Posted by TKP, Houston on August 20, 2003 at 23:44:36:
Sam, over the last few years i have sold several properties in Houston to “nothing down” buyers, some of whom have also walked away from closing with cash.
Most of these buyers have bought their homes to live in, but a few have been investors who have put in tenants. Keep in mind that when you buy with “nothing down” your net cash flow will most often be minimal. The idea is to have the tenant make your loan payments so you may cash in somewhere down the road.
Good luck! TKP, Houston