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Is it really possible to purchase real estate without using your own money?
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[QUOTE="Caramelle, post: 213093, member: 150"] [JUSTIFY]I've read about this method a long time ago and you can probably do it even if you're not a Canadian. The trick is to find a property for sale that you know will be quickly saleable. The next step is to talk to the owner of the property about your desire to purchase it and to ask for information like the selling price and some documents like a photocopy of the title for checking. You can also haggle with the owner at this stage. Once you have all the details you need about the property, you can start selling it actively to potential buyers. If you're credible enough, you can ask for a downpayment and use that to seal the deal with the seller. When the buyer pays in full, you can pay the seller in full and keep the rest to yourself. I In this scheme, you don't actually take ownership of the property as that would be too tedious and costly with all the transfer fees and transactions. Another way of going about it is by actually taking a mortgage on the property and quickly selling it to interested buyers at a profit. Once you get the full payment from the buyer, you can use it to pay off the mortgage. We can do this through our government housing agency because they don't really charge us for pre-terminating the mortgage. Some banks will likely charge you for prepaying so that's one thing to check before you take out the mortgage. [/JUSTIFY] [/QUOTE]
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Is it really possible to purchase real estate without using your own money?
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