How to buy an Apartment Building with NO Cash, Credit or Experience - Secrets of the super rich...
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- čas přidán 9. 07. 2024
- How to buy an Apartment Building with NO Cash, Credit or Experience - Secrets of the super rich with Jay Morrison.
JayMorrisonAcademy.com
My Academy is for the aspiring entrepreneur, who is looking for an actual blueprint to make money in real estate. If you don’t like hard work, then the 12 months it takes to complete our courses will be a total waste of TIME and MONEY. If you work your butt off like your family’s LEGACY depends on it, then you will learn how to build wealth and achieve financial freedom through real estate. I am so happy I can finally say, “I did my job.” My team and I have created a vehicle for people like you, who are coach-able and hungry to improve themselves, to learn the cornerstone of wealth in America.
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I hate when I see videos saying "No money down" then in the video they bring up a scenario that they indeed had to put money down.
The best advice if you are looking to get into commercial real estate is fix your credit.
Everything ultimately routes back to credit. especially in real estate
I, a long time ago bought 12 units, with no money down, actually meaning to borrow from family or friend, be sure can pay back and then some. Suggest you obtain an old books on creative finance and be concern with the concepts not the dollar amounts used in example. The key is to find out why the seller is selling and what they need and "wish to do", "wish to do"; and often the reason they are selling has nothing to do with THE property. Every situation is different. May take a while to figure how you will do it, with thought and creativeness will find a way. For the main don't involved a real estate agent, few understand. You most likely will come up with a way to solve seller's "wish to do" with little no or other's cash and buy property. Expect to be paid, but don't be greedy to take all on the table.
I learned about real estate investing in the early 80s,late nite Cable TV. One nite a week I stayed up all night, took notes. When to library and read No Money Down, and Al Lowery books. I could not afford to buy home study course so with my note in hand I would call various Pros and ask questions. I choose a cookie cutter /Re Broker, 1st building 16units ,$250k his price my terms, 10% do, seller carry balance for 10yrs,at 10%,balloon at end, Now for all you non believer, He agreed to a subsution of collateral with same time closing. My money man partner scratch the deal because he couldn't understand stand it. I did know to a year later I didn't need nothing but warm blood
The takeaway here is: Unlike Chris Urso, Black people, Antonio Moore and Yvette Carnell are right, we likely can't turn to friends, uncles, and cousins to find seed capital for our real estate ventures. However, Jay has a solution with his business funding. Therefore just one or two people with decent credit scores can get access to $41,000+ in unsecured credit in order to invest in an apartment renovation (or new construction) project. Ramon Tookes in Atlanta has access to the same business credit program. It's time to practice group economics on a wide scale. Church groups, book clubs, black alumni groups, social groups, take advantage of your collective credit capital and start building generational and community wealth.
A management company wanted to sign me as a producer-songwriter with a negotiable advance starting from £30000 upon showing them 4 complete demos. My mother and brother would not help me and I already had 2 remixed records which both were at number 1 in the UK and Europe. I then asked my uncle in the US for a loan with a contract detailing how I would pay him back etc, he agreed and would have his initial investment back within 30 days. My mother and brother conspired and got a copy of a confidential contract and told my uncle not to help me, therefore I could not obtain the £30000 or more in capital and ended up losing out on the deal, even though the management company was constantly calling me, I was so ashamed and disgusted that I could not explain why I could not produce the demos. My uncle also said "Don't fall behind the 8 ball", knowing that he destroyed my dream. The ones that have don't give, and the ones that give don't have it until they disassociate from narcissistic family, friends and people. We are our own worst enemy. that is why we are an underclass.
Not true. There are many African-Americans who can help you. My first deal in 1981, I got seller financing which covered 97 percent of the price of the property, my financer was African-American. I've since expanded to own 27 buildings throughout the country mostly in the Bay Area and now in the NYC area. Most of my dealings are with African-Americans, West Africans, Latinos and people from the Caribbean.
The real problem is you.....you don't believe in our people because you're dealing with poor or working-class African-Americans. Maybe you need to step up in class.
