I am just thinking there has to be some good stories out there on how investors got their first investment property. I was chatting with a friend and this topic came up. He jokingly said to sell a kidney for $25,000 and how in 30 years it would make for a fantastic story. Obvisouly this is extreme but I am still curioius and just want to create friendly conversation on this site. I can't wait to read some of the stories!
I wrote a check for $2,900.00 to a local S & L That was 2002. Current rent on the house is $600.00
I refinanced a property I bought for cash, and used those funds to by another property (rental) with the same cash, and did it again, and again,...
The best way I have financed investment properties was with 100% borrowed money. Walked away with anywhere between $50k - $90k after the properties were seasoned and refinanced with a cash-out. The cash-out proceeds were reinvested in buying apartment buildings for more cash-flow. If appreciation were icing on the cake, I'd take the icing anyday of the week. :0)
How do you get 100% financing? I have some deals I'm working on now.
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