and very rarely do we use credit and when we’re doing it as a business building technique, we never use those things. We almost never need to have credit or down payments at all.

It’s a whole different thing if you’re looking for long term wealth and long term investments. And you’re going to do that with your business, too, but with most people that are starting this process, they want to create a business that creates immediate cash flow that has money coming into their pockets right now. And that’s the stuff that we teach and you can do that with zero down.

My philosophy is, ‘If you can’t do it with no money, you sure aren’t going to be able to do it with money.’ So learn how to do it without money first by using the techniques we teach. Yes, I teach subject-to, I teach multiple mortgages, I teach land contracts, I teach lease options, I teach other types of seller financing and I show you how to structure the deal so that it makes the most sense to the seller.

A lot of people say to me, ‘Well, nobody’s going to accept a deal that’s a subject-to deal.’ That’s just not true.  What you’ve got to do is find the people that are willing to do that. And these don’t have to be terribly motivated people.

You have to find that person with that situation that needs to sell their property (which is almost everybody in the MLS). Now, we can make offers to everybody we talk to. It’s not going to make sense to everybody we talk to, but we can still make an offer to them.

So anyway, it does work. We can do zero down. There are lots of techniques. And you will be familiar with some of the specific ways we do it if you’ve been getting my other articles or seen my other videos. So yes, you can do it – we are doing it, and I suggest that you don’t do it any other way.

The risk is too high. Putting your money or credit on the line when you’re getting started is not advisable. You are either going to lose money or spend a lot of time on it and then not make very much money.

Why not spend the time, if you’re going to make mistakes, on things that *aren’t* going to cost you money and things that *aren’t* going to screw up your credit?

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