@@rickjason1786 Would you mind if we connected off CZcams? You're right, I need to expand my social circle. I've been dreaming about doing what you've done for two decades, but just don't know how...
@@neuroscience5994 Try Noelle Randall or Garrett Gunderson they specialize in this both are good. You lost me with all that " woe is me because I'm African-American stuff". You are socializing with too many poor folks. That your fault.
@@rickjason1786 Family can be a trip 🤦🏻♀️
Excellent video fam. Keep up the good work.
Professionalism.
Branding.
Sell yourself.
Integrity.
10k can buy a $500,000.00 apartment building.
No cash no credit is doable.
how
True I would add connections and the right partner(s).
How?
Money partners.
$125,000 is down payment there found other sources to fund 10,000 out of pocket 😘
A goal of mine in life is to make money without having to work every day.
Very informative, definitely getting on my grind to get that anchor property thanx jay!
Why not change the title to describe what was really said in the video? ie...after gaining your knowledge, license, its only about 10k and links to people that have money, to do what Chris did!
Jay Morrison came and spoke at my highschool today! He provided a lot of valuable information and I look forward to learning more from him.
At least I think it is
Wow J so much value bro. God bless you!
“ You wanna be an asset and investment manager. You don’t wanna be a landlord or property manager. “ 😁🔑
Hi Jay, thank you for this video interview, I was confused with one point that Chris mentioned when he said that we can also receive a percentage of the cash flow each month, but if we are already receiving acquisition fee, asset management fee, and a percentage of equity of the ownership of the property (which all 3 make sense) how do I justify the cash flow percentage I would also ask for from the investors? What would be the reason for me getting a percentage from the monthly cash flow? Hope you can help me understand
Love this!!!
thank you and God bless
This video is definitely the blueprint.
🔥🔥🔥🔥🔥
Great video Chris and Jay!
This is what I’m planning to do in Ghana. I leave Sunday...collecting all the info and returning to pitch investors. Well needed video. Thanks!
Good Blessings sis.
@@tiag298 Thanks sis 🙏🏿
Thank you Mr. Morrison!
Thank you for sharing
Very Good Information! Good Job Jay!
I'm going to this event...i can't wait!
I'm learning more and more about realestate ; I'm a carpenter and I can do a lot of the work myself, but in this game its not about doing the work its about purchasing the realestate either hold it or sell it. And I'M finding out that A LOT of people out there are saying you can buy realestate ( WITH NO CASH & NO CREDIT) And you too are saying the same thing but you have added NO Experience also! But it boils down to buying your Course ! RIGHT ?
Thank you guys! I definitely know what I have to do to help me to get lenders/banks to invest in my business.
The title says "No cash" but he talks about how he had $10,000 of his own cash. That defeats the purpose of this video.
The least you could do is tell people how to make $10,000 geesh. Stop click baiting people.
I think as a people we gotta find out how to save average person lives paycheck to paycheck just imagine if u were to save 200 every week for 12 months 52x200. Just a suggestion
@ Freddie Willis. I felt scammed and slammed with advertising for his academy the whole time. I felt this was another marketing video. Good info but nothing new
Do you really need someone to tell you how to make $10,000? How about save? How about perform small scale business deals? How about work more?
If you are having a hard time saving a quick 10k then you are going to have an even harder time owning and running an apartment...
Assuming that I'm the one who needs 10k, which im not. I got money. But clearly there's people on here looking for a real way to buy an apartment building with "No cash" just like the title says.
Dont try to shy people away from the fact that this guy said no cash but then in the video here clearly states that you need cash. Very contradictory. Good info but please stop clickbaiting people.
great information
jay I truly admire your work you are truly a role model I want to learn more thank you for putting out good information for the people god bless in I will be following.
So you get acquisition fee and asset management and percentage of casflow.Then on the back end when you've done your job you can still profit on forced appreciation
Very nice...
Jay thank you for sharing the interview with Chris. I know Chris invests in the Southeast region of the US. What markets in the US do you and or your guests feel will continue to do well over the next 1-3 years?
Awesome
Jay you influence me to be better! Please keep it up and motivate the black youth to make our community better.
