[VIDEO] 7 Ways to Make $7k in the Next 30 Days

The most common question I get is: “How do I make cash right now in real estate? Oh, and by the way, I have no money to put down and my credit is horrible!”
Okay, not impossible, but it will take hard work, dedication, and learning a few tricks I have up my sleeve.
Here are 7 creative techniques for generating cash quickly without starting from much.

1. The Wholesale Fixer

Find a “fixer” property that needs a lot of work, but is priced accordingly. Get it under contract for 70% of ARV less repairs, then flip it to another investor.
Where to Find: MLS, probates, “free and clear” owners
What to Watch Out For: Banks won’t let you assign their purchase contract.

2. Wholesale Rental

Find a property that would make a good rental, and flip it to a landlord. Usually it’s a “starter” home that’s on the cheaper side and doesn’t need much more than carpet and paint to make it a fine rental property.
Where to Find: MLS, other landlords
What to Watch Out For: Sewer line, roof, or structural problem will push repair costs too high to make it worthwhile for a rental.

3. Sandwich Lease Option

Lease a property from the owner with an option to buy, then sublease to a tenant, giving him an option to buy for a higher price. When tenant is ready to buy from you, exercise your option to buy from the seller, and double-close the deal to the tenant.
Where to Find: Properties for rent, listed as “For sale or rent”
#1 Thing to Watch Out For: Don’t make payments directly to seller and trust him to make it to his bank. Instead use a third-party escrow company to service payments.

4. Subject to, Lease Option

Have a seller who is highly motivated and has little equity deed his property to you, subject to the existing mortgage. Then, lease to a tenant with an option to buy. More favorable than #3 because if you have title to the property for more than 12 months before the tenant buys, the profit is a long-term capital gain, which means a lower tax rate.
Where to Find: Properties in default or in foreclosure (May require you to make up some back payments)
What to Watch Out For: Seller has undisclosed liens on the property. Do a title search before proceeding.

5. Wrap/Rewrap

Buy on a wraparound installment land contract, mirroring the seller’s loan balance and payment terms. Then, resell on a wraparound installment land contract, marking up the price and interest rate.
Where to Find: FSBO seller who has very little equity or advertising “for sale or rent”
What to Watch Out For: Don’t make payments directly to seller and trust him to make it to his bank. Instead use a third-party escrow company to service payments.

6. Flip a Mobile Home

Buy one cheap, fix it up, sell for cash. Works best on older homes that are cheap because few people have the cash to buy a $40,000 mobile and few banks are lending in this arena.
Where to Find: Put fliers out in mobile home parks
#1 Thing to Watch Out For: Your buyer may not qualify for the mobile home park lease!

7. Buy, Wrap, and Sell Note on a Mobile Home

Same as above, except sell on terms at a much higher price and take back a note. Then, sell the note at a discount for cash to another investor.
Where to Find: Put fliers out in mobile home parks
What to Watch Out For: Your buyer may not qualify for the mobile home park lease!
CLICK here to subscribe to our mailing list and get unique, fresh content like this delivered right to your inbox.