I 'm a newbie. I see ads in the paper for investors dream or handyman special owner financing. My question is how do you approach them or make an offer when you don’t have any money? I may have money for a down payment but that’s about all. No money to reahab. I guess what I’m asking here is–Isn’t there a way that I can put my down payment on an investment property with owner financing. 2. turn around and sell it (hopefully before the first payment is due) to another investor while I make money from the difference.
whew! I hope I’m making some kind of sense… :
u put a contract on the property, give $10 consideration to make it legal and tie up the property for 3 mos if u want. whatever ur contract states. then u find an investor that has $ or wants a rehab project and assign your contract to them for a decent fee. then u do it again on another one
if there is a nice margin, like 30-40% equity u should have very little problem assigning the contract or flipping the property. yes, u can buy it, find ur seller, and then sell it. u should be able to do it 60 days to make a nice $.