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Author Topic: Can I buy investment real estate with no down payment?  (Read 1440 times)
Eric
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« on: September 03, 2008, 02:20:09 PM »
I really want to own real estate.I may not be able to afford anything in our area and I'm thinking to invest in a fourplex in an area where it makes sense.

Since I don't own any real estate and don't have much collateral, is it possible to buy investment real estate with 100% financing?I have an excellent credit.

How can I calculate if an investment property would even make sense to buy? What I mean by that is a property that would yield a positive cash flow.

Thanks so much for your input.
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July_Miami
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« Reply #1 on: September 04, 2008, 11:50:15 AM »
Generally lenders will require you to put down at least 10% for an investment property.

Don't believe all these late night infomercials about no money down real estate.

Also, if you don't have any money set aside, you aren't ready to be a landlord. You will need a decent amount of money to cover months with no tenants, unexpected repairs, etc.

I suggest you fully fund your 401k's (if available to you), fully fund Roth IRA's, have 3-6 months of savings for emergencies and THEN start saving money to use for investment properties.
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Jill_Taylor
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« Reply #2 on: September 04, 2008, 12:38:50 PM »
Most lenders will only allow 100% financing if you are going to live in the home. They usually require some kind of down payment. Depending on the area you may get away with as little as 5% down but most will require 20%.
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Liz
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« Reply #3 on: September 04, 2008, 01:28:08 PM »
Ask banks about 90 day notes. This will help you a whole bunch if the house you want to invest in will sell before the 90 days are up. This is great for buying fixer-uppers or tax auction sales.
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Jill_Taylor
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« Reply #4 on: September 05, 2008, 09:48:28 AM »
If you have an IRA you can turn it into a self directed IRA. You can use those funds the way the banks do. Make you money with your money the way that you want to
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rubyt58
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« Reply #5 on: July 05, 2009, 06:30:57 AM »
Quote from: July_Miami on September 04, 2008, 11:50:15 AM
Generally lenders will require you to put down at least 10% for an investment property.

Don't believe all these late night infomercials about no money down real estate.

Also, if you don't have any money set aside, you aren't ready to be a landlord. You will need a decent amount of money to cover months with no tenants, unexpected repairs, etc.

I suggest you fully fund your 401k's (if available to you), fully fund Roth IRA's, have 3-6 months of savings for emergencies and THEN start saving money to use for investment properties.

I agree. Great advice. Thanks!:)
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theieu
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« Reply #6 on: July 14, 2009, 08:26:18 AM »
It is really hard to find lending company of what you are looking for, in this present times lenders are now very keen when it comes to lending because not all people are good payer sometimes in the middle of their loan they suddenly stop paying, that's why we can not blame the lender if they asking for at least 10% DP.
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iketz0
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« Reply #7 on: July 20, 2009, 12:24:03 AM »
It is very impossible that the lenders will take charges on it.. At least 10% will be charges..It is very required especially in big companies..

http://realestatecrusher.com/

 
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jrmcgee
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« Reply #8 on: September 17, 2009, 12:12:12 AM »
I think that if you are buying a property for you personal living then it might possible that you don't have to pay any down payment but I don't think that there is any one who will be giving you anything for your real estate business with any down payment.
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Nikhil
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« Reply #9 on: September 23, 2009, 06:11:26 AM »
There are many other no down payment strategies, but you get the idea. Think creative financing. Adding this element to any real estate deal that you do along with a never say die attitude, keeps you in the ball game. Good luck!
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tonyserrano
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« Reply #10 on: November 30, 2009, 07:49:19 AM »
I don't think that you will get this kind of service from anywhere. You must to pay something as the down payment and it can be as small as 2 or 3%
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frank_tt
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« Reply #11 on: December 09, 2009, 06:07:29 AM »
find yourself a good agent and sit down with them and explain what you want and what you have. be honest with them and they will be able to help.
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majimbo
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« Reply #12 on: September 04, 2011, 06:42:14 PM »
there is no way you can buy investment real estate without a down payment.  lenders usually charge 10% for the down payment. unless you use it as your personal then you can buy it without DP.
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