Barbara Swafford of Blogging Without A Blog and Observation Mountain left a comment the other day on Part 2 of this series I felt required a more in-depth response than a quick comment.

She wrote the following:

One thing that I saw (as a Realtor) was when parents or a close relative would loan money to the buyers for a part of the down payment. If I remember right, any money that was loaned by others, had to be treated as a “gift”.Aren’t there also situations where the buyer agrees to pay more for the house (on paper), and then the seller agrees to pay the closing costs (and maybe the down payment?) out of the excess “proceeds”?

I’ve also heard of new carpet and/or new paint “allowances”. Does that “credit” get used as part of the closing costs or…, how is that handled? Or…….is that going to be covered in your next lesson?

The important thing to remember is every bank is slightly different.

Image by Ol-Jerr

In today’s slow real estate market, Realtors and sellers are trying anything to capture buyer’s attention. A quick flip through your real estate for sale section in the local newspaper and you’ll find no shortage of ads that read “0 down.”

These attention-grabber ads are usually meaningless and only used to capture a lead . . . you.

Try calling on one of these ads and inquire about the 0 down option. Without a doubt the answer you’ll get from the listing agent is the 0 down option is based on a certain credit score and lender approvals.

What a waste of your time. I could of told you that and I don’t even know you.

Today I’m going to show you a few real methods of buying a house with little or no cash out of your pocket investors use every day.

Some of these your Realtor will say, “no way” and lenders will not accept.

I really tried. I did, really.

I tried to fit this topic all into one post. But as soon as I stared down that blank digital canvas I said, no way.

I live in one of the riskiest markets around in the US these days, Las Vegas, Nevada. Foreclosure rate is high and job growth has slowed.

People are afraid to buy a house here because they are afraid they will lose money and in no time at all be upside down on their house. They feel buying a house right now is too risky. And the uninformed ones are right, it is too risky - for them.

Informed investors, on the other hand, know there are investing techniques for every kind of market; slow, medium, hot - it doesn’t matter to them. They understand that good house buying techniques go beyond simply getting a low price.

It’s 11:59pm and I can’t sleep. I have the type of mind that rolled off the production line it seems without an off button.

I maintain control over the content on eVentureBiz. I like that. It’s not the typical web development company or hosting website that looks like one big ad that never changes. Some parts do stay the same but other areas, such as The Relax Café and my blog, are areas I’m always thinking about and updating.

We’re also about to launch a host of other services such as web design, content writing, logo design, incorporation services, and more. Obviously, you can see why my mind never turns off.

So is the life of an entrepreneur.

Yes, this blog is about learning how to think and grow as an entrepreneur. And I don’t just mean you learn and grow, I’m included in the equation.