Buy your home in Orlando, FL with no money down, no credit checks and no bank financing from a property that is for sale by owner. FSBo, for sale by owner properties are out there with owner will carry financing.
Of course you’ll have to put in some work and stay on top of what’s available, but for a little sweat equity you too can get a dream property like Becky at Becky’s Homestead YouTube channel.
She’s having the time of her life, living with animals, a garden and an affordable log cabin in Florida.
There are several creative financing options that are taught to real estate investors, that buyers could use as well. Consider the following options.
Seven Seller Financing Types:
Buy a home subject to the existing financing
Lease with option to buy
Contract for deed
Free and clear (owner owns property and can do anything they want because they are the bank)
American dream (creative partnering on resources to make a deal)
Home swapping (trade homes to make a deal)
There are even more ways to avoid banks and still buy real estate, often with nothing down and no credit check. So, if you wish to buy property as an owner for your family, why not use savvy real estate investor techniques to your advantage. Sometimes you can do a deal on a handshake if that’s the code of the owner.
You’ve probably seen creative real estate investment gurus on TV selling their courses on how to buy a property with little or no money down and without qualifying for a commercial mortgage loan because it is true; you can!
In this 6 minute video tutorial, real estate investment trainer, Bill Bronchick, lawyer, lists several ways you can buy a home with little or no money down without getting a formal loan.
4 Strategies to Buy a House with Little or No Money Down
Master lease with option
Contract for deed or installment land contract
Wrap-around mortgage or all inclusive trust deed
Seller deeds out the property subject to the existing mortgage
The real estate strategies listed her are primarily from an investor’s perspective. For the regular home buyer, you could possibly make these strategies work for you as well.
This family homestead, located just 15 minutes from downtown Los Angeles, is an inspiration to us all. How can just 1/10th of an acre produce 6000 pounds of food in a season? Just watch the video and see how everyone works together to make this miracle happen in such a small space.
The Dervaes family grows over 400 species of plants, 4,300 pounds of vegetable food, 900 chicken and 1,000 duck eggs, 25 lbs of honey, plus seasonal fruits throughout the year. Some people might not produce this volume on 10 acres.
There is a mega-trend in America to get closer to the earth with lifestyle of working with nature and not against it. Consumers don’t trust Monsanto GMO crops, nor all the herbicide glyphosates it takes to grow the crop weed-free. In fact, America is one of the few countries in the world that hasn’t banned GMO for human consumption.
If you are seeking to own a homestead in the Orlando area, watch this video.
Remember Paul Harvey? And now the rest of the story with insight into the why one would take a tiny piece of land and make it an urban homestead.
This film features: Jules Dervaes, Justin Dervaes, Anais Dervaes and Jordanne Dervaes
Homegrown Revolution is a short introduction to the homegrown project that has been called a new revolution in urban sustainability.
In the midst of a dense city setting in downtown Pasadena, radical change is taking root. For over twenty years, the Dervaes family have transformed their home into an urban homestead and model for sustainable agriculture and city living.
Through the creation of the “Urban Homestead” the Dervaes family shows that change is possible — one step at a time. They harvest 3 tons of organic food annually from their 1/10 acre garden while incorporating many back-to-basics practices, solar energy and biodiesel in order to reduce their footprint on the earth’s resources.
Through the creation of the “Urban Homestead” the Dervaes family shows that change is possible,
Homegrown Revolution is a short film that was never created for a film festival circuit but has a true homegrown, homemade story behind its creation.
The original version of Homegrown Revolution was made in three days for a lecture Jules Dervaes gave at the University of California Los Angeles in October 2007 on the topic of Slow Food (SEE ORIGINAL VERSION: http://www.youtube.com/watch?v=89HRDn… ). It received a wildly enthusiastic response from the students and, subsequently, attracted an avid following on YouTube, with over 500,000 views to date.
This new version of Homegrown Revolution was created in 2009 and went on to screen at many film festivals throughout the world.
