Buy property with no money down now this is something I actually know quite a bit
about because I started out at nineteen years old and I had no money so I've
been doing this over 30 years and I'll show you how I've done it and how you
can do it too before I get into that I want you to take notice here I have an
app and if you'd like a copy of it free I'm gonna it's ready I'm not gonna send
it out till I get a thousand people signed up already getting really close
already but just write me at Tom@FlipAnythingUSA.com and put your OS in subject line
you know your iOS or your OS I should say for your you know just write
Android or iPhone and then I'll know what you need any I'll be giving away
the Android version first and the iOS for for the iPhone soon after so let's
get into it let's talk about buying with no money and when I say no money I am
talking about none of your money okay it always takes money to buy it's got to
come from somewhere but it's not impossible to do I've been doing it for
a long time and you can too and I've got a one-man studio here so bear with me I
gotta hit refresh on the screen here and then if you got any questions I'll be
able to take them because I can see him over on my other monitor
all right so I'm gonna take you over to the whiteboard all right
so how do i buy real estate with no money okay
sounds unbelievable and some of the times I've heard people talk about it in
ways that are actually quite unbelievable and nearly impossible but
I'm gonna show you exactly how I have done it so I know it's possible okay so
first of all the only way you're gonna really be able to buy a property with no
money down is you have to have your bases covered when I say that I mean you
gotta be you got to have a deal you gotta have a very good deal okay and
there's reasons for that we're gonna get into it but the only way you're gonna
get a deal on a piece of property is you have to understand the values you have
to know the values of the properties that you're focusing on so number one is
you gotta understand the values in the neighborhood
of which you plan on buying okay I always tell people buying your own
neighborhood because it's one you frequent the most often it's the one
that you're gonna catch and see if something's odd and I'm talking about
whether a property becomes vacant or you know a property I has you know for sale
sign because getting there first is key and getting a deal okay so I've got tons
of videos now on making deals and Shawn deals that I've made even recent ones in
the last couple of months or weeks and you will know that I always say be
relentless be there first that's key and please share and please subscribe please
and like videos you play you're at it so number one the way you're gonna get a
deal that is below market and the best deal you can possibly get you got to
start calling on for sale signs now not just to find a deal but this is where
you get your education so that you know a deal when you see one
listen I've lost tremendous deal once why it's not very often but I have lost
I've lost some really good opportunities because I was looking before I was was
prepared for the neighborhood that I was looking at and you know sorry I somebody
handed me a deal and I wasn't quite sure it was a deal and by the time I could
figure it out somebody else took me out and so you don't want that to happen so
it's it's key that you start looking immediately and start understanding
values in your area so how do you do that okay like I said start calling up
for sale for sale signs no not just that you're gonna talk to the agents okay
that have these signs up and make them your friend talk to them you know tell
them that you're interested that you're a player you're gonna buy and ask them
for their opinions what do you think you know what's what's a deal in this
neighborhood because they probably in the beginning they know better than you
but before you're done you're gonna know probably better than they do so always
talk to agents when you see a sign up you call on it and when you see a sold
sign on it call back talk to the agent now they're really not supposed to
disclose and tell you exactly what they sold it for but many of them are pretty
kind and and will let you know a pretty good ballpark of whether it's sold full
price or maybe it went over over the asking price that happens too sometimes
but that way you'll be able to discern a deal when you see one because you'll
know what you know what a 3-bedroom 2bath is and this doesn't this extends
to all property all real estate of all kinds I bought more than a hundred
pieces of vacant land acreage many many many single-family homes some duplexes
multifamily apartments fantastic incredible deals on multifamily
apartments also on land land is a huge opportunity where you can buy with
little or no money down so I'm gonna get to today's video is just about buying
with no money okay I'm gonna show you how I've done it and then the ways that
I've done it okay so you always call on the sides you always talk to the agents
