bjcampbParticipant@bjcampbJoin Date: 2012Post Count: 24
I am going to attend a free conference on how to buy a house for a dollar?
Has anyone had any success in buying a house for a $1 and if you have would you be able to explain the process?
BelindaseqelMember@seqelJoin Date: 2012Post Count: 11
Have you read the book?
Theres only one example of how he bought the house for a dollar.
I'd like to know how he keeps the cash flow going?Paul DobsonParticipant@pauldobsonJoin Date: 2003Post Count: 1,196
The buy the house for a dollar idea can be achieved by what are generically called an 'assumptive joint venture' or an 'assumptive lease/option'. I treat them as very advanced vendor finance strategies and would suggest that they should not be considered until you have a good experience level in the VF industry. If you do happen to stumble across one in the meantime, I strongly suggest you ask an experienced vendor financier to look over the transaction for you or even do it together.
The Vendor Finance Association is a great place to meet vendor financiers. Dates and details of meetings are available at: http://vendorfinance.asn.au/meetings-and-memberships/
I believe it's important to build a good foundation to your vendor finance knowledge and there are numerous educators to choose from. Some that spring to mind are:
Sean Summerville – http://www.thepropertyking.com.au/
Rick Otton – http://www.rickotton.com/
Dave & Julie Siacci – https://vendorfinanceinstitute.com.au/home/siacci-system-of-vendor-finance-1997/
Paul Zalitis – http://www.aussiewrapper.com.au/Cash-Flow-Investing.html
Gordon Ku – http://gordonku.com/
It is worthwhile researching all these educators and choosing one that suits your style.
May I also suggest that you do some research about buying with VF. Some suggested places to start are:
Cheers, PaulbjcampbParticipant@bjcampbJoin Date: 2012Post Count: 24
I have looked at a couple of the websites you have provide and thankyou very much for your help.
We really want to vendor finance two properties on our own but with some guidance and help. Would any of these websites and there owners help us with this?