14 Real Estate Invest
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No Risk Real Estate Deals – No Money Or Credit Required
By Leslie Collins
Wondering how to break into real estate but you have no cash or credit? The good news is many successful investors got into the biz just like that….no money or credit and are making fortunes now. Learning the art of “Contract Assignment” allows you to make profitable real estate deals without using any of your own money.
The market is flooded with properties with profit potential in the form of pre-forclosures, abandoned houses (ugly houses), and FSBO homes. These are all perfect opportunities for you to get started making money doing contract assignments.
Contract Assigment Basics
You work with a seller who is motivated to sell his home. You negotiate a deal and have him sign an agreement that locks in the agreed on price…let’s say $100,000. Next you will search for a buyer that will be willing to purchase the “contract” you just signed for $105,000. Basically you transferred a bundle of rights to purchase the home to a 3rd party for a $5000 fee.
Finding Motivated Sellers
Of course you will need to find motivated sellers willing to get rid of properties at a discount. The good news is there are plenty of motivated sellers, especially now. The list includes:
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* Property owners that are in pre-foreclosure that needs to sell at a discount or risk foreclosure;
* Out of town property owners who don’t have time to keep up with the demands of maintaining a property;
* For sale by owner (FSBO) properties that have been on the market for ever. Many time s the owners are extremely motivated to sell.
Minimum Risk with Strong Profit Potential
Contract assignments are the best way to break into the business of real estate, because the risk factor is the lowest. You never take title to the home, never worry about holding or repair costs either. You are the ultimate “middleman”. Typical profit is about $3000 – $5000 per deal.
Final Word
So if you are looking for a way to become financially independent, and be your own boss real estate contract assignments are your foot in the door. For an extremely thorough step-by-step guide on how this works (including all the forms you need) see the link below.
Looking to earn money in real estate but don’t know where to start? Learn step by step how to find, negotiate and profit via contract assignments… the RIGHT WAY – Visit: Contract assignment