What is the best way to own a rental property without having a lot of money to spend on purchasing a rental ?

Answer 1

the BEST WAY TO BUY IF YOU HAVE NO MONEY IS TO USE HARD MONEY. HARD MONEY IS CALLED THIS BECAUSE THEY LEND ON THE PROPERTY AND NOT YOUR CREDIT.
BUT IT IS VERY IMPORTANT TO PURCHASE A PROPERTY THAT IS AT 60/70% OF THE AMOUNT YOU CAN RESELL OR REFINANCE IT AT. THESE ARE AVAILABLE IN THE WHOLESALE MARKET.
YOU WILL NOT FIND THESE USING REALTORS.
LEARN AS MUCH AS YOU CAN ABOUT THE MARKET VALUE IN THE AREA YOU WANT TO INVEST IN.
MOST IMPORTANTLY NEVER TRUST ANYONE!!!!!
FORGOT TO MENTION IF YOU GET A PROPERTY AT 60% OF VALUE YOU CAN FINANCE 100% AND MOST OF REPAIRS ALONG WITH IT USING A GOOD HARD MONEY LENDER.
I RECOMMEND THAT YOU JOIN A REAL ESTATE CLUB BEFORE YOU INVEST, THEY ARE A GREAT SOURCE OF INFORMATION: LENDERS VENDORS ETC.

Answer 2

The easiest way is to get a property through a tax sale. That is where an owner didn't pay his taxes and the city/county treasurer sells the property for the back taxes. The owner has a certain amount of time to buy the property back, but if he doesn't then you own a cheap unit that you can then rent out. Next to that you need a friend in realestate to tell you when a good property goes on sale cheap for little or no money down.

Answer 3

I'm a mortgage broker from Edmonton Alberta, I can get you aa mortgage for revenue properties with 10% down. If you would like any information on the lender you can contact me. I only do financing in Alberta Canada.

Answer 4

you got to have really good credit for a lender to approve the loan and a steady job and them they may approve 100% of the loan.If the property is worth more than what you are paying for.

Answer 5

IDK--we have rental property, and it was 20% down
when we bought it for the best rate.