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How To Buy A House With No Cash Down

By Gary Cooper

Republish: EasyPublish™
Published: 07Nov2009
Word count: 437
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This is one method to purchase a house with no cash down. This is a $1,500 dollar transaction. Actually no cash was in my pockets when we started. What you do is turn to a short term lender and other investors (your buyers) you have already made contact with before making this purchase weeks ahead of time. These kinds of lenders are all over the internet so you can buy a house with no money out of your own pocket.

Go to Google type in "need to borrow money." What comes up is a short term lender. They charge a high interest rate but, you'll accomplish your mission of getting your hands on cash money in twenty four hours or less. To a real estate investment counselor or a home buyer this allows you to "pull money out of the air!"

This $1,500 dollars is a short term loan for ten to twelve days. This is how long you get before you have to pay the money back. They charged $200 dollars to borrow $1,000 dollars. With the internet all transactions were done online.

All transactions were done at my house other than when going to look at the house and when meeting at the title company at closing. Right there on the spot when looking at the house I gave the agent $300 dollars to tie up (contract) the house. I could just as well wrote a check because it would not have been cashed. It would have just set in a file at the title company.

This is no big deal because most purchases, even fast closing is usually six to eleven days. The $300 dollars came out of my Visa Card at the local Seven Eleven on our way to look at this house. After two days went by I got a call from the title company telling when we all are to meet for closing. I also called my real estate attorney to meet us as well. He charged me $200 to be at closing in which it all took thirty minutes. I learned the hard way! Use a real estate attorney and save yourself from pain later on!

Lastly, the whole time line took five days with only about two hours total time involved where I made $4,300 to me my cut my commission for being the middle man. For finding a buyer, for finding a seller and for finding the purchased house. I made the transfer the next day to pay my credit card back and paid the short term money lender back. This was how to buy a house with no cash down as a real estate investor.

If your looking for a formula for buying a house with no cash out of your pocket in plain and simple language then look to further for all the benefits! http://garycooperrealestatecornerstone.blogspot.com

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