Money Down and 5 year plan

[Jeff Johnson]

Hey All,

Just a couple questions. Are there still no money down deals to be had? For example I get a house and have an ARV of 30% under appraisal. Am I going to be able to find plans where I put money down to get the rehab financing and when its complete get the 30 year and get that money back as its at 70% of the actual Value or are appraisals pretty much a non-issue now.

And would 50 houses in 5 years be a totally unrealistic goal in today’s market? 70K is the most I will pay including the repair. Rents in the area average 1100 to 1500.

I have probably 30K cash to work with, but I would rather not plunk that down on a couple houses and then have to stop.

Oh, I am in Minnesota if that matters.

Thanks

[Rich Weese]

Jeff- I didn't see where you were asking about institutional loans. So, yes you could acquire 50 homes.
To be exact, I bought 63 homes the last 18 months and about half were owner financed. However, none were 100% financed. I got 95% a few times and 93% from one seller on 13, so yes that part can be done. Not one of mine was bank loan.
IMO, it also depends on the area you're buying in. Rich at the airport.