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This is one of the best all time marketing slogans in the real estate guru world. Doesn’t it just make dollar signs dance in your head? And, every time you see those infomercials going on and on about how to get cash at closing, remember that the guys and gals holding the check may not be the typical student of that particular course. Be sure to see if the infomercial or paid advertising says "results are not typical" anywhere and then ask yourself if this is the course for you. I am not saying you should avoid real estate as a wealth investment avenue. Not at all. But, the chance of getting great cash at closing deals may prove to be very few and far between. Other real estate tricks of the trade may prove more viable over the long haul.
If you want cash at closing you have to find a homeowner willing to fork over his hard earned equity and there aren’t many of them out there unless they are in foreclosure or paying mortgages on more than one home and need an out immediately. You would also have to arrange with your financing institution getting the difference in appraised value and sale price on the day of the close.
So, it isn’t as easy as it sounds and lots and lots of people are trying to do it. Check around in your local real estate market and find out what is going on. Talk to local realtors about what techniques have kept them in business for the long haul. I don’t think there is anything wrong with ordering a real estate course from many of the gurus listed here. Some of these courses will address how to get cash at closing, but don’t focus entirely on this one aspect of real estate.
