Does the "No cash No credit" financing really work??
Today I see a lot of montelongo, legrand, dc fawcet...They all preach no cash no credit. Let other people do this and that..creative financing. Is this all mumbo jumbo or can it be done? Have any of you done a creative financing deal where you didnt use your own cash or credit? Id love to hear.
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Of course it is possible - that is how I got started in this biz - no cash and no credit. I found partners with cash and other partners with credit - I did all the work and split the profit 50/50 until I had enough to work on my own.
A lot of those guys also talk about a sub2 deal - where you find a distressed homeowner who needs to sell and you lock up their home on a sub2 deal and then you do a lease option with a buyer or sell to an investor and you make some cash in the middle.
You can search sub2 in this site for lots more info.
But yes - it can be done - but as others have said not the easiest way but a way lots of us started out.