In todays podcast, Mark explains how to execute No Money Down deals correctly.
The best way to acquire a No Money Down deal is through Purchase Lease Options. Its when a homeowner is not desperate for the money right now and allows the property to be rented out.
Make sure you know what you are doing because there is potential for huge mistake if you do not go about it the right way.
If the property has a mortgage then you want to know how many months/years they have left and most importantly check the terms and conditions of the mortgage to see if it is even permissable for you to do what your going to do
Mark mentions how vendor finance is a good strategy if you have the right connections. Again it is crucial to know if the property has any mortgage payments on them or not and failure to do so could result in it being a costly mistake.
Always build that new like and trust, before doing any deals or lending money from anyone make sure you are working with the correct people. Especially if anyone is joining you on the venture be due diligent and ask yourself if they are like minded as you.
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