Buying a home with no money down???...

3 Replies

Hello BP!

I was looking for some advice on how to purchase a home with no money down. 

I am currently interested in purchasing a rental property that is owned free and clear. I wanted to get creative on purchasing this home with no money down. The property is currently being rented out. I am a newbie to investing so I would really like to hear strategies from other more experienced investors. Any ideas on how to get this deal structure? Thanks in Advance!

The strategy I used to acquire my first rental property was using someone else's money @Josselyne Lugo . I partnered with another investor on the deal(who brought the funds). 

The deal was beneficial for both parties instead of taking wholesale fee I took the long-term route. However I already had a well established relationship with the investor

Originally posted by @Sterling White :

The strategy I used to acquire my first rental property was using someone else's money @Josselyne Lugo. I partnered with another investor on the deal(who brought the funds). 

The deal was beneficial for both parties instead of taking wholesale fee I took the long-term route. However I already had a well established relationship with the investor

 Thanks for your input Sterling. 

Can you please tell me a little more about the terms of the deal.

@Josselyne Lugo

Welcome to the vibrant BP community. Ok, now that you have taken your initial step, below are some quick links to get engaged.

Actually, this is an excellent opportunity to use seller financing if you can negotiate with the owner to put $0.00 down.

#AskBP 074 podcast below explains this method of financing extremely well.

https://www.biggerpockets.com/renewsblog/2015/07/3...

https://www.udemy.com/biggerpockets-real-estate-investing-course/ (video with 64 lectures and approx 6hrs of material)

https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)

REI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.

https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/

REI books suggested by BPers

https://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REI)

http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)

Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.

Feast on the Podcasts, #askbp Podcasts, blogs and webinars

Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.