It is a collaborative project done by Jules, Anais, Justin and Jordanne with each member taking part in the filming, editing and structure of the film. No one had any previous film editing / filming experience but they hope the passion and enthusiasm of their lifestyle and project show through any technical flaws.
Made in-house on computers powered by solar/green sources. All transportation was done in a biodiesel-fuled car and All camera/mic batteries were rechargeable and charged with solar energy. Waste was kept to a minimum — paper composted or recycled and all publicizing materials printed on post consumer paper.
For those really looking to save time and money in building a new dwelling, you could go with an open source design by a boat-maker where one builds the roof and walls like turning the hull of a boat upside-down.
With this structure, you probably don’t have any amenities, but it could keep you dry and protect you from some of the elements and pests.
If you are sick of renting and lining the pockets of your landlord or bank, you might be willing to go for a simple structure. If freedom is more important to you than having the latest iPhone, this may be a path you wish to follow. One YouTuber with a channel called, DirtPatchHeaven says she and her husband have been able to get their expenses down to $530 a month. She rambles, but here it is:
If you’ve been checking out this website because you live near Orlando, Florida, it is possible that you’ve been attracted to this site because you pursued the American Dream with credit. You did everything the main stream media and commercials said and now you are living in debt, stress and you are ready for a change.
It is amazing how little you can live on if you become zen-like and just let go of trying to live the Hollywood lifestyle that has been indoctrinated into your brain.
The videos in this post are simply to get you to unplug and think of a new way of living. We applaud those that eliminate banks for mortgages and find a down to earth person that owns property and can sell it to you without a credit check and way less stress.
Focus on what matters, quit chasing the illusion at the expense of your sanity, health, spouse, family and love of life.
If you grew up in America with parents born in America, the odds of you living below your means is rare. Many Americans spend 110% of what they make every year by putting everything on credit. When buying a car, the question becomes, how much is the monthly payment. If one can afford it, they sign on the dotted line and commit themselves to a 6 year loan on vehicle that could depreciate 25% as soon as you drive off the dealer’s lot.
The greatest generation experienced scarcity and hardship so they wanted to live on cash, not credit. As credit and advertising have exploded in the United States, the country has gotten soft. They want the minimum payment with no worries to the total principle and interest over the time of the whole loan. When a borrower commits to that, they screw themselves out of thousands and thousands of dollars over their lifetime.
The borrower becomes the servant of the lender. Or in more eye-opening words, the borrower becomes a slave to the one that loaned them the money.
Down to earth, Becky, in the video above, suggests that you take out no more than a 10 year loan for your house. If you are willing to live with less, you will have more freedom in areas of your life which might become much more important over time.
Your values will likely change as you get older. At first, you want it all, then later in life, you realize that everything you own, really owns you. Many ambitious people realize in their 50s that they want to downsize and simplify their life.
You can go to the MLS to find FSBO (for sale by owner) properties. However, finding FSBO homes for sale is only half the battle if your credit is less than stellar and you have the hope of seller financing with no credit check and no banks, then you’ll also need owner financing.
One can contact all the available houses being sold by the owner and ask if they are willing to carry the note for a while, or you can go to where they are advertising. Say you have a solid income and you live below your means and you have just inherited some real estate that has no mortgage on it. You may see the sale or rental of the property as icing on the cake because you really don’t need that stream of income.
Most unsophisticated sellers that are willing to not only market their property by themselves, but also offer the buyer financing frequently turn to online classified sites like Craigslist or some form of online classified advertising. So, if you’re looking for a for sale by owner property where the current owner will carry the note and mortgage themselves, try classified ads online.
If you own a house free and clear, then you are an ideal seller to consider carrying the mortgage for the buyer. Essentially, you become the bank for the buyer and you’ll likely be able to sell the house quicker because getting qualified for conventional financing takes considerable time and paperwork.
