Do these exist? How can I find them?
The easiest way is to find a great deal and use someone else's credit. Partner with someone who can help you get a few deals going so that you can make some extra cash. If you are donating half of your deal to someone who can make a no money down, no credit deal work for you, is it worth it?? I think so. When I started over 10 years ago, I partnered a few times with people to get things going. Later on, I was the one that people partnered with.
After you have a few deals under your belt, you can find some self directed IRA money or private money where you can do no money down deals.
Doing Sub-to deals can also be a way to find a no money down deal. No credit is ever needed for those.
Any Ideas how to find such a "needle in the haystack?"
Usually you need at least 2 of the 3.
Its not a needle in a haystack, but it is work. I send out over 1000 postcards every month. I talk with people everyday. Some are good deals, some not so good. It is finding someone who is motivated to sell. If I want one of these deals that I find to be a no money down deal, all i have to do is partner with someone. Truly, I find deals, but to make it no money down, PARTNER with someone in your area who already has the resources and financing in place. This is the easiest ways to make your deal a no money down deal.
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