Acquisition fee
Asset management fee
Percentage cashflow
Percentage profit on resale
all from below $10,000 money
wow
John Paul Paquibot Cebu Real Estate fire right?
This video lit
It must be hard to make a video when you really have no idea who the viewer is going to be.
On one hand, a viewer may say, "Jay, you fine!" on the other hand the viewer says, "Are you joking... no credit means ZERO RESPECT". Watching this was worthwhile because it can set off some sort of a spark in the mind of one special person who will say, "I can do it" and then sets out to do it. That's the power of this video. Also: Obviously, the black and white combination is what is needed for some people to both believe and to trust.
Warren C. Yes a agree with the comment about the viewers. He wants to reach the black community that he came from. How many people in the hood has friends with that kind of money to gift. So I guess they need to find this team he speaks of aka the white man on his right
Ryan I was speaking in the general. Majority of the people in the hood don't have rich friends and family to just give them money cuz then they wouldn't be in that circumstance. It's not always as easy as he's able to say it.
Nice #GOALS
I did not know this was possible. Is it still good? I would like to own my own foster home for unwanted babies, an assistant living home for 55+ senior citizens, and a nursing home for the elderly. I am sick of watching videos of elderly people being abused and murdered in nursing homes! I find myself crying, fasting and praying for them. Then GOD told me to get up and do something about it! I had no clue where to start then I saw two things: three organizations recruiting people to run for public office and a plethora of videos titled, "How to buy property with no money or credit." Of Course, I believe they were signs from GOD. I have help with running for public office. I just need help with acquiring property without money and without credit.
So basically you couldn’t take out a loan ? And business credit doesn’t apply ?
does this apply north of the border
What are the steps ?
I was a maintenance worker for 5 years and my mom was the property manager for 6 years and still is today, Would that help me be a future owner myself? just having a lil experience of how everything goes?
joe afu better than nothing
@ 3:30 in Cincinnati 💯💯🏢
I plan on getting educated
So I just recently tried to buy a single family investment property less the 100k and they wouldn't let me cuz I didnt make enough. Then they said I can't use gift monies unless it was sitting in the bank for a few months. So if I was trying to buy a building hmmm I don't see how it could be cuz I sure don't have the income for a small home let alone a building. Mind u my credit did nothing to help even at 800+
Isa Veiga wow thats sad
Isa Veiga they just didn’t want you to have it
Brother Voodoo lol. The struggle is real
Have you tried multiple sources? May be a broker in your area could help by shopping around for you. FHA loans are geared towards people like yourself. Maybe you can temporarily take on another job.
@@beatricerights thanks
Great advice
So by owning apt buildings there are ways to get paid
Videos like these leave a lot of questions like how much of a return did you offer the investors collectively? Do you pay them their return monthly or annually? Who are you charging the acquisition too the investors? Where did you find these investors?
If you chose to bring on partners for your commercial investment then you should be able to answer those questions for your investors. The source of investors varies depending on how you choose to structure the deal.
I have owned many apartment buildings. Also as a Realtor I have brokered many buildings. To do this you need 1) STELLAR credit. You need to be able to get BORROWED funds. 2) WORKING capital. You need down payment money and some working capital....without these two things it CANNOT be done.
***** You are 100% WRONG and are completely clueless. Don't think that your obvious LACK of knowledge somehow equates to truth. Just because YOU are lacking in the knowledge or experience to do this. NOBODY is impressed with your contrarian grand standing sir. You have literally NO idea what you're talking about. Take your pessimism elsewhere. I could very easily humiliate every single baseless statement you made and expose your LACK of knowledge and experience but ...I don't see the need. I think it's fairly obvious what your real problem is.
CheckMate000007 You seem like a dillusional "positive thinker" . How many apartment buildings do you own? (I'll bet zero). I am a commercial Realtor in both CA and TX. Been in the business for over 30 years. I have done deals for entire city blocks. If you want to own income property you will need a loan. 1. A direct lender or a conduit lender want perfect credit and a big down payment. 2. Hard money lenders ALSO want great credit and huge down payments. Plus their interest is so high your property will not debt service.
