Protect Your Wealth

Ep. 107 How To BUY a Property With ZERO Credit Score!


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Learn how to buy your first investment property with zero credit score in this informative video! Even if your credit score is below 600, you can still buy properties using these top three methods.


1️⃣ The first method is the seller carry back, where the seller acts as the bank and finances 90% of the property while you put down 10%. You can negotiate every term of the loan, including the interest rate, making it a win-win situation for both the seller and the buyer.


2️⃣ The second method is called the subject-to, where you take over the seller's payments and the loan is still under their name, but the property title is under your name.


3️⃣ Lastly, the lease option method allows you to rent the property for a set amount of time and then buy it for a predetermined price. These methods are perfect for those with no financial backing, credit, income, or W2, so you can finally invest in a property and start building your portfolio.


Use these methods to buy a property with zero credit score today!


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Transcription: " Here's how you can buy your first investment property. Even if your credit score is below 600 you can buy properties with zero credit score using these three methods that I'm going to show you you can use any of these three. But I want to show you the top three methods that I've personally used and that my friends and clients have used to buy their first property even when they have no financial backing, no credit, no W two, no income. The first method I want to talk to you about is called the seller carry back or short for seller carry. This means that when the seller sells his or her property to you, that seller will now act as the bank when he or she sells that property to you. So let's say the property sells for $500,000 and you have only $50,000.00 credit and no income to show for it. You can put down that $50,000 or 10% down and the seller can finance the other 90% of that property when he or she sells the property to you. So this means that the we will get 50 grand up front. And then in escrow you'll come put an amendment through either your broker or through the escrow officer to basically create a note or a first trust deed, which is a lean a mortgage. And they can turn that into an X amount of mortgage payments a year, which is a monthly payment usually and let's say you get a loan for $450,000 in that note with the seller. The great thing about the seller carry back is that you can actually negotiate every single term of the loan. So no matter where rates are at today, if you negotiate a seller carry back with a seller, you can negotiate any rate you want even 2% 1% or even know rate.

I mean I have a client who purchased a $2 million property here in san Diego and the seller was okay with a 0% interest and principal payments each month the seller sold the property for two million. My client put $400,000 down and the seller carry back a loan of 1.6 million. And he or she was nice enough to say, you know what if you could Pay down the note every single month at least by $4,000 a month. You can keep this loan for as long as you want. And as long as I get my check in the mail, I'm happy. The best way to negotiate a seller carry back for you or your partner is to explain all the benefits..."

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Protect Your WealthBy Jason Lee

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