Updated over 9 years ago on . Most recent reply
No Money Down, Really?!?!
I keep hearing on all of the podcasts that I listen too about how investors got started with no money down. Which is extremely impressive to me and I would love to talk to someone who on here that was able to pull it off. If you are in Philly let's grab coffee, if you are not I can send you a Starbucks gift card for your time LOL.
Most Popular Reply
@Angelo Goodwin, I kind of did it this year. I bought a 4plex and the owners financed the down payment by carrying a second mortgage for the amount of the down payment. Having a good relationship with the bank I used helped, and they were motivated sellers who I had helped out in the past. They carried 20% as a second, I used a 15 year loan, so in 5 years I would be able to refinance and pay them off in full. The sellers got the 20% down at 4% interest with interest only payments monthly, and a 5 year balloon. Does this help?