Wholesale Flipping Homes
In the No Money No Problem portion of Wholesale Flipping Homes, Dennis J. Henson shows you how you can have no money, no credit and no experience, and still make money. This portion of the teaching is really the foundation for becoming a successful real estate investor.
First of all, this is a technique that gives you solid foundation of understanding of the principles of real estate investing. Dennis teaches the three things that it takes to make this process work by comparing them to “fuel”, “oxygen” and “ignition”, which he identifies as the “Fire Triangle”.
No Money No Problem Good Deals
The MLS is full of deals, but it only has a few “good” deals. You have to have good deals that are so good it is worth the time and effort you put into the deal.
Overcoming the Problem of No Money
If you don’t have money, or a way to get to some money, it doesn’t matter how good the deal is. You have to have the money to do the deal. What is the easiest way to get money for a deal? Normally, you would use seller financing or private money.
However, with this technique, you don’t use seller financing and you don’t use your money. You don’t use private money. Dennis teaches you how to use money from another source to tie the property up so you have control of it to sell it. With this No Money No Problem method, you don’t need money and you don’t need credit.
Buyers Financing
Buyers are a great way to get money, because there’s no credit check, no loan apps, no banks, no waiting, no stress, and you’re not using any of your own money.
But what about closing costs? Normally there are closing costs to pay…but NOT in this technique, because you never own the property. You never buy it. You never sell it. Therefore, you don’t have any costs. You just get a check!
To Be Successful, You Need to Rub Shoulders with Other Real Estate Investors
Running Ads for Money
When you run ads for money, you cannot mention money. That’s a good way to get in trouble with the government. Hower, you can run an ad that will bring in all the investors you could ever want, and that ad will not get you in trouble. Dennis gives you a word-for-word ad that he has successfully used to locate money investors.
Where to Run the Ad?
When you run the ad, don’t just place it on Craigslist. One, you will probably find other similar ads on there, because advertising on Craigslist is free. However, you will probably not get many, if any, calls from your Craigslist ad. On the other hand, if you will spend a bit of money and run the ad in a large newspaper, you will numerous responses. Yes, it’s more expensive to run it in the paper, but few real estate investors are running ads this way, so you don’t have a lot of competition.
No Money No Problem Investor Script
Not only that, but he also gives you the script of what to say when the investors call in response to your ad! By using this script, you will be able to find out which investors have money, and how much they are able to access at a moments notice. You also find out if they are really interested in investing in future deals.
Build a No Money No Problem Team
The next step in becoming successful is to have a number of people working for you that someone else is paying. Start a team of buyers, a mentor, and a real estate attorney. Dennis really emphasizes the importance of having a real estate attorney that you can go to with real estate questions. He also tells you the best way to get a real estate attorney for free!
The Difference
The main difference between the No Money No Problem teaching by Dennis J. Henson, and what others attempt to teach is that Dennis actually teaches you step by step, and word for word what to do and say. He doesn’t just tell you that these techniques can be done, but he tells you how to do it.
