Questions Regarding No Money Down Purchase

[DONALD TURNER]

I am a new investor looking at multi-unit building. The planned exit strategy is to use the building as rental property. Because the property is owned free and clear my goal is to acquire it using a no-money down technique. Repairs are needed and the seller will most likely want some cash back initially.

For the purposes of illustration, let’s say the following:

Fair Market Value 300K
Sales Price 210K
Repairs 100K
Cash to Owner 100K

What no money down techniques are suggested to meet the needs of both parties?

Thanks,

D

[Jackeline Petrucci]

Donald, independent of the way you want to finance your purchase you should make sure is a good deal and that there is equity in the property. If the ARV is 300k and it needs $100K you should not buy this property even if the seller finances it 100%. If the seller finances it 100% I will be will to go as hight as $150K but no more than that.