***** Do you believe there is a possibility that an alternative way could be used to buy apartment buildings?
oseme thompson If you wish to buy an income property, under your own entity, you will need to borrow from a bank, CMBS or conduit lender, they will have you comply to all the new regulations under Dodd-Frank-Obama. That means you will NEED to qualify. A real down payment (25% or more) and steller credit.
good to know
Everybody forget the debt to income ratio
Sigh doable yes, basically this is called a Limited Partnership if I'm not correct. Promising to pay back a certain % of the Real Estate rent. And probably get a small equity %. Lot of risk... But he probably then strategically used the equity to flip another commercial property. Not hating but only a small % of people could do this like 1-3%. Very rare
We get paid the acquisition fee at the closing table
Great stuff
I don't have a Real Estate License and i want to get started. how and where do i start jay Morrison ?
Do you have good credit?
Demond Hammonds NOPE!!! jajaja
I hate to be negative..but is this really plausible for young black youth (i'm black by the way). Are we able to go out and speak to wealthy of other races and they trust us with this money?
Kae Eli So true. I notice they stories of whites who started their businesses tend to be verydifferent from our stories.
Kae Eli So Kae, you obviously know what your weakness is. Instead of using it as an excuse, find a solution. If you feel you need help in your speech or if you feel a lack of vocabulary will make you stand out as untrustworthy, then take speech classes or read the dictionary when you have free time. Work on your weakness instead of using it as a barrier. Learn to dress and present yourself as a trustworthy person. There are plenty of gentleman websites that can give you style cues. Also you cant say you cant make it just because your are black, look at Jay. Also don't worry about your reputation and focus on having good character. Then once you have your foundation and you feel confident, follow what Jay teaches. NO EXCUSES!
Kae Eli I despise and HATE this type of negativity and excuse making from blacks. As a young black man one of the first jobs I had as a young adult was talking to business owners in very wealthy areas and getting them to "trust" me with their money including CASH payments and all they got from me was a receipt book. All the blacks I've ever known who know how to present themselves as intelligent; charismatic and articulate, mature adults have not only had great successes but those in my circle of influence were usually TOP performers.
So don't say WE as if all young blacks are viewed the same way when this is not the truth. What Bruce C has to say is on point and correct.
Bruce C As a black man with extensive experience with wealthy individuals and businesses from a young age I can only say that I agree with you 100%. I think that you sensed what Kae Eli's real issues were and WHY he may be accustomed to a negative reaction. This is something that has never been an obstacle for me even dealing with very wealthy of "other races" from a young age while operating in the capacity of a marketer. Not every negative perception that people have is always about race.
+CheckMate000007 Amen.
Hi this is Marlene how much the Apt
Ya.....other peoples money....
This sounds a lot like a private equity firm
Hot deal Commercial buildng 3 shops 3 flats, flora cliff Rooddepoort- looking for investors
Hey Jay can i pay for an Consultation?
You can go to jaymorrisonacademy.com and look at his packages to pay for a consultation with Jay.
Don't get ahead of your selves people. Now if half of you had a profitable 40 unit building drop on your lap...with equity, Im pretty sure u would find a way to finance it. The key was the good price, buy
t dam...where did he find the deal, how did he find the deal...... is the most important. These videos never really show u what u need.
You can always find a good deal..a lot of great deals if not the best deals are always off the market. People have connections or relations with there realtor. Of course the rich never tell you how to exactly get rich but they can point in the general direction and it’s up to you to the digging.
Pls tell me other then credit card and bank loans and families who also is going to give u 100.000 $$ to start a real estate business.
10 people is good.
hate when people clam no money down it always bullsh..
Damian Gomez No. Your mindset is bullshit, pal.
Damian Gomez it's not necessarily no money down. There's always money down. No money down is impossible. It's just not your own money. You use other people's money. That's called OPM. Look it up.
Do you have any better options to put on the table.....No I thought so.
DPG that's because you don't understand real estate..... If you did you wouldn't be saying that... Plus you are lazy.... You wouldn't even put the work in that is necessary to obtain a no money down deal
None of "their own money"
Someone should just summarize how to do it in the comments.
