Real estate deal on TV
Question: I was watching TV the other day, this guy was telling about being able to buy real estate with no credit check, no money down, and how to get rich buying, How could this be legit, there is no way to buy a home if you have any kind of bad credit ! Does any one know anything about this? If it was that easy, every realtor would be buying up everything !
Answer: There are a few deals like this still floating around. It is legal and depending on your financial resources you can do it in most U.S. counties. I have done it for clients myself and it takes time and work like most good things. The reason it is becoming rare are due to law changes and abuse. I recomend you buy the course and read, follow up ask many questions and trust in your commitment to excellence. Yes George, it is possible. It’s just not possible to do with every property that is out there. What he’s not telling you is that all of these techniques require you to locate a seller who is motivated to do a deal with you to get the house funded and sold quickly. It might require him to carry paper, sell some note payments at closing, give you an option to buy in exchange for some equity on the back end, etc., etc.,
There are dozens of ways a no-down or bad-credit deal can be swung, I do them every month. You just have to know how to actively look for and identify a deal that can be done this way. Keep in mind that, as he’s parading out his smiling course purchasers with glowing testimonials about how their net worth grew in two months using the techniques he’s talking about, that little “bug” is down at the bottom of your screen reminding you that, “These results are exceptional. Your results may differ from those shown here.” It’s not uncommon to see these same people, six months later, having their “increased net worth” go under the gavel at a foreclosure auction. People get bit when their actions take them where their experience base doesn’t know what things are likely to bite them or from where the bite can come!
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