that have signs and you always talk to people that are selling you know
independent people that have a for sale sign by owner and you talk to a man you
stay tattooin okay it's very important you
want to make everybody your friend but you also need to stay in touch often
because if you're not in touch often you're gonna be forgotten if I've seen
it many times and one of the reasons I get the deals that I get is because I'm
very very you know disciplined I contact people constantly I stay in touch and
it's easier than ever now with it you know the text an email or but you know
nothing beats person-to-person but it's still very important that you stay in
touch one way or another you know because what it does is it puts you in
the forefront of their mind and I'll give you an example you know you can
call on a property one day and and then you call back the next or a week or two
later and you're gonna find out oh they drastically dropped the price or you
find out that they drop the price a week ago and now it's sold and now it's under
contract by somebody else they didn't call you they didn't think of you they
didn't they didn't think of you that's what happens
but what probably happened is somebody called that day the same day that they
just lowered the price and they said hey we just lower the price come take a look
because that's how it works that's how it works the agents as soon as that as
soon as the news changes they spread it out to whoever's nearby so you have to
constantly stay close okay okay so said make everybody your friend okay
also let everyone you know let everybody know that you are a buyer deals always
make it clear they you know you buy any age you start say look I'm buy I'm a
buyer but you know I'm always looking for a good deal I don't want to buy just
anything I'm looking for something that's a good deal otherwise you'll get
handed all kinds of stuff that is just an average deal and you don't want that
okay when you do all these things now you're building your own personal
database in your mind you're gonna understand that you know when you look
at enough three bedroom two baths or whatever a land or vacant land or one
acre or two acre lots whatever you're going to know if maybe they have sewer
maybe some as a walk déméter these are all things you'll
figure out as you as you discover a neighborhood and depends on what type of
property you're looking at but it's all relative to every different kind of
property doesn't matter if it's commercial or office or industrial I
bought all properties this way and in some nearly all I probably done with no
money at some time or another so you'll know a deal you'll know a deal when you
see one and that I can't tell you you're gonna hear me say it a lot because that
is the most important thing if you don't recognize a deal when you see one you
can't take advantage of it so you would have to do these things that I just told
you you have to do there's no shortcut there's no mentoring program where
somebody's gonna put their arm around you and make this happen
this is a hundred percent dependent on you and you alone okay once you know a
deal then you can sign for a deal right you go in and it's gonna be you know you
agree but you're agreeing to buying this property for amount that is less than
what the property is worth what the market value is cuz you know values so
you go in the siding you write your check for your deposit and now I know it
says you know no money down but you know relatively speaking a few hundred
dollars there's no money but whatever if you have to go borrow borrow the deposit
you know write a check and and and then borrow the difference or whatever you
got to do but there's no getting around a deposit check if you try to get away
with no deposit you're gonna look like a flake and nobody's gonna trust you so I
want to qualify no money maybe you borrow the money okay that for the
deposit okay no big deal so you're gonna get the deal you're gonna get the deal
signed now once you've got that the deal signed you're going to this is the key
thing once you have the deal signed where you have built in equity meaning
if you're buying it for 70 cents on the dollar so you got basically you have a
30 percent equity this is what makes a deal a deal is getting it under market
when you have a deal you can produce that to could be a hard money lender or
a potential partner the so where this is where the no money
comes in they're gonna give you the money right if you have heavy equity
that's what every bank looks for that's why when I buy a building now they want
me to put 25 percent down if it's not an owner-occupied I might get away with 20
percent if it's a big industrial building and I plan on occupying it but
in general they have to have equity to feel secure
I just bought a lake house that was worth several hundred thousand dollars I
got for $80,000 this is less than six months ago I got a hundred percent
financed okay and I didn't even need it 100% financed I'm just gonna pay cash
for it but I knew that hard money lender and I showed up and I said hey listen I
