Updated over 9 years ago on . Most recent reply
Using Little To No Money OR OPM For Investing
I am new to the world of Investing in Real Estate. Would like to know ways to enter the Real Estate World NOT using ANY of my money, or a very minimal amount for LARGE PROFIT REASONS. Any ideas?
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#4 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
I would start with a house hack. You can buy a property that has up to 4 units in it with an FHA loan. This would require only 3.5% down. You would need to live in one unit for at least 12 months but would likely have most if not all of the building's expenses paid for by the other tenants.
Anything that you are not living in you are looking at a down payment of roughly 25%. You can do up to traditional 10 mortgages in your own name. After you have gotten 10 properties under your belt you may be able to shake loose some private money as others see you have a track record of success.
Good luck to you & I'll see you around the forums.