How To Flip Houses With No Money

How To Flip Houses With No Money Video

How To Flip Houses With No Money Video Transcript

hey there Sean Kerry here flip to
freedom calm and I have a question for
you you want to get involved in real
estate but you don't have any money and
you're wondering how can you participate
in real estate when you don't have any
money you don't have any money for a
down payment you don't have any money
for maybe marketing you don't have any
money for buying a rental property one
day I want to get involved but and then
see everybody doing the stuff but I
don't have any money well in this short
video I'm going to show you three
stealth funding strategies that you can

use whether you have any cash or any
credit whatsoever you can get involved
in real estate and you can start
generating income right away in the next
30 days or less so when I first got
started in real estate I had the same
preconceived notion I thought you had to
have big down payments to qualify for a
loan come in with 20% by of property and
six you see all these you know TV shows
like flip or flop and put all this money
down they'd buy this house they put 150
thousand dollars in a property make it
look beautiful and turn around selleth
the issue is when I first started I

didn't have one hundred and fifty
thousand dollars and put down or the
wherewithal to buy the property and I
didn't have the education to do it so
and it came to you know buying rental
properties I didn't have that either I
didn't know how to come up with the 20%
and deal with all that maybe renovations
what if the vacant had to pay that I
didn't have that so I thought I was out
of the real estate game so what happened
was I was going to an appointment on a
Saturday afternoon actually sold pools
and landscaping so on a Saturday
afternoon I was driving to an

appointment driving down the freeway and
to go bid this pool and landscape job
and I was sitting there just back in
2003 I was flipping through radio
stations trying to find something to
listen like some sports station or
something it probably was it was a man
and there's really nothing to listen to
so I'm flipping through the station and
I hit channel 1510 KNN which is a
financial news radio network here in
Phoenix and the guy was on the radio
started talking about how you kids flip
houses usually no cash and credit and
and I'm seminary's telling about this

concept in this idea and I was like I
have this preconceived notion originally
from New England
I was like there's no way this is skin
you can't do that cuz I thought I knew
what I knew right and then he had this
is what put me over the edge he had
people on the radio that were telling
stories about having me five thousand
ten thousand even twenty thousand
dollars and I was like there's no way
what a joke you can't do that and I
actually turned the channel and
continued driving down the freeway
look what a scam can't do that and what

what ever reason I know today was God's
intervention I actually turned the
channel back and continued to listen to
what this guy had to say and he
explained a concept that I want to share
with you these three simple steps that
you can do three stealth funding
strategies you can use to get involved
in real estate and make money whether
you have good cash no crash credit good
credit no credit whatever it takes so
here's what we're going to talk about
all right so let's say you have no money
right you have no money right give
involved in real estate what do you do

how can you get involved well here's the
thing is that once you understand this
concept and how this works it's all
going to make sense first off you
understand number one is that we are
only looking when we market for
motivated sellers or we're looking for
motivated sellers or we want to talk to
motivated sellers right a lot of people
say well I've talked to people and they
all want retail every one of them want
retail the reason why is that 95% of the
population look at 95 percent right 95
percent of the population are all going
to want retail when they are ready to

sell their house they're going to call a
real estate agent a friend they're going
to find someone on Facebook and say hey
do you have a referral and they're going
to list their house right and they're
going to sign paperwork they're going to
put a sign in the front yard they're
going to put a lockbox on their door
they're going to clean up their house
you know declutter eyes it make it
spectacular and they're going to have
people come through and they're gonna
look at the house they're going to make
an offering goes through the
haier process 95% are going to want

retail right that's this that's just the
way it is that's normal but we're not
looking for the 95 percent we're looking
for the 5 percent and the 5 percent are
distressed distressed right there we go
the math that's right the bottom line is
they're distressed so here's the thing
is that a distressed seller could be a
an investor who has a property that
hasn't ended in the property that
trashed it and he doesn't want to have
to fix it up it could be a fire damaged
property it could be a property where
the seller hasn't made payments on a
mortgage in just what and they're just

they just they're going to lose the
house
they're in a situation it might be they
haven't paid their property taxes and
they're in an issue it might be where
they transferred to another state and
they can't make two mortgage payments
that is distressed that's who we're
talking to so the bottom line is we're
talking to distressed sellers and we're
helping them out of their current
situation so what we're going to do is
we're talking and we're going to sign a
contract with them incredibly important
once we sign a contract with a

distressed seller right that gives us
what's called equitable interest and we
have equitable interest in the property
that means we control that property and
there's only one person at a time that
can control the property the seller
can't sell it to five different people
so now that we have that sort of
lynchers we have the way we can market
we can talk to other people and
essentially sell our contract so let's
say theoretically we have a hundred
thousand dollar house house is worth 100
it could be two hundred thousand three
hundred thousand the numbers are

relevant just follow me here so a
hundred thousand dollar house and we
have a distressed seller that the house
they inherited the property we just had
a deal that came in this past weekend
seller called us up instead on Sunday
they filled out a lead form from Google
AdWords it came in I actually called
them on Sunday and talked to them they
had a property that they inherited they
didn't want to fix it up and they
literally just want to get rid of it
it's fast as humanly possible so I said
okay we said an appointment for Monday
at 3:30 my sales guy went out there

