The Real Estate business has really helped me to take care of all my financial needs.
The secrets that I learned and continue to teach you have made hundreds of thousands in profits for me and my students.
I believe that the secret to true wealth lies in the thinking small.
That is how I grew my business and that is how I want you to grow yours.
However, there will come a time when you will get a call from someone who has a Multi-Million dollar property for sale and you are not sure how you can help the seller.
You can take title to the property Subject-To the existing mortgage. But how will you make the payments if you need to some time in the future?
You can put the house under contract and hope to find a buyer withing 2-3 months. But do you have anyone on your buyers list who can afford it?
You can find a private lender who will put up the money to buy the house. Can you imagine the interest that would accumulate on a million dollar house?
What option do you have? (No pun intended)
You guessed it. Option it!
Did you know you can actually put an OPTION contract on a multi-million dollar house and sell it?
Yes, you can actually profit on a house that you never even owned.
Kinda like wholesaling but with much bigger profits.
I talk about this in more detail in my new book that will be out this spring.
It is simple. . . . . really.
You use an Option To Purchase contract that looks identical to a Standard Purchase and Sale Agreement.
This agreement gives you the authority to market and sell this house during the option period and keep the profits.
Here is a good example from a good friend of mine:
- House is worth $6.5 Million.
- Seller agrees to sell on an option to my friend for $2.8M
- My friend options for one month and sells at auction for $5.2 Million.
The seller got his $2.8 Million.
The buyer gets instant equity of $1.3 Million when he buys it for $5.2 Million.
Win - Win - Win.
My friend walks away with a check for $2.4 Million profit.
All of this without ever owning the property.
P. S. Oh yeah, I forgot to mention, my friend put up $100 as an earnest money deposit for the option. Not quite No Money Down, but in his case, with an extra $2.4 Million in his pocket, do you really think he cares?
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