Thanks to all the morons who must have "deep" pockets, we now have to pay billions for a high speed rail system that will probably never be completed and do nothing for traffic congestion!

The last time I heard Bruce Norris speak, he said he purchased 6 houses the previous month, did nothing but paint/carpet and immediately sold them at new value and pocketed his profit.

Since you're new and you haven't had time to build up a capital expense fund (that $50 out of your operating expense), you need to come out of your own pocket to the tune of $1,550 to pay for the furnace.

Maytag or other vendors will lease the equipment to you for no out of pocket.

Hello Eddie and welcome to Bigger Pockets.

I'm new to Bigger Pockets so I completely missed the date of the original post.

only took about 5 minutes in the game to realize the no down people were full of bs, and this was gonna take alot of $ out of pocket. thanks

IF you have enough profit in your deal, you can offer owner financing to your new end buyer and then sell that seller financed mortgage at closing for the cash you need to 1) pay off your original buyer, and 2) to put a profit in your pocket.

Owner gave me a WD and I started making the payments of $368.41 on the 1st mortgage & $130.88 on the 2nd mortgage.I sold the property for $89,900 on contract for Deed in 60 days $3,500 down & $604.12 @7 1/2% for 30 years My Return: Paid -$998.58 Down payment +$3,500 = $2,501.42 (Half to owner) Payment =$499.29 * Contract Payment =$604.12 * Positive cash flow $104.83 (Half to owner) In my pocket $252.13 up front & $52.42 per month x30 year = $18,869Why Would A Seller Sell To Me - The seller was motivated I found his pain and provide him the best solution I actually increase his credit score I gave him $1,250 cash in pocket I make all his payments I send him a check once a year for $629You still can profit on deals that have no equity by knowing what the average rents are in the area and if they exceed the mortgage payment, you can great a positive cash flow.I did this deal on a property that had a retail value of 497k in California with an appraised value of 562k and the monthly payment was $3,426.31 and she owed 510k and the average rent's in the area pulled $4,750 and it cost me $10, 800 to bring her current and I gave her another $5,000 for the deed. $10,800 to bring current $5,000 for the deed $5,700 for carpet and paint $750 for other costTotal out of pocket $22,250 to take control of a 500k plus property based on appraised valueI did a lease option for 5 years at a lease option purchase price for $549,000 with 25k down and $4,500 a month with 25k towards the purchase and $500 a month credit towards the purchase of the home.

You wouldnt want to send payments to a seller who is pocketing the money and not making the payments.4.