Notes With No Money: How To Buy

Elias drafted a simple agreement. He didn't buy the note with cash. Instead, he used a or Wholesale strategy:

You aren't buying the note; you are buying the contract to buy the note, then selling that contract to someone with cash. how to buy notes with no money

Elias didn't have $30,000. He called a local "hard money" investor, Marcus. Elias drafted a simple agreement

He found a private investor, Mrs. Gable, who had lent $50,000 to a fix-and-flip artist three years ago. The flipper had vanished, the house was rotting, and Mrs. Gable was tired of the taxes. She held a "performing note" that had gone "non-performing." Elias didn't have $30,000

"Marcus, I have a $50,000 note on a property worth $100,000. I have it under contract for $30,000. Give me $35,000. You get a secured note at a massive discount, and I keep $5,000 as a 'finder’s fee'."