How to create a real estate deal with no equity
Great real estate deals are made, they don't make themselves. Let's break down the numbers on my next subject to real estate deal. This will be my most creative finance deal of all time.
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I'd like to introduce you to my next real estate deal I'm attempting to put together. At first glimpse, it doesn't really look like it could be a good real estate deals based on the numbers. There's no equity, back taxes, medical judgments, child support judgments plus the house needs about $50k in renovations. But let's take a closer look together to see what can be done with some of these creditors.
I learned a long time ago, something is better than nothing when it comes to judgments. Ron LeGrand told me to approach the child support agency to ask for a discount on the judgments. But, I'd need to hire an attorney in order to do it. So come along on a journey into the numbers and let me also introduce you to my real estate attorney that'll be handling all the negotiating on this deal. Let's have some fun together because I haven no idea how this one will end up. I'll try my best to turn this into a deal, but you never know what the creditors will do until you start negotiating. This will be a 2 or 3 part series because we're just starting to put this deal together so make sure you're subscribed and hit the bell so you don't miss the follow up...