I have to watch this again bc a lot of the terminologies went over my head, smh
say no more I definitely a slime ball lol
Ambition in the real world definitely take being a dog as nigga keeping it 1 hundred with ya self to set out ya trend - that ain't speaking on the brain to be used a certain way, that's speaking on winning with the 1 hundred percent truth, fitting in the big picture with the world movement and it only have a future,"so I invest every second of what my brain ticking to" so I can win every second since I love World Play and born Corporate Broker'ed,a natural too much not to be with it. But say,u weak u beat in the systemictive ugly world and u got to be a good follow to stand on side me in life's good life - hope i read u right about the slimeball because I took it for ambition - so I didn't come out to understand nothing ain't to be understood,ya feel me, seeing me out here u know it's ,"eyes on the prize and good for alot, i love it in heaven because in heaven it's no shorts" - that's y i hold me down and I'm winning definitely! America's Son
is this illegal or na.
I was interested in buying a house last November. I had to fix my credit and I didn’t prequalify to buy till March. My first house I offered was rejected, and I didn’t find a great deal till June and closed July 31st. It takes time and stressful and just a roller coaster ride! Moving and furnishing, be prepared to drop 3-5 thousand $$$ just like that. Phew ... it’s expensive buying a house but it’s worth it if you do it wisely! Oh and it helps to have a good realtor that’s on your side and is positive. Same goes for the mortgage lender. I dropped my first mortgage lender because he made me feel like it was hopeless to fix my credit score to qualify. He was like... even it you pay this or that off, you still may not qualify. I dropped him and the other Broker was like... here what you need to do and get done, and they followed up on my progress . Stay away from nay sayers and find a team PARAGONOFFICIALS🟠COM
Who wants to team up and do it big world wide.. We all can use each other.. 13:14
💎💎💎s
Hmmm no cash, except $10k. Plus ask people for money 💰...
You still need money though! Not everybody is sittin on ten G’s of crack money to invest! 😠
Mz Nurú awwww that’s harsh
why do you want to give away my secret darn u
Lawrence Jones lmao
Total bs. Trying to sell you something.
This is pretty much the Tulsa Real Estate concept!!! You should direct the naysayers to this video so that they can here the same concept from this Caucasian man and see that the Tulsa Real Estate Fund is not a scam!!!
Yeah, this title is too misleading. Starting to question the honor integrity here.
Hey we're back, its Jay Kermit-the-frog-looking-ass Morrison.
+Gemariah Israel LOL shout out to all my haters.
bitch imma slap yo ugly ass smh
fucken hater
+C. Lincoln YOU JEALOUS??????????????????????????????????????????????????????
Sounds good but everyone I know is broke as fuck 😂🤣
Meh....
bullshit one needs downpayment..
What a joke. The number one factor of buying real estate is Location, Location, Location. Preferably A locations. The first thing out of his mouth is we bought in the hood in Ohio. Congrats on getting people stupid enough to buy real estate in the hood. Very poor investment decision. Of course you can put zero money down in those areas, they have high crime, bad schools, and need tons of work. Not trying to rain on your parade, but this is hardly a legacy property I would ever want . Buy real estate is great locations.
Secrets of the super rich,
Sell this busted ass building to some sucker.
Im a carpenter, ill just get the loan to build a new one.
I was interested in buying a house last November. I had to fix my credit and I didn’t prequalify to buy till March. My first house I offered was rejected, and I didn’t find a great deal till June and closed July 31st. It takes time and stressful and just a roller coaster ride! Moving and furnishing, be prepared to drop 3-5 thousand $$$ just like that. Phew ... it’s expensive buying a house but it’s worth it if you do it wisely! Oh and it helps to have a good realtor that’s on your side and is positive. Same goes for the mortgage lender. I dropped my first mortgage lender because he made me feel like it was hopeless to fix my credit score to qualify. He was like... even it you pay this or that off, you still may not qualify. I dropped him and the other Broker was like... here what you need to do and get done, and they followed up on my progress . Stay away from nay sayers and find a team PARAGONOFFICIALS🟠COM
Bullshit no money no credit
Awesome video
Thanks!