Chapter 5
Fast Money: Small Down Payments and Property Flips
IN THIS CHAPTER
Debunking no-money-down strategies
Choosing the best fast-money strategy
Uncovering those buy-and-flip properties
The only thing better for a small-time investor than getting rich is getting rich quickly. Entire books have been written about hitting the real estate big time with little money to invest through buying and flipping properties to turn quick profits.
Does this scenario sound too good to be true? Of course it does! In rare cases, these strategies have proven profitable — but those success stories are few and far between. That’s why we warn you in this chapter about the realities and truths of the get-rich-quick-and-with-little-money sales pitches, and we offer our best advice to guide you in case you choose to walk these dangerous paths despite our warnings!
Purchasing with No Money Down
If you’ve ever had insomnia and turned on the television in the middle of the night, you’ve likely seen the late-night infomercial real estate gurus who claim to possess the true secrets of buying real estate significantly below market value — and they don’t even use their own money! They tell viewers that ...
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