How do I get a loan to purchase a prop when I have no dwn pay $

Question

How can I get a loan to buy an investment property to rent if I don't have any money for a down payment, is there a way for me to buy deals with no money down. If so, how?

Gail K. · Answer

On one of your other postings you stated you have 100K sitting in a checking account.

Nathan Gesner · Answer

Yeh, this is an odd question to ask when you already said you have money.

The idea of "no money down" is mostly a false one. With rare exceptions, you need money to invest in real estate, particularly if you are a wise investor. You can negotiate a no-money-down purchase with the owner financing the property, but those are hard to find and it's a stupid, stupid thing for the seller to do. You can borrow money from friends or relatives. You can use a hard-money lender and get a secondary loan for the downpayment. You can cash out the equity of a currently owned property.

There are books written on all these techniques.

Nicholas L. · Answer

@Jayden Hamilton do you have a W2 job?

How do I get a loan to purchase a prop when I have no dwn pay $

How do I get a loan to purchase a prop when I have no dwn pay $

Most Popular Reply

3 Replies