Tip #2 Use an Option--Rather than a Sales Contract

In tip #1 we discussed buying a property with none of your own money--using Subject to, Notes and Partnering with your maintenance person. But tip #2 is even better than that!

By using an Option rather than a sales contract to get control of a property-you can even eliminate all of your closing costs.

Here is how it works.

Find a motivated seller who still has some good equity in their home.

Convince the seller to sell you the home but have the seller sign and notarize an Option Contract.

File a lien at the county court house against the property to protect your interest.

Market and sell the home for a higher price to your list of hungry investors or retail buyers.

Have the buyer and seller sign a standard sales contract with the new price.

Set up the closing and instruct the title company that you are a "Title Flaw" that will need to be cleared at closing.

Get the buyer and seller to attend the closing and collect your check.

You will have no closing costs at all. Again don't expect this skill to be easy the first few times as skills have to be developed. But once you learn to work the formula you will be able to generate a good income without using Any of Your Own Money.

Best of luck with your investing!

Manuel Becerra
(909) 319-0332
For great dicounted deals go: www.megadiscounthomes.co.cc/

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