WIP 1211: No Cash, No Credit, No Problem - Buying Properties with no Cash or Credit
Wholesaling Inc with Brent Daniels
Find distressed properties for pennies on the dollar and turn them for huge profits!
4.9 • 1.4K Ratings
🗓️ 15 May 2023
⏱️ 10 minutes
🧾️ Download transcript
Summary
Owner financing, also called seller financing, is an option in which the property seller agrees to finance the buyer's purchase. Unlike traditional mortgages, the buyer pays directly to the seller instead of obtaining a loan from a financial institution. While buying properties with no cash or credit through owner financing can be a feasible solution, it also comes with potential risks and pitfalls that require careful consideration.
To help you navigate through this process, Todd Toback will share his insights and guide you on how to buy properties with no money down in this upcoming episode. Be sure not to miss out!
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Show notes:
- (1:05) Beginning of today's episode
- (1:16) Exploring the world of owner financing: How to purchase properties without relying on banks
- (1:36) The Pros and Cons: Traditional Financing vs Owner Financing
- (2:55) Discovering Todd's best-ever owner finance deal
- (6:52) Step out of your comfort zone and try the no-money-down approach
- (7:35) With owner financing, the seller can receive regular payments instead of cash upfront, making it a viable option almost anywhere
- (8:08) Establishing a relationship with someone who owns multiple properties and acts as your lender creates a long-lasting connection.
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Resources:
- No Limits Real Estate Investing
- To speak with Brent or one of our other expert coaches call (281) 835-4201 or schedule your free discovery call here to learn about our mentorship programs and become part of the Tribe
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Transcript
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| 0:00.0 | You're listening whole selling ink episode number 1211 owner financing is when the seller |
| 0:06.7 | instead of getting cash up front they decide that they are going to get the purchase price |
| 0:10.8 | in that house in nice easy monthly installments right instead of taking it all up front now |
| 0:16.8 | sometimes there's interest attached to that like there would be the bank sometimes there's no interest |
| 0:21.0 | but I could tell you that this tool is extremely powerful I've used it many many many times |
| 0:25.7 | anytime I could buy a property with owner financing you have my ears open and my eyes open |
| 0:31.9 | because I want to know more this is game changing information guaranteed to raise your real estate |
| 0:39.7 | wholesaling business with actionable steps you can take immediately to navigate the ins and |
| 0:44.6 | outs of wholesaling and start making money today join us as we put our guests in the hot seat |
| 0:50.6 | and dive deep to dissect their strategies for success to enable you to duplicate their |
| 0:55.4 | results you're listening to a wholesaling ink the only show dedicated to making you a fortune in |
| 1:01.5 | wholesaling so today's show we're going to talk about one of my favorite topics and that is owner |
| 1:08.7 | financing in other words how to buy properties from sellers without the banks right you don't need |
| 1:13.8 | credit you don't need a lot of cash hopefully you are not using a lot of cash you don't need |
| 1:18.9 | experience and if you know how to structure these deals correctly you can generate cash |
| 1:24.4 | and you can grow your net worth in a very very very short amount of time and by that I mean a few |
| 1:31.0 | years okay so let's talk a little bit about what owner financing is traditional financing is when |
| 1:36.4 | you would go and you'd find a rental property right and you're like hey I want to find a great |
| 1:39.7 | property great price and I will go to the bank and I will get a loan to buy that property I'll put |
| 1:44.8 | 20% down I'm going to qualify with the bank they're going to check my credit and assets and debt |
| 1:48.6 | to income and I'm going to pay that bank every single month until that loan is paid off 30 years |
| 1:54.1 | from now owner financing is when the seller instead of getting cash upfront they decide that they |
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