How to Invest in Real Estate with No Money and Bad Credit with Lease Options - Episode #1
Рет қаралды 75,952
Күн бұрынLearn How to Invest with Lease Options | Lease Purchase | Rent to own
THIS LEASE OPTION TRAINING SERIES CONSIST OF 7 EPISODES.
WATCH EPISODE #2:
• How to Invest in Real ...
How to Control Real Estate with Little to No Money Down with Lease Option Investing. My 10 Executable Step System walks you through each step, so you know what to do, how to do it and why you’re even doing it.
Why Lease Options?
• You can pay the seller up to full price
• Work with nice houses in nice neighborhoods
• Little to no equity homes are perfect for this strategy
• Less competition than traditional wholesaling and rehabbing
• No money or credit needed
• Generate 3 ways to profit on each deal = 3 paychecks per deal
• Your buying power is not limited to your cash reserves or credit rating
• Great for beginners/phenomenal for experienced investors
Recommended Videos:
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► Wholesaling Real Estate: • First 3 Steps to Whole...
► Lease Option Investing: • Lease Option Benefits ...
► Seller Financing | Sub2’s: • How to Structure a Sel...
► How to Invest in Pre-foreclosures: • How to Buy a Pre-forec...
► Rehabbing Real Estate: • Save $40K on Your Next...
Popular Videos:
► How to Run Comps in all 50 States: • Running Comps for Whol...
► How to Clean Your Real Estate Lists: • How to Clean Your Real...
► Wholesaling Pre-foreclosures: • How to Wholesale Pre-f...
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► Running Real Estate Comps: www.myreipro.com/
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👁 Who is Chris Goff?
Chris Goff started Real Estate Investing in 1999. Chris didn't have any money to work with, so he was interested in learning 'no money down' real estate strategies. Since then, Chris has spent the last 2 decades building wealth in real estate along with building the #1 Real Estate Investing Software Program for Real Estate Investors… REIPro.
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#leaseoption #leasepurchase
@hawkeyehowardinvesting3530 2 жыл бұрын
Great video! I’ve been able to do 9 of these lease option deals over the last few years! It’s a great strategy and I’m constantly looking for more!!
@ChrisGoff 2 жыл бұрын
That’s Awesome! Thanks for the comment.
@velwear 2 жыл бұрын
Awesome information Chris. This was definitely 🔥
@ChrisGoff 2 жыл бұрын
Appreciate it!
@firstladyj173 4 жыл бұрын
Hi Chris first time listening to you I’m going to subscribe to your channel and yes I did hit that bell I’m going to replay everything you have said until I get what you’re saying and then I’m going to give it a try and then I’m going to post if I make it
@ChrisGoff 4 жыл бұрын
That's Awesome!
@nidiaperezperez8582 4 жыл бұрын
Que.un.soplo.divino.del.sr.destrulla.esta.pandemia.que.esta.destrullendo..ha.los seres.humanos.
@carlrandal9951 4 жыл бұрын
Thanks Chris!! You always break this down in such an understandable and useful way.
@ChrisGoff 4 жыл бұрын
You are very welcome!
@mattheweverett3038 3 жыл бұрын
Need more detailed coaching; how does one obtain this? What if the house needs a new roof or a/c? What about the inspection prior to closing,? etc
@ChrisGoff 3 жыл бұрын
You can email us at: coaching@myreipro.com and we can send you some details on our coaching programs.
@milesd16 3 жыл бұрын
Now, does it have to be a off market property? Or can it be a property already listed mls, maybe under priced and listed for awhile, I put it under contract, then re rent or sell for higher price?
@ChrisGoff 3 жыл бұрын
They can be on or off market properties. Just easier when not listed on the MLS
@debrahuynh4574 4 жыл бұрын
Hi Chris I have a townhome. Lots of people want to rent but no one wants to put a non-refundable down payment. What do you suggest I do?
@ChrisGoff 4 жыл бұрын
My first answer is to find someone that will, otherwise they won't ever be in a position to buy.
@timsikkenga301 24 күн бұрын
What happens if you have to foreclose on the property. You have to pay holding costs through the foreclosure process. You also have to pay holding costs until you can resell the property again. What happens if the market takes a down turn and now you are upside down on the house. Also how strong are the laws to help you foreclose if you only control the property and don’t actually hold the deed? I understand the laws vary from state to state so this is a generalized question, and it is possible you addressed these issues in other videos. Thanks
@ChrisGoff 22 күн бұрын
Just to be clear, you can't foreclose on a home you don't own. The owner could go through foreclosure while you're in the middle of the deal. This would be a great video to do in the future that will answer all of these concerns. Thanks for posting!
