New member & LOST

[Joseph Stein]

I was talking to another entrepreneur, they refered me to this website and said I can buy a house with $0... I continued to say that's impossible.

So I looked around did a search and still nothing has shown up, told him nothing showed up, he called me retarded and now isn't talking to me.

Am I missing something? Is it really possible to buy a house with $0? It doesn't make any sense to me, wouldn't everyone be doing it...

[Matt T.]

Originally posted by Joseph Stein:

why would anyone want to give away their property for free, even if they died there family can benefit from it

I think there is some confusion with the definition of buying a house "with $0". That doesn't mean they are giving you the house. That generally means you have $0 out of pocket initially.

An easy example would be someone that owns a property outright and agrees to sell to you on contract (they carry the financing). While you may have "$0" out of pocket initially, you will still have maintenance, payments, insurance, management fees, taxes and the list goes on. Nothing is truly free.

There are many other ways to structure creative financing and I think those are the methods to which the earlier posters were referring. There are pros and cons to all of them.