Buying Property With Zero in Your Pocket

No Money Down Real Estate
Now learn the 6 ways to buy no money down real estate to achieve financial success.
By: Dennis Henson
house3Is it possible to buy no money down real estate? Of course–there are many ways to totally finance the purchase of real estate. It just takes some imagination and some O.P.K. (Other Peoples Knowledge). Here are six ways to buy property using very little or none of your own money…
#1 Owner Financing

A fast and easy way to acquire financing is by persuading the seller to finance the purchase. Look at all these benefits of seller financing:
No Credit Check
No Loan Apps
No Banks
No Waiting
No Closing Costs
No Stress
Better Interest Rate
None of Your Own Money
The only problem with this tactic is that it is sometimes harder to achieve than some of the more conventional methods. But it can be done if you find a truly motivated seller.

#2 Partners

Another great way to purchase with none of your own money is by using partners. This too has many benefits.
No Credit Check
No Loan Apps
Less Waiting
None of Your Money
Better Rates
Easier to Find
But this tactic has a few more drawbacks—such as:
Some Paperwork
Banks Maybe
Some Closing Costs
Stress
Better Rates
Less Profit for Yourself
How would a partnership work? You have to make a plan that will be good for you and attractive to someone with money. One way could be you do all the work and your partner provides all the money. Now you only have to decide how you will divide any profits the property produces.
handshakeWho might be prospective partners?
Anyone with money
Professionals–Doctor Dentist Accountant
Friends
Neighbors
Co-workers
Church
Club Members
What would attract a partner?
Good deals
Tax breaks
Profits
Prestige
Just be sure to get everything in writing before you start the deal. And please consult a good real estate attorney to help you organize the partnership structure and the partnership agreement.

#3 Investors

Using investors is also a great way to finance your real estate deals. You just pay them for the use of their money and you get to keep more of the profit than with a partner.
What will attract investors to your deals?
Security
A good return on their investment
Liquidity
What are some ways to find investors?
Run ads in papers and tabloids
Put on your business card
Put out brochures in professional offices
Put out brochures in public places
Go to investment club meetings
Talk to everyone you meet about investing
Search the web
Have a web site
Again be sure to get everything in writing before you take any money from an investor and be sure to consult a real estate attorney to help you with the paperwork.

#4 Subject to

“Subject to” means that you purchase a property–leave the existing financing in place. The purchase contract would specify that you are buying the property “Subject to” the existing first and or second mortgage.
Is this legal? My attorney says “yes” but check with your attorney. Is it wise? That depends on how you write the terms of your agreement with the seller. You need to be sure that you will be able to pay that mortgage payment on time every time. As long as you pay on time everything should go smoothly. But you risk losing your equity should you fail to make the mortgage payments.
Here are a few of the benefits of the “Subject To” tactic.
No Credit Check
No Loan Apps
No Waiting
No Closing Costs
Does Not Show up on Your Credit
None of Your Own Money
But
A Bank is involved
There can be stress
Proceed very carefully

#5 Credit Cards

Another way to avoid using your own money for buying property is by using Credit Cards. You never know when a great deal will pop up and take my word great deals must be grabbed quickly or they will disappear. A quick way to take advantage of these deals is by having a large available balance on a number of credit cards.
Here is what to do…
Apply for and get cards
Always pay on time
Keep balances under 30%
Use all your cards
Call every quarter and ask for increase
Also ask for interest rate decrease
Apply for more cards
Apply for more cards
There is no limit to the amount of money available as long as you pay on time and keep using the cards and requesting more.
Have your Credit Cards ready for emergencies and you can land some great deals.
cash#6 Notes

A “Note” is an agreement to pay back a loan. Most promissory notes specify:
The amount to be paid back
An interest rate
The interval of and amount of each payment
And by what date loan is to be totally paid off
A note may be used to pay a seller a down payment. Notes may also be used in combinations with most all other tactics. Some examples of combinations are:
Note and owner financing
Note and option
Bank loan and note
“Subject to” and note
Use your imagination
Using notes is a great way to buy property without using your money.
If you want to learn more about this subject please read my report “A Dozen Ways to Buy Property with Little or None of Your Own Money”.I hope this article will help you in your quest to build wealth through real estate investing. For more articles on real estate investor training, visit my website at www.dennisjhenson.com. Also on that site, you may sign up for free reports, articles, and e-books and find free forms, documents, MP3 downloads and much more.

Thank you,
Dennis J. Henson

You have Successfully Subscribed!