Elias had exactly $42 in his bank account. To buy a note, he didn't need cash; he needed a and a wealthy partner .
Finding a discounted asset and bringing it to a hungry investor for a fee.
"Marcus, I have a $50,000 note on a property worth $100,000. I have it under contract for $30,000. Give me $35,000. You get a secured note at a massive discount, and I keep $5,000 as a 'finder’s fee'." how to buy notes with no money
You aren't buying the note; you are buying the contract to buy the note, then selling that contract to someone with cash.
Elias walked away with $5,000. He had "bought" the note and sold his interest in it without ever touching his own bank account. He took his $5,000, went back to his spreadsheet, and looked for the next zombie. Key Takeaways for Your Draft Elias had exactly $42 in his bank account
Elias drafted a simple agreement. He didn't buy the note with cash. Instead, he used a or Wholesale strategy:
Elias didn't have $30,000. He called a local "hard money" investor, Marcus. "Marcus, I have a $50,000 note on a property worth $100,000
The mailbox was full of final notices, but Elias wasn't looking at his own mail. He was looking at a spreadsheet of "zombie" properties—homes where the owners had disappeared, leaving the bank or private lenders holding a piece of paper that wasn't paying a dime.