All Forum Posts by: Zachary S.

Hello, thank you for your responses. Let me spell out the deal so there's no confusion.

1. Owner selling 8 unit building (condos) can be sold separately. Seller financing available with $100,000 down.

2. I (Buyer) say ok I'll give you the terms but the deal is contingent on me selling one to two units, owner agrees.

3. I (buyer) hire realtor for 30 to 45 days to market and sell properties.

4. Final. If all goes well, properties sell, down payment money goes to owner and he seller finances the rest. I just got a 6 units without having to use any of my own money.

I don't care if I'm still paying the owner for the properties I sold. I just need a good deal that fits my needs, which at this time is being no money down.

Let me know your thoughts.

I have interest in acquiring an 8 unit building which is an approved condo structure and can be sold individually. I would like to use an old but effective
technique to purchase this property. I want to convenience the owner to sell with owner financing, as most people do nowadays I know he's going to want a substantial down payment.

I am going to put the property under contract but make the deal contingent on me selling one to two of the units for the down payment. I'd like to put a time limit of 30 to 45 days and if they can't be sold the deal becomes null and void.

Since the property isn't located in the state of which I live, I'm planning on using a realtor. I'm not sure if a realtor would sign only a 30 to 45 day contract.

I would like to know if anyone on here has made any similar deals and what their success was or if you can offer up suggestions to make this deal work.

Just as a side note, I'm using this method as I'm a younger investor so I don't have a fortune and I still need to build my credit. This peaks my interest as I think it can make this a win-win for everyone involved.

Hello,

I am in the process of searching for private or hard money and found two that I just wanted to see if anyone's heard of or done business with.

Cogo Capital and EconoHomes

Let me know.

Zachary (The Frontier Guy)

Hello Simon,

That is something that I am considering. Thank you for the nice thoughts.

Zack

Hello Ned,

Thank you for the advice. I guess I forgot to mention I do have some experience as I did a few deals along with my father.

I see you live in Baltimore. I'm from there myself, Whereabouts are you located?

Hello all BPers,

My name is Zachary and I am 20 years old. I am going to be brutally honest.
I've never been comfortable living inside the "box" that society puts us in.
Unlike all of my friends I have never gotten a part time job as a cashier or any
simple minded profession. There's a down side to that too but I digress. My point being I want to own property and generate passive income, I don't want to sit in an office until 9 to 5 worrying about how I'm going to pay the bills.

To make this happen I need a starting point. Like I said I am 20 years old,
unemployed, and no credit. I want to know if anyone on here has some
suggestions on how I can acquire some real estate. I am aware of wholesaling
but not really all that thrilled with the idea.

Does anyone who some no money down strategies or ways that I could go about getting some rental property.

Any thoughts or opinions would be greatly appreciated.

Sincerely,
Zachary (The Frontier Guy)