got this thing it's a steal and I said you got any money so now I don't hardly
have any money Tom I have probably less than a hundred grand I said hey that's
great I only need eighty okay so 100% financed that was a no money
down deal for me and that can be for you too and now briefly I'll talk about this
you're gonna find hard money dealers they're gonna learn two points maybe and
they want to get a 10% interest listen if that's a stranger loan to you that's
a fine deal that's a fine deal and what do you care about paying ten percent
interest on something that you've got heavy equity in that you can turn and
flip or whatever so you do what you got to do to get that money that's you know
that it's cheaper money that have an apartment and which is also an option to
you if you get a partner them that pays for the whole thing are gets the loan or
whatever you're gonna split all the money anyway so don't be afraid of hard
money lenders you know I I borrow money as a favor to people but I only pay four
percent because I've got great credit and I don't have to pay more than that
so any of them built in equity that's gonna lead to you getting 100% financed
deal or go find a partner now it's 100%
financed again no money for you right now
assignments okay now assignments is not really a way to an assignment is a way
for you to make money and this is one of the first ways that I discovered how to
make money this way is I found a large industrial property kind of a commercial
actually it's kind of a combination it was a in the front it was retail in the
back it had a big roll-up door and it was a plumbing outfit
anyways I recognize this as a deal and I've a little bit of details - bottom
line is I got it signed where I could buy it for like 110 120 thousand dollars
went to somebody that had money said hey you smell bosses hey boss you know what
you want to you want to go in on this with me and he said man that's a great
deal Tommy he goes but I don't want a partner and he said how about I gave you
$20,000 and you just take and and you just go away and I'll buy it by myself
of course perfect that's all I wanted that was
great to me I made a deal just like that so you have that option but if you've
got a deal you can either find a partner or you can find a hard money lender they
can look at the property and determine okay yeah no problem plenty equity here
if you don't pay me I'll take the property back I'll make even more that's
how I would do that's how I would feel okay so let's talk about backups to this
let's say you have a deal on a property and you're not gonna be able to get a
partner for whatever reason okay good this is other ways I've bought property
and I'm gonna talk about you what you do is agree to a very short term financing
in other words you say let's sign this deal let's write it no money but I'll
pay you off in six months six months or or what you do is you just kind of get a
long escrow one of the first property I bought when I was 19 years old I got it
owner financed but I got a six month escrow that six month escrow also
allowed me access into the property so I turned the lights on I moved into the
property moved my company and the property I just started the cabin shop
at the time so I had no payments now for six months so that allowed me to save
basically I paid rent to myself and just save that rent and at the end of six
months it was essentially a no money me down
deal because I would have been paying rent to my previous landlord but now I
was the landlord and I had no payment because I didn't quite own the property
but I had the rights to it so at the end of the six months I had like ninety five
hundred bucks and and and had my down payment to buy the property and it was
owner financed and it was fantastic okay that that's one way okay
another way is if you don't get the extended term like that to get your
money so you in other words you use the property that you have but you have the
freedom to use it to make money with it until closing
and then so you're using the property to make the money to come up the down
payment to buy it and then of course then after that takes care of the
payment contract for deep contract for deed is something I haven't used that
often but I really really like this this tool I bought about one of my first
homes with this one that spent third or fourth home that I actually lived in but
I don't a lot of real estate buy now and but I found this property I wanted to
buy and told the owner I said look I'm gonna have can I pay cash for this thing
here and about I don't know six months and can we do a six-month escrow and I
said I'll just pay you rent and he said well let's do a contract for deed he
wanted it he wanted to have a contract for deed now what that means is it's
almost kind of like a lease option to buy kind of not quite the same buddy but
it's a contract that says I'm gonna pay him and maybe in my deal is I was paying
the electricity I was paying I was paying all the utilities of course cuz
