I want to get into property investment but have no money. Is this a problem or is there a way I can overcome?

Answer 1

Depends on many things.

How good is your credit? Been working at a good paying job for a few years? With todays RE market being such a buyers market, there are ways... If I were you, I'd find a nice duplex or fourplex apartment property. If you live in one of the apartments, then you may be able to get in with no money down, but PMI insurance will be necessary until you get at least 20% equity into the property. If its not your residence, they won't give you the loan for no money down, with or without PMI insurance. This PMI insurance will increase your monthly overhead and should be avoided if possible.

Its not the best way to get started in property investments, but its ONE WAY. Get a partner or two whom you can trust to spread the responsibilities. Partners may help the loan process if they also have good credit.

I hope you're a good handy-man with home improvement projects, or this will not be a profitable move for you.

Good luck.
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Answer 2

If you have no money, that is a very poor idea. You would not be INVESTING because that would include putting some of your money into somehting.

You would be speculating (on credit no less) in the real estate market.

Probably not a good idea for someone with no money.

Answer 3

Without cash, it is gonna be difficult. The best way to overcome this is your ability to obtain financing. How loaded up with debt are you?

The easiest and most practical solution is to get your real estate agent license - then leverage that to learn about real estate while generating cash flow.

Answer 4

Uh, yes, having no money would be a problem. Investing is putting your money somewhere for it to make more money. If you don't have any, then how can you invest?

Answer 5

Sell your house.