Author: Dave Dinkel

Buying houses with little or no money and no credit is not a myth. In fact, the process of using creative financing is exclusive to real estate investing and offers the buyer the maximum leverage possible - zero investment. So technically any profit the investor makes selling or renting the house is an infinite return on his capital ($0)! If there is a myth about using no money to buy a house, it is the myth that an investor must give the seller a monetary consideration to "seal the deal". This is a myth because all contracts read "for the sum of $___ dollars or other good and valuable consideration..." and in this case, the valuable consideration is always the purchase of the property. Hence, no good faith money is needed to put the house under contract. An escrow deposit or "earnest money" deposit may be required depending on the seller and the offer the buyer makes. » Continue reading "How to Buy Houses with Little or No Money and No Credit"