Posted by les gee on February 14, 2001 at 19:43:06:
Of course it can be done. And of course it is harder than paying all cash. Go to the library and get richard allen’s NO MONEY DOWN.
Here’s one if you have enough equity. Do a cash out on your primary. Now with the funds in hand go buy a rental. No not a no money down, but you got cash to buy the rental. Warning, if you buy a bad one, you can lose both your primary and rental, so please read some books, go to seminars etc.
CAN THIS BE DONE ? - Posted by FRANCIS
Posted by FRANCIS on February 14, 2001 at 17:18:56:
HAVE SEEN MANY INFOMERCIALS STATING BUY WITH NO MONEY DOWN, MY PAST EXPERIENCE WITH ALL BANKS/MORTGAGE COMPANIES LETS ME BELIEVE IT CANNOT BE DONE.MYCURRENT SITUATION IS I HAVE A MORTGAGE ON MY CURRENT RESIDENCE AND WOULD LIKE TO GET INVOLVED WITH A RENTAL PROPERTY BUT HAVE NO DOWN PAYMENT AT THIS TIME, IF ANYONE CAN HELP ME OUT IT WOULD BE APPRECIATED.
THANK YOU, FRANCIS
Re: CAN THIS BE DONE ? - Posted by TD
Posted by TD on February 14, 2001 at 21:06:11:
Sure. First - turn off your ALL CAPS and stop SHOUTING at us. Good.
Then try Carlton Sheets Newsgroup on this site - lots of opinion and facts as to whether or not this method of RE investing would be for you.
Hint: try the Search feature, enter something like “No Money Down”. Review the responses - and you might gain insight into what this all entails.
Also, check out the articles on this site - it should give you a feeling for Creative Real Estate.