I think it sounds too good to be true. How can a person with bad credit buy a home with no money down and then even get money back at closing?! Before I waste my money on it I wanted to know if it's worth it and how does it work? Thanks
2007-03-19 19:00:37 · 3 answers · asked by AL IS ON VACATION AND HAS NO PIC 5 in Business & Finance ➔ Renting & Real Estate
It works for HIM..he is making LOTS of money SELLING HIS COURSE to suckers .. don't waste your money .. if you have bad credit etc. you are NOT going to be able to get a bunch of loans to buy real estate ... all you are going to do is dig yourself into a deeper hole! If you want to buy real estate then SAVE your money and save enough to put a downpayment down and buy a house the normal way..
2007-03-19 19:17:14 · answer #1 · answered by MeInUSA 5 · 1⤊ 0⤋
Sheets has a number of strategies and they do work.
I recommend you buy his program and buy every other program you can get ahold of. Education is the key. Just don't put all your hopes on one strategy and don't complain if you don't make your first million in 30 days.
How can a person buy a home with bad credit? People do it everyday.
You can get money back at closing but you have to have favorable conditions for it to happen and usually has to do with assigning a contract to another person for a higher price than what you put it under contract for.
For example, you find a home for $100,000 and do so knowing someone else who will buy it for $110,000. you assign that contract to the new buyer and walk away from escrow with $10,000 without ever owning the home. You sell the contract to the new buyer. This works in new home tracts that are over-bought.
You can also find people who are called serious "don't wanters" they absolutely must sell the house. This occurs with things like divorces or job loss/moves. These people will sell the home for a steep discount and/or give a buyer great terms.
They do work. I recommend you learn everything you can from everyone that you can.
2007-03-19 19:16:23 · answer #2 · answered by Tadow 4 · 0⤊ 0⤋
my guess is that you can find a way to riskily get credit but that if you don't put in a lot of effort you'll get screwed.
as with all things it's not the thought that counts, it's the effort.
2007-03-19 19:05:11 · answer #3 · answered by imnotachickenyoureaturkey 5 · 0⤊ 0⤋