Joe: Hey, it’s Joe. I’ve got another question
here. This person says, “Can you really buy house with zero down and
bad credit?” Joe: The answer is absolutely yes. We’ve done
it hundreds, well, thousands of times. If you count my students as well, we’ve done
it many, many times over the last 20-some years that I’ve been in this business.
Joe: There’s a hierarchy of zero down structures that I teach. I teach you how to use which
structure at any particular time. The structure names are “Subject-to” (which many of you
have heard about), “Multi-Mortgage” which is one that I created, land contracts or contract
for deed depending on whether you’re in a trust deed state or a mortgage state, lease
options and then assignable cash deals. All of those are zero down structures where you
can control the property, where you can OWN the property, where you can actually get the
deed to the property without qualifying for a mortgage or without making any down payment
by just taking over the payments on a mortgage or by creating a new note and mortgage. So
it’s very possible. Joe: The trick and the thing that most people
think is, ‘Nobody would do that.’ But that’s not the case, clearly. We’ve done it so many
times. And I’ve even created automated subject-to deals. I’ve done it with the lease option
method that we teach. We do a lot of this with the lease option — I call it “The For
Rent Method”. This is where we go after people who have their homes for rent or for sale
by owner and we show them how we can sell their property lease option and get them out
from under a property, and then protect them and solve the problem that they’ve got of
having this vacant property or a property that they can’t sell.
Joe: And, they love us for it. It makes it very easy to sell this. If you get good at
the things that I teach and learn how to talk to these people and make these offers, then
it’s not a problem. Joe: There’s lots and lots of these leads.
If you look at the for sale by owner section on Craigslist, you’ll see the leads that we’re
working with. We use an automated scraper that I’ve talked about in the past that pulls
those names off of there and then sends emails out to those people. It gets the people that
are most interested to reply and say, ‘Yes, I would consider that. Tell me more.’ And
then it sends them to a website and the website explains it to them and it builds our credibility
and explains to them and teaches them and shows them why it makes sense for them to
do it our way. Joe: Then, a lot of times, they’ll go right
online to our lease option memo and they’ll fill out the form online (or I guess, fill
out the form online typing it in) and hit ‘This is my digital signature. I accept this
form. Click on this’ and then it sends it to us as a finalized lease option memo that
we can then turn around and sell, take the assignment fee, put a buyer in there and then
we’re in and out of the deal and we’re done. Joe: And that’s the simplest form of it. That’s
the form of it that I teach my mentor students the first day they’re in the business or the
first day that they come to my Two Day Buying Event. When you come to that buying event,
I teach you how to do it, and we actually make offers right there at the buying event.
Joe: So you can learn how to do this in one day. The first day that you’re in my mentor
program and the first day you buy the “Push Button Method”, you listen to one recording
and you make offers the second day. If you’re at the buying event, you make offers the very
first day you’re there. Joe: So yes, this is very possible. It’s even
a mundane question to me now. I’ve heard it so many times that it’s hard for me to get
my head around the idea that people don’t understand why this would work.
Joe: And by the way, look at my case studies page. If you
got to,
then you can look at some case studies of my students who have done this for themselves.
There’s 40 or 50 different videos on there of people that have done this. So hopefully
that helps you understand. Thanks. Bye, bye.