Zero Down Investing: in 6 articles

Article 2

How To Buy With $0 Down Payment - The Basics!

"Preparing To Make A Zero Down Offer!"

Part Two In A Series   

by  

Joe Crump

I'm going to focus on the Seller of a hypothetical property 
you have found and the offer that you are going to make. You 
want to write it so it has a reasonable chance of being 
accepted.

Never offer more than you can afford to pay.

Don't get caught up in the idea that you are going to make
it work no matter what. Let's face it, some deals just
won't work and you have to let them go.

Ultimately, the person who gets the best deal is the
person who is the least motivated. You have lots of
potential homes to purchase... the Seller only has one
home to sell.

Work up the numbers.

First, you need to know what the current market value of
the property is.

Do this by going to your title company (you can pick any
one you want, just look them up in the yellow pages).
Title companies have access to comparable sales of
homes in the neighborhood.

Look for homes that are very similar to the one you are
preparing to purchase.

Value the home you are going to buy based on how it
compares to the homes that have sold before it.
Only use comps that are twelve months old or less. 

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There are two types of real estate we want to deal
with here. 

The first type, is property that you can purchase for
cash, for at least 15% under market value. You need to
sell these contracts to an investor to complete the deal.

Every investor out there is looking for these
properties and will gladly pay a fee to get them.

The second type of deal is purchased for full market 
value by taking title to the property "subject to the 
existing loans."

I explain in detail how to make an offer on this type of 
property in my book. It is one of the easiest ways to 
purchase property with nothing down and no credit check.

 go to Article 3