How To Make $15,000 From $0

If I had to start over with absolutely $0 in my bank account, here's the direct path I would take to getting my hands on $15K so I could start to rebuild my businesses. This strategy can be done by practically anybody. The only requirements are that you need to be 18 years old and you need to have a cell phone and internet connection. Now what we're going to do is flip a house. Now you should probably be asking yourself, one, how are we supposed to flip a house with $0? 2, I have no real estate experience and I don't have a real estate license. And 3, I don't have any idea how to renovate a house. All of that is completely fine. You don't need any money and you don't need a real estate license and you don't need to know how to renovate a house. Let me explain how this is going to work. First, we're going to find a house that needs a lot of work. The way we're going to do this is by leveraging the help of title companies. The title company is a third party that is involved in 99% of real estate transactions. Their job is to research the title of the home you're buying and ensure the title. Now, here's what I mean by that. Let's say you bought a house without a title company. Later on, you find out that the seller of the property actually inherited it from his father that passed away, but the father left 50% of the house to the guy who sold you the property and 50% to that guy's brother. Now, this other brother shows up one day at your door and he's wanting 50% of the house. That would be no bueno. Title companies prevent that from happening. Now, title companies don't make money unless people are transacting on properties, so it's in their best interest to do whatever they can to make more real estate transactions happen. Because of this, they will be more than helpful in helping you find a property to flip with the expectation that you will hire them to facilitate the transaction. So what you're going to do is you're going to call all the title companies near you and you're going to explain that you're looking to flip a house. Now ask for a list of 30, 60, and 90-day late properties. These are properties that are either 30, 60, or 90 days late on their mortgage. Once you've gotten this list, it's time to move on to step 2, which is to buy one of these houses. We're going to call through the list and we're going to find out who wants to sell their property that they've been unable to make their mortgage payment on. Once we find somebody who does want to sell, we need to buy their property for a deep discount. Now, before you get all freaked out saying, Tyson, this was supposed to be how to make $15K with $0, how am I supposed to buy a house with $0? Allow me to explain. The way a real estate transaction works, you don't actually pay all of the money right away once you and the seller agree on the price. There are several things that have to happen before then. The title company needs to inspect the title, and you as the buyer need to have time to do your due diligence, and so on. So once you agree on the price, you will also agree on a due diligence period and a closing date. The due diligence period is the time for you as the buyer to inspect the property. During this time, you can back out of the contract for any reason. The closing date is when the property is actually sold. This is when the money changes hands and the buyer becomes the owner. Now here's where the trick comes in. We can actually sell the property during our due diligence period to someone else. Now here's what I mean by that. Let's say you talk to somebody who's 90 days late on their mortgage. The property used to have tenants in it who destroyed the house. The tenants then moved out, and since then, the owners haven't been able to find anybody else to rent it since it's in such bad condition. Now they're 90 days late on their mortgage, and they're scared they're going to be foreclosed on and lose the house entirely. But you call them, you offer them $100,000 for the house. At first, they decline because they know that the house could be worth $200,000 if it was all fixed up. But then you remind them that, hey, you know, the house is in really bad condition and that it's going to cost tens of thousands of dollars to fix it up. "and if you don't sell it or figure out a way to catch up on those late payments, you may lose the house." After hearing that, they agree that they would rather cut their losses and sell it for $100K rather than lose it. And so you and them sign a real estate purchase contract that says you're gonna buy the house for $100K and that you have 2 weeks due diligence period and that the sale is set to close in 30 days from now. This is where we're gonna move to step 3, which is to sell that contract to another real estate investor during your due diligence period. We're going to do this by finding real estate investors on Facebook. Facebook has tons of groups where active fix and flippers hang out. All you need to do is search in "real estate investors in" and then put the name of the town where you found the deal at. Let them know that you have a real estate deal that could be worth $200,000 and you're looking to sell it for only $115K. They're going to look at it, and even if they have to spend, let's say, $30 grand fixing it up, If they buy it for $115,000, put $30,000 into it, and now they have a house worth $200,000, they just made $55,000. They're going to jump on that opportunity. Now, the way you are going to sell the property to them is by using an assignment of contract. This is a contract that allows you to sell your original contract to a new buyer for a fee. Once you and the other real estate investor have both signed the assignment of contract, you are going to send that document to the title company who initially provided you with the list. Then, after 30 days, it will be time for the closing. On this day, the other real estate investor is going to send $115K to the title company. The title company will give $100K of that to the seller of the property, and then they're going to give you the remaining $15K. Everyone's happy. The real estate investor gets a new great investment, the seller is able to get rid of a house that's stressing them out, and you get paid handsomely for putting the deal together. This process is called wholesaling real estate. It's a massive industry that people all over the country are using to make millions of dollars a year. Now, before you say, you know, this is cap, let me just show you some of my recent assignment fees from the last couple of months right here, here, here, and here. All you need to do to get started is a real estate purchase agreement and an assignment of contract. Lucky for you, I have mine available for you to download absolutely for free. You can get them by clicking in the link in the description for free wholesaling resources, or you can go to www.freewholesalingresources.com. If you feel like you need more help and you would like step-by-step tutorials on every part of the process, from finding sellers who need to sell their properties to finding buyers to assign the properties to, or even how to value the properties so you know how much to offer, I actually came out with a comprehensive program named Wholesaling 101. That will show you everything you need to get started in this industry, making tens of thousands of dollars a month. And the best part is the program only costs $69 a month. You can learn more about that at the link below. Now, as always, guys, thank you so much for watching, and I can't wait to see you guys on the next one.