NOTES with Jay Conner Success 3 Ways to Fund Your Real Estate Deals Without Needing All the Cash JUNE 2019
I f you want to be successful at real estate investing, you need to be able to quickly acquire the cash you need to do deals. The majority of the deals we do require all the cash upfront. There’s nothing more frustrating than missing out on a great deal because you couldn’t get the cash together fast enough. As you may know, my favorite way to buy when all cash is required is by using private money — and if you didn’t know this, then hello, my name is Jay Conner, the Private Money Authority. Thank you for reading my article this month. That said, if you haven’t mastered the art of getting all the cash, don’t be discouraged. There are other ways we can invest in real estate that don't demand all the cash upfront. This month, I want to discuss a few of the types of deals we can do that don’t require much money. Wholesaling First, let’s make sure everyone is on the same sheet of music. When wholesaling, you’re a matchmaker. You’re really focused on marketing and locating motivated sellers. Once you find a motivated seller, you can control the property through various methods, then you shift your focus to assigning the purchase option agreement to another real estate investor who will buy the property. In exchange for that service, you receive an assignment fee. You receive that fee by assigning the contract between you and the motivated seller to another real estate investor, who will carry the deal through or finish it out. When wholesaling, you’re basically a broker. Buying Subject-to (Get the Deed) When we buy a property subject-to, the seller of the property has agreed to transfer the title and ownership of the property to us, while also agreeing to leave the current mortgage in their name. Meanwhile, we agree to make their monthly mortgage payments. You may be asking, “Jay, who in their right mind would agree to sell us their property while allowing the mortgage to stay in their name, rather than having us pay the whole thing off as would normally happen in a conventional purchase?”
Answer: “Amotivated seller who is looking for debt relief.” Another question I get when discussing buying subject-to is, “Jay, when does the seller’s mortgage get paid off?”
Answer: “When we locate a buyer who is mortgage ready and can cash us and the original seller out.” Seller Financing When the seller of a property is willing to transfer title and ownership of their property to us and they agree to get paid by us making a monthly payment to them, we call it seller financing. The seller is secure because we sign a promissory note to pay them, and the seller receives a mortgage, though some states call it a deed of trust. In many cases, the seller of the property (particularly when they own the property free and clear) will agree to sell us the property with no down payment and 100 percent of our monthly payment going towards the equity of the property. Hence, when using seller financing, we are able to buy with no down payment and no interest expense. Would you like to learn more about these creative strategies and methods for using other people’s money to fund your deals? Here’s how you can: I have two free tickets — valued at $2997 — for you to attend my upcoming live event, The Real Estate Cashflow Conference (June 19–21). Hurry to JaysLiveEvent.com to learn all about this offer and get registered today!
I will be there to personally teach all three days, and I look forward to seeing you at the event. – Jay Conner
How to Get Lots of Money for Real Estate Fast & Easy! • Call Now! (252) 808-2927 • 1
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