5 WAYS TO BUY A HOUSE WITHOUT BANKS
One of the easiest ways of becoming financially free is to Buy real estate. As an investor myself, I have experienced such freedoms. My mission now is to share the knowledge of how I Buy properties with those interested in learning how to Buy investment properties.
Becoming a home owner is part of the American dream. A large percentage of Americans find that dream unattainable. A major cause of this dream killer is debt. I am here to shed light on how to purchase as an investor.
There are 5 ways one can purchase proprieties as an investor.
1. Friends and Family: Friends and family are possible business partners. By understanding your investment goals you will be able to explain your plan of purchasing an income generating property to partner on. Your business partner is “the right” conversation away with ” the right” family member
2. Owner Financing: This structure is by far my favorite way of acquiring properties. The seller/owner of the property takes the role of the bank. The owner will hold the mortgage and you the buyer will make payments to the owner instead of the bank. Credit is not needed with owner financing and all terms are negotiable.
3. Lease to Own/ Rent to Own: With renting to own one can rent the property with a lease to purchase after a certain amount of time (typically 2-3 years). In this option one would pay a higher rental fee because some of the money will go towards the down payment pay a higher rent because some of the money will go towards your down payment of the property once you are ready to purchase.
4. Joint Venture: Joint Venture is when One party has an idea and the other party has the money or credit to make it possible. Joint ventures are not partnerships. There are timelines are in place for the Funder of the venture to get back the initial contribution for the venture and then ways are parted.
5. Partnership: Similar to Joint Venture how ever partnerships involves a continuous relationship. Partnership will move forward together in the business where both sides profit for the duration of ownership