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 one 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 16. Now these are all buying tips that I've
been given through this series. And this one is, "When getting owner
financing, ask for first right of refusal if the mortgage is sold". So one
of my favorite ways to buy property is to have the seller be the bank. Write
that down. The seller is the bank. Now when the seller is the bank, it's a really
cool thing because of course you didn't have to go to the bank. You didn't have
to qualify for a loan. You save all the points. You save the closing costs. You
save all of the pain and suffering of qualifying for that loan in the first
place. Very, very powerful thing to master.
real estate investors like you to win, close more deals and accelerate your
cash flow. Today's tip is number 16. Now these are all buying tips that I've
been given through this series. And this one is, "When getting owner
financing, ask for first right of refusal if the mortgage is sold". So one
of my favorite ways to buy property is to have the seller be the bank. Write
that down. The seller is the bank. Now when the seller is the bank, it's a really
cool thing because of course you didn't have to go to the bank. You didn't have
to qualify for a loan. You save all the points. You save the closing costs. You
save all of the pain and suffering of qualifying for that loan in the first
place. Very, very powerful thing to master.
And I mastered owner financing decades ago. And I share
with my clients how to do that. Share that with my students, how to create an
amazing business without going to banks and without qualifying for loans. It's
one of my favorite ways to buy properties. Well, when you get a seller to carry
back financing, then they're getting a mortgage and you're paying a note to
that seller. Well, that has value. And they could sell that to somebody else.
If they were to sell it to somebody else, if it has a clause in there that says
the payor, that's you, gets a first right of refusal to purchase that note,
because many times when those notes are sold, they're sold at a discount. So
why not you receive that discount? Now, if you've got the funds to do it,
great, you go ahead and buy the note. If you don't have the funds to do it,
great. Let them sell it to somebody else and you keep on making your payments
just like you agreed to do.
with my clients how to do that. Share that with my students, how to create an
amazing business without going to banks and without qualifying for loans. It's
one of my favorite ways to buy properties. Well, when you get a seller to carry
back financing, then they're getting a mortgage and you're paying a note to
that seller. Well, that has value. And they could sell that to somebody else.
If they were to sell it to somebody else, if it has a clause in there that says
the payor, that's you, gets a first right of refusal to purchase that note,
because many times when those notes are sold, they're sold at a discount. So
why not you receive that discount? Now, if you've got the funds to do it,
great, you go ahead and buy the note. If you don't have the funds to do it,
great. Let them sell it to somebody else and you keep on making your payments
just like you agreed to do.
I hope you love that tip. I hope this will help you. Hope it
will make it a lot of money. I know it has me. I'd love to share with you more
profitable free tips. And how can you get more? You simply, depending on where
you see this. Please like it. Please love it. Please comment on it. Please
subscribe. Please share it with your network too. Thank you for watching. I
hope to see you soon. Yeah, baby!
will make it a lot of money. I know it has me. I'd love to share with you more
profitable free tips. And how can you get more? You simply, depending on where
you see this. Please like it. Please love it. Please comment on it. Please
subscribe. Please share it with your network too. Thank you for watching. I
hope to see you soon. Yeah, baby!
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