Contract clauses were really a big help - principal only mortgage - that is NO INTEREST, installment down payments, money back, right of possession, many subject to offers, delayed settlement with possession - contract candy ( also known as buyer incentives) prime rate financing - money back from seller - discounting existing current and defaulted mortgages, early pay-off discounts, substitution of collateral (my favorite one)When there is NO equity - I offer --- Contract of sale (on a skinny), subject to existing financing, immediate possession, right to assign and release of liability -- This system works well when house lacks equity.

Get the real skinny on the specific property and its problems before they become your problems.

Hey gang'Got a comment and opinion on PEXIve been a licensed plumber with a Calif CSLB license for 30 yearsHeres the skinny on PEXIts plastic [duh] hence your tenant can drill a hole in it when putting Grandmas picture up in the hallway,,,,Rats can hear water running in it and the can smell,,,hence,,they eat it,,,It doesnt lend itself to insulation,,,,,It cannot be used as and electrical groundA proper copper repipe will last for generationsI wouldnt put PEX in my mother in laws house,,,,,,JMHODave DoyleLos Angeles

Here's the skinny - Bought a fixer upper 1 yr ago for $60k.

don't let that happen.I want my clients to learn the basic first; Power prospecting and negotiating, if you can't negotiate you can't do deals, in my opinion this the best way to have your way with sellers, I go into details of expired listings, For sale by owners, how to do second stage and sometime 3rd stage negotiation, how to make offers and how to make offer often.Creative financing is a must to learn, lease option Control and Roll and hybrid offers, nothing down, delayed settlements, no money in the deal using "Check Funds", seller financing, how to ask for it, how to get sellers to agree, no interest mortgage, how to offer more and create more equity and ease assignments.Most importantly "contracts" I use what I call a "skinny contract offer" this is a one page document that has all the creative clauses needed to CONTROL the property with a small down payment.I want my clients to understand that it is easy to find and control properties, but a needed skill to assign it, get to the settlement table and collect your fee.

All you have to figure out is how much of that equity you can negotiate for yourself.What I do after I control a property (after making full disclosures on a skinny contract), is sell after three weeks of marketing using the auction method of sale.  

Yea here is the skinny on duplexes.You need to know the condition of the property & the market rentability of the units themselves.

you take over their mortgage on an informal basis.control the building with a skinny contract offer subject to a private or public treatise (public auction), assign your contract for a profit before you have to go to settlementseller refinances, keeps the cash and you joint venture with seller to share the profits after you do your thing to the building (win-win for all)package your deal and present it to relative (with money), your dentist, funeral director, doctor or local bookie - get your private financing - heck with conventional lenders - most are predators anyhowoffer a "hybrid" contract - that is where you offer one price but give seller a percentage of your net profit when building is sold.ask for owner financing that is secured by other properties you own - this way you have anpotential free and clear property that you can pull cash from - and keepoffer the seller what they may want, a car, truck or other material items that are easy to finance (same as owner financing, but easier)Can you think of other ways to accomplish a profitable situation when buying - we'd love to hear themGood luck ---- Charles (he loves votes)

The last skinny lot on 35th went for 125K off market and it is north of Prescott. 

Some employers will be very direct and tell you the straight skinny on a worker....others are strictly by the HR book of name and duration of employment.