How About A Realistic Way To Buy Your Home?
All the gurus keep showing you million dollar mansions, when all YOU want is a place to call home.

Two of the members of the Staff Of Found Secrets found a way to first buy their mobile home, and then a home that sits on two city lots with an oversized garage.

And, they stumbled on separate creative financing methods in both instances.

Creative Real Estate Financing

Just look at the table of contents:

Part 1 - Found Secrets' Presents The American Dream from their smash "Open Your Daily Newspaper & MAKE MONEY!

Part 2 - How A Broke Couple Bought Their Mobile Home With NO MONEY DOWN!

Part 3 - How A Broke Couple Bought Their Home Without A Mortgage Or Closing Costs!

Part 4 - 48 No Money Down Ways by a master of the NO MONEY DOWN methods (and it ain't Carlton Sheets.)

Bonus #1 - No Time To Read--That's Okay! (We've included the audio of The American Dream.)

If you're serious about getting out from under mortgage payments, or lowering your mortgage payments, or getting away fromt the vicious rent cycle, you will get this report right now and read it today.

Creative Real Estate Financing

I am well known for saying: I don't buy properties, I buy problems - I acquire the properties since they are attached to the problems. I solve the problem and make money. Problems may be with the owner(s) personally, the property itself, or the title to the property. With this win-win attitude you will succeed much more than the person who is only looking out for himself.

Thinking creatively in these situations is essential.

Realize that No Money Down might not mean No Money Down but None of YOUR Money Down. In other words, put someone else's money down for your real estate acquisition. Use "OPM" (Other People's Money).

Learn how to balance price and terms when negotiating a purchase or a sale. If you are buying and the seller is firm on his PRICE then negotiation must be under the Buyer's TERMS. If the seller does not want to entertain creative terms, then he must move on the price. Take a look at the following examples:

1. The seller is stuck on a $200,000 sale price.

1. Lender loans $170,000 for new first mortgage.
2. Seller holds $20,000 in a second mortgage (terms)
3. You put down $10,000 cash

2. Three siblings have inherited a free and clear property and they do not get along. They are demanding $50,000 cash each, bringing the sale price to $150,000 FIRM! With repairs, the house will be worth $200,000.

Repairs needed:

Roof $15,000
Windows $5,000
Paint $5,000
TOTAL $25,000

Estate Appraisal is $135,000

What questions should I ask?

I ask the brother who is handling the transaction what he and his siblings are going to use the money for.

1. He says that he is going to have an $80,000 addition put on his own personal house and has $30,000 in the bank but needs $50,000 from the sale to avoid having any loans associated with the addition.
2. His brother wants to buy a new Porsche for $45,000. He is just going to blow the money all at once!
3. Their Sister has some credit problems and owes about $41,000 in credit cards She is planning to use the money to get out of debt.

How can we make it work?

1. On his behalf, use your negotiation skills with his contractor who will be building the addition. Possibly supply materials for the contractor bought on your credit card or credit line. Possible result: $13,000 saved.
2. For his brother, use your negotiation skills with the auto dealer to get a lower price, and possibly finance the new Porsche with your good credit. Possible result: $7,000 saved.
3. For his sister, negotiate with the credit card companies or work with a credit counseling company. Possible result: $22,000 saved.
4. The total of these is a possible result of saving up to $42k cash.

They can hold three separate mortgages for $36,000 each. Then, your payoff is the amounts you have successfully negotiated. You then apply to a traditional lender to refinance the lower mortgage balances totaling $108,000.

That's a good deal! Here's a better deal: The sellers jointly hold one single mortgage for the entire amount of $108,000. You reduce the payoff of the mortgage the same way mentioned above. Then sometime in the future, you tell them that you are coming into some money within the next month. If they can agree to take $80,000 for the balance, you tell then that you will have all their cash within that month. If not, they have to wait out the terms of the mortgage, which you negotiated to be the longest time possible. This saves you another $28,000. I have used this method many times. Total savings on this deal $70,000.00! That's a 40% savings!

Alan is a millionaire real estate investor with over 25 years of experience. He is an author, speaker and educator specializing in creative and traditional real estate investing. To sign up to hear Alan's next teleseminar packed with practical know-how, visit http://www.hearthecall.net for free access.

Article Source: http://EzineArticles.com/?expert=Alan_Kosinski

When non-traditional methods are used to buy or sell a property, it is termed as creative real estate investing. It refers to unusual methods used for selling or acquiring real estate. Many kinds of creative real estate investing are practiced frequently.

Popular Types of Creative Real Estate Investing Techniques:

Seller Financing: This is an unusual real estate investing technique where the property owner offers to finance the buyer! The owner typically lends a portion of the equity to the buyer and receives regular monthly payments. The mode of repayment may differ, it may be a principle only payment and interest may be fixed or variable, all depending on the contract agreed upon by both of them. Sometimes the buyer gets to assume the sellers loan, which is written as an all inclusive trust deed. Loans for commercial property are termed as assumable loans where as residential loans are termed non-assumable. These two techniques are used widely among the creative real estate investing techniques.

Lease Options: This refer to a person signing a lease as well as an option to purchase the leased property within a fixed amount of time. The options usually are for short durations of time like 12 months etc. and the lessee agrees to pay an additional amount as an option fee which will be forfeited should the option not be carried through. There are lease purchase options that make it mandatory for a lessee to buy the property with the term of the option. The price of the property is fixed at the time of the agreement and no matter what the land value; the lessee has to pay the amount stated in the agreement. Sandwich lease options are methods of buying a lease option and immediately selling it to another buyer for a profit, which will be shared by the owners.

When mortgages are defaulted the owner may try selling the property to the lender asking him to accept a lesser amount than what is owed in the mortgage.

Another technique is to buy bulk property from banks etc and sell them individually for a small profit. Using tax liens to acquire property is also a creative real estate investing technique. Investors buy tax liens from the government and should the homeowner default, the investor may foreclose the house. Some people buy a property that is ugly or old and unfit, make a few changes and give it a facelift, and are able to sell it for a huge profit.

The scope for being successful by investing in real estate is astounding. With careful planning and using creative real estate investing techniques, a person can make a huge profit as well as build a successful career dealing in real estate.

Alexander Gordon is a writer for http://www.smallbusinessconsulting.com - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

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