How to Buy and Sell Real Estate Without Using a Bank
In his first book, “The Highest and Best Real Estate Investment”, Mike Watson teaches his entire 10-step program for real estate investing success called, “The Foundation to Success”. He gives you the ins and outs of how to find a property that is not being used for its “Highest and Best” use. He then provides detailed instructions on how to buy, change the use and sell the property for a profit or keep it in your long term portfolio for cash flows and equity positions.
In this book, “How to Buy and Sell Real Estate without Using a Bank” Mike teaches you the very fine details regarding Step #5 of his “Foundation to Success” (Buy the property using the 2 OPM’s). The 2 OPM’s are, “Other People’s Money” and “Other People’s Mortgages.” His techniques in this book include advanced seller financing, green mortgages, the 4-offer spreadsheet, bank seller financing and much more.
Mike has learned his methods by implementing them personally. Due to this, you will learn ways to buy properties that are not taught anywhere else. You will learn how to help seller’s in distress and even assist banks with their current credit issues all the while picking up deal after deal at pennies on the dollar without having to go through the full mortgage process!
If you have any interest at all in taking advantage of the incredible opportunities available in the real estate market today, then you must read this book!
User Ratings and Reviews
5 Stars Investor’s New Finance Bible
This is a must read for any serious real estate investor. In today’s banking environment and in using “traditional” purchasing methods of putting the loan in your name and coming up with a 25% down payment, you quickly become very limited in the number of investment properties you can acquire in your portfolio. With Mike’s strategies, an investor is given a template to skyrocket their investment portfolio without risking their credit or use their own money. Are you tired of crawling on crushed glass for three miles to try and please the bank only to be denied? There is a better way. This, in my opinion, is “The Investor’s New Finance Bible”.
5 Stars Without “using” the bank?
Quite the contrary… Mike definitely “uses” the bank, just NOT in the traditional sense. Instead, he teaches you how to use the bank’s obvious distress to create win/win deals (thinking outside the box). See, the banks need to rid themselves of these “toxic assets” as we all know and Mike shows you how to purchase these properties with terms. Example: “Use” the bank to seller finance the properties to you OR make them assumable to you (or SOMEONE ELSE) OR let you “wrap” the loans but only if the bank agrees to waive the due on sale clause… Time is of the essence as banks will not allow these techniques forever so you best get this book and take advantage of these incredible opportunities NOW! Lastly, the “four offer spreadsheet” mentioned in the editorial review is one of the best tools I have ever used period. Get it, learn it and use it. You’ll love it!
5 Stars Make More Money Than Your Wife Can Spend !!!
Mike has an amazing grasp of OPM. His concepts regarding raising capital from other peoples money are the holy grail of financing your real estate transactions. When you get this, you unlock the vault to make any deal a winner. When you can buy any property without using a bank, you have a portable business system with the freedom and flexibility to put anything together. Find the property and the money appears. Everyone wants to know how to get funding without qualifying, without years of pay stubs, tax returns and personal guarantees… This is it !!! Mike has been up on the mountain and he’s come down to share the TRUE WISDOM. These financing concept will make your head spin and bank accounts swell with profits. MUST READ ! I can hardly believe he was able to put in all in one volume !!!
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