how does one find a private lender to fund multifamily propertys if they have no money or credit

i want to invest in multifamily propertys to keep for the cash flow how does one find a private lender to fund multifamily propertys if one have no money or credit to help fund the deal
In Buying Property - Asked by billy b. - Sep 29, 2011
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Answer(s)

Dennis G.
Owner/Investor
Fitchburg, MA

How do I find a invest to in propertys

Oct 1, 2011
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Wanda B.
Broker/Agent
Morrow, GA

Hello Bill, in a market such as the one we're in now, it will be difficult almost impossible for any lender to loan you capital to invest when you don't have either money nor credit. However depending on the property's cash flow you may find a lender who may take a chance, looking for you to default and they gain the property.. Try searching for Hard Lenders and call around to see what they require.
Hope this helps.

Oct 1, 2011
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Darrick S.
Owner/Investor
Addison, TX

One way is to approach sellers asking for OWNER FINANCE. I too am doing this and it works fine.

Oct 3, 2011
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Timothy C.
Broker/Agent
Chesapeake, VA

There are many programs out there showing investors how to buy multifamily with no money down and no credit. The question you have to ask is why would a seller do this? Are you going to offer him substantially more cash flow than he is currently earning from the property? And if you are, how are you going to make the payments? If "from the rent rolls", then why wouldn't the owner keep the existing rents? Without any money down, I don't see the benefit to the seller. Only high risk that the buyer has alternative sources of income to make up the cash flow difference, which can't be proven to lack of credit.

Oct 3, 2011
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Valerie R.
Owner/Investor
Kankakee, IL

Try to find very MOTIVATED Private Sellers of multifamily property if you have no credit or money. If the property is need of some simple cosmetic repair ,you can do barter your creativity in exchange for money. Get this in contract form of which you and the seller agree upon. This might not be feasible,however,your services such as these are worth money,possibly as the initial down payment on the property. Then approach the seller, with Seller financing. You have shown the seller,that you are serious about buying the property. If this is not the case,then TEAM with other investors who can offer or help bring in some capital towards the property.

Oct 12, 2011
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