"I can't give you $50,000 today," Elias said honestly. "But I can give you a " The Structure
Elias walked away with $5,000. He had "bought" the note and sold his interest in it without ever touching his own bank account. He took his $5,000, went back to his spreadsheet, and looked for the next zombie. Key Takeaways for Your Draft
He secured an option to buy her note for $30,000 (a discount, since it was non-performing). He gave her $10—literally a ten-dollar bill—as "earnest money" to make the contract legal. how to buy notes with no money
Elias drafted a simple agreement. He didn't buy the note with cash. Instead, he used a or Wholesale strategy:
Elias called her. "Mrs. Gable, that note is a headache. You aren’t getting payments, and you don’t want to foreclose. What if I take it off your hands?" "I just want my $50,000 back," she sighed. "I can't give you $50,000 today," Elias said honestly
Here is a story illustrating how it works through and Owner Financing . The Note Hunter
The mailbox was full of final notices, but Elias wasn't looking at his own mail. He was looking at a spreadsheet of "zombie" properties—homes where the owners had disappeared, leaving the bank or private lenders holding a piece of paper that wasn't paying a dime. He took his $5,000, went back to his
Finding a discounted asset and bringing it to a hungry investor for a fee.