living in place but I was also paying the taxes on an any upkeep that there
was and then at the end of I think six months a year I remember exactly I would
come up with the rest of the money to buy the whole place in the meantime
every payment that I gave him he was givin me a little bit of credit towards
purchase because part of that paint money I was paying him was paying part
of the mortgage or I'm sorry he was paying part of a mortgage he had but but
so he'll out a certain amount of it as principal but even if it's interest only
in his mind it doesn't matter your you're getting the property held for you
until you can get a loan but essentially you
you know this isn't necessarily a purchase but it's a way of getting time
and it's a contract for a deed okay this is a backup if you can't make some of
the other stuff work but it's also something that suits people it suits
people sometimes let me give you an example let's say I
liked you and I wanted to sell you my property
and I know that I'm gonna take the proceeds of this property that when I
when you do pay me off cash I'm going to buy something else okay so I know that
you're gonna eventually have the money so I might give you a contract for deed
with the reason being is I'm not ready for this to close because this property
once it closes I'm gonna have cash and I'm not gonna have anywhere to put it
yet so what I might do is say give you a contract for a deed and now wallet we're
waiting for you to get your contract I'm gonna prove that expires and you have
your money to pay me I am gonna go look for the next property that I'm going to
buy with your money so that's a reason somebody might give you a contract for a
deed they don't want to close the deal because as soon as it closes then they
either have to have an accommodator you know the clock starts for deferring
taxes you know in other words deferring the gain off this property into another
so anyways that's just another reason for contract fatigue okay so the other
backup to that is like a road here is a long escrow and a long escrow surgery if
you can have access to the property it buys you more time and even if you don't
have it it buys you more time to go find a partner or to go find a hard money
lender if you watch any of my last more recent videos you know that I've been
having to close deals all cash and on very short notice I mean I have a
three-day deal I have an 11-day deal I think
lakehouse sent a bottle so all these properties just bought in the last few
months the lake house I think also I mean I think I bought that inside of
three weeks and that actually was a long escrow compared to the other ones so
that's it I don't know if anybody has any questions or any questions at all
any fears any fears with doing this stuff for a Ryan how you doing
anyways any questions you have this is good time or if you think of them later
you can always put them in the in the you know below in the comments and we'll
certainly circle back and get to answer them try to think of what else I can
cover here with you well one thing when you do contact agents and you talk to
agents is you learn about the area you want to ask them questions like you know
hey how much is the property also you know why is it so much if it seems like
a lot because you might go why is it so much why it seems like it's high and
you'll find out that that may be you know there's that happens that happens
and so a lot of tension well one that seems high
you know and anyways I can give you a perfect example and this is actually
deal I lost recently actually less than a year ago I lost this deal and so let
me explain what this was because believe me you're like you know failures the
failures you're gonna learn from like like no others so I have a guy well yeah
Ryan you oh yeah I don't even know what we have to talk about when you go to buy
it of course you got it you want to have clear title so you're gonna go to a
title office and you're gonna want to be sure to have an insurance policy for
sure so but let me tell you about property and a property it was
industrial okay it looked like this next to it was a house behind it was a duplex
a little two-story duplex okay
okay I've been in touch with this guy I was doing everything right I was staying
in touch he told me he wanted to keep his house
but he wanted to oh I think he wanted a nine hundred thousand or a million
dollars for just this maybe a million with with this other property here but
he would he did not want to sell the house he didn't want to sell the house
so all of a sudden this thing shows up on the MLS and I see the pictures and he
wants a million dollars and I'm like yeah that's not it's probably too much
yeah it's too much you know I'd already talked to her enough well I find out I
talked to another investor find out he bought and I go are you kidding me how
do you make sense of that he said well he goes you know a building and a duplex
and a house I know what do you mean a house he said yeah no one I got the
house with it I know you gotta be kidding me