Raphael met with the seller got the
property on the contract and actually
gave them what they wanted they wanted
between 65 and 70 thousand we gave them
sixty seven thousand five hundred
dollars and within 24 hours we turn
around since we had a contract on the
property equitable interest we found a
buyer on one phone call that's the
market right now markets credit right
now we have find it by on one phone call
that said he wants the property for a
hundred and five thousand dollars and
can close this week so this was Sunday
got the contract one day closing Friday
right so the bottom line is what's that
like a thirty seven thousand dollar
profit X on a bad deal right in seven
days so what we did was that a property
under contract for sixty seventy five
turn around found a buyer on one cool
phone call for 105 thousand dollars so
how much cash did I have to qualify for
the loan
no did I have to come up with a sixty
seven thousand five hundred I'll explain
that in a second I'll show you exactly
how it works we're going to talk about
the closing on that so all I had to do
is find the buyer right there was the
wanted to buy the probably he's going to
buy it for a rental and just hang on to
it so essentially I got a contract with
a seller for 60 75 I found a contract
with a buyer for 105 now what I'm going
to do here's how it works where you can
get paid using nine year old cash in on
your own credit so all I did was sign
the contract in front my credit I
literally used a ten dollar earnest
money and I had people go you can't use
ten dollars in earnest money there is no
way a seller's gonna accept that
oh really they did right because now if
you're talking is 95 percent of course
they're not why they don't need to
they'll need to sell five percent of the
stress dollars were helping them at them
we're helping these guys out of the
situation and they are a static they are
so happy they get to unload this
property with no hassle they don't have
to fix it up and they got it done in a
week
they're estatic because we're providing
them a service right the bottom line is
people to ten dollar earnest money
do it all the time the only people
saying that if they've never done it
before
hey they never tried they never talked
to this dress so I've never done it
before so they don't know again they
don't know what they don't know so
here's the deal I got a contract with
the seller going to contract with a
buyer I bring it to a title company a
closing agent an escrow officer and I
say okay we are going to close the
transactions there's tears of three self
funding strategies right number one we
have an assignment assignment so what is
an assignment an assignment is where
it's a one-page document that you the
title company your escrow officer an
attorney can prepare that essentially is
you selling your contract for a price so
in our case we would sell our contract
for thirty seven thousand dollars right
that's what we sell our contract for
right you get a property under contract
for 50 and turn around sell for 60 you'd
sell your contract using an assignment
is to get one page form selling your
contract for $10,000 right you have
something that's incredibly important
you have control of a property see you
can't do this in the stock market you
can't buy Apple right this one hundred
and what 50 bucks a share you can't buy
it for 70 bucks you can't do it the only
time you can buy it is when it 170 bucks
if you buy Apple for 70 bucks today
you'll get in trouble but in real estate
you have a distressed sellers that
you're willing to sell and they want to
get out of it they don't want to deal
with it they don't want to fix it up
they'll sell because you're providing
the service to get out of that situation
they don't have to fix it up and do all
that stuff 70 70 70 thousand dollars 60
is out whatever the number is so you can
sell your contract for the difference
between you and the buyer right that's
called an assignment title company
escrow officer attorney they'll handle
the paperwork for you there you bring
the both of your contracts to a title
company escrow agent or attorney
depending on what state you're in maybe
you're in New York you do an attorney I
think it Atlanta
attorney jurors in an attorney New
York's an attorney I mean New York and a
Chicago's an attorney so those are
attorney states when some up some have
escrow and some have peddle companies so
the bottom line is you bring it they
facilitate all the paperwork they
facilitate all the money in the
transaction and they can create a simple
assignment form for you that you can
assign your contract in the example you
know let's say you do it for $10,000 you
get a property under contract for 50
itself or 60 that's a $10,000 assignment
now the second right is what's called a
double escrow SS curl so you're going
what the heck is a double escrow
that's why five SS girl called
transactional funding SS girl
back-to-back closing those are all the
same terms for SS girl what essentially
what we're doing over here is we have a
contract for fifty thousand right and
that's with the seller and now we have a
contract for sixty thousand with a buyer
and we bring both of those to the right
to a and title company or an escrow
office or whatever we bring both of
those now what happens is this right and
excuse my drawing here the bottom line
is sixty thousand dollars the buyer now
wires in right he wires in sixty
thousand dollars to the title company
because the title companies got both
contracts they wire a sixty of that of
which fifty thousand goes to the seller
right and this is you right here you get
a big smile in your face look and you
get ten thousand dollars so the buyer
wires in sixty thousand 50 thousand goes
to the seller and ten thousand goes to
you that's a double escrow so how much
money do you bring into the transaction
no money right on the assignment how
much money do you bring in the
