I was going to make this a product that I could sell, because most people who read things for free, generally don’t execute.
PLEASE PROVE THOSE STUDIES WRONG.
Now, to start, you need some balls or ovaries of steel. No excuses, no BS, no nonsense. What I am giving you is a specific list on what to do.
And hey, I WILL dropkick you if you don’t execute.
Let’s rock
- Wholesale ONE Deal
I mention ten ways to buy property with no money down in my book: From Minimum Wage to Leaving the Rat Cage, but I’m not going to leave you twiddling your thumbs. The number one way to buy property with no money down is:
>Network Like a Maniac<
One advantage above 99% of investors that you have is your circular items called balls/ovaries.The first excuse I always hear with this is: Well Ivan, I am not as social as you, it doesn’t come natural to me to ask people for what they’re looking for, or what I need.Pardon me as I raise my hand upon you * slaps you on the shoulder *.What do you do when you go for a job interview?
What do you do when you ask a man or woman out on a date?
What do you do when you are a little fetus?YOU ASK FOR STUFF. Only thing that’s different when you’re networking is the quantity.
Now, tangible ways you can do this is collect a list of sellers & buyers of properties, and they’re specific criteria for selling, buying, or both. I have made tens of thousands from simply knowing the right person at the right time, and connecting them to the right party. Some times in as little as a few minutes interaction.
There you go, number one done.
- Buy ONE property with a carriage house
This one takes a little bit more work, but it has worked out very well for me. In fact, it’s a huge part of leaving my job.Buy a house at $150,000
Rent the main house for $1,700.
Rent the carriage house for $1,300.Congrats you have just made $3,000 a month.Let’s say you financed it, you will still make a ridiculous return. Check this out.
Down Payment $7,500 (3.5% FHA + Rough Georgia Closing Costs)
Mortgage P & I, Taxes, and Insurance will probably be $1,000$3000
-$1,000 loan service
= $2,000$2,000 x 12 months = $24,000
7,500 / 24,000 = 312.50%
You just made over 3 times you money in a year. Hell, every two times over would sledge hammer the stock market average. And every year you can raise rent.
Of course, this leaves the matter of finding a deal like this to your resourcefulness…But if a kid that grew up in poverty can, you sure as hell can.
As Tony Robbins said, the problem with being a successful person is not having the resources, it’s having the RESOURCEFULNESS.
- Lend $30,000 at 10% interest
Now okay, this is for a person heavy on the savings side, but it’s feasible because I have given flat loans secured by real estate, one of them being for a commercial warehouse. And when I mean flat, I’m talking a straight shot, not annualized. That means I give you money for X, you perform Y, and I get my money back on Z…e.g. say you lend $30,000 to resolve an overdue mechanic’s lien, and you sign off on getting the contractors paid, and you get your money back within 30 days or any agreed upon time based on known expected cash flow such as tenant rent (that must go directly to your account). Of course, get a lawyer involved in this particular type of move, you don’t want to be caught in a bind.For the right commercial or even residential investment property owner, doing this can be their last lifeline to be saved. And they typically won’t qualify for a bank loan because you how strict loans are now.I have done this and made thousands from it. Heck, I even get loans from capital partners myself to fund investments. It allows for scale as opposed to doing one project at a time. You and I are trying to build an empire after all.
There you go, three ways to make $3,000.
STOP READING, GO DO. And welcome to the Alpha Club.