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If you are a creative financing realtor or investor, then you get great answers to questions here!

Website: http://REIEntrepreneur.com
Members: 26
Latest Activity: Feb 6, 2011

How can you buy without banks or credit?

Simply put:

"Buy" is a misnomer.

I control or profit with:
* Option to Purchase Agreements - Then Assign for a Fee
* Lease Option, then Assign for a fee
* Lease Option and sublease - suboption (sandwich)
* Subject 2 Existing Financing and Land Trusts - no bank financing needed.
* Land Contracts - Installment Sales - no bank financing needed.
* Seller Carryback Equity - Wrap Around Mortgages - AITDs - no bank financing needed.
* Private Lender New First Mortgage - no bank financing needed.
* Joint Venture Purchase - no bank financing needed.

Email for more info on these tools to profit in 2009.

(Note: TX and some other states frown on residential lease options and installment sales, so we use wraps.)

Discussion Forum

Buy Without Banks or Credit

Started by Brian Gibbons May 10, 2009.

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Comment by Dia Cha on October 26, 2010 at 3:05pm: We are a team of private lenders who can give you loan even with ZERO credit. Our hard money loans don’t bother nor burden ONLY.

Let's Build Success Together!

Comment by QUIROS on October 24, 2010 at 5:51pm: Bonjour , From Bordeaux
Welcome, Bienvenue
Thank You for getting linked to You here.
If I can be of any assistance to You, please feel free to let me know.
Best Regards
Jose Louis QUIROS
http://worldluxuryvillas.webs.com/
http://fr.linkedin.com/in/aquijosequiros .
http://twitter.com/quirosjose
http://twitter.com/TopLuxVillas
http://www.youtube.com/user/MrQUIROSjose English Version
http://www.youtube.com/user/infoVillas French Version

Comment by Gustavo Martín Ordoqui Aramburú on May 20, 2010 at 8:34pm: Important group, is a pleasure for me
Jean Valjean Inversiones
http://www.playas-uruguay.es.tl/

Comment by alaskan success inc on January 19, 2010 at 7:58pm: subject to: is a great way to help with
1.)
save the owner of the home.
1a- save the credit of this person.

2.)
the lease to own options gets to be happy moving in.....
3.)
investor(me) is happy I set the deal up, and everyone wins, here

Comment by Brian Gibbons on July 24, 2009 at 9:52pm: Thanks, Melody:

Lease Options are important. I sell my properties on lease option, or rather "lease with contract for option to purchase."

This is like a "contract for deed" where the lessee must complete the lease before the option to purchase is "earned". I like 36 months leases.

Buying with lease options (sandwiches) where you are subleasing and suboptioning do have risk if the tenant defaults in paying you.

If you are buying on lease option for yourself to live in, you can negotiate in this market 100% of rent applied to the purchase price. If you are worried about the property appraising at a certain price at the time of getting financing, you can have the exercise price (sales price) tied to a new future appraisal. The banks are going to need a good fair sales price to fund any new mortgage.

Welcome to the Creative Financign Group!

Best Wishes,

Brian Gibbons

Comment by Melody Scott on June 26, 2009 at 9:37pm: Great group to start, I purchase or control with "creative" financing techniques. Your list left out lease-optioning on both ends of the deal, something I'm just now beginning to explore but have not yet done. Hope to learn some new tips from this group, looking forward to hearing more!