transaction no money how much money you
got in this thing right ten bucks on
your contract so you turn around you
bring a contract for buyer four sixty
seller gets fifty so is this seller
happy seller doesn't have to fix the
house they don't have to pay real estate
Commission's they'll have to pay closing
costs they don't have to get an
inspection report and fix all the little
tiny items on there they don't have to
wait 30 45 days for financing they turn
around and they hired a bunch of people
tramping through the house they get to
sell the property quickly because you
are able to find a buyer and it's
hassle-free boom title company Casey are
the transaction all the paperwork and
everything and you get to ten thousand
dollar check now here's a question this
is where it gets exciting what if you do
that one time in a year not bad right
one time in a year that's an extra
$10,000 raise what would it take on your
current job to get a $10,000 raise I
don't know a lot and what if you're just
driving around and you find a border to
pass and you found a seller just abandon
the property you talk to the seller and
get them under contract maybe you talk
to the neighbors neighbor gives you the
number you get them under condo I've
done this before and turn around you
find a bio turn around cell 10 you do
that one time in a year that's not bad
right
what if you do it once a month now we're
talking 120 thousand a year you realize
the top I mean the average American
makes fifty sixty thousand dollars a
year you'd be in the top five percent of
all money earners if you just did one a
month now what if you do ten a month now
you go in the top five percent now you
go in the top one-tenth of 1% of money
earners over a hundred thousand dollars
a month in revenue and you're going
there is no way I do it have the whole
business and built around it that's
exact what we do the bottom line is this
it starts by understanding the concept
now there's three right third one
this one's longer IO and a transactional
funding right the last and final one is
transactional funding the way
transactional funding works they're
essentially a lender that will fund your
$50,000 purchase so let's say you have a
title company they go listen we don't do
assignments and we don't do double
escrows and your only alternative is
transactional funding
so there's lenders out there right and
these lenders $50,000 will essentially
fund the $50,000 so now you buy the
property
assuming subject to that your buyers
already lined up and ready to go so your
buyer he's ready to go he's got his
money ready he's good he wires in his
60,000 you turn around and close on that
$50,000 and immediately turn around sell
it to the buyer well guess what the
seller now gets the 50,000 the buyer
gets the property and you get the
difference and the feel is typically
it's like 1 to 3% so 1/4 3% of fees so
it's big in 10,000 you get 7,000 but
still again no money out of pocket
that's called transactional funding so
this is the entire process of how to go
out and do it now you're wondering well
how do I find the seller how do I find
the buyer what contracts do I sign can I
do this if I'm a real estate agent does
it work in my market you're probably
asking all those questions you go wow I
didn't know that I didn't know I could
do this but now anyone how do I do that
well here's the deal is that if you
click the link below we are actually
doing a live webinar over the next
couple days and I want to invite you to
attend this live webinar and what we're
going to do is we're going to talk about
how to find the seller how to talk to
the seller we're going to talk about
different marketing tactics we're going
to talk about free marketing let's so
you don't have any money for marketing
we're going to talk about how to talk to
a sellers how to find those houses out
there that are vacant that are abandoned
the sellers want to get rid of even
talking to
or semi auras on Craigslist exactly what
to look for we're going to talk about
specifically you know the marketing
track and how to get paid in the process
right and exactly how to find the buyers
they're going to pick cash quickly for
the properties and put the entire thing
here it's amazing whether I have to
cleanse of feedback people going oh my
gosh it's amazing and they absolutely
love it it's going to answer all those
questions now that you understand the
concept how's the whole process works
step by step by step click the link
below register for the webinar and we
are going to basically in the next
couple days I'm going to be doing it
live here for a short period of time
philia tired and and then you're going
to be able to follow along and watch it
now couple cool things number one is I'm
going to give you what's called a cheat
sheet and this is a basically a
no-money-down cheat sheet that you can
get for free for attending also to when
you register on the next page right I'm
going to give you a book I wrote it's
been downloaded a lot a hundred and
twenty-nine page book that detailed the
entire process of this business
incredible content and on the next page
you're going to see a video testimonial
of someone who actually got started and
applied it and their stories are
absolutely amazing so just don't take it
for me I mean and people that have
listened to this and followed and they
got out and got amazing I mean we've got
bug guys that are you know at making
$50,000 a year they're now doing I mean
just amazing success they're actually
building some divisions now which is
amazing the bottom line is is that this
an incredible opportunity real estate is
I mean we are right now in a massive
massive seller's market meaning you'll
learn how to get the property and find
the property buyers will flex you bleed
one phone call one phone call four guys
and I'll take it we're going to show you
specifically how to do this in the so
ever so register below you're not going
to want to miss it