How I purchase homes with the Art of Creative Financing

Question

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $99,000 Cash invested: $1

I purchased this property using no money; banks; loans; or any need for credit. Needed $50k in rehab...my tenant buyer put $10k down, $1500.00 per month (my payment is $495), and I sold it to them on terms for $185k.

What made you interested in investing in this type of deal?

I have done more than 50 deals this same way. I own or control over 200 properties.

How did you find this deal and how did you negotiate it?

Through strategic marketing

How did you finance this deal?

No need for financing. That's my specialty. You need no money; credit; banks; loans or begging!

How did you add value to the deal?

I didn't have to, my tenant buyer did the rehab themselves.

What was the outcome?

I have a monthly cash flow of $1005.00; I have a fully rehabbed property; I have almost $100k in equity. I had to do nothing.

Lessons learned? Challenges?

DON'T BORROW MONEY! No need.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No.

Jay Hinrichs · Answer

if the house needed 50k in rehab and they gave you 10k who paid to rehab it the tenant ?

what state ? sounds like you work hard mining these diamonds.

James Lyerla · Answer

I paid $99k for the property on a "subject to". The tenant/buyer paid and completed all of the rehab. This is how I structure and teach all of our deals. Over 200 properties to date we control or own using this method. This house is in Kentucky and required NO money upfront. No cash changed hands at the closing table. (The software made me put at least a dollar). Thanks for the reply!

How I purchase homes with the Art of Creative Financing

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