Buying or Selling a Home/buying and selling

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Expert: - 1/6/2005


Question
I have heard about these techniques where you can buy a home without a downpayment. Is this real if so whats the way to do it.

Answer
Dear Rhondal,
The "no money down" method of buying a home is actually quite effective but requires lots of time and hard work.  The best method is taught by Carlton Sheets.  You can find his seminars and workshop tapes online.  Just do a search for Carlton Sheets. Or you can go to this website: http://CarletonSheets.com
His approach is to find homes that are going into foreclosure, contact the owner and offer to take the home off their hands.  It involves searching newspaper announcements and making lots of phone calls.  The other thing that he proposes is using a credit card for down payments and then "flipping" the home before you even make the payment.  He also advocates buying and then getting the home rented and using the profits of rent to pay for the next home.   What is wrong with this approach?  Well you have to be in the right market.  What if you can't rent the house???  There are some areas that have higher vacancy rates and then the plan falls apart.  It is worth looking at the ideal that is taught and then seeing if it can easily apply in your market area.

Good luck and best wishes.

Sincerly,
Jessica Bryan
Managing Broker
House to Home Realty Services

Buying or Selling a Home

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Jessica Bryan

Expertise

buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.

Experience

Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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