What if I told you there was a way to profit from deals with no liability, no risk of money, no credit required, and no obligation on your part?
Sounds good right?
Well, it’s not totally true…
You could risk a whopping $10 bucks.
Yep, that’s all it takes to get into a profitable real estate deal and you’re not asked once about your finances, about your credit, nope, none of that…
The method is using Options.
Yes, Options are a powerful way to leverage real estate to get paid mega bucks without any financial obligations on your part.
Options simply give you the right to purchase a property at a set price for a certain amount of time. The Option to buy does NOT obligate you to buy, it simply gives you the option.
Now, on the flip side, if you’re the seller giving the Option, you are obligated to sell the property to the buyer if they exercise their Option within the allocated time frame.
Now, imagine for a moment, the potential by simply getting Options on properties in your own area, then reselling them for enormous profits and the only time you go to the bank is to deposit or cash your check…
Why would someone, give me the option to buy their house?
Well, until you’ve been a motivated seller yourself, it’s hard to explain. When people have some underlying situation, they need you and they need your help.
It’s all about how you position yourself. If you go into the deal thinking, “Boy, if I could just get this option” then you’re going to be eaten alive.
You’ve got to be confident and realize the seller needs you more than you need them. If the seller is in any way motivated, they’ll want you to do everything you can to get the house sold so they can move on with their lives.
Do options work for everyone?
You’re looking for the handful of motivated sellers it will work with and the others may need some other creative method to getting rid of their house.
What’s great about options is you could have as many deals in the works with literally no liability and minimum money on your part, all while you crank up your marketing to find buyers for your deals. This method works regardless of area, regardless of appreciation, and regardless of the price of the property if you’re getting leads from sellers that are motivated.
Now, why I did I say you could risk $10? Well, $10 is all you need to give your seller to make the deal legally binding. It’s called legal consideration and without it the seller could later claim they didn’t get any consideration for the option. So, whenever you get an option to any property, be sure to give the seller $10 to seal the deal.
By Martin Fisher