@homesolutionsalternativesl2390 3 жыл бұрын
Hello, I’m going to get a contract sign today. I bought the lease option agreement in Reipro however I’m a bit confused .. it has security deposit on there that’s suppose to go in the trust for damages and there’s a option consideration non refundable that is to be credited at closing so is that Aka down payment that you spoke about in the video? Or is the security deposit the down payment? I want to make sure I’m cleared on the 3 profits. Thank you!
@ChrisGoff 3 жыл бұрын
The 'Option' payment is the down payment. The security deposit (not required) is a refundable deposit if they take care of the home and don't buy. This would be in addition to the Option payment. I like to use it to make the contract more legit to a judge. (Most lease agreements have a security deposit section) Hope this helps
@homesolutionsalternativesl2390 3 жыл бұрын
@@ChrisGoff Perfect! Thank you
@richcascio 4 жыл бұрын
Chris where do you get the contracts? Does the title company write up the documents at closing?
@ChrisGoff 4 жыл бұрын
The ONLY contract you need is in REIPro in Step 5 or your Office section of REIPro. That's it, no complicated moving parts. 1 Contract for the seller and buyer.
@IsraelA1234 10 ай бұрын
@@ChrisGoffand if you dont plan on getting reipro how does one get the contract for both buyer and seller??
@ChrisGoff 10 ай бұрын
@@IsraelA1234 you can have an attorney draft one up or purchase it on other online legal sites. Just be sure that you have the disclosures in them.
@saschafischer7400 3 жыл бұрын
Chris I was watching the 3 series training but can't find 2 and 3?
@ChrisGoff 3 жыл бұрын
We have all 7 episodes available to REIPro members in our Education section. If you would like to watch all episodes, you can sign up for a free trial at: www.myreipro.com/
@richcascio 4 жыл бұрын
How is the debt going down? If you bought with a lease option you have a fixed price from day 1 and stays the same if you cash out 10 years from now....Right?
@ChrisGoff 4 жыл бұрын
The debt for the seller is going down, not the investor unless you receive monthly credits from seller. Hope this helps!
@jimwalls1266 2 жыл бұрын
when you do lease options what the best way to setup payments from you to seller and from buyer to you or from buyer to seller if you leave the deal and is there paper work for that is there a way you can do it online payment
@ChrisGoff 2 жыл бұрын
Everyone does this a little different and I wouldn't say there is a best way. However everyone wants their payments, just add this language to the contract.
@jimwalls1266 2 жыл бұрын
@@ChrisGoff now thought I heared you say some were not to take a checks
@ChrisGoff 2 жыл бұрын
@@jimwalls1266 I don't personally like checks but some investors do. Cashiers check is ok or set it up online. They are so many ways to make payments.
@jimwalls1266 2 жыл бұрын
@@ChrisGoff ty
@homesolutionsalternativesl2390 3 жыл бұрын
What if seller is in arrears in their mortgage , would I need to get a down payment from tenant-buyer that covers that minimum amount?
@ChrisGoff 3 жыл бұрын
You would need the buyers down payment to cover the back payment amount but you may want to focus on the pre-foreclosure strategy instead. I would be nervous that the seller would not make their payments if they're already behind.
@homesolutionsalternativesl2390 3 жыл бұрын
@@ChrisGoff Ok thank you!
@jsmith6600 4 жыл бұрын
I love the video chris, but for inexperienced investors can you go over filling out paper work in-depth
@ChrisGoff 4 жыл бұрын
We will in future episodes in REIPro. We'll actually go into extreme detail.
@jamesfrazier4650 4 жыл бұрын
Hello Chris! Thanks for all you do! Who pays the property casulty insurance on the House?
@ChrisGoff 4 жыл бұрын
Seller still owns the house, so they are responsible for all required insurance.
@EuphoryaRealty Жыл бұрын
Chris how do you compensate a realtor who gives you expired listings?
@ChrisGoff Жыл бұрын
Pay the commission upfront or work out some other way to pay the commission. It won’t stop the sale.
@EuphoryaRealty Жыл бұрын
@@ChrisGoff thank you.
@ca3713 3 жыл бұрын
What can you do in 14 days of a free trial with REIPRO? LO,Wholesaled,Probates?
@ChrisGoff 3 жыл бұрын
First and foremost, you should evaluate the system and make sure it's right for you. Then start working deals and the fastest deals will be wholesaling and lease options.
