If you were one of the people caught up in the frenzy of real estate, I may have a way or idea on how to get a house to flip, if you don't have the means for a loan on the property. If you have cash, then you are already ahead of the game. Cash is best. If you don't have cash, like myself, there is a couple of ways that you can still get a house, fix it up and sell it for a profit, without the hassle of a loan, mortgage broker, and appraisers. The house that I have pictures of here, is one of the ones I creatively fixed up and sold for a profit. So, how did I do it?

One way is to find a house where the house is empty, and the owner is desperate to get rid of it. What we did was to talk with the owner, and basically set up a contract with that owner to be a renter, giving her a monthly amount of $650. In the contract we listed the amount we planned to buy the property for, then gave her the estimate of what we would be spending on fixing it up, and the time it would take. After we fixed it up, we listed it for the price we wanted, and eventually sold it. To make this work, you really must find someone who is trust worthy, and also they must trust you to follow through on the work that is done. Once it was sold, the owner closed, and paid us the amount of the agreed price, closing costs, and commissions to all realtor's involved. A key also is if there is a realtor involved, they must be willing to wait until the house closes to be paid their commission.

Another way that we were able to fix a house was by taking over the payments of an owner who was desperate to move and hold onto her credit. Basically she was behind in payments, and wanted to move out of state. We go on title of the house, and paid the past due amounts, along with the monthly payment on the mortgage. We also had to agree with the owner that we would pay off the mortgage when the house sold. We did not pay her any extra, just the amount owed. We eventually sold the house, and made a profit. Again, we had to work with the realtor on getting her commission after the house sold.

Both houses worked out great for both parties, and everyone was happy. We made money, and helped out the sellers who were desperate to get out of their property. These days its almost impossible to get a loan for any investment property. Unless you have cash, the way to survive and still make money is to think creatively. The key is thinking it through, and taking a chance.

"Vision without action is merely a dream. Action without vision just passes the time. Vision with action can change the world!"- Joel Arthur Barker