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The following article was published in our article directory on November 23, 2019.
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7-Not So Complicated Ways T Creatively Buy Real Estate With Little Money, Risk!

Article Category: Advice

Author Name: William Hawthorn

After buying and selling over 200 houses personally, and helping about that many private coaching clients do deals they way I do them; I am more than convinced the way we buy and sell real estate in today's society is absolutely treacherous and reckless!

And if you think I am off my rocker, then by the end of this article I will more than likely changed your mind.

The only way I could pump out so many deals over the course of my 15+ years in the business - is formulas. See everything I do has to be simple. If any complication surrounded me, it just slowed me down.

So very early in my career (when trying to figure things out), I started developing "rules of thumb" so I didn't need to remember a lot of stuff. If I did it the same way each time that meant when I went back to it later on, I could always figure it out. I noticed this made my deal flow and control a lot higher than most.

More to the point ... when sitting in 12-15 houses per week making offers nose-to-nose/toe-to-toe, I needed to be organized and brief. I didn't have time for the "tire-kicker sellers." So I needed to calculate the highest purchase price, the most I could pay monthly, how long I could stay in the deal, the amount of down payment, repairs, marketing, etc.

See what I mean. It could get crazy. Even tougher, I wanted to make the deal while I was there. I didn't want to go off and do a bunch of "due diligence" or think about it too long. If I had someone ready to sell, I wanted to close as soon as possible.

Then one day I decided I couldn't do it all myself anymore. So I hired an acquisition manager to get the load off my back. And that's when it all happened. He started sitting in houses listening to me. We would leave the house we just made an offer on and he would ask question after question. Wanting to know how I came up with my numbers so quickly ... often from my head (no calculator).

That's when I created this little table to reference when making offers:

#1. SLOT Deal (Sandwich Lease option Transfer) I use when the seller has 0% equity. Most common Investor's throw these deals in the trash; thinking they can't make money. But I started doing these deals and making $5K to $20K within a 30-day period of finding them. Most investor's throw these deals in the trash. But I earn healthy profits from these deals because I know what to do with them.

#2. Option Deal is when I was nervous about acquiring the deal and all the liabilities. As long as I felt there was 10% equity for my profit, I would write this one page document, give the seller $10 for the "rights" to sell it. Then go find a buyer to close and pay the seller. I never owned it, but controlled it to make my money.

#3. Rent-To-Own is probably the most under utilized way to make money in real estate in today's current economy. As long as I had about 15% in equity and a potential to make between $200 and $500+ each month, I would rent-to-own from my seller. Then sub-lease it to my buyer and make bank. Best part ... the way my lease is written, the buyer is responsible for all the repairs, maintenance, and up-keep while living in the house.

Of course because my potential buyer was responsible for the monthly payments, repairs, and all the maintenance, I could promise this to my seller with confidence. By the way ... I did a LOT of these once I figured out that about 81% of folks looking for real estate don't qualify for a mortgage. So rent-to-own is how they can live that dream of owning a home!

#4. Getting the deed is the strategy when I had about 20% equity. Here I would "assume" the loan. Now don't get in a huff. I know EVERYONE says that's illegal and you can't do that anymore. Well, if you know how to do it, it is Simple Simon. And I have done more than I can count. This is not the place to teach you how, but I will give you a hint: We put the house in a real estate trust, and then control the trust. BIGGEST hidden secret in the real estate industry!

And it is as legal as hell. You know why I know this ... because all the politicians do this with their personal real estate transactions. They hide everything behind these very specially written documents. And once you get your paws on these documents, well, it's a Multimillion-dollar strategy for you to use.

#5. Rehab retailing is a strategy that reality TV has hyped up and made it glorified. So there isn't much to say about this except: if you pay more than 70% of its fixed-up value minus the repairs, you are paying WAY TOO much.

These deals are where you need to start borrowing money to purchase and repair. The first four deals we were asking the seller to wait a little time while we pay monthly to cover their expenses until we can pay them off. Then find a buyer that would pay the monthly expenses until they get qualified for the mortgage and pay the seller and me off.

Anyway, I don't need to talk about this "fix & flip" strategy. Like I said, reality TV has educated America on this. And for the most part it is all true, except the numbers. They NEVER add the holding cost, closing cost, and other misc. cost while doing the process.

#6. Wholesaling! Gawd do I hate this over hyped strategy taught by goo roo's who want to make a fortune off the promise to make $5K to $10K buying houses at a deep discount and assigning the contract for a fee.

However, when making my offers, if I have it bought for 60% of its fixed up value (40% equity), then I might sell it to a wholesaler? Often I will do the repair myself, and make bank. This strategy is pushed down the throats of broke and uneducated real estate investors (or folks who have trouble learning) and naïve want-to-be investor's. Only because it is simple to learn.

#7. Owner financing, my favorite. Why? Because this is the only place I can buy a $240K house for $260K and sell it for $260K and make $84K!! Yup, you read that correctly. When an owner doesn't have a mortgage and owns the house out right, we can do some amazing financing that makes every tons of dough.

Again, this article is not the place to teach you how this works. But if you go to http://flippinghousesforrookies.com/freestuff you can watch my free video's on how I structure all these deals.

Last parting words of advice to you ...

DO NOT chase real estate deals. The first part of my career as a Creative Real Estate Investor I wasted WAY TOO much time chasing what I thought was good deals.

After a while I realized the only way I could make my fortune in real estate was to talk to and make offers to Motivated Sellers. Without out this your career could seem very hard and impossible to succeed.

So it took me some time to realize I was actually in the marketing business and the contract business not the real estate business.

Deal hunting for motivated sellers is key to turning houses into cash. And the money is in the contracts, not the real estate. After all, that's how banks make a fortune, right?

Keywords: creative real estate investing, rent-to-own, subject to, lease options, owner financing, seller carry back, work from home, no money down real estate

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