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How do you buy investment property with no money down? |
(Late night tv ads excepted) It is horrendously difficult to buy investment property for nothing down. Before the current credit crunch, it was possible to buy a house to live in for nothing down, if you had a good income and great credit score. It was always hard to get a loan with nothing down for an investment property you weren't going to live in. With the current credit crunch, it is even more unlikely you can buy an investment property for nothing down. There are books that claim you can, but they offer impractical methods. Read this link. (I am not recommending buying this person's book, but read his website.) A 100% ffinancing loan, probably interest only. Might be tough to get these days with lenders being risk-averse. If you did this, you'd better be sure you could do the improvements and turn this thing around in a hurry. Super risky in today's housing market unless you have significant capital and resources to work fast. Ask the seller. With a Visa, MasterCard, American Express or Discover Credit Card. |
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