The Cycle
How to Find Investment Properties
Part of that cycle of steps to successful real estate investing is learning how to find investment properties.
Where to Find MoneyIn "The Cycle" the ways to find money for real estate investing range from the very worst ways to the very best ways.
Find Money Now
When you have to find money now, there are definitely some ways to pay cash and close fast.
How to Get Free Money
If you want to learn how to get free money, you have to develop your skills by jumping in a learning to swim.
What Questions Should be AskedThe most valuable thing you have in this business in time and you don't want to waste it, so you have to know what questions should be asked.
The Cycle Exchange
You will, with "The Cycle", exchange inefficient real estate investing methods with proven methods that work.
How to Get Free Money
"The Cycle" to Successful Real Estate Investing
How to Get Free Money with Owner Financing
Owner financing is the best way of finding “free” money, mainly because you can close it instantly. It’s also great because…
Of all the other ways of finding money, none has all those benefits. The others have some benefits, but owner financing is the best because it has all these benefits. You can do the deal very quickly.
New Owner Financing Law
As an investor that new owner financing law doesn’t affect this. They can sell you the property owner financing. The law clearly says that if it’s their homestead and they are selling it to an investor, it’s okay to do owner financing.
How to Get Free Money with “Subject To”
If the seller has a mortgage in place, you buy the property “subject to” the existing mortgage. The benefits of subject to:
However, because there is a bank involved and there can be stress, because “subject to” creates some things that you have to have like the insurance, the escrow, the taxes and you need to proceed very carefully.
How to Get Free Money Using Notes
Combine “subject to” with a promissory note, then that will help take care of the seller. Instead of giving them cash, you give them a promissory note promising to pay them so much over a certain period of time. A promissory note is like creating money out of air. It’s an I.O.U.
You need to learn to create promissory notes, and it’s very simple. You go to the title company and ask them to create a note. It’s just as easy as that. Of course, you will need some basic information to do the note:
- Interest rate
- Length of payback
- Amount of the payment
Hint: The payment on a note does not have to be an amortized payment. The payment on the note can be based on the cash flow. That basically means that you pay an amount that allows you to get some cash flow from renting the property, until you can sell or refinance it.
Combination
Combinations of these really work well:
Note: “subject to” and a partner is the way to handle a deal that allows you to acquire the house with a note and “subject to”, but that leaves you with a house that requires renovation in order to sell it. Rather than trying to come up with the money yourself to fix the house, you find someone to fix the house and then partner with him.
"The Cycle" reveals the way to approach and close such a partnership deal. This is a skill that will save you a great deal of money over other types of partnership agreements.
"The Cycle" by Dennis J. Henson guides you through the step-by-step process, from the first thing to do to the very last thing to do. In these 12 steps you will learn:
- find prospects
- make contact
- find money/buyers
- screen
- appointment
- do offers
- make offers
- and five other steps to real estate investing success
If you want to succeed at real estate investing, this is a learning tool you cannot afford to pass up.
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