Buying real estate no money down - Posted by Earl Atteberry

Posted by JoeS on March 07, 2002 at 23:15:43:

I live in a small community and have been doing this business for 7 years. Make it happen!

Buying real estate no money down - Posted by Earl Atteberry

Posted by Earl Atteberry on March 07, 2002 at 21:34:02:

This is more a question than a message. I have bought no money down courses and what I read is good. However it seems to me that most of these are designed for the larger markes. I live in a small community. How can I make this work in smaller communities.

Thanks for any information anyone can provide.

Re: Buying real estate no money down - Posted by Earl

Posted by Earl on March 12, 2002 at 07:24:51:

I have bought and own in both big and small markets. Each has pros and cons. One possible advantage of a small market is more flexible lending sources. My impression is small-town bankers, lenders, etc. who know you personally may be more flexible. I had a small-town property with a due on sale clause and the small town loan officer not only let me out of the due on sale clause but helped me and the buyer structure the deal. I’ve also heard of small-town investors who get closer to 100% financing on good terms from small town lenders.

Earl

Re: Buying real estate no money down - Posted by Shawn

Posted by Shawn on March 08, 2002 at 21:19:20:

My town is about 12000 people in a rural setting. It is actually easier than a large market. The key is finding a truly motivated seller and then using your creative tools.
Good luck,
Shawn
(Ohio)