Let's face it, there is a lot of "hype" in the Real Estate Investing World and no shortage of big promises like that of the Mortgage Assignment. In fact, I can not tell how many real estate investors I see that get sabotaged before they even get started, trying to avoid all the high priced "noise" that's out there especially when it comes to the term "no money down investing. "
So when I put up a headline like "No Money Down Real Estate Investing" I fully expect, and even encourage you to take it with a grain of salt.
After all, I do not want you to end up with a heck of a lot of money on your credit cards like I did getting educated about no money down investing strategies.
That stated, I can tell you with a completely straight face that there is a legitimate No Money Down Real Estate Investing Strategy out there that works. Honest!
This is called the Mortgage Assignment or Mortgage Assignment Profits System (Maps) pioneered by Real Estate Investing Guru Phill Grove from Texas.
The mortgage assignment concept is a simple solution to two huge problems
No Money Down Investing Problem 1
The decline of the housing markets has caused a situation where millions of homeowners find their homes within 5% one way or another of their existing loans.
Due to loss of jobs, reductions in pay, or job relocation, a ton of these owners need or want to move.
The trouble, their homes have no equity and are not able to absorb the roughly 8% contracts / closing costs when selling a home. These fees which would equal $ 16,000 on a $ 200,000 house would have to come out of the sellers pocket. They can not afford it.
No Money Down Investing Problem 2
The lending squeeze by banks has created a situation where millions of would be home buyers, who used to qualify for loans, no longer get bank funding.
Regardless of what the bank says, the desire to live the "American Dream" and own your own home has not vanished and yet has the hope for real estate investors to find a way to do legitimate no money down investing.
No Money Down Investing Solution
What if you could take the sellers who can not sell their homes, and pair their homes and current loans with the buyers who can not buy a home?
That would solve both problem, and since you as the investor just arranged the transaction, you have spent none of your own money; a true no money down investing deal.
This no cash down investing technique is what Phill Grove has done with Mortgage Assignment Profits System.
He has devised a legal, and ethical no money down investing way for the investor to pair the seller and buyer together, while receive the down payment as a fee which 5% to 20% minus closing costs.
Not a bad day's work!
In a nutshell, this is how the mortgage assignment; a honest to goodness no money down strategy works …
Source by J. James