Is buying a house for $10 really possible?
Need to know the answer to this question? Watch this short video and learn from Lou different strategies on becoming a successful Street Smart Real Estate Investor
For more valuable information click on this link and watch the complete episode: https://youtu.be/8x6wIBte_rM – “Why Real Estate Beats Bitcoin!”
If you are JUST getting started in real estate investing, you NEED to attend my ONE-DAY virtual training. I teach it LIVE over ZOOM, and it’s only $1 (yes, one dollar) for SIX HOURS of solid how-to training! https://www.wealthbuilderworkshop.online
If you’re ready for a more in-depth experience, then you owe it to yourself to investigate my THREE- DAY Millionaire Jumpstart Event. I host it four times a year in various locations, and you can attend LIVE and in person. I’m your coach all three days. Find out more at https://millionairejumpstart.com/
You’ll discover how to start investing in real estate (or do it easier and more profitably) at either Wealth Builder Workshop or Millionaire Jumpstart.
Here is an overview of my proven and practical approach to investing in real estate.
* Money Making Secret #1: Getting Motivated Sellers to Call You! No more calling unmotivated sellers and getting rejected more times than a geek for the high school prom!
I’ll show you how for over 28 years, I’ve been able to get deals brought to me and motivated sellers hunting me down to give me their house.
* Money Making Secret #2: The Art of Structuring Deals! I’ve been doing this for 40 years and I love to share how I get sellers to give me the house, a check, and even a jet ski or two.
* Money Making Secret #3: Negotiating Secrets Revealed! I love to negotiate, just ask Matt, one of my hand-picked coaches. We recently went to an estate sale and he witnessed me structuring a deal to buy the house and contents right there on the spot.
* Money Making Secret #4: Trusts Simplified! A little confused on this entire Trust thing? Why to do it? How to do “Subject-To” safely? I’m going to show you my new fundamentals of Trusts training that will simplify the concept of Trusts, so a 9-year-old child can understand it.
* Money Making Secret #5: Develop a Plan for Success in Real Estate. The wealthiest man ever to walk the earth left clues for us on how he amassed his great wealth and kept it.
How to Help People While Helping Yourself – Become a Certified Affordable Housing Provider™
Create Your 10 Million Dollar Retirement Plan – specific formula revealed
Learn Hidden Profits Available in ANY Deal – worth thousand$
How to Take Over the Seller’s Loan with NO Money
How to Have the Seller PAY YOU to Buy Their Home – no kidding!
Buying Without Bank Loans – over forty years and never one bank loan!!
Easy Ways to LEGALLY Raise Big Money for Your Deals
Renovations – Quick Ways to Safely Make Huge Cash Now
Money-Making Management Secrets from a 40 year veteran who manages over 150 now
Accelerating Your Cash Flow – Add built-in “Profit Centers” – extra hundred$ per month
Case Studies: Secrets of How They Were Found, Negotiated and Sold
How to Protect Your Deal from Someone Else Stealing it
Legally Pay ZERO Taxes on Your Real Estate Portfolio – simple structure worth thousands
Having Tenants Leave Your Property in Better Condition than When You Gave It to Them
Why Land and Personal Property Trusts are the Best Privacy and Asset Protection
Benefits of Trusts You Cannot Get With ANY Other Entity
The Due-on-Sale Clause – What it is and How to Avoid it Legally And MUCH More
Need help deciding which power-packed “one-of-a-kind” training on making money in real estate investing is best for you! Call 1-800-578-8580 or visit us online at https://www.streetsmartinvestor.com
Listen to our Podcast:
Lou. I remember you saying once that there were ways to buy houses for $10. Is that really possible?
That’s a great question. In our world, what happens is that you talk with sellers, you get the details about their existing financing. You discover that by the time you get through all the costs to sell the property, you actually end up with a number. Once you take into account the mortgage on the property, you actually end up with a negative number. And if it’s a negative number, that’s an opportunity to buy the house for what we call $10, which is consideration on a contract. And in many cases, sellers will actually pay you to buy their house. Now, why would they do that because of the numbers? And if you don’t believe it’s possible for a seller to pay you to buy their house, just call any title company that you know in your local area and ask them the question. Do you ever see people come to a closing with a check where they actually have to pay to sell their house?
And what you’ll hear is only all the time. So as a result of that issue coming up for people, we know that when we sit down with a seller and counsel with them and educate them on the costs to sell. Generally speaking, when they see those numbers, they’re going to accept those numbers and know that they’re real. And the same is true. When you get and take into account an existing mortgage on the property, then buying it for $10 is absolutely possible. Now, the other possibility also is bad paperwork. So sometimes banks played some games and some shenanigans with a lot of people’s homes. And when we look at the paperwork, we actually discover that the paperwork is bad. And so that can create an opportunity for a settlement at a later date. And sometimes people don’t have the time, energy or money to defend on a lawsuit like that.
So they will go ahead and sell you. They’re upside down house, the bank loan 700,000, but it’s only worth 500,000. So there’s a big loss in there for somebody. And people sometimes are ready to go on with their lives. They don’t want to deal with this anymore. If you’ll take it on, that’s another example of a $10 house where you take it on and now you negotiate, you take on their litigation rights, they actually sell you their litigation rights. And then you litigate with the bank to determine a number that will be agreeable to both of you. And then that process can take years. In fact, and a lot of sellers just say, “Look, if you’ll take this off my hands for $10, I’ll be happy with that.” So, there’s another example of a $10 house.