All Forum Posts by: Chris Pelletier

We have about 11k and we don't want to spend it for this exact reason. As you can see we are new to this but we have reviewed the numbers and it should produced some good cash flow. If the seller has equity in the homes can we say we are puchasing the properties for his asking price and use the negotiated price (much lower) as a the down payment. In other words if we buy the property with equity will a conventional lender let it be applied towards a down payment?

My wife and I have an opportunity to purchase 3 multifamily homes from an individual seller. Each building has apx 5-6 units. Is there a way we can do this with no $$ down? Can the seller use equity in the properties as the downpayment? The other problem we are having is that we can not find a lender who is willing to consider rents as income and obviously our earned income is not enough to cover all of the mortgages. Can anybody give us any advice on this?

Thanks!

Just curious how many of you use creative financing techniques? My wife and I are "newbies" and are looking to purchase our 1st home that can provide positive cash flow. We would like to put no $$$ down. What are our options? We have about 11k in cash but would like to keep that so we can cover any unexpected costs that come our way. Being new to the business we are expecting this will be an issue. If you have any advice for us we would greatly appreciate it.

Thanks!!

We're about to take a class in wholesales, thanks for your post. It provides inspiration where doubt lies.

Hi all,

My name is Chris and I'm from Northfield Ma. My wife and I are new to the RE Investing game. We do not have any properties but are looking at our first one right now. This one just happened to fall on our lap. I think we are going to start out in the wholesale buying/selling area. Unfortunately we can't afford a huge downpayment and I think this will help us with that. I would love to hear from any of you as to how you got started and any advice you might want to share with us. Wouldn't mind if you are looking to sell a property in the area and are willing to work out some creative financing too!! :lol: If there is anyone in the Western mass, southern Vt/NH area, i would love to network and get to know some of you.