With you being willing to finance the property for the buyer, you call the shots. If you want 20% down, ask for it. If you want to move it quicker and feel comfortable, you could lower that down payment to 10% or even lower. You’re in the driver’s seat. In fact, you can be as flexible or creative as you want.
Reasons You Would Want to Seller Finance a Home:
You have control of the deal
No waiting for loans that fall through after a lot of time has been invested in a deal
You can make more money from the deal
You can sell the home much faster
You greatly increase the size of your market
Drawbacks of Owner Financing Real Estate for Buyers:
The buyer could pay inconsistently and create stress for you
The buyer could default
The purchaser could not only default but also damage the property
Foreclosure takes time and you could lose some money in the process
The process of getting the house back could be emotionally stressful
The most common method of getting total control of your house again after someone defaults on an owner financed property is most typically called foreclosure. You have to follow you local laws to carry out a foreclosure properly and it usually takes a few months. Every location has similar laws in concept, but you have to follow the laws according to where the house is located. Consult a legal professional for details.
Creative Solution to Avoid the Foreclosure Process: Deed in Lieu of Foreclosure
Say the whole idea of going through all the proper steps of foreclosing on a buyer that doesn’t live up to the payment agreement, you have the legal power of foreclosure. Of course you could foreclose as most uneducated investment drones do, but there is a much faster way to get control of the property with little stress. In fact, the technique is so powerful and so simple, you might be surprised this option may be available to you.
Usually buyers of owner financed houses are more eager than people that go through the lengthy process of getting pre-qualified to buy a home because just the thought of applying for a commercial bank loan exhausts them or maybe they don’t have the best credit because of a divorce or other hardship. It doesn’t mean they won’t be ideal buyers, it just means they might be even more grateful that you’re offering to carry the note and mortgage rather than a cold institution. So, up front, explain that in case of default, you won’t be using foreclosure, but rather you’ll have a neutral party, usually a lawyer, hold the deed for you protection. If the buyer doesn’t pay, the lawyer can file the deed and you have your house back quickly in your control. It’s much faster than pursuing a foreclosure.
Always consult a qualified attorney, this post is simply to stimulate ideas.
You can buy a house and go the conventional route using a real estate agent to find the property and show the property, then going to a conventional lender like a commercial bank then submitting yourself to all the reams of papers to fill out and if they say ‘jump’, you’ll need to say, ‘how high’.
Good news, there is a market where many things can be done on a handshake, rather than having to qualify for commercial lending. There are many down to earth owners that own land, farms and residential houses free and clear. They can finance the property based on a hunch or whatever criteria they decide on. Usually, they are much more lenient than going to a bank. These owners are in the minority, but they can change your life if you have bad credit or just want less hassles while purchasing real estate.
Many FSBO (for sale by owner) properties are offered by salt of the earth people that live below their means and therefore, they can offer to become your private bank. If you can get one that likes you and is very flexible so that they are willing to carry the note for 10, 15 or 30 years, you may have struck gold. Many of them will make a decision if you are credit-worth just by talking to you and their own belief in the gut feeling and intuition.
Other owner financed homes have an owner willing to carry the loan for 1 to 5 years, but they are looking for someone to qualify for conventional financing after a window of time. Just be vigilant and find the right kind of seller for your needs.
Do searches for FSBO properties, for sale by owner homes, owner will carry, lease option, rent to own, lease to own, lease with option to buy and option subject to the existing financing.
If you are a seller and wish to learn how to carry the mortgage for your buyers, your home will likely sell faster, but you should educate yourself on the best ways to do so and consult a real estate lawyer to protect yourself. You can also visit create real estate investing sites and see what’s working for other sellers.
If you are a buyer, you could be rewarded for seeking out the perfect fit for you and buy a home without ever subjecting yourself to a formal credit check and the stacks of forms you have to fill out to get a bank mortgage. You could find a seller that might even give you more of a grace period to make your payments if you hit a rough spot.
Do you still want a conventional loan? Watch the video below to aggressively look for commercial financing.