Is there such thing as buying income property w/no money down based on good credit???

In Buying Property - Asked by vincent c. - Jun 17, 2009
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Answer(s)

gary b.
Appraiser
San Marcos, CA

No. Income property is for real pros. I would recommend looking into REIT's.

Jun 17, 2009
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Paul S.
Broker/Agent
Glendora, CA

Absolutely income property can be bought with no money down. That said, it is not easy. Usually it will require a seller carryback or you will need to team up with someone that has money. You get a piece of it for whatever value you can provide. Can you finance an income property 100% using a regular lender? In today's lending environment no. You can buy 1-4 units via FHA but not with 0 down. The other problem with no money down is cash flow. It won't be easy to get a property to have a break even or better with 0 down (will depend a lot on where you are talking about). Depending on the interest rate on the loan you are going to need around an 8% cap rate to break even. Obviously if the interest on the loan is 7% instead of 6%, your break even cap rate will change (upward) as well. If you need more information call me at 800 554-7362 or email at paulsylvester@remax.net

Jun 17, 2009
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David H.
Appraiser
Irvine, CA

I have a client who went through a divorce and has a 9 unit apartment building the judge ordered to be sold. The owner will carry.

Jun 18, 2009
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Trina S.
Corporate Investor
San Pedro, CA

Would your client with the 9-unit consider auctioning

Jun 18, 2009
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John N.
Owner/Investor
Oceanside, CA

David H.
If your friend is interested in selling his 9-Unit complex, I have interested buyers.
John N.
jin122@sbcglobal.net

Jun 18, 2009
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Al J.
Owner/Investor
La Mesa, CA

David H.,
I am a buyer who would be interested in getting information about your client's building. Can you contact me?
Al
ajohnson@chg4rei.com
http://www.chg4rei.com

Jun 19, 2009
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