Can you really buy real estate with $0? Should you ask for seller financing and how? And is software

better than a spreadsheet for bookkeeping? My community asked me the hard questions. And in today's

episode, I'm answering them all. Let's get started. Welcome to the podcast Real Estate Investing with Coach Carson. I'm your host, Chad Carson. You can also call me Coach Carson. This is a show to help you get out of the financial grind so you can spend your time doing more of what matters. I'm going to go through these questions rapid fire style so I can get to as many as I can. And the first group of questions came from my rental property mastery

community, also known as RPM. If you haven't heard of this, this is a private community where I teach

and coach. We have an amazing group of small and mighty investors that's capped at 300 members.

You can check that out at the link in the podcast and YouTube description below. This first question

came from Jonah, Pasqua. And Jonas was asking about how do you make your offer stand out, your best offer to buy a property?

How do you do that? And we've been working a lot in the community lately on buying more properties.

And how do you do that by making more offers, by making better offers?

So I have a couple thoughts on that, Jonah.

The first one is to make your offer cleaner and stronger and faster, three different things.

And by cleaner, I mean having as few contingencies as possible. Now, it's okay to have a contingency and a lot depends on, you know, what part of your career you're in.

But I'll give you an example that's both clean

and fast and strong. So it meets all three criteria. Then I'll kind of explain how you might

be able to adapt it. I bought a property one time where I met a seller on a Monday and I offered to

close on their property that Friday, Monday to Friday. Now, that's usually not possible for a number of reasons. And one of those is just your closing attorney or a title company might not be able to get it turned around that fast. So you have to know we were doing a lot of closings. And I called my attorney and say, hey, can you get this closed? And they could. Well, I made a quick offer. So that was very timely. Sometimes people want to have their house clothes really quickly or their property sold quickly. That's about as fast as you can get three or four days. Some people want to wait longer, though. I bought another property where somebody wanted to wait three or four months. They wanted to know I was going to buy the property and we actually bought it. And then they rented it back from us for three or four months months until they so they could use the money to go buy the next house and they were able to

stay there through Christmas and do some things in the house until then. So timeliness was important.

I did it quickly in that case. I'll set a clean offer. So if you can have as few contingencies as

possible, you know, it's very typical to have an inspection contingency, it's very, where you have a certain amount of time to inspect the property to make sure there's no defects and negotiate based on that. It's also pretty typical to have a financing contingency. But just because it's typical doesn't mean that's a strong offer. So if you want to make your offer even stronger, either get rid of the contingencies altogether. That's what I did in my case. I expected the property that day, got rid of it. I don't recommend doing that for most people, but if you can reduce the length of your contingency to maybe seven days instead of a couple weeks, if you can limit the number of contingencies, just have one contingency and you figure out everything in that in that time period, that would be cleaner. But you've got to kind of match that to your own situation. And then the third one was stronger. So the financing is, I mentioned that contingency. If you can have the closer to cash you get, the better. Now, if you have to use financing to buy a property, that's

pretty typical, that's okay. But if you really want to get a good deal, somebody who was very

motivated, if you have your own cash, if you have money from a HELOC, you can like basically like

cash, you have a private lender or hard money lender, they can give you a guarantee that, hey,

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