Hi,
I was reading this Brad Sugar’s book Real Money Real Estate. And at the back cover this testimonial said he went to Brad’s seminar and from no properties, we went to buy 5 properties in 1 month with none of his own money!
How can one do that with none of his own money?
can anyone pls enlighten?Could they be talking about Quick Cash? but even that whenever u need to get a homeloan u cant get a 100% loaon!
Using equity in his own home.
eg. House worth $500,000, $100,000 owing.
80% lend (Line Of Credit) gives $400,000 limit, with $300,000 available.
$280,000 house, 10% deposit, 11% closing costs (incl Mge Ins)= $58,800 each.
5 Houses = $294,000
Note: You still need money somewhere, just that it can be in your existing home.
Regards,
Simon.
hmmm, interesting,, but he still needs to come up with the deposit isnt it? thats ‘not his money’?
Get some one to lend you the deposit money, if the deals a good deal, you may be able to lend from a mate at 10% (which is good for him if he is a bank saver),make enough cashflow to pay the house and the mate and some left for you.ROI Infinite.
Hi Guys,
There’s some information on low/no cash down deals on the PropertyInvesting.com web-site. You can find this information at https://www.propertyinvesting.com/strategies/creativefinancing
Perhaps they used some of these creative strategies….[?]
Regards
Brent Hodgson
PropertyInvesting.com
Admin Dude [8D]
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