No Money Down In Southern Calif.??????????? - Posted by Todd

Posted by Jesse Nolslom on June 14, 2000 at 11:02:34:

No, you are doing the right thing. No money down deals are not easy to find in a “sellers market” like we have right now. Remember, Sheets has sold his course to thousands, if not millions, and only 15-20 “successful” people are shown on the infomercial. I have bought using no money down but it is rare and is not always the best way to go. Just keep trying but in the meantime do not pass up on deals where you have to put money down…as long as the deal makes sense and money.

No Money Down In Southern Calif.??? - Posted by Todd

Posted by Todd on June 14, 2000 at 01:40:07:

I have written 6 offers now on 2-3 family units in Ca… It seems those give me a better return than single family… But it seems that it will cost me between $4000 - $10,000 on each deal… I read CS course but in this market no one is biting… I have even put Wanted ads in the paper and 0 responce… Am I doing something wrong???

Re: No Money Down In Southern Calif.??? - Posted by Jim

Posted by Jim on June 15, 2000 at 02:36:36:

I’m in a HEAVY seller’s market here in No. Ca. I deal in SFRs mostly, generating $15,000 to over $50,000 PROFIT per deal. Buyers will always pay more then renters! Many “No Money Down” (mine that it). Mulit offers is a very good strategy in getting the seller to seriously consider an offer you make. I use it ALL the time. Keep plugging. You will find that seller. In the mean time, expand your market (the ways of buying and kinds of proprties) and DON’T waste you time chasing dead end deal. If they don’t accept an offer, and the property doesn’t sell in 30 days, modify your offer (if needed) and resubmit it. You don’t know how many of mine were accepted 60+ days after my initial offer(s) were made. I’ve had sellers looking for all cash accept owner financing or a lease/option 3 months later.

Also, look into marketing techniques. Writing copy that draws, is an art. Test headlines, change your ad (even if just a little), compare one results to another. Test-Test-Test! You will find the formula that get you calls. Remember, The ads that gets the calls is the one that appeals to the sellers needs.

Re: No Money Down In Southern Calif.??? - Posted by BD(Ca)

Posted by BD(Ca) on June 14, 2000 at 18:48:11:

I did a no money down w/ the 4 unit property I bought about 2 1/2 yrs ago. Used my credit card for the 3% downpayment (owner occupied). Last year, did a no money down again with the condo I bought. My mortgage broker gave me a 2nd t/d for the downpayment. So on both deals nothing really came out of my pocket. Guess it can be called a “no money down” because I didn’t really use any of my own money.

Re: No Money Down In Southern Calif.??? - Posted by Mark (SDCA)

Posted by Mark (SDCA) on June 14, 2000 at 16:23:15:

Carleton is a tough sell in SoCal. Even if you CAN buy NMD, do you WANT to?? Most of the times out here, it only gives the priviledge of having a large negative cash flow every month…