Rick Otten how to buy a house for $1

Hi Belinda

The buy the house for a dollar idea can be achieved by what are generically called an 'assumptive joint venture' or an 'assumptive lease/option'.  I treat them as very advanced vendor finance strategies and would suggest that they should not be considered until you have a good experience level in the VF industry.  If you do happen to stumble across one in the meantime, I strongly suggest you ask an experienced vendor financier to look over the transaction for you or even do it together.

The Vendor Finance Association is a great place to meet vendor financiers.  Dates and details of meetings are available at:  http://vendorfinance.asn.au/meetings-and-memberships/

I believe it's important to build a good foundation to your vendor finance knowledge and there are numerous educators to choose from.  Some that spring to mind are:

Sean Summerville  –  http://www.thepropertyking.com.au/

Rick Otton  –  http://www.rickotton.com/

Dave & Julie Siacci  –  https://vendorfinanceinstitute.com.au/home/siacci-system-of-vendor-finance-1997/

Paul Zalitis  –  http://www.aussiewrapper.com.au/Cash-Flow-Investing.html

Gordon Ku  –  http://gordonku.com/

It is worthwhile researching all these educators and choosing one that suits your style.

May I also suggest that you do some research about buying with VF.  Some suggested places to start are:

https://www.propertyinvesting.com/strategies/wraps

https://www.propertyinvesting.com/strategies/lease-options

http://negative2positive.com.au/information/about-vendor-finance

http://www.vendorfinancelawyer.com.au/vendor_finance_intro.htm

Cheers,  Paul