so this guy and again this goes to that when I say keep in touch be relentless
otherwise you're gonna be forgotten this case should have called me
I bet I even helped this guy get a contractor for his underground I can't
believe you didn't call me but anyways it happens I'm not really too surprised
at all so this is what happened he'd been talking about these two properties
this one and this one together okay for 1 million just a little bit too much
just a little bit too much he didn't want to sell this one well now he puts
her on the you know in the MLS and it's an agent and he includes this one but I
talked to him so much I'd already knew it wasn't included that made it a
beautiful deal so I lost it that's what happened all right okay great
thanks Stacey glad you're here okay Stacey if you buy 60 anchors and split
it in one to two acre sections but its owner financed how do you sell off the
tracks since the owner still has the deed okay
so Stacey you're talking about mine 60 acres and it's being owner financed by
somebody else okay so so let's say you put 20% down and you
know let's just say how much you paying for the property just give me a ballpark
it doesn't really matter but I'll wait free to answer all right
well anyways here's the deal Stacey's guys talking about 60 acres and she
wants to split it into say one or two acre parcels let's just say though okay
one hundred and ten thousand okay beautiful okay first of all you need to
make sure that you can break it up into those small other parcels and if you can
fantastic so let's just say you're gonna break
that sixty acres into two acre parcels okay so you're gonna get 32 acre parcels
out of this thing so what did you put down on this 20% or what do you think
you're gonna put down on this my next question is going to be what do you
think you can sell that the two intrabar CIL's for per per each because what I
would do is what you're gonna do is you're gonna you can go ahead and do
everything you're talking about it you can break it up just like you're saying
but depending on how much money you get per two acres you may have to go ahead
and put those in escrow and kind of close a few of them concurrently so they
you have enough money either to pay off the guy that you owe the money to
or you may go back to him and say you know let's get a you know a drawdown
agreement and what you would do is you tell them that every time you know let's
just say you have these two acre parcels and let's just say for you know let's
just say you're gonna get you're gonna have thirty two acre parcels and you're
gonna sell them for ten thousand dollars apiece okay so you make an arrangement
for this guy with the person that you bought it for it he's going to release
his interest in each of these two acre parcels as they're sold and if your so
much to say you're selling them for ten thousand dollars he will agree to
release them for for $8,000 per parcel okay because at $8,000 per parcel you're
gonna have him paid off in like you know in like 12 parcels like 12 times 12
times 8 is 96 thousand so with the first 12 sales he's gonna be paid off and then
the balance of those will be your own
okay you're buying it for 2,200 I don't know I don't understand with that what
you mean by that I understand you want to sell it for 8 to 10 so if any of the
bottom line is this Daisy the numbers don't matter that much let
me explain how it works so so what you do so here's your law listen let's just
say this is your encourage okay and you're breaking this into will just say
that's 30 parcels okay let's just say it's 30 goes on okay you you're putting
would you tell me you're putting down I don't know well I'm just gonna assume
that you're gonna put 20,000 down see you oh you owe 90,000 so let's just say
you paid 110 like you wrote you Oh ninety ninety thousand so and you say
you plan on some of these eight to ten will be conservative you're gonna solve
for a two piece okay okay so you're gonna make a deal you're gonna have 30
times AIDS you're gonna have you're gonna have two hundred and forty
thousand in parcels and you only owe this guy $90,000 okay so you when you
sell 12 of these twelve times eight okay
that equals 96 okay so you can make it or you can make a deal with him say look
we want to pay you off incrementally and we want to give you you know maybe you
would maybe you don't even want to give him
8,000 permit you know I worst case you give them
you just give them the full price as your seller okay you give him hate and
after 12 Lots he'll be more than paid off and what you can tell them is is
that every time you make a sale you're gonna give the whole eight thousand if
you can talk them into taking six thousand that's probably even better
because if you do it at six thousand okay six thousand you give him six
thousand you keep 2k for yourself so after fifteen lots with the six
thousand each I'm sorry your son for eight thousand each but
after fifteen Lots sold at eight thousand you keeping two for you six for
the note holder I'll just say the owner of the previous owner okay
