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.

It's an extra few bucks in my pocket for appliances I got for free (I get mostly all my appliances for free...being in the right place at the right time helps).9 times out of 10 when the tenants move out, they leave behind the washer and dryer that THEY OWN.

This leaves an unhappy tenants and an investor still paying out of pocket to repair the problem.

If you sell it you can pocket the gain, as long as you've lived there 2 of the past 5 years, up to $250K single, $500K married filing jointly.Before you decide to rent out, or sell either one you need to evaluate the RENTAL MARKET, versus the VALUE OF THE PROPERTY.

No matter what my plans are before going to Vegas, I always leave with empty pockets and a big :mrgreen: on my face.

:groovy: Welcome to Bigger Pockets~Have fun~

Made a profit W/O coming out of pocket.....So if your a broke *** college student like I was, who was good at paying interest bearing bills, Try this one out it might work....If it doesn't, the consequences will be utter chaos, yeah-Art