Posted by Monique on February 20, 2001 at 19:50:03:
Chris,
You’re in the right place. You want to learn how to structure deals creatively … where you need little or no money to do the deal.
Owner financing, as you mentioned, is a great way to buy property. You pay the seller instead of a bank. This way, you can structure a nothing down deal, with low interest, or other attractive terms.
Learn on this website about buying on a Lease/Option, with a straight Option, and Subject To an existing mortgage. These are ways that investors here buy property without much money out of pocket.
Im Chris and Im 25. I have 2 properties currently, a quadraplex and a townhouse on a city golf course. I had some inheritance money, so I used it to buy the golf course property in cash. 2 years later I pulled out some of the equity to purchase a quad near the school (FSU) which I attend. I got it owner financed and it produces positive cash flow after taxes and insurance.
I would like to continue to do this, but I dont have the capitol any more. I have to learn ways of finding and financing properties with little capitol while I am in school.
I am only interested in properties that produce positive cahs flow after insurance and taxes.
Any of you know a good starting point for learning how to invest with little down on properties that not only appreciate, but earn money?