How to Buy Real Estate without Cash or Credit

How to Buy Real Estate without Cash or Credit

By Keenan Handy, July 2, 2014

http://www.freedommentor.com – Lecture I delivered to the University of Central Florida Real Estate School on How to Buy Real Estate without Cash or Credit. …

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25 Comments

  1. Billion Are says:

    Phil, I have a major problem may I email you the situation. My parents have
    died and now I have a sensitive issue which will result in me losing my
    parents home. my email address is keencorp1@gmailcom. Please drop me an
    email so I can email you with my question

  2. Marc Tonzillo says:

    Phil, is it actually possible to close a sandwich lease option deal in the
    real world? Transactional lenders won’t fund the A to B if C gets a regular
    mortgage and conventional lenders won’t finance a deal that’s been
    assigned. How the heck is this possible?

  3. Marc Tonzillo says:

    Some teachers say that you should close with the seller first using
    transactional funding and then, once you own it, sell to the tenant buyer
    who gets a regular mortgage. I don’t see how this can work because every
    transactional funder I’ve ever seen won’t do this if the C buyer is getting
    a regular mortgage. In terms of a double close I’ve never seen a
    conventional mortgage lender finance the C buyer so that B (the invester)
    can pay off A seller and sell to C buyer. You actually have these lenders?

  4. MrAlanKendall says:

    I had no cash, no equity and bad credit in 1998 and went out and bought a
    million dollars of Real Estate with these methods. They do work but you
    need a motivated seller. 

  5. Umaer Haq says:

    is this video old news or is everything still relevant?
    

  6. michael benedetto says:

    the socialists in my town shut you down quick if they catch you renting
    rooms 

  7. jmkkalo1 says:

    YOU NEED CAPITAL TO START A BUSINESS LIKE THIS; not a lot but some
    capital. In JERSEY , no money down DOES NOT WORK. houses here sell
    pretty fast to homeowners…buying a piece of property or condemned small
    house and building new home on that property is what works.

    THE AVERAGE HOUSE HERE IS AROUND 300K AND AREAS WHERE ITS REALLY BAD LIKE
    NEWARK OR IRVINGTON WILL WORK WITH SECTION 8.

    THIS BUSINESS WORKS IF YOU HAVE THE CAPITAL ( SO MUCH EASIER)

  8. jmkkalo1 says:

    BUY HOUSES IN GOOD AREAS..AVOID GETTOS AND BAD AREAS……MIDDLE CLASS OR
    HIGHER IS GOOD

  9. Ronnie Jones says:

    Phil, I saw a beautiful property, and it’s a classic subject to deal. I
    would love to close it for my 1st deal. How do you suggest I attract
    tenants to be able to afford the $1900 note on the 6 bedroom property? 

  10. Wisdombluetooth says:

    By the way, you rewarded the attendants at this seminar with a free paper
    book,
    I am watching you here and not live…:-) can I get an Udemy invitation to
    the course 

  11. Nuvin Bharos says:

    Hi Phi HoW much i have to put the margin profit

  12. Hello says:

    renting is a headache. 

  13. MrKnnknn says:

    @14:00 So why didn’t Cory rent out is property for $1000?

  14. Interesting stuff says:

    Hi Phil, very grateful for your videos, and they are a great public service
    to newbies. I have a 3 part question: Part1: if you are licensed RE agent,
    and want to do wholesaling, via contract assignment, and disclose, as
    required, that you have an RE license, are you in fact engaged in
    brokerage, putting buyer and seller together for a fee, but with no
    fiduciary responsibility to either party? In other words, couldn’t the
    practioner of wholesaling be accused of brokerage without a license, and if
    you do have a license, are you held to a higher standard? Part2: if your
    end buyer fails to close on the B-C transaction and backs out of the deal,
    are you, the A-B buyer (the person that got the deal in the first place,
    obligated to buy in the first place? In other words, couldn’t the seller
    sue you for specific performance? If you get out of a contract, you can be
    sued for specific performance. It’s not like a listing agreement where you
    are merely the agent, you in fact, are acting as the buyer.

  15. Lynn I says:

    Phil, You said something about not being able to sell real estate if you
    have student loans unpaid. Does that mean I have to wait for years before I
    can do real estate? I am still a student but will graduate in about a year,
    with student loans.

  16. The Police says:

    The only thing I don’t understand is how you would keep the owner/seller
    that’s financing from eventually realizing the profit you’re turning by
    renting out the property and nullifying the contract to keep the income and
    property for themselves.

  17. Lisa LV says:

    This is very interesting to watch. I’m interesting in buying a home but my
    income only $1500 and i need to support my family too. Not sure when I can
    buy. My credit is really good though.

  18. Mike Duke says:

    I’m not sure I understand how to establish a trust on a lease to buy
    option. Who falls under the trust? Owner, leasee? How does a trust get
    established? Taxes involved with establishing a trust? Need more info
    please.

  19. paperrchaser says:

    My question is, why would someone hand you the property to just get rid of
    it and take over the payments when they can find tenants themselves. I’m
    sure if the owner had an idea of what you were doing they would just take
    the idea and say why should I hand over and trust someone with my credit
    when I can get tenants myself and make that money. I’m just curious and
    putting a scenario out there.

  20. John dontknowmyyname says:

    Quick Question- When trying to do a subject to with a seller can’t you just
    create a blanket loan to the seller equivalent to the existing financing
    amount, pay to the seller, and they can send it to the bank themselves?

    Have you tried this “blanket loan” and does it work? 

  21. John dontknowmyyname says:

    Sorry to bug you Phil! I’m just concerned with how you plan for unexpected
    expenses with a margin of only $100! Do you ALWAYS market the properly well
    enough so that you can prevent a vacancy? I fear that with such a slim
    margin and a 30 day eviction process I won’t be able to cover the next
    months rent.

    Thoughts?? 

  22. Morahman7vnNo2 says:

    Most interesting.

    But it’ll probably be harder to do this with commercial property or a
    hotel/motel.

  23. Andrew Beckford says:

    Very Informative. 

  24. Get My Home Now losangelesresidence.com/estate says:

    Thank you for this lecture. 

  25. John Wright says:

    @33:00 are you referring to DC or the state of WA