Thursday, March 1, 2012

the secret ingredient: "Quick Cash"

Cash Buyers

that's the secret ingredient...

...they can close in 7 days or less AND will make a quick decision with no inspection period, no hassle and they'll pay ALL closing cost.


Did you know that 28% of ALL transactions are CASH mostly to investors, this is up from 20% in 2010.


What does this mean for us? HUGE OPPORTUNITY

All right back to the story,
The Whole Story...
I had the contract at a price I thought would work BUT I didn't have any way to close/buy the property BECAUSE I was broke.

I had no money remember...
So I started calling ads in the local news paper that were offering "lease with option to purchase" or "seller financing"

My thinking was that these individuals were investors that have recently bought a property and were looking to sell or rent it.



I was thinking they MIGHT want more...

Well, I was right.
I found a guy named Chad that showed interest in the property and he agreed to meet me at the house. He walked around, himed and hawed and finally offered me the $96,000.

I agreed...
We drove over to the local McDonald's, sat down and filled out the "sell side contract".

He gave me a $2,000 non refundable deposit.

I left that McDonald's on super excited...I sold it!!!

I took both contracts and gave them to Barb at the title company and told her I want to do a "simultaneous close"

Here's how it went...
The buyer, Chad wired in the $96,000 to Barb at the title company, I got $11,008 (after closing cost were paid) and the seller received his $84,000.

This all happened in 4 days...
So how much money did I have invested?

NADA!

Chad wired in ALL the money needed, my ONLY investment was the Staples purchase contract, that's it!!!
I did it...I winged it...but I did it.

Now, I can tell you there is A LOT more to the puzzle to consistently do this over and over giving you enough cash to quit your JOB.

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