All Forum Posts by: Jose Diaz

That is amazing information!  I am guessing you wouldn't suggest to the seller they contact their lender regarding transaction. 

Pm sent

Absolutely, again it's like buying with nothing down AKA OPM other peoples money. Example....

Think of buying with no money down as 100% financing. In other words you're going to borrow all or most of the money needed to purchase the property.

Here's what I mean. You find a suitable property for let's say $100,000 the seller owes the bank $75,000 how to we purchase the property? You offer to take the property "subject to" the existing bank loan, and ask the seller to loan you some of his $25,000 equity by holding a note for $12,500 called a wrap or an AITD all inclusive trust deed.

Then you borrow another $12,500 using your credit card or from a third party who you would give a note secured by a second mortgage on the property as security for the down payment money.

Congratulations you just purchased a property for 100% financing or no money down.
I should mention here that most of you will have different reasons for needing the information found in these postings. Maybe you have good credit but no money. Or you have the money for a down payment but no credit.

The example used above is just one of the many ways the purchase could have been accomplished. However, by using other no money down or creative financing techniques such as a land contract, a lease option or equity sharing may be advantageous for you as a buyer or seller. We will explore all of these techniques in detail and more in subsequent postings.

But no mater what technique you're going to use you want to make sure it's a win win for the both of you, however the one with the better knowledge of creative financing will ultimately come out on top. So it's very important that you have an understanding of your creative financing options so that you as the buyer or seller and not the other party can use the correct or best way to structure the deal.
My lessons favors the buyer and will first point out their best approach and secondly the sellers approach. You as buyer or seller will have to determine the technique that works best for your situation. With that said let's get to it....Next time
If you need any help structuring any type of deal give me a shout
Bill

hello everyone. Ok I just want to say even tho I am still very new to this I am getting more and more excited everyday! Well lately I have been taking small steps, which is good. I have been requesting info on different properties from website like zillow and realtor , and agents have been contacting me really wanting to help me on my new journey. I am in the process of going out and looking at properties ???????? so exciting. Even though I don't really have an idea of funding yet, that won't stop me from going.  I feel great things. Are coming my way so I'm speaking it into existence.  ONE MUST TAKE ACTION AND START  no matter how hard it may be. There are tons of people  out there willing to help, just reach out. The people I have. Talked to so far have given me great advice. Just wanted to share my. Excitemt.