Expert: Terrence Cullen - 5/13/2009

Question
QUESTION: terrence, please help us find a miracle. we need to find 100% seller financing income producing prty in new york. any websites, resoruces or suggestions would be great

ANSWER: Darlene,
  What is your credit score? What size property are you looking for?
How much liquidity do you have?
TC

---------- FOLLOW-UP ----------

QUESTION: credit score 750+ last checked. looking for either a laundromat or 30+ unit apt bldg. WITH positive cash flow. the problem...... we have no income, AND no money to put down. but we have stamina, guts, drive and passion. can you help us WHERE to look and find this needle in the haystack?????

Answer
Darlene,
  I respect your intentions, but I don't see this happening. There are only two ways that this makes any sense for a person to sell an income producing property for no cash.
  One, the seller would have to be selling at a premium above market or it is part of a portfolio that is being liquidated for debts. Unfortunately in either scenario, why would they look to someone with no income and no cash to take it over.
  Good luck and sorry I couldn't help. TC