On this podcast episode I talk about how to buy houses with no money down.
This strategy works really well when there is not enough equity in the deal for you to make a cash offer to buy the house. You will find that many of your competitors and wholesalers will walk away from these deals because they don’t know how to structure them. This will give
you a competitive edge if you do!
The biggest benefit of this strategy is that you can buy as many houses as you want since you are not coming out of pocket on the purchase of the house (other than closing costs). This strategy allows you to buy a lot of real estate in a short amount of time and is how I got started investing in real estate. My first three houses were purchased by assuming the existing mortgages and most of the houses
that I purchased between 2003 and 2006 were hurricane damaged houses that were purchased by assuming the existing mortgage.
On this episode, I talk about specific details on how to assume a mortgage, assumptions of mortgages, due on sales clauses, land trusts and lots of good meat and potatoes information related to buying houses by taking over an existing mortgage. Disclaimer: I am NOT an attorney, CPA, Tax or Financial Advisor, and nothing on this podcast
should be construed as financial, tax, or legal advice. Please consult with YOUR attorney as this is a complicated area and you need to understand the consequences of the due on sale clause.
If you want to buy houses with no money down then learning how to buy houses with the existing financing in place (like the current mortgage) is the best way to do it.