Is their a way to purchase investiment property with no money down?
2006-09-30 07:49:28 · 7 answers · asked by justasking 2 in Business & Finance ➔ Renting & Real Estate
Only if you're a first time buyer. If it's for investment, you need money up front as it can be deducted later as your status will be "investor" and not "homeowner."
2006-09-30 07:50:44 · answer #1 · answered by Zoila 6 · 1⤊ 2⤋
Sure, but that would be unwise! It's possible to get some very "creative" loans for a no-money-down purchase, but you'll be paying some crazy fees and interest rates, including fees that might be very creatively "buried". If you really have no money to put down, then perhaps now is not the time to be buying an investment property. You might want to build up some $$ first.
2006-09-30 14:50:50 · answer #2 · answered by I ♥ AUG 6 · 1⤊ 0⤋
There are plenty of ways. Creative financing with banks allows you to get in for near FREE. NOW two - three years later the banks will get their house back and you will be indebt for ????? money and homeless.
If you do not have money don't buy a house the Bank WINS.
visit DaveRamsey.com to learn what the banks DoNot want you to know.
2006-09-30 16:40:31 · answer #3 · answered by Anonymous · 1⤊ 0⤋
keep it 4 units and under, have 3 months worth the rent at least in the bank and above 650 mid. Personally, I would do it if you can find good positive cash flow.
2006-09-30 20:00:14 · answer #4 · answered by cjkloanguy@yahoo.com 2 · 0⤊ 1⤋
Of course, but you monthly debt will be high, which will reduce your chances of having a positive monthly cashflow...which means it might not pay to buy it......run the numbers before you sign on the dotted line!!!!!!
2006-09-30 20:50:22 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Yes if you have property.
The Bank will pay.
ICICI does it.
2006-09-30 14:54:10 · answer #6 · answered by SKG R 6 · 0⤊ 1⤋
yes, in Mars
2006-09-30 14:52:08 · answer #7 · answered by me3laki 2 · 1⤊ 2⤋