Zack childress real estate many potential real estate investors face a depressing situation when a deal couldn’t be afforded owing to poor financial status.Zack Childress automated wholesaling system allows the new investors to co-wholesale without using credit or cash.
Zack Childress reviews suggest some strategies where you can purchase properties in different ways.
- Down Payment
- Personal Property
- Exchange Skill Sets
Borrowing the down payment is the simplest way to purchase a property without using your money. In order to do so, you must find a suitable lender who offers cash with low interest rate or home equity or LOC (line of credit) which includes tax benefits of mortgage. You can also lend from real estate brokers to make your down payment.
Making use of seller’s financing partially for purchasing your property, it would be great if it has low interest rate. As a result, the buyer is entitled to have ownership in his name for paying the mortgage of the seller. The other way is to combine the mortgages, i.e. if you own a property already and you are availing mortgage, and you can take second mortgage for the currently purchased property.
Many buyers aren’t aware that the buyer who resides in a rental property which is on lease period is eligible to buy the same property when there is a clause in the agreement stating that a particular sum of money has to be paid by both seller and buyer for the use of the property. The lessor (buyer) can purchase the property at the end of the lease period with a fixed price. The rental payments are the source of funding for the property purchase. Either whole or some portion of rental payment is used according to seller’s choice.
The buyer is allowed to request the seller to pay the down payments in instalment basis or a balloon payment at the end of the year. You can also take charge of paying the seller debts instead of the down payment for your property or you can opt to pay higher price for the property in instalment and no down payment.
The buyer may not be affluent at a point of time, but owns few properties like car, boats, furniture that can be exchanged for down payment.
Exchange skill sets
If the buyer has potential point of contact like lawyers, accountants etc are professionals needed mutually by both seller and buyer. Instead of making down payment, the buyer can exchange the skill sets of these professionals. So the seller will not be paying any money for these professionals.
You can take help of financially sound partner; ensure that no mess happens as there would be many people in a deal. In return, you can make the deal for both i.e. the property ownership is shared by both of you.
There are many types of scams going around, for e.g. when the seller exorbitantly charges you with a down payment and call it closing cost or some fees.
To prevent from such scams, visit Zack Childress quick REI cash system where he has described about the strategies for buying real estate free.