No money down?

[Vishal Amin]

Hello,

I have always been confused by this statement "No money down" or "without using any of my own money". Does this mean an investor found a deal a hard money lender/private lender is willing to let them borrow 100% of the purchase value for. So the investor would pay nothing out of their pocket. The lender is getting a quick return on their money until the investor does a cash out refi (6-12months) and  pays back the lender. 

I would love some clarification.