Own Nothing, Control Everything
What's up, dolls? The #1 excuse I hear all the time about why girls do not take control of their financial future is that they don't have the time or money. Guess what? When I bought my first rental property at the age of 24, I did not have any money. But, by using other people's money and partnering with the right people, YOU CAN MAKE IT HAPPEN!!!
“Own nothing, control everything.” These are the words of John D. Rockefeller. This statement translates to 2 words – owner financing.
An example for real estate is buying a property subject to the existing mortgage or using a land contract and holding the deed. Then rent the property out to a 3rd party tenant and collect the cash flow or sell it for a profit.
An example for business would be to buy an existing business (in distress) using owner financing. You now control the business and put better management systems in place to make it profitable.
In both examples you control the property/business using OPM (other people’s money) and don’t have to personally take the risk. With these techniques, a buyer can control a business or property with usually just a small non-refundable deposit given to the seller.
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