Updated almost 4 years ago on . Most recent reply
Rental property financing
How do you guys fund your deals if you have no money to start with? Also besides doing a partnership?
Most Popular Reply
@Ivan Aldana I agree with Theresa, but I also think there are some creative ways to purchase properties.
1) Use credit cards to make your downpayment.
2) Seller Financing - I totally understand right now is hard to even get an offer accepted, but something to think about it to find a real estate agent in your town and have them run a report on a neighborhood you like. Ask your agent to find someone who has lived in the property for a while (aka a house that was purchased a while back). Make a list of these properties and door knock or write letters to see if they are willing to sell.
3) Save up. Spend like you are broke. Sell things you dont need. Give it time and that pot will grow and you will have a downpayment.
Hope this works out. I honestly like #2 a lot and it could be an interesting thing... who knows you could be coming out with a deal in your favor.