Lou Brown has been buying, selling and holding property for 40 years and you are about to discover what a lot of so called gurus are missing.
* How to buy all the property you want without ever visiting a single bank or needing to qualify for a loan…
* How to have a buyer or renter before you even buy property…
* How to have them already pay you money before you sold them anything…
These are exactly the kinds of deals he does day in and day out. Most 'investors' are getting it wrong. It's not about the property, it's about the buyer. Buying right and buying cheap is what you'll do after you have the buyer.
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Hi! It's Lou Brown. With another of my 101 ways for real
estate investors like you to win, close more deals and accelerate your cash
flow. Today's tip is number 21. Have the seller refinance their home, get the
cash that they need and sell it to you subject to the existing loan. Now, how
does that work? Well, let's say that you go to the house, and in one of my
other tips I said that we go through a presentation with our sellers. When
we're going through the presentation, we do something called the cost to sell
worksheet. We get down to a final number. That shows the seller their equity.
Now let's say that our seller was insisting really did need cash. Okay, how can
we get them their cash and how can we stay out of the bank and not qualify for
a loan? I love that part.
estate investors like you to win, close more deals and accelerate your cash
flow. Today's tip is number 21. Have the seller refinance their home, get the
cash that they need and sell it to you subject to the existing loan. Now, how
does that work? Well, let's say that you go to the house, and in one of my
other tips I said that we go through a presentation with our sellers. When
we're going through the presentation, we do something called the cost to sell
worksheet. We get down to a final number. That shows the seller their equity.
Now let's say that our seller was insisting really did need cash. Okay, how can
we get them their cash and how can we stay out of the bank and not qualify for
a loan? I love that part.
I've never been to the bank. I've never qualified for a
loan on a single family or small multifamily property. Now if I can do it, I
know you can do it. So one of the ways I've done that in the past is the seller
says, let's say that their equity in that property is $20,000 okay, great. Then
we have the seller go ahead and apply for and get a new loan on the property.
They get the money from that new loan. Then we take over the payments on that
brand new loan. So we bought the property subject to the existing financing.
Now when we use that cost to sell worksheet, just know that property has not
been financed up to 100% of the property. It's been finance significantly lower
than the value of that property. So it's easy for them to be able to qualify
for a new loan because there's so much equity in the property and if they have
a good relationship with their local bank, they might be able to easily get
that loan.
loan on a single family or small multifamily property. Now if I can do it, I
know you can do it. So one of the ways I've done that in the past is the seller
says, let's say that their equity in that property is $20,000 okay, great. Then
we have the seller go ahead and apply for and get a new loan on the property.
They get the money from that new loan. Then we take over the payments on that
brand new loan. So we bought the property subject to the existing financing.
Now when we use that cost to sell worksheet, just know that property has not
been financed up to 100% of the property. It's been finance significantly lower
than the value of that property. So it's easy for them to be able to qualify
for a new loan because there's so much equity in the property and if they have
a good relationship with their local bank, they might be able to easily get
that loan.
Now there's other ways that we can do this and I love
sharing them with you. I've found 37 different ways that we can structure
transactions. I even have a full blown training on this called Millionaire Deal
Maker. It's a four day event. Just on the topic of creating deals and I need
you to master transaction engineering. Master deal structuring because that's
where the money is. One of the things I teach you is that you make your money
going in, you realize your money while you own it and when you sell it, but you
make your money going in. So you got to master structuring deals and Millionaire
Deal Maker is where we do that. Now you can learn more about that in my buying
volume one and and you can also learn that in Millionaire Deal Maker, the live
training. So if you're interested in the system that we use the printed system,
then you'd go to StreetSmartInvestor.com and look under tools. If you're
interested in the training, go to a MillionaireDealMaker.com.
sharing them with you. I've found 37 different ways that we can structure
transactions. I even have a full blown training on this called Millionaire Deal
Maker. It's a four day event. Just on the topic of creating deals and I need
you to master transaction engineering. Master deal structuring because that's
where the money is. One of the things I teach you is that you make your money
going in, you realize your money while you own it and when you sell it, but you
make your money going in. So you got to master structuring deals and Millionaire
Deal Maker is where we do that. Now you can learn more about that in my buying
volume one and and you can also learn that in Millionaire Deal Maker, the live
training. So if you're interested in the system that we use the printed system,
then you'd go to StreetSmartInvestor.com and look under tools. If you're
interested in the training, go to a MillionaireDealMaker.com.
I hope you enjoy this. I hope you'll use it. I know it
will make you money. And I'd love for you to share this with your friends. I
know that these profitable free tips will help you if you'd like to get more,
depending on where you're seeing this. Please like it. Please love it. Comment
on it. Subscribe. Share it with your network. Thank you for watching. And I
hope to see you soon. Yeah, baby!
will make you money. And I'd love for you to share this with your friends. I
know that these profitable free tips will help you if you'd like to get more,
depending on where you're seeing this. Please like it. Please love it. Comment
on it. Subscribe. Share it with your network. Thank you for watching. And I
hope to see you soon. Yeah, baby!
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