Today, I am going to show you how to solve people’s problems and make good money doing it… not to mention the fact that they will love you for helping them. I’m not kidding about this… they will love you for this and thank you with tears in their eyes. I’ve seen it over and over again.
First let’s look at one deal and go from there.
A seller has a property that is worth about $120,000 and has a mortgage on it of $100,000.
You go through the numbers with the seller over the phone and explain how it is going to cost them easily $10,000 to sell their house, if they get lucky, because of Realtor fees, repairs, closing costs, and on and on.
Instead of using a real estate agent, you tell them you will take over their monthly payments. They no longer have to worry about that headache any longer. You will write up the deal using one of three methods… 1.) “Subject To” the existing loan, 2.) Land Contract or Contract For Deed and 3.) Lease With Option To Buy.
NOTE: none of these techniques are rocket science… you just need to be accurate when you write them up so you don’t shoot yourself in the foot and lose money or get sued. Once again… it’s all about having the specific knowledge and the right contracts to use.
So now you have a property tied up under a purchase agreement and you are going to start paying $950 a month on it within 60-90 days. The property is worth about $120,000 and you owe $100,000.
By the way, if you buy a property that is worth $120,000 and you only owe $100,000, how much money did you just make?
That’s right, you just made $20,000!
Just for signing a piece of paper! Of course you still have to get that money out of the deal, but that is what I’m going to show you how to do next.
Also, before you get worried about the monthly payments, you need to understand that you are NOT going to be the one making those payments. I am going to show you how to easily find someone who will start making that $950 per month payment for you.
And, if for some odd reason you are not able to find that person, you just don’t close the deal. You ONLY close deals that make you MONEY AT CLOSING. The only way you can do this is if you use my magic “weasel” clauses.
In this scenario you can rent the property for more than $950 a month, it would go for at least $1,200 rent, but you don’t want to rent it out… you don’t want to be a landlord, right? You want to sell it and make money right away.
Help People With Problem Credit Buy Your Home And Make A Fortune
Over 1 million people file bankruptcy each year. Bankruptcy heavily affects your credit for two solid years and it is extremely difficult to get a loan after filing a bankruptcy. But even bankrupt people need a place to live.
Unfortunately, they cannot qualify for a loan so they are either going to have to rent, or work out some other type of buying arrangements with a seller.
You can work with any of these folks. People who filed bankruptcy are not the only people you are going to be helping, there are millions of other Americans who are having financial and credit problems. These people can’t qualify for loans either, but they are tired of throwing away money each month on rent.
Do you see how huge the market is with people who want to buy homes, but cannot qualify for a mortgage?
How can you profit from this?
How can you benefit these people?
You need to give them what they want. You will make the most money in any market, any industry, anywhere, by providing what is in high demand.
If people want to be able to buy homes and not throw away their money on rent, but they cannot do that through traditional mortgage lenders… then you give them a way they can do that without using conventional loans.
So… now you know why sellers are begging to work with you, and why you can put those deals together… now you see how and why the demand for these homes is so outrageous… you can easily find someone to buy your homes if you offer it to them without conventional financing.