This subject has been stuck with me lately. I see people are saying you can get 100% financing on real estate deals (No Money Down).
Is this really possible? Do hard money lenders really do 100% financing?
@Jalen Chanthaboury 1 in a million shot.
@Jalen Chanthaboury yes it is possible. I have done this with several properties. However, that is not where I started. I started with getting 80% loans with hard money lenders. And as I showed the lenders that I was trustworthy and could perform as outlined in the loan contracts, then they started loaning to me at a higher amount (90% and even up to 100% plus the rehab when I had a deal with a big enough spread to cover them if anything went wrong).
So now between hard money loans and private money loans I do most of my deals with 100% financing. But a lot of responsibility comes with investing this way. I need to make sure I have enough cash in reserves to whether any unforeseen event to make sure I can remain solvent in difficult situations.