Assigning contracts to yourself to acheive 100% financing

[Jared Vidales]

Hi All,

I was wondering if anyone had any experience with this. I have a goal to achieve 10 new buy/holds by FY17. However I dont have the cash outlay to put 20% down onto 10 rentals.... I wholesale, and often get properties for 50% market value. Has anyone assigned a contract to another LLC you own at a higher price, to essentially pull that 20% out of the property and own the property with zero money in the game? You would still have bought low enough where you would cash flow the property at 12% interest, until the property seasons and you can refi into a lower interest rate via portfolio lender.