I am stuck

I am stuck

I can not find cash buyers and I can not buy on my own. I do not have credit to do it. I am stuck because I can get buyers to help me. I have buyers that want to do rent to own, but I can't sell to them because I can't buy. There are too many I can't here.

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Deanna MacDonald


Deanna

You are right, you have too may "I can't" in there. You say you have buyers that want to do rent to own. Do you know what their criteria is? How many bed/bath, area, what they have for down payment, how much rent they can afford based on what they earn? If you don't get that info if you do then go to craigslist or the newspaper and look for houses for sale or for rent and call the seller/landlord and if the house would fit one of your buyers ask them if they would consider selling their home rent to own/rent with option to buy/lease purchase, get a lease option contract with seller, sign lease with buyer and take a percentage of the down payment as your fee. So if the seller wants 100k for their house (and it's not upside down)You are going to tell your buyer that the house is 103k with a 3k down payment credit toward purchase and you get the 3k or you give 1k to seller and keep 2k. You need to tell seller what you are doing and that buyer will be getting credit for 3k but that your fee is 2k, and they are getting 1k plus first months rent.
Assign your contract with the buyer to the seller and cash your check.

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Cathy B

Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...


Deanna

What you need to do is work directly with distressed, motivated sellers. No agents involved.
Get their property under contract and assign the contract to one of your buyers. No Money down, no credit, you buy nothing.
Remember, "Can't" never did anything!
PM me with any questions if you would like to.

Michael Mangham
MD Home Acquisitions LLC

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Knowledge is power, but execution trumps knowledge. Tony Robbins

http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site


discouraged

don't give up! and do not let anyone tell you that you can't or NO.. Open you mind and be creative. Cathy is right if you find a lease option person then find them a house. In Deans book read about Greg Murphy. That will help you. Remember this is not a cookie cutter business. You can mold each deal. Good luck and keep asking questions

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"Don't tell me I can't, Tell me how I can."