The Science of Flipping - Episode 23: Quick Tip – How to handle a property that is owned free and clear| Real Estate Investing Podcast

Episode Date: February 7, 2014

document.addEventListener("DOMContentLoaded", function () { podlovePlayer("#player-5eb5ab32397d0", "https://thescienceofflipping.com/wp-json/podlove-web-player/shortcode/post/395", "https://thescienceofflipping.com/wp-json/podlove-web-player/shortcode/config/default/theme/default"); }); <p>[podlovevideo src=”http://thescienceofflipping.com/audio/Podcast-23-How-to-handle-a-property-that-is-owned-free-and-clear.mp4″ type=”video/mp4″ duration=”” title=”Real Estate Investing Podcast – Episode 23 | Quick Tip – How to handle a property that is owned free and clear”]</p> Many investors only look at free and clear properties as a sure thing, but many times investors are leaving money on the table.  Justin shows you another way to look at a free and clear property, so that you can fully maximize your profits. Don’t miss this.

Welcome to the Science of Flipping, episode number 23. This is your quick tip for the week, guys. I am your host, Justin Colby, and today's quick tip is going to be all about how dealing with a home that is own free and clear, and what to really do with that. If this is your first time here at the Science of Flipping, the videos here are your quick tips that I release and if it is your first time get over to our website and go login and get the best most highly sought-after ebook out on the market the 15 most costly mistakes a real estate investor can make I wrote it myself this

is something that I have gone through that other real estate investors have gone through And they're the 15 most costly mistakes. It's free of charge It doesn't cost you anything get over to the website the science of flipping and grab your copy also, if you want to speak to myself and or my team or work more closely with myself or my team go ahead and actually email my assistant at info at the science of flipping calm and we will get back to you about working closer with us or even just talking further with us or asking us more questions we're happy to do so again info at the science of flipping calm but anyways

back to your quick tip we are talking about homes that are owned free and clear and what to do with them now if you're a wholesaler and you flip homes in a wholesale model this will also change possibly how you deal with properties as fixing flippers like ourselves this obviously is a great advantage to be able to just tweak a little bit how you're handling this property and the main point that I'm gonna bring up to all of you is you can have them do a seller carry back instead of us the fixing flippers going in and truly acquiring it with our own capital with hard money with a loan from the bank because it's owned

free and clear you might want to have a conversation simply saying hey would you be interested in selling me the property but carrying back a loan for the sales price now as a fix and flipper that's great because i have the loan in place I don't need to go raise money or use our own money and if you're a wholesaler and you don't typically take the homes down this also works for you because you're basically allowing your end buyer to possibly have the ability to acquire that home without having their funds so if a wholesaler came to me sell it said to me wholesale deal one two three Main Street seller financing available that would be the first hole the first home

I'm calling on so understand whether you're flipping homes as a wholesaler or buying them and fixing them and flipping them like we do this is advantageous to ask one simple question have you thought about or would you be interested in doing a seller carryback that's it guys that is your quick tip for today most investors don't think about being that creative they see the home as being owned free and clear and they think oh man how much money can i possibly make but if they take one more step and simply ask will you be open to doing a seller carryback i guarantee they'll be making more money again guys I'm your host Justin Colby for the science of flipping again

get over the website shoot my assistant an email in a look forward to talking to you guys next week talk soon