Anyone know a way I can start investing in Residential properties with 1-4 units with no money down?

In Buying Property - Asked by marchello f. - Aug 30, 2010
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Answer(s)

Dean G.
Broker/Agent
Jacksonville, FL

You can possibly check out the new program from Fannie Mae called HomePath. You would not be able to buy the properties for "No Money Down," however, they are offering financing at 3 - 10 percent down.

Aug 31, 2010
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Linda W.
Broker/Agent
Orlando, FL

try USDA properties, these are about the only way to qualify with very low $$ down-check with a few different finance folks-what state are you in?

Aug 31, 2010
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WC Equity G.
Owner/Investor
Tampa, FL

"No money down" investing does not exist; in that, you cannot OWN property -- however, you can invest by wholesaling and "flipping contracts," which might lead to short term gains. Find out more at http://www.KurtWestfieldPA.com

Sep 6, 2010
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Neil B.
Broker/Agent
Louisville, KY

It can be done with owner financing, but these deals are hard to find, especially since you have no experience. But I recently assisted in such a deal where the property needed updating, the owner had no cash and could not, for a variety of reasons, manage the property. He was prepared to give the buyer 100% owner financing.
Also, am currently involved in multi-million dollar transaction where the buyer is requesting bank to take over note of seller who is in default - it will be a short sale. The appeal to bank is that it exchanges a very poor risk owner/seller with a highly qualified good risk buyer.
Ask your realtor how to do a "subject to" deal.

Sep 7, 2010
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Monica M.
Owner/Investor
Valencia, CA

Your best bet is to find an equity partner who will split the monthly cash flow and equity gain with you for exchange for you executing rehab (if needed), lease-up, and management of the property. This, of course, means that you will need to be local to the property to attract equity partners who will feel comfortable giving you an equity share in the deal without you supplying any cash or credit.

Sep 8, 2010
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marchello f.
Owner/Investor
Jacksonville, FL

I'm in Florida

Sep 13, 2010
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