Real Estate Investor · San Diego, CA · Member since 2009 · 5 posts · 0 votes
Has anyone worked or have done a zero down transaction with outestate.com also known as zeromoneyinvestment.com and Terica Kindred is the CEO and founder? Thanks.
I've worked with them before. It's funny you post on here about www.zeromoneyinvestment.com.
I saw them earlier this year on the internet on loop net when I was searching multi fam listings. I saw a no money down ad and I thought look another one of those get rich quick schemes. I clicked to read up about them. I didn't get much information so I put in my info to the form they had online. I actually talk to someone else before I personally met Terica Kindred.
Here's what they are doing. You are buying first using their hard money lender. The lender they use do not require that you put any money down as long as the number work out to meet their criteria. Out Estate Investments does a good job at making sure the number work out otherwise they give you another property that does. From there they rehab the house. The hard money lender they work with is a rehab lender so the money for the rehab is included.
After they rehab the house they place a section 8 tenant and then they refinance you 30 year fixed with a direct lender ( ie. Wells Fargo, BofA, etc) That's how they do it. 100% financing during a credit crunch!
I did it twice actually. They are legit. I even referred a few friends and my brother is buying right now in St.Louis.
My properties are positive cash flow after expenses. They do a REALLY good with getting tenants. The entire team is really friendly and they are used to work with newbies so they explain everything and hold your hand. I'm not a newbie so I didn't need much hand holding, but my brother does and he is getting the much needed support.
The mortgage guarantee they have is legit. However, I got my first check before my first mortgage check. So I didn't need to use it.
The rehab work they provide is excellent. They sent me close to 400 pics. They give a 1 year Guarantee. So far no maintenance calls.
As for Terica she knows her stuff simply put. Based on my experience with her she cares about her clients and wants them to be successful.
I give this program: Two thumbs up. If you qualify for the program I say do it!
Weakness: You will not get a property right away. They have waiting list due to popularity. If you don't mind waiting and you want a turn key operation. This company has it.
Real Estate Investor · Pasadena, CA · Member since 2008 · 17 posts · 0 votes
17y
on its website there is a bbb seal but when go www.bbb.org and type in zeromoneyinvestment.com, there is no report. Is it a different website to check bbb standing?
What is the wait time usually once start the process? Definitely sounds too good to be true but seems worthy of trying per Mr Bui's testimonial.
Real Estate Investor · Hyattsville, MD · Member since 2008 · 40 posts · 0 votes
17y
|I'm wondering is this being financed under your name or your LLC, assuming you have one, David Bui? I hear that it is hard to get it under your llc and i'm wondering if this company tries for that instead of your name.
on its website there is a bbb seal but when go www.bbb.org and type in zeromoneyinvestment.com, there is no report. Is it a different website to check bbb standing?
What is the wait time usually once start the process? Definitely sounds too good to be true but seems worthy of trying per Mr Bui's testimonial.