@debrahuynh4574 4 жыл бұрын
With the pandemic, how are people willing to be tenant buyers?
@ChrisGoff 4 жыл бұрын
People always need a place to live and there are more tenant buyers now than ever before.
@jeffonpeoples703 4 жыл бұрын
Is Cincinnati, Ohio covered in REIPro?
@Tommy06289 4 жыл бұрын
it's covered everywhere. I'm in Cleveland, OH and have it
@richcascio 4 жыл бұрын
@@Tommy06289 is it working for you Tommy? Are you doing sandwich or wholesale lease options?
@ChrisGoff 4 жыл бұрын
All 50 States are included.
@alexandermorgan3360 4 жыл бұрын
What is the release schedule of this series? I just see this first episode right now correct?
@ChrisGoff 4 жыл бұрын
Yes, Episode 1 is public and the remaining episodes are scheduled in REIPro. Friday is the next release date for Episode 2, and so forth. Hope you can join us.
@richcascio 4 жыл бұрын
Chris how long do you usually make payments until you can find a tenant-buyer?
@ChrisGoff 4 жыл бұрын
30-90 days... and I will explain this in the upcoming episodes in REIPro. Hope you can join us.
@ca3713 3 жыл бұрын
Chris,I thought you don’t make the payment until you find the buyer this should be discussed and written in the agreement.
@hawkeyehowardinvesting3530 2 жыл бұрын
@@ca3713 Exactly I’ve never made a payment until I have the tenant/ buyer locked in and have received their money.
@antwanstevens5259 3 жыл бұрын
AMAZING as usual Can this be translated? Into other languages
@ChrisGoff 3 жыл бұрын
Thanks! I'm sure it can be translated but not sure.
@antwanstevens5259 3 жыл бұрын
@@ChrisGoff I'm in Southern California So I was thinking about this video Plus "Spanish marketing material" Whether it's post cards, Business cards and or websites!! Either way what you guy's provide needs to be shared!!
@ChrisGoff 3 жыл бұрын
@@antwanstevens5259 I've had several people ask about this before. Will have to see for future videos. Thanks for posting.
@petertorrance7928 4 жыл бұрын
Really enjoyed that.
@ChrisGoff 4 жыл бұрын
Awesome!
@ButterflyAboveTheCloudsMusic 3 жыл бұрын
Watching now
@ChrisGoff 3 жыл бұрын
Awesome!
@ButterflyAboveTheCloudsMusic 3 жыл бұрын
@@ChrisGoff 😘😍😘😍😘😍😘
@Rock-wh7wg 4 жыл бұрын
You were interviewed by Brain Tracy who is one of the best WOW!!!
@ChrisGoff 4 жыл бұрын
He is an awesome person that truly cares about people. It was an honor!
@desireeburtley8029 4 жыл бұрын
@@ChrisGoff 9 9 99999999990
@shermanearlsr1653 4 жыл бұрын
Chris will you cover subject 2 in the near future
@jsmith6600 4 жыл бұрын
This is basically the same thing, subject to is simply a sentence in a "wrap" or wrap mortgage. Lease option=wrap
@jsmith6600 4 жыл бұрын
Sub 2 is only a acquisition strategy
@ChrisGoff 4 жыл бұрын
Yes, I will be doing a Seller Financing Series in the near future. I see a lot of people that confuse Sub2 as a strategy, but it's actually a sentence in a wrap-around mortgage used in seller financing. Also to add to J Smith's comment, Seller Financing is completely different than a Lease Option and a Seller finance can be used as an exit strategy too. Hope this helps and Stay Tuned for my upcoming series.
@lonestarr1707 4 жыл бұрын
@@ChrisGoff are you doing any live events In ATL or classes??
@ChrisGoff 4 жыл бұрын
@@lonestarr1707 Sorry, we can't do any live events because of COVID-19 but are looking to do a virtual event this summer. Stay tuned for more details.
@zain_mood 4 жыл бұрын
What would you do with $1200 dollars?
@ChrisGoff 4 жыл бұрын
I would get REIPro, make phone calls, send some direct mail and follow the steps to turn $1,200 into $5K. Then duplicate system.
@marisabel407 4 жыл бұрын
great info, like the idea, known of it but never dared to try it.
@ChrisGoff 4 жыл бұрын
Good time to start, thanks for the comment.
@Dahmer_Jeff 4 жыл бұрын
Gold. Ty sir. Everything makes sense
@ChrisGoff 4 жыл бұрын
Awesome and thanks for the comment!
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