so 15 times six there's his ninety thousand right there okay so after
fifteen lots by the time you burn up half of the property you'll have thirty
thousand dollars in your pocket you'll live recoup your money Galland plus
whatever probably you spent on doing the subdivision and now the you'll have the
remaining fifteen lots that you're gonna sell on your own over you know but now
now you get all the money because he'll be clear by the time he gets here that
that's not uncommon at all you know you can ask him it's not gonna happen
probably because you got to be a fool to do this but sometimes people will come
in with the idea of developing and they want the guy that they owe the money to
to subordinate to a new second or the cost you never want to do that you never
want to do that as an owner when you sell you don't want to do it because
you'll be stuck with all the liens if he doesn't know what he's doing so but do
you understand is that clear I think everybody understands that right you
just basically get the guy that owns it to do a release on each lot as they're
going he just releases that he releases it he releases it but he's doing it for
money and it's a good way it's a great way to sell and buy and sell it's not a
problem at all all right okay well Stacey you're saying so how do people
by the lots build yeah I'm not sure how did the people buying the Lots build I
assume they either have a builder or they are a builder
I mean I've flipped a lot of lots to builders lots of property so you know
sometimes people just buy a property with the intent of you know building you
know two years down the road people go out to the country and they buy a lot
you know they finish up whatever they plan on doing on the home that they have
or maybe the kids are finished in school and kids go to college they move out to
the country how was all the time there's a lot of reasons for moving and I'm just
assuming you're in the country cuz you got a you know 60 acres so I just sold
52 acres there's 180 homes on it now and that's in less than two years and I made
over two and a half million on that property so I like where you're going I
didn't even subdivide mine but I Rizzoli so that it could be subdivided to
smaller stuff so that's what I would do is you just you just get a release an
owner's release on the properties as they're being developed and that'll take
care of that it's about that simple so if you're just now watching please like
the videos please subscribe and please get in line for I got an app I'm giving
away it's a hundred percent free and it's I'm gonna release it as soon as I
have a thousand people that signed up for it made a lot of money in real
estate been doing this since I was 19 it's a great lifestyle and it is much
easier than most people realize it really there is no school they can teach
you what I can teach you this is all experience but it you know you can learn
it you know I've just learned it by doing and but I can probably shortcut
you a lot and save you a lot of time
okay I assume there's a delay okay gotcha
understood thanks thanks Stacy appreciate the questions but so look I
have four kids I have two in college I have twin
14 years old the purpose of my blog here is to to leave a guidebook for my boys
to follow you know my family I got Alzheimer's runs in my family my dad
died of my grandmother died of it and I'm hoping I miss it but I may not and
I'm kind of an old dad now so I I just I'm afraid that in 10-15 years I may not
have the capacity to train my boys and to show them what I know and and that's
probably gonna be the most hungriest to learn although they're actually doing
pretty good already you'll see them in some of my videos too but depth please
like my videos again please share and subscribe if you can get on the
notifications that's a good way Stacy I had I asked her to get on the
notifications last night and her husband had been writing me I told them I you
know I answer their questions if they you know if they come on live and I
appreciate it and see your questions help educate everybody else so I really
appreciate the fact that you you know you you did come back and ask me online
so everybody could get the benefit of the answers so again Tom that flip
anything usa.com and I don't I don't sell seminars I don't do any personal
mentoring Stacy and Wilbur can attest to that they asked me to contact when I get
other I get calls all the time for such things but really this is how I want to
mentor I want to mentor like this and I want to do it in a communal way where we
can all learn from each other and and I believe me the only payment I want is I
want to see you make money because if you're making money it means I'm doing
this right and if I'm doing this right it's gonna serve my kids later on so
that's it for now I'm gonna say goodbye so please stay in touch please please
join please subscribe I'm gonna be doing this I mean until I can anymore okay so
that's it for now flip anything USA again share subscribe and like thanks a
lot
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