Buy Notes With No Money - How To

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.

Elias didn't have $30,000. He called a local "hard money" investor, Marcus. how to buy notes with no money

Elias had exactly $42 in his bank account. To buy a note, he didn't need cash; he needed a and a wealthy partner . The mailbox was full of final notices, but

Elias called her. "Mrs. Gable, that note is a headache. You aren’t getting payments, and you don’t want to foreclose. What if I take it off your hands?" "I just want my $50,000 back," she sighed. He called a local "hard money" investor, Marcus

Asking the note holder to "carry the paper" while you work to resolve the property's issues.

"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'."

He secured an option to buy her note for $30,000 (a discount, since it was non-performing). He gave her $10—literally a ten-dollar bill—as "earnest money" to make the contract legal.