Can you really buy Real Estate with little or no money down??

13 Replies

Looking at renting my current home in PA and buying a home in FL. Can I do this with little to no money down?? Pros - Cons??

I can, not sure anyone can do what I can do, I have many times, but that's not saying you can replicate what I did either. 

If you have a seller who has a problem and you can solve that problem there are many ways to proceed. If you expect to go to the MLS and pick out your home, I'd say forget it.

You get what comes under the circumstances.

Your question doesn't give us much to go on. Can I really build my own computer for less than I can buy one for, what are the pros and cons of building my own? :)

Absolutely without question...well, one question, do you know how, and are you willing to learn how?  OK two questions.

It's possible but highly unlikely.  Little or none of your own money? More likely.  Gonna ask a seller to pay for you to buy it.? There are closing costs, even without realtors.  2% in my area even when I self-close.  I would still be on the sidelines if no money was my criteria.

Is this a strategy you are trying to deploy or do you actually have no money @Kenneth Vargas ?  Having no money is a symptom of a deeper issue. 

Are you renting your current home to live in aan buying the home in FLA as an income property, or are you turning your current home into a rental, and buying a new home for yourself with no money down?

Either way it is possible...not sure you have what is needed in place, but it is possible.

Originally posted by @Bill Gulley :

I can, not sure anyone can do what I can do, I have many times, but that's not saying you can replicate what I did either. 

If you have a seller who has a problem and you can solve that problem there are many ways to proceed. If you expect to go to the MLS and pick out your home, I'd say forget it.

You get what comes under the circumstances.

Your question doesn't give us much to go on. Can I really build my own computer for less than I can buy one for, what are the pros and cons of building my own? :)

 To answer your question... No, you cannot build a cheaper computer than if you bought one out right... But then again... You are not giving much to go on ....

Originally posted by @Steve Vaughan :

It's possible but highly unlikely.  Little or none of your own money? More likely.  Gonna ask a seller to pay for you to buy it.? There are closing costs, even without realtors.  2% in my area even when I self-close.  I would still be on the sidelines if no money was my criteria.

Is this a strategy you are trying to deploy or do you actually have no money @Kenneth Vargas?  Having no money is a symptom of a deeper issue. 

 No.. Have have 20K of my own money but I wanted to see if it is possible.

Originally posted by @Joe Villeneuve :

Are you renting your current home to live in aan buying the home in FLA as an income property, or are you turning your current home into a rental, and buying a new home for yourself with no money down?

Either way it is possible...not sure you have what is needed in place, but it is possible.

 No... My home in PA will be rental income and the house in FL I will live in.

How much equity do you have in your existing home in PA that you plan on renting?

Originally posted by @Joe Villeneuve :

Absolutely without question...well, one question, do you know how, and are you willing to learn how?  OK two questions.

 Yes... Always willing to learn

Originally posted by @Joe Villeneuve :

How much equity do you have in your existing home in PA that you plan on renting?

 Approx. 30K

Originally posted by @Kenneth Vargas :
Originally posted by @Bill Gulley:

I can, not sure anyone can do what I can do, I have many times, but that's not saying you can replicate what I did either. 

If you have a seller who has a problem and you can solve that problem there are many ways to proceed. If you expect to go to the MLS and pick out your home, I'd say forget it.

You get what comes under the circumstances.

Your question doesn't give us much to go on. Can I really build my own computer for less than I can buy one for, what are the pros and cons of building my own? :)

 To answer your question... No, you cannot build a cheaper computer than if you bought one out right... But then again... You are not giving much to go on ....

Which was exactly my point. :) 

I see this question asked a lot and hear the pod casts of people actually doing it. I've never met anyone in person who was able to. I'm newer to bigger pockets and have listened to many of their pod casts and I think the advise I like the most is "if you find the deal money will come." So if you find a deal and need to finance it someone will back you as long as the deal makes since. I'm not sure who that person is yet or how to find the deal but when I do figure it out rest assured I'm going to write a book or 7 on it....

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