Flipping Houses With No Money
Flipping Houses With No Moneyt
It’s no secret that there is a mountain of money to be made in the real estate market. Some think it might even be the easiest way to become a millionaire! Contrary to popular belief, however, you don’t have to have a lot of money to start with. Hundreds of thousands of people across the country are making money without risking money or credit.
There are three basic methods in use. The first of these is to take over the debt load of homeowners. This can be done without risk by developing a “Agreement for Sale” deal. Many people are under a huge load of debt and will transfer their ownership to you along with the equity they have in the house, simply to be relieved of the burden of the debt. A second way to get into real estate investing with very little money risked is to wholesale houses that need “rehab.” These low end properties that are in very poor condition can be a veritable gold mine. You find the bargains and pass them along to the rehabbers who earn money fixing up houses to sell. You never own the property, but you can make anywhere from $5,000 up on each sale. It’s possible to wholesale 3 or 4 houses every month. Just think of the income that could generate! A third way of making money with real estate is using OPM (others people money). This means that you combine private and bank financing to purchase properties.
If you’re wholesaling. You don’t have to make any monthly payments or repairs. You don’t have to borrow any money yourself. One way to learn the tricks of the real estate investing trade is to find a mentor that already has had experience in Real Estate Investing.
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