In 1980, I was a broke 17-year-old with no home, no savings, and no clear direction for my future. That’s when I stumbled upon a life-changing opportunity—Robert Allen’s Nothing Down book.
Allen claimed you could buy a home with no money down, and while it sounded far-fetched, I figured, “What do I have to lose?” So, I spent $2 to buy the book, and it was one of the best investments I’ve ever made.
I shared the book with my cousins, Rich and Bill. The three of us were broke college kids with big dreams but no capital. Determined to turn this idea into reality, we read the book cover to cover and followed its principles to the letter.
Within a year, together as one team (tenants-in-common), we owned a 3-bedroom, 2-bath home in Las Vegas. The price? $64,000. Our down payment? Absolutely nothing.
How We Did It: Creativity, Leverage, and Negotiation
Our strategy was simple but bold. Using the free house phones at Caesars Palace (back when that was a thing), we cold-called homeowners to find opportunities. Eventually, we came across a recently divorced young mother who needed to sell her home. She had an assumable mortgage of $44,000 at 7.25% interest—a manageable $250 monthly payment.
Here’s how we structured the deal:
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- We assumed her $44,000 mortgage.
- We gave her a $20,000 promissory note at 10% interest, with a balloon payment due in five years.
With escrow opened and terms agreed upon, we took possession of the home. Then we rented it out for $600 a month. After collecting the first and last month’s rent upfront, we had $1,200 in hand—cash flow from day one!
We rented the property for several years before selling it, making a modest profit. While I can’t recall the exact figures now, the experience was priceless. We turned nothing into something, all thanks to creativity, fearlessness, and the power of leverage.
The Lesson: Success is Negotiated
This story isn’t just a nostalgic trip down memory lane; it’s a testament to an essential truth: Everything is owned or controlled by someone else. If you want a piece of the pie, you’ll need to negotiate for it—and leverage is your best friend.
Here’s what we did right:
- Creativity: We used free resources, like casino phones, to create opportunities.
- Leverage: With no money to our names, we relied on the assumable mortgage and a promissory note to finance the deal.
- Action: We didn’t wait for perfect conditions or guarantees; we simply went for it.
Why This Matters for You
You don’t need money to start building wealth—you need resourcefulness and courage. Whether it’s buying your first home, starting a business, or negotiating a raise, the principles are the same:
- Find opportunities others overlook.
- Use what you have to secure what you want.
- Act boldly, even when the outcome isn’t guaranteed.
If a broke 17-year-old could negotiate a house purchase in 1980, imagine what you can achieve today with the tools, information, and resources available at your fingertips. So, what’s stopping you?
** Since this true story is over 40 years old, I have asked my cousin Rich to read it and correct anything I may have gotten incorrect or add stuff that I may have not remembered. I await his confirmation.
Charles Bivona Jr aka “Coach JP Money”, is the founder of Coach JP Money. He is a seasoned expert in financial coaching and wealth-building. A multifaceted visionary, Charles is also a writer, global citizen, eco-activist, musician, artist, entertainer, entrepreneur, investor, life coach, and syndicated columnist.
Charles’ journey began with a solid education in accounting, finance, and business at the University of Nevada, Las Vegas, and California State University, Fullerton. At just 17, he made his first real estate investment with no money down, igniting a lifelong passion for financial independence. By 1998, he had achieved debt-free status and has been building wealth ever since.
As an entrepreneur, Charles owned and operated five national newspapers in the U.S. before transitioning to digital media. He founded and managed influential online platforms, including HireVeterans.com (2004–2020) and VT Foreign Policy (2004–2023).
A proud expat since the late 1990s, Charles resides in Baja, Mexico, with his wife whom he married in 1985. Together, they have three adult children and seven grandchildren. Their eco-conscious home, built with sustainable super-adobe techniques, is now a luxury retreat known as Hacienda Eco-Domes.
Under his music alias Johnny Punish, a name coined during his days fronting the underground punk band Twisted Nixon, he continues to inspire through his art and advocacy through his newest musical adventure; Punish Studios.
Today, as “Coach JP Money” Charles dedicates his life to helping others achieve financial mastery and personal success, sharing decades of experience and wisdom through his coaching, writing, and creative endeavors.
Read the full bio at PunishStudios.com >>>
