OfflineHello! I am just starting out in the investing arena and am in the middle of Dean's "Right Now" book. I understand the whole finding properties and assigning it to another buyer to make some money with no money out of my pocket. I get all that! My question is, what are other options to buy property with no money? I litterly have nothing! I would like to buy a property to hold and rent, but since lenders are not doing initial 100% loans, I have no money for down payment, how do I acquire property in this case? How do I get and keep a property with no money? I apologize if this question has been asked. Any information would be great. Thank you!
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William
50% of something, is better than 100% of nothing!
Congratulations on taking action and welcome to the forum!
You could try finding a seller who is open to seller financing. If the property is free and clear of any mortgage and the seller needs to sell asap, they may be very open to it. Unlike a conventional loan, seller financing is as creative as you make it - many times the seller won't even require a credit check.
Good luck!
To Make this short, see a topic called "EARNEST MONEY" . Yes it is in all capitals. It will give you a great clue! To find it use the search box under Deans chin. Make sure you use the enter key on your keyboard not the mouse click. That doesn't get it. Read especially Michael M's & Trustpoints' comments. And read between the lines well. Okay! ;)
Michael Radtke
www.nationalpropertyscout.com
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